Fletcher Building Announces Fiji Divestment

Fletcher Building Limited, 810 Great South Road, Penrose, Auckland 1061, New Zealand
14 May 2026

Fletcher Building Announces Fiji Divestment

Fletcher Building advises that its subsidiary, Higgins, has sold Fletcher Construction’s
remaining shareholding in its Fiji-based construction business to its joint venture
partners, Fijian Holdings Limited (FHL) and the Fiji National Provident Fund (FNPF), for
non-material consideration. FNPF and FHL acquired a 50% stake in the Fiji-based
business in 2024, and have now purchased the remaining 50%.

The Fletcher Construction Fiji business was excluded from the broader Construction
Division sale to VINCI Construction, along with the rest of Fletcher Construction’s South
Pacific operations. The balance of the South Pacific operations remains to be assessed
as part of the wider strategic review process.

Fletcher Building Managing Director and Chief Executive Officer Andrew Reding said:
“Fletcher Building is proud of our peoples’ work in Fiji, having built a strong reputation for
quality work and robust systems and processes. Our local joint venture partners have
now taken the opportunity to acquire full ownership, creating a 100% Fijian-owned
construction entity and ensuring ongoing certainty, stability and local leadership for the
business. In conjunction with the divestment of the New Zealand businesses of our
Construction Division, the sale continues our focus on simplifying Fletcher Building,
divestment and aligns with our longer-term strategic direction.”

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