Curating Best-in-Class Portfolio

Vertical Farming Growth Driven by Multiple Factors Resource Constraints Water 40% deficit expected by 2030 REALTY INCOME Land Climate Productivity gains 11-14% increase crop land needed to meet 2030 demand. 3-16% lower productivity by 2080 +2.2% Average Annual Yield increase in 1960s +1.2% Average Annual Yield increase today 20% of arable land has been degraded. NNW 20 25 Annual Food Consumption Growth Trillion Kcal consumption per day, globally 30 Vertical Farming Efficiency Conventional Greenhouse Vertical Water use per kg of produce Lettuce Tomato 250 liters 20 liters 220 liters 50 liters 1 liters 10 liters 15 Crop Yield per M2 Transport Distance Land use per kg of produce 4 kg 41 kg 80-120 kg 500-1,000 2,000+ miles 50 miles miles 2006 2030 2050 Source: World Agriculture Towards 2030/2050, FAO. McKinsey & Co. 39

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