Investor Presentaiton

ELDERS LIMITED Capital Allocation Return on capital exceeds target benchmark of 15% despite significant decline from livestock earnings 1. 2. 22.5% Return on Capital (%)¹ -6.5 26.2% 16.0% FY21 FY22 FY23 3 Year Avg 21.6% ■ FINANCIAL RESULTS Working Capital at Balance Date ($m) Trade and Other Receivables ($m) Average -81 Balance Date 820 735 738 734 607 625 633 488 445 FY21 FY22 FY23 FY23 average working capital elevated by quickening supply chains ahead of winter crop inputs build FY22 FY22 FY23 Inventory² ($m) -17 558 541 378 FY21 FY22 FY23 Average working capital expected to decline in FY24 due to lower livestock and crop protection prices Trade and Other Payables ($m) -107 753 668 646 FY24 will see tailwinds from stabilised supply chains and focus on procurement efficiency FY22 FY22 FY23 Return on capital three-year average is calculated on the 12 months to 30 September 2021, 30 September 2022 and 30 September 2023 Including Livestock 23

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