Vulcan completes the final payment for Roofing Industries

Vulcan Steel Limited 29 Neales Road, East Tamaki, Auckland 2013, New Zealand P 09 273 7214 E investor@vulcan.co VU L C A N . C O
Vulcan Steel Limited (ASX: VSL, NZX: VSL)

ASX and NZX announcement

30 January 2026


Vulcan completes the final payment for the
acquisition of Roofing Industries
Vulcan Steel Limited (Vulcan) advises that it has paid the second and final payment
required under the sale and purchase agreement dated 26 August 2025 (Agreement)
with Francis and Gellatly Holdings Limited, a company owned by founding owners Keith
Francis and David Gellatly, relating to the acquisition of Roofing Industries Limited
(Roofing Industries).

As provided for in the Agreement, the second payment was for 20% of the initial
NZ$88 million purchase price, adjusted for actual cash, debt, net working capital and
fixed assets of the Roofing Industries Group at the 30 September 2025 completion date.


ENDS

Kar Yue Yeo and Sarah-Jane Lawson
Investor and media contacts
Email: karyue.yeo@vulcan.co
Email: sarah-jane.lawson@vulcan.co
Phone: +64 9 273 7214
This announcement was authorised by Vulcan’s Board of Directors.

About Vulcan
Founded in 1995, Vulcan is an Australasian-wide industrial product distributor and value-
added processor with 80 logistics and processing facilities employing approximately
1,650 employees across the company’s Steel, Metals and Roofing divisions.