REECE LIMITED — Capital/Financing Update 2012

Oct 24, 2012

Octob e r 25, 201 2

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Reece Australia Limited announces that due to the ch a llenging t rading en v ironment, sales f o r the first quarter were down 3 % on th e prior yea r . As a re s ult, profit before ta x for the half year e nding 31 Decembe r 2012 is e xpected t o be down in the ord e r of 4% – 6% co m pared to the same period las t year.

Reece is very w ell place d to conti n ue to manage the downturn in the building and constr u ction ind u stries a n d consu m er restr a int throu g h its ne t work of over 45 0 strategically located branc h es acros s the nati o n, a stro n g cash p osition and balanc e sheet. The Co m pany ha s continu e d to gro w the bra n ch netwo r k with 7 new site s opene d in the fir s t quarter.

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L. Alan Wilson Executive Chairman