Disclaimer

Forward Looking Statements

Some of the statements contained in this presentation, including statements regarding our portfolio development approach, our pending acquisitions, and other investment opportunities, our future growth prospects and targeted returns, farmland investment characteristics and certain trends, constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates,"

"projects," "predicts," or "potential" or the negative of these words or similar words, which are predictions of or indicate future events or trends and which do not relate solely to historical matters. You can also identify forward-looking statements by discussions of strategy, plans or intentions.

The forward-looking statements contained in this presentation reflect our current views about future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances, many of which are beyond our control, that may cause actual results to differ significantly from those expressed in any forward-looking statement. While forward-looking statements reflect our good faith beliefs, assumptions and expectations, they are not guarantees of future performance. Furthermore, we expressly disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in the underlying assumptions or factors, new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause our future results to differ significantly from any forward-looking statements, see the section entitled "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2019, and our other filings with the Securities and Exchange Commission.

This presentation contains statistics and other data that has been obtained from or compiled from information made available by third parties. We believe that the information obtained from or compiled by third parties is reliable, but we have not independently verified such information.

Executive Summary

  • § Largest U.S. Public Farmland REIT (NYSE: FPI)

    • o IPO in April 2014

    • o Total assets of approximately $1.1 billion 1

    • o Portfolio spanning approximately 156,500 acres across 16 states 1

    • o Farmed by over 100 tenants growing approximately 26 varieties of crops 1

  • § Premier Farmland Assets

    • o FPI believes the U.S. is the world's most appealing agriculture market to invest

    • o Seek highest quality properties (soil, water availability, transport access and tenant profile)

    • o Primarily core investments while also selectively considering special opportunities

  • § Highly Experienced Team

    • o Individuals with experience in finance and agriculture

    • o Company and predecessor have been investing in farmland for over 20 years

    • o Team invests across all core U.S. farming regions where it has deep local knowledge and networks

    • o Approximately 9% of FPI shares owned by insiders 2

  • § Efficient and Scalable Platform

    • o Overhead costs of less than 100 bps of gross real estate assets 3

    • o Potential to realize additional economies of scale with future acquisitions

____________________

  • (1) Statistics as of June 2, 2020.

  • (2) On a fully diluted basis including OP Units.

  • (3) Statistic based on results reported for the year ended December 31, 2019. Overhead costs include General and administrative and Legal and accounting.

Farmland Partners Inc. - Company Overview

Portfolio Overview

Focused on Core U.S. Farm Regions

Crop Types

Based on 2019 Revenues

Location of FPI Investments

Livestock

Farm by Cost Basis

!(

(!

$0 - $2,070,000 $2,070,001 - $5,215,155

!( $5,215,156 - $11,000,000

!(

$11,000,001 - $18,660,000

(! $18,660,001 - $48,310,000

____________________

(1) Example crop types, not comprehensive.

(!(!(

!(!(!(! !(!(

!(!(!(!(!(!(!(!(!(!(!(!(!(

!(!(!(!(!

(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!( !!(!(!(!(!(!(!((!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(

!(!!(

!(!(!(!(!(!( !(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!( !(

!(!(

!(!(!(

Livestock1 FeedlotsPermanent/ Specialty Crops 1

Almonds, avocados, walnuts, pecans, pistachios, wine grapes, non-tree fruits, vegetables, etc.

Row Crops 1

Corn, soybeans, rice and cotton

December 31, 2019

Corn Belt Delta + South High Plains Southeast West Coast

35%

28%

28%

10% 8% 19% 28%

18% 20% 27% 7%

9% 8% 20% 35%

Geographic Diversification

Region

Cost Basis

Acres

2019 Revenue

Financial Highlights

Q1 2020 Balance Sheet Highlights1

(in thousands, except share counts)

FY2019 P&L Highlights2

(in thousands, except per share metrics)

Total Real Estate (at cost)

Total Real Estate (net)

Cash

Debt

Series A Preferred Equity

Series B Participating Preferred Equity

  • $ 1,100,664

  • $ 1,073,458

  • $ 14,994

  • $ 511,283

  • $ 117,877

  • $ 141,885

Common Shares 29,596,208

Common OP Units 1,903,792

Total Fully Diluted Shares 31,500,000

____________________

  • (1) As of March 31, 2020, except share count as of June 2, 2020.

    Total Revenues

    NOI

    Adjusted EBITDAre

    Diluted Net Income Available to Common

    Stockholders, Per Share

    Fully Diluted AFFO/Share

  • (2) For definitions and reconciliations of net operating income (NOI) and Adjusted EBITDAre and for the definition and reconciliation of AFFO, refer to our earnings press release dated May 7, 2020.

  • $ 53,564

  • $ 45,667

  • $ 36,444

  • $ 0.04

  • $ 0.13

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Farmland Partners Inc. published this content on 02 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 July 2020 15:58:06 UTC