Weyerhaeuser Q3 earnings fall to $61M as sales rise

The Arkansas transaction would divest approximately 81,000 acres for $146 million, with closing expected in Q4 subject to customary conditions.

Rhea-AI Filing Summary

Weyerhaeuser Company (WY) reported Q3 2026 net sales of $1.862 billion, versus $1.717 billion a year earlier. Net earnings were $61 million versus $80 million, or $0.08 versus $0.11 per diluted share. Adjusted EBITDA, a non-GAAP measure, rose 14% to $248 million from $217 million.

In October, it agreed to divest approximately 81,000 acres of non-core Arkansas timberlands for $146 million; closing is expected in Q4, subject to customary closing conditions. Q4 Timberlands earnings before special items and Adjusted EBITDA are expected to be comparable with Q3. For Strategic Land Solutions, those measures are expected to be approximately $35 million and $45 million lower than Q3, respectively.

Full-year 2026 Strategic Land Solutions Adjusted EBITDA is expected to be approximately $450 million, $25 million above initial outlook. The company began construction on its first biocarbon facility in McComb, Mississippi, and two additional solar sites, signed a geothermal exploration agreement covering approximately 145,000 acres in Oregon and Washington, and monetized approximately 340,000 forest carbon credits year-to-date through Q3.

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Positive

• Moderate pointThird-quarter net sales were $1.862 billion, versus $1.717 billion a year earlier.
• Moderate pointAdjusted EBITDA increased 14% to $248 million year over year.

Negative

• Moderate pointThird-quarter net earnings fell from $80 million to $61 million year over year.

Filing Explained

Adjusted FAD, Weyerhaeuser’s cash-availability measure, was lower in Q3 than Q2.

The October 29 Form 8-K furnishes Weyerhaeuser’s completed Q3 results.

Net earnings were $61 million versus $162 million in Q2, while Adjusted EBITDA was $248 million versus $310 million.

Weyerhaeuser defines Adjusted FAD as cash generated during the period, net of capital expenditures and significant nonrecurring items, available for dividends, repurchases, debt reduction, acquisitions and other capital allocation.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Third-quarter net sales: $1.862 billion Third-quarter net earnings: $61 million Net earnings per diluted share: $0.08 +4 more

7 metrics

Third-quarter net sales $1.862 billion Q3 2026; $1.717 billion in Q3 2025

Third-quarter net earnings $61 million Q3 2026; $80 million in Q3 2025

Net earnings per diluted share $0.08 Q3 2026; $0.11 in Q3 2025

Adjusted EBITDA $248 million Q3 2026; 14% increase from $217 million in Q3 2025

Arkansas timberlands in agreed divestiture Approximately 81,000 acres Non-core timberlands; closing expected in Q4

Agreed Arkansas timberland divestiture price $146 million Closing expected in Q4, subject to customary closing conditions

Strategic Land Solutions full-year 2026 Adjusted EBITDA outlook Approximately $450 million $25 million above initial outlook

Key Terms

Adjusted EBITDA, Adjusted Funds Available for Distribution, basis of acres sold, fee harvest volumes, +1 more

5 terms

Adjusted EBITDA financial

"Adjusted EBITDA for third quarter 2026 was $248 million"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

Adjusted Funds Available for Distribution financial

"Adjusted Funds Available for Distribution (Adjusted FAD)"

Adjusted funds available for distribution is a cash-based measure that shows how much money a company or fund has left to pay dividends or distributions after removing non-cash items and making routine upkeep and recurring adjustments. For investors it acts like a household budget: it reveals the sustainable, spendable cash flow rather than accounting profits, helping assess whether payouts are likely to be covered by real cash over time.

basis of acres sold financial

"basis of Strategic Land Solutions acres sold"

fee harvest volumes technical

"fee harvest volumes were significantly higher than the second quarter"

sales realizations financial

"Sales realizations are expected to be slightly lower"

Earnings Snapshot

Net sales: $1.862 billion · Guidance included

Third quarter 2026

Net sales $1.862 billion Compared with $1.717 billion in Q3 2025

Net earnings $61 million Compared with $80 million in Q3 2025

Net earnings per diluted share $0.08 Compared with $0.11 in Q3 2025

Adjusted EBITDA $248 million 14% increase from $217 million in Q3 2025

Guidance

Fourth-quarter Timberlands earnings before special items and Adjusted EBITDA are expected to be comparable with Q3. Strategic Land Solutions fourth-quarter earnings before special items and Adjusted EBITDA are expected to be approximately $35 million and $45 million lower than Q3, respectively; full-year 2026 Strategic Land Solutions Adjusted EBITDA is expected to be approximately $450 million, $25 million above initial outlook. Wood Products fourth-quarter earnings before special items and Adjusted EBITDA are expected to be moderately lower than Q3, excluding the effect of changes in average sales realizations for lumber and oriented strand board.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How did WY's third-quarter 2026 sales and earnings compare with last year?

Weyerhaeuser reported net sales of $1.862 billion, versus $1.717 billion in Q3 2025, and net earnings of $61 million, versus $80 million. Adjusted EBITDA was $248 million, a 14% increase from $217 million.

How much timberland is Weyerhaeuser selling in Arkansas?

Weyerhaeuser agreed to divest approximately 81,000 acres of non-core Arkansas timberlands for $146 million. Closing is expected in Q4, subject to customary closing conditions.

What is WY's fourth-quarter and full-year 2026 outlook?

Weyerhaeuser expects fourth-quarter Timberlands earnings before special items and Adjusted EBITDA to be comparable with Q3. For Strategic Land Solutions, those measures are expected to be approximately $35 million and $45 million lower than Q3, respectively; full-year 2026 segment Adjusted EBITDA is expected to be approximately $450 million, $25 million above initial outlook.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/29/2026 - 04:09 PM EDT Accepted by SEC EDGAR 10/29/2026 - 04:09 PM EDT Learn about SEC filing dates

false000010653500001065352026-10-292026-10-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 29, 2026

WEYERHAEUSER COMPANY

(Exact name of registrant as specified in charter)

Washington	1-4825	91-0470860
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(IRS Employer Identification Number)

220 Occidental Avenue South

Seattle, Washington 98104-7800

(Address of principal executive offices)

(zip code)

Registrant’s telephone number, including area code:

(206) 539-3000

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:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $1.25 per share		WY		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934:

☐	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.

TABLE OF CONTENTS

Item 2.02. Results of Operations and Financial Condition

Item 9.01. Financial Statements and Exhibits

SIGNATURES

EXHIBIT 99.1

EXHIBIT 99.2

Table of Contents

Section 2 - Financial Information

Item 2.02. Results of Operations and Financial Condition

On October 29, 2026, Weyerhaeuser Company will post and make available on its website its financial results for the quarter ended September 30, 2026. Copies of the earnings release and the exhibit thereto are furnished as Exhibit 99.1 and Exhibit 99.2 to this report.

