Quixant : Notice of AGM 2023

THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION.

If you are in any doubt as to any aspect of the proposals referred to in this document or as to the action you should take, you should consult your stockbroker, bank manager, solicitor, accountant or other professional adviser authorised under the Financial Services and Markets Act 2000 if you are resident in the United Kingdom or, if not, from another appropriately authorised independent professional adviser.

If you have sold or otherwise transferred all of your shares in the Company, please send this document, together with the accompanying documents, at once to the purchaser or transferee, or to the stockbroker, bank or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee. If you have sold or otherwise transferred only part of your holding, you should retain these documents.

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QUIXANT PLC

(incorporated in England and Wales with registered number 04316977)

NOTICE OF ANNUAL GENERAL MEETING

To be held on 27 April 2023 at 11:00 a.m.

at the Company offices at

The Galleria, Station Road, Crawley, RH10 1WW

Notice of the 2023 Annual General Meeting of the Company to be held at the Company offices at The Galleria, Station Road, Crawley, RH10 1WW at 11:00 a.m. on 27 April 2023 is set out on pages 5-7 of this document. Enclosed with this document is a Form of Proxy for use in connection with the Annual General Meeting.

Shareholders are requested to complete and return the Form of Proxy whether or not they intend to be present at the Annual General Meeting.

To be valid, the Form of Proxy should be completed and signed in accordance with the instructions printed on it and returned to Neville Registrars Limited, Neville House, Steelpark Road, Halesowen B62 8HD as soon as possible and in any event no later than 11:00 a.m. on 25 April 2023. The completion and return of a Form of Proxy will not preclude a Shareholder from attending and voting at the Annual General Meeting.

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QUIXANT PLC

(incorporated in England and Wales with registered number 04316977)

Directors:

Francis Small (Chair)

Nicholas Jarmany

Jon Jayal

Johan Olivier

Gary Mullins

Duncan Penny

Carol Thompson

Guy van Zwanenberg

Registered office:

Aisle Barn

100 High Street

Balsham

Cambridge

CB21 4EP

Annual General Meeting 2023

Dear Shareholder,

Please find attached the Notice of Annual General Meeting (the "AGM") of Quixant PLC (the "Company") which will be held on 27 April 2023. The Notice of AGM sets out the business to be considered at the meeting.

Guy will be retiring from the board at the 2023 AGM and therefore will not be standing for re- election. On behalf of my fellow directors I would like to pass on our thanks and gratitude to Guy for his outstanding contribution and expertise throughout his tenure as a board member and chairman of the Audit Committee.

The resolutions proposed for consideration at the AGM are set out on the three pages following this letter. There are also detailed explanatory notes about the proposed resolutions below and explanation of your rights to attend and vote at the AGM or to appoint a proxy.

The Board considers that all the proposed resolutions are in the best interests of the Company and its members and are most likely to promote the success of the Company for the benefit of its members as a whole.

If you have a question you would like to put to the Board relating to the business to be conducted at the AGM, this should be submitted to the Company Secretary via [e-mail].

Resolution 1 - To receive the Annual Report and Financial Statements

The Directors are required to present the financial statements, Directors' Report and Auditor's Report to the meeting. These are contained in the Company's Annual Report for the year ended 31 December 2022 (the "Annual Report"). A resolution to receive the Annual Report is proposed as an ordinary resolution.

Resolutions 2 - To declare a final dividend

The Directors propose an ordinary resolution to approve the payment of a final dividend, of 3.0 pence per ordinary share in respect of the year ended 31 December 2022. The dividend is recommended by the Board and will be paid in cash on 25 August 2023 to holders of ordinary shares registered at close of business on 28 July 2023.

Resolution 3 and 4 - Election of Directors

The Directors propose ordinary resolutions to approve the election of Duncan Penny and Carol Thompson, who having been appointed as Directors since the Company's last Annual General Meeting, are retiring in accordance with Article 66 of the Company's Articles of Association and offering themselves for election as Directors.

