DXN LIMITED — AGM Information 2023

Nov 19, 2023

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ASX: DXN

20 November 2023

DXN Chairman’s Address

The Board of Directors of DXN Limited is newly formed, having come into posi�on over the last 6 months - for Mr Hannon and Mr Power and myself nearly 12 months ago.

Our objec�ves as a Board together with the CEO Ms Shalini Lagruta, is to reposi�on DXN to be a profitable and growing business with a focus on areas where it has a par�cular exper�se or speciality. To create increasing returns and capital growth for shareholders.

The Communica�ons and IT markets are extremely compe��ve and in order to prosper in this market, compe�tors need to be able to differen�ate themselves and provide products and services that are compelling for customers and in demand.

As such, we have embarked on a restructure and reposi�oning of the business, and we are well into this process.

It is our inten�on to exit the ownership and opera�on of data centres segment - whereby we own 3 facili�es today. We will only do this however where it makes sense where we receive reasonable returns for the facili�es to be sold. Two of the facili�es generate good returns however it is our view that the returns are not high enough for the capital invested. We also intend to recapitalise the balance sheet to put DXN in a strong posi�on financially going forward.

The provision of modular data centres is an area where DXN has a strong exper�se and a significant track record. As an Australian based designer and manufacturer of modular data

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centres, we believe we are well placed to compete both domes�cally and overseas par�cularly in the Asia Pacific region.

Our track record is extremely impressive with a list of blue-chip customers in Australia and offshore. This is an area where the Board and management believe we can truly excel as the increasing demands for more and more data and communica�ons, creates the need for rapid deployment of leading edge data centres in Australia, the Asia Pacific region and

I would like to thank our shareholders for their pa�ence and trust to date and also the management and staff for their dedica�on and hard work over the last 12 months.

I will now hand over to our CEO Ms Shalini Lagruta to provide a detailed overview of the opera�ons over the last 12 months as well as the strategy going forward.

Peter McGrath

Chair

Approved for release by the Board of DXN