Filing pursuant to Rule 425 under the

Securities Act of 1933, as amended

And deemed filed under Rule 14a-12 under the

Securities Exchange Act of 1934, as amended

Filer: PotlatchDeltic Corporation

Subject Company: CatchMark Timber Trust, Inc.

Filer’s Commission File Number: 001-36239

Date: May 31, 2022

PotlatchDeltic Corporation (“PotlatchDeltic”) posted the following to its website relating to the proposed transaction contemplated by that certain Agreement and Plan of Merger, dated as of May 29, 2022 (the “Merger Agreement”), by and among PotlatchDeltic, Horizon Merger Sub 2022, LLC, a wholly owned subsidiary of PotlatchDeltic, CatchMark Timber Trust, Inc. and CatchMark Timber Operating Partnership, L.P.


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PotlatchDeltic Merger with CatchMark May 31, 2022 Eric Cremers PotlatchDeltic Corporation President & Chief Executive Officer Brian Davis CatchMark Timber Trust, Inc. President & Chief Executive Officer


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Additional Information & Forward-Looking Statements IMPORTANT ADDITIONAL INFORMATION ABOUT THE PROPOSED TRANSACTION This communication is being made in respect of the proposed merger transaction involving PotlatchDetic Corporation (,.,PotlatchDettic) andCatchMark Timber Trust, Inc. (“CatchMark”). This communication doesnot constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of anyvote or approval, nor shall there be any sate of securities in any jurisdktion in which such offer, solkitation or sale w ould be unlawful prior to registration or qualification under the securities laws of such jurisdiction. In connectionw ith the proposed transaction, PotlatchDeftic plans to file w ith the Securities and Exchange Commi2iion (“SEC”) a Registration Statement on Form S-4 that constitutesa prospectusof Potfa:chOettic and wil also i nclude a proxy statement of CatchMark. After the Registration Statement hasbeen declcred effective, CatchMark willm ai1 the definitive proxy statement/prospectus to its stockholders. The proxystatement/prospectus to be filed with the SEC related to the proposed merger will contain important information about PotlatchDeltic, catchMark. the propo. sed transaction and related maner.s. lnve.stors are urged to carefully read the proxy statement/prospectus and other documents to be filed with the SEC (or incorporated by reference into the proxy statement/prospectus) in connection wit h the proposed merger, when available. ln vestorsw ill beable to obtain freecopiesof the proxystatement/ prospectus, when it is filedwith the SEC, through thew ebsite maintained by the SEC at www.sec.gov. In addition, investors will be able to obtai’l freecopiesof the proxy statement/ prospecrusand other documentsfitedw ith the SEC by the partieson PotlatchDet ic’sw ebsite at www.ootlatchdettic.com (which w ebsite isnot incorporated herein by reference), for documentsfiled with theSEC b y PotlatchDettic, or onCatchMark’swebste atwww.catchmark.com (which w ebsite is not incorporated herein by reference), for documentsfiledwith the SEC byCatchMark. PARTICIPANTS IN THE SOLICITATION PotlatchDeftic and catch Mark and their respective di rectors and officers and certain other members of managementand employees may be deemed to be partidpants in the solidtation of proxies from stockholders of catchMark in connection with the merger transaction. Certain information about the directors and executive officers of PodatchOeltic isset forth in i ts Annual Report on Form 1o-K for the year ended December 31, 20 21, whi ch w as filed wi th the SEC on February 17, 20 22, and i ts proxy statement for i ts 2022 annual meeting of stockholders, whi ch w as filed w ith the SEC on March 29, 20 22, and will be contained i n the proxy statement/ prospectus described above when i t is filed wi th the SEC. Certain information about the directors and exerutive officers of COtchMark isset forth in its Annual Report on Fonn 1Q-K for the year ended De-cember 31, 20 21, whi ch w as filed wi th the SEC on March 3, 20 22 and i ts proxy statement for its 2022 annual meeting of stockholders, which w as filed wi th the SEC on Apri1 15, 2022, and will be contained in the proxy statement/ prospectus described above when i t is filed wi th the SEC. You can obtain free copies of these document from PotiatchOeltic and catchMalik using the contact in formation above. NON-GAAP MEASURES This presentation includesnon-GAAP financial information. Definitionsare included in this presentationwhich is available on the company’s website at www.potlatchdettic.com.


