Update on strategic review

Media release 21 July 2025


Bremworth announces update on strategic review
On 17 February 2025, Bremworth Limited (NZX: BRW) announced that it had commenced a
strategic review of its ownership structure. The decision to undertake this strategic review
followed the finalisation of Bremworth’s insurance settlement and approaches from parties
expressing an interest in Bremworth.
Bremworth’s Board of Directors continues to engage with various parties who have signed
confidentiality agreements and has now progressed to a point that such parties have been
invited to submit proposals.
Bremworth’s shareholders are reminded that there is no certainty that the strategic review will
result in any transaction. The Bremworth Board will continue to keep shareholders and the
market informed of material developments in accordance with Bremworth's continuous
disclosure obligations. Bremworth’s shareholders do not need to take any action at this time.
While the strategic review continues, Bremworth’s new management team, led by Craig
Woolford, is executing a new strategic growth plan that focuses on manufacturing excellence
and growing sales through Bremworth’s retail partners across Australasia. As part of this new
growth plan, Bremworth is planning to launch a new range of selected synthetic carpets that
will be manufactured using existing equipment at Bremworth’s Auckland plant. In addition,
Bremworth is investing in its Napier plant to enable in-house production of its wool-based
yarns to improve yarn quality. This strategic investment is expected to improve margins and
reduce lead times to market.

ENDS
For further information please contact:
Mark Devlin
Director
IMPACTPR.CO.NZ
+64 21 509 060