Fletcher Building withdraws resolution

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

Fletcher Building withdraws resolution
Auckland, 11 October 2023: Fletcher Building Limited announced today that its
Board of Directors has decided to withdraw Resolution 6 – Directors’
Remuneration, from its upcoming Annual Shareholders’ Meeting, to be held on
27 October 2023.

“As disclosed in the Notice of Annual Shareholders’ Meeting, the current annual
remuneration pool for directors was granted at the Annual Shareholders’
meeting in October 2011,” said Fletcher Building Chair Bruce Hassall. “Given that
the pool had not been adjusted for more than 12 years, Resolution 6 sought
approval for an increase in order to align with comparable listed entities in New
Zealand and Australia.

“The Board is committed to maintaining strong dialogue with our shareholders.
Over the course of the engagement process it became clear that while many
shareholders were supportive of the resolution, others expressed the view that
the pool should not be adjusted until it was necessary. On matters relating to its
own remuneration, the Board prefers a clear mandate, and so after careful
consideration, the Board has decided to withdraw the resolution. Shareholders
are not required to do anything.

“We look forward to addressing other important matters on the agenda at the
upcoming Annual Shareholders Meeting.”

#Ends

Authorised by:
Ashleigh Harding
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