Higgins Preferred Supplier on Road Maintenance Contracts

Fletcher Building Limited, 810 Great South Road, Penrose, Auckland 1061, New Zealand

19 December 2025

Higgins Named Preferred Supplier on Major Road Maintenance Contracts

Fletcher Building announces that its subsidiary, Higgins Contractors, has been appointed
as preferred contractor for the East Waikato, Bay of Plenty and Hawkes Bay Integrated
Delivery Contracts (IDC) with the New Zealand Transport Agency Waka Kotahi (NZTA)
for state highway road maintenance, each for a 10-year term from April 2026. The IDCs
are part of NZTA’s new Integrated Delivery Model, the delivery mechanism for the
maintenance of the regional state highway network. As preferred contractor, Higgins
Contractors will work with NZTA to finalise the IDCs for each of the relevant regions.

Higgins currently delivers road maintenance for all three regions as well as Manawatu,
which was not retained under the new delivery system. However, the Bay of Plenty
Region contract covers a significantly larger area than the current contract, meaning the
revenue value of the new contracts, estimated to be in the order of ~$1.3 billion over their
10-year term (excluding any potential inflation escalation and variations during the term),
remains broadly in line with that of the previous model.

Fletcher Building Managing Director and Group Chief Executive Officer Andrew Reding
commented “When the final contracts are signed, they will represent a long-term pipeline
of work for the Higgins team. This reflects the high level of trust Higgins has earned from
NZTA. We look forward to Higgins continuing this positive relationship with NZTA through
delivering cost-effective and quality road maintenance for road users across New
Zealand."

ENDS

Authorised for release to the market by Haydn Wong, Company Secretary.
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For further information please contact:
INVESTORS Alex MacDonald, GM Corporate Finance & Investor Relations +64 21 221 4266 Alex.MacDonald@fbu.com
MEDIA Christian May, Chief Corporate Affairs Officer +64 21 305 398 Christian.May@fbu.com
For information on Fletcher Building visit fletcherbuilding.com