Annual Shareholders’ Meeting documents and trading update

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


Annual Shareholders’ Meeting documents and trading update

Auckland, 26 October 2022: Fletcher Building is holding its 2022 Annual Shareholders’
Meeting today at 10.30am NZDT. Attached are the:

- Chair’s address
- Chief Executive’s address
- ASM presentation

Included in the Chief Executive Officer’s address is an update on trading and outlook for the
FY23 year.

In his address to shareholders, CEO Ross Taylor said: “Trading in the products and distribution
divisions across New Zealand and Australia remains in line with expectations, and customer
indicators point to volumes remaining at or around current levels for the balance of FY23.

“We are watching lead indicators closely and we have a clear playbook if activity shows any
signs of softening in the next six to nine months.

“In our Residential and Development division, house prices and margins are in line with
expectations, and are running at around 10% below the peak levels reached in December 2021.
House sales volumes have been mixed; solid through July and August, softer in September, but
customer visitation levels have been picking up positively into the spring sales season.

“Group earnings and cash flows are expected to be weighted to the second half of FY23, this is
due to the timing of revenues and working capital builds in the Residential and Development and
Construction divisions.

“And finally, we reconfirm our FY23 EBIT target, of $855 million or better.”

Fletcher Building also outlined its refreshed sustainability strategy which includes a new
commitment to achieve a target of net zero carbon emissions by 2050.

Ross Taylor said: “Our sustainability strategy focuses on what is most important to our business
and to others - our people, communities, customers, key stakeholders and investors - and where
our actions will lead to meaningful change. It is anchored by our purpose, ‘Improving the world
around us through smart thinking, simply delivered.’ Five strategic goals provide the focus we
need to deliver against the measures we are holding ourselves accountable to: A safe, diverse
and inclusive workplace; our community at the heart of what we do; net positive environmental
impact; leading the way in sustainable building products & solutions; and circular economy
commitment across our businesses.

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

“Our sustainability strategy reflects our genuine commitment to making a positive impact
through delivery of both aspirational and achievable goals. We are already on track to reduce
our CO
2
emissions by over 30% by 2030. Now, we are enhancing our efforts to put sustainability
at the core of our business and to set even more ambitious targets for our performance. We
have set out a clear roadmap for achieving net zero carbon emissions across our business by
2050 at the latest.

“We believe businesses like ours have an important role to play in creating positive future
outcomes. Our people and society expect us to act responsibly. At the same time, regulatory
environments are increasingly demanding change and both our customers and investors are
challenging us to meet the expectations of the communities we are part of. For our part we are
choosing to take a leadership position to respond to our changing world, not because we have
to, but because we know it is the right thing to do.”

#Ends

Authorised by:
Chris Reid
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

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Page 1 of 3

Fletcher Building Limited, Private Bag 92114, Auckland 1142, 810 Great South Road, Penrose, Auckland 1061, New Zealand
Wednesday 26 October 2022

FLETCHER BUILDING LIMITED
2022 Annual Shareholders’ Meeting
Chair’s Address

FY22 results at a glance

On behalf of the Board, I’m pleased to report that Fletcher Building delivered a very strong set of
financial results in FY22. Given that the year continued to feel the impacts of the global pandemic,
this performance takes into account the significant COVID disruptions and lockdowns which
occurred during the first quarter.

The Group delivered improved year-on-year revenue, profit and margins while return on funds
employed was ahead of target. EBIT was up 13% for the year and net earnings improved
significantly to $432 million, up 42% on FY21. Cash management has been an important focus
through the disruptions and the year. Cash flows from operating activities were solid at $592
million and our balance sheet remains strong. Against this backdrop of continued operational
improvements and the strong financial result, the Board was pleased to pay total dividends of 40
cents per share for the financial year. The up to $300 million buyback programme was also
completed during the year.

The result continues to demonstrate we remain on the right track and are achieving key
milestones for continued performance and delivering stable results for success.

Focused on driving wider improvements for our stakeholders – safety and engagement

The Board remains very focused on driving strong outcomes across a range of ESG measures
and continuing to drive a performance culture. As with our financial performance, we also made
progress on our key non-financial measures and outcomes during the year.

