Ronald Townsend

1.3

1.3

Position	Company	Period
Independent Director	Rayonier Advanced Materials Inc	None -
Lead Independent Director	Rayonier Inc	Jan. 1, 2011 - June 30, 2014

• Purchase • Sale • Planned purchase • Planned sale Net purchase Net sale Activity signal Earnings

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Abbreviations B: Buy, S: Sell, PP: Planned purchase, PlS: Planned sale, PrS: Proposed sale, O: Option / Other

Notification date	Transaction date	Company	B/S Transaction type	Nb. shares Price Value	Number of shares	Price	Value
2017-08-28	2017-08-24	Rayonier Advanced Materials Inc (RYAM)	S Sale	83,223 +30.3% 315.61 US$2,841,075	83,223 +30.3%	315.61	US$2,841,075
2016-11-04	2016-11-02	Rayonier Advanced Materials Inc (RYAM)	S Sale	90,830 -5.7% 499.16 US$4,018,461	90,830 -5.7%	499.16	US$4,018,461
2016-11-04	2016-11-02	Rayonier Advanced Materials Inc (RYAM)	S Sale	4,077 +5.4% 112.28 US$1,393,230	4,077 +5.4%	112.28	US$1,393,230