ELDERS LIMITED — Capital/Financing Update 2024

Nov 24, 2024

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25 November 2024

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

Dispatch of Retail Entitlement Offer materials

RETAIL ENTITLEMENT OFFER

Elders Limited (ASX:ELD) ( Elders ) refers to its approximately $246 million fully underwritten 1 for 5.05 pro rata accelerated non-renounceable entitlement offer ( Entitlement Offer ) previously announced on 18 November 2024 and 19 November 2024 and announces that the:

1. Retail Offer Booklet; and

2. letter to Eligible Retail Shareholders (as defined in the Retail Offer Booklet) and accompanying Entitlement and Acceptance Form,

have been or will be dispatched to Eligible Retail Shareholders of Elders today, in connection with the retail component of its Entitlement Offer ( Retail Entitlement Offer ).

The letter to Ineligible Retail Shareholders (as defined in the Retail Offer Booklet), being those retail shareholders of Elders with a registered address that is outside Australia or New Zealand, has been or will be dispatched by Elders today.

Copies of the Retail Offer Booklet, the letter to Eligible Retail Shareholders and letter to Ineligible Retail Shareholders will be lodged with ASX shortly.

The Retail Entitlement Offer opened at 9.00am (Sydney time) today Monday, 25 November 2024 and is scheduled to close at 5.00pm (Sydney time) on Monday, 9 December 2024.

The Retail Entitlement Offer is fully underwritten by Macquarie Capital (Australia) Limited and is expected to raise approximately $103 million. The Retail Entitlement Offer is made at the same price and offer ratio as the institutional component of the Entitlement Offer which closed on Monday, 18 November 2024.

Eligible Retail Shareholders can choose to take up all, part or none of their entitlements. The Retail Offer Booklet is an important document for Eligible Retail Shareholders. Eligible Retail Shareholders should read the Retail Offer Booklet in its entirety before deciding whether to participate in the Retail Entitlement Offer.

FURTHER INFORMATION

If you have any questions please contact your professional adviser or the Elders Offer Information Line on 1300 121 053 (within Australia) or +61 2 8023 5457 (from outside Australia) from 8.30am to 5.00pm (Sydney time) Monday to Friday during the offer period.

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

Elders Limited ABN 34 004 336 636 Registered Office: Level 10, 80 Grenfell Street, Adelaide SA Australia 5000 ME_226615434_2

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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 ME_226615434_2