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Additional Information & Forward-Looking Statements CAUTION ABOUT FORWARD-LOOKING STATEMENTS Statementsmade i n thiscommunication and related statementsthat expregs PotlatchDettk’s, Catch Mark’s or their respective management’sintentions., hopes, indications, beliefs. e xpectations, or predictions of the future constitute forward-looking statements., asdefined by the Private Securitieslitigation Reform Act of 1995, and relate to matters that are not hi9:orical facts. Theg: statementsi nclude those regarding thed osing of the mergertransa:tion, the e xpeaed timing ofthemergertransaction and the potentia le tfectsof the mergertransa:tion, induding ifit does not close. These statements are notguaranteesof future performance or events and are subject to risks, uncertai’ltiesand assumptions thatcould cause actual resuttsor eventstovary materially from those indicated in thiscommuntcation, including: the inability to obtain regulatory approvalsof the merger transaction on the proposed termsand schedule; the failure of Catch Mark’s stockholders to appr01e the merger transa:tion; disruption to PotlatchOeltic’s orCatchMark’s business; i ncluding customer, employee and supplier relationshipsresulting from the merger transaction; the inability to i mplement businessplans, forecag_s, and other expectationsafter thecompletion of the proposed merger transection, and to identify and reaize synergiesor other expected benefits; the occurrence of any event, change, or otherc ircumstance thatcould give ri se to a termination of thedefinitive agreement relating to the proposed merger transaction; and other factors described in PotlatchDettic’sandCatchMark’s reports f itedwiththe SEC, induding their respective annual reports fortheyear ended December 31, 2021 and subsequent quarterly reports, which risks and uncertaintiesare incorporated herein by reference. You arecautioned not to p la:e undue relicnce on these forward· looking statements, which speak onty asof the dateof thiscommunication. Except to the extent required by l ctoN, PotlatchDeftk and CatchMark disclaim any obligation to update any forward-looking statementsafter the di stribution of thiscommunication, whether asa resultof new information, future events, changes in as assumptions, or otherwise.


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Compelling Strategic and Financial Rationale Strategic Rationale Diversified timberland ownership of ~ 2. 2 million acres with ~70%located in strengthening southern markets Remain top-ten U.S. Iumber producer with capacity of 1.1 BBF Broader real estate opportunities, including natural climate solutions Remain the timber REIT with the most leverage to lumber prices and aligned with robust industry fundamentals Expanded bolt-on growth opportunities Financial Rationale Combined market capitalization over $4 billion and enterprise value over $5 billion1 Compelling annual CAD2 synergies of $16 million (run rate basis) Accretive to CAD per share in the first full years Significant cash flow accretion Strong balance sheet and credit metrics Remain committed to investment grade rating


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Complementary Businesses PotlatchDeltic 119-year-old forest products company structured as a REIT 1.8 million timberland acres diversified across four southern states and Idaho Top-10 U.S. Iumber manufact urer with six sawmills and 1.1 BBF capacity One industrial grade plywood mill Rural and development real estate businesses Dedicated employees wit h commit ment to maintaining the highest safety standards 1,299 employees Commit ment to environmental and social responsibility and to responsible governance CatchMark 17-year-old timberland owner structured as a REIT First publicly traded pure play timber REIT ~350,000 acres in strong Alabama, Georgia, and South Carolina markets 100% of timberlands located in strong U.S. South markets Location near large population centers creates attractive rural land sales opportunities 20 employees Commit ment to environmental and social responsibility and to responsible governance


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Summary of Key Merger Terms Merger Structure Management & Board Location & Name Key Closing Conditions Stock-for-stock merger with 0.23 PCH shares issued for each en share Pro forma ownership: PCH stockholders 86%, en stockholders 14% Chairperson: Mike Covey President & CEO: Eric Cremers 10 member Board of Directors: 9 f rom PCH; 1 f rom en Corporate headquarters: Spokane, WA Regional office maintained in Atlanta, GA Name: PotlatchDeltic Corporation (Nasdaq: PCH) Catch Mark stockholder approval required (majority of total votes outstanding) Expected to close second half of 2022


