Slide 1: Full Year Results to 30 June 2026
Full Year Results to 30 June 2026 Update picture 19 AUGUST 2026 Golden Bay – Portland Manufacturing Plant
Slide 2: Important Information
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 presentation prov
Slide 3: Agenda
Agenda 1. FY26 at a glance Andrew Reding, Managing Director & CEO 2. Operating performance Andrew Reding, Managing Director & CEO 3. Our stakeholders Andrew Reding, Managing Director & CEO 4. Financial results Will Wright, CFO 5. Outlook Andrew Reding, Managing Director & CEO 6. Conclusion Andrew Re
Slide 4: FY26 at a glance
FY26 at a glance Andrew Reding, Managing Director & CEO Update image
Slide 5: FY26 key takeaways
FY26 key takeaways ❶ Steady performance in a tough macro environment ❷ Progressed the execution of our strategy ❸ Resilient 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 5 | FY26 Re
Slide 6: FY26 financial summary
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 vs $280m FY25 v
Slide 7: Turnaround plan
Turnaround plan FY26 delivered on portfolio simplification, providing a platform for future ROIC improvement Implemented Future Construction Division divested Australian and Steel divisional Assess and execute on growth restructure options inside core divisions Reinforcing & Wire divested
Slide 8: FY26 operational highlights
FY26 operational highlights ▪ PlaceMakers’ new Cavendish Drive Frame & Truss plant now operational ▪ Firth new flagship Auckland batching plant opened in Penrose - a significant investment in Auckland’s ready-mix capacity ▪ The Urban Quarry opened a new site in Tamahere, improving cleanfill options
Slide 9: Operating performance
Operating performance Andrew Reding, Managing Director & CEO
Slide 10: FY26 divisional performance
FY26 divisional performance Improvement in core manufacturing performance; however, ROIC remains below acceptable levels $ Light Heavy Development Building Products Building Materials Distribution Residential (Land Sales) Gross revenue1 $2,305m $2,033m $1,577m $478m $121m 10% from $2,089m 4% fro
Slide 11: Light Building Products
Light Building Products Additions & Alterations volumes offset weaker North Island new build activity • Winstone Wallboards volumes +4%, led by a PRODUCT VOLUMES1 Rolling 12m average quarterly volumes, Q4 FY19 = 100 strong South Island market (+11%), renovation activity and specialty board 140 volum
Slide 12: Heavy Building Materials
Heavy Building Materials Improved contribution from Steel businesses PRODUCT VOLUMES2 • Winstone Aggregates saw a strong Rolling 12m average quarterly volumes, Q4 FY19 = 100 improvement in 2H driven by key project wins and market share growth in The Urban 140 Quarry 130 • Firth gained market share,
Slide 13: Distribution
Distribution Returned to profitability in 2H FY26 • Weak trading in 1H FY26 amidst sustained PLACEMAKERS FRAME & TRUSS PRODUCT VOLUMES 1 Rolling 12m average quarterly volumes, Q4 FY19 = 100 margin pressure in response to a market slowdown. Performance materially improved 140 in 2H, delivering $15.8m
Slide 14: Residential & Development
Residential & Development Subdued property market impacted sales volumes RESIDENTIAL & DEVELOPMENT HOUSE SETTLEMENTS • 536 units taken to profit in FY26 compared 12mth volumes2 to 666 in FY25 (-130 units) • EBIT1 $42m (vs $53m FY25); 8.8% EBIT 886 margin (80 bps lower vs FY25), impacted by 836 lower
Slide 15: Our stakeholders
Our stakeholders Andrew Reding, Managing Director & CEO
Slide 16: Our safety
Our safety Refreshing our commitment to Protect SERIOUS INJURIES As at 30 June 2026 Including Construction Excluding Construction • In July 2025, we tragically lost one of our colleagues, Max, in a 4 fatal event in Vanuatu (Construction Division). Our thoughts 2 2 1 remain with his family and collea
Slide 17: Our people
Our people Targeted investment in leadership, skills and culture is lifting engagement and building capability to deliver our strategy Senior leader engagement Employee Education Fund (EEF) Continuing to grow diversity Reconciliation Action Plan Focus on leadership The EEF continues to invest in Fle
Slide 18: Our community
Our community Supporting the communities in which we operate For many years, the Mico team, Tukapa Rugby & Sports Club in together with our customers, Taranaki has received a brand- suppliers and partners, has new roof. The project was a supported Make-A-Wish. result of a community partnership led b
Slide 19: Our customers
