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Investor Presentaiton

Business Division Feed and processing services Business description • In Australia, Elders operates Killara Feedlot, a beef cattle feedlot near Tamworth in New South Wales • Elders imports, processes and distributes premium Australian meat in China Elders divested its Indonesian business in April 2018 - Elders' Indonesian business comprises an integrated feedlot, abattoir and meat distribution business Strategic focus 1. Robust systems 2. Improve reporting and transparency allowing effective decision-making Return on capital focus Improve procurement strategies through backgrounding and use of external facilities for Killara Allocation of capital based on approved business case discipline 3. Integrated red meat supply chain Increase focus on higher margin markets Expansion of Killara branded product in Bali market 1 Margin by product and geography includes non underlying operations Feed and processing services margin ($m) 13.8 13.5 11.5 9.9 FY14 FY15 FY16 FY17 Margin by product 1 77% Killara (Aus) 17% Indonesia 6% China Feed and processing 4% Margin split by geography 1 6% China 17% Indonesia 77% Australia Elders 32
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