Takeover update

19/03/2026 15:16 NZDT, TRANSACT

19 March 2026

Takeover update

On 9 February 2026, Bourns, Inc. (Bourns) made a full takeover offer to acquire all of the equity securities in Rakon Limited (NZX:RAK), being ordinary shares and certain unlisted employee share rights, for $1.55 per equity security (the Offer). The Independent Directors recommended in the Target Company Statement, dated 23 February 2026, that shareholders accept the Offer.

On 9 March 2026, Bourns gave notice under the Takeovers Code that it had extended the offer period for the Offer to 11.59pm on Monday 13 April 2026.

Subject to completion of the audit of Rakon’s FY26 results, Rakon expects to deliver Underlying EBITDA(1) for FY26 in the lower half of its $15 – 24 million guidance.

The Offer still remains conditional on various matters (including approval under the Overseas Investment Act, receipt of regulatory approval under the French Monetary and Financial Code and satisfaction or waiver of the 90% minimum acceptance condition).

As at end of day 18 March 2026, Bourns has received acceptances under the Offer in respect of 72.08% of the Rakon shares.

Shareholders are encouraged to seek professional financial, taxation or legal advice if they have any questions in respect of the Offer.

Rakon will continue to keep shareholders informed.

For media enquiries contact: emmahart@hpmedia.com +64 220710551

Announcement authorised by:

Christopher Swasbrook (Independent Director) and Greg Barclay (Independent Director)

(1) Non-GAAP disclosures: Refer to note 4 of the FY2025 consolidated financial statements for an explanation of how ‘Non GAAP Financial Information’ is used, including a definition of ‘Underlying EBITDA’ and reconciliation to net profit after tax.