Our customers We’re proud of the products and people helping our customers build their future Firth mobilises mobile plants for Iplex AU - driving efficient urban Laminex Calm & Cohesive finishes PlaceMakers PLUS two major wind farms infrastructure delivery chosen for flagship clinic PlaceMakers lau
Slide 20: Our environment
Our environment Supporting our local environment and improving our operational sustainability Carbon emissions 76% 86% Supplier 21% of revenue from of waste diverted Leadership Engagement lower vs FY18 baseline1 Sustainably Certified Products from landfill A- A Urban Quarry opened a Golden Bay Cemen
Slide 21: Financial Results
Financial Results Will Wright, CFO
Slide 22: Income statement for continuing operations
Income statement for continuing operations Core manufacturing and distribution divisions’ EBIT improved $46m; first positive EPS since FY23 INCOME STATEMENT JUNE 2026 JUNE 2025 • Revenue increased 7.3% vs pcp, with improved volumes NZ$m 12 MONTHS 12 MONTHS across the core manufacturing and distribut
Slide 23: Discontinued operations
Discontinued operations The Construction division, Reinforcing & Wire and Vivid businesses have been presented as discontinued operations FINANCIAL PERFORMANCE & CASHFLOW JUNE 2026 • New Zealand construction businesses were sold to VINCI NZ$m 12 MONTHS (completed 29 May 2026) Revenue 1,048 Cost of g
Slide 24: FY26 Significant Items
FY26 Significant Items Total Group Significant Items of ($40m) in FY26, relating to legal costs, restructure and start-up of new facilities SIGNIFICANT ITEMS FY26 • Significant Items from continuing operations include: NZ$m Total from continuing operations (41) • Winstone Wallboards remaining costs
Slide 25: FY25 to FY26 EBIT bridge
FY25 to FY26 EBIT bridge Improvements in volume, pricing and tight cost control resulted in EBIT1 improvement GROUP EBIT BRIDGE FY25 to FY26 $m 13 (26) 49 (12) 75 414 (23) 383 (54) 9 338 FY25 Group Discontinued Clevercore FY25 Continuing Volume Price Residential Net Overhead Surplus Property Other F
Slide 26: Balance sheet
Balance sheet Disciplined capital allocation and divestment proceeds improve balance sheet resilience BALANCE SHEET 30 JUNE 2026 30 JUNE 2025 • Invested capital decreased by $286m (-5%) vs FY25. This NZ$m 1,830 1,905 included an increase of $142m driven by movement in Inventories Debtors 831 849 NZD
Slide 27: Cash flows
Cash flows Improved operating cash of $715m CASH FLOWS JUNE 2026 JUNE 2025 • Operating cash flow improved by $214m vs pcp, reflecting NZ$m 12 MONTHS 12 MONTHS higher earnings across the core operations, land sale Cash flow from operating activities proceeds and lower Construction legacy cash outflow
Slide 28: Central costs
Central costs Group central costs reduced by 21% on a continuing operations basis, pre recharge CENTRAL COST SUMMARY JUNE 2026 JUNE 2025 • Gross Group corporate and divisional costs declined vs FY25 NZ$m 12 MONTHS 12 MONTHS following continued cost discipline, restructure and Continued Disc. Total C
Slide 29: Capital expenditure and stripping
Capital expenditure and stripping Lower levels of capital expenditure expected as we move towards being a more disciplined capital allocator • $288m capital expenditure in FY26 vs $280m in FY25 CAPITAL EXPENDITURE BREAKDOWN $m, excluding investment property and development and mining, consenting, an
Slide 30: Funding mix
Funding mix Continued progress on moving to a simpler lower-cost capital structure TOTAL FACILITIES MATURITY PROFILE Current Group position As at 30 June 2026, $m 1,044 • Undrawn credit lines of $1bn as at 30 June 2026; total liquidity of ~$1.2bn Capital Notes Bank Loans • FY28 maturities are reflec
Slide 31: Net Debt bridge
Net Debt bridge $362m reduction driven by divestments and property sales NET DEBT (30 June 2025 – 30 June 2026) $m 999 (771) 74 (8) (380) 96 (22) 637 320 7 264 58 FY25 Earnings Sig Items & Legacy Capital Group Working R&D Working Construction Proceeds from Lease principal & Funding Costs Other FY26
Slide 32: Outlook
Outlook Andrew Reding, Managing Director & CEO Update Image
Slide 33: Tailwinds and Headwinds
Tailwinds and Headwinds Residential Commercial Infrastructure 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 inventory levels high. economic uncertainty c
Slide 34: Outlook
Outlook • Market volumes recovered gradually through the second half of FY26, with some demand likely brought forward ahead of pricing increases • The economic, political and geopolitical backdrop remains uncertain and is expected to weigh on performance in the first half of FY27 • Heightened levels
Slide 35: Conclusion
Conclusion Andrew Reding, Managing Director & CEO Update picture
