Investor Presentation

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Enabling the connected future
Investor presentation
9 February 2022 © Rakon Limited

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Disclaimer
This presentation has been prepared by Rakon Limited for information purposes only. The information in this
presentation is of a general nature and does not purport to be complete nor does it contain all the information
required for an investor to evaluate an investment
This presentation contains not only a review of operations, but also some forward looking statements
about Rakon Limited and the environment in which the company operates. Because these statements are
forward looking, Rakon Limited's actual results could differ materially
Although management and directors may indicate and believe that the assumptions underlying the
forward looking statements are reasonable, any of the assumptions could prove inaccurate or incorrect
and, therefore, there can be no assurance thatresults or outcomes contemplated in the forward looking
statements will be realised
Media releases, management commentary and investor presentations are all available on the company's
website and contain additional information about matters which could cause Rakon Limited's
performance to differ from any forward looking statements in this presentation. Please read this
presentation in the wider context of material previously published by Rakon Limited

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Agenda
Introduction & company overview
Financial trends
Forward focus
Q+A & close
Dr Sinan Altug (CEO designate)
Anand Rambhai (CFO)

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Introduction & company overview
3

4
4
Our global operation
Manufacturing sites
R&D centres
Customer support
locations
Quality assurance
Key manufacturing
partners
EUROPE
ASIA
OCEANIA
NORTHAMERICA
4
60+
countries have Rakon
customers
6
company and partner
manufacturing sites
6
R&D centres of
excellence
16
customer support
locations
1000+
FTE employees
worldwide
40+
nationalities in the
Rakon family

5
Our purpose
is to enable the connected future and change the way we work, live and play
We develop solutions that are changing the way we live, work
and play –right now and into the future
Our mission is to be a world leader in the development of timing
and frequency control solutions for the most challenging
specifications and environments
By working closely with our customers and industry partners, we
solve difficult problems and enable next generation technology to
become a reality
We are enabling infrastructure, networks and applications to
perform at ever-greater levels of speed, reliability and capacity,
making things that were only ever dreamed of possible

6
How we create value
We drive the advancement of precision timing and frequency control solutions in our core markets,
and ensure long product lifecycles through operational excellence and enduring customer relationships

Hi-Reliability
Industrial
Consumer
FY2021
USD $650M
Price / Performance Level
Quantity / Volume
Rakon share
Consumer
Industrial
Hi-Reliability
FY2026
USD $1,150M
Our opportunity
Growing our share in high-growth markets
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Positioning
Telecommunications
Space & Defence
“We play in the parts of the market where
solutions are needed for the most challenging
specifications and environments”
Serviceable Addressable Market
7

