LONGYEAR A MICHIGAN-BASED ASSET MANAGER FOR OVER 145 YEARS. We see the forest through the trees. Tim Schneider JM Longyear LLC, Forest Operations Manager Forest and Timber Products Panel -- UPEDA meeting; May 21, 2018

Longyear Corporate Overview Longyear is a privately held Marquette, Michigan-based asset manager with a 145-year track record for growing long term value. Longyear operates across a spectrum of markets and asset classes including, manufacturing, real estate, forestry and land management, mining and metals, hardwood products and medical device products. As one of the largest land owners in the Upper Great Lakes region, Longyear’s real estate assets exceed 165,000 acres of commercial timberlands and 200,000 acres of mineral rights. Its forest products manufacturing includes the sale of around 650,000 green tons of wood and over 20 million board feet of lumber annually. In addition, Longyear has led the development of early stage technology development and large capital-intensive projects worth over $2 Billion USD, ranging from integrated steel manufacturing to the production of cellulosic ethanol. The company’s success continues to be driven by historically solid asset management combined with an opportunistic growth strategy.

Harvesting & Transportation Forest Products Business Overview Timberlands Harvesting & Transportation Lumber Manufacturing JML Timberland Ownership ~168,000 acres total ~72,000 acres in Central and Western Upper Peninsula, Michigan region ~29,000 acres in Sault Ste. Marie, Ontario region ~67,000 acres in Bancroft, Ontario region 2 large concentration yards with rail access Harvesting Currently operating 6 harvester-forwarder systems 4 company crews in Upper Peninsula, Michigan 1 company crew in each Canadian region Transportation 5 self loading log trucks and 1 tractor-crib trailers in Upper Peninsula, Michigan 1 self loading log truck in Bancroft, Ontario region 2 lumber trucks Northern Hardwoods Sawmill Located in South Range, Michigan (Upper Peninsula) Annual hardwood lumber production of 20+ MMBF Annual purchase of 15+ MMBF of logs and green lumber annually

JML Timberland and Operational Footprint Great Lakes Region

JML Timberland and Forest Operations Annual Production and Sale of Forest Products Great Lakes Region Michigan 650,000 total green tons 550,000 tons pulpwood 28,000+ MBF logs 400,000 total green tons 300,000 tons pulpwood 12,000+ MBF logs JML Forest Operations land owner types in Michigan: JML owned fee lands Stumpage State timber sales USFS timber sales Large land owner timber sales Private non-industrial forest landowners

JML Forest Operations Support Forest Product Industry Jobs JML People Resources JML Forest Operations Support Forest Product Industry Jobs JML directly employs around 150 people across its business Recently created 15 logging operator and truck driver positions with the establishment and expansion of Longyear Harvesting and Transportation Directly contracts with over 80 independent forestry, logging, hauling, and road construction companies in Michigan, primarily in the U.P. Significant direct and indirect impact on forest product industry jobs in the Great Lakes Region

Lumber and Sawmill Overview Mill operations date back to 1968 Located in South Range, Michigan (Upper Peninsula) Annual hardwood lumber production of 20+ MMBF Annual purchase 15+ MMBF of hardwood logs green lumber annually 500 MBF pre dryer Kiln Capacity – 195 MBF Kiln Dried Sales – 12,000+ MBF, balance Green By products – 60,000-90,000 tons annually

Longyear Harvesting and Transportation JML is currently operating six harvester-forwarder sets of logging equipment Four of these sets operate in the Upper Peninsula of Michigan JML is currently operating eight trucks based out of Michigan Two lumber trucks primarily dedicated to Northern Hardwoods Five self loading log trucks One Tractor and crib trailer configuration

JML Company Crew in Action

JML Forest Operations in Action