Farmland Partners Inc.Announces Farmland Appreciation Amount for its 6.00% Series B Participating Preferred Shares

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DENVER, August 6, 2021 / PRNewswire / – Farmland Partners Inc. (NYSE: FPI) (the “Company”) today released the Cumulative Appraisal of Farmland Value (“FVA”), FVA Factor and FVA Amount. date for 2021, as those terms are defined in the final prospectus for the Company’s 6.00% Series B Participating Preferred Shares (NYSE: FPIPRB) (“Series B Preferred Shares”).

The FVA factor and FVA amount were calculated using data contained in the 2021 Summary of Land Values, which was released today by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, Department of United States Agriculture (USDA). The report is available via the following link: https://release.nass.usda.gov/reports/land0821.pdf.

Based on the portfolio state weightings established under the Series B Preferred Shares, the cumulative FVA for the period ending September 30, 2021 is 12.33%, which gives an FVA factor of 6.16% and an FVA amount of $ 1.54. The FVA Amount plus the initial liquidation preference is equal to $ 26.54.

The calculation of these amounts appears at the end of this press release and will also be published in the “Investor Relations” section of the Company’s website.

About Farmland Partners Inc.

Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire high quality North American farmland and provides loans to farmers secured by farm real estate. As of the date of this release, the Company owns and / or manages approximately 161,000 acres in 16 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, Caroline from the south, South Dakota and Virginia. We have around 26 types of crops and over 100 tenants. The Company elected to be taxed as a real estate investment trust, or REIT, for US federal income tax purposes, effective the tax year ended. the 31st of December, 2014. Additional information: www.farmlandpartners.com or (720) 452-3100.








Assessment of the total amount of FVA per participating preferred share Series B at 6%




Real estate values ​​2017

Real estate values ​​2021

Portfolio Status


Relative
Weighting
Applied in
Determination
FAV (1)

Actual FVA
Value (2)

Assigned
Reference
Value

Actual FVA
Value (3)

FVA value
Related to
august 2017
Reference

Illinois


34.344%

$ 7,300

100.0

$ 7,900

8.22%

California


19.265%

$ 8,700

100.0

$ 10,900

25.29%

Caroline from the south


6.892%

$ 3,000

100.0

$ 3,600

20.00%

North Carolina


6.695%

$ 4,450

100.0

$ 4,750

6.74%

Colorado


6.318%

$ 1,430

100.0

$ 1,610

12.59%

Arkansas


5.776%

$ 3,180

100.0

$ 3,390

6.60%

Nebraska


4.292%

$ 2,900

100.0

$ 3,100

6.90%

Louisiana


4.275%

$ 3,000

100.0

$ 3,220

7.33%

Florida


3.580%

$ 5,700

100.0

$ 6,020

5.61%

Mississippi


2.037%

$ 2,500

100.0

$ 2,860

14.40%

Georgia


1.923%

$ 3,550

100.0

$ 3,670

3.38%

Michigan


1.451%

$ 4,800

100.0

$ 5,300

10.42%

Texas


0.855%

$ 2,090

100.0

$ 2,380

13.88%

Virginia


0.752%

$ 4,350

100.0

$ 4,700

8.05%

South Dakota


0.696%

$ 2,180

100.0

$ 2,190

0.46%

Kansas


0.484%

$ 1,850

100.0

$ 2,100

13.51%

Alabama


0.365%

$ 2,750

100.0

$ 3,200

16.36%








Cumulative FVA





12.33%








FVA factor (50% of cumulative FVA)




6.16%








FVA amount





$ 1.54








FVA amount + initial liquidation preference


$ 26.54








(1)

Based on the total unaudited book value of our properties in each Portfolio State as of June 30, 2017.
These will be the weighting factors for the measurement of the cumulative FVA and the amount of the premium and
will not change at any time with respect to the Series B Participating Preferred Shares.

(2)

Represents the 2017 property values ​​as published in the 2017 Property Values ​​report for each State in the portfolio.
These values ​​will remain constant for the purposes of calculating the FVA Amount, notwithstanding any
revisions to 2017 property values ​​in subsequent property value reports.

(3)

Represents the 2021 property values ​​as published in the 2021 property values ​​report for each portfolio state.
Figures represent statewide averages according to the survey methodology, as defined in the final prospectus for
the Company’s 6.00% participating preferred shares, Series B.

SOURCE Farmland Partners Inc.

Related links

http://www.farmlandpartners.com


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