RAYONIER INC

Ticker: RYN CUSIP: 754907103 Class: COM

First City Capital Management, Inc.'s Holding History (CIK: 0001427350)

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

Q1 2016
Shares 4,650 Value ($000) $114,762 Avg Close — Range —
Q4 2015
Shares 5,000 Value ($000) $111,000 Avg Close — Range —
Q3 2015
Shares 7,700 Value ($000) $169,939 Avg Close — Range —
Q2 2015
Shares 7,350 Value ($000) $187,793 Avg Close — Range —
Q1 2015
Shares 7,350 Value ($000) $198,156 Avg Close — Range —
Q4 2014
Shares 7,250 Value ($000) $202,565 Avg Close — Range —
Q3 2014
Shares 6,850 Value ($000) $213,309 Avg Close — Range —
Q2 2014
Shares 150 Value ($000) $5,333 Avg Close — Range —