DEVEX RESOURCES LIMITED — Capital/Financing Update 2022

Nov 28, 2022

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29 November 2022

Section 708A(5) Cleansing Notice Placement Tranche 2 & Exercise of Options

DevEx Resources Limited ( ASX:DEV or the Company ) advises that the Company issued the following fully paid ordinary shares ( Shares ) on 25 November 2022 as set out in the Appendix 2A’s released on 25 November 2022:

1. 2,550,000 Shares were issued following the exercise of 2,550,000 unlisted options exercisable at $0.135 on or before 28 November 2022.

2. 2,132,841 Shares were issued following the exercise of 4,250,000 unlisted options exercisable at $0.135 on or before 28 November 2022 pursuant to the cashless exercise facility.

3. 6,544,118 Shares were issued to the Directors of the Company (or their nominees) at an issue price of $0.34 per share ( Placement Shares ). The Placement Shares were issued under the second tranche of the placement announced on 17 August 2022 and approved by shareholders at the Annual General Meeting held on 22 November 2022.

The Company gives this notice pursuant to section 708A(5)(e) of the Corporations Act 2001 (Cth) (the Act ):

• (a) the Company issued the Shares without disclosure to investors under Part 6D.2 of the Act;

• (b) as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company and sections 674 and 674A of the Act; and

• (c) as at the date of this notice, other than as set out below, there is no information that is 'excluded information' within the meanings of section 708A(7) and (8) of the Act that is reasonable for investors and their professional advisors to expect to find in a disclosure document.

Drilling has now ceased at the Nabarlek project in the Northern Territory. As the Company is awaiting assay results for a number of holes, the information pertaining to this drilling programme is currently incomplete, immaterial and not currently able to be released to the market in compliance with the Listing Rules and JORC Code. Accordingly, at this time, the information is not considered to be information that investors and their professional advisers would reasonably require for the purposes of making an informed assessment of the assets and liabilities, financial position and performance, profits and losses and prospects of the Company, or the rights and liabilities attaching to the Shares. The Company provides no statement or assurance regarding

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----- Start of picture text ----- www.devexresources.com.auT: +61 (0) 8 9322 3990F: +61 (0) 8 9322 5800DevEx Resources LimitedE: info@devexresources.com.auLevel 2, 1292 Hay Street, West Perth WA 6005, AustraliaGPO Box 2890, Perth WA 6001----- End of picture text -----

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the results or outcome of the analysis. The Company will release these results as they become available.

Authorised for release by the Board.

For further information, please contact:

Brendan Bradley, Managing Director DevEx Resources Limited Telephone +61 8 6186 9490

For media inquiries, please contact:

Nicholas Read Read Corporate Telephone: +61 8 9388 1474

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