EFTA01385011

American Farmland Company Consolidated Balance Sheets ASSETS: December 31, 2014 2013 Cash and cash equivalents $ 7.466.642 $ 4,213,056 Investments in real estate—net 140,104,858 114,801715 Rent receivable 1,549,175 416,444 Other assets 1,976.137 £20,245 Total assets $151.096.812 $120,252,460 LIABILITIES AND EQUITY: LIABILITIES: Borrowings under credit facility $ 20,400,000 $ Accrued expenses and other liabilities 2,856,580 1,252,262 Subscription received in advance 5,250,000 Performance fee payable to AIM 1,231,398 849,351 Management fee payable to AM 331,143 310,130 Unearned rent 1,587,976 1,004,458 Total liabilities 31,657,097 3,416,201 EQUITY: Common stock, $0.01 par value-10,436,902 shares issued and outstanding at December 31, 2014 and 10,444,584 shares issued at December 31, 2013 104,369 104,445 Preferred stock, $0.01 par value-29 shares issued and outstanding at December 31, 2014 and 2013 Additional paid-in-capital 105,445,855 105,407,077 Treasury stock-405,200 shares at December 31, 2013 (4,362,265) Accumulated deficit (6,672,472) (4,779,920) Company stockholders' equity 98,877,752 96,369,337 Non-controlling interests in operating partnership 20,561.963 20.466,922 Total equity 119.439,715 116,836,259 Total liabilities and equity $151,096,812 $131,252,460 See notes to consolidated financial statements. F-30 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. R 6(e) CONFIDENTIAL SDNY_GM_00232017 DB-SDNY-0085833 EFTA01385011