ELDERS LIMITED — Capital/Financing Update 2019

Aug 11, 2019

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Elders Limited 80 Grenfell Street Adelaide, SA, Australia 5000 GPO Box 551, Adelaide SA 5001 p | 08 8425 4000 f | 08 8425 4627 elders.com.au

12 August 2019

The Manager Company Notices Section ASX Limited Rialto Towers Level 45, 525 Collins Street MELBOURNE VIC 3000

Dear Sir/Madam

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

This notice is given by Elders Limited ACN 004 336 636 (ASX: ELD) ( ELD ) under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ).

On 8 August 2019, ELD announced the successful completion of the retail component of its previously announced accelerated pro rata non-renounceable entitlement offer ( Retail Entitlement Offer ).

ELD states that:

• (a) there were 830,854 fully paid ordinary shares under the Retail Entitlement Offer related to ineligible foreign shareholders who were unable to participate in the Retail Entitlement Offer ( Excluded Shares ) which have been issued to professional and institutional investors;

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

• (c) this notice is being given under section 708A(5)(e) of the Corporations Act;

• (d) as at the date of this notice, ELD has complied with:

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

  • (ii) section 674 of the Corporations Act; and

• (e) 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 Corporations Act.

Elders Limited ABN 34 004 336 636. Registered Office: Level 10, 80 Grenfell Street, Adelaide SA Australia 5000

Yours sincerely,

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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 SA Australia 5000