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PORTOLA LAND COMPANY, INC.

INVESTMENT SUMMARY

Investor Fact Sheet Portola Land Company, Inc. Portola Land Company, Inc. (Portola) is a private real estate investment trust (REIT) formed to invest in farmland located in major agricultural locales that is then leased to corporate and independent farmers. Portola currently owns farmland that we believe is worth more than $55 million. In addition, Portola is actively seeking other farmland properties for purchase.

The Vision of Portola

Achieve Steady Income Reduce Portfolio Risk Experience Steady

Appreciation

Investment Offering: Portola Land Company, Inc. Offering Structure: Non-Traded REIT Offering Size: Up to $25 million Minimum Investment: $25,000 Share Price: $10 Distribution Schedule: Annually, after harvest Return Objective: 10-12% per annum when fully producing

Investor Qualification: Net worth of at least $1 million or gross annual income in excess of $250,000

Prepared for informational purposes only and does not constitute an offer or solicitation to sell shares or securities in Portola Land Company, Inc. or any related or associated entity. Any such offer or solicitation will be made only by means of the Portola Land Company Inc.’s Confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. The information presented is not intended to be construed as a recommendation, or form the basis for any investment decision.


DOWNTIME

From November to February, almond trees remain dormant to survive the cold weather and store nutri-ents for the next crop.

Agricultural Heritage

Stueve Brothers

• Harold • Edgar • Elmer

SUCCESS

… from humble roots

The Stueve Family In 1945, with 61 cows and a milk wagon, three brothers, Harold, Edgar, and Elmer Stueve started Alta Dena Dairy. Together, they built Alta Dena into one of the world's largest dairies. When the family sold a majority of the company in 1989, it was generating more than $125 million a year in revenue. At the time, more than 70 family members worked for the dairy.

Today

The Stueve Family continues their grandparent’s and parent’s legacy by operating 10,000 acres of farmland in California ...



Between late February and early March, pink and white flowers bloom on the trees.

BLOOM

WHY ALMONDS? Why Almonds ◊ Almonds are the second largest agricultural cash product in California after milk. ◊ Approximately 80% of the world’s almonds are produced in California. ◊ 100% of the U.S. commercial almond supply is grown in California. ◊ Almonds are grown in California’s Central Valley, generally from Bakersfield

(south region) to Sacramento (north region). Due to several factors, such as weather, soil and pollination conditions, the north region enjoys substantially higher yields per acre than the south region.

◊ The existing ranch properties are located in Stanislaus County, California, in the

north region, which is aptly named the almond capital of the world. ◊ One in six acres in Stanislaus County is dedicated to growing almonds. ◊ With steadily increasing demand in China, India and the European Union, the USDA

forecasts that global almond exports will continue its upward trajectory, increas-ing approximately 5% in 2015,

◊ Almond orchards require growing conditions consistent with those found in the

San Joaquin Valley, and require 4 years to reach mature harvests. Farmers can-not just switch crops in a single season. With increased demand outpacing the development of new orchards, the long-range price of almonds likely will continue to rise. Economic studies produced by the Al-

mond Board suggest that breakeven financial results are achieved when an orchard harvests more than a ton of almonds per acre at a selling price of $2.00 per pound. Orchards in Stani-slaus County are currently producing more than 3,000 pounds of almonds per acre while current almond prices actually exceed $3.00 per pound.



After bees pollinate the flowers, the trees are ready to bear fruit.

B L O O M POLLINATION

IT ALL STARTS WITH THE LAND The Formula for

Success We have chosen land previously used for cow and cattle grazing, selecting proper sized acre-age with suitable access to dependable water supplies. Currently, we have approximately 2,000 acres of land under management, located in the heart of the San Joaquin Valley.

PREPARE THE LAND FOR INCOME PRODUCTION

GLE-Reservoir Almond Ranch One and GLE-Cashman Almond Ranch One, the two operating companies, have transformed the acreage into highest and best use almond orchards with 1,883 planted acres. To prepare the earth, rocky and uneven terrain has been cleared and graded, using the industry’s most modern machinery.

