Fletcher Building Limited · NZX:FBU
Fletcher Building — Shareholder Meeting (October 2026)
35 slides from Fletcher Building's shareholder meeting presentation, Oct 21, 2026
Slide 1: 2026 Annual Shareholders' Meeting – Chair and CEO Address
21 October 2026 For personal use only FLETCHER BUILDING LIMITED 2026 Annual Shareholders’ Meeting Chair and Managing Director & CEO Address Peter Crowley, Chair Agenda Tēnā koutou katoa and good morning, everyone. On behalf of the Board, it is my pleasure to welcome you all to Fletcher Building's 20
Slide 2: Board of Directors and FY26 key takeaways
questions or otherwise may restrict all shareholders having a fair chance to have their questions heard. For those attending online, you can start submitting your questions now. Thank you also For personal use only to the shareholders who have submitted their questions in advance. Andrew and I will
Slide 3: FY26 key outcomes and financial summary
Second, we progressed the execution of our strategy. Management has delivered on the priorities set out at our Investor Day, simplifying the portfolio and sharpening our focus as a building products manufacturing and distribution company. For personal use only Third, we have built a more resilient b
Slide 4: Dividend decision and year outlook
returns to remain central to decision-making and assessments of our performance going forward. Taking into account the progress made to date, and the work still to do, the Board has For personal use only determined not to declare a dividend for FY26. As previously advised, the Group’s dividend polic
Slide 5: Operational improvements in FY26
Improvements to our operations strengthen the Group’s strategic position and its pathway to higher and more sustainable returns. I will highlight four examples in FY26 that are particularly relevant to sustainable For personal use only shareholder value: • The first is Cavendish Drive. Our new Frame
Slide 6: Turnaround plan progress
I want to touch on a few key items from our Turnaround plan. As previously mentioned, the portfolio work is well in train, with the Construction divestment completing sooner than our own expectations, alongside the sales of our Reinforcing and Wire businesses For personal use only and our interests
Slide 7: Divisional performance commentary
Additions & Alterations volume and activity in the rural sector offset weaker residential construction activity in the North Island, while the South Island and Australia performed relatively well. • Winstone Wallboards grew volumes by 4% and again delivered double-digit For personal use only returns
Slide 8: Tailwinds and Headwinds
Tailwinds and Headwinds Let me update you on how market conditions have developed since the full-year results and what that means for the year ahead. For personal use only I’ll start with New Zealand: • First, the Residential market. Building consents are back above 40,000 for the first time since 2
Slide 9: Our safety
So, we are not wating for the markets to turn around to improve our performance. We are proactively continuing with our strategic plan and programme of self-improvement to deliver in any environment For personal use only Our safety Before discussing anything else on safety, I want to acknowledge the
Slide 10: Hunua Quarry and low-carbon cement
Golden Bay Cement is among the top quartile of low-carbon cement producers globally and received the Carbon Reduction Award at the 2025 Concrete NZ Conference Awards. Initiatives such as The Urban Quarry are further examples of our circular economy ambition. For personal use only Hunua Quarry Turnin
Slide 11: Conclusion
Peter Crowley, Chair Conclusion Thank you Andrew. To wrap up, let me return to the five takeaways for FY26 that I set out at the start of my presentation: For personal use only 1. We delivered a steady performance in a tough macro environment; 2. We executed against our strategy; 3. We have a streng
Slide 12: Annual Shareholders' Meeting
Annual Shareholders’ rsonal use only Meeting Update picture 21 OCTOBER 2026 Golden Bay – Portland Manufacturing Plant
Slide 13: Important Information
rsonal use only Important Information This presentation has been prepared by Fletcher Building Limited and its group of companies (together “Fletcher Building”) for informational purposes. This disclaimer applies to this document and the verbal or written comments of any person presenting it. This p
Slide 14: Agenda
rsonal use only Agenda 1. FY26 at a glance Peter Crowley, Chair 2. Operating performance Andrew Reding, Managing Director & CEO 3. Conclusion Peter Crowley, Chair 4. Resolutions Peter Crowley, Chair 5. Thank you Peter Crowley, Chair 3 | Annual Shareholders' Meeting | 21 October 2026 | Fletcher Build
Slide 15: Board of Directors
rsonal use only Board of Directors PETER CROWLEY JAMES MILLER ANDREW REDING CATHY QUINN Chair and Independent Deputy Chair and Independent Managing Director & Independent Non-Executive Non-Executive Director Non-Executive Director Group Chief Executive Officer Director Term of office: Term of office
Slide 16: FY26 at a glance
FY26 at a glance rsonal use only Peter Crowley, Chair Update image
Slide 17: FY26 key takeaways
