DXN LIMITED

ASX:DXNSoftware & Services

375.2M shares on issueASX (delayed) · snapshot 11 Sept 2026385.9M fully diluted+2.9% if every option and right converts$0.40price · delayed$150.1Mmarket cap · indicative

Today’s holders own 97.2% of what they think they own, once every option and right converts.

Low

Dilution risk

Share count grew 101% in 24 months; 1 cash raise in 24 months; 2% of shares in the money

Absolute levels — not a ranking against other companies.

Cash runwaycash-generative (no net burn)

Share-count growth (24m)100.8%

Raise cadence (24m)1 cash raise

Options & rights overhang2.9% of shares

In-the-money supply1.5% of shares

Pending proposed issuesnone

DXN LIMITED's ordinary share count grew 100.8% between July 2024 and September 2026, to 375M shares, adjusted for a share consolidation. In the past 24 months, the company has completed one capital raise, a A$7.0M placement in June 2026. Options and rights on issue could convert into 11M new shares, representing 2.9% of the current share count, of which 2% are in the money. The nearest expiry for these options is December 2026. As of June 2026, the company reported A$13.6M in available cash. No proposed securities issues are pending.

AI-generated summary of this page's cited filings · updated 7 Sept 2026

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2.9%

Options & rights overhang

1.5%

In-the-money supply

Raises · last 12 months

No net burn

Cash cover · cash-generative

Shares on issue — last 2 years

Ordinary shares on issue

Weekly counts from ASX records. Dots mark cash capital raises. Latest count 375.2M per ASX (delayed) (snapshot 11 Sept 2026).

Cash runway

—

The latest quarterly report shows no net cash burn, so there is no cash-out date.

$13.6M cash after burn from the quarter ended 30 June 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds. Filed with the quarterly report: $11.0M cash at quarter end (item 4.6). Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.

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14 quarters on record — Cash runway history

Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 30 June 2026.

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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

Date	Form	Security	On issue, per this filing	Source
7 Sept 2026	2A · quoted issue	DXN : ORDINARY FULLY PAID	375.2M	Appendix 2A
26 Aug 2026	2A · quoted issue	DXN : ORDINARY FULLY PAID	375.0M	Appendix 2A
24 Aug 2026	2A · quoted issue	DXN : ORDINARY FULLY PAID	370.1M	Appendix 2A
25 June 2026	2A · quoted issue	DXN : ORDINARY FULLY PAID	368.8M	Appendix 2A
12 June 2026	2A · quoted issue	DXN : ORDINARY FULLY PAID	368.1M	Appendix 2A

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22 filings on record — Full issuance history

Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).

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Capital raises

1 cash raise in the last 24 months · 1 in the last 12 months

$7.0M

Placement

9 June 2026 COMPLETE

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5 raises on record — Full raise history

Issue price, shares issued, brokers and stated purpose for every raise on record.

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Forward supply

Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.

4.2M of option supply could convert within 12 months — 1.1% of shares on issue

4.2M in the money, expiring in the window

Out-of-the-money options are excluded — at today’s price they expire rather than convert. So is condition-triggered supply, which has no expiry and no price, and convertibles that convert on their own terms rather than on a date.

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3 dated events on record — Forward supply calendar

Option expiries and proposed issues on one forward timeline, with the securities each could add.

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Placement capacity

How much stock a company can place without asking holders. Listing Rule 7.1 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.

About 50% of the 15% placement capacity left — about 50% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). Holder-approved issues and any later ratification are not deducted, so the true headroom can be higher.

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Placement capacity — LR 7.1 / 7.1A

The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.

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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

2.9%

Options & rights overhang · of current shares

1.5%

In-the-money supply · at current price

10.7M

Potential new shares

Dec 2026

Nearest expiry

What a price move would switch on

At $0.40 today, 5.5M securities are in the money (1.5% of shares on issue). No price up to ten times today’s switches on any more priced supply.

Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
5.2M (48.5% of the supply above) states a nil exercise price — nothing is paid to convert it, so no share price switches it on or off. It is the flat band, and it is not part of the in-the-money figure.

Code	Security	Type	Exercise price	Expiry	On issue	Source
DXNAQ	Options	Price-triggered	$0.14	6 Dec 2026	4.2M	Filing
DXNAP	Options	Price-triggered	$0.030	22 Jan 2028	1.3M	Filing
DXNAS	Options	Price-triggered	Nil	14 May 2031	5.2M	Filing

“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column.

1 class ceased in the last 12 months and is not counted above

The company’s own Appendix 2A restates each of these at zero. They are excluded from the overhang, the in-the-money supply and every figure on this page. Each count is the filing’s own count of securities in the class, not a share count — a 2A never states what one security converts into.

DXNAOPrice-triggered13.3M securities → 013 Oct 2025 Appendix 2A

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3 option lines on record — In-the-money value & price ladder

What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.

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Director dealings

Date	Director	Type	Shares	Options	Other	Value	Source
4 June 2026	Brendan Power	Sell on-market	—	—	—	—	3Y notice
4 June 2026	Myo Ohn	Sell on-market	1.1M	—	—	$130k	3Y notice
14 May 2026	Shalini Lagrutta	Other	186k	5.2M	—	—	3Y notice