hydrix

ASX Announcement

29 May 2026

Investor Presentation - Hydrix Defence: Strategic Growth Plan

Hydrix Limited (ASX: HYD) (Hydrix or the Company) is pleased to attach an investor presentation titled Hydrix Defence Strategic Growth Plan.

The establishment of Hydrix Defence Pty Ltd as a subsidiary entity reflects the Company's increasing strategic focus on sovereign and advanced defence technology markets, building on Hydrix's long-standing expertise in the development of complex, mission-critical and safety-critical systems across medical, industrial, and other high-reliability technology sectors.

The Australian defence sector continues to experience significant investment and capability expansion across advanced technologies, autonomous systems, electronic systems, and sovereign industrial capability initiatives. Hydrix believes its multidisciplinary engineering capabilities, experience in regulated and high-reliability product development, and established team expertise position the Company well to participate in these evolving markets.

Recent defence-related project announcements further reflect the Company's expanding participation in this sector and support the continued development of Hydrix Defence as a strategic growth initiative for the broader Hydrix group. Hydrix remains committed to its established MedTech and advanced technology activities while selectively expanding its participation in defence-related programs and opportunities.

The attached presentation provides broader strategic and market context regarding the market drivers, capability foundations, and long-term rationale supporting this initiative.

This announcement is authorised for release by the Board of Directors of Hydrix Limited.

For more information, please contact:

Hydrix Enquiries:
Alan Morris
Marketing Director
Hydrix Ltd
[email protected]
+61 3 9550 8100

Media Enquiries:
Rod North
Managing Director,
Bourse Communications
[email protected]
+61 3 9510 8309

Investor Enquiries:
Niv Dagan
Executive Director,
Peak Asset Management
[email protected]
M 0402 912 198

About Hydrix Limited

Hydrix Limited (ASX: HYD) operates across mission-critical and safety-critical technology markets through three business segments: Services, providing advanced embedded systems engineering and product development across medtech and defence sectors; Ventures, investing in aligned technology companies; and Medical, focused on bringing innovative cardiovascular and connected healthcare technologies to market. www.hydrixltd.com

HYDRIX Limited | ASX:HYD
ACN 060 369 048
hydrixltd.com | 30-32 Compark Circuit Mulgrave VIC 3170 Australia
29 May 2026 | 1

Hydrix

Hydrix Defence: Strategic Growth Plan

Mission-critical development for sovereign and advanced global technology markets

Hydrix | May 2026

2 | Commercial in confidence

hydrix

Disclaimer

The material in this presentation has been prepared by Hydrix Limited ("Hydrix") ACN 060 369 048 and is general background information about Hydrix's activities current at the date of this presentation. The information is given in summary form and does not purport to be complete. Information in this presentation, including forecast financial information should not be considered as advice or a recommendation to investors or potential investors and does not take into account investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional advice when deciding if an investment is appropriate.

Persons needing advice should consult their stockbroker, solicitor, accountant or other independent financial advisor. The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe such restrictions. This presentation does not constitute, or form part of, an offer to sell or the solicitation of an offer to subscribe for or buy any securities, nor the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issue or transfer of the securities referred to in this presentation in any jurisdiction in contravention of applicable law.

Certain statements made in this presentation are forward-looking statements. These forward-looking statements are not historical facts but rather are based on Hydrix's current expectations, estimates and projections about the industry in which Hydrix operates, and beliefs and assumptions. Words such as "anticipates", "expects", "intends", "plans", "believes", "seeks", "estimates", and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the control of Hydrix, are difficult to predict and could cause Hydrix results to differ materially from those expressed or forecasted in the forward-looking statements. Hydrix cautions investors and potential investors not to place undue reliance on these forward-looking statements, which reflect the view of Hydrix only as of the date of this presentation. The forward-looking statements made in this presentation relate only to events as of the date on which the statements are made. Hydrix will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this presentation except as required by law or by any appropriate regulatory authority.

hydrix

Hydrix is an Australian advanced engineering company specialising in the development of complex, safety-critical and mission-critical systems across global markets.

