# EDGAR Filing Document

**Accession Number:** 0001338749
**File Stem:** 0000950170-23-005529
**Filing Date:** 2023-3
**Character Count:** 11001
**Document Hash:** 1be05b457f908889664ed9986e6dca92
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-23-005529.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0000950170-23-005529

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 67

**CONFORMED PERIOD OF REPORT**: 20230301

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** POTLATCHDELTIC CORP
- **CENTRAL INDEX KEY:** 0001338749
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **IRS NUMBER:** 820156045
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-32729
- **FILM NUMBER:** 23693594

**BUSINESS ADDRESS:**
- **STREET 1:** 601 WEST FIRST AVENUE
- **STREET 2:** SUITE 1600
- **CITY:** SPOKANE
- **STATE:** WA
- **ZIP:** 99201
- **BUSINESS PHONE:** (509) 835-1500

**MAIL ADDRESS:**
- **STREET 1:** 601 WEST FIRST AVENUE
- **STREET 2:** SUITE 1600
- **CITY:** SPOKANE
- **STATE:** WA
- **ZIP:** 99201

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** POTLATCH CORP
- **DATE OF NAME CHANGE:** 20060206

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Potlatch Holdings, Inc.
- **DATE OF NAME CHANGE:** 20050914

?xml version="1.0" encoding="ASCII"? 8-K

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549**

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**FORM** 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** March 01, 2023<br>

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POTLATCHDELTIC CORPORATION

**(Exact name of Registrant as Specified in Its Charter)**

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| | | |
|:---|:---|:---|
| Delaware | 1-32729 | 82-0156045 |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| 601 West First Avenue, Suite 1600 |  |  |
| Spokane**,** Washington |  | 99201 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

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**Registrant's Telephone Number, Including Area Code:** 509 835-1500<br>

**(Former Name or Former Address, if Changed Since Last Report)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

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| | | |
|:---|:---|:---|
| **<br>Title of each class** | **Trading<br>Symbol(s)** | **<br>Name of each exchange on which registered** |
| Common Stock ($1 par value) | PCH | Nasdaq Global Select Market |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 7.01 Regulation FD Disclosure.**

On March 1, 2023, PotlatchDeltic Corporation (the "Company") posted presentation materials on the Investor Relations section of the Company's website. The presentation materials (the "Investor Presentation") are attached as Exhibit 99.1 to this report and incorporated herein by reference. The Company expects to use the Investor Presentation, or portions, with possible modifications, in connection with presentations to investors, analysts and others during the fiscal quarter ending March 31, 2023.

The Company has reconciled all non-GAAP measures in the Investor Presentation to the most directly comparable GAAP measures.

The information in this Form 8-K and the Exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits.

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| | |
|:---|:---|
| Exhibit <br><u>Number</u> | <br><u>Description</u> |
| 99.1 | [<u>PotlatchDeltic Investor Presentation, Q1 2023</u>](pch-ex99_1.htm) |
| 104 | Cover Page interactive data file (Embedded within the Inline XBRL document) |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
|  |  |  | PotlatchDeltic Corporation |
| Date: | March 1, 2023 | By:  | /s/ Michele L. Tyler |
|  |  |  | Michele L. Tyler<br>Vice President, General Counsel and Corporate Secretary  |

---

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## Ex-99

![Slide 1](pch-ex99_1s1.jpg)

Why Invest in PotlatchDeltic

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![Slide 2](pch-ex99_1s2.jpg)

Forward-Looking Statements & Non-GAAP Measures

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![Slide 3](pch-ex99_1s3.jpg)

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![Slide 4](pch-ex99_1s4.jpg)

Company and Industry Overview

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![Slide 5](pch-ex99_1s5.jpg)

PotlatchDeltic is a $4 Billion Timber Real Estate Investment Trust (REIT) Focused on:

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![Slide 6](pch-ex99_1s6.jpg)

We Operate Three Business Segments

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![Slide 7](pch-ex99_1s7.jpg)

We are the Best Timber REIT Play on Housing Because Our Integrated Strategy Provides the Highest Direct Leverage to Lumber Prices

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![Slide 8](pch-ex99_1s8.jpg)

Lumber Prices Have Been Exceptionally Strong the Last Couple of Years

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![Slide 9](pch-ex99_1s9.jpg)

PotlatchDeltic is Well Positioned to Take Advantage of Favorable Housing Fundamentals

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![Slide 10](pch-ex99_1s10.jpg)

Higher Mortgage Rates Have Caused Housing Starts to Slow Down

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![Slide 11](pch-ex99_1s11.jpg)

There Has Been a Cumulative Underbuilding of U.S. Homes in the Last Decade

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![Slide 12](pch-ex99_1s12.jpg)

There is a Strong Millennial Demographic Tailwind

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![Slide 13](pch-ex99_1s13.jpg)

U.S. Housing Stock Has Aged Considerably

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![Slide 14](pch-ex99_1s14.jpg)

Growing Residential Improvement Spending Supports Lumber Demand

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![Slide 15](pch-ex99_1s15.jpg)

