HARVEST TECHNOLOGY GROUP LTD — Capital/Financing Update 2026

May 26, 2026

Announcement to ASX
ASX Code: HTG
27 May 2026

Harvest announces $6.5m Placement to accelerate global defence and autonomous systems opportunities

Highlights

• Harvest announces a two-tranche Placement raising $6.5 million (before costs) to institutional and sophisticated investors.
• $3 million will be raised in Tranche 1 and $3.5 million in Tranche 2 is subject to shareholder approval at a forthcoming General Meeting.
• Funds raised from the placement will position Harvest well for its next growth phase and strengthen Harvest's balance sheet.

Harvest Technology Group Limited (ASX: HTG) ("Harvest" or "the Company") is pleased to announce it has received firm commitments for a two-tranche placement of new shares to investors to raise A$6.5 million in cash before costs ("Placement").

Harvest's Executive Chair, Jeff Sengelman, said:

"We are very pleased with the support received for the Placement from high-quality institutional and sophisticated investors. The funds raised will strengthen Harvest's balance sheet and support the Company's execution of its Go-to-Market Defence Strategy, including defence readiness and compliance initiatives, expansion of Nodestream and general working capital. The Board thanks existing shareholders for their continued support and welcomes new shareholders to the Company."

Placement Overview

Harvest has received firm commitments from investors for a two-tranche Placement of A$6.5 million at a price of A$0.01 per share ("Placement Price"). The Placement Price represents a nil discount to the last closing price of Harvest shares on 22 May 2026 and a 9.8% discount to the prior 15-trading day volume weighted average trading price.

The Placement comprises:

• the unconditional placement to raise A$3 million through the issue of 300,000,000 New Shares, comprising 179,812,278 New Shares to be issued using the Company's available placement capacity under ASX Listing Rule 7.1 and 120,187,722 New Shares to be issued using the Company's available placement capacity under ASX Listing Rule 7.1A ("Tranche 1"); and

7 Turner Avenue, Bentley WA 6102 P: +61 8 6370 6370
ABN: 77 149 970 445

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Announcement to ASX
ASX Code: HTG

• the conditional placement to raise A$3.5 million through the issue of 350,000,000 New Shares subject to shareholder approval that will be sought at a General Meeting of the Company to be held in July 2026 ("Tranche 2").

Tranche 1 of the Placement is expected to settle on or about 2 June 2026 with New Shares to be issued on or around 3 June 2026. Subject to shareholder approval, Tranche 2 of the Placement is expected to settle shortly after the General Meeting is held in July 2026.

The funds received by the Company under the Placement are to be utilised for the following purposes:

• Go-to-Market Defence Strategy;
• Defence readiness and compliance initiatives;
• Expansion of Nodestream;
• Corporate and operational working capital; and
• Costs of the Placement.

Alpine Capital Pty Ltd ("Alpine Capital") acted as Lead Manager. The Lead Manager will receive a cash fee of 6% of the funds raised as well as up to 120,000,000 unlisted options (Lead Manager Options), pursuant to the terms of the mandate entered into between the parties.

Terms and conditions of the Lead Manager Options are outlined in Appendix A.

The Lead Manager Options will be issued subject to shareholder approval, at a general meeting expected to be held in July 2026.

An Appendix 3B providing more detail follows for immediate release.

Authorised for release by the Board of Harvest Technology Group Limited.

-Ends-

Corporate & media enquiries, please contact:
Email: investor@harvest-tech.com.au

Investor enquiries, please contact:
Mr George Lazarou
Company Secretary
Tel: +61 8 6370 6370
Email: investor@harvest-tech.com.au

7 Turner Avenue, Bentley WA 6102 P: +61 8 6370 6370
ABN: 77 149 970 445

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Announcement to ASX
ASX Code: HTG

About Harvest Technology Group

Harvest Technology Group Limited (ASX: HTG) is a global leader in network optimised remote operations that deliver real-time remote control, communication, automation, and monitoring capabilities. Headquartered in Perth, Australia, the group of companies is revolutionising remote field services with ultra-low bandwidth Network Optimised Livestreaming solutions that enable customers to stay connected to operations and personnel anywhere in the world while utilising just a fraction of existing bandwidth resources.

To learn more please visit: https://harvest.technology/

If you would like to receive the HTG Insights Newsletter for future updates, please visit our website and subscribe at the bottom of the page.

