DEVELOP GLOBAL LIMITED — Regulatory Filings 2022

Feb 27, 2022

28 February 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).

On Thursday, 17 February 2022, Develop announced:

• a) a fully underwritten accelerated non-renounceable entitlement offer (Entitlement Offer) of 1 new fully paid ordinary share in Develop (New Shares) for every 18.6 shares in Develop held as at 7.00pm (Sydney time) on Monday, 21 February 2022 by Develop shareholders with registered addresses in Australia or New Zealand, or in certain other jurisdictions in which Develop determines to make offers (together, Eligible Shareholders); and

• b) a concurrent fully underwritten placement of up to 7,575,757 New Shares in Develop to certain institutional investors (Placement Shares), (Placement).

In addition, Develop announced that it intends to issue up to 303,030 additional New Shares to certain directors of Develop at the same issue price as under the Placement and Entitlement Offer, subject to shareholder approval.

Where applicable, references in this notice to sections of the Corporations Act are to those sections as modified by ASIC Corporations (Disregarding Technical Relief) Instrument 2016/73.

In respect of the Placement, Develop hereby gives notice under section 708A(5)(e) of the Corporations Act that:

• a) Develop has today issued 7,575,757 Placement Shares under the Placement, without disclosure to investors under Part 6D.2 of the Corporations Act;

• 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,

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TREVOR HART Company Secretary