Rakon Limited/Announcement
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RAK Annual Meeting Addresses and Presentation

AGM7 August 2020RAKInformation Technology

ASM 7 August 2020
©2015 Rakon Limited

Rakon Limited

2020 Annual Meeting of Shareholders

© 2020 Rakon Limited 7 August 2020

Enabling the

Connected Future

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Agenda

Welcome & Introduction

Items of Business

Chair’s Address

Chief Executive’s Review

Shareholders’ Questions

Annual Report and Business Update

Ordinary Resolutions

Re-elect Lorraine Witten

Re-elect Keith Oliver

Re-elect Tony Tseng

Authorise directors to fix remuneration of auditor

General Business

Meeting Close / Afternoon Tea

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A. Chair’s Welcome and Address

Bruce Irvine

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Financial Snapshot

Revenue

1

($m)

Reported Underlying

EBITDA

2

($m)

Notes:

1

All figures are presented in New Zealand dollars unless otherwise indicated.

2

Refer to note 4 of the FY2020 audited financial statements for an explanation of how ‘Non-GAAP Financial

Information’ is used, including a definition of ‘Underlying EBITDA’ and reconciliation to NPAT

Chair’s Address

4.0

12.1

13.3

14.8

FY2017FY2018FY2019FY2020FY2021

16 –18

*

*FY2021 is a provisional estimate

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Chair’s Address

Financial Results for FY2020 Show Steady

Improvement

Provisional FY2021 forecast shows trend continuing

Subject to headwinds of COVID-19 and geopolitical

tensions

Strategy Refresh

Indicates Rakon'sfocus on markets, customers, products

and capabilities is right

Disciplined approach should see sustained improvement

in results and shareholder value

Governance

Ongoing focus on ensuring good governance practices

Reviewed risk management framework and crisis

management practice was well tested in responding to

COVID-19 pandemic, with particular focuson health &

safety

Rakon team responded well to COVID-19 business

uncertainty and agreed reduction in salaries and fees

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B. Chief Executive’s Review

Brent Robinson

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FY2020, Financial Snapshot

Revenue of $119m vs. $114m in FY2019

Growth in Telecommunications

Decline in Space & Defence and Global

Positioning

Net Profit After Tax and Underlying EBITDA

Net profit after tax of $4.0m vs. $3.4m in

FY2019

Underlying EBITDA

oAs reported: $14.8m vs. $13.3m in FY2019

oFY2020 includes $3.1m related to IFRS 16

Leases

Operating Cash Flow $9.4m

Chief Executive’s Review

Net profit after

tax

Underlying

EBITDA

1

Up $0.6m

Up $1.5m

Revenue

Up $5m

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FY2020 Key Achievements

Increased sharewith major Tier One

Telecommunicationscustomers

New products being developed for emerging 5G

mmWaveequipment requirements

Rakon India fully embedded into the global

manufacturingstrategy

New product introductions

Ramping up for 5G deployments:

world’ssmallestOCXOMercury+™ and leading

ultra-stableTCXOsemployingNeptune™ and

Kepler™technologies

Customers demonstrating strong preference for

Rakon'squartz-based products over silicon-based

competition

XMEMS™ released: keyquartz-basedtechnology

forfuture products

Chief Executive’s Review

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XMEMS™

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XMEMS™: Rakon'sCore Technology for Future Products

Chief Executive’s Review

The technology is made with Rakon’s

NanoQuartz™ photolithographic

microfabricationprocesson quartz wafers

Rakonhas developed itsproprietary

photolithography process for over a decade

releasing XMEMS™during FY2020

XMEMS™ isRakon'sadvancedquartz-

basedresonator technology with products

alreadyreleased and in the pipeline

Quartz material for crystal resonator

Nano measurement & tuning

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Chief Executive's Review

The XMEMS™Difference

Quartz material preparation

Cutting & lapping of wafer

Waferthinning

Blank geometry

formation

Frequency targeting

Electrode pattern

formation

Wafer lapping to target

frequency

Wafer dicing

(Blank singulation)

