Investor Presentation – January 2026

Presentation Highlights:

• Elders Limited (ASX:ELD) is a diversified Australian agribusiness operating a fully integrated national platform across Rural Products, Agency Services, Wholesale Distribution, Real Estate, Financial Services, and Feed and Processing, delivering FY25 sales revenue of USD 2.11B (AUD 3.20B) and EBIT of USD 94.7M (AUD 143.5M), reflecting the first full year of its divisional operating structure and a clear focus on consistent earnings delivery across the agricultural cycle.
• In FY25, Elders expanded group gross margin to USD 452.7M (AUD 684.6M) representing a 21.4% margin, completed eight bolt-on acquisitions alongside the strategic acquisition of Delta Agribusiness effective November 2025 which contributed approximately USD 538.6M (AUD 816M) of annual revenue, generated operating cash flow of USD 77.8M (AUD 117.9M) with cash conversion of 137%, and strengthened its balance sheet with core leverage at 1.8x following the Delta equity raise.
• Entering FY26, Elders is advancing the integration of Delta Agribusiness across eastern and southern Australia, translating systems modernization across retail and livestock into margin and return expansion, scaling vertically integrated Crop Protection and wholesale operations, maintaining disciplined working capital management to support leverage moving below 2.0x, and pursuing 5–10% EBIT and EPS growth through the cycle with a return on capital trajectory aligned toward 15%.