The left hand box on this slide shows the continued improvements on safety. TRIFR was 3.4 at
the end of the year, 32% down on last year. This translated to 90% of our sites being injury free
through the year. The Board will continue to prioritise these critically important outcomes,
focusing on making achieving ‘zero injuries, every day’ possible and that everyone returns home
from work safely.

After the challenges of resetting our cost base through the early stages of the COVID years, the
Board was pleased to see overall employee engagement improving to 69%. We will maintain our
effort so this continues. We have overseen the implementation of a materially enhanced parental
leave policy, gender affirmation leave, an improved remuneration structure and we are
continuing to work towards pay parity across the Group.

Page 2 of 3

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

Focused on driving wider improvements for our stakeholders – sustainability and customer

Moving to sustainability on the left hand side of this slide. We believe sustainability, in what we
do and the products we make, is central to building a better tomorrow. Over the past few years,
we have focussed our energies on decarbonising, recycling, minimising waste and continually
innovating to produce better, more sustainable products and homes. We continue to make good
progress on reducing carbon and improvements on other sustainability initiatives. Group carbon
emissions are now 12% below our 2018 base levels and we diverted 51% waste from landfill. We
also published our first Climate-related Disclosure report.

Finally on this slide, the Covid disruptions that occurred to demand and supply chains over the
last couple of years impacted on our customer Net Promoter score, which softened slightly to 36
through the year. The Board acknowledges this has been a difficult time for many of our end
customers. The lessons regarding the supply challenges over the last two years have been
learned and we have changed our operational and risk management processes as a result to
help safeguard against them occurring again.

But looking forward, most building product supplies (including plasterboard) are moving back
into balance. Capacity has been added and international and local supply chains are starting to
sort themselves out. Beyond this, we are very focused on improving our own performance and
value proposition to our customers including driving ecommerce and innovative product
solutions.

Overall we are pleased with the progress we are making on safety, our people, sustainability and
our customers but we recognise that there is still work to do

Overseeing longer-term focus and delivering long term value for shareholders

Finally on this slide, as we look ahead to driving the long-term success of Fletcher Building, the
Board is focused on a number of key themes.

Firstly, continuing to oversee the performance culture that is becoming embedded to deliver long
term sustainable performance across both financial and non-financial metrics. To this end, we
are today announcing our commitment to an enhanced sustainability strategy and targets. As
Ross will outline shortly, these initiatives are ambitious, but we see that we need to continue to
play our part in the communities we operate and drive leadership across a number of fronts.

Climate change is an urgent global priority and we are committed to minimising our impact and
managing the climate-related risks to our organisation including on carbon and waste.

We want to lead the way with continued innovation in producing sustainable products and are
committed to driving a circular economy.

Page 3 of 3

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

We value the importance of diversity and inclusion of our people by fostering an inclusive culture
and having better gender and ethnicity balance in leadership. Importantly, this focus is aligned
to driving meaningful outcomes for our people and customers.

Despite all the uncertainty and disruption of the past year, as a Board we never lost sight of our
agenda and core responsibilities to ensure Fletcher Building has the right strategy and execution,
talent and risk management to deliver value in the near- and longer-term.

The investments we are making across the business will further enhance the strength of our
business and is critical for future success and in delivering stable returns to our shareholders.
We are very confident about the current momentum and the direction Fletcher Building is on for
delivering continued success is very well-positioned for the future, both in NZ and Australia.

Before handing over to Ross, I would like to express my thanks, on behalf of the Board, to our
people who have worked so hard to deliver a successful year... particularly amidst the
uncertainties of COVID.

We also thank our shareholders for your continued support. With that, I now invite Ross to provide
his address.


ENDS

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Fletcher Building Limited, Private Bag 92114, Auckland 1142, 810 Great South Road, Penrose, Auckland 1061, New Zealand
Wednesday 26 October 2022

FLETCHER BUILDING LIMITED
2022 Annual Shareholders’ Meeting
Chief Executive Officer’s Address

Our vision, purpose and strategic goals continue to underpin the next steps of our journey

Having delivered a strong set of results in FY22 which Bruce just outlined, our sights are now
set on continuing to improve our operational performance and growing the topline. This slide
summarises on one page what we have been doing to achieve this, and I’ll briefly talk to the 5
key areas we remain focused on going forward:

