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Annual Shareholders’ Meeting 21 OCTOBER 2026 Golden Bay – Portland Manufacturing Plant Update picture
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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 provides additional comment on the 2026 Full Year Financial Results, as derived from Fletcher Building’s financial statements dated 18 August 2026. As such, it should be read in conjunction with, and subject to, the explanations and views given in those financial statements. Unless otherwise specified, all information as derived from Fletcher Building’s financial statements is for the 12 months ended 30 June 2026. In certain sections of this presentation, Fletcher Building has chosen to present certain financial information exclusive of the impact of Significant Items. A number of non- GAAP financial measures, such as measures before Significant Items, are included in this presentation which are used by management to assess the performance of the business and have been derived from Fletcher Building’s financial statements for the 12 months ended 30 June 2026. You should not consider any of these statements in isolation from, or as a substitute for, the information provided in Fletcher Building’s financial statements for the 12 months ended 30 June 2026, which are available at www.fletcherbuilding.com. Details of Significant Items can be found in note 2.2 of those financial statements. The information in this presentation has been prepared by Fletcher Building with due care and attention; however, neither Fletcher Building nor any of its related companies, directors, employees, shareholders nor any other person gives any representations or warranties (either express or implied) as to the accuracy or completeness of the information and, to the maximum extent permitted by law, no such person has any liability whatsoever to any person for any loss (including, without limitation, arising from any fault or negligence) arising from this presentation or any information supplied in connection with it, or any reliance thereon. This presentation may contain forward looking statements, that is statements related to future events or other matters. Forward looking statements may include statements regarding intent, belief or current expectations in connection with future operating or financial performance, or market conditions. Such forward looking statements are based on current expectations, estimates and assumptions and are subject to a number of risks and uncertainties, including material adverse events, significant one-off events or expenses and other unforeseeable circumstances. There is no assurance that results contemplated in any of these forward looking statements will be realised. Actual results may differ materially from those projected or assumed by such forward looking statements. Except as required by law, or the rules of any relevant stock exchange, no person is under any obligation to correct or update this presentation at any time after its release or to provide further information about Fletcher Building. The information in this presentation does not constitute financial product, legal, financial, investment, tax or any other advice or any recommendation. 2 | Annual Shareholders' Meeting | 21 October 2026 | Fletcher Building Limited
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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 Building Limited
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JAMES MILLER Deputy Chair and Independent Non-Executive Director Term of office: Appointed Director in Jun 2025 Appointed Deputy Chair in Dec 2025 Last elected 2025 annual meeting SANDRA DODDS Independent Non-Executive Director Term of office: Appointed Director in Sep 2023 Last elected 2023 annual meeting CATHY QUINN Independent Non-Executive Director Term of office: Appointed Director in Sep 2018 Last elected 2024 annual meeting Board of Directors | Annual Shareholders' Meeting | 21 October 2026 | Fletcher Building Limited4 ANDREW REDING Managing Director & Group Chief Executive Officer Term of office: Appointed Director in Aug 2024 Last elected 2024 annual meeting PETER CROWLEY Chair and Independent Non-Executive Director Term of office: Appointed Director in Oct 2019 Appointed Board Chair in Feb 2025 Last elected 2025 annual meeting TONY DRAGICEVICH Independent Non-Executive Director Term of office: Appointed Director in Aug 2024 Last elected 2024 annual meeting JACQUI COOMBES Independent Non-Executive Director Term of office: Appointed Director in Apr 2025 Last elected 2025 annual meeting
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FY26 at a glance Peter Crowley, Chair Update image
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FY26 key takeaways | Annual Shareholders' Meeting | 21 October 2026 | Fletcher Building Limited6 ❶ Steady performance in a tough macro environment 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
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1. Continuing operations 2. Before Significant Items 3. Excluding surplus property sales, EBIT Margin was 6.2% (FY25: 5.8%) and ROIC was 4.7% (FY25: 4.1%)7 EBIT1,2 $414m $85m higher than FY25 Net Debt $637m vs $999m FY25 ROIC1,2,3 5.3% vs 4.1% at FY25 Capital Expenditure $288m vs $280m FY25 Revenue1 $6.0b 7.3% higher than FY25 EBIT Margin1,2,3 6.9% vs 5.9% FY25 Net Earnings $228m vs -$419m net loss FY25 Net Cash from Operating Activities $715m vs $501m FY25 FY26 financial summary | Annual Shareholders’ Meeting | 21 October 2026 | Fletcher Building Limited
