Capital Change Notice

20 December 2022 Capital Change Notice Rakon Limited (NZX:RAK) provides the attached capital change notice pursuant to NZX listing rule 3.13.1. This notice relates to the issue of share rights in respect of 400,931 ordinary shares to key employees. The share rights are being issued pursuant to the Rakon Limited Long Term Incentive Plan. -Ends- Contact: Investors Sinan Altug Chief Executive Officer +64 21 371 567 Anand Rambhai Chief Financial Officer +64 21 542 287 www.rakon.com About Rakon Rakon is a global high technology company and a world leader in its field. The company designs and manufactures advanced frequency control and timing solutions. Its three core markets are Telecommunications, Positioning and Space and Defence. Rakon's products are found at the forefront of communications where speed and reliability are paramount. Its products create extremely accurate electric signals which are used to generate radio waves and synchronise time in the most demanding communication applications. Rakon has three manufacturing plants, six research and development centres, and sixteen customer support offices worldwide. Founded in Auckland in 1967, Rakon is proud of its New Zealand heritage. It is a public company listed on the New Zealand stock exchange, NZX, ticker code RAK. End CA:00404382 For:RAK Type:SECISSUE Time:2022-12-20 08:30:31