Board Update and Process

Rakon Limited
T: +64 9 573 5554
8 Sylvia Park Road, Mt Wellington, Auckland 1060, New Zealand
Private Bag 99943, Newmarket, Auckland 1149, New Zealand


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28 August 2025
Board Update and Process
Rakon Limited (NZX: RAK) is providing the following update, following incorrect reporting in
BusinessDesk this morning that Lorraine Witten was stepping down as Chair.
As previously advised, Lorraine Witten agreed to remain on the Board as Chair and chair of the Audit
and Risk Committee to ensure Rakon remains in compliance with NZX Listing Rules relating to Board
independence and to bring stability to the Board. Lorraine’s intention is to retire from the Board
once a majority-independent Board has been appointed.
The Rakon Board will follow a formal process to identify, select and appoint suitably qualified and
experienced independent directors to form a majority independent Board.
Lorraine Witten said: “Across the Board, we are united on the vision and potential for Rakon on the
global stage. We will continue to focus on supporting management to execute on Rakon’s strategy,
realising the company’s potential and delivering sustainable value to all our shareholders. All
directors have agreed and are working constructively to develop a Board that is aligned with the
interests of all shareholders and complies with best practice governance. It continues to be my
intention to retire once that is achieved.”
ENDS

Contact:
Investor and media relations,
Nick Laurent, investors@rakon.com,
+64 21 240 7541

About Rakon
Rakon’s products help people to connect, explore and innovate. They are the ‘heartbeat’ for electronic
systems, delivering fast, precise and stable timing in everything from mobile networks and autonomous
vehicles to satellite constellations and AI data centres. Whether connecting to a 5G tower or to a rover
exploring Mars, our technology is relied on to deliver the highest performance in even the most extreme
conditions. Thanks to our constant drive to innovate, we continue to empower our customers to create the
next-generation of life-transforming technologies.
For more information, www.rakon.com