This section of the Firm Brochure contains a general description of UBS Farmland Investors, LLC (also referred to as “we,” “our,” the “Firm,” or “UBS Farmland Investors”), as well as information regarding our ownership structure, the types of advisory services we provide and the investment instruments we use, how we tailor advisory services to client needs, and our participation in managed account programs (wrap fee programs). General description and ownership UBS Farmland Investors LLC is organized as a Massachusetts limited liability company and is a wholly owned subsidiary of UBS Realty Investors LLC, which itself is a wholly owned subsidiary of UBS Americas Inc., a wholly owned subsidiary of UBS Americas Holdings LLC, which in turn is owned by UBS AG and ultimately by UBS Group AG, a publicly traded Swiss corporation (SIX and NYSE: UBS) (“UBS”). UBS Farmland is registered with the U.S. Securities and Exchange Commission (“SEC”) as an investment adviser pursuant to the Investment Advisers Act of 1940, as amended (the “Advisers Act”). Our headquarters are in Hartford, Connecticut. The operational structure of UBS is comprised of the Corporate Center and four business divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management and the Investment Bank. The UBS Asset Management business division was formed through the merger of Union Bank of Switzerland and Swiss Bank Corporation in 1998. In 2000, the merger culminated in the integration of the investment teams of the respective asset management businesses: UBS Asset Management, Brinson Partners (Chicago firm established in the 1980s) and Phillips & Drew (London firm established in 1895). In 2002, with the integration complete, the firm rebranded as UBS Global Asset Management, known today as UBS Asset Management. On June 12 2023 UBS announced the legal closure of its acquisition of Credit Suisse. An enhanced offering from UBS’s combination with Credit Suisse should help clients achieve their financial goals, thanks to additional value, scale, services, and global reach. The UBS Asset Management business division is itself divided into multiple separate businesses that provide asset management services globally. 1. UBS Asset Management (Americas) LLC.(“UBS AM”) offers discretionary and non-discretionary investment advisory, investment management and sub-advisory services to various clients through their Equities, Fixed Income, and Investment Solutions platforms and wrap fee programs. 2. UBS O’Connor LLC (“O’Connor”), a wholly owned subsidiary of UBS AM, provides discretionary and non-discretionary investment advisory services to various types of pooled investment vehicles, pension or profit sharing plans, and institutional separately managed accounts. 3. UBS Hedge Fund Solutions ("HFS"), another wholly-owned subsidiary of UBS AM, offers investment advisory services regarding investments in pooled investment vehicles, some of which are registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”), as well as institutional and ultra-high net worth investors. 4. Real Estate & Private Markets (“REPM”) includes: UBS Realty Investors LLC (“UBS Realty”), which is the primary U.S. real estate business within REPM; UBS Farmland Investors, a subsidiary of UBS Realty and which is covered in this Firm Brochure. The direct infrastructure ("DI") and multi- manager Real Estate; Private Equity; Infrastructure ("MM-RE/PE/Infra") business are covered within the Brochure for UBS AM 5. UBS Asset Management Trust Company (the "Trust Company") acts as trustee and investment manager to certain collective investment trusts. 6. UBS Fund Management Services ("FMS") provides administrative services primarily to traditional investment funds domiciled outside of the United States. 7. Credit Suisse Asset Management LLC ("CS") is an indirect wholly owned subsidiary of UBS Group AG, a publicly owned foreign bank holding company based in Switzerland. It has complementary and additional products and services to those of UBS AM. The UBS AM, O'Connor, HFS, UBS Realty, Trust Company FMS and CS businesses are not covered by this Firm Brochure. On March 1, 2024, UBS Asset Management (Americas) Inc. converted its legal form from a Delaware corporation to a Delaware limited liability company and was renamed UBS Asset Management (Americas) LLC. In addition to this company reorganization, UBS Asset Management expects to complete an internal reorganization of certain businesses and to bring together

UBS and Credit Suisse investment capabilities within the U.S., intended to streamline operations and bring together investment capabilities. A step in that reorganization will be the merger of O’Connor and HFS with and into UBS Asset Management (Americas) LLC, on or about April 1, 2024, with UBS Asset Management (Americas) LLC being the surviving legal entity. Upon completion of this merger, O’Connor and HFS will no longer be a distinct legal entity but instead will perform the investment advisory services it does today as separate business units of UBS Asset Management (Americas) LLC as certain areas within REPM Americas function today Our predecessor, AgriVest Inc., was initially formed in 1983 by the officers of the Agricultural Investment Division of Connecticut Mutual Life Insurance Company (“Connecticut Mutual”). In 1996, the business was sold to Allegis Realty Investors and reorganized as AgriVest LLC. In December 1999, AgriVest LLC was acquired by UBS AG and AgriVest LLC’s name was changed to UBS AgriVest LLC. In March 2016, the name was changed to UBS Farmland Investors LLC. UBS Farmland Investors has over 30 years of experience investing in farmland. Our predecessor organization was one of the first firms appointed by tax-exempt institutions to manage agricultural real estate equity investments; our senior officers’ experience with equity investments in permanent cropland properties dates back to the early 1970s. They structured some of the first institutional equity investments in permanent cropland properties when working together at Connecticut Mutual. Type of advisory services UBS Farmland Investors provides investment advisory services to its clients in connection with the acquisition or sale and management of agricultural real estate assets. Crops typically grown on land managed by UBS Farmland Investors include corn, soybeans, wheat, rice, cotton, various nuts, premium wine grapes, apples and citrus fruits. In all, over 30 different types of fruits, nuts, vegetables and grains are grown on land managed by UBS Farmland Investors. The Firm currently manages a commingled vehicle, as well as individual farmland accounts, collectively referred to as “accounts.” The accounts have appointed UBS Farmland Investors to provide investment advisory services with respect to investing in portfolios of agricultural assets. We may periodically seeks to offer new closed and open-end funds and separately managed accounts investing in agricultural real estate. Tailoring advisory services to client needs Investors choosing to invest their assets in the commingled fund are purchasing shares of the commingled fund and are not advisory clients of the Firm. The commingled fund is therefore managed in accordance with guidelines set forth in the fund’s governing documents; underlying investors cannot impose restrictions on the fund investments. Separately managed agricultural account clients determine investment guidelines and restrictions, such as limitations on how much can be invested in a property type or how much can be invested in any one geographic region. Any such guidelines are communicated to us in writing. We then tailor an overall strategy and an agricultural real estate investment plan designed to conform to the objectives, guidelines and restrictions. If an agricultural real estate investment decision involves any action not permitted under the applicable guidelines, the approval of the client is required prior to taking such action. Clients who invest through individually managed agricultural real estate accounts may be viewed as advisory clients if they obtain securities-related advice with respect to any ancillary cash generated by the agricultural real estate. These clients can impose investment guidelines or restrictions applicable to their advisory agreements. Providing portfolio management services to wrap fee programs Our services are designed for institutional investors; we do not target our services to retail clients and we do not participate in any wrap fee programs. Assets under management Client regulatory assets under management for UBS Farmland Investors as of December 31, 2023 are as follows: U.S. Dollar Amount Discretionary: $ 0 Non-Discretionary $0 Total: $0 When counting and classifying regulatory assets under management only include those accounts and assets where we provide securities related advice or meet the definition of private funds. UBS Farmland Investors LLC manages $2.4 billion in agricultural investments as of December 31, 2023.