Weyerhaeuser · Earnings release · 8-K Exhibit 99

Weyerhaeuser Company

Preliminary results (unaudited)

Consolidated Statement of Operations

Q1

Q2

Year-to-Date

in millions

Net sales

$

$

$

$

$

Costs of sales

Gross margin

Selling expenses

General and administrative expenses

Gain on sale of timberlands

)

)

—

)

—

Other operating (income) costs, net

)

7

Operating income

T1Non-operating pension and other post-employment benefit costs

)

)

)

)

)

Interest income and other

4

4

6

8

Interest expense, net of capitalized interest

)

)

)

)

)

Earnings before income taxes

Income taxes

)

)

—

)

Net earnings

$

$

$

$

$

Per Share Information

Q1

Q2

Year-to-Date

Earnings per share, basic and diluted

$

$

$

$

$

Dividends paid per common share

$

$

$

$

$

Weighted average shares outstanding (in thousands):

Basic

Diluted

Common shares outstanding at end of period (in thousands)

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

Q1

Q2

Year-to-Date

in millions

Net earnings

$

$

$

$

$

Non-operating pension and other post-employment benefit costs

Interest income and other

(4

)

(4

)

(6

)

(8

)

)

Interest expense, net of capitalized interest

Income taxes

)

—

Operating income

Depreciation, depletion and amortization

Basis of acres sold

Special items included in operating income

)

)

—

)

—

Adjusted EBITDA(1)

$

$

$

$

$

(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

Preliminary results (unaudited)

Special Items Included in Net Earnings (Income Tax Affected)

Q1

Q2

Year-to-Date

in millions

Net earnings

$

$

$

$

$

Gain on sale of timberlands

)

)

—

)

—

Product remediation insurance recovery

)

—

—

)

—

Net earnings before special items(1)

$

$

$

$

$

Q1

Q2

Year-to-Date

Net earnings per diluted share

$

$

$

$

$

Gain on sale of timberlands

)

)

—

)

—

Product remediation insurance recovery

)

—

—

)

—

Net earnings per diluted share before special items(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. 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

Year-to-Date

in millions

Pension and post-employment costs:

Pension and post-employment service costs

$

4

$

5

$

5

$

9

$

9

Non-operating pension and other post-employment benefit costs

Total company pension and post-employment costs

$

$

$

$

$

Weyerhaeuser Company

Preliminary results (unaudited)

Condensed Consolidated Balance Sheet

in millions

ASSETS

Current assets:

Cash and cash equivalents

$

$

$

Receivables, net

Receivables for taxes

8

5

Inventories

Assets held for sale

—

—

Prepaid expenses and other current assets

Total current assets

Property and equipment, net

Construction in progress

Timber and timberlands at cost, less depletion

Minerals and mineral rights, less depletion

Deferred tax assets

Other assets

Total assets

$

$

$

LIABILITIES AND EQUITY

Current liabilities:

Current maturities of long-term debt

$

$

$

Accounts payable

Accrued liabilities

Total current liabilities

Long-term debt, net

Deferred tax liabilities

Deferred pension and other post-employment benefits

Other liabilities

Total liabilities

Total equity

Total liabilities and equity

$

$

$

Weyerhaeuser Company

Preliminary results (unaudited)

Consolidated Statement of Cash Flows

Q1

Q2

Year-to-Date

in millions

Cash flows from operations:

Net earnings

$

$

$

$

$

Noncash charges (credits) to earnings:

Depreciation, depletion and amortization

Basis of acres sold

Deferred income taxes, net

1

)

—

)

4

Pension and other post-employment benefits

Share-based compensation expense

Gain on sale of timberlands

)

)

—

)

—

Other

1

—

—

1

—

Change in:

Receivables, net

)

)

)

Receivables and payables for taxes

1

6

)

Inventories

)

)

)

Prepaid expenses and other current assets

2

2

4

Accounts payable and accrued liabilities

)

Pension and post-employment benefit contributions and payments

(5

)

(4

)

(3

)

(9

)

(6

)

Other

4

)

)

(8

)

)

Net cash from operations

$

$

$

$

$

Cash flows from investing activities:

Capital expenditures for property and equipment(1)

$

)

$

)

$

)

$

)

$

)

Capital expenditures for timberlands reforestation

)

(8

)

(8

)

)

)

Proceeds from lumber mill sale

—

—

—

Proceeds from sale of timberlands

—

—

Other

1

(4

)

(4

)

(3

)

(8

)

Net cash from investing activities

$

$

(7

)

$

)

$

$

)

Cash flows from financing activities:

Cash dividends on common shares

$

)

$

)

$

)

$

)

$

)

Net proceeds from issuance of long-term debt

—

—

—

—

Net proceeds from issuance of commercial paper

—

—

—

Payments on long-term debt

)

)

—

)

)

Payments on commercial paper

—

)

—

)

—

T2Repurchases of common shares

)

)

)

)

)

Other

(4

)

(2

)

(1

)

(6

)

)

Net cash from financing activities

$

)

$

)

$

)

$

)

$

)

Net change in cash, cash equivalents and restricted cash

$

)

$

$

$

$

)

Cash, cash equivalents and restricted cash at beginning of period

Cash, cash equivalents and restricted cash at end of period

$

$

$

$

$

Cash paid during the period for:

Interest, net of amounts capitalized

$

$

$

$

$

Income taxes, net of refunds

$

$

—

$

6

$

$

(1) Includes capital expenditures related to the construction of our Monticello engineered wood products facility of $22 million and $38 million in second quarter 2025 and year-to-date 2025, respectively, and $30 million, $63 million and $93 million in first quarter 2026, second 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

