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Investor Presentaiton

2018 is forecast to be the fifth year of this ag down- cycle with the lowest net farm income since 2006. South Dakota: Net Farm Income Bil. $ US: Net Farm Income Bil. $ FDIC LO 5 4 3 2 140 - 120 - 100 - 80 - 60 1 .40 08 09 10 11 12 13 14 15 16 17 18 Source: United States Department of Agriculture/Haver Analytics

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