DEEP YELLOW LIMITED — Capital/Financing Update 2021

Sep 27, 2021

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NEWS RELEASE

28 September 2021

LISTED OPTIONS – ACCELERATION TRIGGER REACHED

We wish to advise that the Acceleration Trigger on the listed options (DYLO) was reached at the close of trading on ASX yesterday, Monday, 27 September 2021.In accordance with the terms and conditions of the options, the process will now be as follows:

Acceleration Trigger Date Monday, 27 September Date of Notification to Optionholders * Wednesday, 29 September Expected Date of Reminder to Optionholders of Expiry Date Monday, 18 October Date that the options will cease trading on ASX at close of trade Monday, 25 October Expiry Date** Friday, 29 October

• Optionholders will receive advice from Computershare with BPAY details of how to exercise their options. For those optionholders who have provided email addresses to Computershare, this notification will be by way of email. All other optionholders will receive the notification by Australia Post. Given the significant delays being experienced with mail delivery, we encourage anyone who has not done so to contact Computershare and provide email details.

** The Expiry Date cannot be extended and any options for which cleared funds have not been received by that date will lapse and the options will no longer exist. Please use the BPAY facility if at all possible as the process to receive cleared funds by cheque takes a significant amount of time involving both the mailing time and the clearance time at the bank.

Optionholders should be aware that financial institutions may implement earlier cut-off times with regards to electronic payment, and this should be taken into consideration when making a payment. It is the optionholder’s responsibility to confirm with the financial institution what time their BPay closes daily and at which time a payment must be submitted in order to meet the required cut-off time.

If optionholders would like to exercise options prior to receiving the physical documents, please follow the steps to download the personalised Option Exercise Form via Computershare’s Investor Centre website.

Step 1 : Go to www.investorcentre.com/au Step 2 : Click on “ Single holding ” on the left-hand side of the page Step 3 : Enter: - Your Holder number ( HIN ) (including the X or I). - Postcode/country (if overseas). - Deep Yellow Limited’s ASX code ( DYL ). Step 4 : Go to “ Documents ” at the top of the page. Step 5 : Click the drop down and download your PDF form.

Should optionholders have any queries in relation to the process, please call the information line on 1300 850 505 (within Australia) or +61 3 9415 4000 (outside Australia) between 8.30am to 5.00pm (AEST) Monday to Friday.

Yours faithfully

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JOHN BORSHOFF Managing Director/CEO Deep Yellow Limited

This ASX announcement was authorised for release by Mr John Borshoff, Managing Director/CEO, for and on behalf of the Board of Deep Yellow Limited.

E info@deepyellow.com.au W www.deepyellow.com.au @deepyellowltd deep-yellow-limited

Unit 17, Spectrum Building, 100–104 Railway Road Subiaco, Western Australia 6008 PO Box 1770 Subiaco, Western Australia 6904 +61 8 9286 6999 ABN 97 006 391 948