☐ Positioned for strong growth in sovereign defence, autonomous systems, counter-UAS, and strategic IP opportunities
☐ More than 20 years of advanced product development
☐ Existing revenue streams from US, Europe and APAC
☐ Strategic positioning with multidisciplinary engineering capability
☐ Embedded systems, RF electronics, sensing and systems integration
☐ Proven delivery of highly regulated and high-consequence technologies

3 | Commercial in confidence

Current and previous defence clients

4 | Commercial in confidence

hydrix

Mission-critical engineering for advanced medical and defence technologies

Hydrix has developed deep multidisciplinary capability in safety critical and mission-critical systems engineering, enabling participation in highly specialised medical and defence programs where technical complexity, reliability, regulation and deployment risk create serious barriers to entry.

ONE CAPABILITY BASE | TWO STRATEGIC MARKETS | SIGNIFICANT BARRIERS TO ENTRY | SUSTAINABLE VALUE

Defence and sovereign technology programs

IP67 rated man-portable EW platform for contested environments
Safety-critical telemetry and fuzing system for UAS interception
Quantum based GPS denied navigation and sensing platform

Embedded software and electronics

Systems integration and verification

Mission-critical control systems

Safety-critical development

FDA Class III & ISO13485 regulated development

Human factors and usability engineering

Ruggedised and deployable product design

Multidisciplinary engineering teams

hydrix

An advanced medtech development track record

Advanced medical technology development remains a core strategic market for Hydrix, with the company continuing to expand its global capability, customer relationships, and long-term development programs across complex regulated systems.

Programs and capabilities include:

Artificial heart and ventricular assist systems
Implantable medical technologies
Surgical robotics and autonomous navigation systems
Therapeutic, focused ultrasound systems
Connected healthcare and remote monitoring platforms
Class II and III medical device development

Artificial heart control technology - Ludo

Selected complex medical projects
Remote endovascular robotics - Client Confidential

Transcranial therapeutic ultrasound - Confidential

Inertial-guided orthopaedic navigation - Gyder

The engineering disciplines underpinning Hydrix's advanced medical technology capability are directly applicable to sovereign defence and autonomous systems

Commercial in confidence

6 | Commercial in confidence

hydrix

Proven sovereign defence capability

Hydrix has supported mission-critical sovereign defence capability programs for more than a decade.

We design, develop and integrate advanced electronics, sensing, embedded systems and mission-critical solutions across a range of sovereign defence initiatives.

Our experience spans:

Embedded systems and ruggedised electronics
RF systems and sensing technologies
Telemetry and control systems
Autonomous and deployable systems
Systems integration and verification

Directed Energy Systems

Control systems, power electronics & thermal management for high-performance directed energy platforms.

Field Deployable Medical Systems

Portable imaging and life-support technologies engineered for forward-deployed environments.

Counter-UAS Technology

Embedded sensing, autonomy & mission electronics supporting C-UAS capability development.

JTAC Airborne Training System

Airborne mission systems, targeting integration and real-time data links for JTAC training operations.

Precision Payload Integration Systems

Safety-critical embedded control & telemetry systems for precision-guided autonomous payloads.

Selected sovereign defence projects

Portable Electronic Warfare

Ruggedised electronic warfare systems for deployed RF disruption, SIGINT & battlefield operation.

10+ Years
Supporting defence-related programs

Multiple Active Programs
Sovereign defence initiatives currently underway

Mission-critical Systems
Expertise across autonomous and deployable technologies

7 | Commercial in confidence

hydrix

Positioned for defence tech expansion

A structural inflection point. Accelerating demand. Strategic opportunity.

For many years, defence spending growth remained relatively constrained and focused on large conventional platforms. Recent conflicts have accelerated demand for rapidly deployable autonomous and counter-UAS capability.

