FBR executes MOU for Hadrian unit sale

• FBR signs MOU with Fraser Lyne Constructions for sale of Hadrian unit
• Initial purchase order for one unit at A$7.8 million
• Staged transaction with deposit and remainder upon successful testing

FBR Limited (ASX:FBR) has executed a non-binding Memorandum of Understanding with New South Wales builder Fraser Lyne Constructions Pty Ltd for the sale of a Hadrian® unit under a Machine Supply Agreement. The Agreement proposes a staged transaction, starting with an information exchange process, followed by a deposit of A$780,000 within 14 days of executing the definitive agreements, and the remainder of the A$7.8 million purchase price to be paid within 30 days of successful completion of Factory Acceptance Testing. The Agreement is subject to execution of a binding definitive agreement and Fraser Lyne obtaining financing or a partner to operate the Hadrian®. The Agreement also provides for a minimum 12-month machine warranty, training for Fraser Lyne personnel, and remote IT and operating/maintenance support. Fraser Lyne is a construction company specializing in residential construction in the Mid North Coast of New South Wales, where there is a significant housing shortage and a substantial deficit in the capacity to supply new housing.

FBR is excited to be working with the Fraser Lyne team to introduce the Hadrian® to New South Wales and help solve the housing crisis in the region.