1. We have a belief all injuries are preventable, and we want to get everyone home safely,
each and every day;
2. We want to see each business absolutely focused on its customers, making sure the
solutions and services that they are offering, are better than what anyone else in the
market can achieve;
3. We need to be ever vigilant that we have our costs under control, against both local and
global competition. To achieve this we will relentlessly; benchmark, evolve, and invest
to ensure we maintain this position;
4. We want the economic performance of each of our businesses, to be in the top quartile
of similar businesses globally, not just our local competition;
5. And finally, we need to take advantage of both; our relative scale in New Zealand and
Australia, and our distance from the larger Northern Hemisphere markets. This allows
us to innovate, and drive sustainability, as a fast follower; and, to disrupt our home
markets and ourselves before others do. This done well, should allow us to readily
achieve above market growth across all of our business lines.

“Improving the world around us through smart thinking simply delivered”

In going after growth in our revenue and profits, it’s important that we make sure we stay true to
our purpose: “Improving the world around us through smart thinking simply delivered”.

We measure our progress against this commitment across a number of areas:
1. Ensuring our workplace is safe, diverse, and inclusive;
2. Putting our community at the heart of what we do;
3. Moving progressively to achieve a net positive impact on the environment;
4. Looking to sell only “sustainable” building products & solutions;
5. And, embedding “circular economy” principles, across all our businesses.

I’ll now talk to each of these areas in a bit more detail.

Fletcher Building Limited, Private Bag 92114, Auckland 1142, 810 Great South Road, Penrose, Auckland 1061, New Zealand
Safe, diverse & inclusive workplace

We want the make up of our business to reflect the communities we operate in, and for our
people to be able to bring their “whole selves” to work each day; and importantly return home
safely at the end of that day.

• We are making good progress on safety with 90% of our sites injury free last year;
• We have set gender targets in management goals, and are starting to see year on year
improvements in the number of women generally, and importantly those in leadership
roles;
• We are ensuring; our facilities, our policies, the forums we run, and the way we behave,
support and foster a diverse and inclusive organisation and culture.

And pleasingly, while there remains much to do, we are seeing our overall employee
engagement scores increasing off the back of this work.

Our community at the heart of what we do

As a large business in our sector, we touch many customers and communities around New
Zealand, Australia and the South Pacific. Doing great things for our customers is clearly
aligned with our business. But equally important is how we support, and enhance the
communities where we operate. We are very active across both these areas.

For our customers;
• We’re providing digital tools to better support them in their business;
• Driving leading ecommerce and online sales options;
• Focusing on providing better stock and service levels than our competition;
• And constantly bringing innovations and smart ideas to them.

We measure our performance constantly, and are looking to get all of our businesses to world
class levels in the coming years.

Across our communities we do many things; both broadly, and at the local level:
• Our larger programs are focused around educational sponsorships and support;
• And all our businesses are active at their local level, and quite often working with our
suppliers and customers, on specific things that matter to those communities.
Through FY22 these activities resulted in donations and sponsorships totalling around $3
million.

Net positive environmental impact

We are absolutely convinced that good business has to be good for the environment, and we
are committed to both achieving this ourselves, and doing what we can to influence the
broader sector.

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

Our carbon emissions; are now down 12% on our 2018 levels, we have detailed plans on
getting to a 30% reduction by 2030, and we are committed to net zero by 2050.

We’re achieving this, through many technology innovations and plant upgrades, but also,
through the clever reuse of waste streams that would otherwise go to landfill - For example, we
have substituted 50% of the coal we use at Golden Bay with waste tyres and waste wood.

We are also focused on maintaining or improving biodiversity at and around; our quarry
operations, and our larger residential development projects – we have found that these types of
operations can be done sustainably.

There is work to do over the coming years to define our targets and pathway to achieve “a net
positive environmental impact” – but we’re convinced it’s absolutely do-able.

Leading the way in sustainable building products & solutions

Innovation in products and solutions are increasingly intertwined with sustainability, and we
expect that trend to increase. Interestingly this is generally not coming at additional cost –
sustainable products are progressively replacing the older products at the same or a lower cost
point. We’re very well positioned to both take advantage of this and drive it within our industry.
Already 61% of our revenue comes from sustainably certified products and we expect this to be
above 75% in 3 years’ time. And we are actively looking at how we drive and introduce
sustainable solutions. A good example is our LowCO home which has been designed to
operate through its life to limit global warming to less than a 1.5 degree increase in
temperatures.

