December 13, 2017

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Pope Resources Announces Unit Repurchase Authorization

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POULSBO, Wash., Dec. 7, 2017 /PRNewswire/ — Pope Resources (NASDAQ: POPE) announced today the extension and expansion of its Unit Repurchase Authorization (“Authorization”) for an additional $1.3 million. Following the successful execution of its original $1.2 million Authorization, the Partnership believes that extending and expanding the Authorization will continue to provide an attractive opportunity for allocating capital while also offsetting the potentially dilutive impact of the Partnership’s equity compensation plans. The extended Authorization became effective on December 7, 2017, and will continue for one year or until the additional authorized funds of $1.3 million have been deployed, whichever is first.

About the Unit Repurchase Authorization

The extended Authorization permits the Partnership to repurchase limited partnership units having an aggregate value of not more than $1.3 million, subject to certain specified conditions and other contingencies.

The Authorization permits the Partnership to repurchase units pursuant to a programmed trading plan adopted in accordance with Securities Exchange Act Rule 10b5-1 (“Rule 10b5-1”), and permits the Partnership to enter into one or more programmed trading plans permitted under that rule. Any programmed trading plan would be initially implemented only at a time during which no legal or regulatory restriction exists and while no blackout period is in effect. The Authorization anticipates that management will take appropriate measures to comply with the requirements of the Securities Exchange Act of 1934, as amended, that are applicable to issuer repurchases. Rule 10b5-1 allows an issuer to repurchase its securities at times when it otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods. Separate from the Authorization, repurchases also may be made from time to time in the open market and through privately negotiated transactions, subject to general market conditions.

The unit repurchase period will commence immediately and may continue for up to twelve months. While the aggregate maximum purchase price of units repurchased under the Authorization is $1.3 million, any repurchase as well as the actual price of any units repurchased under the Authorization is subject to management’s discretion and to the terms of any applicable Rule 10b5-1 plan. There is no guarantee as to the exact number of units that will be repurchased under the Authorization, and the Partnership may, subject to Rule 10b5-1, discontinue purchases at any time. Repurchased units will be redeemed and retired.

Notices

This news release does not constitute

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