Announcement PDF ASX Announcement FBR Limited FBR completes United States Demonstration Program Highlights  Demonstration Program with CRH Ventures completed after construction of nine code-compliant homes  US$400,000 now payable from CRH Ventures to FBR following completion of Demonstration Program  45 calendar day period for CRH Ventures to exercise option to enter exclusive joint venture with FBR for supply of Wall as a Service® in the United States to commence from 2 January 2025 Monday, 23 December 2024 – Robotic technology company FBR Limited (ASX: FBR) (‘FBR’ or ‘the Company’) is pleased to advise that the Demonstration Program with CRH Ventures in Florida, United States, is now complete. Using the Hadrian X® and concrete masonry blocks supplied by an affiliate of CRH Ventures, FBR constructed the external walls of nine homes in the Demonstration Program, with one of the homes being built in a single day. Each structure was confirmed by independent structural engineers to meet applicable building standards. Following the completion of nine structures and the achievement of the milestone of building the walls of a home in a single shift with only three personnel on site, FBR and CRH Ventures reached agreement that the capabilities of the Hadrian X® had been adequately demonstrated throughout the Demonstration Program and deemed the Program complete, with the period of 45 calendar days for CRH Ventures to exercise its option to enter an exclusive joint venture with FBR for the supply of Wall as a Service® in the United States to commence by mutual agreement on 2 January 2025. Following the completion of the Demonstration Program, US$400,000 became payable from CRH Ventures to FBR. FBR and CRH Ventures intend to complete at least one home for major US builder PulteGroup under the previously announced Master Trade Contractor Agreement outside of the scope of the Demonstration Program, as well as a home for Neal Communities, another prominent builder in southwest Florida. Upon commencement of the potential joint venture, a binding conditional purchase order for 20 Hadrian X® construction robots will be submitted to FBR at a price of US$2 million per unit. Simultaneously, a US$40 million loan facility will be established by CRH Ventures that the joint venture entity can draw down on in tranches to pay for the manufacture and delivery of the Hadrian X® construction robots. FBR will also replace the unit used to conduct the Demonstration Program in the United States with a U.S.-spec unit at no additional cost to the joint venture. Further to the announcement released to the ASX on 18 January 2024, FBR and CRH Ventures have considered the early stage cash requirements of the joint venture and agreed to make an initial working capital investment totalling US$500k to cover loan facility repayments ahead of delivery of US-spec Hadrian X® units, with deposits for two Hadrian X® units totalling US$2.2m immediately payable to FBR upon formation of the joint venture. Another unit will be delivered as soon as possible after delivery of the initial two units, in addition to the replacement for the unit used to conduct the Demonstration Program. The remaining 17 units in the initial 20-unit purchase order will be delivered in tranches of 3 units after the joint venture meets the agreed performance milestones for each tranche. Further conditional purchase orders of 39 Hadrian X® units and 40 Hadrian X® units will be submitted to FBR by the joint venture once defined metrics relating to gross margin and fleet utilisation are achieved (for more detail see ASX announcement dated 18 January 2024). FBR Limited (ASX: FBR) | ABN 58 090 000 276 +618 9380 0240 | www.fbr.com.au 122 Sultana Road West, High Wycombe, Western Australia 6057 1 ASX Announcement FBR Limited After supply of the first 100 Hadrian X® construction robots, the joint venture will be granted options to purchase an additional 200 Hadrian X units (40 options of 5 units) at the lesser of US$2.5 million each plus compounded CPI increases, or the price charged by FBR’s applicable third-party manufacturer, thereby providing a pathway to 300 Hadrian X units in the U.S.. This announcement has been authorised for release to the ASX by the FBR Board of Directors. Ends For more information please contact: FBR Limited Andrew Edge Investor Relations Manager T: +61 8 9380 0240 andrew.edge@fbr.com.au For media: Peter Klinger Purple T: +61 (0)411 251 540 pklinger@purple.au About FBR Limited FBR Limited (ASX: FBR) designs, develops and builds dynamically stabilised robots to address global needs in a safer, more efficient and more sustainable way. These robots are designed to work outdoors using the company’s core Dynamic Stabilisation Technology® (DST®). The first application of DST® is the Hadrian X®, a bricklaying robot that builds structural walls faster, safer, more accurately and with less wastage than traditional manual methods. The Hadrian X® provides Wall as a Service®, FBR’s unique commercial offering, to builders on demand. To learn more please visit www.fbr.com.au FBR Limited (ASX: FBR) | ABN 58 090 000 276 +618 9380 0240 | www.fbr.com.au 122 Sultana Road West, High Wycombe, Western Australia 6057 2