ELDERS LIMITED — M&A Activity 2023

Feb 28, 2023

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1 March 2023

Elders acquires Emms Mooney

Elders Limited ( ASX:ELD ) (Elders) is pleased to announce the acquisition of Emms Mooney, a livestock and real estate agency business, on 1 March 2023.

Operating as Elders Emms Mooney, the acquisition will add to the Elders’ real estate and livestock network with an additional six locations added to the business throughout central west New South Wales – Orange, Bathurst, Oberon, Blayney, Molong and Cowra.

On average in the last 3 years, Emms Mooney transacted about 50,000 head of cattle, 190,000 head of sheep and over $250 million in real estate turnover. The business is expected to add approximately $4.3 million EBIT on an annualised basis. Purchase consideration is subject to earn out performance over the next two years and will be funded via existing debt facilities.

With closely aligned culture and values, all key management of Emms Mooney will continue with Elders to provide the highest level of service to their existing client base and further grow the business in the Central Tablelands.

Further Information:

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

Authorised by:

Mark Allison, Managing Director & Chief Executive Officer

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