Investor Presentaiton

Business Division Retail products Business description Elders is one of Australia's leading suppliers of rural farm inputs including seeds, fertilisers, agricultural chemicals, animal health products and general rural merchandise. We also provide professional production and cropping advice with over 144 agronomists nationwide Strategic focus 1. Capital light, return on capital driven business model Improve product ranging within key animal health and agricultural chemicals categories Increased focus on specialised high value cropping market, including in selected geographical gaps 2. Product focus 3. People Introduce Elders home branded products Build on customer loyalty through increased provision of agronomy services Identify, select and recruit proven localised management to establish Elders' presence in selected geographical gap areas Launch Centre of Excellence Retail margin ($m) 126.2 134.0 105.9 111.2 FY14 FY15 FY16 FY17 Margin by product Retail products 39% Margin split by geography 81% 19% Farm Supplies Feriliser 18% Wast 42% South 40% North Elders 28

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