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Farmland Partners Well Positioned as Grain Harvest Nears

Farmland Partners Inc. (NYSE: FPI) (the “Company” or “FPI”) today said that the lower corn and soybean yields in the U.S. Midwest, as reported by Pro Farmer’s Midwest Crop Tour in August, highlight the importance of enhancing farms’ resilience through targeted improvement investments.

Pro Farmer collected data from more than 100 crop scouts who sampled thousands of fields ahead of harvest across seven states, including Illinois and Nebraska where FPI owns farmland.

“The late start to planting and current dry conditions will lower overall production forecasts in the Midwest, but we think our tenants will fare better than many of their peers,” said FPI Chairman and CEO Paul Pittman. “The Company buys high-quality farmland and is willing to invest in farm improvements to help insulate its tenants from adverse conditions as much as possible.”

FPI closely considers soil quality, water availability, and climate risk as part of its acquisition evaluation process, and it often invests in irrigation systems, drainage projects, and grain storage to improve the resiliency and profitability of the properties it buys.

Healthy soils, which are supported by rotating crops and farming techniques like reduced tillage, hold more water, reduce erosion, and enable farmers to plant earlier, as does proper drainage. Irrigation helps offset dry periods, and grain storage systems make harvest timelier and more efficient.

“It’s vital for our farmers to maximize their harvests because grain supplies are low and food prices are rising in the face of weather challenges and the conflict in Ukraine.” Pittman added. “Maximizing our tenants’ production potential not only helps feed more people, but it is financially beneficial for them, for our Company, and ultimately for our shareholders.”

Pittman said that countering weather risk is a big reason why FPI’s portfolio spans coast to coast, rather than being focused on one single region, and includes dozens of different crop types. He also said that current commodity prices could benefit the Company in the long haul.

“Grain prices are strengthening, which is boosting farmland values and generating optimism about next year’s growing season,” Pittman explained. “Tight supplies globally also underscore the importance of fertile farmland and productive farmers.”

Higher commodity prices are improving farmers’ incomes, too. The U.S. Department of Agriculture ("USDA"), last week, increased its farm earning forecast for 2022.

“Total crop receipts are expected to increase by $36.4 billion (15.3 percent) from their 2021 level following higher receipts for soybeans, corn, and wheat,” according to the USDA. “These increases would put total cash receipts in 2022 at their highest level on record, even after adjusting prior years for inflation.”

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 makes loans to farmers secured by farm real estate. As of the date of this release, the Company owns and/or manages more than 185,750 acres in 18 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Nebraska, North Carolina, South Carolina, and Virginia. We have approximately 26 crop types and more than 100 tenants. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014. Additional information: www.farmlandpartners.com or (720) 452-3100.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the federal securities laws, including, without limitation, statements with respect to expected yields on acquired farmland, our outlook, proposed and pending acquisitions and dispositions, the potential impact of trade disputes and recent extreme weather events on the Company's results, financing activities, crop yields and prices and anticipated rental rates. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" or similar expressions or their negatives, as well as statements in future tense. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, beliefs and expectations, such forward-looking statements are not predictions of future events or guarantees of future performance and our actual results could differ materially from those set forth in the forward-looking statements. Some factors that might cause such a difference include the following: general volatility of the capital markets and the market price of the Company's common stock, changes in the Company's business strategy, availability, terms and deployment of capital, the Company's ability to refinance existing indebtedness at or prior to maturity on favorable terms, or at all, availability of qualified personnel, changes in the Company's industry, interest rates or the general economy, adverse developments related to crop yields or crop prices, the degree and nature of the Company's competition, the timing, price or amount of repurchases, if any, under the Company's share repurchase program, the ability to consummate acquisitions or dispositions under contract and the other factors described in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, and the Company's other filings with the Securities and Exchange Commission. Any forward-looking information presented herein is made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

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