2009 Reece Australia AGM

November 2, 2009

After this heavy combat at the 2008 Reece AGM, it was a far more pleasant experience dealing with the billionaire Wilson family in 2009. Have a listen to how the board of very successful but shy plumbing supplies business deals with shareholder questions.

What is the sensitivity of our earnings around the dollar and is there any hedging in place?

Tell us about the board review process?

Will Bruce Wilson serve a full term and is there generational change planned?

Does former auditor Ron Pitcher have any type of association with the current Pitcher Partners auditor?

Are you still paying the Wilsons too much cash?

Why bother with Computershare? How do you service Perpetual? And final defence from the Wilsons