BRAMBLES LIMITED — Capital/Financing Update 2019

Feb 17, 2019

Brambles Limited ABN 22 000 129 868 Level 10 Angel Place 123 Pitt Street Sydney NSW 2000 Australia GPO Box 4173 Sydney NSW 2001 Tel +61 2 9256 5222 Fax +61 2 9256 5299 www.brambles.com

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18 February 2019

The Manager-Listings Australian Securities Exchange Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000

Via electronic lodgement

Dear Sir or Madam

Brambles confirms the ongoing separation of its IFCO RPC business

Enclosed is an announcement regarding the above.

Yours faithfully Brambles Limited

Robert Gerrard Group Company Secretary

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ASX & Media Release

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Brambles confirms the ongoing separation of its IFCO RPC business

Sydney – 18 February 2019: In response to media speculation today relating to a possible sale of Brambles’ IFCO business, Brambles refers to its statement made on 24 August 2018 announcing its intention to separate its IFCO RPC business via a dual track demerger or sale process.

Brambles confirms the separation process is on track and is expected to be completed during 2019. Whilst the assessment of sale interest is at an advanced stage, the processes are incomplete and both the demerger and sale work streams are continuing.

Brambles will inform the market of the any relevant developments on the IFCO separation in accordance with its continuous disclosure requirements.

For further information, please contact:

Sean O’Sullivan Natasha Davis Vice President, Investor Relations Senior Manager Investor Relations +61 2 9256 5262 +61 2 9256 5231 +61 412 139 711 +61 428 474 737 sean.osullivan@brambles.com natasha.davis@brambles.com

Brambles Limited (ASX: BXB) Under the CHEP and IFCO brands Brambles helps move more goods to more people, in more places than any other organisation on earth. Its pallets, crates and containers form the invisible backbone of the global supply chain and the world’s biggest brands trust Brambles to help them transport their goods more efficiently, sustainably and safely. As pioneers of the sharing economy, Brambles created one of the world's most sustainable logistics businesses through the share and reuse of its platforms under a model known as ‘pooling’. Brambles primarily serves the fast-moving consumer goods (e.g. dry food, grocery, and health and personal care), fresh produce, beverage, retail and general manufacturing industries. The Group employs approximately 11,000 people and own approximately 630 million pallets, crates and containers through a network of more than 850 service centres. Brambles operates in more than 60 countries with its largest operations in North America and Western Europe. For further information, please visit www.brambles.com

Forward-Looking Statements: Certain statements made in this release are “forward-looking statements” – that is, statements related to future, not past, events. Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates”, and similar expressions are intended to identify forward-looking statements. These forward-looking statements are not historical facts, but rather are based on Brambles’ current beliefs, assumptions, expectations, estimates and projections. Forward-looking statements are not guarantees of future performance, as they address matters that are uncertain and subject to known and unknown risks, uncertainties and other factors that are beyond the control of Brambles, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Brambles cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the views of Brambles only as of the date of this release. The forward-looking statements made in this release relate only to events as of the date on which the statements are made – Brambles will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or events occurring after the date of this release, except as may be required by law or by any appropriate regulatory authority.

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