SPH Notice - Bourns, Inc. ("Bourns")

Disclosure of movement of 1% or more in substantial holding
or change in nature of relevant interest, or both
Sections 277 and 278, Financial Markets Conduct Act 2013
ToNZX Limited
and
ToRakon Limited ("Rakon")
Relevant event being disclosed: movement of 1% or more in substantial holding.
Date of relevant event: 9 February 2026
Date this disclosure made: 11 February 2026
Date last disclosure: 11 January 2026
Substantial product holder giving disclosure
Full name: Bourns, Inc. ("Bourns")
Summary of substantial holding
Class of quoted voting products: Ordinary shares in Rakon Limited ("RAK Shares") (ISIN:
NZRAKE0001S8) (NZX Code: RAK).
Summary for Bourns, Inc.
For this disclosure,—
(a)total number held in class: 100,538,502 ordinary shares
(b)total in class: 229,809,013 ordinary shares
(c)total percentage held in class: 43.749 % (rounded to three decimal places)
For last disclosure,—
(d)total number held in class: 94,671,815 ordinary shares
(e)total in class: 229,809,013 ordinary shares
(f)total percentage held in class: 41.195% (rounded to three decimal places)
Details of transactions and events giving rise to relevant event
On 11 January 2026, Bourns entered into seven separate lock-up agreements with certain of
Rakon’s major shareholders (the Locked-Up Parties) in relation to a proposed full takeover offer
for all of the equity securities in Rakon (the Lock-Up Agreements). The Lock-Up Agreements

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relate to an aggregate of 94,671,815 RAK Shares. Copies of each of the Lock-Up Agreements
were attached to the relevant disclosure filed by Bourns on 12 January 2026. Under the terms
of the Lock-Up Agreements, the Locked-Up Parties have three business days after despatch to
accept the Offer.
On 9 February 2026, Bourns made a full cash takeover offer under the Takeovers Code to acquire
all of the equity securities in Rakon at a price of $1.55 per equity security (the Offer). A copy of
the offer document dated 9 February 2026 was provided to NZX on that date.
As at the end of day on 9 February 2026, 5,866,687 RAK Shares had been accepted under the
Offer by other Rakon shareholders other than the Locked-up Parties.
Bourns interest in RAK Shares as a result of the Lock-Up Agreements remains unchanged.
Accordingly, as at 11.59pm (NZT) on 9 February 2026, Bourns has a relevant interest in respect
of, in aggregate, 100,538,502 RAK Shares. Payment for those RAK Shares will be made in
accordance with the terms of the Offer, following which Bourns will become the registered
holder and beneficial owner of those RAK Shares.
Details after relevant interests
Details for Bourns, Inc.
Nature of relevant interest(s): Locked-Up Parties and other shareholders accepting the Offer in
respect of their RAK Shares, with payment for those shares expected to be made as described
above under “Details of transaction and events giving rise to relevant event”.
For that relevant interest,—
(a)number held in class: 5,866,687 ordinary shares
(b)percentage held in class: 2.554% (rounded to three decimal places)
(c)current registered holder(s): the Locked-Up Parties and other accepting shareholders
(as defined above)
(d)registered holder(s) once transfers are registered: Bourns, Inc.
For derivate relevant interest, also—
(a)type of derivative: not applicable
(b)details of derivative: not applicable
(c)parties to the derivative: not applicable
(d)if the substantial product holder is not a party to the derivative, the nature of the
relevant interest in the derivative: not applicable
Additional information

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Address of substantial product holder: c/– Simpson Grierson, Level 27, 88 Shortland Street,
Auckland 1010, New Zealand.
Name of any other person believed to have given, or believed to be required to give, a disclosure
under the Financial Markets Conduct Act 2013 in relation to the financial products to which this
disclosure relates: N/A
Certification
I, Michael Pollard of Simpson Grierson, solicitor, acting as agent for Bourns, Inc. certify that, to
the best of my knowledge and belief, the information contained in this disclosure is correct and
that I am duly authorised to make this disclosure by all persons for whom it is made.