INSTALL THE WATER WELLS

Wells have been established on the ranch properties to draw an ample water supply from an underground aquifer. The wells have achieved 3,000 gallons per minute of flow through an installed drip irrigation system.

PLANT THE TREES

Approximately 273,000 almond trees have been planted on the 1,883 acres, selecting the proper tree density and species mix to optimize productive yield per acre. The trees have been hand treated to resist pests and diseases.

LEASE TO EXPERIENCED FARMERS

From cultivation to harvest and land maintenance, we employ state-of-the-art farming tech-niques and contract with the most qualified consultants and farmers to ensure maximum yield per acre.

SUCCESS EVEN BEFORE THE FIRST HARVEST

GLE-Reservoir Almond Ranch One, the operating company, will experience its initial harvest production with leaf #3 in 2015, and is confident the orchard will provide mature harvests thereafter. Even before producing any income, the land value has increased from a raw cost of $4,000 per acre to a developed cost of approximately $29,500 per acre.



From March to June, hulls begin to grow and kernels are formed.

GROWING UP

LOCATION

Why Our Real Estate Investment Trust

The orchards are located in Stanislaus County, the almond capital of the world. With the proceeds from the offering, we will acquire additional farmland for development.

INSTANT APPRECIATION IN LAND VALUES The net offering proceeds from your investment in Portola Land Company, Inc. will be utilized to acquire dry land for almond orchard development. Currently, such land is being offered for sale at $8,000 per acre. With an additional $11,000 in development and almond tree planting costs, derived from funds borrowed by the farm operators, the value of the land will increase to approximately $29,500 per developed acre.

OUR UNIQUE REIT The REIT owns only the land on which the orchards are planted. We contract with a farmer to lease the land for rates comparable to its fully developed value. It is the farmer that develops and owns the orchard and remits lease payments to the REIT. The farmer assumes the risk of operating the orchard at a profit, and the REIT enjoys the benefit of receiving lease payments based upon the land’s fully developed value.

UPSIDE PARTICIPATION EXPERIENCED OPERATORS

While GLE-Reservoir Almond Ranch One is managed by an experienced and technical operating team, the same personnel are currently developing GLE-Cashman Almond Ranch One. Similarly, we will lease future land acquisitions only to experienced farming-operators.

WELLS IN PLACE We own rights to the water beneath the land. Rather than relying on irrigation water from Federal or State sources that may be subjected to rationing, our wells are currently drawing water from a healthy aquifer.

LOCAL RESOURCES Farmers nearby have been operating almond orchards for decades while almond processing facilities are locally available.

UPSIDE PARTICIPATION In addition to the lease payments from the orchard, our REIT will receive a gross almond revenue bonus of 5% each year. This bonus provides the benefit of increased revenue during years of mature harvests and rising market prices. We intend to initiate similar lease clauses for land acquired in the future.



In July and early August, the almond hulls begin to split open, exposing the almond shell and allowing it to dry.

CRACKING OPEN

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From mid-August through October, the almonds are harvested by shaking the shells to the ground and collecting them afterwards.

HARVEST

RESERVOIR ALMOND RANCH ONE Investment Profile Reservoir Almond Ranch One

It is critically important that the investor fully comprehends the potential investment. While Portola owns the farmland and leases the holdings to a farmer, it is the farming-operator, not Portola, that owns the orchard improvements and assumes the risk of operating the farm in a profitable manner. Accordingly, Portola receives its income from lease payments and an annual gross almond revenue bonus paid by the farming-operator.