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Resolutions 5, 6, 7 and 8 - Re-election of Directors

The Directors propose ordinary resolutions to approve the re-election of Nicholas Jarmany, Gary Mullins, Jonathan Jayal and Francis Small who are retiring by rotation in accordance with Article 69 of the Company's Articles of Association and offering themselves for re-election as Directors. Pursuant to Article 69 of the Company's Articles of Association, at each AGM of the Company's one third of the Directors (or, if their number is not three or a multiple of three, the nearest number to one third) are required to step down and can offer themselves for re-election. Article 69 also requires that any Director who has held office with the Company for nine years or more, shall be subject to re-appointment at each annual general meeting. Guy van Zwanenberg will be stepping down from the Board of Directors with effect from the conclusion of the meeting.

Resolution 9 and 10 -Appointment and remuneration of Auditor

The Company is required to appoint auditors at each general meeting at which accounts are laid before the Company, to hold office until the conclusion of the next meeting. The Directors propose ordinary resolutions to approve the reappointment of KPMG LLP as auditors of the Company until the next AGM and to authorise the Directors to determine their remuneration.

Resolution 11 - Authority to allot shares

The authority sought by this resolution is for the Directors to be authorised to allot Ordinary Shares or to grant rights to subscribe for, or to convert any security into, Ordinary Shares up to two-thirds of the Company's current issued share capital at the date of this notice. Paragraph (i) of the resolution will give the Directors a general authority to allot up to an aggregate nominal value of £22,158.35 being the equivalent of one-third of the Company's issued ordinary share capital at the date of this notice. This is in accordance with the Investment Association Share Capital Management Guidelines. In addition, the guidelines permit the authority to extend to a further third of the issued share capital, where any such shares allotted using this additional authority are in connection with a rights issue. Paragraph (ii) of the resolution proposes this additional authority be granted to the Directors.

The Directors are seeking the annual renewal of this authority in accordance with best practice and to ensure the Company has maximum flexibility in managing its capital resources. The authorities in this Resolution will lapse at the end of the next Annual General Meeting of the Company or 30 June 2024 (whichever is the sooner).

Resolutions 12 and 13 - Authority to disapply pre-emption rights

Resolutions 12 and 13 are special resolutions which, if passed, will enable the Directors to allot shares in the Company, or to sell any shares out of treasury, for cash, without first offering those shares to existing shareholders in proportion to their existing shareholdings. In November 2022, the Pre-Emption Group published a revision of its Statement of Principles. The 2022 Statement of Principles provides that a company may now seek power to issue on a non-pre-emptive basis for cash equity securities representing: (i) no more than 10% of the company's issued ordinary share capital in any one year, whether or not in connection with an acquisition or specified capital investment (with a further authority of no more than 2% to be used only for the purposes of making a follow-on offer); and (ii) no more than an additional 10% of the company's issued ordinary share capital provided that such additional power is only used in connection with an acquisition of specified capital investment (with a further authority for no more than 2% to be used only for the purposes of making a follow-on offer). In line with best practice, the Company has structured its pre-emption disapplication request as two separate resolutions.

If Resolution 12 is passed, it grants a three-part disapplication of statutory pre-emption rights: (i) in connection with a rights issue or other pre-emptive issues; (ii) up to a maximum nominal amount of £6,647.51, representing approximately 10% of the Company's issued ordinary share capital at 21 March 2023, being the latest practicable date prior to the publication of this document (otherwise than under the power referred to in (i)); and (iii) up to a nominal amount equal 20 per

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cent of any allotment under (ii), but with such power to be used only for a follow-on offer (a "Follow-On Offer") which the Directors determine to be of a kind contemplated by paragraph 3 of section 2B of the Pre-Emption Group Statement. This resolution will permit the Directors to allot any such shares for cash in any circumstances (whether or not in connection with an acquisition or specified capital investment).

If Resolution 13 is passed, a further disapplication of pre-emption rights (additional to those contained in Resolution 12) will be granted, limited to: (i) up to a maximum nominal amount of £6,647.51, which would equate to 10% of the Company's issued share capital (excluding treasury shares (if any)) as at 21 March 2023, being the latest practicable date prior to the publication of this document, to be used for the purposes of financing (or, in certain circumstances, refinancing) transactions which the Directors determine to be either an acquisition or a specified capital investment contemplated by the Pre-Emption Group Statement; and (ii) up to a nominal amount equal 20 per cent of any allotment under (i), but with such power to be used only for a Follow-On Offer.

