Update from InfraBuild on news reports 

There are news articles reporting on legal action in the Supreme Court of the State of New York against InfraBuild by one of its bond holders. 

InfraBuild will seek to have it dismissed. 

This appears to be a nuisance complaint with no foundation and no factual basis. 

There has been no event of default as described in the complaint. 

There has been no change of control nor requirement to repay the bond.   

The complaint relates to a disputed security agreement that is not recognised by InfraBuild and was fully disclosed in our accounts and in our bond offering memorandum.  

InfraBuild looks forward to working with its bond holders as the company continues to grow and move forward. 

It is business as usual at InfraBuild.  

InfraBuild is a separate company with its own board, governance structure and its own financing structure which distinguishes it from the wider GFG Group. 

InfraBuild is a strong business with a resilient supply chain and its liquidity remains robust with strategic measures in place for it to manage any challenging local or global steel market conditions. 

Finally, this complaint has no connection to recent events in South Australia.