Demand for Lumber Used in Nonresidential Construction is Also Poised for Growth as Environmentally Beneﬁcial Tall Wood Buildings Take Market Share from Steel and Concrete

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![Slide 16](pch-ex99_1s16.jpg)

The Outlook for Mass Timber as a Natural Climate Solution is Favorable

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![Slide 17](pch-ex99_1s17.jpg)

Our Natural Climate Solutions Opportunities are Expanding

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![Slide 18](pch-ex99_1s18.jpg)

Lumber Prices are Expected to Remain Above Historical Averages Due to Growing Lumber Demand and Constrained Supply

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![Slide 19](pch-ex99_1s19.jpg)

Timberlands Segment

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![Slide 20](pch-ex99_1s20.jpg)

We Own Nearly 2.2 Million Acres of Timberlands in Seven States

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![Slide 21](pch-ex99_1s21.jpg)

Our Idaho Timberlands are Highly Proﬁtable and Productive

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![Slide 22](pch-ex99_1s22.jpg)

Our Legacy Operations are Naturally Hedged in the U.S. South

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![Slide 23](pch-ex99_1s23.jpg)

The Hedge is Important Because Our Legacy Southern Sawlog Prices Have Been Below Trend Levels

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![Slide 24](pch-ex99_1s24.jpg)

Sawmill Capacity Additions are Tightening Our Legacy Log Markets

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![Slide 25](pch-ex99_1s25.jpg)

Log Markets are Already Tight For Timberlands Acquired in the CatchMark Merger

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![Slide 26](pch-ex99_1s26.jpg)

Climate Change is Providing Southern Timberlands Opportunities

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![Slide 27](pch-ex99_1s27.jpg)

Our Timberlands Segment Adjusted EBITDDA Has Increased

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![Slide 28](pch-ex99_1s28.jpg)

Wood Products Segment

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![Slide 29](pch-ex99_1s29.jpg)

Our Wood Products Facilities are Located Close to Major End Markets

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![Slide 30](pch-ex99_1s30.jpg)

Our Capacity is Growing With Acquisitions and Productivity Improvements

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![Slide 31](pch-ex99_1s31.jpg)

North American Lumber Supply

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![Slide 32](pch-ex99_1s32.jpg)

Lumber Production Shifting to the U.S. South

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![Slide 33](pch-ex99_1s33.jpg)

Waldo Sawmill Modernization IRR Estimated to be 22% in Base Case

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![Slide 34](pch-ex99_1s34.jpg)

Continuous Capital Investments Meet Hurdle Rates, Improve Productivity, Lower Costs, and Reduce Environmental Impact

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![Slide 35](pch-ex99_1s35.jpg)

We are Relentlessly Focused on Continuously Improving Our Environmental Performance

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![Slide 36](pch-ex99_1s36.jpg)

Our Wood Products Segment Adjusted EBITDDA Has Increased Exponentially

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![Slide 37](pch-ex99_1s37.jpg)

Real Estate Segment

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![Slide 38](pch-ex99_1s38.jpg)

We Expect to Sell Approximately One Percent of Our Rural Acres at a Premium to Timberland Value Each Year

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![Slide 39](pch-ex99_1s39.jpg)

We Create Signiﬁcant Conservation Outcomes Through Rural Land Transactions

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![Slide 40](pch-ex99_1s40.jpg)

We Create Signiﬁcant Conservation Outcomes Through Rural Land Transactions

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![Slide 41](pch-ex99_1s41.jpg)

Interest in Solar Opportunities on Our Timberlands is Increasing

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![Slide 42](pch-ex99_1s42.jpg)

We Also Develop and Sell Building Lots in a Highly Desirable 4,800 Acre Master-Planned Community

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![Slide 43](pch-ex99_1s43.jpg)

Real Estate Segment Adjusted EBITDDA Continues to be a Strong Contributor

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![Slide 44](pch-ex99_1s44.jpg)

Capital Allocation and Balance Sheet

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![Slide 45](pch-ex99_1s45.jpg)

We are Focused on Growing Shareholder Value Over the Long Term Through a Balanced Capital Allocation Strategy

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![Slide 46](pch-ex99_1s46.jpg)

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![Slide 47](pch-ex99_1s47.jpg)

We are Growing Our Business in a Disciplined Way Over Time

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![Slide 48](pch-ex99_1s48.jpg)

Maintaining a Strong Balance Sheet and Ample Liquidity Provides the Flexibility to be Opportunistic

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![Slide 49](pch-ex99_1s49.jpg)

The Power of Our Strategy is Evidenced by Our Strong Financial Performance

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![Slide 50](pch-ex99_1s50.jpg)

We are Committed to Environmental and Social Responsibility and to Responsible Governance

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![Slide 51](pch-ex99_1s51.jpg)

Appendix

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![Slide 52](pch-ex99_1s52.jpg)

Adjusted EBITDDA Reconciliation

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![Slide 53](pch-ex99_1s53.jpg)

Deﬁnitions

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![Slide 54](pch-ex99_1s54.jpg)