DEVELOP GLOBAL LIMITED — Capital/Financing Update 2023

Jul 11, 2023

12 July 2023

ASX Market Announcements Office ASX Compliance Pty Ltd Level 40, Central Park 152-158 St Georges Terrace Perth WA 6000 Notice under section 708A(5)(E) of the Corporations Act 2001 (Cth) Develop Global Limited (ABN 28 122 180 205) (ASX: DVP) ( Develop or the Company ) advises that it has today issued 9,375,000 new fully paid ordinary shares ( New Shares ) at an issue price of $3.20 each to sophisticated and institutional shareholders under the institutional placement announced on 3 July 2023. Develop hereby provides notification under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Act ) of the issue of the New Shares. The Act restricts the on-sale of securities issued without disclosure unless the sale is exempt under section 708 or 708A of the Act. By the Company giving this notice ( Notice ), a sale of the New Shares will fall within the exemption in section 708A(5) of the Act and they will be able to be traded immediately. Develop advises that:

(a) Develop issued the New Shares without disclosure to investors under Part 6D.2 of the Act; (b) this Notice is being given under section 708A(5)(e) of the Act; (c) as at the date of this Notice, Develop has complied with: (i) the provisions of Chapter 2M of the Act as they apply to Develop; and (ii) sections 674 and 674A of the Act; and (d) as at the date of this Notice, there is no excluded information, within the meanings of section 708A(7) and 708A(8) of the Act.

This announcement was authorised for lodgement by the Board of Develop.

Ends For further information, please contact:

Investor Enquiries Media Enquiries Bill Beament Paul Armstrong DEVELOP Global Limited Read Corporate T: +61 8 6389 7400 P: +61 8 9388 1474 E: hello@develop.com.au E: info@readcorporate.com.au