PitchSend

Investor Presentaiton

Income Statement Overview (a) Item Fixed Payments • Variable Payments Direct Operations Gross Profit Other Supp. Category Fixed Payments FARMLAND PARTNERS • • Explanation Fixed farm rent Wind, solar, recreation rent Tenant reimbursements Management fees & interest income Rent paid by tenants, determined as a percentage of the farm revenue Low-risk variable rent: one large ~$6.5 million Crop sales and crop insurance proceeds less cost of goods sold Auction and brokerage commissions Miscellaneous Timing of Cash Farm rent: 50% to 100% of individual leases paid before planting (generally Q1) • Vast majority of cash received after harvest in Q4, with some spillover into Q1 • Varies by crop • Varies .. • Timing of Revenue Recognition Generally straight-lined over the term of the lease contract Variable rent is generally recognized when FPI has certainty of amounts Crop sales, crop insurance, and COGS are recognized when FPI has certainty of amounts . Varies Rental Income GAAP Revenue Categories Tenant Reimb. • Fixed farm rent . Tenant Solar, wind, recreation rent reimbursements Variable farm rent Variable Payments Direct Operations Gross Profit Other Items GAAP Expense Crop Sales Other Revenue Cost of Goods Sold Crop sales • Crop insurance Cost of goods sold • Auction Brokerage • Misc. items (various) (a) For revenue and cost of goods sold details, please see Supplemental Packages: https://www.farmland partners.com/ > Investor Relations > Events & Presentations. FPI 9 LISTED NYSE

View entire presentation