EFTA01385010

American Farmland Company Notes to Consolidated Financial Statements (Continued) (Unaudited) 11. SEGMENT INFORMATION (Continued) Below is a summary of the investment in real estate, net by segment as of June 30, 2015 and December 31, 2014, respectively. Total Specialty/ Commodity Vegetable Row Row Penman* Development June 30, 201.5 S144,549,533 $32,563,909 $12,811,781 $58,603,590 $40,570,253 December 31, 2014 S140,104,858 $32,555,903 $12,858,974 $58,848,809 $15,841,172 Below is a summary of operating income by segment for the six months ended June 30, 2015 and 2014, respectively. Six Months Ended inn 30, 2015 Total Commodity Row Spcdalty Vegetable Row Permanent Development Corporate OPERATING REVENUES: Fixed rent $2,536,293 $797,379 $385,450 $1,109,005 $244,459 $ Participating rent 2,329,564 — 2,331,486 (1,922) Recovery of real estate taxes 230,759 — 46,218 178,203 6,338 — Other income 41,800 300 21,500 20.000 Tbtal operating revenues 5,138,416 797.679 453,168 3,638,694 248,875 OPERATING EXPENSES: Depreciation 893,294 1,535 47,193 730,570 113,996 Management and performance fees-related party 2,024,796 — — — — 2,024,7% Property operating expenses 804.414 147,892 81,815 418,924 155,783 — Professional fees 234,311 1,062 1,931 2,172 n9,146 General and administrative 146,715 — — — — 146.715 lbtal operating expenses. 4,103,530 149.427 130.070 1,151,425 271,951 2,400,657 Operating income (loss) . 1,034,886 $648,252 $323,098 $2,487,269 $ (23,076) $(2,400,657) Total other expense 212,592 Income before income taxes 822,294 Income tax provision (79,832) Net income 742,462 Less net income attributable to non-controlling interests 262,738 Net income attributable to the Company $ 479,724 F-26 CONFIDENTIAL - PURSUANT TO FED. R. CRIM P 6(e) DB-SDNY-0085829 CONFIDENTIAL SDNY_GM_00232013 EFTA01385010