Scheme of Arrangement Update

NZX Statement 28 May 2026

SCHEME OF ARRANGEMENT UPDATE
On 1 October 2025, Bremworth Limited (“Bremworth”) (NZX Code: BRW) 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”).
The Scheme is conditional on the satisfaction of certain conditions, including clearance from the New
Zealand Commerce Commission (“NZCC”) and approval by Bremworth shareholders.
Recent speculation
The Board has become aware of speculation regarding Bremworth's strategic options in the event the
NZCC declines Floorscape’s clearance application.
The Board reiterates that it believes the Scheme represents the best available opportunity to deliver
compelling value and certainty to Bremworth shareholders. Bremworth continues to have confidence
in the merits of the Scheme for shareholders and New Zealand consumers and will continue to
engage with the NZCC.
In the event that the NZCC does not provide clearance, the Board of Bremworth would assess all of
the strategic options available to Bremworth, and would seek shareholder support for whatever
alternative it determined, at that time, delivers the greatest long-term value for Bremworth
shareholders.
For now, Bremworth continues to operate on a business-as-usual basis and is focused on executing
the initiatives implemented by the Board over the last 12-18 months with the aim of achieving
profitable growth and positive cash flows.

-ENDS-

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Mark Devlin Rob Hewett
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M: +64 21 509 060 M: +64 21 341 744