The initial Portola lease pertains to the farming entity known as GLE-Reservoir Almond Ranch One, or RARO. RARO encompasses approximately 673 total acres in Stanislaus County, California;. Before it was devel-oped into an almond ranch, RARO was used for decades as non-irrigated dairy cattle grazing land. The Ranch is situated in a FEMA rated Zone C flood plain, which indicates an area of minimal flood risk. RARO is relatively flat and lies adjacent to the Modesto Reservoir. The Reservoir provides potable water for the city of Modesto, which is not available for crop irrigation use. For this reason, wells have been drilled on the property to access ground water, with flowage in excess of what is required for the orchard.

Located about ten miles east of Waterford, California, on the west side of Crabtree Road, ingress is provid-ed via a deeded easement on the north side of the Modesto Irrigation District Inlet Canal. An estimated 91,000 almond trees were planted on 653 acres of RARO land between November 2012 and January 2013. With market values of $29,500 per planted acre, we believe the land is now worth more than $19 million.

To date, the farming-operator has obtained a $7.25 million loan for land improvements while Portola has a secondary liability in case of default. Any lease non-payment would be a default of the terms under which Portola would be able to assume ownership of the farming enterprise and lease it to another operator.

KEY STRENGTHS The Ranch is managed by an experienced and technologically advanced operating team.

Almond prices have increased sharply in recent years.

New technology is increasing the annual output of almond orchards.

Farmers have been operating almond orchards in Stanislaus County for decades and almond pro-cessing facilities are located nearby.

The development of the orchard has been verified, harvests are on schedule and we anticipate no unexpected surprises.

Location: Stanislaus County

Property Type: Agriculture

Year Began: 2012

Net Planted Acreage: 653

Base Rent: $3,200/acre

Expected Revenue Participation (5th Leaf in 2017): $249,342



Huller/sheller machines are used to isolate the kernel by removing the hull and shell.

SHELLING & SIZING

CASHMAN ALMOND RANCH ONE Investment Profile Cashman Almond Ranch One

It is critically important that the investor fully comprehends the potential investment. While Portola owns the farmland and leases the holdings to the farmer, it is the farming-operator, not Portola, that owns the orchard improvements and assumes the risk of operating the farm in a profitable manner. Accordingly, Portola receives its income from lease payments and an annual gross almond revenue bonus paid by the farming-operator.

The second Portola lease relates to the farming entity known as GLE-Cashman Almond Ranch One, or CARO. CARO encompasses approximately 1,354 total acres in Stanislaus County, California. Before it was devel-oped into an almond ranch, CARO was used for decades as non-irrigated dairy cattle grazing land. The Ranch is situated in a FEMA rated Zone C flood plain, which indicates an area of minimal flood risk. Com-prised of rolling hills, rocky terrain and some flat land, wells likewise have been drilled on the property to access ground water, with flowage also in excess of what is required for the orchard.

Located on the south side of Highway 120/108 about five miles east of Oakdale, California, ingress is provid-ed by an unrecorded prescriptive easement through the adjoining parcel of land. An estimated 182,000 almond trees were planted on 1,230 acres of CARO land between December 2014 and January 2015. With market values of $29,500 per planted acre,, we believe the land is now worth more than $36 million.

To date, the farming-operator has obtained a $15.6 million loan for land improvements while Portola has a secondary liability in case of default. Any lease non-payment would be a default of the terms under which Portola would be able to assume ownership of the farming enterprise and lease it to another operator.

KEY STRENGTHS The Ranch is managed by an experienced and technologically advanced operating team.

Almond prices have increased sharply in recent years.

New technology is increasing the annual output of almond orchards.

Farmers have been operating almond orchards in Stanislaus County for decades and almond pro-cessing facilities are located nearby.

The development of the orchard has been verified, harvests are on schedule and we anticipate no unexpected surprises.

Location: Stanislaus County

Property Type: Agriculture

Year Began: 2014

Net Planted Acreage: 1,230

Base Rent: $3,200/acre

Expected Revenue Participation (5th Leaf in 2019): $469,663


Plc marketing dock-30115 (1)

Food

vision of portola

almonds almonds

stueve family

investment decision

minimum investment

worlds almonds

elmer stueve

offering structure