In accordance with General Instruction B.2 of Form 8-K, the information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 and Exhibit 99.2, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Section 9 - Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits

(d) Exhibits. The following items are furnished as exhibits to this report.

		Exhibit No.	Description
		99.1	Earnings release of Weyerhaeuser Company posted October 29, 2026 reporting results of operations for the quarter ended September 30, 2026.
		99.2	Exhibit to earnings release of Weyerhaeuser Company posted October 29, 2026.
		104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

Table of Contents

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 hereunto duly authorized.

WEYERHAEUSER COMPANY
By:		/s/ Alex G. Whitney
Name:		Alex G. Whitney
Its:		Vice President and Chief Accounting Officer
		(Principal Accounting Officer)

Date: October 29, 2026

EXHIBIT 99.1

For more information contact:		Analysts – Andy Taylor (206) 539-3907
		Media – Nancy Thompson (919) 861-0342

Weyerhaeuser Reports Third Quarter Results

•Generated net earnings of $61 million, or $0.08 per diluted share

•Achieved Adjusted EBITDA of $248 million, a 14 percent increase compared with third quarter 2025

•Advanced divestiture of non-core timberlands in Arkansas, with closing expected in the fourth quarter

•Commencing construction on first biocarbon facility in McComb, Mississippi; site selection in progress for additional locations

•Monetized approximately 340,000 forest carbon credits year-to-date through third quarter; on pace for highest annual sales volume since program’s inception

•Commenced construction on two additional solar sites; bringing portfolio to two operational sites and five under construction

•Signed geothermal energy exploration agreement covering approximately 145,000 acres in Oregon and Washington

SEATTLE, October 29, 2026 – Weyerhaeuser Company (NYSE: WY) today reported third quarter net earnings of $61 million, or 8 cents per diluted share, on net sales of $1.9 billion. This compares with net earnings of $80 million, or 11 cents per diluted share, on net sales of $1.7 billion for the same period last year and net earnings of $162 million for second quarter 2026. There were no special items in third quarter 2026. Net earnings before special items was $40 million for the same period last year and $91 million for second quarter 2026. Adjusted EBITDA for third quarter 2026 was $248 million, compared with $217 million for the same period last year and $310 million for second quarter 2026.

In October, Weyerhaeuser entered into an agreement to divest approximately 81,000 acres of non-core timberlands in Arkansas for $146 million. The transaction is expected to close in the fourth quarter and is subject to customary closing conditions. Consistent with the company’s long-standing approach to active portfolio management, Weyerhaeuser will continue to evaluate opportunities to optimize the return profile of its timberlands portfolio, while also creating additional flexibility for broader capital allocation and growth priorities as market conditions and opportunities evolve.

“Our teams delivered solid operating performance in the third quarter against an increasingly challenging macroeconomic backdrop,” said Devin W. Stockfish, president and chief executive officer. “In addition, we continued to enhance the value of our timberlands portfolio and made meaningful progress advancing several strategic growth initiatives. Looking ahead, we remain confident in the longer-term demand fundamentals that support growth for our businesses and are well positioned to navigate the current environment given the strength of our portfolio, balance sheet and flexible capital allocation framework. We remain intently focused on driving operational excellence, serving our customers and executing our strategy to create superior long-term value for our shareholders.”

WEYERHAEUSER FINANCIAL HIGHLIGHTS		2026				2026				2025
(millions, except per share data)		Q2				Q3				Q3
Net sales		$	1,867			$	1,862			$	1,717
Net earnings		$	162			$	61			$	80
Net earnings per diluted share		$	0.23			$	0.08			$	0.11
Weighted average shares outstanding, diluted			722				721				722
Net earnings before special items(1)(2)		$	91			$	61			$	40
Net earnings per diluted share before special items(1)		$	0.13			$	0.08			$	0.06
Adjusted EBITDA(1)		$	310			$	248			$	217
Net cash from operations		$	399			$	193			$	210
Adjusted FAD(3)		$	323			$	110			$	117

1

(1)Net earnings before special items is a non-GAAP measure that management believes provides helpful context in understanding the company’s earnings performance. Additionally, Adjusted EBITDA is a non-GAAP measure that management uses to evaluate the performance of the company. Adjusted EBITDA, as we define it, is operating income adjusted for depreciation, depletion, amortization, basis of Strategic Land Solutions acres sold and special items. Net earnings before special items and Adjusted EBITDA should not be considered in isolation from, and are not intended to represent an alternative to, our GAAP results. Reconciliations of net earnings before special items and Adjusted EBITDA to GAAP earnings are included within this release.

(2)Special items for prior periods presented are included in the reconciliation tables within this release.

(3)Adjusted Funds Available for Distribution (Adjusted FAD) is a non-GAAP measure that management uses to evaluate the company’s liquidity. Adjusted FAD, as we define it, is net cash from operations adjusted for capital expenditures and significant non-recurring items. Adjusted FAD measures cash generated during the period (net of capital expenditures and significant non-recurring items) that is available for dividends, repurchases of common shares, debt reduction, acquisitions and other discretionary and nondiscretionary capital allocation activities. Adjusted FAD should not be considered in isolation from, and is not intended to represent an alternative to, our GAAP results. A reconciliation of Adjusted FAD to net cash from operations is included within this release.

TIMBERLANDS

FINANCIAL HIGHLIGHTS		2026				2026
(millions)		Q2				Q3				Change
Net sales		$	518			$	531			$	13
Net contribution to pretax earnings		$	130			$	67			$	(63	)
Pretax benefit for special items		$	(71	)		$	—			$	71
Net contribution to pretax earnings before special items		$	59			$	67			$	8
Adjusted EBITDA		$	123			$	133			$	10

Q3 2026 Performance – In the West, fee harvest volumes and forestry and road costs were comparable to the second quarter. Sales volumes were lower primarily due to fiber logs and the timing of export vessels, and per unit log and haul costs were also lower due to fewer export shipments. Sales realizations were slightly higher. In the South, fee harvest volumes were significantly higher than the second quarter due to more favorable weather conditions. Sales realizations were slightly lower due to mix. Per unit log and haul costs were also slightly lower, and forestry and road costs were seasonally higher.

Q4 2026 Outlook – Weyerhaeuser anticipates fourth quarter earnings before special items and Adjusted EBITDA will be comparable to the third quarter. In the West, the company expects slightly lower fee harvest volumes and slightly higher sales volumes, primarily for export. Sales realizations are expected to be slightly lower. Per unit log and haul costs are expected to be comparable, with seasonally lower forestry and road costs. In the South, the company expects moderately lower fee harvest volumes, slightly higher sales realizations and per unit log and haul costs, and comparable forestry and road costs.

