Gladstone Land (LAND) investor relations material

Company overview and business model

• Externally managed agricultural REIT focused on owning and leasing farmland, primarily through variable and fixed rent structures.

• Owns 144 farms totaling 98,688 acres across 14 U.S. states and significant water assets in California as of April 7, 2026.

• Properties are concentrated in regions suitable for fresh produce, permanent crops, and, to a lesser extent, commodity crops.

• Operates under an UPREIT structure, with all properties held by a majority-owned operating partnership.

• Adviser and Administrator are affiliates, providing management and administrative services under contractual agreements.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for general corporate purposes, including debt repayment, property acquisitions, capital expenditures, improvements, distributions, and working capital.

• Management retains broad discretion over the allocation of proceeds, with specific uses detailed in accompanying prospectus supplements.

• Pending use, proceeds may be temporarily invested in short- and intermediate-term, interest-bearing obligations or U.S. government securities.

Risk factors and disclosures

• Substantial risks include market volatility, failure to maintain REIT status, tenant concentration, and environmental liabilities.

• Risks are detailed in the Annual Report on Form 10-K for the year ended December 31, 2025, and subsequent filings.

• Forward-looking statements are subject to uncertainties, including economic conditions, interest rates, and regulatory changes.

• New risk factors may emerge that could materially affect the business.