Fletcher Building Update on NZICC

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

Fletcher Building Update on NZICC

Auckland, 1 July 2024: Fletcher Building Limited (the “Company”) today provided an
update on the New Zealand International Convention Centre and Hobson Street Hotel
project (“NZICC”).

The Hobson Street Hotel portion of the project has now achieved practical completion
and has been handed over to the client, SkyCity.

The Company has also settled its remaining Contract Works Insurance (“CWI”) claims
with the NZICC project insurers and SkyCity. The CWI settlement proceeds are
materially in line with those assumed in the Company’s provision taken in February
2024, and so de-risks this aspect of the project.

In line with announcements made in February 2024, the Company continues to target
completion of NZICC by the end of calendar 2024. The current provision on the project
is unchanged from that taken in February 2024. However, risks will remain until the
project is completed, as described in the Company’s HY24 Financial Statements. These
include risks on time and cost to complete the construction works and commission the
building, and the potential for disputes and wash-up claims against the Company.

#Ends

Authorised by:
Haydn Wong
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