SPH – Allan Gray Australia Pty& related bodies corporate

1
Disclosure of beginning to have substantial holding
Section 276, Financial Markets Conduct Act 2013
To New Zealand Stock Exchange, Australian Stock Exchange and

Fletcher Building Limited
Date this disclosure made: 22 May 2020
Date on which substantial holding began: 21 May 2020
Substantial product holder(s) giving disclosure
Full name(s): Allan Gray Australia Pty Ltd (Allan Gray Australia) and its related bodies
corporate as set out in Table 1 of Annexure A (together Allan Gray Group), as investment
manager for the funds or investment mandates listed at Table 2 of Annexure A.
Summary of substantial holding
Class of quoted voting products: Ordinary Shares
Summary for Allan Gray Group
For this disclosure,—
(a) total number held in class: 41,759,869
(b) total in class: 824,256,416
(c) total percentage held in class: 5.07%
Details of relevant interests
Details for Details for Allan Gray Australia Pty Ltd (Allan Gray Australia) and its related
bodies corporate as set out in Table 1 of Annexure A (together Allan Gray Group), as
investment manager for the funds or investment mandates listed at Table 2 of Annexure A
Nature of relevant interest(s): as investment manager for the funds or investment
mandates listed at Table 2 of Annexure A and Annexure B
For that relevant interest,—
(a) number held in class: 41,759,869
(b) percentage held in class: 5.07%
(c) current registered holder(s): As set out in Table 1 of Annexure A
(d) registered holder(s) once transfers are registered: See Annexure B
Details of transactions and events giving rise to substantial holding
Details of the transactions or other events requiring disclosure: See Annexure B – Table 1

2
Additional information
Address(es) of substantial product holder(s): C/- Allan Gray Australia, Level 2 Challis
House, 4 Martin Place Sydney, NSW 2000, Australia
Contact details: Elizabeth Lee, Company Secretary, telephone: +61 2 8224 8632,
email: elizabeth.lee@allangray.com.au
Certification
I, Elizabeth Lee, Company Secretary, Allan Gray Australia certify that, to the best of my
knowledge and belief, the information contained in this disclosure is correct and that I am
duly authorised to make this disclosure by all persons for whom it is made.

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ANNEXURE A OF 2 PAGES REFERRED TO IN THE ABOVE FORM
Fletcher Building Limited

Table 1 – Related bodies corporate
The following entities are associates of Allan Gray Australia Pty Ltd (AGA) and each other by virtue of being related bodies corporate.
Orbis Allan Gray Limited Orbis Mansfield Street Properties Ltd
Orbis Holdings Limited Orbis Investment Management (BVI) Limited (OIMLBVI)
Orbis Investment Management Limited (OIML) Orbis Investment Advisory Pty Limited
Orbis Asset Management Limited (OAML) Allan Gray (Holdings) Pty Ltd
Orbis Administration Limited Orbis Investment Advisory (Hong Kong) Limited
Orbis Investment Research Limited Orbis Client Services (Canada) Limited
Orbis Investment Management (MIS) Limited Orbis Holdings (UK) Limited
Triple Blue Holdings Limited Orbis Investment Management (Europe) LLP
Pictet Overseas Trust Corporation and Pictet Trustee Company SA Orbis Investment Management (Luxembourg) S.A
Allan & Gill Gray Foundation (Guernsey) EmCap Limited (Guernsey) (EMCAP)

