Why Invest in PotlatchDeltic

Forward-Looking Statements & Non-GAAP Measures

Company and Industry Overview

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

We Operate Three Business Segments

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

Lumber Prices Have Been Exceptionally Strong the Last Couple of Years

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

There is a Strong Millennial Demographic Tailwind

Higher Mortgage Rates Have Caused Housing Starts to Slow Down

U.S. Housing Stock has Aged Considerably

Growing Residential Improvement Spending Supports Lumber Demand

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

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

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

Timberlands Segment

We Own nearly 2.2 Million Acres of Timberlands in Seven States

A Significant Portion of Our Idaho Sawlogs are Indexed to Lumber

Our Idaho Timberlands are Highly Profitable and Productive

Our Legacy Operations are Naturally Hedged in the U.S. South

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

Sawmill Capacity Additions Are Tightening Log Markets

Log Markets Are Already Tight For Timberlands Acquired in the CatchMark Merger

CatchMark Operates in Some of the Best Pricing Regions in the U.S. South

Our CatchMark Merger Compares Favorably to Another Recent Acquisition

Climate Change is Providing Southern Timberlands Opportunities

Our Timberlands Segment Adjusted EBITDDA Has Increased

Wood Products Segment

Our Wood Products Facilities are Located Close to Major End Markets

Our Capacity is Growing With Acquisitions and Productivity Improvements

North American Lumber Supply

Lumber Production Shifting to the U.S. South

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

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

We are Relentlessly Focused on Continuously Improving our Environmental Performance

Our Wood Products Segment Adjusted EBITDDA Has Increased Exponentially

Real Estate Segment

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

Proximity of CatchMark’s Timberlands to Large Population Centers Creates Meaningful Real Estate Opportunities

We Create Significant Conservation Outcomes Through Rural Land Transactions

We Create Significant Conservation Outcomes Through Rural Land Transactions

Interest in Solar Opportunities on Our Timberlands Has Increased

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

Real Estate Segment Adjusted EBITDDA Continues to be a Strong Contributor

Capital Allocation and Balance Sheet

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

We are Growing Our Business in a Disciplined Way Over Time

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

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

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

Appendix

Adjusted EBITDDA Reconciliation

Definitions