Tejon Ranch : Fact Shee

UNLOCKING VALUE

Uniquely Positioned to Monetize Tens of Thousands of Acres

Tejon Ranch owns the largest contiguous piece of private land in California, along the heavily trafficked north/south corridor. With necessary relevant local legislative entitlements granted for two of three large-scale master planned communities, and cash generated from its commercial/industrial real estate development activities, the Company has a strong strategic vision for unlocking asset value to drive profitable growth.

Delivering Significant Value as a Fully Integrated Real Estate Developer The company's Tejon Ranch Commerce Center (TRCC) includes 8.9 million square feet of absorbed industrial/commercial space, comprised of major distribution centers and retail operations, and an additional 11.1 million square feet of monetizable space available. Industrial land values have increased 151% over the last five years, while rents have improved 188% over the same time frame. The development of a multi-familyapartment complex with up to 495 units will transition TRCC to a vibrant mixed-usecommunity.

Positive Macro Trends for Next Phase of Growth

With high barriers to entry for California real estate development, Tejon Ranch is strategically and geographically positioned to capitalize on California's need for housing with plans for the construction of more than 35,000 homes.

Strong Foundation Supported by Diversified Operations

Steady cash flow generated from the Company's diversified operations, including commercial/industrial development, mineral resources, farming and ranch operations, enables investment in development of additional real estate assets.

Committed, Experienced Executive Team Driving Strategic Vision Led by President and CEO, Greg Bielli, who has more than 30 years of real estate, land acquisition, development and financing experience, the executive team has a proven track record of success in generating cash through commercial/industrial real estate development and securing necessary entitlements paving the way for future master planned community development. In the last two years, Tejon Ranch has successfully developed nearly 2.0 million square feet, all fully leased.

AT A GLANCE

Incorporated:

1936

52-Week Range:

$14.31-$20.65

Recent Price:

$16.68

Market Capitalization:

$445.8 M

Shares Outstanding*:

26.5 M

2022 Revenue† :

$87.6 M

Cash and Marketable Securities*:

$72.6 M

Total Assets*:

$566.8 M

LT Debt*:

$48.2 M

Cash Flow from Operations*: $8.5 M

* As of December 31, 2022

• Includes equity in earnings of unconsolidated joint ventures