Table 2 - Funds
An entity within the Group acts as investment manager for some or all of the assets in the following funds.
No Fund name Manager Code Registered holder Persons entitled to be registered
holder
1. Allan Gray Australia Equity Fund AGA SMEF Citibank N.A., Sydney Branch as
SMEF’s custodian
Equity Trustees Limited as SMEF’s
responsible entity
2. Allan Gray Australia Balanced Fund AGA SMBF Citibank N.A., Hong Kong Branch
as SMBF’s custodian
Equity Trustees Limited as SMBF’s
responsible entity
3. Allan Gray Australia Stable Fund AGA SMSF Citibank N.A., Sydney Branch as
SMSF’s custodian
Equity Trustees Limited as SMSF’s
responsible entity
4. AMP Capital Specialist Australian
Share Fund
AGA SMAP BNP Paribas Fund Services
Australasia Pty Ltd as SMAP’s
custodian
AMP Capital Funds Management
Limited as SMAP’s responsible entity
5. Warakirri Endeavour Fund AGA SMWD RBC Investor Services Trust as
SMWK’s custodian
Warakirri Asset Management Pty Ltd
SMWK’s trustee
6. Morningstar Australian Shares High
Alpha Fund
AGA SMIA JP Morgan Nominees Australia
Ltd as SMIA’s custodian
Morningstar Investment Management
Australia Limited SMIA’s trustee
7. Construction and Building Unions
Superannuation Fund
AGA SMCB JP Morgan Nominees Australia
Ltd as SMCB’s custodian
United Super Pty Ltd as SMCB’s trustee
8. HESTA Superannuation Fund AGA SMHT JP Morgan Nominees Australia
Ltd as SMHT’s custodian
H.E.S.T. Australia Ltd as SMHT’s trustee
9. Hostplus Pooled Superannuation
Trust
AGA SMHP Citibank N.A., Sydney Branch as
SMHP’s custodian
Host Plus Pty ltd as SMHP’s trustee
10. Russell Australian Opportunities Fund AGA SMRI State Street Australia Ltd as
SMRI’s custodian
Russell Investment Management Ltd as
SMRI’s responsible entity
11. MyLifeMyMoney Superannuation
Fund
AGA SMCS NAB Custodial Services as
custodian for SMCS
CSF Pty Ltd as SMCS’s trustee
12. Maritime Super AGA SMMS NAB Custodial Services as
custodian for SMMS
Maritime Super Pty Ltd as SMMS’s
trustee
13. Non-Government Schools
Superannuation Fund
AGA SMNG State Street Australia Ltd as
SMNG’s custodian
Non-Government Schools
Superannuation Fund Pty Ltd as
SMNG’s trustee
14. Non-Government Schools
Superannuation Fund
AGA SMNP State Street Australia Ltd as
SMNP’s custodian
Non-Government Schools
Superannuation Fund Pty Ltd as
SMNP’s trustee
15. REST Superannuation Fund AGA SMRT State Street Australia Ltd as
SMRT’s custodian
Retail Employees Superannuation Pty
Ltd as SMRT’s trustee
16. Government Employees
Superannuation Board
AGA SMGB Northern Trust Corporation as
SMGB’s custodian
Government Employees Superannuation
Board
17. Statewide Superannuation Trust AGA SMSW NAB Custodial Services as
custodian for SMSW
Statewide Superannuation Pty Ltd as
SMSW’s trustee
18. Legal Super AGA SMLS BNP Paribas Fund Services
Australasia Pty Ltd as SMLS’s
custodian
Legal Super Pty Ltd as trustee of
legalsuper
19. Orbis Global Equity Fund (Australia
Registered)
OIML GAPL Citibank N.A., Hong Kong Branch,
as GAPL’s custodian
Equity Trustees Limited as GAPL’s
responsible entity

