DEVELOP GLOBAL LIMITED — Capital/Financing Update 2022

Mar 9, 2022

ASX Announcement 10/03/2022

REMINDER OF ENTITLEMENT OFFER CLOSING DATE

On 17 February 2022, Develop announced a fully underwritten equity raising to raise A$50 million by way of a 1-for-18.6 pro-rata accelerated non-renounceable entitlement offer and an institutional placement of approximately 7.6 million new fully paid ordinary shares in Develop.

Develop would like to remind shareholders that the closing date for the Retail Entitlement Offer is 5.00pm (Sydney time) on Monday, 14 March 2022 .

Event	Time / Date
Record date for determining entitlement for theEntitlement Offer	7.00pm (Sydney time), Monday,21 February 2022
Retail Entitlement Offer opens. Retail OfferBooklet and Entitlement & Acceptance Formsdispatched	Thursday, 24 February 2022
Retail Entitlement Offer closes	5.00 pm (Sydney time),Monday, 14 March 2022
Settlement of Retail Entitlement Offer	Friday, 18 March 2022
Issue of new shares under the RetailEntitlement Offer	Monday, 21 March 2022
Normal trading of new shares issued under theRetail Entitlement Offer commences	Tuesday, 22 March 2022

• The above timetable is indicative only and subject to change without notice. The commencement of quotation of New Shares is subject to confirmation from ASX. Subject to the requirements of the Corporations Act, the ASX Listing Rules and any other applicable laws, Develop, with the consent of the Underwriter (if required), reserves the right to amend this timetable at any time, including extending the Retail Entitlement Offer period or accepting late applications, either generally or in particular cases, without notice.

Only eligible retail shareholders on the record date (being 7.00pm Sydney time on Monday, 21 February 2022) may participate in the Retail Entitlement Offer. The eligibility criteria are set out in the retail offer information booklet ( Retail Offer Booklet ), a copy of which was released to ASX, and made available to eligible retail shareholders, on 24 February 2022.

Eligible retail shareholders can access the Retail Offer Booklet and personalised Entitlement and Acceptance Form, and apply online, at https://events.miraqle.com/dvp-offer.

This announcement has been authorised for release to ASX by Develop's Managing Director, Bill Beament.

Shareholder enquiries

If you have any questions in relation to the Retail Entitlement Offer, please call the Retail Entitlement Offer Information Line on 1300 420 709 (within Australia) or +61 1300 420 709 (outside Australia) at any time between 8:30 am and 5:00 pm (Sydney time) on Monday to Friday during the Retail Entitlement Offer period (excluding public holidays). Further information in relation to the Retail Entitlement Offer, and the equity raising generally, can be found in the investor presentation released to ASX on 17 February 2022, available at https://develop.com.au/investor-centre/#asx-announcements.

About Develop

Develop (ASX: DVP) is an exploration and development company with a zinc-copper mine under C&M near Sydney in New South Wales and two advanced copper-zinc projects near Port Hedland in the Pilbara region of Western Australia. The C&M asset is the Woodlawn mine, a significant VMS geological system with over a 20-year production track record. The asset is planned for significant exploration to underpin a new mine plan. The two projects are the Sulphur Springs Project which includes the Sulphur Springs and Kangaroos Caves deposits, plus 27km of prospective tenements on the Panorama trend; and the JV on the Whim Creek Project, which includes the Resources at the Whim Creek, Mons Cupri and Salt Creek mines together with the Evelyn project and 18,100 ha of prospective tenements over the Whim Creek basin. The Company’s focus is to explore Woodlawn and bring it back to full production, and to finance its highquality Sulphur Springs Project, paving the way for its transformation into a new major ASX-listed base metal producer in the medium term. This will position it to be a long-term supplier of copper and zinc to global markets at a time when significant shortfalls are expected for both metals, especially copper.

Contact

ontact
INVESTORS	MEDIA
Bill Beament	Paul Armstrong
Develop	Read Corporate
P: +61 8 6389 7400	P: +61 8 9388 1474
E: hello@develop.com.au	E: info@readcorporate.com