Key sector shifts include:

Rapid proliferation of autonomous systems
Growing counter-UAS requirements
Increased focus on sovereign capability
Accelerated procurement and deployment cycles
Increasing reliance on software-defined and AI-enabled systems

These programs increasingly require specialist embedded systems, RF, sensing, autonomy, and mission-critical engineering capability, areas aligned with Hydrix’s existing expertise.

> Asymmetric warfare is accelerating demand for lower-cost autonomous systems, edge AI capability, and rapidly deployable sovereign defence technologies.

Near term growth drivers

Aus govt $7B to UAS/C-UAS and autonomous systems
Accelerating autonomous systems programs
Increased deployment of C-UAS technologies
Growing demand for specialist engineering capability

Medium term strategic opportunity

Expansion into international defence markets
Increasing demand for complex mission-critical systems
Emergence of IP for autonomous field deployed hardware assets
Long-term scalable technology and strategic program growth

8 | Commercial in confidence

hydrix

Case study - NIOA strategic engagement

Hydrix is delivering embedded control, telemetry, and mission-critical electronics architecture supporting next-generation drone-deployed ordnance systems and autonomous payload integration.

Hydrix's Key Technology Contributions:

Mission-Critical Embedded Capability
Safety-critical embedded electronics, dual-redundant processing architecture, telemetry systems, and real-time control capability.
Autonomous Payload Integration
Integration with emerging UAS payload interface standards, sensing technologies, and deployable autonomous platform architectures.
Operational Data & System Intelligence
Telemetry and flight instrumentation supporting operational optimisation, deployment analysis, platform learning, and future capability evolution.

From left - NIOA's David Nink, Deputy Chief Engineer, Rudi Bekker, General Manager Engineering with Hydrix's Director of Engineering Andrew Beal and Director Business Development Peter Riddell

NIOA

Hydrix's engagement with NIOA represents strategic validation of the company's advanced engineering capability within sovereign defence and autonomous systems markets.

9 | Commercial in confidence

hydrix

Operating leverage & scalability

Maintaining engineering capacity to accelerate growth as organic sales pipeline matures.

Hydrix has strategically maintained a highly specialised multidisciplinary engineering workforce providing critical capability across embedded systems, electronics, firmware, RF, software, systems engineering, and mission-critical product development.

This capability base, combined with established contractor and specialist partner networks, enables Hydrix to rapidly scale delivery capacity in response to accelerating sovereign defence, autonomous systems, and advanced technology program demand.

This capability base can be deployed across new program opportunities, internal technology development, and future strategic R&D initiatives.

20+ years in business

400+ projects

25 years average experience

~45+ multidisciplinary engineering & commercial specialists across:

| Embedded & Mission Systems | • Real-time embedded software
• Telemetry & control systems
• Safety-critical firmware
• Linux & RTO5 platforms |
| --- | --- |
| Electronics, RF & Sensing | • RF systems & communications
• High-speed electronics
• Sensor integration
• Edge compute & FPGA systems |
| Systems Delivery & Deployment | • Systems engineering & integration
• Verification & validation
• Ruggedised deployable hardware
• Regulated product development |
| Human-Centered Systems Design | • Human factors
• Interface design
• Usability engineering
• Operator systems |
| Strategic Commercialisation & Partnerships | • Global business development
• Strategic customer engagement
• Partnership & ecosystem development
• Market-led growth strategy |

10 | Commercial in confidence

hydrix

A differentiated platform for long-term growth

Hydrix has established a scalable engineering platform positioned for growth across Defence, MedTech, and advanced sovereign technologies

Highly specialised multidisciplinary capability across mission-critical and regulated systems
Established delivery platform supporting complex, high-value engineering programs
Increasing exposure to longer-cycle strategic Defence and advanced technology opportunities
Potential leverage through reusable technology platforms, IP, and strategic partnerships
Experienced leadership team with expertise spanning engineering, delivery, governance, and commercialisation