FLEETWOOD LIMITED — Capital/Financing Update 2018

Aug 16, 2018

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NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES

17 August 2018

SUCCESSFUL COMPLETION OF RETAIL ENTITLEMENT OFFER

Fleetwood Corporation Limited ACN 009 205 261 (ASX: FWD) ( Fleetwood ) is pleased to announce the successful completion of the retail component of its fully underwritten pro-rata accelerated nonrenounceable entitlement offer ( Entitlement Offer ) of new Fleetwood ordinary shares ( New Shares ), which was announced to ASX on 25 July 2018.

The retail component of the Entitlement Offer ( Retail Entitlement Offer ) allowed eligible retail shareholders in Fleetwood the opportunity to acquire 1 New Share for every 2.9 existing Fleetwood ordinary shares held as at 7.00pm (Sydney time) on Friday, 27 July 2018 at a price of $1.80 per New Share. The Retail Entitlement Offer closed at 5.00pm (Sydney time) on Monday, 13 August 2018.

The Retail Entitlement Offer was well supported by eligible retail shareholders. Eligible retail applicants’ acceptance totalled approximately 4.7 million New Shares (representing a 50% take-up) and subscriptions for a further approximately 1.7 million additional New Shares in excess of their entitlement ( Additional Shares ) were accepted.

New Shares that were not taken up by eligible retail shareholders in the Retail Entitlement Offer were allocated to eligible retail shareholders who applied for Additional Shares (those shareholders who applied for less than 1,000 New Shares were allocated those number of shares and were otherwise allocated up to a maximum of 200% of their entitlement). As the Entitlement Offer was fully underwritten, the remaining New Shares (approximately 3 million) were then allocated to the underwriter and subunderwriters of the Retail Entitlement Offer.

Shareholders should confirm their shareholding before trading Fleetwood shares on the ASX. Refunds for the small number of oversubscriptions scaled back to 200% of their entitlement will be issued.

Commenting on the outcome of the Entitlement Offer, Fleetwood’s Managing Director and CEO, Brad Denison said “We are very pleased with the support shown by institutional investors and Fleetwood’s shareholders for the equity raising. This demonstrates strong investor support for the strategy to acquire Modular Building Systems and Northern RV. ”

The New Shares issued under the Retail Entitlement Offer will rank equally in all respects with existing Fleetwood shares and will be issued on Monday, 20 August 2018. Trading is expected to commence on a normal settlement basis on the ASX the following day.

For further information please contact :

Brad Denison Managing Director and CEO

Andrew Wackett Chief Financial Officer

+61 8 9323 3300

About Fleetwood

Fleetwood is a provider of innovative affordable modular accommodation solutions and parts and accessories.

Established in 1964 and employing people in Australia and New Zealand, Fleetwood aims to outperform by providing genuine value. Our beliefs and commitment are outlined in the company’s statement of values “Delivering the Promise”.

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For more, please visit www.fleetwoodcorporation.com.au