Letter to Shareholders

• Louis Dreyfus Company has acquired over 90% of Namoi Cotton shares
• Remaining Namoi shareholders will be compulsorily acquired at $0.77 per share
• Namoi shares likely to be suspended from trading on 22 October 2024

Louis Dreyfus Company Melbourne Holdings Pty Ltd (LDC), a wholly owned subsidiary of Louis Dreyfus Company B.V., has announced it will exercise its right to compulsorily acquire the remaining shares in Namoi Cotton Limited (Namoi) that it does not already own or control. This comes after LDC's off-market takeover offer for all Namoi shares, which closed on 30 October 2024. Based on acceptances received, LDC and its associates have acquired a relevant interest in more than 90% of Namoi's fully paid ordinary shares and more than 75% of the shares it offered to acquire under the takeover bid. The compulsory acquisition will be on the same terms as the takeover offer, with Namoi shareholders receiving $0.77 cash per share. Namoi shareholders who have not accepted the offer prior to the closing date will have to wait for the compulsory acquisition process to complete, which is expected to take at least 5-6 weeks. Trading in Namoi shares on the ASX is also likely to be suspended on 22 October 2024, at which point shareholders will no longer be able to sell their shares on-market.