Rollover of March 2023 Capital Notes

Auckland, 31 January 2023: Fletcher Building Industries Limited advises that noteholders of the March 2023 Capital Notes (FBI170) have been sent an election notice outlining the new terms that will apply from 15 March 2023. Noteholders have the option to retain some or all of their capital notes on the new terms offered or to convert them into fully paid Fletcher Building Limited shares. However, Fletcher Building Industries Limited has the right to redeem or purchase for cash, either directly or by a nominee, any of the capital notes that noteholders elect to convert. Fletcher Building Industries Limited has determined that it will exercise this option and will have a nominee purchase, for cash, those capital notes which noteholders have elected to convert. The noteholders have until Friday 24 February 2023 to advise their election. The new terms of the Capital Notes are: New Election Date: 15 March 2028 New Interest Rate: 6.50% per annum Interest Dates: 15 March and 15 September in each year Series to be known as: March 2028 Capital Notes or FBI220 Elections can be made online at www.fbielection.co.nz. A copy of the election notice and letter to noteholders is attached. Kevin Burke Group General Manager - Treasury & Risk End CA:00405995 For:FBI Type:GENERAL Time:2023-01-31 08:30:36