DXN LIMITED — Capital/Financing Update 2020

Sep 23, 2020

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24 September 2020

ASX Announcement

DXN Limited signs Connected Farms Master Agreement to supply multiple Modular EDGE Data Centres on a turnkey basis across Australia

Highlights:

• DXN has signed a Master Supply Agreement (MSA) with Connected Farms to supply fully engineered factory built prefabricated modular data centre for up to 15 sites across Australia

• The first Purchase order for c $1M under the agreement is for 2 sites in Queensland and New South Wales.

Pre-fabricated modular data centre specialist, DXN Limited (ASX:DXN) ( DXN or the Company ), is pleased to announce it has entered into an exclusive binding MSA with Connected Farms. The roll out of the additional 13 sites is expected to be completed over a period of approximately 18 months. Connected farms and DXN have worked on a standard design specific to connected farms requirements for this roll out that will enable speed of deployment each site will have its own order value and prices may vary between sites. Connected Farms Pty Ltd are an Australian-owned company and a Licenced Telecommunications Carrier which was formed to provide connectivity solutions to the agriculture industry. The company offers high quality broadband services to farmlands for voice, data and farming Internet of Things (IoT) applications. Part of their offering includes local edge micro datacentres that reduces latency in autonomous applications and allow better near farm data processing of all the various data sources such as IoT sensors and video feed. Following build out of the first Edge data centre, DXN will also be contracted by Connected Farms for annual maintenance and operations of the Edge data centre modules.

Matthew Madden, CEO, DXN Limited said “We are thrilled to be working with Connected Farms on this exciting Initiative enabling connectivity for the bush. DXN is excited to support Connected Farms and leverage our skills as a vertically integrated data centre company. Australia is the global leader in autonomous vehicles thanks to the large investment from our mining sector. Agriculture is the next market that will embrace autonomous vehicles and we are excited about helping another Australian company lead the way. With farmers continuing to adopt Agritech, agriculture is going to be one of the key growth industries for data”.

Growth in Edge data centres is just beginning with machine to machine communication now starting to drive the need for lower latency. Edge data centres reduce the latency requirements by bringing the infrastructure much closer to where it is required. DXN’s Australian built modular Edge data centres are designed to meet the harshest environmental requirements in Australia and globally and can be rapidly deployed and expanded to meet the growing needs of Connected Farms.

Tom Andrews, CEO at Connected Farms said “DXN Limited being Australian-owned and with local manufacturing based in Perth is the right fit to be a long term partner for Connected Farm’s business model. DXN has now proven themselves with multiple high-quality builds around the country and overseas and

DXN Limited ABN: 46 620 888 548

9 Mumford Place, Balcatta, Perth, Western Australia, 6021 W: dxn.solutions | T: 1300 328 239 | E: info@dxn.solutions

the ability to custom design and complement the Connected Farms business model is a winning formula for the partnership”

The agreement is subject to standard termination provisions for a contract of this nature.

-ends-

About Connected Farms

Connected Farms™ - Connected Farms Pty Ltd, an Australian company and Licenced Telecommunications Carrier, was formed to specifically provide connectivity solutions to the agriculture sector with the vision of enabling digital agriculture with three key areas of offering:

1. New or improved broadband to your farm office/ house

2. High quality high speed coverage solutions over your farmland to allow improved voice and data communications (and this coverage can also collect IoT data). Farm coverage, Fence to Fence™

3. Regional / local edge micro datacentres – to reduce latency in autonomous applications and allow better near farm data processing of all the various data sources such as IoT sensors and video feed.

We use a variety of technical solutions tailored to the farm’s particular requirements to achieve these – because a grower on a broadacre operation has much different needs to a farmer running cattle on their paddocks. We can also cover multiple locations in diverse areas / states. Our skill sets in providing rural and regional coverage solutions have been well proven with many decades of collective experience and we are harvesting these skills and experience into the Connected Farms™ offering.

About DXN Limited

DXN Limited designs, builds, owns and operates data centres. Offering integrated, customised and tailored solutions to clients, DXN provides businesses with the option of delivering solutions to site through containerised modules, or space in DXN’s modular colocation facilities to suit technical specifications and operational requirements. From a single rack in the colocation facilities through to fully customised Edge Infrastructure, DXN can deliver a range of solutions to meet modern data centre requirements. DXN has achieved an industry first and become the first modular data centre developer in the world to receive both Uptime Institute Tier-Ready III and Tier-Ready IV design review awards. For more https://dxn.solutions

For more information please contact:

Matthew Madden, CEO

T +61 1300 328 239

E: investorrelations@dxn.solutions

ASX Release authorised by the Board

DXN Limited ABN: 46 620 888 548

9 Mumford Place, Balcatta, Perth, Western Australia, 6021 W: dxn.solutions | T: 1300 328 239 | E: info@dxn.solutions