DEVELOP GLOBAL LIMITED — Capital/Financing Update 2022

May 23, 2022

24 May 2022 Company Announcements Platform Australian Securities Exchange Level 4 20 Bridge Street SYDNEY NSW 2000 Dear Sir/Madam, NOTICE UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT 2001 (AS MODIFIED) This notice is given by Develop Global Limited (ASX: DVP) ( Develop or the Company ) under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ). Develop refers to its announcement earlier today regarding the completion by the Company of the acquisition of all of the shares in Heron Resources Limited ( Heron ) by way of a deed of company arrangement. As set out in that announcement, as part consideration for the acquisition of Heron, Develop has today issued 4,782,859 fully paid ordinary shares in Develop ( Shares ) to OMF Fund II (H) Ltd ( Orion ). Develop hereby gives notice under section 708A(5)(e) of the Corporations Act (as modified) that: a) Develop has today issued 4,782,859 Shares to Orion, without disclosure to investors under Part 6D.2 of the Corporations Act; and b) as at the date of this notice:

i.	Develop has complied with the provisions of Chapter 2M of the Corporations Act as they apply
	to Develop;
ii.	Develop has complied with sections 674 and 674A of the Corporations Act; and
iii.	Develop is not aware of any information that may be "excluded information" within the meaning
	of sections 708A(7) or 708A(8) of the Corporations Act, which is required to be disclosed under
	section 708A(6)(e) of the Corporations Act.

This ASX announcement was authorised by Bill Beament, Managing Director, Develop.

Yours sincerely,

TREVOR HART Company Secretary