FLC lockdown update

Tuesday August 31, 2021

FLC is deemed an essential business, and accordingly we could have kept the business fully operational throughout the lockdown.

We chose not to however and put the New Zealand operations on a two week pause. We took this decision to ensure our most at risk staff at Auckland could isolate at home, and also to provide clarity to the fleet. August is a low demand period in China, so this pause has had no material effect on the business performance.

We re-started the New Zealand operations on the 30th August. This stages the inventory well for supply into the improving market conditions of September.