Good morning. I'm Mike Covey, Chair of the Board of PotlatchDeltic Corporation. Welcome to the PotlatchDeltic Corporation's 2026 Special Meeting of Stockholders. We are hosting this special meeting in a virtual format via an internet portal. This special meeting is being held to formally approve the specific proposals described in the proxy materials. We will proceed according to the agenda and rules of conduct for this meeting. I would also like to address a few procedural matters before calling the meeting to order. Joining us today are members of the company's management team, including Eric Cremers, our President and Chief Executive Officer; Wayne Wasechek, our Vice President and Chief Financial Officer; and Michele Tyler, our Vice President, General Counsel, and Corporate Secretary. The Board of Directors has designated Mr. Cremers, Mr. Wasechek, and Ms. Tyler as the persons to act as proxies for this special meeting of stockholders. Kristina M. Perino Perino of the Carideo Group has been appointed Inspector of Election for today's meeting. Ms. Perino has taken and signed an oath to faithfully execute the duties of Inspector of Election with strict impartiality and according to the best of her ability. The oath will be filed with the minutes of this special meeting. Ms. Perino has provided Ms. Tyler with a report on the preliminary tabulation of all votes and ballots in connection with this meeting. After we have voted on all matters subject to a vote, Ms. Perino will tabulate the votes and determine the results of the voting. This special meeting is being held in accordance with PotlatchDeltic Corporation's bylaws and Delaware law. During this meeting, we will review the matters described in our proxy statement dated December 23rd, 2025. After that, voting will be completed, the preliminary results will be announced, and then the meeting will be adjourned. The rules of conduct for this meeting are posted in the meeting materials section of the virtual meeting page. Ms. Tyler, do we have represented today the shares and voting power required for a quorum? Yes. Broadridge Financial Solutions has presented proof by affidavit that notice of this meeting has been duly given and that the proxy materials have been furnished to every stockholder of record as of the close of business on December 26th, 2025, the record date for this special meeting. As of the record date, there were 77,416,980 shares of common stock outstanding. Our Inspector of Election has informed us that there are represented, via virtual meeting or by proxy, holders of a majority in voting power of the shares of the capital stock of PotlatchDeltic Corporation issued and outstanding and entitled to vote at the special meeting, thereby constituting a quorum for purposes of transacting business. With a quorum being present, this meeting is hereby declared open for business. Thank you. Since the necessary quorum is present, I now call the 2026 Special Meeting of Stockholders to order and declare the polls open today, January 27th, 2026, shortly after 9:00 A.M. Pacific Time. I appoint Ms. Tyler to act as Secretary of this meeting to record its proceedings. As stated in the notices of this meeting and further described in the proxy statement, there are three proposals for consideration by the stockholders, including the PotlatchDeltic merger agreement proposal, the PotlatchDeltic merger-related compensation proposal, and the PotlatchDeltic adjournment proposal. However, subject to approval of the PotlatchDeltic merger agreement proposal described below, we do not anticipate adjourning the meeting, and thus it will not be necessary to present the PotlatchDeltic adjournment proposal for a vote. Ms. Tyler will present the first two proposals to be voted upon. The first proposal before stockholders is to adopt the Agreement and Plan of Merger dated as of October 13th, 2025, by and among PotlatchDeltic Corporation, Rayonier Inc., and Redwood Merger Sub LLC, a direct wholly owned subsidiary of Rayonier, pursuant to which PotlatchDeltic Corporation will be merged with and into Redwood Merger Sub LLC, with Redwood Merger Sub LLC continuing as the surviving entity. The Board of Directors recommends a vote for this proposal. The second proposal before stockholders is to approve, on a non-binding advisory basis, certain compensation that may be paid or become payable to PotlatchDeltic Corporation's named executive officers in connection with the transactions contemplated by the Agreement and Plan of Merger. The Board of Directors recommends a vote for this proposal. Thank you. In order to expedite the flow of business, we will follow the following sequence. The polls will be opened on all matters. After a short period to allow for voting, the polls will then be closed and votes tabulated, and the preliminary results will be announced. We will now proceed with voting on the agenda items. The polls are now open. You may vote online during this meeting while the polls are open. If you have already voted and you do not wish to change your vote, you do not need to vote again at today's meeting. Your vote will be cast as you have previously instructed. Submission of a new vote during the meeting will revoke all prior votes that you have submitted. However, if you have already voted and now wish to change your vote, or if you have not already voted and you wish to vote now, please vote during this meeting. We'll pause for a moment to give anyone who has not voted a chance to vote. Now that everyone has had the opportunity to vote, I declare the polls closed today, January 27th, 2026, at 9:06 A.M. Pacific Time. No additional ballots, proxies, or votes, and no changes or revocations will be accepted. Ms. Tyler, do we have preliminary voting results? Yes, we do. I report the following preliminary results as provided to me by the Inspector of Election. The preliminary results are: Proposal One, the agreement and plan of merger pursuant to which PotlatchDeltic Corporation will be merged with and into Redwood Merger Sub LLC, a direct wholly owned subsidiary of Rayonier Inc., with Redwood Merger Sub LLC continuing as the surviving entity, along with related transactions, received the affirmative vote of a majority of the outstanding shares of PotlatchDeltic common stock entitled to vote at the PotlatchDeltic special meeting. Proposal Two, the advisory vote to approve the compensation that may be paid or become payable to the named executive officers of PotlatchDeltic in connection with the merger received a negative vote of over 70% of the votes represented in person, virtually, or by proxy, and entitled to vote. Because the PotlatchDeltic merger agreement proposal has been approved and no other matters are sought to be brought at this special meeting, the PotlatchDeltic adjournment proposal will not be presented. Please be advised that these are the preliminary results of voting. The final voting results will be set forth in the report of the Inspector of Election and will be included in the minutes of this meeting. The final results will also be reported within four business days in a current report on Form 8-K to be filed with the U.S. Securities and Exchange Commission. Mike, I'll turn it back to you. Thank you for your report. The special meeting of stockholders is now adjourned. On behalf of the entire board, our officers, and our employees, I'd like to thank you once again for attending our special meeting of stockholders. This concludes the meeting. This now concludes the meeting. Thank you for joining and have a pleasant day.