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• Decentralisation and upskilling of GMs • Senior leader eNPS increased to +59 (+21 since October 2025) Strategy We are continuing to execute at pace on the strategy we presented at the Investor Day in June 2025 8 Investor Day Urgent action • Clear plan with immediate priorities set out and next stages identified • Business units and the Group will measure return against industry-specific WACC targets • Develop and integrate a performance- driven culture across the business • Set net debt target of $400m - $900m (pre IFRS-16) 1 Focus on high performance • Decisive portfolio action, including divestment of Construction, Reinforcing & Wire and surplus property • ROIC performance now a key BU focus, reflected in updated remuneration framework • Net debt now in mid-range, $637m • Focus on delivery of sustainable free cash flows FY26Strategy 2 3 4 Empower our leaders Strengthened capital structure | Annual Shareholders’ Meeting | 21 October 2026 | Fletcher Building Limited
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FY26 operational highlights PlaceMakers’ new Cavendish Drive Frame & Truss plant now operational 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 Winstone Aggregates Hunua Quarry fast-track expansion now received Fletcher Insulation AU successfully delivered the new Sonata Acoustics plant Iplex NZ recycling programme has diverted more than 15,000 tonnes of pipe off-cuts from landfill Iplex AU successfully commissioned a new PVC high speed foam core line in Strathpine, and additional large bore BlackMax capacity in Albury Laminex AU improved performance through a disciplined cost-out programme | FY25 Results Presentation | 20 August 2025 | Fletcher Building Limited9 Update pic 9 | Annual Shareholders' Meeting | 21 October 2026 | Fletcher Building Limited
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Operating performance Andrew Reding, Managing Director & CEO
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11 | Annual Shareholders' Meeting | 21 October 2026 | Fletcher Building Limited Turnaround plan FY26 delivered on portfolio simplification, providing a platform for future ROIC improvement Implemented Future Australian and Steel divisional restructure Group IT restructure Group-wide SAP rollout stopped Initial phase of corporate cost out and decentralisation restructure Completion of NZICC, and legacy projects provisioned Golden Bay Cement domestic manufacturing secured until 2040 Simplified capital structure and USPP exit Construction Division divested Reinforcing & Wire divested NX2 and CSP divested Property portfolio optimisation (Cheltenham, Felix St, Elizabeth) MADE by Laminex shut down Clever Core shut down Frame & Truss repurposed to former Clever Core site (~$100m cash benefit) Stopped industrial land development Assess and execute on growth options inside core divisions Continue to assess wider portfolio for strategic fit and ROIC performance Complete strategic review of Residential & Development Further decentralise corporate functions and drive lower costs Reset dividend policy as free cash flow and balance sheet targets are met
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FY26 divisional performance Improvement in core manufacturing performance; however, ROIC remains below acceptable levels 12 Light Building Products Heavy Building Materials Distribution Residential Development (Land Sales) Gross revenue1 $2,305m 10% from $2,089m $2,033m 4% from $1,950m $1,577m 3% from $1,528m $478m 13% from $550m $121m $7m in FY25 EBIT (ex Sig Items)1 $246m 22% from $201m $108m 8% from $100m $12m 37% from $19m $42m 21% from $53m $52m $3m in FY25 EBIT margin (%) 10.7% 110bps from 9.6% 5.3% 20bps from 5.1% 0.8% 40 bps from 1.2% 8.8% 80 bps from 9.6% - ROIC (ex Sig Items)2 7.2% 130bps from 5.9% 5.1% 60bps from 4.5% 1.4% 60 bps from 2.0% 3.7% 120 bps from 4.9% - Invested Capital (as at 30 June 2026) $2,520m 9% from $2,306m $1,508m 2% from $1,545m $646m 3% from $628m $811m 13% from $718m - 1. Excl. corporate costs and Group eliminations; 2. ROIC calculated on a 12m rolling basis $ | Annual Shareholders’ Meeting | 21 October 2026 | Fletcher Building Limited
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Where are the volumes tracking? Q1 FY27 sales volumes ahead of the prior corresponding period in most business units 13 Note: 1. Winstone Wallboards: Domestic board volumes; Laminex AU: Domestic laminate sales; Fletcher Insulation: Glasswool sales volumes; Iplex NZ: Plastic pipe volumes; Iplex AU: Plastic pipe and other sales volumes LIGHT BUILDING PRODUCTS VOLUMES1 Rolling 12m average quarterly volumes, Q4 FY19 = 100 HEAVY BUILDING MATERIALS AND FRAME & TRUSS VOLUMES2 Rolling 12m average quarterly volumes, Q4 FY19 = 100 Note: 2. Winstone Aggregates: Aggregates sales volumes; Golden Bay Cement: Domestic cement volumes; Firth: Ready mix volumes; ColorCote: local volumes; Humes: Concrete pipe volumes; PlaceMakers: Frame & truss volumes | Annual Shareholders’ Meeting | 21 October 2026 | Fletcher Building Limited 50 60 70 80 90 100 110 120 130 140 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Winstone Wallboards Iplex NZ Laminex AU Iplex AU Fletcher Insulation 50 60 70 80 90 100 110 120 130 140 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Winstone Aggregates Golden Bay Cement Firth (Ready-mix) ColorCote PlaceMakers Frame & Truss
