CALIX LIMITED — Major Shareholding Notification 2022

May 9, 2022

Form 605

Corporations Act 2001

Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme Calix Ltd (CXL) ACN/ARSN 117 372 540 1. Details of substantial holder (1) Name Regal Funds Management Pty Ltd (RFM) ACN/ARSN (if applicable) 107 576 821 The holder ceased to be a substantial holder on 6/05/2022 The previous notice was given to the company on 22/03/2022 The previous notice was dated 18/03/2022

2. Changes in relevant interests Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of Person whose relevant Nature of change Consideration given in relation to Class (6) and number of Person's votes change interest changed (4) change(5) securities affected affected Refer annexure 1

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable) Nature of association NOT APPLICABLE 4. Addresses The addresses of persons named in this form are as follows: Name Address LEVEL 47 GATEWAY 1 MACQUARIE PLACE SYDNEY Kenny Ho NSW 2000 Signature print name Kenny Ho capacity Company Secretary sign here date 10/05/2022

4. Addresses

The addresses of persons named in this form are as follows:

Annexure 1

Changes in relevant interests

Date	Person whose relevant interest changed	Nature of Change	Consideration given in relation to change	Number of securities affected	Class of securities	Persons votes affected
21/03/2022	Regal Funds Management	Sell	344390.23	47489	Ordinary	47489
21/03/2022	Regal Funds Management	Sell	380620.70	51077	Ordinary	51077
22/03/2022	Regal Funds Management	Sell	507343.65	72428	Ordinary	72428
24/03/2022	Regal Funds Management	Sell	264431.81	33653	Ordinary	33653
24/03/2022	Regal Funds Management	Buy	623992.00	80000	Ordinary	80000
25/03/2022	Regal Funds Management	Sell	255658.56	32757	Ordinary	32757
28/03/2022	Regal Funds Management	Buy	367340.00	50000	Ordinary	50000
28/03/2022	Regal Funds Management	Sell	296324.00	40000	Ordinary	40000
30/03/2022	Regal Funds Management	Sell	529536.00	70000	Ordinary	70000
31/03/2022	Regal Funds Management	Sell	1091050.92	146844	Ordinary	146844
31/03/2022	Regal Funds Management	Buy	919692.83	123781	Ordinary	123781
31/03/2022	Regal Funds Management	Sell	1033959.03	138363	Ordinary	138363
1/04/2022	Regal Funds Management	Buy	63542.02	8286	Ordinary	8286
5/04/2022	Regal Funds Management	Sell	157248.07	20000	Ordinary	20000
6/04/2022	Regal Funds Management	Sell	157360.00	20000	Ordinary	20000
7/04/2022	Regal Funds Management	Sell	156469.14	20000	Ordinary	20000
8/04/2022	Regal Funds Management	Sell	156456.00	20000	Ordinary	20000
8/04/2022	Regal Funds Management	Sell	138015.33	17650	Ordinary	17650
11/04/2022	Regal Funds Management	Sell	164545.83	20000	Ordinary	20000
12/04/2022	Regal Funds Management	Sell	168946.90	20000	Ordinary	20000
13/04/2022	Regal Funds Management	Sell	166257.61	20000	Ordinary	20000
14/04/2022	Regal Funds Management	Sell	117913.29	13711	Ordinary	13711
19/04/2022	Regal Funds Management	Sell	200807.20	22000	Ordinary	22000
19/04/2022	Regal Funds Management	Sell	183093.21	20000	Ordinary	20000
20/04/2022	Regal Funds Management	Sell	276870.00	30000	Ordinary	30000
21/04/2022	Regal Funds Management	Sell	183867.18	20313	Ordinary	20313
22/04/2022	Regal Funds Management	Buy	169506.00	19710	Ordinary	19710
22/04/2022	Regal Funds Management	Buy	66326.98	7458	Ordinary	7458
22/04/2022	Regal Funds Management	Sell	43593.49	4842	Ordinary	4842
26/04/2022	Regal Funds Management	Sell	421411.20	48000	Ordinary	48000
27/04/2022	Regal Funds Management	Sell	31812.36	3707	Ordinary	3707
27/04/2022	Regal Funds Management	Sell	12712.35	1500	Ordinary	1500
28/04/2022	Regal Funds Management	Sell	255549.00	30000	Ordinary	30000
28/04/2022	Regal Funds Management	Sell	25730.60	3007	Ordinary	3007
28/04/2022	Regal Funds Management	Buy	51240.00	6000	Ordinary	6000
28/04/2022	Regal Funds Management	Sell	345684.00	40000	Ordinary	40000
28/04/2022	Regal Funds Management	Sell	189971.57	21960	Ordinary	21960
29/04/2022	Regal Funds Management	Sell	21135.66	2426	Ordinary	2426
29/04/2022	Regal Funds Management	Sell	261666.00	30000	Ordinary	30000
29/04/2022	Regal Funds Management	Sell	284182.56	32281	Ordinary	32281
2/05/2022	Regal Funds Management	Sell	135498.79	16249	Ordinary	16249

2/05/2022	Regal Funds Management	Sell	194141.15	22856	Ordinary	22856
3/05/2022	Regal Funds Management	Sell	130698.00	15000	Ordinary	15000
3/05/2022	Regal Funds Management	Sell	528300.00	60000	Ordinary	60000
4/05/2022	Regal Funds Management	Sell	108077.81	12650	Ordinary	12650
4/05/2022	Regal Funds Management	Sell	82748.75	9650	Ordinary	9650
5/05/2022	Regal Funds Management	Sell	121353.64	13872	Ordinary	13872
5/05/2022	Regal Funds Management	Sell	219190.00	25000	Ordinary	25000
5/05/2022	Regal Funds Management	Sell	65298.75	7500	Ordinary	7500
6/05/2022	Regal Funds Management	Sell	8558.88	1005	Ordinary	1005
6/05/2022	Regal Funds Management	Sell	266596.28	32975	Ordinary	32975