Preliminary results (unaudited)

Segment Statement of Operations

in millions

Sales to unaffiliated customers

$

$

$

$

$

Intersegment sales

Total net sales

Costs of sales

Gross margin

Selling expenses

—

1

1

1

1

General and administrative expenses

Gain on sale of timberlands

)

)

—

)

—

Other operating costs (income), net

1

—

—

1

(1

)

Operating income and Net contribution to earnings

$

$

$

$

$

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

in millions

Operating income

$

$

$

$

$

Depreciation, depletion and amortization

Special items

)

)

—

)

—

Adjusted EBITDA(1)

$

$

$

$

$

(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

Gain on sale of timberlands

$

)

$

)

$

—

$

)

$

—

Selected Segment Items

in millions

Total (increase) decrease in working capital(2)

$

)

$

$

$

$

Cash spent for capital expenditures(3)

$

)

$

)

$

)

$

)

$

)

(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)

Third Party

Delivered logs:

Net Sales

West

$

$

$

$

$

(millions)

South

North

9

8

Total delivered logs

Stumpage and pay-as-cut timber

Recreational and other lease revenue

Other revenue

Total

$

$

$

$

$

Delivered Logs

West

$

$

$

$

$

Third Party Sales

South

$

$

$

$

$

Realizations (per ton)

North

$

$

$

$

$

Delivered Logs

West

Third Party Sales

South

Volumes (tons, thousands)

North

Fee Harvest Volumes

West

(tons, thousands)

South

North

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

Weyerhaeuser Company

Strategic Land Solutions Segment

Preliminary results (unaudited)

Segment Statement of Operations

in millions

Net sales

$

$

$

$

$

Costs of sales

Gross margin

General and administrative expenses

6

8

6

Other operating income, net

—

—

(2

)

—

(3

)

Operating income and Net contribution to earnings

$

$

$

$

$

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

in millions

Operating income

$

$

$

$

$

Depreciation, depletion and amortization

1

4

4

5

6

Basis of acres sold

Adjusted EBITDA(1)

$

$

$

$

$

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

Segment Statistics(2)

Net Sales

Real Estate

$

$

$

$

$

(millions)

Natural Resources

Climate Solutions

Total

$

$

$

$

$

Acres Sold

Real Estate

Price per Acre

Real Estate

$

$

$

$

$

Basis as a Percent of

Strategic Land Solutions Net Sales

Strategic Land Solutions

%

%

%

%

%

(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 second 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

Preliminary results (unaudited)

Segment Statement of Operations

in millions

Net sales

$

$

$

$

$

Costs of sales

Gross margin

Selling expenses

General and administrative expenses

Other operating (income) costs, net

)

6

6

)

Operating income and Net contribution to earnings

$

$

$

$

$

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

in millions

Operating income

$

$

$

$

$

Depreciation, depletion and amortization

Special items

)

—

—

)

—

Adjusted EBITDA(1)

$

$

$

$

$

(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

Product remediation insurance recovery

$

)

$

—

$

—

$

)

$

—

Selected Segment Items

in millions

Total (increase) decrease in working capital(2)

$

)

$

$

$

)

$

)

Cash spent for capital expenditures(3)

$

)

$

)

$

)

$

)

$

)

(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 $22 million and $38 million in second quarter 2025 and year-to-date 2025, respectively, and $30 million, $63 million and $93 million in first quarter 2026, second 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

Structural Lumber

Third party net sales

$

$

$

$

$

(volumes presented

Third party sales realizations

$

$

$

$

$

in board feet)

Third party sales volumes

Production volumes

Oriented Strand

Third party net sales

$

$

$

$

$

Board

Third party sales realizations

$

$

$

$

$

(volumes presented

Third party sales volumes

in square feet 3/8")

Production volumes

Engineered Solid

Third party net sales

$

$

$

$

$

Section

Third party sales realizations

$

$

$

$

$

(volumes presented

Third party sales volumes

in cubic feet)

Production volumes

Engineered

Third party net sales

$

$

$

$

$

I-joists

Third party sales realizations

$

$

$

$

$

(volumes presented

Third party sales volumes

in lineal feet)

Production volumes

Softwood Plywood

Third party net sales

$

$

$

$

$

(volumes presented

Third party sales realizations

$

$

$

$

$

in square feet 3/8")

Third party sales volumes

Production volumes

Medium Density

Third party net sales

$

$

$

$

$

Fiberboard

Third party sales realizations

$

$

$

$

$

(volumes presented

Third party sales volumes

in square feet 3/4")

Production volumes

(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.

Weyerhaeuser Company

Unallocated Items

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

Unallocated corporate function and variable compensation expense

$

)

$

)

$

)

$

)

$

)

Liability classified share-based compensation

—

—

1

—

—

Foreign exchange (loss) gain

(1

)

1

2

—

2

Elimination of intersegment profit in inventory and LIFO

)

)

(4

)

)

)

Other, net

)

)

)

)

)

Operating loss

)

)

)

)

)

Non-operating pension and other post-employment benefit costs

)

)

)

)

)

Interest income and other

4

4

6

8

Net charge to earnings

$

)

$

)

$

)

$

)

$

)

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

in millions

Operating loss

$

)

$

)

$

)

$

)

$

)

Depreciation, depletion and amortization

3

1

2

4

5

Adjusted EBITDA(1)

$

)

$

)

$

)

$

)

$

)

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