Scheme of Arrangement Update - NZ Commerce Commission

On 1 October 2025, Bremworth Limited ("Bremworth") (NZX Code: BRW) entered into a scheme implementation agreement (“SIA”) with Floorscape Limited ("Floorscape") and Mohawk Industries, Inc. (as guarantor), under which Floorscape agreed to acquire all of Bremworth's shares through a Scheme of Arrangement ("Scheme"). The Scheme is conditional on the satisfaction of certain conditions, including clearance from the New Zealand Commerce Commission ("NZCC") and approval by Bremworth shareholders. NZCC update On Thursday 2 April 2026, the NZCC confirmed that it will be releasing a Statement of Unresolved Issues in connection with the Scheme. The publication by the NZCC of a Statement of Unresolved Issues is a standard part of the merger clearance process – it is not a final decision and does not indicate that the NZCC intends either to give or to decline clearance. The NZCC has extended its decision date to 29 May 2026. Impact on Scheme timeline As a result of the NZCC's extension to 29 May 2026, it is unlikely that implementation of the Scheme could occur prior to the End Date of 1 July 2026 specified in the SIA. Unless an extension is agreed, if implementation does not occur prior to 1 July 2026, either Bremworth or Floorscape may elect to terminate the SIA, meaning the Scheme would lapse. Next steps In light of the revised NZCC timeline, the Board will engage with Floorscape on extending the SIA to ensure implementation can occur assuming NZCC clearance is received on 29 May 2026 and shareholders approve the Scheme. The Board is also considering any options to truncate the timetable. Bremworth will update shareholders once discussions with Floorscape have concluded. 7 April 2026 -ENDS- For media enquiries, please contact: Mark Devlin Impact PR (for Bremworth Ltd) M: +64 21 509 060 Rob Hewett Bremworth Ltd M: +64 21 341 744