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Tailwinds and Headwinds 14 ● Positive; ● Mixed; ● Negative Residential 49% revenue exposure Commercial 13% revenue exposure Infrastructure 7% revenue exposure NZ House prices remained under near term pressure, with inventory levels high. Impact on new build activity uncertain. Robust additions and alterations activity NZ weak business investment and economic uncertainty continue to constrain demand Supportive, with civil construction, roads and bridges continuing. Timing for new projects remains uncertain Residential 20% revenue exposure Commercial 7% revenue exposure Infrastructure 4% revenue exposure AU Population growth and underlying housing demand provide support, however, activity is pressured by elevated interest rates and affordability Business investment is expected to grow, with the focus on data centres Strong pipeline, spanning all sectors, including transport, energy, water and Olympic facilities Positive; ( ̶ ) Mixed; Negative Where in the cycle are we? | Annual Shareholders’ Meeting | 21 October 2026 | Fletcher Building Limited
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• In 2025, we tragically lost one of our colleagues, Max, in a fatal event in Vanuatu (Construction Division). Our thoughts remain with his family and colleagues • The safety and wellbeing of our people continues to be our highest priority • Since resetting Protect nearly seven years ago, we have seen a 90% reduction in serious injuries and a 50% reduction in our recordable injuries • All sites have been assessed for their safety performance and cultural maturity, with plans put in place for each site • In FY27, we will be reviewing and refreshing our Protect framework Our safety Refreshing our commitment to Protect 15 SERIOUS INJURIES TRIFR Total Recordable Injury Frequency Rate CRITICAL RISKS (% CONTROLLED) 2 4 1 2 FY25 FY26 Including Construction Excluding Construction 2.9 3.33.1 3.7 FY25 FY26 Including Construction Excluding Construction 70% 79%73% 81% FY25 FY26 Including Construction Excluding Construction | Annual Shareholders’ Meeting | 21 October 2026 | Fletcher Building Limited
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Our customers We’re proud of the products and people helping our customers build their future 16 Laminex NZ Calm & Cohesive finishes chosen for flagship clinic PlaceMakers PLUS Customer Loyalty Programme Firth mobilises mobile plants for two major wind farms Iplex AU drives efficient urban infrastructure delivery | Annual Shareholders’ Meeting | 21 October 2026 | Fletcher Building Limited
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Our community 17 Supporting the communities in which we operate Fletcher Living Canterbury team, planted 300 native trees in Horotane Valley as part of an ongoing effort to help restore Christchurch's natural landscape Tukapa Rugby & Sports Club received a new roof, via a community partnership with Dimond Roofing, ColorCote, Farnsworth Roofing, Cunningham Construction, Bremick, and Lifestyle Building & Construction. Fletcher Insulation, Stramit, Iplex and Laminex staff contributed over 2,000 meals for the First Nations community, in partneship with Meals for the Mob Mico team, together with our partners, has supported Make-A-Wish, raising over $450,000 | Annual Shareholders’ Meeting | 21 October 2026 | Fletcher Building Limited
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Our environment 18 Note: 1. Scope 1 & 2 Emissions (market-based method); 2. Based on published Environmental Product Declarations (EPDs) Supporting our local environment and improving our operational sustainability Leadership A- Supplier Engagement A ESG Rating AAA ESG Rating 71 ESG Rating B ESG Rating 4.5 Carbon emissions 21% lower vs FY18 baseline1 76% of revenue from Sustainably Certified Products 86% of waste diverted from landfill Golden Bay Cement also received the Carbon Reduction Award at the 2025 Concrete NZ Conference Awards Golden Bay Cement supported the re- introduction of around 450 wētāpunga (giant wētā) to Matakohe Limestone Island Urban Quarry opened a new site in Tamahere, offering managed and cleanfill solutions to clients in the central North Island. Comfortech has partnered with Lodestone Energy to match 100% of electricity used at the Penrose site with solar renewable energy | Annual Shareholders’ Meeting | 21 October 2026 | Fletcher Building Limited
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Hunua Quarry Fast-track approval secures the long-term position of the Hunua quarry within the Auckland market | Annual Shareholders' Meeting | 21 October 2026 | Fletcher Building Limited19 • Hunua Quarry is one of Auckland’s largest quarries with current output representing approximately 20-25% of Auckland’s total aggregate production • Approval of fast-track consent secures the future of the quarry, with both greater certainty of resource availability and the flexibility to expand production • Extending the economic life of the quarry and enabling its future expansion delivers significant and sustained benefits to the Auckland region ~40MT Estimated Aggregate Reserves 10-15 years Reserve Life ~225MT Estimated Aggregate reserves Over 50 years Reserve Life Up to ~5MT Annual Aggregate Production ~3MT Annual Aggregate Production
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Conclusion
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Conclusion 21 ❶ Steady performance in a tough macro environment 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 | Annual Shareholders’ Meeting | 21 October 2026 | Fletcher Building Limited
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Resolutions Peter Crowley, Chair Update Image
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Resolutions 23 ❶ That Sandra Dodds be re-elected as a director of the Company. ❷ That the directors be authorised to fix the fees and expenses of the auditor. ❸ That the Company’s Remuneration Report for the year ended 30 June 2026, as detailed on the Company’s website, be adopted. | Annual Shareholders’ Meeting | 21 October 2026 | Fletcher Building Limited
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Thank you