Blank dimension lapping

Blank contouring

Chemical polishing &

frequency targeting

Electrode pattern

formation

Crystal assembly

process

XMEMS™ Resonator

Processing

Conventional Resonator

Processing

Optical mask

pattern (top)

Wafer being

processed

Optical mask pattern

(bottom)

All critical dimensioning is performed on a

singulated blank resulting in a LOWER

ACCURACY

All critical dimensioning is performed at

the wafer level which achieves

IMPROVED ACCURACIES

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Main Types of XMEMS™ Resonators

Chief Executive's Review

Bi-mesaInverted-mesaInnovative structures

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Chief Executive’s Review

XMEMS™ Benefits

Leading performance in the smallest profiles.

XMEMS™technology will be deployed across all

core industries for high-end applications

Enables industry leadingproducts & performance

Enables new products not possible with

conventionalmechanical processing methods

oWhen coupled with our proprietary ASICs thisenables

unseen levels of performance and new applications

oSuitable for miniaturisation

Lower manufacturing cost and better performance

XMEMS™ technology

will be available throughout

Rakon’shigh performance product

portfolio from OCXOs& TCXOs

through to VCXOs, to support

customers' next generation

system requirements

Ultra-low noise

and high

frequency

VCXO

Ultra Stable

TCXO

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Markets

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Telecommunications

14

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Telecommunications

Update

Continuing strong growth, revenue up 15% FY2020 vs. FY2019

43% of growth came from 5G segment

FY2020: increased share with major Tier One customers

FY2021 Q1 near-term demand strong but delivery hampered

by COVID-19 impacts

oRakon India (RI) impacted by lockdown restrictions in July

•Continuing to manage risks; RI has essential service status

Outlook

Overall demand still expected to be up as 5G deployment

begins, but affectedby:

oIntensifying geopolitical uncertainty

o5G deployment pushing out

•China delaying speedofinitial roll-out plans

•Europe unclear

oSecondwave impactfrom COVID-19 which isunknown

Chief Executive’s Review

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Space and Defence

16

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Space and Defence

Update

Rakon’s Space revenue droppedin FY2020

oPredominantly due to phasing of long-term contracts

oEuropean Space business was up with some of the traditional

geostationary satellite business returning

Defence lost some gains with revenue downin FY2020

For Q1 both Space and Defence tracking at the same level

as last year

Outlook

Expecting some revenue growth in both Space & Defence

including Rakon India winning new contracts

Low Earth Orbit (LEO) satellite business continuing to gain

momentum

oProduct development continuing, including higher value

subsystems

Chief Executive’s Review

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Global Positioning

Global Positioning

18

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Global Positioning

Update

FY2020: commodity, lower marginend of this

marketdeclined for Rakon

FY2020: industrial high precision GNSS business was flat

while revenue from the emergency locator beacon market

grew

For Q1 the revenue is down, mainly due to the aircraft

industrybeing affected by COVID-19

Outlook

Demand increasing in high precision markets requiring low

noise and excellent g-sensitivity for applications like

autonomous vehicles and this trend is expected to continue

Avionics demand downsignificantly due toCOVID-19

Chief Executive’s Review

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20

Chief Executive's Review

Enabling the Connected Future

Strategy

Recently reviewed

and refreshed

3 key focus areas

Invest in XMEMS™ and

advanced ASICs for next

generation requirements

Move away from

commoditisedproducts

Exploit highly efficient,

lean, low cost

manufacturing

platforms

End-to-end dual source

strategy

Cultivating innovation

Developing succession

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Closing Comments

Steady progress over last 4 years

COVID-19 has impacted revenue in FY2021

but with the longer-term demand for 5G,

business is still expected to grow

Over the last decade Rakon has built a

strongposition within the frequency control

andtimingindustry and established an

enviable ecosystem of customer relationships

that should see your company perform well

into the future

Chief Executive’s Review

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C. Shareholders’ Questions

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D. Resolutions

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Resolution 1: Re-election of Director

