CODAN LIMITED | ANN 97 007 590 605

Technology Park, 2 Second Avenue, Mawson Lakes, SA 5095, Australia

PO Box: 35 Salisbury South, SA 5106, Australia

6 May 2026

Company Announcements Office
Australian Securities Exchange
Level 4
20 Bridge Street
SYDNEY NSW 2000

Dear Sir/Madam

Macquarie Conference Presentation

Please find attached a copy of Codan Limited’s Macquarie Conference presentation dated 6 May 2026 for release to the market.

Yours faithfully

Daniel Widera
Company Secretary
On behalf of the Board

This announcement was authorised for release to the market by the Board of Directors.

Codan is a technology company that develops robust technology solutions to solve customers’ communications, safety, security and productivity problems in some of the harshest environments around the world.

FOR ADDITIONAL INFORMATION, PLEASE CONTACT:-

Michael Barton
Company Secretary & CFO
Codan Limited
(08) 8305 0392

Kayi Li
Deputy CFO
Codan Limited
(08) 8305 0392

MINELAB
DTC
A CODAN COMPANY
ZETRON
+61 (0)8 8305 0311
MINELAB Electronics, DTC, and Zetron are members of Codan Limited

CODAN

Macquarie Presentation

Codan Limited

6th May 2026

Innovation

wherever you are

IMPORTANT NOTICE AND DISCLAIMER

Disclaimer

This presentation has been prepared by Codan Limited (ABN 77 007 590 605) (Codan). The information contained in this presentation is for information purposes only and is not investment, financial product, legal or tax advice.

This presentation contains summary information about the current activities of Codan and its subsidiaries. The information in this presentation does not purport to be complete nor does it purport to contain all the information that a prospective investor may require in evaluating a possible investment in Codan. This presentation should be read in conjunction with Codan's other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange (ASX), which are available at www.asx.com.au.

Statements in this presentation are made only as of the date of this presentation unless otherwise stated and the information in this presentation remains subject to change without notice. Codan is not responsible for providing updated information to any prospective investors.

Past performance information given in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance. The historical information in this presentation is, or is based upon, information that has been released to the market. For further information, please see past announcements released to ASX.

This presentation may contain forward-looking statements with respect to the financial condition, results of operations, business of Codan and certain plans and objectives of the management of Codan. Actual outcomes may differ materially from forward-looking statements. Forward-looking statements, opinions and estimates provided in this presentation are likely to involve uncertainties, assumptions, contingencies and other factors. As a result, unknown risks may arise, many of which are outside the control of Codan. Forward-looking statements including projections, guidance on future earnings and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. Codan disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

Should you have any specific queries in respect of this disclaimer please contact Codan directly.

CODAN

Codan is a global group of innovative, technology companies.

We are focused on transforming lives through critical technologies.

And delivering solutions across communication, detection and connection.

CORE BRANDS
Innovative lifesaving, mission critical communications and detection technology

DTC
A CODAN COMPANY
Mission-critical communications technologies

ZETRON
a Codan company
First-choice integrated technologies for public safety and critical infrastructure

MINELAB
Market-leading detection solutions

CODAN
4

TRADING UPDATE

Market conditions remain supportive across both Communications and Metal Detection

The Group is currently trading above expectations in 2H FY26¹, with both Communications and Metal Detection continuing to be supported by favourable market conditions. Looking ahead to full year FY26:

Communications revenue growth expected at the top end of the 15% to 20% range, reflecting:
strong demand from defence customers for unmanned systems, supported by ongoing geopolitical tensions; and
Zetron 2H FY26 revenue expected to be broadly in line with 1H FY26
Communications segment profit margin expected to achieve 30% for FY26, driven by strong revenue growth combined with operating leverage
Minelab 2H FY26 revenue to-date tracking ahead of strong 1H FY26 performance, supported by favourable gold price and recent successful product releases
In summary, the Group provided the following FY26 guidance:
EBIT of approx. $235 million; and
NPAT of approx. $170 million
Both measures represent growth of greater than 60% versus FY25.
Announced to ASX on 29 April 2026.