STRATEGIC LAND SOLUTIONS

FINANCIAL HIGHLIGHTS		2026				2026
(millions)		Q2				Q3				Change
Net sales		$	140			$	99			$	(41	)
Net contribution to pretax earnings		$	94			$	67			$	(27	)
Adjusted EBITDA		$	129			$	86			$	(43	)

Q3 2026 Performance – Earnings and Adjusted EBITDA decreased from the second quarter due to the timing and mix of Real Estate sales. The number of acres sold decreased significantly, and the average price per acre was moderately lower. The company’s Real Estate results are typically more heavily weighted toward the first half of the year.

Q4 2026 Outlook – Weyerhaeuser anticipates fourth quarter earnings before special items will be approximately $35 million lower than the third quarter and Adjusted EBITDA will be approximately $45 million lower than the third quarter due to the timing and mix of Real Estate sales. The company continues to expect full year 2026 Adjusted EBITDA to be approximately $450 million, a $25 million increase from the initial outlook, and basis as a percentage of Strategic Land Solutions sales to be 15 to 20 percent for the full year.

2

WOOD PRODUCTS

FINANCIAL HIGHLIGHTS		2026				2026
(millions)		Q2				Q3				Change
Net sales		$	1,360			$	1,385			$	25
Net contribution to pretax earnings		$	71			$	32			$	(39	)
Adjusted EBITDA		$	129			$	91			$	(38	)

Q3 2026 Performance – For lumber, delivered sales realizations were slightly higher compared with the second quarter average. Sales volumes were moderately higher and log and unit manufacturing costs were slightly higher. For oriented strand board, sales realizations were 2 percent lower compared with the second quarter average. Sales volumes were slightly lower, fiber costs were comparable, and unit manufacturing costs were moderately higher due to more extensive planned annual maintenance and elevated resin costs. For engineered wood products, sales volumes were slightly higher for most products compared to the second quarter. Raw material and unit manufacturing costs were also slightly higher. Sales realizations were lower overall, partially driven by a mix shift within solid section products, but were higher for plywood. For distribution, results were lower than the second quarter, primarily due to decreased sales volumes and margins on specialty products.

Q4 2026 Outlook – Weyerhaeuser anticipates fourth quarter earnings before special items and Adjusted EBITDA will be moderately lower than the third quarter, excluding the effect of changes in average sales realizations for lumber and oriented strand board. For lumber, the company expects slightly lower sales volumes and slightly higher log and unit manufacturing costs. For oriented strand board, the company anticipates slightly higher sales volumes and fiber costs and slightly lower unit manufacturing costs. For engineered wood products, the company expects slightly higher sales realizations, slightly lower sales volumes for most products and moderately higher raw material costs. For distribution, the company anticipates slightly lower results compared to the third quarter.

ABOUT WEYERHAEUSER

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900 and today owns or controls more than 10 million acres of timberlands in the U.S., as well as additional public timberlands managed under long-term licenses in Canada. Weyerhaeuser has been a global leader in sustainability for more than a century and manages 100 percent of its timberlands on a fully sustainable basis in compliance with internationally recognized sustainable forestry standards. Weyerhaeuser is also one of the largest manufacturers of wood products in North America and operates additional business lines around product distribution, climate solutions, real estate, and energy and natural resources, among others. In 2025, the company generated $6.9 billion in net sales and employed approximately 9,500 people who serve customers worldwide. Operated as a real estate investment trust, Weyerhaeuser’s common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.

EARNINGS CALL INFORMATION

Weyerhaeuser will hold a live conference call at 7 a.m. Pacific (10 a.m. Eastern) on October 30, 2026, to discuss third quarter results.

To access the live webcast and presentation online, visit the Investors section on www.weyerhaeuser.com on October 30, 2026.

To join the conference call from within North America, dial 1-877-407-0792 (access code: 13755109) at least 15 minutes prior to the call. Those calling from outside North America should dial 201-689-8263 (access code: 13755109). Replays will be available for two weeks at 1-844-512-2921 (access code: 13755109) from within North America, and at 1-412-317-6671 (access code: 13755109) from outside North America.

3

FORWARD-LOOKING STATEMENTS

This earnings release contains statements concerning the company's future results and performance that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, with respect to our outlook and expectations concerning the following: long-term demand drivers for our products; driving operational excellence; advancing our growth strategy and delivering long-term shareholder value and returns; fourth quarter earnings before special items and Adjusted EBITDA for our Timberlands, Strategic Land Solutions and Wood Products segments; fee harvest volumes, domestic and export sales volumes, sales realizations, per unit log and haul costs and forestry and road costs for our Timberlands segment; full year Adjusted EBITDA and basis as a percentage of sales for our Strategic Land Solutions segment; sales volumes, log costs and unit manufacturing costs for our lumber business; sales volumes, fiber costs and unit manufacturing costs for our oriented strand board business; sales volumes, sales realizations and raw material costs for our engineered wood products business and expected fourth quarter results for our distribution business. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often involve use of words and expressions such as “anticipate,” “expect,” "looking ahead," “outlook,” “will” and similar words and expressions or reference events to occur in a future time period or by a future date. They may use the positive, negative or another variation of those and similar words and expressions. These forward-looking statements are based on our current expectations and assumptions and are not guarantees of future events or performance. The realization of our expectations and the accuracy of our assumptions are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to:

•the effect of general economic conditions, including employment rates, interest rates, inflation rates, housing starts, general availability and cost of financing for home mortgages and the relative strength of the U.S. dollar;

•market demand for the company's products, including market demand for our timberland properties with higher and better uses, which is related to, among other factors, the strength of the various U.S. business segments and U.S. and international economic conditions;

•changes in currency exchange rates, particularly the relative value of the U.S. dollar to the Japanese yen, the Chinese yuan and the Canadian dollar, and the relative value of the euro to the yen;

•U.S. trade policy and resulting restrictions on international trade and tariffs imposed on imports or exports;

•the availability and cost of shipping and transportation;

•economic activity in Asia, especially Japan, India and China;

•performance of our manufacturing operations, including maintenance and capital requirements;

•potential disruptions in our manufacturing operations;

•the level of competition from domestic and foreign producers;

•the successful execution of our internal plans and strategic initiatives, including restructuring and cost reduction initiatives as well as our previously announced growth initiatives;

•our ability to hire and retain capable employees;

•the successful and timely execution and integration of our strategic acquisitions, including our ability to realize expected benefits and synergies, and the successful and timely execution of our strategic divestitures, each of which is subject to a number of risks and conditions beyond our control including, but not limited to, timing and required regulatory approvals or the occurrence of any event, change or other circumstances that could give rise to a termination of any acquisition or divestiture transaction under the terms of the governing transaction agreements;

•raw material availability and prices;

•the effect of weather;

•changes in global or regional climate conditions and governmental response to such changes;

•the risk of loss from fires, floods, windstorms, hurricanes, pest infestation and other natural disasters;

•the effects of significant geopolitical conditions or developments such as significant international trade disputes or domestic or foreign terrorist attacks, armed conflict and political unrest;

4

•the occurrence of regional or global health epidemics and their potential effects on our business, results of operations, cash flows, financial condition and future prospects;

•energy and fuel prices;

•transportation and labor availability and costs;

•federal tax policies;

•the effect of forestry, land use, environmental and other governmental regulations;

•legal proceedings;

•performance of pension fund investments and related derivatives;

•the effect of timing of employee retirements as it relates to the cost of pension benefits and changes in the market price of our common stock on charges for share-based compensation;

•the accuracy of our estimates of costs and expenses related to contingent liabilities and the accuracy of our estimates of charges related to casualty losses;

•changes in accounting principles; and

•other risks and uncertainties identified in our 2025 Annual Report on Form 10-K, as well as those set forth from time to time in our other public statements, reports, registration statements, prospectuses, information statements and other filings with the SEC.

