The pair were also charged with possession of 25,000 rounds of ammunition and the burglary of the Maitland St property from where the firearms were allegedly stolen.
Melissa Sue Addison, 36, arrested in relation to the incident, appeared in court last week on two counts of possessing weapons, two of supplying methamphetamine and assisting a co-defendant to avoid conviction.
She had her bail bid rejected and would be back in court next month.
Police said the arrests last week concluded a month-long operation in relation to the October 25 burglary.
As part of the investigation, five homes in Dunedin and one in the Auckland area were searched. Properties Dunedin, Gore and Christchurch had also been searched in recent weeks, police said.
Police did not rule out further arrests.
Earlier this month, patched Bandidos gang member Grant Andrew Latimer, 57, appeared at the Dunedin District Court where he pleaded guilty to four counts of possessing a weapon and four of receiving, as well as possessing 2400 rounds for the firearms.
His 56-year-old co-defendant, Michael Leslie Burnard, had yet to enter pleas to charges.