ELDERS LIMITED — Capital/Financing Update 2024

Dec 11, 2024

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12 December 2024

NOT FOR RELEASE TO US WIRE SERVICES OR DISTRIBUTION IN THE UNITED STATES

Elders successfully completes Retail Entitlement Offer

Elders limited (ASX: ELD) ( Elders ) is pleased to announce the successful completion of the retail component ( Retail Entitlement Offer ) of its fully underwritten 1 for 5.05 pro-rata accelerated non-renounceable entitlement offer ( Entitlement Offer ) of new fully paid ordinary shares in Elders ( New Shares ). Together with the institutional component of the Entitlement Offer announced to ASX on Monday, 18 November 2024, Elders has raised a total of approximately $246m.

The Retail Entitlement Offer closed at 5.00pm (Sydney time) on Monday, 9 December and raised approximately $103m, with valid applications received of approximately $9m, representing 1.1m New Shares with a take up of approximately 9% of New Shares available under the Retail Entitlement Offer. The balance of New Shares not taken up under the Retail Entitlement Offer, representing 12.0m New Shares, will be acquired pursuant to underwriting and sub-underwriting agreements relating to the Retail Entitlement Offer by the underwriter and sub-underwriters.

Completion of the Retail Entitlement Offer represents the final stage of Elders’ approximately $246m equity raising. The institutional component of the Entitlement Offer closed on Monday, 18 November 2024, raising gross proceeds of approximately $143m.

The New Shares to be issued under the Retail Entitlement Offer will rank equally with existing Elders' fully paid ordinary shares in all respects from the date of their issue. The settlement date for New Shares to be issued under the Retail Entitlement Offer is expected to be Friday, 13 December 2024. The New Shares are expected to be issued and commence trading on Monday, 16 December 2024 and commence normal settlement trading on the ASX on Tuesday, 17 December 2024.

FURTHER INFORMATION

For other enquiries, please contact Mark Allison, Managing Director & Chief Executive Officer, 0439 030 905

Authorised by:

Ian Wilton, Chair Elders Limited Board of Directors

Important Notices

Not an offer in the United States

This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.

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