HIGHCOM LIMITED — Capital/Financing Update 2026

Mar 9, 2026

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10 March 2026

ASX Announcement

Results of Share Purchase Plan

Key highlights:

• The Share Purchase Plan ( SPP ) offer to existing eligible shareholders ( Eligible Shareholders ) raises $794,500.

• Proceeds from the SPP will be added to the $7m raised by the Placement and applied to driving sales growth and product manufacturing.

HighCom Limited ( ASX: HCL ) ( HighCom or the Company ) is pleased to announce the completion of its SPP, which closed at 5:00 pm on Tuesday, 3 March 2026.

80 applications were received from the Company’s 2,605 Eligible Shareholders, with the Company receiving total applications for 3,972,500 new fully paid ordinary shares ( New Shares), raising $794,500.

In accordance with the terms set out in the SPP Booklet released on 17 February 2026, the issue price of the New Shares is $0.20. All subscriptions received were accepted without scale-back, and no monies were refunded. 3,972,500 New Shares will be issued pursuant to Exception 5 of ASX Listing Rule 7.2.

Proceeds from the SPP add to the $7m of commitments received under the two-tranche share placement announced on 11 February 2026 and together will be allocated to sales and product funding, capital expenditure, including upgrades and tooling for the XTclave®, operational growth initiatives, and costs associated with the capital raising.

The New Shares will be issued today, with quotation expected to commence from tomorrow, the 11th of March.

The Board thanks shareholders who participated in the SPP.

This ASX announcement has been authorised for release by the Board.

ENDS

For General & Media Enquiries:

Mr Geoff Knox

Executive Chairman E: investors@highcom.group

HighCom Limited | ABN 90 103 629 107 | 3 Faulding Street, Symonston, ACT 2609, Australia | Telephone: +61 2 6163 5588

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About HighCom Limited

HighCom Group (ASX:HCL) is comprised of HighCom Ltd (Australia), and its two distinct businesses – HighCom Armor & HighCom Technology.

HighCom Armor designs, manufactures, and supplies global military, law enforcement, and first responder customers with world-class, advanced personal protection ballistic products and solutions for Body Armour, Ballistic Helmets, and Composite Armour Panels & Platform Structures.

HighCom Technology as a technology integrator, supplies Australian Defence and Security Agencies with world-leading Small/Medium Uncrewed Arial Systems (SUAS) and Sensor Payloads, and provides local Program, Project and Engineering Management, Systems Integration, Maintenance, Composite Repairs, and Logistics Support Services.

Learn more about HighCom: www.highcom.group

HighCom Limited | ABN 90 103 629 107 | 3 Faulding Street, Symonston, ACT 2609, Australia | Telephone: +61 2 6163 5588