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No Fund name Manager Code Registered holder Persons entitled to be registered
holder
20. Orbis Emerging Markets Equity Fund
(Australia Registered)
OIML EMAF Citibank N.A., Hong Kong Branch,
as EMAF’s custodian
Equity Trustees Limited as EMAF’s
responsible entity
21. Orbis Global Equity LE Fund
(Australia Registered)
AGA GALE Citibank N.A., Hong Kong Branch,
as GALE’s custodian
Equity Trustees Limited as GALE’s
responsible entity
22. Orbis Global Equity Fund Limited OIML OGEF Citigroup Fund Services Canada,
Inc (Citi Canada) as OGEF’s
custodian
OGEF
23. Orbis Optimal SA Fund Limited OIML OSAP Citi Canada as OSAP’s custodian OSAP
24. Institutional Global Equity Fund OIML IGEF Citi Canada as IGEF’s custodian IGEF
25. Orbis Optimal LP OIML OOLP Citi Canada as OOLP’s custodian OOLP
26. Orbis International Equity LP OIML IELP Citi Canada as IELP’s custodian IELP
27. Orbis Institutional Global Equity LP OIML OGLP Citi Canada as OGLP’s custodian OGLP
28. Orbis Institutional International Equity
LP
OIML ONLP Citi Canada as ONLP’s custodian ONLP
29. Orbis Institutional U.S. Equity LP OIML USLP Citi Canada as USLP’s custodian USLP
30. Orbis Institutional Emerging Markets
Equity LP
OIML EMLP Citi Canada as EMLP’s custodian EMLP
31. Orbis SICAV – Global Equity Fund OIML SGPL Citibank International plc
(Luxembourg Branch) (Citi Lux)
as SGPL’s custodian
SGPL
32. Orbis SICAV – Asia- Ex Japan Fund OIML XJPL Citi Lux as XJPL’s custodian XJPL
33. Orbis SICAV – Global Balanced Fund OIML GBSA Citi Lux as GBSA’s custodian GBSA
34. Orbis SICAV – International Equity OIML SNPL Citi Lux as SNPL’s custodian SNPL
35. Orbis OEIC Global Equity Fund OIML UKGE Citi Lux as UKGE’s custodian UKGE
36. Orbis Institutional Global Equity
(OFO)
OIML OGEO Citi Canada as OGEO’s custodian OGEO
37. OEIC Global Cautious Fund OIML OCS4 Citi Lux as OCS4’s custodian OCS4
38. Orbis SICAV Global Cautious Fund OIML OCSU Citi Lux as OCSU’s custodian OCSU

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ANNEXURE B OF 2 PAGE REFERRED TO IN THE ABOVE FORM
Fletcher Building Limited

Table 1 - Trades giving rise to a change in relevant interest
Trade Date Reference Code Action No of security Consideration
10 Dec 19 to 21 May 20
SMAP Buy and Sell 1,064,829 $ 4,618,117
13 Feb 19 to 21 May 20 SMBF Buy and Sell 219,507 $ 926,824
05 Apr 18 to 21 May 20 SMCB Buy and Sell 5,073,629 $ 22,364,457
05 Apr 18 to 21 May 20 SMCS Buy and Sell 2,670,015 $ 11,164,592
05 Apr 18 to 21 May 20 SMEF Buy and Sell 11,020,796 $ 49,051,351
05 Apr 18 to 21 May 20 SMGB Buy and Sell 2,803,184 $ 12,837,776
05 Apr 18 to 21 May 20 SMHP Buy and Sell 3,491,057 $ 15,937,746
05 Apr 18 to 21 May 20 SMHT Buy and Sell 3,553,118 $ 15,968,737
05 Apr 18 to 21 May 20 SMIA Buy and Sell 424,419 $ 1,819,420
19 Jun 19 to 21 May 20 SMLS Buy and Sell 993,166 $ 4,565,072
05 Apr 18 to 21 May 20 SMMS Buy and Sell 682,868 $ 3,094,274
05 Apr 18 to 21 May 20 SMNG Buy and Sell 1,308,836 $ 5,899,301
08 Nov 19 to 21 May 20 SMNP Buy and Sell 265,784 $ 1,180,931
05 Apr 18 to 21 May 20 SMRI Buy and Sell 1,345,450 $ 5,684,308
05 Apr 18 to 21 May 20 SMRT Buy and Sell 5,341,794 $ 24,399,045
06 Mar 19 to 21 May 20 SMSF Buy and Sell 469,760 $ 1,827,823
23 Aug 18 to 21 May 20 SMSW Buy and Sell 1,031,657 $ 4,363,860
05 Apr 18 to 01 Nov 19 SMWA Buy and Sell 0 $ 32,371
01 Nov 19 to 30 Mar 20 SMWD Buy and Sell 0 $ 84,254

Total 41,759,869 $ 185,820,260
All trades occur on market, under a dividend reinvestment plan, or pursuant to a capital raising (as applicable).

Table 2 - Current holding
Reference Code Total no of securities
SMAP 1,064,829
SMBF 219,507
SMCB 5,073,629
SMCS 2,670,015
SMEF 11,020,796
SMGB 2,803,184
SMHP 3,491,057
SMHT 3,553,118
SMIA 424,419
SMLS 993,166
SMMS 682,868
SMNG 1,308,836
SMNP 265,784
SMRI 1,345,450
SMRT 5,341,794

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SMSF 469,760
SMSW 1,031,657
Total 41,759,869