STEEL & TUBE HOLDINGS LIMITED

Shareholders of Steel & Tube Holdings Limited

Steel & Tube Holdings Limited is a widely held NZX-listed issuer. At 30 June 2026 it had 183,632,035 fully paid ordinary shares on issue held by 6,250 registered holders, and the twenty largest registered holders together held 45.55% of the class. The largest registered holdings disclosed in the FY26 annual report (as at 30 June 2026) were:

Substantial product holders: the FY26 annual report states that the company received no substantial security holder notices during the year ended 30 June 2026. Standing notices previously released to NZX include an initial substantial product holder notice by New Zealand Steel Limited released on 17 October 2018 over 26,274,753 ordinary shares, then 15.828% of the class; a substantial product holder notice by Perry Group Limited released on 1 May 2025, following the Perry Metal Protection transaction; and an earlier notice by Lennon Holdings Limited. Percentages stated in a substantial product holder notice are as at the date of that notice and move with the number of shares on issue; the register percentages in the table above are the current measure.

Custodians and nominees: New Zealand Depository Nominee Limited, Citibank Nominees (New Zealand) Limited, Custodial Services Limited, Forsyth Barr Custodians Limited, FNZ Custodians Limited, ASB Nominees Limited and Public Trust Class 10 Nominees Limited appear on the register as custodian or depository companies. They hold legal title to shares for underlying investors – brokers, funds, platforms and individual clients – and are not beneficial owners. A holding in a nominee or depository name says nothing about who the economic owner is, and the underlying investors are not identified on the share register. Several of these holdings sit inside the New Zealand Central Securities Depository (NZCSD), which is settlement infrastructure rather than an investor.

Ultimate beneficial ownership

No shareholder controls Steel & Tube Holdings Limited. The largest registered holding at 30 June 2026 was 14.31%, below the 20% threshold in the Takeovers Code, and the FY26 financial statements identify no parent or ultimate controlling entity: the group comprises Steel & Tube Holdings Limited and its subsidiaries. On the information reviewed, no natural person holds 25% or more, directly or indirectly.

New Zealand Steel Limited (New Zealand company number 68953, NZBN 9429040649184, incorporated 26 July 1965) is a substantial product holder and the largest single shareholder, not a controlling shareholder. New Zealand Steel states on its own corporate website that it is a wholly owned subsidiary of BlueScope Steel Limited, the Australian listed steelmaker, so the beneficial interest behind that 14.31% stake sits ultimately with BlueScope Steel Limited and its shareholders. The stake was built through acquisitions disclosed in October 2018.

Data availability

New Zealand has no public register of ultimate beneficial owners. The Companies Register records registered shareholders and share allocations only, not beneficial ownership, and for a listed issuer the register is dominated by nominee names. The disclosures that do exist are substantial product holder notices under the Financial Markets Conduct Act 2013, triggered at 5% and at each 1% movement thereafter, together with the annual report analysis of shareholding.

The shareholder percentages previously held on this record (New Zealand Steel Limited 42.14%, Citibank Nominees (NZ) 11.02%, New Zealand Depository Nominee 6.23%, John Francis Managh 2.47% and a Dimensional ETF 0.16%) do not match the company disclosure and should not be relied on. The audited FY26 annual report gives 14.31%, 0.54%, 3.53% and 0.85% respectively, and the Dimensional holding is not among the twenty largest. Figures above are as at 30 June 2026 unless a notice date is given.

Directors and officers of Steel & Tube Holdings Limited

The New Zealand Companies Register records six current directors of Steel & Tube Holdings Limited (company number 8418). All are non-executive, and the company describes each of them as an independent director.

Mark Malpass is Chief Executive Officer. He is not a director of Steel & Tube Holdings Limited, although he and Richard Smyth are recorded in the FY26 annual report as the directors of the group subsidiaries. Executive managers are not recorded as officers on the New Zealand register, which registers directors only.

The company announced on 25 August 2026 that the board is being refreshed through an orderly succession, with the three directors appointed in 2017 stepping down over time: Stephen Reindler retired on 1 September 2026, Christopher Ellis is to step down in 2027 once a replacement with sector experience is found, and Susan Paterson will not seek re-election at the end of her current term in 2027 and will stand down once a new chair is secured. Mr Deane is expected to stand for election at the 2026 annual meeting.

Recent officer changes

• 1 September 2026 – Cassandra Rose Crowley appointed director.
• 1 September 2026 – Timothy Hudson Deane appointed director.
• 1 September 2026 – Stephen Reindler ceased as director, his retirement brought forward from the annual meeting.

Data availability

The officer list previously held on this record was out of date and mixed roles. It showed Stephen Reindler as a serving director although he ceased on 1 September 2026; it omitted the chair, Susan Paterson, and the two directors appointed on 1 September 2026; and it listed Raffaella Del Prete with the title Chief Digital Officer, which is an executive management role and not a directorship. Chief Digital Officer is not a position recorded on the New Zealand Companies Register, and that entry should not be read as a board appointment.

Nationality is not published by the New Zealand Companies Register and is recorded as not disclosed; it is never inferred from a name. Directors’ dates of birth and residential addresses, which the New Zealand register publishes, are deliberately omitted here. Appointment and cessation dates are taken from the Companies Register entry for company number 8418 as shown on 24 September 2026, and are consistent with the company’s NZX announcement of 25 August 2026 and the FY26 annual report directory.

Group structure of Steel & Tube Holdings Limited

Steel & Tube Holdings Limited is the top entity of its group. Nothing sits above it: the FY26 financial statements state that the group comprises Steel & Tube Holdings Limited and its subsidiaries, no parent or ultimate holding company is disclosed, and no shareholder holds a controlling stake, the largest registered holding at 30 June 2026 being 14.31%. All subsidiaries listed below are New Zealand incorporated, wholly owned and have a 30 June balance date, per note E5 of the FY26 annual report.

New Zealand Steel Limited is a shareholder, not a group member: it held 14.31% of the ordinary shares at 30 June 2026 and is a substantial product holder. That holding does not place it above Steel & Tube Holdings Limited in the group structure.

Data availability

The linkage extract previously held on this record is partial. It showed only Steel & Tube Galvanising Limited, S & T Stainless Limited and Composite Floor Decks Holdings Limited beneath the company, while note E5 of the FY26 annual report lists seven subsidiaries, adding Composite Floor Decks Limited, Studwelders Limited, S & T Plastics Limited and Manufacturing Suppliers Limited. Five of the seven are described as non-trading.

New Zealand company numbers for the subsidiaries were not confirmed against the Companies Register for this entry and are shown as not verified. The Perry Metal Protection business acquired in the 2025 financial year does not appear as a separately named subsidiary in the FY26 subsidiary note. Ownership percentages and activities are as at 30 June 2026 and are taken from the audited consolidated financial statements.