RNAL DISTRIBUTION *** Date: Wed, 14 Oct 2015 15:46:01 +0000 Attachments: American Fannland.pdf *** APPROVED FOR EXTERNAL DISTRIBUTION *** Issuer: American Farmland Company Symbol: AFCO Deal size: 12,000,000 shares (100% primary) plus 15% greenshoe (100% primary) Offer range: $8.50 -10.50 Exchange: NYSE Anticipated

RY PROSPECTUS DATED OCTOBER 6, 2015 • E PROSPECTUS E = 5" fa -,E, AMERICAN •-• CC O.) FARMLAND N 16 Company 0) 2 a., — 5 s 11 .12 American Farmland Company is an internally managed real estate company that owns a diversified portfolio of high-quality farmland, consisting of mature permanent. specialty/v

ate, local or non-U.S. tax consequences. For purposes of this discussion, references to "we," "us" or "our," and any similar terms, refer solely to American Farmland Company and not our operating partnership. The information in this section is based on the current Code, current, temporary and proposed lleasury Regulatio

American Farmland Company Pro Forma Consolidated Statement of Operations (unaudited) OPERATING REVENUES: Year Elided December 31, 2014 Actual Pra-fanna Adjuiclmenb, Y

American Farmland Company Notes to Consolidated Financial Statements (Continued) (Unaudited) 3. FAIR VALUE MEASUREMENTS (Continued) The following table summarizes the leve

American Farmland Company Notes to Unaudited Pro Forma Consolidated Financial Statements I. Adjustments to the Pro Forma Consolidated Balance Sheet and Income Statements (A

American Farmland Company Notes to Consolidated Financial Statements (Continued) (Unaudited) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) intangible assets ac

American Farmland Company Notes to Consolidated Financial Statements (Continued) 6. BORROWINGS UNDER CREDIT FACILITY (Continued) purposes. Thc facility bears interest on th

American Farmland Company Notes to Consolidated Financial Statements (Continued) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) the lease. Should a tenant termin

American Farmland Company Notes to Consolidated Financial Statements (Continued) 10. SEGMENT INFORMATION (Continued) Below is a summary of operating income by segment for t

American Farmland Company Notes to Consolidated Financial Statements (Continued) 7. RELATED PARTY TRANSACTIONS (Continued) AFA is entitled to a performance fee equal to 15%

American Farmland Company Notes to Consolidated Financial Statements (Continued) (Unaudited) 11. SEGMENT INFORMATION (Continued) Below is a summary of the investment in re

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