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

43957607
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: change in nature of relevant interest.

Date of relevant event: 12 May 2026

Date this disclosure made: 12 May 2026

Date last disclosure: 8 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: 224,188,399 ordinary shares

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

(c) total percentage held in class: 97.554% (rounded to three decimal places)

For last disclosure,—

(d) total number held in class: 223,849,255 ordinary shares

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

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

Page 2
43957607
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 declared the Offer unconditional and is now making payment to acceptors in accordance
with the terms of the Offer. As a result of payments made to Shareholders, Bourns is now the
holder of 223,849,255 RAK Shares. Bourns becomes the registered holder of RAK Shares for
which the Offer has been accepted once payment is made, and therefore the nature of its
relevant interest changes.

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.

As at 12 May 2026, Bourns has a relevant interest in respect of, in aggregate, 224,188,399 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: 223,849,255 ordinary shares

(b) percentage held in class: 97.407% (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: 339,144 ordinary shares

(f) percentage held in class: 0.148% (rounded to three decimal places)

Page 3
43957607

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

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

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.