RAYONIER INC

Ticker: RYN CUSIP: 754907103 Class: COM

Pine River Capital Management L.P.'s Holding History (CIK: 0001288136)

Note: Option positions (PUT/CALL) are excluded.

Q3 2014
Shares 11,950 Value ($000) $372 Avg Close — Range —
Q4 2013
Shares 22,700 Value ($000) $956 Avg Close — Range —