Statement from FBU Chairman

Statement from Fletcher Building Chairman, Sir Ralph Norris Auckland, 14 February 2018: The Fletcher Building Board understands the disappointment of our shareholders regarding the latest provisioning in the Building + Interiors (B+I) business. As Chairman of Fletcher Building, our shareholders place significant faith in me to act in their best interests. This has always been my priority. I also know shareholders expect accountability from the Board for all aspects of the Company's performance. In this context I wish to announce that I will stand down as Chairman. To allow an orderly transition of the Board this will occur no later than the 2018 Annual Shareholders' Meeting. I said at our last Annual Shareholders Meeting in October that I felt a sense of obligation to see the business through these challenging circumstances and to complete the CEO transition and Board refresh I had commenced. We have appointed a new CEO, Ross Taylor, who is now ably leading the business and three new Directors and a new Chairman will be appointed in the coming months. I remain committed to providing leadership continuity during this time, and will continue to support my fellow directors and management in setting a new strategic direction for the Company. Fletcher Building remains a great and solid business. I have every confidence it will weather this storm, and once again deliver our shareholders the value they expect and deserve. #Ends For further information please contact: Leela Gantman Head of Communications +64 27 541 6338 Leela.gantman@fbu.com Rodney Deacon Head of Investor Relations +64 21 631 074 Rodney.deacon@fbu.com End CA:00314161 For:FBU Type:GENERAL Time:2018-02-14 08:32:22