That Lorraine Mary Witten, who retires

by rotation and is eligible for re-election,

be elected as a director of RakonLimited

Ordinary Resolution

Proxy votes lodgedFor%Against%Discretionary%

Lorraine Witten

70,454,69952,160,93574.0315,769,98622.382,523,7783.58

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Resolution 2: Re-election of Director

That Keith William Oliver,who retires by

rotation and is eligible for re-election, be

elected as a director of Rakon Limited

Ordinary Resolution

Proxy votes lodgedFor%Against%Discretionary%

KeithOliver

70,454,69952,004,98773.8215,830,55622.472,616,1563.71

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Resolution 3: Re-election of Director

That Yin Tang (Tony) Tseng,who retires by

rotation and is eligible for re-election, be

elected as a director of Rakon Limited

Ordinary Resolution

Proxy votes lodgedFor%Against%Discretionary%

Tony Tseng

70,454,69952,072,52974.9115,821,01422.462,561,1563.64

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Resolution 4: Fixing Remuneration of Auditor

That the directors are authorised to fix the

remuneration of RakonLimited’s auditor,

PricewaterhouseCoopers, for the following year

Ordinary Resolution

Auditor:Proxy votes lodgedFor%Against%Discretionary%

70,454,69952,798,20574.8815,191,01521.542,525,6520

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F. General Business and Shareholders’ Questions

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Meeting Closed

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Thispresentationcontainsnotonlyareviewofoperations,butalsosomeforwardlookingstatementsaboutRakonLimitedand

theenvironmentinwhichthecompanyoperates.Becausethesestatementsareforwardlooking,RakonLimited'sactualresults

coulddiffermaterially

Althoughmanagementanddirectorsmayindicateandbelievethattheassumptionsunderlyingtheforwardlookingstatements

arereasonable,anyoftheassumptionscouldproveinaccurateorincorrectand,therefore,therecanbenoassurancethatthe

resultscontemplatedintheforwardlookingstatementswillberealised

Mediareleases,managementcommentaryandinvestorpresentationsareallavailableonthecompany'swebsiteandcontain

additionalinformationaboutmatterswhichcouldcauseRakonLimited'sperformancetodifferfromanyforwardlooking

statementsinthispresentation.PleasereadthispresentationinthewidercontextofmaterialpreviouslypublishedbyRakon

Limited

Disclaimer

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32

www.rakon.com

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RAKON LIMITED
CHAIR’S AND CHIEF EXECUITIVE’S ADDRESSES FOR RAKON LIMITED

ANNUAL MEETING

7 AUGUST 2020

A. Chair’s Address

Welcome to the 15

th

Annual Meeting of Shareholders of Rakon Limited. It is

pleasing to see so many of you here today. My name is Bruce Irvine and I am

Chair of the Board and will chair today’s meeting.

I confirm we have a quorum for today’s meeting and declare the meeting

open.

The order of business for today’s meeting is set out in the Notice of Annual

Meeting which was sent to shareholders on 10 July 2020 and is summarised

on the slide you can see behind me. You should also have received or had

access to the Company’s 2020 Annual Report and 2020 Review as released on

6 July 2020. If you have not been able to view either of these documents you

can find them on our website or request a printed copy at any time.

We have a number of resolutions to address later in the meeting and

shareholders may ask questions in relation to each resolution before it is

voted on. There will be an opportunity for more general questions and

comments about the business after the addresses from the Chief Executive

and myself.

This meeting is being streamed via a live audio link with the presentation

slides and we are making an audio recording of the proceedings of the

meeting which will be available on our website soon after the meeting.

