REECE LIMITED — Capital/Financing Update 2014

May 28, 2014

May 29, 2014

==> picture [115 x 183] intentionally omitted <==

Reece Australia Limited announces that as a result of improved trading performance and the integration of the Reece and Actrol businesses, sales for the 10 months ending 30 April 2014 were 13.5% above the same period last year. Normalised full year earnings before tax and unrealised foreign exchange movements and acquisition costs are forecast to be in the order of 15% above the prior year.

Taking into account the impact of the recognition of unrealised foreign exchange movements and accounting for acquisition costs, the statutory profit before tax is forecast to be in the order of 3% - 5% above the prior year.

==> picture [80 x 58] intentionally omitted <==

L. Alan Wilson Executive Chairman