Scheme of Arrangement - Commerce Commission Clearance

01/07/2026 08:30 NZST, TRANSACTP

Bremworth Limited ("Bremworth") (NZX Code: BRW) has been advised that the New Zealand Commerce Commission has given Floorscape Limited ("Floorscape") clearance to acquire all of the shares in Bremworth under the scheme of arrangement ("Scheme") announced on 2 October 2025.

Bremworth’s Board remains fully supportive of the Scheme and continues to be of the view that this is the best option for shareholders to realise value for their investment in Bremworth.

Scheme Update

As detailed in Bremworth's announcement dated 27 May 2026, the delays in the New Zealand Commerce Commission's decision date meant that an extension to the End Date under the scheme implementation agreement (“SIA”) was required.

The Board is engaging with Floorscape on extending the SIA to ensure implementation can occur subject to the remaining conditions under the SIA. The Board is also considering any options to truncate the timetable. Bremworth will update shareholders once discussions with Floorscape have concluded.

If a further extension is not agreed, and if implementation does not occur prior to 7 August 2026 either Bremworth or Floorscape may elect to terminate the SIA, meaning the Scheme would lapse.

1 July 2026

-ENDS-

For media enquiries, please contact:

Jackie Ellis

Ellis and Co (for Bremworth Ltd)

M: +64 27 246 2505

Rob Hewett

Bremworth Ltd

M: +64 21 341 744