It is not possible to predict or identify all risks and uncertainties that might affect the accuracy of our forward-looking statements and, consequently, our descriptions of such risks and uncertainties should not be considered exhaustive. There is no guarantee that any of the events anticipated by these forward-looking statements will occur, and if any of the events do occur, there is no guarantee what effect they will have on the company's business, results of operations, cash flows, financial condition and future prospects.

Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update our forward-looking statements after the date of this earnings release.

5

RECONCILIATION OF ADJUSTED EBITDA TO NET EARNINGS

We reconcile Adjusted EBITDA to net earnings for the consolidated company and to operating income (loss) for the business segments, as those are the most directly comparable U.S. GAAP measures for each.

The table below reconciles Adjusted EBITDA for the quarter ended June 30, 2026:

(millions)		Timberlands				Strategic Land Solutions				Wood Products				Unallocated Items				Total
Adjusted EBITDA by Segment:
Net earnings																		$	162
Interest expense, net of capitalized interest																			66
Income taxes																			(15	)
Net contribution (charge) to earnings		$	130			$	94			$	71			$	(82	)		$	213
Non-operating pension and other post-employment benefit costs			—				—				—				14				14
Interest income and other			—				—				—				(4	)			(4	)
Operating income (loss)			130				94				71				(72	)			223
Depreciation, depletion and amortization			64				4				58				1				127
Basis of acres sold			—				31				—				—				31
Special items included in operating income (loss)(1)			(71	)			—				—				—				(71	)
Adjusted EBITDA		$	123			$	129			$	129			$	(71	)		$	310

(1)Operating income (loss) for Timberlands includes a pretax special item consisting of a $71 million gain on the sale of Oregon timberlands.

The table below reconciles Adjusted EBITDA for the quarter ended September 30, 2026:

(millions)		Timberlands				Strategic Land Solutions				Wood Products				Unallocated Items				Total
Adjusted EBITDA by Segment:
Net earnings																		$	61
Interest expense, net of capitalized interest																			63
Income taxes																			(36	)
Net contribution (charge) to earnings		$	67			$	67			$	32			$	(78	)		$	88
Non-operating pension and other post-employment benefit costs			—				—				—				15				15
Interest income and other			—				—				1				(4	)			(3	)
Operating income (loss)			67				67				33				(67	)			100
Depreciation, depletion and amortization			66				3				58				5				132
Basis of acres sold			—				16				—				—				16
Special items included in operating income (loss)			—				—				—				—				—
Adjusted EBITDA		$	133			$	86			$	91			$	(62	)		$	248

6

The table below reconciles Adjusted EBITDA for the quarter ended September 30, 2025:

(millions)		Timberlands				Strategic Land Solutions				Wood Products				Unallocated Items				Total
Adjusted EBITDA by Segment:
Net earnings																		$	80
Interest expense, net of capitalized interest																			71
Income taxes																			(41	)
Net contribution (charge) to earnings		$	80			$	69			$	(19	)		$	(20	)		$	110
Non-operating pension and other post-employment benefit costs			—				—				—				19				19
Interest income and other			—				—				—				(6	)			(6	)
Operating income (loss)			80				69				(19	)			(7	)			123
Depreciation, depletion and amortization			68				3				56				3				130
Basis of acres sold			—				19				—				—				19
Special items included in operating income (loss)(1)(2)			—				—				(29	)			(26	)			(55	)
Adjusted EBITDA		$	148			$	91			$	8			$	(30	)		$	217

(1)Operating income (loss) for Wood Products includes a pretax special item consisting of a $29 million gain on the sale of our Princeton lumber mill.

(2)Operating income (loss) for Unallocated Items includes a pretax special item consisting of a $26 million insurance recovery.

The table below reconciles Adjusted EBITDA for the year-to-date period ended September 30, 2026:

(millions)		Timberlands				Strategic Land Solutions				Wood Products				Unallocated Items				Total
Adjusted EBITDA by Segment:
Net earnings																		$	379
Interest expense, net of capitalized interest																			195
Income taxes																			(36	)
Net contribution (charge) to earnings		$	312			$	330			$	145			$	(249	)		$	538
Non-operating pension and other post-employment benefit costs			—				—				—				43				43
Interest income and other			—				—				1				(12	)			(11	)
Operating income (loss)			312				330				146				(218	)			570
Depreciation, depletion and amortization			193				8				173				9				383
Basis of acres sold			—				70				—				—				70
Special items included in operating income (loss)(1)(2)			(129	)			—				(28	)			—				(157	)
Adjusted EBITDA		$	376			$	408			$	291			$	(209	)		$	866

(1)Operating income (loss) for Timberlands includes pretax special items consisting of a $58 million gain on the sale of Virginia timberlands and a $71 million gain on the sale of Oregon timberlands.

(2)Operating income (loss) for Wood Products includes a pretax special item consisting of a $28 million product remediation insurance recovery.

7

RECONCILIATION OF NET EARNINGS BEFORE SPECIAL ITEMS TO NET EARNINGS (INCOME TAX AFFECTED)

We reconcile net earnings before special items to net earnings and net earnings per diluted share before special items to net earnings per diluted share, as those are the most directly comparable U.S. GAAP measures. We believe the measures provide meaningful supplemental information for investors about our operating performance, better facilitate period to period comparisons and are widely used by analysts, lenders, rating agencies and other interested parties.

