DISCLAIMER

THIS IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN.

THE OFFERING IS MADE ONLY BY THE PRIVATE PLACEMENT MEMORANDUM. THIS MATERIAL MUST BE READ IN CONJUNCTION WITH THE PRIVATE PLACEMENT MEMORANDUM IN ORDER TO UNDERSTAND FULLY ALL OF THE INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES ASSOCIATED WITH AN INVESTMENT IN THE SECURITIES TO WHICH IT RELATES AND MUST NOT BE RELIED UPON TO MAKE AN INVESTMENT DECISION.

THE OFFERING OF SECURITIES DESCRIBED HEREIN WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE AND THE SECURITIES ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH LAWS. NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY OTHER FEDERAL OR STATE AGENCY HAS PASSED UPON THE MERITS OF OR GIVEN THEIR APPROVAL TO THE OFFERING OF THE SECURITIES, THE TERMS OF THE OFFERING OR THE ACCURACY OR COMPLETENESS OF THE OFFERING MATERIALS. THE OFFERING OF SECURITIES IS BEING MADE ONLY TO ACCREDITED INVESTORS, AS DEFINED IN RULE 501(A) OF REGULATION D OF THE SECURITIES ACT. AN INVESTMENT IN THE SECURITIES IS HIGHLY SPECULATIVE AND INVOLVES SUBSTANTIAL INVESTMENT AND TAX RISKS. ALL PROSPECTIVE INVESTORS MUST REVIEW THE PRIVATE PLACEMENT MEMORANDUM IN ITS ENTIRETY, INCLUDING THE SECTION ENTITLED “RISK FACTORS” BEFORE INVESTING.

AN INVESTMENT IN HEARTLAND AMERICA, LLC IS HIGHLY SPECULATIVE AND INVOLVES SUBSTANTIAL RISKS, INCLUDING, BUT NOT LIMITED TO: (1) HEARTLAND AMERICA, LLC SUCCESS DEPENDS UPON THE PERFORMANCE OF THE MANAGER IN MANAGING HEARTLAND AMERICA, LLC AND ITS INVESTMENTS, INCLUDING DECISIONS INVOLVING INVESTMENT OF HEARTLAND AMERICA, LLC’S CAPITAL AND THE ACQUISITION AND DISPOSITION OF PROPERTIES AND THERE IS NO GUARANTEE HEARTLAND AMERICA, LLC WILL RAISE ENOUGH CAPITAL TO PERFORM ITS INVESTMENT OBJECTIVES; (2) THERE CAN BE NO ASSURANCE THAT A PROSPECTIVE INVESTOR WILL RECEIVE ANY RETURN ON INVESTMENT IN HEARTLAND AMERICA, LLC AND/OR REALIZE ANY PROFIT ON A PROSPECTIVE INVESTOR’S INVESTMENT IN HEARTLAND AMERICA, LLC AND A PROSPECTIVE INVESTOR COULD LOSE ALL OR A SUBSTANTIAL PORTION OF ITS INVESTMENT; (3) THE MANAGER HAS LIMITED OR NO NET WORTH AND THERE CAN BE NO ASSURANCE THAT THE MANAGER WILL HAVE SUFFICIENT FUNDS TO MEET ITS OBLIGATIONS TO HEARTLAND AMERICA, LLC OR TO OTHERWISE FINANCIALLY SUPPORT HEARTLAND AMERICA, LLC; (4) THE CLASS A MEMBERS AND CLASS B MEMBERS HAVE NO POWER TO TAKE PART IN THE MANAGEMENT OF HEARTLAND AMERICA, LLC AND HAVE LIMITED VOTING RIGHTS AND WILL NOT HAVE THE OPPORTUNITY TO EVALUATE OR APPROVE ANY OF HEARTLAND AMERICA, LLC’S INVESTMENTS; (5) THE CLASS A INTERESTS AND CLASS B INTERESTS WILL BE ILLIQUID, AND THE TRANSFERABILITY OF THE CLASS A INTERESTS AND THE CLASS B INTERESTS WILL BE SUBSTANTIALLY RESTRICTED; (6) HEARTLAND AMERICA, LLC MAY NOT HAVE THE CASH FLOW NECESSARY TO MAKE DISTRIBUTIONS TO ITS MEMBERS; (7) HEARTLAND AMERICA, LLC WILL NOT DIVERSIFY ITS INVESTMENTS AND, THEREFORE, THE SUCCESS OF HEARTLAND AMERICA, LLC WILL BE DEPENDENT UPON THE SUCCESS OF THE PROPERTIES; (8) THERE ARE SUBSTANTIAL RISKS ASSOCIATED WITH REAL-ESTATE INVESTMENTS AND OWNERSHIP OF STORAGE FACILITIES AND MOBILE HOME PARKS; (9) THERE ARE VARIOUS POTENTIAL CONFLICTS OF INTEREST AMONG THE MANAGER AND ITS AFFILIATES AND THEIR PRINCIPALS.

