ELDERS LIMITED — Capital/Financing Update 2024

Nov 17, 2024

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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

18 November 2024

The Manager Market Announcements Office ASX Limited 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

Notice under section 708AA(2)(f) of the Corporations Act 2001 (Cth)

This notice is given by Elders Limited ACN 004 336 636 (ASX: ELD) ( ELD ) under section 708AA(2)(f) of the Corporations Act 2001 (Cth) ( Corporations Act ) as notionally modified by ASIC Corporations (NonTraditional Rights Issue) Instrument 2016/84 and ASIC Corporations (Disregarding Technical Relief) Instrument 2016/73 ( ASIC Instruments ).

Where applicable, references in this notice to sections of the Corporations Act are to those sections as modified by ASIC Instruments.

ELD announced today Monday, 18 November 2024 a fully underwritten pro rata accelerated nonrenounceable entitlement offer ( Entitlement Offer ) of 1 fully paid ordinary share in ELD ( New Shares ) for every 5.05 fully paid ordinary shares held in ELD as at 7.00pm (Sydney time) on 20 November 2024 to eligible shareholders with a registered address in Australia or New Zealand and certain eligible institutional investors in certain other jurisdictions in which ELD has decided to make the Entitlement Offer.

ELD states that:

• (a) ELD will offer the New Shares for issue without disclosure to investors under Part 6D.2 of the Corporations Act;

• (b) this notice is being given under section 708AA(2)(f) 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) sections 674 and 674A of the Corporations Act;

• (d) as at the date of this notice, there is no excluded information of the type referred to in sections 708AA(8) and 708AA(9) of the Corporations Act; and

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

• (e) the potential effect that the Entitlement Offer will have on the control of ELD, and the consequences of that effect, will depend on a number of factors, including investor demand and existing shareholdings. However, because of the structure of the Entitlement Offer as a pro rata issue and the fact that no ELD shareholder currently has or is expected to have after the Entitlement Offer voting power exceeding 20% in ELD, the Entitlement Offer is not expected to have any material effect or consequence on the control of ELD.

Yours sincerely

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Peter Hastings Company Secretary Elders Limited

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