• Targets $250M buy-back, with flexibility to accept more or less
• Buy-back price range of $11.00 to $13.00 per share
• Designed to benefit all shareholders through capital return and increased metrics

Reece Limited ('Reece') today announces an off-market share buy-back targeting $250 million. The buy-back will be conducted by an off-market tender process which will open on Monday, 29 September 2025 and close at 5:00pm (Melbourne time) on Friday, 17 October 2025. The buy-back will be open to eligible shareholders who are registered holders of Shares on the Buy-back Record Date (Friday, 26 September 2025) and who have a registered address in Australia, New Zealand and other eligible jurisdictions. The buy-back price will be set in a range from $11.00 to $13.00, which the Board will determine based on shareholder demand at different tender price increments. Final size and price will also depend on market conditions, value creation, Reece's capital allocation framework and other factors. The buy-back is targeting $250 million, and the Board retains the discretion to accept more or less, subject to an upper limit of $400 million. Reece Chairman & CEO, Peter Wilson said the buy-back demonstrates the Board's confidence in the company's long-term strategy and that it is an efficient way to return excess capital to shareholders, while maintaining a conservative leverage ratio. Despite the challenging near-term outlook, Reece remains optimistic for the long-term and will maintain financial flexibility to fund future growth opportunities. Depending on the outcome of this buy-back, Reece may explore further capital management options including a potential on-market buy-back.

Despite the challenging near-term outlook, Reece remains optimistic for the long-term and will maintain financial flexibility to fund future growth opportunities. Depending on the outcome of this buy-back, Reece may explore further capital management options including a potential on-market buy-back.