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Telecommunications
Growth momentum in 5G infrastructure and cloud computing
Overview
•Key components at the heart of telecommunications and cloud computing networks
•Telecommunications generates 60% of Rakon’s revenue, 3-year CAGR 24%
•Our high-performance products and technologies (Mercury, Pluto) are market leading and we are
already developing the next generation of products in partnership with our customers
Product leadership
Design-in wins for new products enabling 5G millimetre wave capability
Industry leading ultra low noise product portfolio
-price, performance and size
Precise timing requirements for many applications driving strong growth
Major cloud computing equipment suppliers secured as customers
Operators deploying new networks and enhancing existing infrastructure
Strong contribution from new products (Mercury™)
5G demand increasing/6G on the horizon
Value drivers
Cloud computing emerging
$38m
$42m
$40m
$54m
$65m
$77m
FY18FY19FY20FY211H22
Revenue
1H2H
$16m
$18m
$14m
$20m
$26m
$31m
34%
38%
40%
40%
42%
FY18FY19FY20FY211H22
Gross margin
1H2HGM%
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Space & Defence
Emerging NewSpace opportunity
Overview
•Products used in aircraft, satellites and launch vehicles; and defence communications,
radar and positioning systems, meeting extreme environmental challenges and
demanding performance expectations
•Space & Defence generates 23% of Rakon’s revenue, 3 year CAGR growth rate 2.6%
Future value drivers
NewSpace
Emerging NewSpace segment creates a large medium term growth
opportunity, driven by increasing demands in satellite
internet/communications, earth observation and deep space
exploration
Continued innovation leadership
Space and defence is a key source of innovation which is then applied to
other market segments
Partnerships with government agencies and commercial programmes
worldwide to develop new technologies
$11m
$12m
$28m
$32m
$28m
$30m
FY18FY19FY20FY211H22
Revenue
1H2H
$7.7m
$8.0m
$19m
$22m
$19m
$20m
68%
69%
69%
68%
67%
FY18FY19FY20FY211H22
Gross margin
1H2HGM%
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The supply chain
0
200
400
600
800
1000
1200
FY20FY21FY22FY23FY24FY25FY26FY27
Components FCP SAMAssemblies SAMSub-systems SAM
NZ $M
CAGR 32%
Rakon Serviceable Available Market
Tier 1:
Systems
Tier 2:
Subsystems
Tier 3: Assemblies
Tier 4: Components and
parts
Tier 5: Hardware and materials
Volumes
Value
Rakon NewSpace strategy
3 –5 year growth plan
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Positioning
Growing demand for high precision and high reliability
Overview
•Products used in Global Navigation Satellite Systems (GNSS) to enable determination of
position, velocity and time for applications such as personal navigation devices, emergency
beacons and automated vehicles
•11% of Rakon’s revenue, 3 year CAGR -19%
•Over recent years the movement away from commoditised consumer products into higher
margin/higher growth industrial markets has reduced revenue but improved gross margin %
•High share of emergency beacon market due to unmatched product specifications
Future value drivers
Autonomous vehicles
Autonomous vehicle industry driving need for higher performance and higher
reliability products
High precision industrial machines
Growth in higher-margin precision industrial applications including growing
share of agricultural/mining segments as automation becomes standard
$3m
$11m
$8m
$7m
$7m
$7m
42%
40%
36%
48%
55%
FY18FY19FY20FY211H22
Gross margin
1H2HGM%
$6m
$13m
$26m
$20m
$19m
$14m
FY18FY19FY20FY211H22
Revenue
1H2H
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Customer partnerships
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Long term relationships with industry leaders
Core market players
Overview
•Approved supplier to majority of Tier 1 companies in all core markets
•10–30 year relationships with major customers, international agencies and
industry standards organisations key to development of industry-leading
technologies
•Top 10 customers contribute 55% of total revenue
Key strategies
•Manage long-term supply/R&D partnerships to achieve ‘preferred’ status
oDevelop deep understanding of customer needs and work with them to
identify what’s possible
oEstablish new technology R&D partnerships
•Securing new partners in emerging segments
•Inclusion of Rakon’s products in customer reference designs
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Overview
•Strong pioneering culture and history of innovation ‘firsts’
•Some key innovations have helped us become a leader in our industry
•We are consistently first-to-market in next-generation designs for core markets
•Portfolio of patented products and technologies provides a competitive moat that
protects against commoditisation
•Superior product performance which is difficult to replicate ensures long lifecycles and
revenue streams
Key strategies
•10–12% of revenue invested in R&D annually
•R&D framework supporting innovation and commercialisation provides a strong pipeline
of next-generation products and technologies
•Tight research and innovation partnerships with customers and research organisations
•In-house development of unique, proprietary test equipment enabling higher
specification levels
•XMEMS
®
–release of disruptive XMEMS
®
based products that can be manufactured at
scale
Technology innovation
Continuing to raise the bar with ever-smaller form factors
$6.6m
$9.7m
$11.0m
$12.8m
$13.6m
$6.5m
FY18FY19FY20FY211H22
Research & Development
expenditure
H1H2
XMEMS
®
–using NanoQuartz™ photolithography based technology
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Overview
•Global manufacturing facilities and partnerships deliver scale, support long product lifecycles,
and mitigate supply chain risk
•Industry requires stringent quality certifications
•Proven ability to scale quickly to meet customer demand
Key strategies
•Explore-Exploit strategy provides focussed R&D with scalable manufacturing capability using
multiple sites
•Continue to increase capacity in India and NZ to meet growing demand
oNew high-tech Indian facility expands existing capacity and allows product life cycles to
be extended as products are migrated from France and NZ
•Strong strategic manufacturing partners (Siward, Hana) provides access to specialist cost
effective manufacturing capability at scale
•Dual source supply & manufacturing at each global site to mitigate supply chain risk for
customers
•Minimise Covid-19 related risks at all manufacturing sites
Flexible scalable operations
Robust performance delivering scale, mitigating risk and improving resilience
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14

