DEVEX RESOURCES LIMITED — Capital/Financing Update 2023

Oct 8, 2023

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9 October 2023

Proposed issue of Unlisted Options

DevEx Resources Limited (ASX: DEV) (“DevEx” or the “Company”) advises that the Board has resolved to issue a total of 5,000,000 unlisted options to Directors of the Company ( Options ), under the terms and conditions of the Company’s Employee Securities Incentive Plan as set out below (“ the issue ”).

The issue of Options to Directors is subject to shareholder approval at the Company’s upcoming Annual General Meeting to be held on 24 November 2023. Further details will be provided in a notice of meeting to be issued in due course. The Company provides the following information in relation to the issue:

NameBrendan BradleyTim GoyderStaceyApostolouBryn JonesRichard Hacker	No. ofOptions tobe Issued1,500,0001,000,0001,000,000750,000750,000	Exerciseprice $0.520.520.520.520.52	VestingDate*ImmediatelyImmediatelyImmediatelyImmediatelyImmediately	Expiry Date24 November 202624 November 202624 November 202624 November 202624 November 2026

*Options will vest immediately subject to shareholder approval at the 24 November 2023 AGM.

The exercise price represents a 50% premium to the company’s one week volume weighted average price of 34.8 cents up to and including the 6 October 2023.

This announcement has been authorised for release by the Board.

For further information, please contact:

Brendan Bradley, Managing Director DevEx Resources Limited Telephone +61 8 9322 3990

For media inquiries, please contact:

Nicholas Read Read Corporate Telephone: +61 8 9388 1474

www.devexresources.com.au

T: +61 (0) 8 9322 3990 F: +61 (0) 8 9322 5800 E: info@devexresources.com.au

DevEx Resources Limited Level 2, 1292 Hay Street, West Perth WA 6005, Australia GPO Box 2890, Perth WA 6001