7 Turner Avenue, Bentley WA 6102 P: +61 8 6370 6370
ABN: 77 149 970 445

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Announcement to ASX
ASX Code: HTG

Appendix A - Terms and Conditions of Options

The terms and conditions of the Options are as follows:

1. (Entitlement): Each Option entitles the holder to subscribe for one Share upon exercise of the Option.
2. (Expiry Date): Each Option will expire at 5:00pm (WST) on the second anniversary of their date of issue (Expiry Date).
3. (Exercise Period): The Options are exercisable at any time on or prior to the Expiry Date.
4. (Exercise Price): The Options are exercisable at $0.02 each (Exercise Price).
5. (Quotation of the Options): The Company will not apply for quotation of the Options on any securities exchange.
6. (Transferability): The Options are not transferable.
7. (Notice of Exercise): The Options may be exercised by notice in writing to the Company in the manner specified on the Option certificate (Notice of Exercise) and, if applicable, payment of the Exercise Price for each Option being exercised in Australian currency by electronic funds transfer or other means of payment acceptable to the Company.

Any Notice of Exercise of an Option received by the Company will be deemed to be a notice of the exercise of that Option as at the date of receipt of the Notice of Exercise and, if applicable, the date of receipt of the payment of the Exercise Price for each Option being exercised in cleared funds (Exercise Date).

1. (Timing of issue of Shares on exercise): Within 5 Business Days after the Exercise Date the Company will:

(a) allot and issue the number of Shares required under these terms and conditions in respect of the number of Options specified in the Notice of Exercise and for which, if applicable, cleared funds have been received by the Company; and
(b) if required, give ASX a notice that complies with section 708A(5)(e) of the Corporations Act.

1. (Restrictions on transfer of Shares): If the Company is unable to give ASX a notice that complies with section 708A(5)(e) of the Corporations Act, Shares issued on exercise of the Options may not be traded and will be subject to a holding lock until 12 months after their issue unless the Company, at its sole discretion, elects to issue a prospectus pursuant to section 708A(11) of the Corporations Act.
2. (Timing of application for quotation) If admitted to the official list of ASX at the time, the Company must apply for official quotation on ASX of Shares issued pursuant to the exercise of the Options within such time period required by the Listing Rules.

7 Turner Avenue, Bentley WA 6102 P: +61 8 6370 6370
ABN: 77 149 970 445

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Announcement to ASX
ASX Code: HTG

1. (Shares issued on exercise): Shares issued on exercise of the Options rank equally with the then issued shares of the Company.

2. (Takeovers prohibition):

(a) the issue of Shares on exercise of the Options is subject to and conditional upon the issue of the relevant Shares not resulting in any person being in breach of section 606(1) of the Corporations Act; and

(b) the Company will not be required to seek the approval of its members for the purposes of item 7 of section 611 of the Corporations Act to permit the issue of any Shares on exercise of the Options.

1. (Reconstruction of capital): If at any time the issued capital of the Company is reconstructed, all rights of an Option holder are to be changed in a manner consistent with the Corporations Act and the Listing Rules at the time of the reconstruction.

2. (Participation in new issues): There are no participation rights or entitlements inherent in the Options and holders will not be entitled to participate in new issues of capital offered to Shareholders during the currency of the Options without exercising the Options.

3. (Entitlement to dividends): The Options do not confer any entitlement to a dividend, whether fixed or at the discretion of the directors, during the currency of the Options without exercising the Options.

4. (Entitlement to capital return): The Options do not confer any right to a return of capital, whether in a winding up, upon a reduction of capital or otherwise, and similarly do not confer any right to participate in the surplus profit or assets of the Company upon a winding up, in each case, during the currency of the Options without exercising the Options.

5. (Adjustments for reorganisation): If there is any reorganisation of the issued share capital of the Company, the rights of the Option holder will be varied in accordance with the Listing Rules.

6. (Adjustment for bonus issues of Shares): If the Company makes a bonus issue of Shares or other securities to existing Shareholders (other than an issue in lieu or in satisfaction of dividends or by way of dividend reinvestment):

(a) the number of Shares which must be issued on the exercise of an Option will be increased by the number of Shares which the Option holder would have received if the Option holder had exercised the Option before the record date for the bonus issue; and

(b) no change will be made to the Exercise Price.

1. (Voting rights): The Options do not confer any right to vote at meetings of members of the Company, except as required by law, during the currency of the Options without first exercising the Options.

2. (Constitution): Upon the issue of Shares on exercise of the Options, the holder agrees to be bound by the Company's constitution.

7 Turner Avenue, Bentley WA 6102 P: +61 8 6370 6370
ABN: 77 149 970 445