Gladstone Land : Investor Presentation as of May 12, 2025

Published: 2025-06-03 12:17:06 ET LAND

Published on 06/03/2025 at 12:17

A Farmland Real Estate Investment Trust

Investor Presentation

As of May 12, 2025

Gladstone Land Overview

Owns farmland and farm-related facilities leased to high-quality farmers, primarily on a triple-net basis, meaning the farmer pays rent, insurance, maintenance, and taxes.

Currently owns 150 farms with approximately 103,000 total acres in 15 states and over 55,000 acre-feet of water assets in California. Our acreage is currently 95.9% occupied*.

Primarily buys farmland used to grow healthy foods, such as fruits, vegetables, and nuts.

One of five public companies managed by an SEC-registered investment advisor with over

$4.0 billion of assets under management and over 70 professionals.

3 Note: * Based on farmable acreage; includes direct-operated farms.

Three Areas of Farming

We believe that farmland growing fresh produce (e.g., fruits and vegetables) and certain permanent crops (e.g., blueberries and nuts) is a superior investment over land growing commodity crops (e.g., corn, wheat, and soy), due to:

▸ Higher profitability and rental income

▸ Lower price volatility

▸ Lower government dependency

▸ Lower storage costs

▸ Location typically closer to major urban populations, thus higher development potential

4

U.S. Farmland: Decreasing Supply, Increasing Demand

As available farmland to feed the world's growing population continues to decline, U.S. cropland has steadily appreciated in value. Further, we believe the amount of available farmland in the U.S. will continue to decrease.

▸ Every year, large amounts of farmland are converted to suburban uses, such as housing subdivisions, schools, parks, office buildings, government buildings, and industrial buildings.

We believe climate change has already negatively impacted many growing regions across the world, putting prime farmland in optimal climates in even higher demand.

10.0

9.0

8.0

7.0

6.0

5.0

4.0

3.0

2.0

1.0

0.0

1.2

1.0

0.8

0.6

0.4

0.2

0.0

0.90

0.65

0.55

0.44

0.38

1960 1980 2000 2020 2040*

We believe a lower supply of arable land will lead to higher profitability for the most fertile farms, and will lead to steady appreciation of value and rental growth

5

Note: * Estimated

Sources: 1. United Nations, Department of Economic and Social Affairs, Population Division (2024). World Population Prospects: The 2024 Revision, Online Edition.

2. (i) The World Bank, Food and Agriculture Organization, World Development Indicators (updated January 2025), and (ii) Food and Agriculture Organization of the United Nations, Agricultural Development Economics Division, World Agriculture Towards 2040/2050, The 2012 Revision (latest version available).

Disclaimer

Gladstone Land Corporation published this content on June 03, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 03, 2025 at 16:16 UTC.