New Rakon India facility
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Financial trends
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$43m
$52m
$52m
$59m
$43m
43%
45%
44%
46%
51%
FY18FY19FY20FY211H22
Gross margin
core businessTCXO chip shortageGM%
Revenue and earnings trends
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$10.0m
$3.4m
$4.0m
$9.6m
$18.9m
FY18FY19FY20FY211H22
NPAT
$101m
$114m
$119m
$128m
$85m
FY18FY19FY20FY211H22
Revenue
core businessTCXO chip shortage
$12m
$11m
$15m
$23m
$26m
FY18FY19FY20FY211H22
EBITDA
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Strong balance sheet for future growth
$7.4m
($7.7m)
($7.9m)
$5.0m
$3.6m
FY18FY19FY20FY211H22
Net cash/(debt)
$87m
$90m
$92m
$104m
$121m
FY18FY19FY20FY211H22
Shareholders funds
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$7.9m
($1.8m)
$9.4m
$20.1m
$4.5m
FY18FY19FY20FY211H22
Operating cash flow
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1H22 –key highlights & achievements
Forward focus
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Continue to win in core market growth opportunities
•5G networks, Cloud Computing, LEO/NewSpace, Autonomous ​
Cutting edge new products and platforms
•Multiple XMEMS® based product families​
•Latest proprietary chip ‘Niku’ for next generation products​
Relentless pursuit of continuous innovative improvement
•Increase R&D spending target from 10% to 10–12% of sales, focus on speed of execution
•Reward innovation and reinforce the culture of innovation
New Indian facility
•Allow global manufacturing flexibility and plant redundancy across a wide whole spectrum of
products
•Continue to increase manufacturing capacity and capability in NZ to support increased demand
Continue active risk management of supply chain, Covid-19, and cost
inflation
Continue to retain a conservative balance sheet
Forward focus
Allocate resources in line with strategy and be bold in areas that matter most
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Q+A
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Outlook
Appendices
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Appendix 1: Sustainable operation
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ESG framework development under way:
•Review ofmaterial ESG issues
•Prioritisation of response and actions
•Alignment of climate change reporting to TCFD
•Focus on governance, strategy, risk management, metrics and targets
•Roadmap
What we’re already doing:
•Environmental
oEMS ISO14001 certification at manufacturingsites; energy, carbon dioxide and refrigerantuse
measured and reported via CDP; waste minimisation; developing products which improve
environmental footprint (smaller, higher-performing, less power)
•Social
oDiverse workforce –commitment to internal development and upskilling; emphasis on health,
safety and wellness
oLocal community initiatives aimed at improving quality of life for next generations
•Governance
oGlobal compliance with all export controls and international trade laws and treaties.
Customer due diligence and internal policy and processes
oCorporate governance framework; policies and codes of conduct; risk framework; legal and
regulatory compliance
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Looking after each other, our planet and future generations

Appendix 2: Technology pioneer
Since 1967 we have enabled the next wave of technology
1960s1970s1980s1990s2000s2010s2020s
HC-48C crystalUM-1 crystalTXO4080VTXO500 / USOCDXO/ RXT / ASICTCXO / OCXOSpace subsystems
/ XMEMS®
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SSB radio
Pagers
Cellular phones
GPS navigation
Precision satellite
positioning
Smartphones
Internet boom
3G, 4G, 5G networks
Internet of Things
Cloud computing
infrastructure
NewSpace
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Cloud computing: Allows users to have on-demand availability of a remote
computer system’s resources for improved computing power or data
storage (usually located quite far from the user, such as in another country)
Datacentres: Usually a building that is used to hold a computer system and
other components to backup data
Design-in: An opportunity that allows Rakon’s product to be used as the
reference component for certain customer reference designs (a technical
blueprint of a system intended to be used by customers)
Edge computing: Allows users to have on-demand availability of a remote
computer system’s resources for improved computing power or data
storage (usually located close to the user, such as within the same city).
5G: 5th generation of the telecommunications standard, providing 10 to
1000 times better performance in many different applications
5G millimetre wave technology: The equipment that enables higher
frequency data transmission in 5G
New space/ New space LEOs: Refers to space sector commercialisation,
that are mainly low earth orbit (LEO) satellites
Mercury™ / Mercury+™: Rakon’s proprietary integrated circuit used in
OCXOs to achieve clock variations to less than 1 billionth of a second, these
enable precision timing in 5G applications
OCXO: Oven Controlled Crystal Oscillator. A crystal oscillator that uses a
miniaturised oven to keep its internal temperature constant
O-RAN: Mobile networks that are more intelligent, open, virtualised and fully
interoperable
Pluto®: Rakon’s proprietary integrated circuit used in TCXOs to achieve clock
variations to less than 100 millionth of a second; these enable higher data rates
in 5G applications
System solutions:Refers to Rakon’s solutions that include high performance
products, equipment and consulting services for Space & Defence
TCXO: Temperature Compensated Crystal Oscillator. A crystal oscillator with
additional circuitry to remove frequency variations due to temperature change
Tier 1customers: recognised key players within their respective industries, that
make up a significant market share
VCXO: Voltage Controlled Crystal Oscillator (VCXO). A crystal oscillator with an
adjustable output frequency
XMEMS®: Crystal Micro-Electro-Mechanical System. Rakon’s advanced quartz-
based resonator technology. It is made with Rakon’s NanoQuartz™
microfabrication process, delivering unprecedented resonator and oscillator
performances
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Glossary
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www.rakon.com