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PotlatchDeltic and Catch Mark Combined Portfolio Legend Catch Mark Timberlands Headquarters PotlatchDeltic. Timberlands Wood Proc:luctsFacilities Chen a I Real Estate Headquarters


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High Quality Timberland Portfolio With Increased Geographic Diversity PotlatchDeltic Ownership Combined Ownership· ·~-Mi,ssiss.ippi, 5% Alabama, 5% Louisiana, 2% Arkansas, 45<ro Catch Mark Ownership’ _.-)llab;oma, 7’l’o South carolina, 20% Georgia, 62’l’o South carolina, 3% ‘-Louisiana, 1<ro Alabama, 18’l’o ~ I fxdudt<:S MH «:res lot Podatd!Ocltk. I Ududo ~d’lotl tnttveU lew Urtd ;M;ui. 8


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Catch Mark’s Timberlands Are Located in Some of the Strongest Markets in the U.S. South


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Catch Mark Operates in Some of the Best Pricing Regions in the U.S. South Rolling 4-guarter Pine Sawlog Price: Rolling4-0uarters Pine Pulpwood Price • PotlatchDeltic Markets • CatchMark Markets D Shared Markets


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Proximity of Catch Mark’s Timberlands to Large Population Centers Creates Meaningful Real Estate Opportunities Notable PotlatchDeltic rural real estate transactions: $13 million solar sale in Mississippi Q1 2022 ($7,500 per acre) 72,000-acre conservation sale in Minnesota Q4 2020 ($48 million) $20 million rural land sale in Arkansas Q2 2019 ($11,000 per acre)!


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Synergies Expected to Significantly Increase CAD Category I Additional CAD I Description Timberlands ~20% I nsou rce timberland manageme nt Management Efficie ntly manage public company costs across a larger asset base SG&A ~60% Achieve efficiencies through integrating systems and processes Refinance Catch Mark’s debt at lower, Interest ~20% below market interest rates utilizing existing PCH interest rate swaps I + $16 Million I


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Capital Allocation II Returning cash to shareholders remains our top capital allocation priority I) The combination and CAD1 synergies provide significant cash flow accretion II Strong coverage for an attractive and growing dividend I) High potential for 2022 special dividend II $49 million share repurchase authorization and l ObS-1 plan remain in place Utilizing forward-starting interest rate swaps reduces interest expense on Catch Mark debt to below-market rates Strong balance sheet and liquidity provide platform for continued growth 11 Robust credit metrics Lowest leverage 2 II of timber REITs 11 Committed to investment grade rating ~ I N~n—GMPme.nute: ~«’ GppendW lu-~ dt-of-inii.Oon. I Pto fu-nN tlC’t debt to entetl)rise value G t0%bbs<.ld Oll Potbtc:hOdtir:‘s dc»iug .stod·!lorice on May 27, 20 22,411<1 there:~~ a»nU41lid’ dcbtiJ!ld onh bftnco os o l March 31, 20 22.


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Combining Two Great Companies Highly comple me ntary businesses with increased scale and diversification Enter log markets that a re among the strongest in the U.S. South Expanded bolt-on growth opportunities Timber REIT with the most leverage to lumber prices and aligned with robust industry fundamentals Compelling CAD1 synergies Increasing cash flow provides strong coverage fo r an attractive and growing dividend Strong balance sheet and liquidity provide platform fo r continued growth Dedicated e mployees with commitme nt to the highest safety standards


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Definitions Total Adjusted EBITDDA is a non-GAAP measure and is calculated as net income adjusted for interest expense, income taxes, depletion, depreciation and amortization, basis of real estate sold, non-operating pension and other post-retirement benefit costs, pension settlement charge, gains and losses on disposition of fixed assets, net gains and losses on fire damage, and other special items. Cash Available for Distribution {CAD) is a non-GAAP measure and is calculated as cash from operations minus capital expenditures and timberland acquisitions not classified as strategic.


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PotlatchDeltic Merger with CatchMark May 31, 2022 Eric Cremers PotlatchDeltic Corporation President & Chief Executive Officer Brian Davis CatchMark Timber Trust, Inc. President & Chief Executive Officer

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