Scheme of Arrangement Update - IRD Ruling

25/03/2026 08:34 NZDT, TRANSACT

On 2 October 2025 Bremworth Limited ("Bremworth") (NZX Code: BRW) announced it had 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").

Bremworth is pleased to announce that it has received a private binding ruling from Inland Revenue on the New Zealand tax implications of the proposed capital return component of the Scheme consideration as currently contemplated by Bremworth's NZX announcement on 10 February 2026. This satisfies the IRD Ruling condition under the SIA.

The Scheme remains conditional on the satisfaction of the remaining SIA conditions, which include New Zealand Commerce Commission clearance, shareholder approval, and High Court approval. Bremworth shareholders do not need to take any action at this stage.

25 March 2026

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Mark Devlin

Impact PR (for Bremworth Ltd)

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Rob Hewett

Bremworth Ltd

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