| Schedule H, Line 4i – Schedule of Assets (Held At End of Year) |
RAYONIER INVESTMENT AND SAVINGS PLAN FOR SALARIED EMPLOYEES SCHEDULE H, LINE 4i: SCHEDULE OF ASSETS (HELD AT END OF YEAR) AS OF DECEMBER 31, 2025 PLAN NUMBER 100 EMPLOYER IDENTIFICATION NUMBER 13-2607329 | | | | | | | | | | | | | | | | | | | | | | | | | (a) | (b) Identity of Issue | | (c) Description | | (d) Cost | | (e) Current Value | | Empower S&P 500 Index Separate Account | | Mutual Fund | | ** | | $30,222,901 | | Flexpath Stable Value CL I1 | | Common Collective Trust Fund | | ** | | 17,518,614 | | BlackRock Lifepath Index 2040 Fund G | | Common Collective Trust Fund | | ** | | 9,373,156 | | | BlackRock Lifepath Index Retirement G | | Common Collective Trust Fund | | ** | | 7,473,451 | | | BlackRock Lifepath Index 2030 Fund G | | Common Collective Trust Fund | | ** | | 5,768,047 | | | * | Rayonier Inc. Common Stock Fund (1) | | Company Stock | | ** | | 5,466,927 | | | BlackRock Lifepath Index 2045 Fund G | | Common Collective Trust Fund | | ** | | 5,270,918 | | | Principal Blue Chip R6 | | Mutual Fund | | ** | | 5,165,526 | | | BlackRock Lifepath Index 2035 Fund G | | Common Collective Trust Fund | | ** | | 4,962,255 | | | Vanguard Mid Cap Index Admiral | | Pooled Separate Investment Account | | ** | | 4,785,897 | | | BlackRock Lifepath Index 2050 Fund G | | Common Collective Trust Fund | | ** | | 3,545,706 | | | iShares MSCI EAFE International Index K | | Mutual Fund | | ** | | 3,331,415 | | | BlackRock Lifepath Index 2055 Fund G | | Common Collective Trust Fund | | ** | | 3,209,574 | | | Large Cap Value Fund Class I1 | | Common Collective Trust Fund | | ** | | 2,855,978 | | | Vanguard Intermediate Term Bond Index Fund | | Mutual Fund | | ** | | 2,565,775 | | | Mass Mutual Total Return Bond I | | Pooled Separate Investment Account | | ** | | 2,055,535 | | | | | | | | | | | Fidelity Institutional AM Total International Equity | | Mutual Fund | | ** | | 1,884,942 | | | Fidelity Small Cap Index Fund | | Mutual Fund | | ** | | 1,835,889 | | | CIT Small-Cap Value Fund III CI I1 | | Common Collective Trust Fund | | ** | | 1,832,611 | | | BlackRock Lifepath Index 2060 Fund G | | Common Collective Trust Fund | | ** | | 1,559,311 | | | Small Cap Growth L1 | | Common Collective Trust Fund | | ** | | 1,286,262 | | | Pimco Income Instl | | Pooled Separate Investment Account | | ** | | 599,570 | | | BlackRock Lifepath Index 2065 Fund G | | Common Collective Trust Fund | | ** | | 530,200 | | | iShares S&P 500 Index K | | Mutual Fund | | ** | | 469,750 | | Dreyfus Government Securities Cash Management Administrative Shares | | Pooled Separate Investment Account | | ** | | 127,065 | | | Dreyfus Government Secs Cash Mgmt Admin | | Pooled Separate Investment Account | | ** | | 7,055 | | | MassMutual GIA (1) | | Guaranteed Interest Account | | ** | | 3,910 | | | MFS Value R6 | | Pooled Separate Investment Account | | ** | | 678 | | | American Funds EuroPacific Growth R6 | | Mutual Fund | | ** | | 342 | | | Allspring Special Small Cap Value R6 | | Mutual Fund | | ** | | 336 | | | | | | | | | | | * | Notes Receivable from Participants (2) | | Participant Loans | | — | | 608,214 | | | | | | | | | $124,317,810 | | | | | | | | | | (1) | This investment is closed to participant contributions. | | (2) | The loans bear fixed interest rates which range from 4.25 percent to 9.50 percent with maturities through May 2037. | | * | Denotes party-in-interest transaction. | | | | | | | | ** | Investments are participant directed, thus cost information is not required. |
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