• DXN has executed an option to acquire the freehold of the land and building in which SDC Darwin operates
• The purchase price is $2.1 million, with an independent valuation of $10 million for the combined data centre and freehold
• The transaction is subject to obtaining debt financing and other conditions precedent

DXN Ltd (ASX:DXN) has executed an option to acquire the freehold of the land and building in which Secure Data Centre Pty Ltd as Trustee for SDC Trust (SDC Darwin) operates. This follows the Company's previous announcements in September and October 2021 regarding the acquisition of SDC Darwin. The option had an expiry date of 3 years post acquisition, which had been extended to the end of March 2025. DXN has now executed the Option Deed and a Binding Contract of Sale to purchase the land and building for $2.1 million. The Contract of Sale is subject to conditions precedent including obtaining debt financing for the purchase. DXN has received an independent valuation of $10 million for the combined data centre and freehold option. The Board believes that executing the freehold option increases shareholder value of the Company's combined freehold land and data centre business. DXN is working with debt financiers including banks and non-bank lenders with an aim to settle the transaction within 60 days. Shareholders will be updated on completion details in due course.