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Why Invest in PotlatchDeltic

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Forward-Looking Statements & Non-GAAP Measures

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Company and Industry Overview

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PotlatchDeltic is a $4 Billion Timber Real Estate Investment Trust (REIT) Focused on:

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We Operate Three Business Segments

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We are the Best Timber REIT Play on Housing Because Our Integrated Strategy Provides the Highest Direct Leverage to Lumber Prices

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Lumber Prices Have Been Exceptionally Strong the Last Couple of Years

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There Has Been a Cumulative Underbuilding of U.S. Homes in the Last Decade

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There is a Strong Millennial Demographic Tailwind

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Higher Mortgage Rates Have Caused Housing Starts to Slow Down

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U.S. Housing Stock has Aged Considerably

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Growing Residential Improvement Spending Supports Lumber Demand

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Demand for Lumber Used in Nonresidential Construction is Also Poised for Growth as Environmentally Beneficial Tall Wood Buildings Take Market Share from Steel and Concrete

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The Outlook for Mass Timber as a Natural Climate Solution is Favorable

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Lumber Prices are Expected to Remain Above Historical Averages Due to Growing Lumber Demand and Constrained Supply

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Timberlands Segment

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We Will Soon Own Timberlands in Seven States

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We Manage Our Timberlands Sustainably

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A Significant Portion of Our Idaho Sawlogs are Indexed to Lumber

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Our Idaho Timberlands are Highly Profitable and Productive

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We are Naturally Hedged in the U.S. South

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The Hedge is Important Because Southern Sawlog Prices Have Been Below Trend Levels

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Sawmill Capacity Additions Are Tightening Log Markets

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The Long-Awaited Tightening in Growth/Harvest Ratios is Nearing

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Climate Change is Providing Southern Timberlands Opportunities

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Our Timberlands Segment Adjusted EBITDDA Has Increased

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Wood Products Segment

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Our Wood Products Facilities are Located Close to Major End Markets

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Our Capacity is Growing With Acquisitions and Productivity Improvements

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North American Lumber Supply

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Lumber Production Shifting to the U.S. South

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Waldo Sawmill Modernization IRR Estimated to be 22% in Base Case

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Continuous Capital Investments Meet Hurdle Rates, Improve Productivity, Lower Costs, and Reduce Environmental Impact

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We are Relentlessly Focused on Continuously Improving our Environmental Performance

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Our Wood Products Segment Adjusted EBITDDA Has Increased Exponentially

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Real Estate Segment

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We Have Identified 90,000 Rural Acres That We Intend to Sell Over Time at a Premium to Timberland Value

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We Create Significant Conservation Outcomes Through Rural Land Transactions

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We Create Significant Conservation Outcomes Through Rural Land Transactions

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Interest in Solar Opportunities on Our Timberlands Has Increased

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We Also Develop and Sell Building Lots in a Highly Desirable 4,800 Acre Master-Planned Community

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Real Estate Segment Adjusted EBITDDA Continues to be a Strong Contributor

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Capital Allocation and Balance Sheet

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We are Focused on Growing Shareholder Value Over the Long Term Through a Balanced Capital Allocation Strategy

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We are Growing Our Business in a Disciplined Way Over Time

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Maintaining a Strong Balance Sheet and Ample Liquidity Provides the Flexibility to be Opportunistic

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The Power of Our Strategy is Evidenced by Our Strong Financial Performance

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We are Committed to Environmental and Social Responsibility and to Responsible Governance

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Superior Financial, ESG and Capital Allocation Performance Benefits all PotlatchDeltic Stakeholders, Now and Long into the Future

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Appendix

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Adjusted EBITDDA Reconciliation

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Definitions

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