On-Market Share Buyback Programme

20/04/2026 08:30 NZST, CORPACTP

Locate Technologies Limited (NZX: LOC) advises that it is commencing an on-market share buyback programme through the NZX Main Board.

The Company proposes to acquire up to a maximum aggregate of NZ$500,000 in purchase price and up to a maximum of 14,882,192 ordinary fully paid shares, whichever is reached first.

The programme will be conducted under section 60 of the Companies Act 1993, pursuant to clause 15 of the Company's constitution, and in accordance with NZX Listing Rule 4.14. It may run for up to 12 months from the date of this notice.

The Board has resolved that the buyback is an appropriate use of capital, reflecting its view that the current share price does not appropriately reflect the value of the Company's business, its assets, or its growth prospects.

The programme will be funded from existing cash reserves without compromising operational requirements or continued investment in the growth of the Locate2u, Zoom2u, and Shred2u business units.

Shares acquired under the programme will be cancelled upon acquisition, and the proportionate shareholding of remaining shareholders will increase accordingly.

The buyback will operate only during Permitted Periods under the Company's Securities Trading Policy and at times when the Company is not in possession of Material Information. The programme will commence within the next available Permitted Period following the date of this notice.

The Company reserves the right to suspend or terminate the programme at any time. Full details are set out in the attached announcement.