Weyerhaeuser purchases timberlands in Southern U.S.

Weyerhaeuser has entered into two distinct agreements with Forest Investment Associates to divest approximately 69,600 acres in Upstate South Carolina for $170M, and to purchase approximately 60,700 acres of high-quality timberlands in Coastal North Carolina, South Carolina and Mississippi for $163M. Key attributes of the transaction include: adding quality timberlands with attractive timber attributes, including mature, highly productive acreage that is well-integrated with existing Weyerhaeuser timberlands and mill operations; fee ownership with 80% planted pine acreage and strong site productivity, delivering strong long-term timber returns; well-stocked timber inventory producing attractive sawlog mix and expected average harvest of 6.9 tons per acre annually over the first five years. Expected average Adjusted EBITDA from timber operations is $130 per acre or $7.7M annually over the first five years. The transaction is subject to customary closing conditions and is expected to close in Q4.