FY26 key takeaways ❶ Steady performance in a tough macro environment rsonal use only ❷ Progressed the execution of our strategy ❸ Strengthened balance sheet, with net debt in target range ❹ Group ROIC improved, but more work to do ❺ Operating cashflows strong, but continue to be impacted by legacy p
Slide 18: FY26 financial summary
rsonal use only FY26 financial summary Revenue1 EBIT1,2 EBIT Margin1,2,3 Net Earnings $6.0b $414m 6.9% $228m 7.3% higher than FY25 $85m higher than FY25 vs 5.9% FY25 vs -$419m net loss FY25 Net Cash from Capital Net Operating Activities Expenditure Debt ROIC1,2,3 $715m $288m $637m 5.3% vs $501m FY25
Slide 19: Strategy
Strategy We are continuing to execute at pace on the strategy we presented at the Investor Day in June 2025 Strategy Investor Day FY26 rsonal use only • Clear plan with immediate priorities set • Decisive portfolio action, including 1 Urgent action out and next stages identified divestment of Constr
Slide 20: FY26 operational highlights
FY26 operational highlights PlaceMakers’ new Cavendish Drive Frame & Truss plant now operational rsonal use only Firth’s new flagship Auckland batching plant opened in Penrose The Urban Quarry opened a new site in Tamahere, improving cleanfill options for Waikato construction projects Winsto
Slide 21: Operating performance
Operating performance rsonal use only Andrew Reding, Managing Director & CEO
Slide 22: Turnaround plan
Turnaround plan FY26 delivered on portfolio simplification, providing a platform for future ROIC improvement Implemented Future rsonal use only Construction Division divested Australian and Steel divisional Assess and execute on growth restructure options inside core divisions Reinforcing &
Slide 23: FY26 divisional performance
FY26 divisional performance Improvement in core manufacturing performance; however, ROIC remains below acceptable levels $ rsonal use only Light Heavy Development Building Products Building Materials Distribution Residential (Land Sales) Gross revenue1 $2,305m $2,033m $1,577m $478m $121m 10% from
Slide 24: Where are the volumes tracking?
Where are the volumes tracking? Q1 FY27 sales volumes ahead of the prior corresponding period in most business units LIGHT BUILDING PRODUCTS VOLUMES1 HEAVY BUILDING MATERIALS AND FRAME & TRUSS VOLUMES2 Rolling 12m average quarterly volumes, Q4 FY19 = 100 Rolling 12m average quarterly volumes, Q4 FY1
Slide 25: Tailwinds and Headwinds: Where in the cycle are we?
Tailwinds and Headwinds Where in the cycle are we? Residential Commercial Infrastructure rsonal use only 49% revenue exposure 13% revenue exposure 7% revenue exposure House prices remained under near term NZ weak business investment and Supportive, with civil construction, roads NZ pressure, with in
Slide 26: Our safety
Our safety Refreshing our commitment to Protect SERIOUS INJURIES Including Construction Excluding Construction • In 2025, we tragically lost one of our colleagues, Max, in a 4 rsonal use only fatal event in Vanuatu (Construction Division). Our 2 2 1 thoughts remain with his family and colleagues FY2
Slide 27: Our customers
Our customers We’re proud of the products and people helping our customers build their future rsonal use only Firth mobilises mobile Iplex AU drives efficient Laminex NZ Calm & PlaceMakers PLUS plants for two major urban infrastructure Cohesive finishes chosen Customer Loyalty wind farms delivery fo
Slide 28: Our community
Our community Supporting the communities in which we operate Tukapa Rugby & Sports Club received a new roof, rsonal use only via a community Mico team, together with partnership with Dimond our partners, has Roofing, ColorCote, supported Make-A-Wish, Farnsworth Roofing, raising over $450,000 Cunning
Slide 29: Our environment
Our environment Supporting our local environment and improving our operational sustainability Carbon emissions 76% 86% rsonal use only 21% Leadership Supplier Engagement of revenue from of waste diverted lower vs FY18 baseline1 Sustainably Certified Products from landfill A- A Urban Quarry Golden Ba
Slide 30: Hunua Quarry
Hunua Quarry Fast-track approval secures the long-term position of the Hunua quarry within the Auckland market rsonal use only ~3MT ~40MT 10-15 years Up to ~5MT ~225MT Over 50 years Annual Aggregate Estimated Reserve Annual Aggregate Estimated Reserve Production Aggregate Reserves Life Production Ag
Slide 31: Conclusion
rsonal use only @ Conclusion
Slide 32: Conclusion
Conclusion ❶ Steady performance in a tough macro environment rsonal use only ❷ Progressed the execution of our strategy ❸ Strengthened balance sheet, with net debt in target range ❹ Group ROIC improved, but more work to do ❺ Operating cashflows strong, but continue to be impacted by legacy projects
Slide 33: Resolutions
Resolutions rsonal use only Peter Crowley, Chair Update Image
Slide 34: Resolutions
Resolutions ❶ That Sandra Dodds be re-elected as a director of the Company. rsonal use only ❷ That the directors be authorised to fix the fees and expenses of the auditor. That the Company’s Remuneration Report for the year ended 30 June 2026, as detailed on ❸ the Company’s website, be adopted. 23 |
Slide 35: Thank you
rsonal use only Thank you
Fletcher Building — Shareholder Meeting (October 2026) on 6ix