The table below reconciles net earnings before special items to net earnings:

		2026				2026				2025
(millions)		Q2				Q3				Q3
Net earnings		$	162			$	61			$	80
Gain on lumber mill sale			—				—				(21	)
Gain on sale of timberlands			(71	)			—				—
Insurance recovery			—				—				(19	)
Net earnings before special items		$	91			$	61			$	40

The table below reconciles net earnings per diluted share before special items to net earnings per diluted share:

		2026				2026				2025
		Q2				Q3				Q3
Net earnings per diluted share		$	0.23			$	0.08			$	0.11
Gain on lumber mill sale			—				—				(0.03	)
Gain on sale of timberlands			(0.10	)			—				—
Insurance recovery			—				—				(0.02	)
Net earnings per diluted share before special items		$	0.13			$	0.08			$	0.06

RECONCILIATION OF ADJUSTED FAD TO NET CASH FROM OPERATIONS

We reconcile Adjusted FAD to net cash from operations, as that is the most directly comparable U.S. GAAP measure. We believe the measure provides meaningful supplemental information for investors about our liquidity.

The table below reconciles Adjusted FAD to net cash from operations:

		2026				2026				2025				2026
(millions)		Q2				Q3				Q3				Q3 YTD
Net cash from operations		$	399			$	193			$	210			$	644
Capital expenditures			(139	)			(137	)			(125	)			(388	)
Adjustments to FAD(1)			63				54				32				119
Adjusted FAD		$	323			$	110			$	117			$	375

(1)Adjustments to FAD in 2025 include $32 million in capital expenditures related to our Monticello engineered wood products facility in third quarter 2025. Adjustments to FAD in 2026 include a $28 million product remediation insurance recovery in first quarter 2026 and $63 million, $54 million and $147 million in capital expenditures related to our Monticello engineered wood products facility in second quarter, third quarter and year-to-date 2026, respectively.

8

Weyerhaeuser Company Exhibit 99.2

Q3.2026 Analyst Package

Preliminary results (unaudited)

Consolidated Statement of Operations

		Q1				Q2				Q3								Year-to-Date
in millions		Mar 31,  2026				Jun 30,  2026				Sept 30, 2026				Sept 30, 2025				Sept 30, 2026				Sept 30, 2025
Net sales		$	1,727			$	1,867			$	1,862			$	1,717			$	5,456			$	5,364
Costs of sales			1,409				1,556				1,605				1,513				4,570				4,500
Gross margin			318				311				257				204				886				864
Selling expenses			23				24				26				23				73				69
General and administrative expenses			119				115				115				107				349				340
Gain on sale of timberlands			(58	)			(71	)			—				—				(129	)			—
Other operating (income) costs, net			(13	)			20				16				(49	)			23				(25	)
Operating income			247				223				100				123				570				480
Non-operating pension and other post-employment benefit costs			(14	)			(14	)			(15	)			(19	)			(43	)			(57	)
Interest income and other			4				4				3				6				11				17
Interest expense, net of capitalized interest			(66	)			(66	)			(63	)			(71	)			(195	)			(203	)
Earnings before income taxes			171				147				25				39				343				237
Income taxes			(15	)			15				36				41				36				13
Net earnings		$	156			$	162			$	61			$	80			$	379			$	250

Per Share Information

		Q1				Q2				Q3								Year-to-Date
		Mar 31,  2026				Jun 30,  2026				Sept 30, 2026				Sept 30, 2025				Sept 30, 2026				Sept 30, 2025
Earnings per share, basic and diluted		$	0.22			$	0.23			$	0.08			$	0.11			$	0.53			$	0.35
Dividends paid per common share		$	0.21			$	0.21			$	0.21			$	0.21			$	0.63			$	0.63
Weighted average shares outstanding (in thousands):
Basic			721,290				721,421				720,982				721,598				721,230				723,791
Diluted			721,671				721,901				721,464				722,012				721,678				724,151
Common shares outstanding at end of period (in thousands)			721,043				720,692				720,342				720,861				720,342				720,861

Adjusted Earnings before Interest, Tax, Depreciation, Depletion and Amortization (Adjusted EBITDA)

		Q1				Q2				Q3								Year-to-Date
in millions		Mar 31,  2026				Jun 30,  2026				Sept 30, 2026				Sept 30, 2025				Sept 30, 2026				Sept 30, 2025
Net earnings		$	156			$	162			$	61			$	80			$	379			$	250
Non-operating pension and other post-employment benefit costs			14				14				15				19				43				57
Interest income and other			(4	)			(4	)			(3	)			(6	)			(11	)			(17	)
Interest expense, net of capitalized interest			66				66				63				71				195				203
Income taxes			15				(15	)			(36	)			(41	)			(36	)			(13	)
Operating income			247				223				100				123				570				480
Depreciation, depletion and amortization			124				127				132				130				383				380
Basis of acres sold			23				31				16				19				70				76
Special items included in operating income			(86	)			(71	)			—				(55	)			(157	)			(55	)
Adjusted EBITDA(1)		$	308			$	310			$	248			$	217			$	866			$	881

(1) Adjusted EBITDA is a non-GAAP measure that management uses to evaluate the performance of the company. Adjusted EBITDA, as we define it, is operating income adjusted for depreciation, depletion, amortization, basis of Strategic Land Solutions acres sold and special items. Our definition of Adjusted EBITDA may be different from similarly titled measures reported by other companies. Adjusted EBITDA should not be considered in isolation from, and is not intended to represent an alternative to, our GAAP results.

Weyerhaeuser Company Total Company Statistics

Q3.2026 Analyst Package

Preliminary results (unaudited)

Special Items Included in Net Earnings (Income Tax Affected)

		Q1				Q2				Q3								Year-to-Date
in millions		Mar 31,  2026				Jun 30,  2026				Sept 30, 2026				Sept 30, 2025				Sept 30, 2026				Sept 30, 2025
Net earnings		$	156			$	162			$	61			$	80			$	379			$	250
Gain on lumber mill sale			—				—				—				(21	)			—				(21	)
Gain on sale of timberlands			(58	)			(71	)			—				—				(129	)			—
Insurance recovery			—				—				—				(19	)			—				(19	)
Product remediation insurance recovery			(21	)			—				—				—				(21	)			—
Net earnings before special items(1)		$	77			$	91			$	61			$	40			$	229			$	210

		Q1				Q2				Q3								Year-to-Date
		Mar 31,  2026				Jun 30,  2026				Sept 30, 2026				Sept 30, 2025				Sept 30, 2026				Sept 30, 2025
Net earnings per diluted share		$	0.22			$	0.23			$	0.08			$	0.11			$	0.53			$	0.35
Gain on lumber mill sale			—				—				—				(0.03	)			—				(0.03	)
Gain on sale of timberlands			(0.08	)			(0.10	)			—				—				(0.18	)			—
Insurance recovery			—				—				—				(0.02	)			—				(0.03	)
Product remediation insurance recovery			(0.03	)			—				—				—				(0.03	)			—
Net earnings per diluted share before special items(1)		$	0.11			$	0.13			$	0.08			$	0.06			$	0.32			$	0.29

(1) Net earnings before special items is a non-GAAP measure that management believes provides helpful context in understanding the company’s earnings performance. Net earnings before special items should not be considered in isolation from, and is not intended to represent an alternative to, our GAAP results.