Resolution 14 - Purchase of own shares

Resolution 14 is a special resolution that will grant the Company authority to make market purchases of up to 6,647,506 Ordinary Shares, representing approximately 10% of the Company's total voting rights as at the date of this Notice. Any shares that are bought back will either be cancelled or placed into treasury at the directors' determination. The maximum price that may be paid is 5% above the average mid-market price for the preceding 5 days and the minimum amount is 0.1 pence, being the nominal value of the Ordinary Shares. The directors have no current intention of exercising this authority and would only do so if they considered it to be in the best interests of shareholders.

The authorities in this resolution will lapse at the end of the next Annual General Meeting of the Company or 30 June 2024 (whichever is the sooner).

Resolution 15 - Change of Company name

Resolution 15 is a special resolution to change the Company's name to Nexteq plc.

The Group's strong growth to date means that the business has evolved from 58 employees at IPO in 2013 with a niche vertical focus in providing computer platforms into the Gaming industry to a business with 230 employees supplying multiple product ranges to customers across a range of industries. The Board believes the business platform provides an opportunity to identify and diversify further into other sectors that could also benefit from a technology outsourcing partnership but have had little specialist provider penetration to date.

As such, the Board has considered the value proposition, vision and brand for the Group as a whole. The Quixant brand is recognised and highly respected in the Gaming sector, while Densitron has a pedigree in industrial display components and more recently as an expert in Broadcast HMI solutions. The Group however is sector agnostic but operates through divisional businesses which share the common vision to support customers in selected markets with products which enable them to focus their internal engineering effort on their core value proposition.

The Board has therefore decided to recommend to shareholders a change in name of the Group to Nexteq plc, while maintaining the Quixant brand for the Gaming Business and Densitron for the Broadcast and Industrial Display Components Businesses. The Board believes this will provide the right structure to support our growth strategy and clarify our offering in the market.

Yours sincerely

Francis Small

Chair

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NOTICE OF ANNUAL GENERAL MEETING

QUIXANT PLC

Notice is hereby given that the Annual General Meeting ("AGM") of Quixant PLC will be held at the Company offices at The Galleria, Station Road, Crawley, RH10 1WW on 27 April 2023 at 11:00 a.m. to consider and, if thought fit, pass the following resolutions.

Resolutions 1 to 11 will be proposed as ordinary resolutions; this means that for each of those ordinary resolutions to be passed, more than half of the votes cast must be in favour. Resolutions 12 to 15 will be proposed as special resolutions; this means that for each of those resolutions to be passed, at least three-quarters of the votes cast must be in favour.

ORDINARY RESOLUTIONS

1. To receive the Company's annual financial statements, Directors' Report and Auditor's Report contained in the Company's Annual Report and Financial Statements for the year ended 31 December 2022 (the "Annual Report").
2. To pay a final dividend of 3.0 pence per ordinary share be approved in respect of the year ended 31 December 2022, such dividend to be paid on 25 August 2023 to holders of ordinary shares registered at close of business on 28 July 2023.
3. To elect Duncan Penny as a Director of the Company
4. To elect Carol Thompson as a Director of the Company
5. To re-elect Nicholas Jarmany as a Director of the Company
6. To re-elect Gary Mullins as a Director of the Company
7. To re-elect Jonathan Jayal as a Director of the Company
8. To re-elect Francis Small as a Director of the Company
9. To re-appoint KPMG LLP as auditors of the Company (the "Auditors") until the conclusion of the next AGM at which financial statements are laid before the Company
10. To authorise the Directors to determine the Auditor's remuneration.
11. THAT, in substitution for all existing authorities, the Directors be given power under Section 551 of the Companies Act 2006 ("the Act") to exercise all the powers of the Company to allot shares in the Company and to grant rights to subscribe for, or to convert any security into, shares in the Company ("Rights"):-
12. 1. up to an aggregate nominal amount of £22,158.35 being equivalent to one-third of the Company's issued share capital; and,
    2. up to a further aggregate nominal amount of £22,158.35 provided that
       (a) they are equity securities (within the meaning of section 560(1) of the Act) and (b) they are offered by way of a rights issue to holders of ordinary shares in the Company at such record dates as the directors may determine where the equity securities attributable to the interests of the ordinary shareholders are proportionate (as nearly as may be practicable) to the respective numbers of ordinary shares held by them on any such record date, subject to such exclusions or other arrangements as the directors may deem necessary or expedient to deal with fractional entitlements or legal or practical problems arising under the laws of any

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