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Segment EBITDDA
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Timberlands Segment EBITDDA





1 | Non-GAAP measure; definition and reconciliations to GAAP can be found in this section of this presentation.
2 | Deltic included for 10 months in 2018; extraordinary wet weather reduced 2019 harvest, Ola Arkansas sawmill fire reduced 2021 harvest.
Wood Products Segment EBITDDA





1 | Non-GAAP measure; definition and reconciliations to GAAP can be found in this section of this presentation.
2 | Deltic included for 10 months in 2018.
Real Estate Segment EBITDDA







1 | Non-GAAP measure; definition and reconciliations to GAAP can be found in this section of this presentation.
2 | Deltic included for 10 months in 2018.
3 | Completed sale of ~72,000 acres in Minnesota for ~$48MM in Q4 2020.
4 | Excludes the acres sold in the 2016 Central Idaho liquidation transaction.
Adjusted EBITDDA Reconciliation

1 | Excludes the 2016 central Idaho timberland sale
2 | Special items include Deltic merger costs of $3 million, environmental charge of $5 million in 2017, Deltic merger costs of $22 million, inventory purchase price adjustment of $2 million in 2018.

