Covid-19 update cancels interim dividend suspends buyback

Fletcher Building Limited, Private Bag 92114, Auckland 1142, 810 Great South Road, Penrose, Auckland 1061, New Zealand


Fletcher Building update on COVID-19 - cancels interim dividend and
suspends share buyback

Auckland, 25 March 2020: Fletcher Building today provided an update on measures it is taking
to respond to the COVID-19 virus.

Fletcher Building Chief Executive Ross Taylor said: “Health and safety is our first priority and over
the past two months we have put in place measures to protect the well-being of our people. We
have also taken a wide range of actions to ensure the continuity of our operations so that we
can provide the best possible service to our customers. To this point, we have had a strong
response from both our local and international suppliers, and there has been no material
disruption to our manufacturing, distribution, residential and construction operations. Since the
FY20 Half Year Results announcement in mid-February, our businesses have continued to trade
largely in line with expectations.

“However, it is now clear that COVID-19 and the significant escalation of government protection
measures in New Zealand and Australia will have a material impact on our operations and our
FY20 financial results. For this reason, the Board has decided to withdraw Fletcher Building’s
FY20 EBIT guidance.”

The Board is focused on preserving liquidity through what is likely to be a challenging trading
period for an unknown duration. In addition to a range of other cash protection measures to be
taken across all the Group’s businesses, the Board has decided to cancel the FY20 interim
dividend which was due to have been paid on 9 April 2020, and to suspend the on-market share
buyback programme. The Company will also pause the divestment process for the Rocla
business that was announced at the Group’s Half Year Results in February.

#Ends

Authorised by:
Andrew Clarke
Company Secretary
For further information please contact:
MEDIA
Christian May
General Manager – Corporate Affairs
+64 21 305 398
Christian.May@fbu.com
INVESTORS AND ANALYSTS
Aleida White
Head of Investor Relations
+64 21 155 8837
Aleida.White@fbu.com