approximately 2.7% of farms equating to 10% of the land, both of which we believe indicate there is significant opportunity to increase such ownership. Competitive Strengths We believe the following characteristics differentiate us from our competitors: • National, Diversified and Growing Portfolio of Farms. Our portfolio is comprised of 18 farms with approximately 16,136 gross acres with more than 21 crop varieties (approximately 40 if sub-varieties are counted), some of which are planted in rotation, in Alabama, Arkansas, California, Florida, Georgia and Illinois. We believe our U.S. focus allows for better comparable geographic and crop type diversification and fewer comparable legal, political and infrastructure risks than other global regions. We believe that we have greater cash flow stability and more acquisition opportunities as a result of our diversification: (i) through numerous crop varieties; (ii) across USDA Regions as well as high-quality sub-regions and micmclimates; (iii) through negotiated lease structures (e.g., fixed or participating) of differing durations; (iv) through varied farm tenants and tenant types (e.g., family operation or corporate entity); and (v) by property plans (e.g., development, mature or alternate higher and better use including so-called "Path of Progress" farming potential). • I figh-Quality Farms. Our portfolio is comprised of high-quality farms in select U.S. agricultural markets that we believe are characterized by generally superior quality of soils suitable for the applicable crop type, adequate water availability (ground and/or surface water or water availability within growing region) and are located in prime growing regions with demand for the applicable type of farmland. We conduct extensive due diligence on all farms prior to completing an acquisition. Characteristics analyzed include: (i) soil quality (mineral content, chemistry, water retention and drainage) and suitability for crop type; (i