Selected Total Company Items

		Q1				Q2				Q3								Year-to-Date
in millions		Mar 31,  2026				Jun 30,  2026				Sept 30, 2026				Sept 30, 2025				Sept 30, 2026				Sept 30, 2025
Pension and post-employment costs:
Pension and post-employment service costs		$	4			$	5			$	4			$	5			$	13			$	14
Non-operating pension and other post-employment benefit costs			14				14				15				19				43				57
Total company pension and post-employment costs		$	18			$	19			$	19			$	24			$	56			$	71

Weyerhaeuser Company

Q3.2026 Analyst Package

Preliminary results (unaudited)

Condensed Consolidated Balance Sheet

in millions		Mar 31,  2026				Jun 30,  2026				Sept 30, 2026				Dec 31, 2025
ASSETS
Current assets:
Cash and cash equivalents		$	299			$	527			$	349			$	464
Receivables, net			396				373				383				303
Receivables for taxes			8				5				6				10
Inventories			659				604				592				593
Assets held for sale			—				—				—				128
Prepaid expenses and other current assets			141				127				131				154
Total current assets			1,503				1,636				1,461				1,652
Property and equipment, net			2,376				2,405				2,427				2,420
Construction in progress			397				423				466				337
Timber and timberlands at cost, less depletion			11,475				11,384				11,337				11,533
Minerals and mineral rights, less depletion			176				173				170				177
Deferred tax assets			91				113				144				97
Other assets			383				379				375				397
Total assets		$	16,401			$	16,513			$	16,380			$	16,613
LIABILITIES AND EQUITY
Current liabilities:
Current maturities of long-term debt		$	372			$	122			$	—			$	522
Accounts payable			284				311				310				278
Accrued liabilities			404				468				494				478
Total current liabilities			1,060				901				804				1,278
Long-term debt, net			5,052				5,303				5,354				5,050
Deferred tax liabilities			15				15				16				18
Deferred pension and other post-employment benefits			484				486				488				485
Other liabilities			351				352				336				356
Total liabilities			6,962				7,057				6,998				7,187
Total equity			9,439				9,456				9,382				9,426
Total liabilities and equity		$	16,401			$	16,513			$	16,380			$	16,613

Weyerhaeuser Company

Q3.2026 Analyst Package

Preliminary results (unaudited)

Consolidated Statement of Cash Flows

		Q1				Q2				Q3								Year-to-Date
in millions		Mar 31,  2026				Jun 30,  2026				Sept 30, 2026				Sept 30, 2025				Sept 30, 2026				Sept 30, 2025
Cash flows from operations:
Net earnings		$	156			$	162			$	61			$	80			$	379			$	250
Noncash charges (credits) to earnings:
Depreciation, depletion and amortization			124				127				132				130				383				380
Basis of acres sold			23				31				16				19				70				76
Deferred income taxes, net			1				(26	)			(35	)			(65	)			(60	)			(61	)
Pension and other post-employment benefits			18				19				19				24				56				71
Share-based compensation expense			13				10				10				9				33				32
Gain on lumber mill sale			—				—				—				(29	)			—				(29	)
Gain on sale of timberlands			(58	)			(71	)			—				—				(129	)			—
Other			1				—				1				3				2				3
Change in:
Receivables, net			(94	)			11				(9	)			29				(92	)			(37	)
Receivables and payables for taxes			1				13				(11	)			4				3				(12	)
Inventories			(68	)			54				11				17				(3	)			4
Prepaid expenses and other current assets			2				2				(6	)			(8	)			(2	)			9
Accounts payable and accrued liabilities			(66	)			83				28				2				45				41
Pension and post-employment benefit contributions and payments			(5	)			(4	)			(5	)			(7	)			(14	)			(13	)
Other			4				(12	)			(19	)			2				(27	)			(38	)
Net cash from operations		$	52			$	399			$	193			$	210			$	644			$	676
Cash flows from investing activities:
Capital expenditures for property and equipment(1)		$	(89	)		$	(131	)		$	(130	)		$	(118	)		$	(350	)		$	(288	)
Capital expenditures for timberlands reforestation			(23	)			(8	)			(7	)			(7	)			(38	)			(37	)
Acquisitions of timberlands			—				(3	)			—				(461	)			(3	)			(466	)
Proceeds from lumber mill sale			—				22				—				61				22				61
Proceeds from sale of timberlands			192				114				—				—				306				—
Other			1				(1	)			(1	)			4				(1	)			1
Net cash from investing activities		$	81			$	(7	)		$	(138	)		$	(521	)		$	(64	)		$	(729	)
Cash flows from financing activities:
Cash dividends on common shares		$	(151	)		$	(152	)		$	(151	)		$	(150	)		$	(454	)		$	(454	)
Net proceeds from issuance of long-term debt			—				—				—				799				—				1,098
Net proceeds from issuance of commercial paper			—				331				50				—				381				—
Payments on long-term debt			(150	)			(250	)			(122	)			(502	)			(522	)			(712	)
Payments on commercial paper			—				(81	)			—				—				(81	)			—
Repurchases of common shares			(10	)			(10	)			(10	)			(25	)			(30	)			(150	)
Other			(4	)			(2	)			—				(2	)			(6	)			(12	)
Net cash from financing activities		$	(315	)		$	(164	)		$	(233	)		$	120			$	(712	)		$	(230	)
Net change in cash, cash equivalents and restricted cash		$	(182	)		$	228			$	(178	)		$	(191	)		$	(132	)		$	(283	)
Cash, cash equivalents and restricted cash at beginning of period			481				299				527				592				481				684
Cash, cash equivalents and restricted cash at end of period		$	299			$	527			$	349			$	401			$	349			$	401
Cash paid during the period for:
Interest, net of amounts capitalized		$	60			$	73			$	62			$	69			$	195			$	201
Income taxes, net of refunds		$	13			$	—			$	8			$	21			$	21			$	61

(1) Includes capital expenditures related to the construction of our Monticello engineered wood products facility of $32 million and $70 million in third quarter 2025 and year-to-date 2025, respectively, and $30 million, $63 million, $54 million and $147 million in first quarter 2026, second quarter 2026, third quarter 2026, and year-to-date 2026, respectively. These amounts are excluded for purposes of calculating Adjusted Funds Available for Distribution.