I will say a few words before handing over to our Managing Director and

Chief Executive Brent Robinson who will talk about the business in more

detail.

Firstly I would like to introduce my colleagues who are here on stage with

me:

 Brent Robinson: Brent is our Managing Director and Chief Executive –
Brent is well known to you all for his long experience and leadership of

the Company.

 Lorraine Witten: Lorraine has been on the Board since March 2017 and

chairs our Audit and Risk Committee. Lorraine has extensive

governance, senior management and business experience in the

technology and communications sector. Lorraine is standing for re-

election at today’s meeting.

 Keith Oliver: Keith has been on the Board since March 2017 and chairs

our People Committee. Keith is a professional director and business

adviser and has experience with New Zealand and international

technology companies. Keith is standing for re-election at today’s

meeting.

 Keith Watson: Keith was appointed by the Board in September 2018

and elected to the Board at last year’s Annual Meeting. Keith has local

and international management and governance experience in

engineering and technology businesses. Keith is a member of Rakon’s

Audit and Risk Committee.

 Anand Rambhai Anand is our Chief Financial Officer. Anand has been

with Rakon for seven years including nearly two years as CFO.

 You will note our numbers here on stage are fewer than usual.

Unfortunately due to the COVID – 19 pandemic Tony Tseng who is

based in Taiwan is not able to join us today and nor are any of his

colleagues. Tony, is the Chair of Siward Crystal Technology Company

Limited and has been on the Board since March 2017. Siward is a

substantial shareholder of Rakon. Tony is standing for re-election at

today’s meeting and has prepared a short address which we will read

to you later in connection with the resolution to re-elect Tony.

 For myself – I have been on the Board since 2005 taking over the role

of Chair in 2018. I am a former managing partner of Deloitte in

Christchurch and a professional director with experience across a

broad range of New Zealand companies.

 In the front row is our Company Secretary and in-house legal counsel,

Maureen Shaddick. Maureen has been with Rakon for almost two

years.

I would also like to acknowledge the presence of representatives of our

auditor PricewaterhouseCoopers and the team from Computershare.

Computershare manages Rakon’s share register and is responsible for
managing and scrutineering the voting at today’s meeting.

I am proud to be the Chair of Rakon Limited. Rakon is a globally recognised

leader in the frequency control product industry. Rakon strives to anticipate

the new and exacting requirements of ever-evolving technological

developments and to meet the demands of key players in the

Telecommunications, Space and Defence and Positioning sectors whose

equipment requires timing and synchronisation.

In today’s world where technological changes are occurring at an ever

increasing rate this is an exciting but challenging industry to be part of.

SLIDE 3

Financial Snapshot FY2020

In the financial year ended March 2020, we built on the improvements

recorded in the previous financial year. We delivered revenue growth and

increased Net Profit and Underlying EBITDA

1

predominantly from growth in

the Telecommunications sector. There has been a steady improvement in

Underlying EBITDA

1

over the last four years as shown in the presentation

slide. Your Board anticipates further improvement and is forecasting

Underlying EBITDA

1

in the range of $16 million to $18 million for FY2021. Of

course any forward-looking outlook for Rakon must be tempered by the

uncertainties arising from the ongoing COVID-19 pandemic and the political

volatility in our major markets which present risk for our operations and

those of our suppliers and customers.

SLIDE 4

Strategy

During the last six months, a deep and extensive review of Rakon’s strategy

for its business and operations here in New Zealand and overseas has given

the Board confidence that Rakon is well placed to respond to both the risks

and opportunities in front of it. Efficiencies that deliver to the bottom-line

have been identified, the Company is positioned ahead of its competition to

gain from the roll-out of 5G by network equipment providers across the


1

Refer to note 4 of the FY2020 audited consolidated financial statements for an explanation of how ‘Non-

GAAP Financial Information’ is used, including a definition of ‘Underlying EBITDA’ and reconciliation to NPAT

world and there are new opportunities on the horizon for further
diversification and growth. In the Space market there is opportunity with the

transition to low earth orbit satellites and in Positioning growth in demand

for electric and autonomous vehicles provides further opportunity for

Rakon’s technology. Rakon will continue to play to its strengths in

developing advanced technology for the exacting requirements of its Tier

One customers and other strategic customers by leveraging off existing

proprietary technology and accelerating the commercialisation of new

leading technology.

