DXN LIMITED — Capital/Financing Update 2023

Sep 21, 2023

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22nd September 2023

ASX Announcement ( ASX: DXN )

DXN Limited executes contract for a DXN Cable Landing Station

Highlights:

• DXN has signed a contract for the supply and installation of a Cable Landing Station (CLS) with the Government of Timor-Leste

• The Timor-Leste South Submarine Cable (TLSSC) project aims to construct a submarine cable connection between Díli (Timor-Leste) and the North-West Cable System (NWCS)which spans Darwin and Port Hedland.

• The TLSSC project depends on the cable landing infrastructure in Díli to provide a secure location for all the infrastructure that is required to terminate and operate the cable system.

DXN Limited (DXN or the Company), a prefabricated modular data centre specialist, is pleased to announce that it has entered into a contract to supply 1x Cable Landing Station with Government of Timor-Leste for a total contract value of ~USD$1.4m (A$2.1m).

DXN’s CEO Shalini Lagrutta said “DXN are delighted to be selected for this important nationbuilding project for the Democratic Republic of Timor-Leste. This is the country’s first international cable landing station which we are proud to be part of. The cable landing station will be prefabricated and built in Australia, exported to Dili and thereafter installed and commissioned for connection with the NWCS in Australia.”

Prefabrication will commence in DXN’s factory in Perth and the Cable Landing Stations expected to be delivered by April 2024.

This announcement covers DXN’s trading halt and recent suspension.

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

-ends-

For more information please contact:

Shalini Lagrutta

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:

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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

About Timor-Leste

Australia and Timor-Leste are close neighbours, with a shared history and strong people-topeople links. Australia has been at the forefront of international support for Timor-Leste since its independence in 2002 (diplomatic relations formally commenced on 20 May 2002), and remains Timor-Leste's largest development and security partner. Many Australians are actively engaged with Timor-Leste through Australian state, territory and local governments, non-government organisations, the private sector, learning institutions and friendship groups.

APPENDIX A

Material Contract Conditions with Pilbara Minerals

Term of Agreement	The agreement remains ongoing until completion of contract in accordancewith agreement.
Commercial Terms	Contract ~ $1.4m USD to design, prefabricate, build and install the CableLanding Station.Invoicing based on Progress PaymentsExpected delivery of solution by April 2024
Termination	The agreement is ongoing unless terminated for a material breach of thegeneral conditions by the Company.

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