- Ranch - Bat tle mountain, NEVADA

Bat tle mountain, NEVADA Operations Ranch does not own cattle, but rents pasture to several entities on a year to year basis. Maintaining the maximum carrying capacity of 6 AUMs, Ranch currently grazes 6000± yearlings for 4 months and 3900± cow/ calves on a year-round basis. Each AU rents for $15 to $20 per month, affording a potential gross income of approximately $1.3 million. Most of the cattle are wintered on the River Ranch and Izzenhood Ranch areas, consisting of both fee lands and BLM grazing allotment. They are then moved north into higher elevations for fresher feed during the spring and summer grazing seasons. Offered at $35,000,000 At the present time, most of the irrigated land is grazed rather than harvested as a consequence of the impacts of recent drought conditions. In normal years, meadowlands can be used for both harvest land and grazing. Approximately 4000± cows can be wintered on the southern portion of the BLM grazing allotment without feeding hay. The only hay requirements are for saddle horses and special cattle needs. Price Offered at $35,000,000 The enclosed information has been obtained from sources that we deem reliable; however, it is not guaranteed by Clark Company and is presented subject to corrections, errors, prior sale, changes or withdrawal from the market without notice. Phone: (805) 238-7110 Fax: (805) 238-1324 NV RED# B.41551

Blossom Ranch BLOSSOM RANCH: Formerly utilized as farm ground, the Blossom Ranch property is improved with two dwellings and various support buildings. Situated in the southerly region of the Ranch, this property is positioned on APN 010-290-001 in Lander County. ROCK CREEK RANCH: Rock Creek Ranch is positioned near the middle of the Ranch s northern border on APN 004240-001 in Elko County. Situated near Rock Creek, this property is comprised of a small, irrigated, alfalfa field. ST. JOHN S RANCH: Improved with old bunkhouse, domestic/artesian well, and corrals, St. John s Ranch property is positioned on APN 004-740-001 in Elko County in the northeasterly region of the Ranch and comprises over 20,000 acres of blocked-up private lands. STAMPEDE RANCH: Situated in the eastern region of the 25 Ranch on APN 005-110-001 in Elko County, the Stampede Ranch property is improved with bunkhouse, barn, outbuildings and corrals, and includes several irrigable meadows in normal water years and extensive private grazing lands. Description A historic cattle ranch, the expansive Ranch (formerly 25 Ranch) is situated in northern Nevada and encompasses 1,018± deeded acres spanning across four counties. One of the oldest ranches in the state, Ranch holds vested and decreed water rights dating back to late in the 19th century. Improved with main residence, numerous dwellings, corrals, barns, shops, and support buildings, Ranch features abundant water, vast, long-standing BLM grazing permits and a carrying capacity of 6,± cows on a year-round basis. www.clarkcompany.com/properties/-ranch FEED LOT: Presently operated as a private feed lot utilized to feed and ship cattle, this ranch property is improved with living quarters and livestock handling facilities, several different pens, and feed bunks. Complemented by a horse barn, calving barn, loading chute and scales, the feed lot is also located in the southernmost portion of the Ranch, not far from the River Ranch property. Feed Lot The enclosed information has been obtained from sources that we deem reliable; however, it is not guaranteed by Clark Company and is presented subject to corrections, errors, prior sale, changes or withdrawal from the market without notice.

Improvements Due to the sprawling nature of the Ranch, it is divided into the following various ranch properties to aid in identifying various locations and improvements: IZZENHOOD RANCH: The Izzenhood Ranch property, situated in the southwesterly portion of the Ranch, is presently utilized as the Ranch Headquarters and has been developed for irrigation and cultivation. Improved with a main dwelling (utilized as the manager s residence), six mobile homes for employee housing, shop, support Izzenhood Ranch buildings, corrals and horse barn, the Izzenhood Ranch is positioned on APN 010-040-018 in Lander County. DL RANCH UNIT: Positioned along the Humboldt River at the Ranch s southern border, the DL Ranch Unit has historically been used for pasturing on the River. River Ranch RIVER RANCH: The River Ranch property, previously utilized as the 25 Ranch Headquarters, is positioned in the southernmost portion of the Ranch. Located in both Lander and Humboldt Counties, including APN 101-150-204 in Lander County, these lands have been developed for irrigation, harvesting and grazing purposes. WIRE CORRAL RANCH: Positioned near the Ranch Center, the Wire Corral property is situated on the banks of Antelope Creek and is used as a branding, weaning and shipping facility. One of the foremost historic cattle ranches in northern Nevada, many of the ranching properties consisting of what now comprises the Ranch were established and settled in the 1870 s. Originally assembled separately through acquisition of individual ranch properties (such as the Blossom Ranch and St. John s Ranch), the lands were owned and operated by Russell Land & Cattle Co. and by W.T. Jenkins Co. In the 1940s, W.T. Jenkins Co. merged all of their holdings to form the current Ranch operation. W.T. Jenkins, the founder of W.T. Jenkins Co., migrated to Nevada from Wales in the early 1870s seeking fortune mining for gold and silver. This dream soon dissipated and he commenced operations in the sheep business. After standing victorious in a fatal gunfight in the mountains of the open Nevada range with a ruthless cattleman named Joe Dean, who unsuccessfully attempted to run W.T. out of the country, W.T. Jenkins began raising both sheep and cattle. At the tender young age of 18, W.T. s daughter, Louise Marvel, assumed the lead role of managing the ranch operations and gradually created one of the largest ranching operations in the State of Nevada. The expansive Ranch lands, which comprised a portion of the W.T. Jenkins Co. holdings, were sold in 1964. In 1989, the current owner of the Ranch acquired the outfit and has continuously operated the ranching enterprise since that time. History

