POTLATCHDELTIC CORP: A New Chapter with Rayonier Inc.

Let's cut through the financial jargon and understand the significant news surrounding POTLATCHDELTIC CORP. This summary explains the recent developments in plain English, as if we're discussing it over coffee.

Here's what you need to know:

1. The Big News: PotlatchDeltic Joins Rayonier Rayonier Inc. officially acquired POTLATCHDELTIC CORP, marking a significant shift. PotlatchDeltic is no longer an independent company; it now operates as a subsidiary of Rayonier. This $2.5 billion transaction (including assumed debt) established a leading timberland REIT. If you held PotlatchDeltic shares, Rayonier converted them into Rayonier stock along with a cash payment.

2. When Did This Happen? The merger officially closed on January 30, 2026, following the initial agreement announced on October 13, 2025.

3. Why This Merger? A Strategic Power Play This merger represents more than just growth; it's a strategic move to build a stronger, more competitive entity. The transaction combined two significant players, establishing a premier timberland REIT with an expansive and diverse land portfolio.

   • Enhanced Scale & Diversification: The newly combined company now owns approximately 3.9 million acres of timberland across the U.S. South, Pacific Northwest, and New Zealand, significantly diversifying its asset base and revenue streams.
   • Strategic Synergies: Rayonier anticipates this merger will generate approximately $25 million in annual general and administrative (G&A) and operational synergies within the first two years, boosting profitability.
   • Increased Market Presence: This move strengthens their position in both the timber and real estate industries. It leverages complementary assets and expertise to drive long-term value creation by combining resources for a more efficient and powerful operation.

4. Why Does This Matter to You? This merger represents a fundamental shift. POTLATCHDELTIC CORP, as you knew it, no longer exists as a standalone entity. Its stock (PCH) has ceased trading, and Nasdaq delisted it. If you were a shareholder, your investment has fundamentally transitioned from PotlatchDeltic to Rayonier. This changes who owns and controls the business and how its future will unfold. Your future returns are now directly tied to Rayonier's performance and strategic execution.

5. Who Is Affected? Let's examine the impact on key stakeholders:

   • Investors/Shareholders (that's you!): This merger significantly impacts your investment. For each PotlatchDeltic share you owned, you received 1.8185 shares of Rayonier Inc. (RYN) common stock, plus $0.61 in cash. You can no longer trade PCH stock; your investment is now solely in Rayonier. Consequently, your future returns will depend on Rayonier's strategy and performance.
   • Employees & Leadership: All of PotlatchDeltic's directors and officers ceased their roles. Five former PotlatchDeltic directors (Linda M. Breard, Michael J. Covey, Eric J. Cremers, D. Mark Leland, and Lenore M. Sullivan) joined Rayonier's board, ensuring continuity and integration expertise. Rayonier converted PotlatchDeltic stock awards (such as restricted stock units or stock options) into equivalent Rayonier awards or cash, aligning incentives with the new combined entity.

6. What Happens Next? Integration and Future Growth

   • Immediate Impact: Nasdaq halted trading of PotlatchDeltic Common Stock (PCH) and officially delisted it from the exchange on February 2, 2026. The company will also cease filing reports with the SEC as a standalone entity.
   • Longer-Term Focus: The immediate priority involves the seamless integration of PotlatchDeltic's operations, assets, and employees into Rayonier. Investors should monitor updates on the realization of the projected $25 million in synergies and how the combined entity leverages its expanded land base for sustainable growth in timber and real estate development. Your investment is now tied to Rayonier's ability to execute this integration and deliver on its strategic vision.

7. Key Takeaways for Investors For both active traders and long-term investors, here are the key takeaways:

   • This event represents a complete transformation for PotlatchDeltic, which is no longer an independent company.
   • If you held PCH shares, you now own RYN shares (and received a cash component). You can no longer buy or sell PCH.
   • Your investment outlook for the former PotlatchDeltic is now entirely dependent on Rayonier Inc. You should now research Rayonier's financials, strategy, and management to understand your new investment.
   • While always important to conduct your own due diligence, this merger fundamentally alters the investment landscape for those interested in PotlatchDeltic. Your investment decision should now be based on Rayonier's prospects and performance.