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ELDERS LIMITED Capital/Financing Update 2022

Dec 13, 2022

64835_rns_2022-12-13_464d1a81-487e-42d8-b622-8d2308ced6c0.pdf

Capital/Financing Update

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14 December 2022

Elders acquires strategic investment in PGG Wrightson

Elders Limited ( ASX:ELD ) (Elders) has acquired a 11.295% interest in PGG Wrightson Limited ( NZX:PGW (PGW) in line with its geographic diversification strategy.

The 11.295% interest was acquired by private sale at NZ$4.35 (A$4.12[1] ) per PGW share for a total investment of approximately NZ$37.1 million (A$35.2 million[1] ), funded through existing debt facilities.

Elders does not currently intend to initiate a proposal to acquire control of PGW.

About PGW

PGW is a full-service agricultural supplies and services business listed on the New Zealand Stock Exchange with a market capitalisation of approximately NZ$312 million[2] . It has a rich heritage of more than 170 years working alongside New Zealand farmers to service their on-farm needs. It employs over 1,800 people located in approximately 170 locations across New Zealand.

Further Information:

Mark Allison, Managing Director & Chief Executive Officer, 0439 030 905