Notice Pursuant to Rule 49A of the Takeovers Code

Project Radar - Rule 49A Notice (27 Feb 2026)(43628001.1).docx
27 February 2026

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

NOTICE PURSUANT TO RULE 49A OF THE TAKEOVERS CODE

We refer to Bourns, Inc.’s (Bourns) takeover offer for all of the fully paid ordinary shares
(Shares), and all of the unlisted share rights to acquire Shares which are subject to the terms of
the Rakon Limited Executive Long Term Incentive Plan (Share Rights), in Rakon Limited (RAK)
dated 9 February 2026 (Offer).

This notice is given to satisfy the requirement of rule 49A of the Takeovers Code to notify the
Takeovers Panel, RAK and NZX on each occasion when the total level of acceptances received
for each class of equity securities subject to the Offer increases by 1% or more of the total issued
equity securities in each class in RAK.

At end of day on 26 February 2026, the level of acceptances received pursuant to the Offer in
respect of the Shares is 59.973%.

As at the end of the day on 26 February 2026, the level of acceptances received pursuant to the
Offer in respect of the different classes of Share Rights (where Bourns has a relevant interest of
more than 1%) is as follows
1
:

(a) the FY2025 Share Rights: 41.118%;
(b) the FY2025 Share Rights as varied by the Conditional Retention Letter: 28.070%;
(c) the FY2026 Share Rights granted to non-executive participants: 49.717%; and
(d) the FY2026 Share Rights granted to executive participants and varied by the Conditional
Retention Letter: 37.757%.

Yours faithfully
Bourns, Inc.

cc The Takeovers Panel
Level 3, Solnet House
70 The Terrace
PO Box 1171
Wellington 6011
Sent by email: takeovers.panel@takeovers.govt.nz

cc NZX Limited
Level 1, NZX Centre
11 Cable Street
PO Box 2959
Wellington
Sent by email: announce@nzx.com

1
One holder has partially accepted its Share Rights across two classes and has not indicated how those acceptances are to be
allocated between those classes. Pending clarification, the acceptances have been allocated on a pro rata basis across both classes
(being the Share Rights described in subclauses (a) and (c)) for the purposes of this notice.