Circular economy commitment across our business

And the final piece of the puzzle, is to consciously eliminate waste across our operations, and to
create ways to reuse both our own and others “end of life” products. As of last year we have
diverted 51% of our waste from landfill, and expect that to be above 70% in 3 years time. We
are making equally strong progress in our “circular economy” commitment, with many exciting
examples now emerging:
• We have diverted 80,000t of other people’s waste from landfill at GBC, and our ambition
is to double this by 2030 and become 100% coal free;
• Our insulation and plastic pipes businesses, already extensively use, both recycled
product, and general recycled plastics and glass;
• And our plasterboard operation will be able to use recycled plasterboard when the new
plant at Tauriko opens next year.

While I am the first to admit that much remains to be done, we are well on the path of driving
both; strong financial returns and growth, while at the same time living up to our promise “to
improve the world around us, through smart thinking simply delivered”.

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

Turning now to a trading update and the outlook for FY23. Trading in the products and
distribution divisions across New Zealand and Australia remains in line with expectations, and
customer indicators point to volumes remaining at or around current levels for the balance of
FY23. We are watching lead indicators closely and we have a clear playbook if activity shows
any signs of softening in the next six to nine months.

In our Residential and Development division, house prices and margins are in line with
expectations, and are running at around 10% below the peak levels reached in December 2021.
House sales volumes have been mixed; solid through July and August, softer in September, but
customer visitation levels have been picking up positively into the spring sales season.

Group earnings and cash flows are expected to be weighted to the second half of FY23, this is
due to the timing of revenues and working capital builds in the Residential and Development
and Construction divisions.

And finally, we reconfirm our FY23 EBIT target, of $855 million or better.

Our strategy positions us well to drive shareholder value in the short- and long-term

When we look at our strategy, we remain confident we are well-positioned to drive shareholder
value, both in the short and longer term.
1. We expect to see solid profit growth in FY23;
2. We continue to have, both plans and runway, to drive further margin improvements
above what we are achieving now;
3. We have an established pipeline of growth opportunities, that will start to mature over the
next 3 years;
4. Our balance sheet and financial position is strong, and we intend to keep it that way;
5. And, we remain ready to act if we see demand starting to ease in the next six to nine
months.

Before I hand back to Bruce, I’d like to thank our people for their commitment and resilience
during what has been a very demanding couple of years. It is through their efforts that we have
been able to get Fletcher Building to a place where we can now focus on the many exciting
opportunities that are in front of us.


And, I would also like to acknowledge all our customers, and thank you our shareholders, for your
ongoing support.

Tēnā koutou, tēnā koutou, tēnā koutou katoa

ENDS

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Fletcher Building Limited
Annual Shareholders’ Meeting 2022
2022 Annual
Shareholders’ Meeting
26 October 2022

Fletcher Building Limited
Annual Shareholders’ Meeting 2022
Bruce Hassall
Chair

Directors
Martin Brydon
Doug McKayCathy Quinn
Rob McDonald
Peter Crowley
Barbara Chapman
Page 3| Fletcher Building Limited Annual Shareholders Meeting 2022| © October 2022

Refreshments
Meeting agenda
Chair’saddress
Chief Executive Officer’s address
Voting on Resolutions
General Q&A
Page 4| Fletcher Building Limited Annual Shareholders Meeting 2022| © October 2022

FY22 results at a glance
1. Measures before significant items are non-GAAP measures used by management to assess the performance of the business
and have been derived from Fletcher Building’s financial statements for the 12 months ended 30 June 2022. Details of
significant items can be found in note 2 of the financial statements
EBIT
1
$756m
FY21 $668m
EPS
53.5c
FY21 37.0c
* Before significant items
EBIT
1
margin
8.9%
FY21: 8.2%
Dividend
40.0cps
FY21: 30.0cps
Cash flows from
operating activities
$592m
FY21 $879m
Return on funds employed
1
19.3%
FY21: 18.8%
Revenue
$8,498m
FY21 $8,120m
Net Earnings
$432m
FY21 $305m
Page 5| Fletcher Building Limited Annual Shareholders Meeting 2022| © October 2022

