Scheme of Arrangement Update - IRD Ruling

NZX Statement 25 March 2026

Scheme of Arrangement Update – IRD Ruling
On 2 October 2025 Bremworth Limited ("Bremworth") (NZX Code: BRW) announced it had
entered into a scheme implementation agreement ("SIA") with Floorscape Limited
("Floorscape"), and Mohawk Industries, Inc. (as guarantor) under which Floorscape agreed to
acquire all of Bremworth's shares through a Scheme of Arrangement ("Scheme").
Bremworth is pleased to announce that it has received a private binding ruling from Inland
Revenue on the New Zealand tax implications of the proposed capital return component of the
Scheme consideration as currently contemplated by Bremworth's NZX announcement on 10
February 2026. This satisfies the IRD Ruling condition under the SIA.
The Scheme remains conditional on the satisfaction of the remaining SIA conditions, which
include New Zealand Commerce Commission clearance, shareholder approval, and High Court
approval. Bremworth shareholders do not need to take any action at this stage.

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Mark Devlin Rob Hewett
Impact PR (for Bremworth Ltd) Bremworth Ltd
M: +64 21 509 060 M: +64 21 341 744