Location The Ranch is located in northern Nevada with land in Humboldt County, Lander County, Elko County, and Eureka County. Positioned north of Battle Mountain and bordered by Interstate 80, the Ranch stretches diagonally northeast to Tuscarora, Nevada. Situated in the Great Basin, the Ranch encompasses and is surrounded by breathtaking country, stunning mountains and beautiful valleys. Approximately 28± miles south of the Izzenhood Ranch headquarters, is Battle Mountain Airport a small, public airport with two landing strips and two helipads. Operated by the Battle Mountain Airport Authority, the airport was built by the United States Army Air Forces in 1942. Also known as Lander County Airport, it was previously utilized as an emergency landing airfield by the Reno Army Air Base for military aircraft and training flights. Domestic flights are available at Elko Regional Airport, approximately 90 miles southeast. Roughly 240 miles southwest is Reno-Tahoe International Airport, offering international, as well as domestic, flights. The Ranch holds a grazing permit with the United States Department of Interior Bureau of Land Management. Known as the 25 Allotment, this permit allows for 34,130 active AUM s, figuring to a carrying capacity of 6, animal units. Furthermore, the BLM allotment allocates 309,390± acres of public land and 214,693± acres of private land. Combined, the total grazing allotment is 524,083± acres. While Ranch owns in fee nearly sixty percent of the private grazing land allotted in the BLM Permit, the Ranch also maintains a lease from New Nevada Lands, LLC on 59,206± acres of former railroad lands. The balance of the 214,693± acres are owned by third parties. Grazing Land & Permits

Soil & Topography Fitting for rangeland and wildlife habitat, the soils located on Ranch are typical of Nevada. Though primarily alkaline, soil types vary from rock to sandy loam. Due to its location in the Great Basin, the Ranch topography is rather varied, consisting of level ground, flood irrigated meadows, mountains, valleys and canyons. Nevada s climate is generally semi-arid, characterized by wet and dry cycles. While the quantity of precipitation is dependent upon the elevation and proximity to mountain ranges, Nevada typically experiences brilliant sunshine, clear, dry air and low annual rainfall. Climate Numerous types of native grasses grow on Ranch including Sandberg s Blue Bunch Wheat Grass, Idaho Fescue, Squirrel Tail, Needle and Thread, Crested Wheat, Great Basin Wild Rye. Also found are various indigenous shrubs, such as Bitterbrush and Buckbrush. Mineral Rights The owner of the Ranch separately owns the non-metalliferous (minerals not containing or yielding metal) mineral estate on a significant portion of the fee owned lands. The Ranch encompasses 1,018.85± deeded acres spanning across four counties: Humboldt County: Lander County: Elko County: Eureka County: 6,216.66± acres zoned M-3 (Open Land District) 43,423.41± acres zoned A-3 (Farm & Ranch District) 75,920.38± acres zoned OS (Open Space) 480.40± acres with no existing zoning ordinances Acreage, Zoning & Taxes PROPERTY TAXES: Humboldt County $ 7,245.50 Lander County $20,361.69 Elko County $ 6,523.14 Eureka County $ 19.05 TOTAL $34,149.38 The enclosed information has been obtained from sources that we deem reliable; however, it is not guaranteed by Clark Company and is presented subject to corrections, errors, prior sale, changes or withdrawal from the market without notice.

- Ranch Water Rights Ranch has an abundance of certificated, adjudicated and vested water rights. There are 15,234.15± acre feet of decreed irrigation/stock water rights on the Humboldt River, 3,559± acre feet of certificated water rights utilized for additional irrigation and stock water, and numerous additional vested water rights (located primarily on the BLM grazing allotment) for stock water. In total quantity, these rights are equivalent to the water necessary to accommodate approximately 15,640± head. Summary of Humboldt River Adjudicated Water Rights Pasture Diversified Harvest Acres Meadow Acre Feet Acres Pasture Acres 3,562.94 2,047.83 1,964.78 15,234.15 Summary of Certificated Water Rights Source Use Rock Creek Rock Creek Underground Underground Underground Coon Creek South Branch of Coon Creek Coon Creek TOTALS Irrigation Irrigation Acreage 150.00 90.00 174.30 223.80 300.00 25.66 30.10 8.21 1,002.07 Duty AcreFeet 600.00 360.00 522.90 671.40 1200.00 62.61 120.40 22.16 3,559.47 Summary of Irrigation Water Rights Ranch Water Righted Acres Blossom Ranch 300 Rock Creek 150 Stampede Ranch 63.97 Izzenhood Ranch 165.56 Summary of Vested Water Rights Source Use Ranch Channel/Springs 6 Mile Creek Adams Creek and Springs Barber Canyon Springs Battle Creek and Tributaries Carlin Creek and Springs Coal Creek and Springs Coyote Canyon Springs Coyote Spring Crooked Creek and Springs Granite Springs Incian Creek and Springs Izzenhood Spring Mud Springs Old Timers Channel Road Canyon and Springs Sagebrush Spring Summit Creek and Springs Taylor Canyon Springs TOTAL Head 5690 1 250 800 200 200 300 1200 100 1000 400 15,640 The enclosed information has been obtained from sources that we deem reliable; however, it is not guaranteed by Clark Company and is presented subject to corrections, errors, prior sale, changes or withdrawal from the market without notice.