Focused on driving wider improvements for our stakeholders
Good progress on driving safety and employee culture
Safety: good progress continues
Engagement: focus on continued improvement
Total Recordable Injury Frequency
Rate
1
5.0
3.4
FY21FY22
Employee Engagement Rating
66%
69%
FY21FY22
1. TRIFR = Total no. of recorded injuries per million hours worked. Does not include Restricted
Work Injuries
Page 6| Fletcher Building Limited Annual Shareholders Meeting 2022| © October 2022
90%
(882) sites injury free
•Materially enhanced
parental leave policy;
gender affirmation
leave implemented
•Improved
remuneration
structure & pay parity

Focused on driving wider improvements for our stakeholders
Good progress on lowering carbon emissions
Customer: driving customer solutions & servicesSustainability: 30% lower carbon by 2030
$500m
online sales run-rate
Net Promoter Score
1
41
36
FY21FY22
1,238
1,087
FY18FY22
Carbon (CO
2
) Emissions (‘000 Tonnes)
1.Net Promoter Score (NPS) measures how satisfied our customers are with our business.
Page 7| Fletcher Building Limited Annual Shareholders Meeting 2022| © October 2022
12%
reduction in carbon
emissions from FY18
51%
waste diverted from landfill
61%
of product revenue from
sustainably certified products

Overseeing longer-term focus and delivering long term value for
shareholders
➔Driving strategy and investing for longer term sustainable performance
Page 8| Fletcher Building Limited Annual Shareholders Meeting 2022| © October 2022
➔Committed to enhanced sustainability strategy and targets
➔Delivering stable returns to shareholders

Fletcher Building Limited
Annual Shareholders’ Meeting 2022
Ross Taylor
Chief Executive Officer

Our vision, purpose and strategic goals continue to underpin the next
steps of our journey
Page 10| Fletcher Building Limited Annual Shareholders Meeting 2022| © October 2022
Vision
Purpose
Strategic
Goals
To be the leader in New Zealand and Australian building products and solutions
Improving the world around us through smart thinking, simply delivered
Zero injuries
every day
Market leading
customer
solutions
and services
Lowest
delivered cost
Economic
performance
of each business
in industry
top quartile
Leadership
in innovation,
sustainability,
and growth
via disruption

“Improving the world around us through smart
thinking simply delivered”
We will ensure our growth is achieved while remaining true to our purpose:
➔A safe, diverse and inclusive workplace
➔Our community at the heart of what we do
➔Move progressively to a net positive environmental impact
➔Lead the way in sustainable building products & solutions
➔Circular economy commitment across our businesses
Page 11| Fletcher Building Limited Annual Shareholders Meeting 2022| © October 2022

➔Driving to no serious injuries each year
➔Injury rates down 32% to 3.4
➔Gender balance targets in management goals,
driving to 30% women in leadership
1
(by FY27)
➔Engagement target ≥ 80
Safe, diverse & inclusive workplace
Page 12| Fletcher Building Limited Annual Shareholders Meeting 2022| © October 2022
Our people can bring their whole selves to work and go home safely at the end of the day
We are a diverse organisation that aspires to reflect the communities we operate in and the customers we serve
1. Leadership includes all employees that are classified as frontline leaders, leaders of leaders,
GMs & CEs

Our community at the heart of what we do
Page 13| Fletcher Building Limited Annual Shareholders Meeting 2022| © October 2022
Our actions enrich our customers’ lives and the communities we operate in
➔Customer NPS
1
target ≥ 55
➔190,000 customers on digital platforms
➔Our systems integrate seamlessly with
customer mobile devices & business systems
➔Community activities by our employees
➔$3 million community donations &
sponsorship
1. NPS = Net Promotor Score

Net positive environmental impact
Page 14| Fletcher Building Limited Annual Shareholders Meeting 2022| © October 2022
Our mindset & actions focus on making a positive impact on our environment
➔Carbon down 12%, net zero target by FY50
➔EcoSure® launched, 27% lower carbon cement
than ISCA
1
Baseline
➔Restoring ecosystems in old quarries
1. ISCA = Infrastructure Sustainability Council of Australia

Leading the way in sustainable building products & solutions
Page 15| Fletcher Building Limited Annual Shareholders Meeting 2022| © October 2022
We innovate to deliver sustainable building products & solutions, and work with the industry to achieve this
➔75% revenue from sustainably certified
products
1
(by FY26)
➔LowCOhome construction underway: 7x less
embedded & operating carbon than standard
home
1. ‘% revenue from sustainably certified products’ is defined as gross revenue from products with sustainability certifications (e.g. EPD) as a
% of total gross revenue from products (from manufacturing businesses only)

