EFTA01385006

AMERICAN FARMLAND COMPANY AND SUBSIDIARIES Consolidated Statements of Operations (Unaudited) OPERATING REVENUES Sim Meeks Ended Jose 30. 2015 2014 Fixed rent $ 2,536,293 $ 1,601,853 Participating rent 2,329,564 1,928,039 Recovery of real estate taxes 230.759 154,083 Other income 41,800 60,475 Total operating revenues 5,138,416 3,744,450 OPERATING EXPENSES Depreciation 893,294 735,035 Management and performance fees—related party 2,024,796 1,159,387 Property operating expenses 804,414 697,939 Acquisition-related expenses 44,712 Professional fees 234,311 196,145 General and administrative expenses 146,715 116,997 Total operating expenses 4,103,530 2,950,215 OPERATING INCOME 1,034,886 794,135 Other (income) expenses: Interest income (898) (1,479) Interest expense and financing costs 213,490 42,608 Total other expense 212,592 41,129 INCOME BEFORE (LOSS) GAIN ON SALE OF LANE) 822,294 753,106 (Loss) gain on sale of land 54,617 INCOME BEFORE INCOME TAXES 822,294 807,723 Income tax provision (79,832) NET INCOME 742,462 807,723 Less net income attributable to non-controlling interests 262,738 215,917 NET INCOME ATTRIBUTABLE TO TILE COMPANY $ 479,724 $ 591,806 EARNINGS PER COMMON SHARE Basic and diluted $ 0.04 $ 0.06 WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING Basic and diluted 10,890,847 10,387,915 The accompanying notes are an integral part of these financial statements. F-12 CONFIDENTIAL - PURSUANT TO FED. R CRIM P 6(e) DI3-SDNY-0085815 CONFIDENTIAL SDNY_GM_00231999 EFTA01385006