ELDERS LIMITED — Capital/Financing Update 2013

Mar 27, 2013

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28 March 2013

Completion of Sale of Sandalwood Assets

Further to its ASX announcement dated 15 March 2013, Elders Limited (ASX: ELD) announces completion of the sale to Santanol Pty Ltd and its related entities of its assets associated with the Indian Sandalwood projects established on behalf of managed investment schemes for which Elders Forestry Management Limited (a wholly owned subsidiary of Elders Ltd)is the responsible entity.

Net cash proceeds from the transaction are approximately $29m. These proceeds will be applied in their entirety to debt reduction.

Forestry operations are classified as a discontinued operation by the Company and, therefore, results from Forestry operations are included in Elders’ statutory profit but excluded from underlying profit. Accordingly, Elders will record the net profit over book value on the sale of its Indian Sandalwood interests of $14m as a non recurring item in its results for the 6 months to 31 March 2013. Elders anticipates at this stage that the net profit realised from this transaction is likely to be offset by fair value adjustments relating to other remaining forestry assets.

Further Comment:

Malcolm Jackman Chief Executive Officer 0439 642 876

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