ELDERS LIMITED — Capital/Financing Update 2019

Jul 23, 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

24 July 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 ).

ELD has today issued 7,234,079 fully paid ordinary shares in ELD ( Placement Shares ) to certain professional and institutional investors in accordance with the announcement by ELD on 15 July 2019.

ELD states that:

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

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

• (c) 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

• (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 Corporations Act.

Yours sincerely,

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Peter Hastings Company Secretary Elders Limited

ME_162058974_2

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