ELDERS LIMITED — Major Shareholding Notification 2014

Mar 13, 2014

QBE Insurance Group Limited ABN 28 008 485 014 Level 27, 8 Chifley Square, SYDNEY NSW 2000 Australia GPO Box 82, Sydney NSW 2001 telephone + 612 9375 4444 • facsimile + 612 9231 6104 www.qbe.com

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14 March 2014

The Manager Market Announcements Office ASX Limited Level 4 Exchange Centre 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam,

Elders Limited – Notice of change of interests of substantial holder

For the market’s information, please find enclosed our signed Form 604 following our onmarket sale of shares.

Yours faithfully,

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Duncan Ramsay

Company Secretary

Attachment