This latest review of Rakon’s vision and its markets, products and capabilities

indicates Rakon is moving in the right direction.

This refreshed analysis supports the Board’s view that it is not the time to be

launching a sale process for the Company as some shareholders suggested

earlier this year. Rakon is set to maximise its opportunities in the

Telecommunications sector with its products designed into all Tier One

players providing network equipment for the roll out of 5G. Together with a

disciplined approach to the control of costs and inventory management, the

stream-lining of capabilities across all of its global operations and

partnerships, and prudent new investment the Board expects to see

sustained growth in results and improved shareholder value.

Governance

The Board was busy in FY2020 and this has continued into the new financial

year. We are committed to continuous improvement in our governance

practices and seek to ensure there is relevant reporting, engagement, policy

and procedure to support this commitment. In our Corporate Governance

Statement in the 2020 Annual Report, you can read a detailed account of our

compliance with the New Zealand Stock Exchange (NZX) Corporate

Governance Code. Reviewed governance policies and guidance are available

on our website.

In FY2020 we consolidated our risk management framework. As FY2020 came

to a close our Crisis Management practices, which are a key part of that

framework were well tested with the COVID-19 pandemic and restrictions.

Scenarios and related response levels were quickly established to protect the

health and safety of our people as the national and global risks arising from

the pandemic evolved. The same approach was applied to sustaining the

business through the local and national uncertainties created as a result of
the pandemic and the restrictions imposed by governments here in New

Zealand and overseas.

All of Rakon’s operations, including manufacturing, R&D, sales and

administration across the globe were affected by the COVID-19 pandemic

and restrictions and a large number of our staff agreed to take a 20% cut in

their salary as we sought to manage the uncertainties arising from the

pandemic.

After going in to lockdown Rakon New Zealand was recognised as an

essential business as a key supplier of components for essential services and

was able to restart subject to meeting strict health and safety requirements.

Rakon India was also able to restart some operations during the lockdown

imposed in India. Our French manufacturing was able to continue subject to

being able to do so safely. These outcomes have helped Rakon get back to

normal operating conditions sooner than would otherwise have been the

case.

During the three months beginning 1 April 2020, the Rakon directors all took

a 50% cut in their fees. However, they did not reduce their attention. There

were nine meetings between the announcement of the lockdown in late

March and the end of May to provide support to management and regular

governance oversight of the business.

The Board and the whole Rakon team were deeply saddened by the passing

of Warren Robinson in September 2019. Warren was the founder, former

chair and director of Rakon. Warren’s contribution to New Zealand’s

technology industry and his commitment and dedication over more than 50

years to this company was outstanding. Warren is remembered as a

remarkable New Zealander and as a warm and generous leader.

I would like to thank the Rakon Executive and employees here in Auckland, in

India, France and the UK and in our sales offices around the world for your

commitment and hard work for Rakon. A special thank you to all our global

team for their fortitude and resilience in facing the COVID-19 pandemic with

a particular thought for those for whom the daily impact of the COVID-19

pandemic continues.

Also, thank you to our technology partners Siward who unfortunately cannot
be with us here today but who continue to work closely with the Rakon

team.

And thank you, to you our shareholders, for your continued support. As a

Board we are very focused on acting in your interests and improving

shareholder value and returns.

I now invite Brent Robinson to provide further commentary on the

Company’s performance and a business update.

