Fletcher Building exits Sims Pacific Metals joint venture

Fletcher Building exits Sims Pacific Metals joint venture

Auckland, 29 June 2018: Fletcher Building today announced it had reached agreement to sell
its 50 per cent stake in the Sims Pacific Metals joint venture to Sims Metals Management for
NZ$42 million. The purchase price is subject to a working capital adjustment which will be
finalised post acquisition. Based on current estimates, total proceeds of the divestment are
expected to be between NZ$55m and NZ$60m.

Sims Pacific Metals was established in 1992 as a 50/50 joint venture between Fletcher Steel and
Sims Metals Management.

Sims Pacific Metals is New Zealand’s largest metal recycling company, operating a number of
sites across the country converting scrap metal products into recyclable materials.

In line with Fletcher Building’s strategy to divest non-core businesses, the decision was made to
exit the joint venture and focus the Company’s Steel Division operations on its manufacturing
and distribution activities.

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For further information please contact:
MEDIA
Leela Gantman
Head of Communications
+64 27 541 6338
Leela.gantman@fbu.com
INVESTORS AND ANALYSTS
Rodney Deacon
Head of Investor Relations
+64 21 631 074
Rodney.deacon@fbu.com