SPH Notice - FirstCape Group Limited

Disclosure of beginning to have substantial holding

Section 276, Financial Markets Conduct Act 2013



To NZX Limited

and

To
Fletcher Building Limited (FBU)
Date this disclosure made: 20 October 2026
Date on which substantial holding
began:
19 October 2026


Substantial product holder(s) giving disclosure
Full name(s):
FirstCape Group Limited


Summary of substantial holding
Class of quoted voting
products:
Ordinary Shares (Shares)
Summary for:
FirstCape Group Limited (FirstCape)
For this
disclosure -
(a) total number held in
class:
54,121,922

(b) total in class: 1,075,561,767

(c) total percentage held
in class:
5.032%

Details of relevant interests:

Nature of relevant interest(s):
Relevant interest in Shares that FirstCape wholly-owned
subsidiary Harbour Asset Management Limited (Harbour) has a
relevant interest in. Harbour has the power to exercise (or control
the exercise of) rights to vote attached to, and power to acquire
or dispose of (or control the acquisition or disposal of), Shares
under investment powers contained in trust deeds or investment
management agreements with clients. FirstCape has those powers
and controls indirectly, as the ultimate owner of Harbour.
Number held in class:
38,338,958
Percentage held in class:
3.565%

Current registered holder of
financial products:
For on market purchases: Unknown
For on market sales: Various nominees or custodians for and on
behalf of Harbour Asset Management Limited
Registered holder of financial
products once transfer is
registered:
For on market purchases: Various nominees or custodians for
and on behalf of Harbour Asset Management Limited
For on market sales: Unknown

Nature of relevant interest(s):
Relevant interest in Shares that its wholly-owned subsidiary
JBWere (NZ) Limited has a relevant interest in. JBWere (NZ)
Limited has the power to exercise (or control the exercise of)
rights to vote attached to, and power to acquire or dispose of (or
control the acquisition or disposal of), Shares under the terms of
investment management agreements with clients (who are the
beneficial owners of the Shares). FirstCape has those powers
and controls indirectly, as the ultimate owner of JBWere (NZ)
Limited.
Number held in class:
15,782,964
Percentage held in class:
1.467%
Current registered holder of
financial products:
For on-market purchases: Unknown

For on-market sales: JBWere (NZ)
Nominees Limited & FNZ Custodians Limited
Registered holder of financial
products once transfer is
registered:
For on-market purchases: JBWere (NZ)
Nominees Limited & FNZ Custodians Limited

For on-market sales: Unknown


Details of transactions and events giving rise to substantial holding:

The transactions/events giving rise to this disclosure obligation are on-market buy and sell trades
and off-market transfers since the 19 June 2026 by FirstCape Group Limited, as summarised in the
table below.

Details for: Harbour Asset
Management Limited
JBWere (NZ) Limited

On-market purchases –
number of shares
14,573,929 737,624
On-market purchases –
gross consideration
$51,050,308.08 $2,588,731.80
On-market sales –
number of shares
3,505,039 1,301,001
On-market sales – gross
consideration
$13,493,618.06 $4,977,593.21
Net transfer into DIMS
N/A 130,354

Additional information
Address of substantial product
holder:
Level 21, 171 Featherston Street, Wellington
Contact details:
Conor Moynihan
T +04 474 4400
Conor.Moynihan@jbwere.co.nz



Name of any other person believed to have given, or believed to be required to give, a
disclosure under the Financial Markets Conduct Act 2013 in relation to the financial products to
which this disclosure relates: None.

Certification

I, Conor Moynihan, certify that, to the best of my knowledge and belief, the information
contained in this disclosure is correct and that I am duly authorised to make this disclosure by all
persons for whom it is made.