• Demonstration Program with CRH Ventures in Florida completed
• 9 code-compliant homes constructed, including 1 home built in a single day
• US$400,000 payable from CRH Ventures to FBR following completion of Demonstration Program

FBR Limited (ASX: FBR) has completed a Demonstration Program with CRH Ventures in Florida, United States, using the Hadrian X® and concrete masonry blocks supplied by an affiliate of CRH Ventures. FBR constructed the external walls of nine homes in the Demonstration Program, with one of the homes being built in a single day. Each structure was confirmed by independent structural engineers to meet applicable building standards. Following the completion of nine structures and the achievement of the milestone of building the walls of a home in a single shift with only three personnel on site, FBR and CRH Ventures reached agreement that the capabilities of the Hadrian X® had been adequately demonstrated throughout the Demonstration Program and deemed the Program complete. The period of 45 calendar days for CRH Ventures to exercise its option to enter an exclusive joint venture with FBR for the supply of Wall as a Service® in the United States will commence by mutual agreement on 2 January 2025. Following the completion of the Demonstration Program, US$400,000 became payable from CRH Ventures to FBR. FBR and CRH Ventures intend to complete at least one home for major US builder PulteGroup under the previously announced Master Trade Contractor Agreement outside of the scope of the Demonstration Program, as well as a home for Neal Communities, another prominent builder in southwest Florida.