DEVELOP GLOBAL LIMITED — Share Issue/Capital Change 2023

Sep 28, 2023

ASX Announcement 29 September 2023

Issue of Employee Incentive Awards

Develop Global Limited (ASX: DVP) ( Develop or the Company ) advises that it has today issued a total of 1,887,985 Performance Rights and 855,000 Options to employees under the Company’s Employee Incentives Awards Plan ( Employee Awards ). The Employee Awards comprise 478,532 Performance Rights issued to employees as incentive awards for the financial year ending 30 June 2023 and 1,409,453 Performance Rights and 855,000 Options issued to key managerial staff as their long-term incentives for the next 5 years.

The Company has also issued a total of 15,086 Share Rights pursuant to the NED Fee Share Plan approved by shareholders at the general meeting held on 25 May 2023.

Refer to Appendix 3G released on ASX today for further details.

Authorised for ASX release by the Managing Director.

ENDS

For further information contact:

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.au

About Develop

Develop (ASX: DVP) has a twin-pronged strategy for creating value. The first of these centres on the exploration and production of future-facing metals. As part of this, the Company owns the Sulphur Springs zinc-copper-silver project in WA’s Pilbara region. This project is currently the focus of ongoing exploration to grow the inventory and various development studies. Develop also owns the Woodlawn zinc-copper project in NSW. Woodlawn, which is on care and maintenance, comprises an underground mine and a new processing plant. The second plank of Develop’s strategy centres on the provision of underground mining services. As part of this, Develop has an agreement with Bellevue Gold (ASX: BGL) to provide underground mining services at its Bellevue Gold Project in WA.