B. Chief Executive’s Review

SLIDE 6

FY2020 Financial Snapshot

It has been another good year for Rakon with the growth in revenue and

NPAT and Underlying EBITDA steadily improving on previous years and we

believe this positive trend should continue.

Recapping on the financial results for FY2020 announced on 29 June, revenue

increased by $5million from the previous year to $119 million due to growth

in the Telecommunications sector.

Net Profit after Tax was up by over half a million to $4 million and reported

Underlying EBITDA

1

improved by $1.5 million from the previous year to $14.8

million acknowledging this result included a one-off $3.1 million due to the

adoption of the new Accounting Standard in relation to Leases IFRS16.

Operating Cashflow of $9.4 million was higher than the previous year largely

because there was relatively lower expenditure on inventory.

SLIDE 7

Key Achievements

We were pleased to see Rakon awarded an increased share with major Tier

One customers which is a good sign that our products and service are

meeting the expectations of our customers.

Following the acquisition of our former joint venture partner in India and an

extensive integration project, our operations in India are now fully

embedded in our global manufacturing strategy.

As a result of the leading research and development by our teams, FY2020
saw the ramp up of the 5G deployment of the world’s smallest OCXO known

as Mercury+ and ultra stable TXCOs employing the Neptune and Kepler

technologies we have developed.

Rakon’s R&D team is also focused on developing products for the emerging

5GmmWave equipment, which is another feature of the transition to 5G

networks.

While there is increasing competition from manufacturers using silicon,

customers are still demonstrating preference for the quartz-based products.

SLIDES 8,9,10 and 11

XMEMS

Rakon has developed its proprietary photolithography process over the last

decade and released XMEMS

TM

in FY2020. XMEMS

TM

is Rakon’s advanced

quartz-based resonator technology made with Rakon’s NanoQuartz

photolithographic microfabrication process on quartz wafers.

XMEMS

TM

enables industry leading products and performance and new

products not possible with conventional mechanical processing methods.

When coupled with Rakon’s proprietary ASICs this enables unseen levels of

performance and new applications. XMEMS

TM

technology will be deployed

for high-end applications across all core industries we supply.

SLIDE 13

MARKETS

SLIDE 15

Telecommunications

In FY2020 there was growth in our Telecommunications revenue from

increased sales to network equipment providers for the maintenance and

upgrade of 4G networks and the roll-out of 5G networks.

There has also been strong demand in early FY2021 but delivery has been

hampered by COVID -19 impacts on operations and logistics. Overall demand

is expected to be up on FY2020 as 5G deployment has commenced but

intensifying geopolitical tension and economic uncertainty appear to be

slowing the pace of the 5G roll-out.

Rakon’s products provide the precise timing and synchronisation that
enables 5G to deliver significant improvements to existing applications like

video streaming, and real time data transfer and downloading as well as

many new applications that are not yet possible.

While COVID -19 must continue to be managed at an operational level and

has presented economic challenges for infrastructure development, it has

also demonstrated there is very real demand for the high-speed data that 5G

allows. Rakon continues to have the lead on its competitors for the timing

and frequency keeping technology required for these new network

developments.

SLIDE 17

Space and Defence

In Space and Defence we believe Rakon remains well-placed to maintain its

share of the market and we see opportunity for growth. Rakon’s Space

revenue was down in FY2020 predominantly due to the phasing of long-term

contracts though European Space business was up with some of the

traditional geostationary satellite business returning.

We continue to pursue opportunities for our technology including new

product development and higher value subsystems in the New Space market

where the transition to the use of Low Earth Orbit satellites is gaining

momentum.

In Q1 we tracked at the same level for Space and Defence as last year but we

are expecting revenue growth later in FY2021 including from our operations

in India.

SLIDE 19

Global Positioning

In the Global Positioning sector, demand is increasing in high precision

markets requiring low noise and excellent g-sensitivity to meet the exacting

requirements for applications like autonomous vehicles. This new

opportunity is a good sign as the commodified lower margin end of the

Positioning business has begun to decline for Rakon.

