Bitcoin Holding Converted to Cash

Locate Technologies Limited (NZX: LOC) has sold its entire holding of 12.3 Bitcoin. The sale was completed after market on 30 October 2026 for proceeds of A$1,370,175.79 (approximately NZ$1,718,200), which are held in Australian dollars. The Group no longer holds any Bitcoin or other digital assets. The Board still sees long-term merit in Bitcoin. It decided to sell because of rising security risks to cryptographic assets, driven by the rapid progress of AI and by uncertainty over how Bitcoin will become quantum resistant. The Group recorded its first quarterly net profit as a listed company in Q1 FY27, and the Board considers it prudent to remove this risk from the balance sheet and keep management focused on the operating business. The proceeds will be held in cash while the Board considers how best to deploy them. The decision does not rule out holding Bitcoin in future. Please see attached for further information. This statement was authorised by the Board of Locate Technologies Limited. For further information, please contact: Steve Orenstein, Founder & CEO investors@locatetech.nz locatetech.nz