ELDERS LIMITED — Capital/Financing Update 2014

May 7, 2014

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8 May 2014

Insurance Sale

Elders (ASX:ELD) has today sold its 10 per cent equity holding in Elders Insurance (Underwriting Agency) Pty Ltd ( EIUA ), the joint venture for insurance distribution, to QBE for an undisclosed sum. As a result, EIUA becomes a wholly owned QBE entity.

The term of the marketing agreement with EIUA for the use of the Elders’ brand will continue to operate until 2033 and Elders will maintain its board position on EIUA. Proceeds from the sale will be used to further reduce term debt.

Elders’ CEO Mark Allison said, “The residual equity holding in EIUA was not core to the agribusiness operations of the Company in light of the ongoing long term excellent relationship with QBE, a preeminent supplier of insurance products to Australians, including Elders’ clients in rural and regional Australia. We look forward to the continuation of that relationship for many years to come.

“The sale of the remaining 10% of EIUA is a further step towards satisfying the Company’s requirement to pay down syndicated debt as discussed by me at the 2013 AGM and advances the Company’s objectives to be a capital light returns driven organisation” he said.

Further Comment:

Mark Allison Chief Executive Officer 0439 030 905

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