DEEP YELLOW LIMITED — M&A Activity 2022

Jul 25, 2022

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26 July 2022

Court Approves Scheme

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Vimy Resources Limited (ASX:VMY, OTCQB:VMRSF) ( Vimy or Company ) is pleased to announce that the Supreme Court of Western Australia ( Court ) has today made orders approving the scheme of arrangement pursuant to which Deep Yellow Limited (ASX:DYL, OTCQX: DYLLF) ( Deep Yellow ) will acquire all of the shares in Vimy ( Vimy Shares ), ( Scheme ).

Lodgement of Court Orders and Suspension of Trading

Vimy expects to lodge an office copy of the Court’s orders with the Australian Securities and Investments Commission on or before Wednesday, 27 July 2022, at which time the Scheme will become legally effective. If this occurs, Vimy expects that Vimy Shares will be suspended from trading on ASX at close of trading on Wednesday, 27 July 2022.

Scheme Timetable

The key dates expected for the Scheme are set out below.

Key Dates	Date*
Effective Date	Wednesday, 27 July 2022
New Deep Yellow Shares commence trading on ASX on a deferred settlement basis	10.00am (AWST), Thursday, 28 July 2022
Scheme Record Date	5:00pm (AWST), Friday, 29 July 2022
Implementation Date	Thursday, 4 August 2022
New Deep Yellow Shares commence trading on ASX on a normal settlement basis	Friday, 5 August 2022

*All times and dates in the above timetable are references to the time and date in Perth, Western Australia (AWST). All dates are indicative only. Vimy reserves the right to vary the times and dates set out above. Any changes to the above timetable will be announced on ASX and notified on Vimy's website at www.vimyresources.com.au.

Vimy will continue to update Vimy shareholders as to any material developments in relation to the Scheme as the timetable progresses.

ENDS

Steven Michael Managing Director

Tel: +61 8 9389 2700

Released for and on behalf of the Board of Vimy Resources Limited

Vimy Resources Limited First Floor, 1209 Hay Street West Perth Western Australia 6005

Telephone: +61 8 9389 2700 Website: vimyresources.com.au

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About Vimy Resources

Vimy Resources Limited (ASX: VMY, OTCQB: VMRSF) is a Perth-based resource development company. Vimy’s flagship project is the Mulga Rock Project (100%), one of Australia’s largest undeveloped uranium resources, which is located 290km by road ENE of Kalgoorlie in the Great Victoria Desert of Western Australia.

Vimy also owns and operates the largest granted uranium exploration package in the world-class Alligator River uranium district, located in the Northern Territory. Vimy is exploring for large high-grade uranium unconformity deposits identical to those found in the Athabasca Basin in Canada.

Vimy acknowledges the Traditional Custodians of the country on which we work and travel, throughout Australia, and respects their associated connections.

Directors and Management

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The Hon. Cheryl Edwardes AM Non-Executive Chairman

Wayne Bramwell Non-Executive Director

Steven Michael Managing Director & CEO

Dr Tony Chamberlain Executive Director & COO

Paula Arthur

Manager Approvals and ESG

Shannon Coates

Company Secretary

Scott Hyman Vice President Sales and Marketing

Xavier Moreau

General Manager, Geology and Exploration Matthew Owen Chief Financial Officer

Kyle Pitcher

Registered Manager, Mulga Rock Project

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Vimy has adopted Towards Sustainable Mining ® an award-winning accountability framework which helps minerals companies evaluate, manage and communicate their sustainability performance. Adopting the independently verified system will reinforce Vimy’s commitment to continuous improvement in safety, environmental and social governance (ESG).

Committed to:

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The amount of natural uranium produced from Mulga Rock (3.5Mlbs pa U3O8) if utilised in nuclear reactors which displaced coal-fired electricity would reduce carbon dioxide equivalent emissions by approximately

64 million tonnes

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That is equivalent to about 12% of Australia’s

and 70%

of Western Australia’s greenhouse gas emissions

For a comprehensive view of information that has been lodged on the ASX online lodgement system and the Company website, please visit asx.com.au and vimyresources.com.au, respectively.

Principal Place of Business

First Floor 1209 Hay Street West Perth WA 6005

Postal Address: PO Box 23 West Perth WA 6872

T: +61 8 9389 2700 F: +61 8 9389 2722 E: info@vimyresources.com.au

ABN: 56 120 178 949

Share Registry

Automic Group

T: 1300 288 664 (within Australia) +61 2 9698 5414 (outside Australia) W: investor.automic.com.au E: hello@automicgroup.com.au