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

43946773
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

To NZX Limited

and

To Rakon Limited ("Rakon")

Relevant event being disclosed: Disclosure of movement of 1% or more in substantial holding
and change in nature of relevant interest.

Date of relevant event: 7 May 2026

Date this disclosure made: 8 May 2026

Date last disclosure: 4 May 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: 223,849,255 ordinary shares

(b) total in class: 229,809,013 ordinary shares

(c) total percentage held in class: 97.407% (rounded to three decimal places)

For last disclosure,—

(d) total number held in class: 217,677,643 ordinary shares

(e) total in class: 229,809,013 ordinary shares

(f) total percentage held in class: 94.721% (rounded to three decimal places)

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43946773
Details of transactions and events giving rise to relevant event

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 (Offer). A copy of the
offer document dated 9 February 2026 was provided to NZX on that date.

Bourns has declared the Offer unconditional and is now the holder of 219,656,765 RAK Shares
after making payment on 8 May 2026 in accordance with the terms of the Offer. Accordingly,
the nature of the relevant interest has changed.

Bourns continues to have an unconditional obligation to acquire any further RAK Shares for
which acceptances of the Offer are received, in accordance with the terms of the Offer.

Since Bourns’ previous disclosure on 4 May 2026, it has acquired a further relevant interest in
6,171,612 RAK Shares as a result of various shareholders accepting the Offer. This increase
represents a movement of more than 1% in Bourns’ substantial holding.

As at the end of day on 7 May 2026, Bourns has a relevant interest in respect of, in aggregate,
223,849,255 RAK Shares.

Details after relevant event

Details for Bourns, Inc.

Nature of relevant interest(s): registered holder

For that relevant interest,—

(a) number held in class: 219,656,765 ordinary shares

(b) percentage held in class: 95.582% (rounded to three decimal places)

(c) current registered holder(s): 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

Nature of relevant interest(s): Unconditional obligation to acquire quoted voting products in
accordance with the terms of the Offer.

For that relevant interest,—

(e) number held in class: 4,047,505 ordinary shares

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43946773

(f) percentage held in class: 1.761% (rounded to three decimal places)

(g) current registered holder(s): various accepting shareholders

(h) registered holder(s) once transfers are registered: Bourns, Inc.

For derivate relevant interest, also—

(i) type of derivative: not applicable

(j) details of derivative: not applicable

(k) parties to the derivative: not applicable

(l) 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
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.