Fletcher Building (FBU) investor relations material

Financial performance and outlook

• FY26 EBIT forecasted at $375m–$380m, excluding discontinued operations and including $40m from property sales.

• Six divestments and property sales to deliver approximately $450m in cash, aiding debt reduction.

• Net debt expected to be slightly above the midpoint of the $400m–$900m target range by June 2026.

• Ongoing cost inflation and rising fuel prices are causing delays and cancellations in new commercial projects.

• If these trends persist, performance may be impacted in the first half of FY27.

Capital structure and credit rating

• Transition to a simplified capital structure is well advanced.

• Moody's credit rating to be withdrawn, but investment grade credit metrics will continue to be targeted.

Recent divestments and property sales

• Construction (NZ) division sold for ~$315m; Fiji JV stake sold with non-material proceeds.

• Reinforcing and Wire business sale announced for $15.7m, expected to settle by end of 2026.

• South Australian property sold for ~A$20.05m, with a gain of ~A$10m recognized in FY26 EBIT.

• Laminex Cheltenham property sold for ~A$53.8m, with a gain of ~A$14m recognized in FY26 EBIT.

• Felix Street property sold for ~$53.5m, with a gain of ~$11m recognized in FY26 EBIT.