Gladstone Land : Investor Presentation as of August 7, 2023

A Farmland Real Estate Investment Trust

Investor Presentation

As of August 7, 2023

Legal Disclaimers

ESTIMATES

This presentation contains industry and market data, forecasts, and projections that are based on internal data and estimates, independent industry publications, reports by market research firms, or other published independent sources. We believe these data to be reliable as of the date of this presentation, but there can be no assurance as to the accuracy or completeness of such information. We have not independently verified all market and industry data obtained from these third-party sources. Our internal data and estimates are based upon information obtained from trade and business organizations, other contacts in the markets in which we operate, and our management's understanding of industry conditions. You should carefully consider the inherent risks and uncertainties associated with the market and other industry data contained in this presentation.

FORWARD-LOOKING STATEMENTS

This presentation may include statements that constitute "forward-looking statements" within the meaning of the Securities Act of 1933 or the Securities Exchange Act of 1934. These forward-looking statements include comments with respect to our objectives and strategies and the results of our operations and our business. By their nature, these forward-looking statements involve numerous assumptions, uncertainties and opportunities, both general and specific. The risk exists that these statements may not be fulfilled. We caution readers of this presentation not to place undue reliance on these forward-looking statements, as a number of factors could cause future Company results to differ materially from these statements, including those factors listed under the caption, "Risk Factors," in our Form 10-K and 10-Q filings and our registration statement, including our prospectus and prospectus supplement, as filed with the Securities and Exchange Commission ("SEC"), all of which can be found on the investors section of our website, www.GladstoneLand.com, or the SEC's website, www.SEC.gov. Any results or performance implied by forward-looking statements may be influenced in particular by factors such as fluctuations in interest rates and stock indices, the effects of competition in the areas in which we operate, and changes in economic, political, regulatory, and technological conditions. We caution that the foregoing list is not exhaustive. When relying on forward-looking statements to make decisions, investors should carefully consider the aforementioned factors as well as other uncertainties and events. The Company has no duty to, and does not intend to, update or revise any forward-looking statements, except as required by law.

PAST OR PRESENT PERFORMANCE DISCLAIMER

This presentation includes information regarding past or present performance of the Company. Please note that past or present performance is not a guarantee of future performance or future results.

NON-SOLICITATION

This presentation shall not be an offer for sale or the solicitation of an offer to buy the Company's securities. This presentation may not be used in connection with any offer to sell or solicitation to buy any securities of the Company.

2

Gladstone Land Overview

Three Areas of Farming

We believe that farmland growing fresh produce (e.g., fruits and vegetables) and certain permanent crops (e.g., blueberries and nuts) is a superior investment over land growing commodity crops (e.g., corn, wheat, and soy), due to:

• Higher profitability and rental income
• Lower price volatility
• Lower government dependency
• Lower storage costs
• Location typically closer to major urban populations, thus higher development potential

4

U.S. Farmland: Decreasing Supply, Increasing Demand

As available farmland to feed the world's growing population continues to decline, U.S. cropland has steadily appreciated in value. Further, we believe the amount of available farmland in the U.S. will con nue to decrease.

• Every year, large amounts of farmland are converted to suburban uses, such as housing subdivisions, schools, parks, office buildings, government buildings, and industrial buildings.

We believe climate change has already negatively impacted many growing regions across the world, putting prime farmland in optimal climates in even higher demand.

We believe a lower supply of arable land will lead to higher profitability for the most fertile farms, and will lead to steady apprecia on of value and rental growth

2. (i) The World Bank, Food and Agriculture Organization, World Development Indicators (updated March 2023), and (ii) Food and Agriculture Organization of the United Nations, Agricultural Development Economics Division, World Agriculture Towards 2040/2050, The 2012 Revision (latest version available).