Investor Presentaiton

A sizeable share of farms have insufficient cash-flow to service debt. Term Debt Coverage (Times) 7 6 TDC1 indicates insufficient current cash- flow to service intermediate and long-term debt payments. 5 4 3 2 1 0 -1 20% 40% 60% 80% 100% 20% Net Farm Income Percentile 2012 40% 60% 80% 100% Net Farm Income Percentile Source: FINBIN database, University of Minnesota. Note: States limited to Illinois, Minnesota, Nebraska, North Dakota, and South Dakota. 2016 FDIC

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