ELDERS LIMITED — Capital/Financing Update 2016

Jun 21, 2016

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22 June 2016

The Manager Company Notices Section ASX Compliance Pty Ltd 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

Notice under section 708A(5)(e) of the Corporations Act 2001 (Cth)

Elders Limited ACN 004 336 636 ( Company ) gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Act ).

The Company states as follows:

• (a) on 21 June 2016, the Company issued 7,350,000 fully paid ordinary shares in the capital of the Company ( Placement Shares ) to institutional and sophisticated investors who participated in the placement announced on 17 June 2016;

• (b) the Placement Shares were issued without disclosure to investors under Part 6D.2 of the Act;

• (c) as at the date of this notice, the Company has complied with:

  • (i) the provisions of Chapter 2M of the Act as they apply to the Company; and

  • (ii) section 674 of the Act as it applies to the Company; and

• (d) as at the date of this notice, there is no 'excluded information' of the type referred to in sections 708A(7) and 708A(8) of the Act.

Yours faithfully

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Peter Hastings Company Secretary, Elders Limited

Elders Limited ABN 34 004 336 636 Registered office: Level 10, 80 Grenfell Street, Adelaide, South Australia 5000. Postal Address: GPO Box 551, Adelaide, South Australia 5001. Telephone: (08) 8425 4000 Facsimile: (08) 8410 1597