ELDERS LIMITED — Capital/Financing Update 2017

Sep 21, 2017

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22 September 2017

Change to Exercise Price of Options

Elders Limited (ASX:ELD) ( Elders ) gives notice under ASX Listing Rule 3.11.2 that the Elders Board has resolved that the exercise price of unlisted options over ordinary shares issued under the Elders Limited Executive Incentive Plan ( Plan ) in 2015 will be adjusted with effect from 30 September 2017.

The Plan rules provide that, in the event of a pro rata issue of shares, the exercise price of options on issue may be adjusted in accordance with the ASX Listing Rule 6.22.2. There has been one pro rata issue since the issue of the options.

The options affected are those granted under the Plan on 18 December 2014:

Number of Options	Original Exercise Price	New Exercise Price
1,694,790	$1.70	$1.57

Peter Hastings

Company Secretary

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