DXN LIMITED — Capital/Financing Update 2021

Sep 29, 2021

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30 September 2021

ASX Announcement

DXN Limited wins a significant contract with Pan-African data centre operator wingu.africa for ~AU$3.27 million

Highlights:

• DXN will build and supply two prefabricated modular Edge Data Centres (DC) for sites in Ethiopia and Tanzania

• DXN will supply a subsea Cable Landing Station (CLS) for a site in Somaliland

• The total contract value is ~US$2.35 million (~AU$3.27 million)

Pre-fabricated modular data centre specialist, DXN Limited (ASX: DXN) (“ DXN” or the “Company” ), is pleased to announce it has entered into three separate contracts to supply modular Edge DC solutions and a modular cable landing station for a total value of ~US$2.35m (~AU$3.27 million) with pan-African carrier neutral data company wingu.africa.

The turnkey solutions will be deployed to sites in Ethiopia, Tanzania and Somaliland.

Wingu.africa is the first carrier and cloud neutral data center group in East Africa. Wingu.africa has operating expertise and experience with data centre facilities and services in key markets such as Djibouti and Ethiopia. Wingu.africa is backed by leading financial investors with deep sector and investing experience in Africa.

DXN also announced a cable landing station deployment in Palau on 28 September 2021 for ~AU$1.1 million. This brings total modular sales for September to ~AU$4.37 million.

Matthew Madden, CEO, DXN Limited said “This multi-country modular edge data centre and CLS project in East Africa is another example of why DXN’s modular prefabricated Edge DC solution has a proven product-market fit for developing markets. With only 60% of the global population connected to highspeed Internet the opportunity in Africa and SE Asia is expected to continue to grow. DXN’s high quality modular Edge data centres continues to expand its global reach with deployments now in 13 countries providing a platform for future export growth.”

For material terms of the agreement please refer to Appendix A.

-ends-

DXN Limited ABN: 46 620 888 548

5 Parkview Drive, Sydney Olympic Park, Sydney, NSW 2127 W: dxn.solutions | T: 1300 328 239 | E: info@dxn.solutions

About wingu.africa

wingu.africa, East Africa’s first multi-country carrier-neutral data centre group plans to extend its reach beyond Djibouti and Nairobi through new data centre builds and acquisitions. In order to satisfy the explosive demand for carrier-neutral data centres, the group intends to make significant additional investment in capacity such that it is present in at least seven key East African countries within the coming three years. The group is founded and owned by the executive management team of the Djibouti Data Center SARL (DDC). DDC is a commercially successful data centre located in Djibouti, the most connected location in Africa. As part of its regional growth strategy, wingu.africa has entered into a strategic partnership with Kenya’s Safaricom. wingu.africa’s objective is to provide customers with a single point of contact for the region and immediately take advantage of its existing operations in Djibouti and Nairobi. A core element in this seamless connectivity is the establishment of internet exchanges in each market, with the successful and pioneering Djibouti Internet Exchange (the DjIX), located at the DDC, the first of these.

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

5 Parkview Drive, Sydney Olympic Park, Sydney, NSW 2127 W: dxn.solutions | T: 1300 328 239 | E: info@dxn.solutions

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APPENDIX A

Material Conditions with wingu.africa

Term of Agreement	The agreement remains ongoing until terminated in accordance with standard Termination clauses.
Commercial Terms	Contract ~US$2.35 million or ~AU$3.27 million to design, prefabricate and build two modular edge data centre solution as well as a cable landing station (CLS); Invoicing at completion of key milestones (Contract Signing, Procurement and Shipping to Port); and Expected delivery of solution by January 2022.
Termination	Each Party may, by written notice to the other Party, terminate the Agreement with immediate effect if: (i) the other Party has committed a material breach of the Agreement and has not rectified the same within thirty (30) days of receipt of a written notice to that effect; or (ii) the other Party’s assets become the subject of an insolvency proceeding, or the other Party goes into liquidation, suspends payment of its debts or can otherwise be deemed to be insolvent. Termination for any reason will not discharge wingu.africa from payment of any sums already accrued at the date of termination.

DXN Limited ABN: 46 620 888 548

5 Parkview Drive, Sydney Olympic Park, Sydney, NSW 2127 W: dxn.solutions | T: 1300 328 239 | E: info@dxn.solutions