Procedural judgment received on NZICC subcontractor claim

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

Procedural judgment received on NZICC subcontractor claim

Auckland, 13 May 2024: Fletcher Building Limited (the “Company”) notes the
procedural judgment released today by the High Court of New Zealand relating to
Fletcher Construction Company Limited and its claims against MPM Waterproofing
Services and JEL Waterproofing Limited, the subcontractors responsible for the
membrane roofing work on the NZICC project. FCC alleges that the fire was caused by
MPM and/or JEL and is seeking recovery of its uninsured losses, which are significant,
some of which are described in the judgment. The High Court judgment relates to a
procedural issue and makes no substantive findings in relation to the claims.

The Company confirms that the costs and claims noted in the judgment have been fully
considered in the Company’s current position on the NZICC project and do not change
the provision position or risk factors disclosed as per our 2024 Interim financial
statements.


#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