Rayonier Prices $450 Million of 2.750% Senior Notes Due 2031 - Seite 3

• our ability to complete the offering on the expected timeline or at all;
• the cyclical and competitive nature of the industries in which we operate;
• fluctuations in demand for, or supply of, our forest products and real estate offerings, including any downturn in the housing market;
• entry of new competitors into our markets;
• changes in global economic conditions and world events, business disruptions arising from public health crises and outbreaks of communicable diseases, including the current outbreak of the virus known as the novel coronavirus;
• fluctuations in demand for our products in Asia, and especially China;
• the uncertainties of potential impacts of climate-related initiatives;
• the cost and availability of third party logging and trucking services;
• the geographic concentration of a significant portion of our timberland;
• our ability to identify, finance and complete timberland acquisitions;
• changes in environmental laws and regulations regarding timber harvesting, delineation of wetlands, endangered species and development of real estate generally, that may restrict or adversely impact our ability to conduct our business, or increase the cost of doing so;
• adverse weather conditions, natural disasters and other catastrophic events such as hurricanes, windstorms and wildfires;
• the lengthy, uncertain and costly process associated with the ownership, entitlement and development of real estate, especially in Florida and Washington, including changes in law, policy and political factors beyond our control; the availability of financing for real estate development and mortgage loans;
• changes in tariffs, taxes or treaties relating to the import and export of our products or those of our competitors;
• changes in key management and personnel; and
• Rayonier’s ability to meet all necessary legal requirements to continue to qualify as a real estate investment trust for U.S. federal income tax purposes and changes in tax laws that could adversely affect beneficial tax treatment.

For additional factors that could impact future results, please see Item 1A - Risk Factors in the combined Annual Report of Rayonier and the Operating Partnership on Form 10-K for the fiscal year ended December 31, 2020 and similar discussion included in other reports that we subsequently file with the SEC. Forward-looking statements are only as of the date they are made, and we undertake no duty to update any forward-looking statements except as required by law. You are advised, however, to review any further disclosures we make on related subjects in our subsequent reports filed with the SEC.