Circular economy commitment across our businesses
Page 16| Fletcher Building Limited Annual Shareholders Meeting 2022| © October 2022
We consciously eliminate waste and create ways to reuse products & materials
➔70% waste avoided, recycled and/or reused
(by FY26)
➔New Winstone Wallboards plant at Tauriko
can use up to 10% recycled gypsum initially
➔Circular materials offering, egrecycled
concrete, glass, timber plastic

Trading update and outlook
➔Trading in the products & distribution divisions in line with expectations. Input cost inflation being managed
effectively. Current indicators point to volumes remaining at or around current levels for the balance of FY23
➔Watching lead indicators closely, clear playbook if activity shows signs of softening in late FY23 / into FY24
➔House prices & margins in line with expectations at c.10% below the peak in late 2021. House sales volumes have
been mixed: solid through Jul-Aug, soft in Sep, customer visitation levels currently picking up into the spring sales
season
➔Group earnings & cash flows expected to be weighted to the second half in FY23 due to timing of revenues and
working capital build in the Residential and Development and Construction divisions
➔Continue to expect Group leverage to move to c.1.0x in FY23, slightly higher level at HY23 due to cash flows phasing
➔Fletcher Building reconfirms FY23 EBIT target of $855m+
Page 17| Fletcher Building Limited Annual Shareholders Meeting 2022| © October 2022
Note: EBIT is before significant items. Leverage ratio is Net Debt / EBITDA.

Our strategy positions us well to drive shareholder value in the short-and
long-term
Significant
near-term
profit growth
Well-positioned
for economic
cycle
Strong
enduring
financial
position and
returns
Established
pipeline of
growth
investments –
primarily
organic
Plans and
runway for
further margin
improvement
01
0305
02
✓
04
FY23 EBIT target
$855m+
Medium-term
targets:
+100-200bps
in a flat market
c.$500m growth
capex over FY23-25
Industry backlog
supports FY23
activity
9-10%
through-the-cycle
margins
Leverage at
lower-end of
1-2x range
ROFE ≥ 15%
Note: EBIT and margin are before significant items
Page 18| Fletcher Building Limited Annual Shareholders Meeting 2022| © October 2022

Fletcher Building Limited
Annual Shareholders’ Meeting 2022
Resolutions and Voting

Resolutions
➔Ordinary Resolutions
➔Resolution 1 –Re-election of Peter Crowley
➔Resolution 2 –Auditor fees and expenses
Page 20| Fletcher Building Limited Annual Shareholders Meeting 2022| © October 2022

Important Information
ThispresentationhasbeenpreparedbyFletcherBuildingLimitedanditsgroupofcompanies(“FletcherBuilding”)forinformationalpurposes.Thisdisclaimerappliestothis
documentandtheverbalorwrittencommentsofanypersonpresentingit.
Thispresentationdated26October2022shouldbereadinconjunctionwith,andsubjectto,theexplanationsandviewsoffutureoutlookonmarketconditions,earningsand
activitiesgiveninthe2022AnnualReport(togetherwithmanagementcommentary)publishedon17August2022.
Incertainsectionsofthispresentation,FletcherBuildinghaschosentopresentcertainfinancialinformationexclusiveoftheimpactofsignificantitems.Anumberofnon-GAAP
financialmeasuresareusedinthispresentationwhichareusedbymanagementtoassesstheperformanceofthebusinessandhavebeenderivedfromFletcherBuilding’sfinancial
statementsforthe12monthsended30June2022.Youshouldnotconsideranyofthesestatementsinisolationfrom,orasasubstitutefortheinformationprovidedinthe
FinancialStatementsforthe12monthsended30June2022,whichareavailableatwww.fletcherbuilding.com.
TheinformationinthispresentationhasbeenpreparedbyFletcherBuildingwithduecareandattention,however,neitherFletcherBuildingnoranyofitsdirectors,employees,
shareholders,noranyotherpersongivesanyrepresentationsorwarranties(eitherexpressorimplied)astotheaccuracyorcompletenessoftheinformationandtothemaximum
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Page 21| Fletcher Building Limited Annual Shareholders Meeting 2022| © October 2022