Scheme of Arrangement Update - NZ Commerce Commission

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"). The SIA is conditional upon the satisfaction of certain conditions, including receipt of a clearance decision from the New Zealand Commerce Commission ("NZCC") in respect of the Scheme. As detailed in Bremworth's NZX announcement, on 7 April 2026 the NZCC indicated it will be releasing a Statement of Unresolved Issues and extended its decision date to 29 May 2026. The NZCC has now advised that it requires an extension to this decision date and Floorscape has agreed to a revised decision date of 30 June 2026. As a result of the NZCC's extension to 30 June 2026, it is unlikely that implementation of the Scheme could occur prior to the End Date of 7 August 2026. Unless a further extension to the SIA is agreed, 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. 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 30 June 2026 and shareholders approve the Scheme. Bremworth will provide a further update to shareholders once discussions with Floorscape have concluded. Bremworth continues to have confidence in the merits of the Scheme for shareholders and New Zealand consumers and will engage with the NZCC as required. 27 May 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