Weyerhaeuser Company Timberlands Segment

Q3.2026 Analyst Package

Preliminary results (unaudited)

Segment Statement of Operations

in millions		Q1.2026				Q2.2026				Q3.2026				Q3.2025				YTD.2026				YTD.2025
Sales to unaffiliated customers		$	356			$	367			$	378			$	386			$	1,101			$	1,141
Intersegment sales			136				151				153				150				440				458
Total net sales			492				518				531				536				1,541				1,599
Costs of sales			409				434				438				429				1,281				1,254
Gross margin			83				84				93				107				260				345
Selling expenses			—				1				—				—				1				1
General and administrative expenses			25				24				25				25				74				73
Gain on sale of timberlands			(58	)			(71	)			—				—				(129	)			—
Other operating costs, net			1				—				1				2				2				1
Operating income and Net contribution to earnings		$	115			$	130			$	67			$	80			$	312			$	270

Adjusted Earnings before Interest, Tax, Depreciation, Depletion and Amortization(1)

in millions		Q1.2026				Q2.2026				Q3.2026				Q3.2025				YTD.2026				YTD.2025
Operating income		$	115			$	130			$	67			$	80			$	312			$	270
Depreciation, depletion and amortization			63				64				66				68				193				197
Special items			(58	)			(71	)			—				—				(129	)			—
Adjusted EBITDA(1)		$	120			$	123			$	133			$	148			$	376			$	467

(1) See definition of Adjusted EBITDA (a non-GAAP measure) on page 1.

Segment Special Items Included In Net Contribution to Earnings (Pretax)

in millions		Q1.2026				Q2.2026				Q3.2026				Q3.2025				YTD.2026				YTD.2025
Gain on sale of timberlands		$	(58	)		$	(71	)		$	—			$	—			$	(129	)		$	—

Selected Segment Items

in millions		Q1.2026				Q2.2026				Q3.2026				Q3.2025				YTD.2026				YTD.2025
Total (increase) decrease in working capital(2)		$	(18	)		$	85			$	(56	)		$	(22	)		$	11			$	13
Cash spent for capital expenditures(3)		$	(43	)		$	(24	)		$	(24	)		$	(37	)		$	(91	)		$	(82	)

(2) Represents the change in prepaid assets, accounts receivable, accounts payable, accrued liabilities and log inventory for the Timberlands and Strategic Land Solutions segments combined.

(3) Does not include cash spent for the acquisition of timberlands.

Segment Statistics(4)

			Q1.2026				Q2.2026				Q3.2026				Q3.2025				YTD.2026				YTD.2025
Third Party		Delivered logs:
Net Sales		West	$	144			$	171			$	160			$	169			$	475			$	507
(millions)		South		148				145				163				154				456				460
		North		14				9				13				13				36				35
		Total delivered logs		306				325				336				336				967				1,002
		Stumpage and pay-as-cut timber		10				11				15				22				36				45
		Recreational and other lease revenue		20				20				21				21				61				59
		Other revenue		20				11				6				7				37				35
		Total	$	356			$	367			$	378			$	386			$	1,101			$	1,141
Delivered Logs		West	$	106.76			$	115.27			$	118.52			$	110.68			$	113.57			$	115.52
Third Party Sales		South	$	37.26			$	38.20			$	37.67			$	36.65			$	37.70			$	37.15
Realizations (per ton)		North	$	70.65			$	78.31			$	74.35			$	72.75			$	73.69			$	72.56
Delivered Logs		West		1,347				1,487				1,345				1,529				4,179				4,387
Third Party Sales		South		3,968				3,812				4,324				4,217				12,104				12,397
Volumes (tons, thousands)		North		205				108				180				183				493				480
Fee Harvest Volumes		West		2,178				2,245				2,249				2,394				6,672				6,861
(tons, thousands)		South		5,915				5,955				6,428				6,431				18,298				18,784
		North		278				178				243				262				699				714

(4) Western logs are primarily transacted in MBF but are converted to ton equivalents for external reporting purposes.

Weyerhaeuser Company Strategic Land Solutions Segment

Q3.2026 Analyst Package

Preliminary results (unaudited)

Segment Statement of Operations

in millions		Q1.2026				Q2.2026				Q3.2026				Q3.2025				YTD.2026				YTD.2025
Net sales		$	207			$	140			$	99			$	103			$	446			$	351
Costs of sales			32				38				26				28				96				104
Gross margin			175				102				73				75				350				247
General and administrative expenses			6				8				6				7				20				20
Other operating income, net			—				—				—				(1	)			—				(4	)
Operating income and Net contribution to earnings		$	169			$	94			$	67			$	69			$	330			$	231

Adjusted Earnings before Interest, Tax, Depreciation, Depletion and Amortization(1)

in millions		Q1.2026				Q2.2026				Q3.2026				Q3.2025				YTD.2026				YTD.2025
Operating income		$	169			$	94			$	67			$	69			$	330			$	231
Depreciation, depletion and amortization			1				4				3				3				8				9
Basis of acres sold			23				31				16				19				70				76
Adjusted EBITDA(1)		$	193			$	129			$	86			$	91			$	408			$	316

(1) See definition of Adjusted EBITDA (a non-GAAP measure) on page 1.

Segment Statistics(2)

			Q1.2026				Q2.2026				Q3.2026				Q3.2025				YTD.2026				YTD.2025
Net Sales	Real Estate		$	69			$	91			$	51			$	62			$	211			$	196
(millions)	Natural Resources			27				34				27				30				88				75
	Climate Solutions			111				15				21				11				147				80
	Total		$	207			$	140			$	99			$	103			$	446			$	351
Acres Sold	Real Estate			17,141				21,168				12,827				11,982				51,136				45,623
Price per Acre	Real Estate		$	4,015			$	4,319			$	3,945			$	5,128			$	4,123			$	4,272
Basis as a Percent of Strategic Land Solutions Net Sales	Strategic Land Solutions			11	%			22	%			16	%			18	%			16	%			22	%

(2) Effective first quarter 2026, the segment previously called Real Estate, Energy & Natural Resources has been renamed Strategic Land Solutions. Reportable business lines included within the segment have been updated from Real Estate and Energy & Natural Resources to Real Estate, Natural Resources and Climate Solutions. Segment statistics for third quarter and year-to-date 2025 have been adjusted to present comparative data, with all changes attributable to the disaggregation of the Climate Solutions business.

Weyerhaeuser Company Wood Products Segment

Q3.2026 Analyst Package

Preliminary results (unaudited)

Segment Statement of Operations

in millions		Q1.2026				Q2.2026				Q3.2026				Q3.2025				YTD.2026				YTD.2025
Net sales		$	1,164			$	1,360			$	1,385			$	1,228			$	3,909			$	3,872
Costs of sales			1,087				1,223				1,283				1,218				3,593				3,575
Gross margin			77				137				102				10				316				297
Selling expenses			22				23				25				23				70				67
General and administrative expenses			39				37				40				39				116				118
Other operating (income) costs, net			(26	)			6				4				(33	)			(16	)			(21	)
Operating income (loss)			42				71				33				(19	)			146				133
Interest income and other			—				—				(1	)			—				(1	)			—
Net contribution (charge) to earnings		$	42			$	71			$	32			$	(19	)		$	145			$	133

Adjusted Earnings before Interest, Tax, Depreciation, Depletion and Amortization(1)

in millions		Q1.2026				Q2.2026				Q3.2026				Q3.2025				YTD.2026				YTD.2025
Operating income (loss)		$	42			$	71			$	33			$	(19	)		$	146			$	133
Depreciation, depletion and amortization			57				58				58				56				173				166
Special items			(28	)			—				—				(29	)			(28	)			(29	)
Adjusted EBITDA(1)		$	71			$	129			$	91			$	8			$	291			$	270

(1) See definition of Adjusted EBITDA (a non-GAAP measure) on page 1.

