DEVEX RESOURCES LIMITED — Capital/Financing Update 2022

Aug 22, 2022

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23 August 2022

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

DevEx Resources Limited ( ASX:DEV or the Company ) advises that the Company issued the following fully paid ordinary shares ( Shares ):

1. 1,250,000 Shares were issued on 18 August 2022 following the exercise of 1,250,000 unlisted options exercisable at $0.135 on or before 28 November 2022.

2. 44,117,647 Shares were issued on 23 August 2022 to sophisticated and professional investors at an issue price of $0.34 per share. The 44,117,647 Shares were issued using the Company’s 15% placement capacity under Listing Rule 7.1 as announced on 17 August 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 section 674 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.

As previously announced, the Company has an ongoing drilling programme at the Nabarlek project in the Northern Territory. The information pertaining to this 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 the results or outcome of the analysis. The Company will release these results as they become available.

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

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Authorised for release on behalf of the Company by:

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Brendan Bradley Managing Director

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