INVESTORS MUST READ AND CAREFULLY CONSIDER THE DISCUSSION SET FORTH UNDER THE SECTION ENTITLED “RISK FACTORS” IN THE PRIVATE PLACEMENT MEMORANDUM FOR A COMPLETE DISCUSSION OF THESE AND OTHER RISKS PERTAINING TO THIS INVESTMENT.

THESE PROJECTIONS ARE SPECULATIVE AND BASED ON SPECIFIC ASSUMPTIONS, WHICH, IF INCORRECT, WOULD CAUSE THE ACTUAL RETURNS TO DIFFER MATERIALLY FROM THE PROJECTED RETURNS. YOU SHOULD REVIEW THE ENTIRETY OF THE ASSUMPTIONS AND RISKS SET FORTH IN THE PRIVATE PLACEMENT MEMORANDUM.

ANY UNDERLYING ASSUMPTIONS AND ANY FORWARD-LOOKING STATEMENTS HEREIN MAY NOT BE ACCURATE, THE PROJECTIONS HEREIN SHOWN MAY NOT OCCUR, AND ACTUAL RESULTS COULD DIFFER MATERIALLY DUE TO RISKS AND UNCERTAINTIES THAT ARE BEYOND THE COMPANY’S ABILITY TO CONTROL OR ACCURATELY PREDICT. TO THE EXTENT, THE INFORMATION IN THIS COMMUNICATION CONFLICTS WITH THE INFORMATION IN THE PRIVATE PLACEMENT MEMORANDUM, THE INFORMATION IN THE PRIVATE PLACEMENT MEMORANDUM SHALL GOVERN.

THE SECURITIES OFFERED ARE AN ILLIQUID INVESTMENT AND INVOLVE A HIGH DEGREE OF RISK; INVESTORS SHOULD BE ABLE TO BEAR THE LOSS OF SOME OR ALL OF THEIR INVESTMENT. INVESTORS SHOULD READ AND UNDERSTAND ALL OF THE RISKS AND THE ENTIRE PRIVATE PLACEMENT MEMORANDUM BEFORE MAKING A DECISION TO INVEST. PAST PERFORMANCE IS NO INDICATION OF FUTURE RESULTS AND THERE CAN BE NO ASSURANCE THAT HEARTLAND AMERICA, LLC WILL BE ABLE TO EXECUTE THE INVESTMENT OBJECTIVES FOR THE PROPERTIES OR THE OFFERING.

THIS MATERIAL IS FOR GENERAL INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE LEGAL, TAX, INVESTMENT OR OTHER PROFESSIONAL ADVICE ON ANY SUBJECT MATTER. INFORMATION PROVIDED IS NOT ALL-INCLUSIVE AND SHOULD NOT BE RELIED UPON AS BEING ALL-INCLUSIVE.

ANY CAPITALIZED TERMS USED BUT NOT OTHERWISE DEFINED IN THIS PRESENTATION SHALL HAVE THE MEANINGS SET FORTH IN THE PRIVATE PLACEMENT MEMORANDUM.

ANY REFERENCE TO “HEARTLAND AMERICA” “WE” “OUR” OR “FUND,” REGARDLESS OF CAPITALIZATION, SHALL REFER TO HEARTLAND AMERICA, LLC, AND ITS AFFILIATES.