DEEP YELLOW LIMITED — Director's Dealing 2021

May 24, 2021

==> picture [225 x 57] intentionally omitted <==

NEWS RELEASE

25 May 2021

INITIAL DIRECTOR INTEREST NOTICE

Deep Yellow Limited (ASX:DYL) ( Deep Yellow or Company ) refers to the announcement made on 12 May 2021 confirming the appointment of Mr Chris Salisbury and attaches an Appendix 3X.

The Appendix 3X was not filed earlier due to an administrative oversight.

The Company advises it is aware of its listing rule obligations in relation to these disclosures and specifically listing rules 3.19A and 3.19B. In this respect the Company makes the following statements about the attached Appendix 3X.

1. The Appendix 3X is being filed to correct an administrative oversight;

2. The Company has informed all Directors of the disclosure requirements set out in the listing rules 3.19, 3.19B and s 205G of the Corporations Act. In addition, the Company has adopted a Securities Trading Policy which has been disclosed to the market and outlines the requirements for disclosure and approval of all securities trading; and

3. The Company is confident that the arrangements it currently has in place are adequate and doesn’t believe that any additional steps are required to ensure ongoing compliance with listing rule 3.19B.

Yours faithfully

==> picture [104 x 48] intentionally omitted <==

MARK PITTS

Company Secretary Deep Yellow Limited

This ASX announcement was authorised for release by Mr Mark Pitts, Company Secretary, for and on behalf of the Board of Deep Yellow Limited.

For further information, contact:

John Borshoff Phone: +61 8 9286 6999 Managing Director/CEO Email: john.borshoff@deepyellow.com.au

For further information on the Company and its projects, please visit the website at: www.deepyellow.com.au

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

About Deep Yellow Limited

Deep Yellow Limited is a differentiated, advanced uranium exploration company in predevelopment phase, implementing a contrarian strategy to grow shareholder wealth. This strategy is founded upon growing the existing uranium resources across the Company’s uranium projects in Namibia (a Definitive Feasibility Study is in progress on the Tumas Project) and the pursuit of accretive, counter-cyclical acquisitions to build a global, geographically diverse asset portfolio. The Company’s cornerstone suite of projects in Namibia is situated within a top-ranked African mining destination in a jurisdiction that has a long, well-regarded history of safely and effectively developing and regulating its considerable uranium mining industry.

ABN 97 006 391 948

Unit 17, Spectrum Building 100–104 Railway Road Subiaco, Western Australia 6008

PO Box 1770

Subiaco, Western Australia 6904

DYL: ASX & NSX (Namibia) DYLLF: OTCQX www.deepyellow.com.au @deepyellowltd deep-yellow-limited

==> picture [110 x 55] intentionally omitted <==

2

Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity Deep Yellow Limited ABN 97 006 391 948

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Christopher Salisbury
Date of appointment	12 May 2021

Part 1 - Director’s relevant interests in securities of which the director is the registered holder In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Number & class of securities

NIL

• See chapter 19 for defined terms.

Appendix 3X Page 1

11/3/2002

Appendix 3X Initial Director’s Interest Notice

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

==> picture [401 x 144] intentionally omitted <==

----- Start of picture text -----

Name of holder & nature of interest Number & class of Securities
Note: Provide details of the circumstances giving
rise to the relevant interest.
NIL
----- End of picture text -----

Part 3 – Director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) No. and class of securities to which interest relates

• See chapter 19 for defined terms.

Appendix 3X Page 2

11/3/2002