Risk Warning

This investment involves a high degree of risk. It is speculative and suitable only for persons who have substantial financial resources and have no need for liquidity in this investment. Further, this investment should only be made by those who understand or have been advised with respect to the tax consequences of and risk factors associated with the investment and who are able to bear the substantial economic risk of the investment for an indefinite period of time. See “Risk Factors” in the Confidential Private Placement Memorandum. Alternative investments, including U.S. farmland, may be illiquid, there may be no liquid secondary market or ready purchasers for such assets, they may not be required to provide periodic pricing or valuation information to investors, there may be delays in distributing tax information to investors, they are not subject to the same regulatory requirements as other types of pooled investment vehicles, and they may be subject to high fees and expenses, which will reduce profits. Alternative investments are not suitable for all investors and should not constitute an entire investment program. Investors may lose all or substantially all of the capital invested. The historical returns achieved by alternative asset vehicles is not a prediction of future performance or a guarantee of future results, and there can be no assurance that comparable returns will be achieved by any strategy. Farmland investments are less developed, more illiquid, and less transparent compared to traditional asset classes. Investments will be subject to risks generally associated with the ownership of real estate-related assets, including changes in economic conditions, currency values, environmental risks, the cost of and ability to obtain insurance, risks related to leasing of properties, fluctuations in property values, higher expenses or lower income than expected, currency movement risks, and potential weather and environmental problems and liabilities.