DXN LIMITED — Capital/Financing Update 2021

Mar 28, 2021

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29[th] March 2021

ASX Announcement

DXN Limited signs two Modular Data Centre orders - with Boeing Defence Australia and Covalent Lithium Pty Ltd for builds in Western Australia worth ~$1 million

Highlights:

• DXN has signed a supply agreement with Boeing Defence Australia to design, prefabricate and build a fully engineered Modular Data Centre (DC) in a contract valued ~$700,000.

• DXN has signed a limited Notice of Award Letter with Covalent Lithium Pty Ltd and received a purchase order to design, prefabricate and build a fully engineered Modular Data Centre for ~$325,000 for delivery to Mt Holland, Western Australia (WA)

Pre-fabricated modular data centre specialist, DXN Limited (ASX:DXN) ( DXN or the Company ), is pleased to announce that it has entered into two separate agreements to supply fully prefabricated and engineered factory-built modular data centres to Boeing Defence Australia ( BDA ) as well as Covalent Lithium Pty Ltd ( Covalent )

BDA is a wholly owned subsidiary of The Boeing Company within the Boeing Defence, Space & Security business unit, and is one of the leading aerospace enterprises globally.

Covalent is the manager appointed by a joint venture between subsidiaries of Sociedad Química y Minera de Chile S.A. and Wesfarmers Limited to develop and operate the Mount Holland Lithium Project.

Matthew Madden, CEO, DXN Limited said “DXN is delighted to be selected as a partner to both BDA and Covalent. The DXN team continue to develop products and services that have high demand and acceptance in the mining industry and this new customer is further testament towards our strategic focus. DXN continues to demonstrate that we can break into new market segments such as defence, space and security with companies like Boeing where high quality critical communications infrastructure like modular data centres are required to be on-site. DXN is well positioned to support the needs of critical infrastructure across multiple segments.

For material terms of the agreements 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 Boeing Defence Australia

Boeing Defence Australia ( BDA ), a wholly-owned subsidiary of The Boeing Company within the Boeing Defence, Space & Security business unit, is one of Australia’s leading aerospace enterprises.

BDA has been an integral part of the region's defence industry and the partner of choice for some of Australia's largest and most complex defence projects.

The company’s 2,000 employees at 14 Australian sites and three international locations bring the ‘Best of Boeing’ products and services into the Australian market to provide a range of valued, through-life service solutions to its customers.

BDA’s strength lies in its world-class, innovative solutions for the support, maintenance, modification and upgrade of Boeing and non-Boeing aircraft; military aircrew training design and delivery; and the design, development and support of Command, Control, Computers, Communications, Intelligence, Surveillance and Reconnaissance (C4ISR) solutions.

About Covalent Lithium

Covalent Lithium Pty Ltd is the manager appointed by a joint venture between subsidiaries of Sociedad Química y Minera de Chile S.A. and Wesfarmers Limited to develop and operate the Mount Holland Lithium Project, which will be a unique, fully integrated producer of battery quality lithium hydroxide in Western Australia. Wesfarmers Limited will leverage the expertise and chemical processing capabilities within Wesfarmers Chemicals, Energy and Fertilisers, part of the Industrials Division, to support the Project.

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.

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

DXN Limited ABN: 46 620 888 548

APPENDIX A

Material Conditions with Boeing Defence Australia

Term of Agreement	The agreement remains ongoing until terminated in accordance with the Termination clause below.
Commercial Terms	• Lump sum contract ~$700,000 to design and prefabricate a fully engineered data centre module; • Invoicing at completion of key milestones (Design, Factory Testing, Site Acceptance); and • Expected delivery of solution by end of June 2021.
Termination	Without limiting any of Boeing Defence Australia’s other rights under the agreement, Boeing Defence Australia may: a) at any time, for its sole convenience, and for any reason, by written notice to DXN terminate the agreement effective from the time and date stated in Boeing Defence Australia’s notice; and b) thereafter, at its absolute discretion, complete the uncompleted part of Works Under Contract or the Works either itself or by engaging other contractors to carry out any uncompleted part of the Works Under Contract or the Works. Upon receipt of a notice of termination, DXN must cease all activities in relation to the agreement and use all reasonable endeavours to mitigate any costs or losses which it may incur in connection with those activities under the agreement.

Material Conditions with Covalent Lithium

Term of Agreement	The agreement remains ongoing until terminated in accordance with the Termination clause below.
Commercial Terms	• Lump sum contract ~$325,000 to design and prefabricate a fully engineered data centre module; • Invoicing at completion of key milestones (Design, Factory Testing, Site Acceptance); and • Expected delivery of solution by July 2021.
Termination	Covalent Lithium may terminate the agreement at any time for its convenience and without cause by providing written notice to DXN. Upon receipt of a notice of termination, DXN must cease all activities in relation to the agreement and use all reasonable endeavours to mitigate any costs or losses which it may incur in connection with those activities under the agreement.

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