Segment Special Items Included in Net Contribution to Earnings (Pretax)

in millions		Q1.2026				Q2.2026				Q3.2026				Q3.2025				YTD.2026				YTD.2025
Gain on lumber mill sale		$	—			$	—			$	—			$	(29	)		$	—			$	(29	)
Product remediation insurance recovery		$	(28	)		$	—			$	—			$	—			$	(28	)		$	—

Selected Segment Items

in millions		Q1.2026				Q2.2026				Q3.2026				Q3.2025				YTD.2026				YTD.2025
Total (increase) decrease in working capital(2)		$	(203	)		$	86			$	63			$	116			$	(54	)		$	8
Cash spent for capital expenditures(3)		$	(69	)		$	(115	)		$	(113	)		$	(88	)		$	(297	)		$	(243	)

(2) Represents the change in prepaid assets, accounts receivable, accounts payable, accrued liabilities and inventory for the Wood Products segment.

(3) Includes capital expenditures related to the construction of our Monticello engineered wood products facility of $32 million and $70 million in third quarter 2025 and year-to-date 2025, respectively, and $30 million, $63 million, $54 million and $147 million in first quarter 2026, second quarter 2026, third quarter 2026, and year-to-date 2026, respectively. These amounts are excluded for purposes of calculating Adjusted Funds Available for Distribution.

Segment Statistics(4)

in millions, except for third party sales realizations			Q1.2026				Q2.2026				Q3.2026				Q3.2025				YTD.2026				YTD.2025
Structural Lumber	Third party net sales		$	478			$	591			$	629			$	509			$	1,698			$	1,617
(volumes presented	Third party sales realizations		$	443			$	508			$	510			$	405			$	488			$	440
in board feet)	Third party sales volumes			1,081				1,163				1,233				1,259				3,477				3,674
	Production volumes			1,100				1,136				1,166				1,167				3,402				3,538
Oriented Strand	Third party net sales		$	167			$	180			$	172			$	167			$	519			$	600
Board	Third party sales realizations		$	236			$	242			$	237			$	231			$	238			$	276
(volumes presented	Third party sales volumes			707				743				726				727				2,176				2,177
in square feet 3/8")	Production volumes			742				745				735				750				2,222				2,230
Engineered Solid	Third party net sales		$	155			$	181			$	171			$	162			$	507			$	492
Section	Third party sales realizations		$	2,790			$	2,906			$	2,833			$	2,932			$	2,845			$	2,956
(volumes presented	Third party sales volumes			5.6				6.2				6.0				5.5				17.8				16.6
in cubic feet)	Production volumes			5.7				5.9				5.8				5.1				17.4				16.8
Engineered	Third party net sales		$	72			$	89			$	91			$	85			$	252			$	268
I-joists	Third party sales realizations		$	2,307			$	2,343			$	2,322			$	2,421			$	2,325			$	2,444
(volumes presented	Third party sales volumes			31				38				40				35				109				110
in lineal feet)	Production volumes			35				31				35				36				101				111
Softwood Plywood	Third party net sales		$	38			$	47			$	51			$	38			$	136			$	119
(volumes presented	Third party sales realizations		$	442			$	486			$	527			$	417			$	486			$	440
in square feet 3/8")	Third party sales volumes			86				97				96				91				279				271
	Production volumes			77				85				85				82				247				244
Medium Density	Third party net sales		$	31			$	31			$	37			$	39			$	99			$	107
Fiberboard	Third party sales realizations		$	1,172			$	1,148			$	1,147			$	1,157			$	1,155			$	1,171
(volumes presented	Third party sales volumes			26				27				33				33				86				91
in square feet 3/4")	Production volumes			28				25				33				35				86				94

(4) Third party net sales, third party sales realizations and third party sales volumes include sales of internally produced products and products purchased for resale primarily through our distribution business. Sales realizations include selling price plus freight, minus normal sales deductions.

Weyerhaeuser Company Unallocated Items

Q3.2026 Analyst Package

Preliminary results (unaudited)

Unallocated items are gains or charges not related to, or allocated to, an individual operating segment. They include all or a portion of items such as share-based compensation, pension and post-employment costs, elimination of intersegment profit in inventory and LIFO, foreign exchange transaction gains and losses and interest income and other.

Net Charge to Earnings

in millions		Q1.2026				Q2.2026				Q3.2026				Q3.2025				YTD.2026				YTD.2025
Unallocated corporate function and variable compensation expense		$	(44	)		$	(42	)		$	(46	)		$	(37	)		$	(132	)		$	(120	)
Liability classified share-based compensation			—				—				1				1				1				1
Foreign exchange (loss) gain			(1	)			1				(1	)			—				(1	)			2
Elimination of intersegment profit in inventory and LIFO			(11	)			(12	)			(6	)			15				(29	)			(7	)
Other, net			(23	)			(19	)			(15	)			14				(57	)			(30	)
Operating loss			(79	)			(72	)			(67	)			(7	)			(218	)			(154	)
Non-operating pension and other post-employment benefit costs			(14	)			(14	)			(15	)			(19	)			(43	)			(57	)
Interest income and other			4				4				4				6				12				17
Net charge to earnings		$	(89	)		$	(82	)		$	(78	)		$	(20	)		$	(249	)		$	(194	)

Adjusted Earnings before Interest, Tax, Depreciation, Depletion and Amortization(1)

in millions		Q1.2026				Q2.2026				Q3.2026				Q3.2025				YTD.2026				YTD.2025
Operating loss		$	(79	)		$	(72	)		$	(67	)		$	(7	)		$	(218	)		$	(154	)
Depreciation, depletion and amortization			3				1				5				3				9				8
Special items			—				—				—				(26	)			—				(26	)
Adjusted EBITDA(1)		$	(76	)		$	(71	)		$	(62	)		$	(30	)		$	(209	)		$	(172	)

(1) See definition of Adjusted EBITDA (a non-GAAP measure) on page 1.

Unallocated Special Items Included in Operating Loss and Net Charge to Earnings (Pretax)

in millions		Q1.2026				Q2.2026				Q3.2026				Q3.2025				YTD.2026				YTD.2025
Insurance recovery		$	—			$	—			$	—			$	(26	)		$	—			$	(26	)

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