RAYONIER INC

Ticker: RYN CUSIP: 754907103 Class: COM

HOURGLASS CAPITAL, LLC's Holding History (CIK: 0001442573)

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

Q4 2014
Shares 193,280 Value ($000) $5,400 Avg Close — Range —
Q3 2014
Shares 192,380 Value ($000) $5,991 Avg Close — Range —
Q2 2014
Shares 132,180 Value ($000) $4,699 Avg Close — Range —
Q1 2014
Shares 130,880 Value ($000) $6,009 Avg Close — Range —