EFTA Document EFTA01385004

American Farmland Company Pro Forma Consolidated Statement of Operations (unaudited) OPERATING REVENUES: Year Elided December 31, 2014 Actual Pra-fanna Adjuiclmenb, Year Ended December 31, 2014 Prtatorma Fixed rent $ 3,289,130 - $ 3,289,130 Participating rent 3,608,309 - 3,608,309 Recovery of real estate taxes 310,643 - 310,643 Other income 52,981 - 52,981 Total operating revenues 7,261,063 - 7,261,063 OPERATING EXPENSES: Depreciation 1,530,911 - 1,530.911 Management and performance fees - related party 2,528,255 (2,528,255) 11:') - Sub-advisory 1,420,069 (D1 1,420,069 Property operating expenses 1,351,655 - 1,351,655 Acquisition-related expenses 44,712 17,719 (n) 62,431 Professional fees 406,008 - 406,008 General and administrative expenses 273.321 2592,500 (F) 2,865,821 Total operating expenses 6,134,862 1,502,033 7,636,895 OPERATING INCOME 1,126,201 (1502,033) (375,832) Other (income) expense: Interest income (1,980) - (1,980) Interest expense and financing costs 119,094 - 119.094 Total other expense 117,114 - 117,114 INCOME BEFORE GAIN ON SALE OF LAND 1,009,087 (1,502,033) (492,946) Gain on sale of land 47,701 47,701 NET INCOME 1,056.788 (1,502,033) (445,245) Less net income attributable to non-controlling interests 346,071 (420,821) tot (74,741) NET INCOME ATTRIBUTABLE TO THE COMPANY 710,717 $(1,081221) $ (370,504) EARNINGS PER WEIGHTED AVERAGE COMMON SHARE: Basic and diluted 007 (0.11) 00 (0.04) WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING: Basic and diluted 10,404,087 un 10.404,087 F-6 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. R 6(e) DB-SDNY-0085809 CONFIDENTIAL PROT1 PROT0