Business for industrial high precision GNSS was flat in FY2020 but we saw

revenue from the emergency beacon market grow.

In Q1 the impact of COVID-19 on the aircraft industry has resulted in lower
Positioning revenue and lower demand is expected to continue until the

avionics business returns to normal.

Rakon remains alert to new Emerging markets including electric vehicles and

autonomous vehicles and the possibilities for medical related applications

such as remote surgeries, all of which present challenging and exciting

opportunities for our product development teams now and in the future.

SLIDE 20

Strategy

Over the last six months management and the Board have undertaken a

detailed review of Rakon’s Strategy. We believe it is important for Rakon to

continue to play to its core capabilities

Key focus areas are:

Technology Leadership: Rakon has developed and seeks to maintain a strong

in-house R&D and product management capability focused on developing

new technology and products ahead of the competition and using its leading

edge capability to move away from commoditised products. Rakon is

investing in XMEMS

TM

and advanced ASICs for next generation requirements.

Rakon’s specialists seek to work closely with customer design teams,

influence technology choices and demonstrate the benefits of innovations.

Operational Excellence: Operationally Rakon seeks to exploit highly efficient,

lean, low cost manufacturing platforms where appropriate in the product life

cycle. Rakon is focused on dual source supply of critical materials,

sophisticated inventory management systems and applying total quality

management throughout the product design and manufacturing phases.

People and Leadership: Rakon will foster a dynamic and responsive culture,

cultivate innovation and develop succession. Rakon seeks to maintain a core

centre of excellence and company-wide specialists with stream-lined

organisational development, systems and processes.



SLIDE 21
Outlook and Closing Comments

Based on the demand we are seeing we expect the positive trend in

performance over the last four years to continue in this financial year. COVID

-19 has impacted FY2021 revenue but in the longer term demand for 5G

business is still expected to grow.

With a refreshed strategy and confidence in our core capabilities Rakon is

confident it is well positioned for the future.

Over the last decade, Rakon has built a strong position within the frequency

control and timing industry and established an enviable global ecosystem of

customer relationships that should see your Company perform well into the

future.

SLIDES 22 TO 30 SHAREHOLDER QUESTIONS, RESOLUTIONS AND

CLOSING


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Rakon Limited
T +64 9 573 5554, F +64 9 573 5559

8 Sylvia Park Road, Mt Wellington, Auckland 1060, New Zealand

Private Bag 99943, Newmarket, Auckland 1149, New Zealand

Page 1 of 1 w w w . r a k o n . c o m



7 August 2020


Rakon (RAK) 2020 Annual Meeting Addresses and Presentation


The Annual Meeting of Shareholders of Rakon Limited is being held on Friday 7 August 2020 at

2.00pm in the Guineas 1 Room, Ellerslie Event Centre, 80 Ascot Avenue, Remuera, Auckland, New

Zealand.


Attached are the:

Chair’s Address and Chief Executive’s Review

Rakon 2020 Annual Meeting Presentation

Annual Meeting Addresses and Presentation Announcement


-ends-


Contact:

Maureen Shaddick

Company Secretary

Rakon Limited

+64 9 571 9238


www.rakon.com



About Rakon

Rakon is a global high technology company and a world leader in its field. The company designs and

manufactures advanced frequency control and timing solutions. Its three core markets are Telecommunications,

Global Positioning and Space and Defence. Rakon products are found at the forefront of communications where

speed and reliability are paramount. The company’s products create extremely accurate electric signals which

are used to generate radio waves and synchronise time in the most demanding communication applications.

Rakon has three manufacturing plants, and has six research and development centres. Customer support

personnel are located in sixteen offices worldwide. Rakon is proud of its New Zealand heritage; it was founded

in Auckland in 1967. It is a public company listed on the New Zealand stock exchange, NZX, ticker code RAK.

Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.