Appointment of new Director – Keith Watson

21 September 2018 RAKON LIMITED (NZX:RAK) Appointment of new Director to the Rakon Board Rakon Limited ('Rakon') today announces the appointment of Robert Keith Watson (Keith Watson) to its Board as an Independent Director. Rakon Chair Bruce Irvine said: "We are delighted to appoint Keith as an Independent Director to the Board of Rakon. Keith is a professional director and has substantial experience in the technology and engineering sectors and will bring a diversity of skills to the Board. His expertise and experience complements those of the existing Board members. I am looking forward to working with Keith as we drive the agreed strategic plan for the company forward." Mr Watson is a Chartered Member of the Institute of Directors in New Zealand and has over 30 years' experience in senior executive roles including positions with Hewlett Packard in North America, Asia and New Zealand. He was Managing Director of Hewlett Packard, New Zealand from 2004 to 2016. He has governance, management and leadership experience in companies across the Asia Pacific, Americas, Central Europe, UK, Australia and New Zealand. Mr Watson is currently a Director of the New Zealand Institute of Economic Research (NZIER), Working Assets Group companies, Cranleigh Forests Limited and Dovedale Forests Limited. He has previously chaired Opus International Consultants Limited and is a past Board member of the New Zealand Technology Industry Association (NZTech). The appointment increases Rakon's Board to six Directors and raises the number of Independent Directors to four. A new Director was sought following the retirement of Bryan Mogridge as Chair in August and Mr Irvine's subsequent change in role from Director to Chair. Mr Watson has been appointed under a casual vacancy in accordance with Rakon's Constitution and will put himself forward for election by shareholders at the next Annual Shareholders' Meeting. A copy of Mr Watson's 'Acknowledgement of Duty of Compliance with NZX Requirements' is also attached. -ends- Contact: Simon Bosley Chief Financial Officer +64 9 571 9206 simon.bosely@rakon.com Media Enquiries: Louise Howe (Media Liaison) +64 21 206 0985 www.rakon.com End CA:00324207 For:RAK Type:GENERAL Time:2018-09-21 08:55:12