Exposure to water and high air humidity may affect the preservation of wood products as many preservatives are water-soluble and thus likely to leach. In this study, depletion of a common fungicide, tebuconazole (TAZ), from treated wood was investigated using a C-labeled tracer. The wood species and treatment technique were chosen to be representative of products such as windows and doors; specifically, ponderosa pine was dip treated with a solvent-based, metal-free formulation. The impact of different aqueous settings including high air humidity, and either simulated continuous or intermittent rain was evaluated over a period of two months. Along with the exposure type, the effect of end-grain sealing on TAZ loss was explored. Despite the exposure of treated wood to laboratory-simulated harsh environmental conditions, more than 60% of the originally sorbed TAZ remained in the wood under all scenarios. While high air humidity did not lead to TAZ depletion, simulated continuous rain led to a TAZ leaching mainly from the end grain. TAZ leaching was found to be higher for unpainted wood, where up to 40% of the originally sorbed TAZ was prone to depletion from an end grain. End-grain sealing with water-based primer and paint led to a substantial two-fold reduction of TAZ leaching. Unexpectedly, wood exposure to intermittent rain caused additional TAZ loss that could not be explained only by water leaching.