• Reece to conduct on-market share buyback of up to $35 million
• Buyback to be funded from existing cash and debt facilities
• Buyback expected to commence on or after 12 December 2025

Reece Limited ('Reece') today announces an on-market share buyback targeting up to $35 million, following the completion of the $365 million off-market share buyback in October. This modest increase reflects the upper limit previously announced. Chair & CEO Peter Wilson said: 'We have a well-defined capital allocation framework and continue to take a long-term approach to shareholder value creation. We remain committed to maintaining a strong balance sheet with a conservative leverage ratio to fund future growth.' The buyback will be funded from Reece's existing cash and debt facilities. The on-market buyback is expected to commence on or after 12 December 2025. It will be conducted in the ordinary course of trading and may continue for up to 12 months. The actual number of shares to be purchased, and the timing of purchases, will depend on market conditions, share price, and other factors.