Slide 36: Conclusion
Conclusion ❶ Steady performance in a tough macro environment ❷ Progressed the execution of our strategy ❸ Resilient 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 36 | FY26 Results P
Slide 37: Appendix
Appendix Update picture
Slide 38: Fletcher Building at a Glance
Fletcher Building at a Glance • A leading building materials manufacturer and distributor across New Zealand and Australia • NZX and ASX listed (FBU), with market cap of ~NZ$4bn • FY26 Revenue of $6.0b and EBIT1 of $414m (continuing operations) • Operates through a portfolio of 19 core business unit
Slide 39: Light Building Products
Light Building Products • Winstone Wallboards: strong earnings supported by robust South 12 months ended Change from 12 months ended Island demand and improved operational performance, particularly at 30 June 2026 30 June 2025 the Tauranga plant, with A-grade board recovery up 2% Gross revenue $2,30
Slide 40: Heavy Building Materials
Heavy Building Materials • Winstone Aggregates: annual volumes impacted by a weaker 1H, with 12 months ended Change from 12 months ended partial 2H recovery driven by key project wins and The Urban Quarry. 30 June 2026 30 June 2025 Operating and overhead cost reductions protected margins alongside c
Slide 41: Distribution
Distribution 12 months ended Change from 12 months ended 30 June 2026 30 June 2025 • The residential construction market improved year on year in 2H Gross revenue $1,577m 3% from $1,528m FY26, although margins remain constrained as activity is still at historically low levels, leaving excess capac
Slide 42: Residential & Development
Residential & Development Residential1 12 months ended Change from 12 months ended 30 June 2026 30 June 2025 • 536 units Taken To Profit (TTP) in FY26 (incl. 15 apartments), 130 Gross revenue $478m 13% from $550m units lower vs FY25 External revenue $478m 13% from $550m • Development mix transit
Slide 43: Divisional breakdowns
Divisional breakdowns NZ$m Gross External Gross Overheads1 Operating Other Equity Reval3 and EBIT before Sig Items+ EBIT DD&A EBITDA EBITDA Revenue Revenue* Margin* Margin income / Accounted other gains Sig Items before Sig (expense)2+ Earnings / (losses) Items 12 months to JUNE 2026 Light Building
Slide 44: Divisional EBIT breakdowns
Divisional EBIT breakdowns NZ NZ AU AU Divisional EBIT (before Sig Items) (NZ$m) 12 months to JUNE 2026 12 months to JUNE 2025 12 months to JUNE 2026 12 months to JUNE 2025 Wood & Panels 120 102 60 52 Water 10 4 29 23 Insulation 10 7 17 18 Total Light Building Products EBIT (excl divisional costs) 1
Slide 45: Divisional sector revenue exposures
Divisional sector revenue exposures Estimated Divisional breakdown (FY26) NZ Residential NZ Commercial NZ Infrastructure AU Residential AU Commercial AU Infrastructure Wood & Panels 31% 10% 1% 39% 19% - Water 10% 1% 10% 33% 4% 41% Insulation 14% 14% - 52% 20% - Total Light Building Products 24% 8% 3
Slide 46: Working capital performance
Working capital performance Working capital volatility has improved and is more in line with long-term averages (excluding R&D) GROUP CUMULATIVE MONTHLY ∆TRADING CASH (INCL CONSTRUCTION) 1,2 GROUP (ex CONSTRUCTION & R&D) CUMULATIVE MONTHLY ∆TRADING CASH 1 (FY19 – FY26); $m (FY19 – FY26); $m 200 200
Slide 47: Management of lease portfolio
Management of lease portfolio Reduction in lease liabilities, combined with a reduction in lease tenure • FY26 lease liabilities were ~$1.2bn, representing ~61% of the Group’s gross Lease Liabilities As at As at debt NZ$m 30 JUN 2026 30 JUN 2025 • Lease terms were re-assessed and materially shortene
Slide 48: Credit metrics
Credit metrics JUNE 2026 JUNE 2025 Credit metrics & covenants 12 MONTHS 12 MONTHS Pre-IFRS 16 Net Debt $637m $999m Senior Leverage Ratio (covenant 3.25x from FY26) 1.1x 1.6x Senior Interest Cover Ratio (covenant 2.25x, moving to 2.75x in 2H27) 5.1x 3.9x 48 | FY26 Results Presentation | 19 August 202
Slide 49: Iplex Australia
Iplex Australia House remediations and pipe replacements building momentum, no change to provisions • Iplex Australia's Western Australia Industry Response continues to Completed as Completed as Completed as Completed as progress within the A$155 million provision recognised in Remediation at at at
Slide 50: Silicosis
Silicosis ~A$5m increase in Laminex provision to A$13.3m reflects the latest claims data and accounts for current and potential undiagnosed cases • Laminex Australia (together with other engineered stone Silicosis related provision A$m manufacturers, distributors, and fabricators in Australia) is th