REECE LIMITED — Capital/Financing Update 2018

May 16, 2018

17 May 2018

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The Manager Market Announcements Office ASX Limited Level 4 North Tower, Rialto 525 Collins Street Melbourne VIC 3000

Dear Sir / Madam

Notice under section 708A(5)(e) of the Corporations Act 2001 (Cth)

This notice is given by Reece Limited (ACN 004 313 133) ( Reece; ASX Code: REH ) under section 708A(5)(e) of the Corporations Act 2001 (Cth) as modified by ASIC Corporations (Disregarding Technical Relief) Instrument 2016/73 (the Act ).

Reece has today issued 17,555,578 new fully paid ordinary shares ( New Shares ) at a price of $10.20 per New Share to institutional investors pursuant to a $179 million placement that was first announced on Monday, 7 May 2018. As announced on Wednesday, 9 May 2018, the size of the placement was increased from $139 million to $179 million in response to significant demand from new and existing institutional investors.

Reece confirms that:

• (a) the New Shares were issued without disclosure to investors under Part 6D.2 of the Act;

• (b) this notice is being given under section 708A(5)(e) of the Act;

• (c) as at the date of this notice, Reece has complied with:

  • (i) the provisions of Chapter 2M of the Act as they apply to Reece; and

  • (ii) section 674 of the Act; and

• (d) as at the date of this notice, there is no excluded information of the type referred to in sections 708A(7) and 708A(8) of the Act.

Yours sincerely

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Gavin Street Company Secretary