#1Investor Presentation SEPTEMBER 2019 ASX: DEV X DevEx RESOURCES#2Important Information Forward Looking Statements This Presentation may include statements that could be deemed "forward-looking statements". Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those expected in the forward-looking statements or not take place at all. No offer to sell or invitation to buy This Presentation is not, and should not be considered to, constitute any offer to sell, or solicitation of an offer to buy, any securities in DevEx Resources Limited, and no part of this Presentation forms the basis of any contract or commitment whatsoever with any person. DevEx Resources Limited does not accept any liability to any person in relation to the distribution or possession of this Presentation from or in any jurisdiction. Disclaimer Whilst care has been exercised in preparing and presenting this Presentation, to the maximum extent permitted by law, DevEx Resources Limited and its representatives: make no representation, warranty or undertaking, express or implied, as to the adequacy, accuracy, completeness or reasonableness of this Presentation; accept no responsibility or liability as to the adequacy, accuracy, completeness or reasonableness of this Presentation; and accept no responsibility for any errors or omissions from this Presentation. Competent Person Statement The information in this Presentation that relates to the Exploration Results for the West Arnhem-Nabarlek Project, Nabarlek Prospect and U40 Prospect are extracted from ASX announcements entitled "Drilling intersects uranium mineralisation beneath the historical Nabarlek Open Pit and at U40 opening up new discovery opportunities" released on 10th September 2019, "Technical Review Recognises Strong Similarities Between U40 Prospect and the Coronation Hill U-Au-PGE Deposit " released on the 9th May 2019, "Large Drill Target Defined Below Nabarlek Uranium Mine, West Arnhem Project, NT" released on the 9th October 2018, "Uranium-Copper-Gold Drill Target Defined at West Arnhem Project, NT" released on the 12th September 2018, "Multiple Priority Drill Targets Identified at West Arnhem Copper-Gold-Uranium Project, NT" released on the 6th December 2017, "UEQ Identifies High-Grade Copper-Gold and Base Metal Potential at NT Uranium Projects" released on the 4th October 2017 and "Higher Uranium Grades Returned from U40 Prospect – Nabarlek Project, Northern Territory" released on the 16th December 2010, all of which are available on www.devexresources.com.au. The information in this Presentation that relates to Exploration Results for the Junee Project are extracted from the ASX announcement titled "New copper and gold mineralisation supports potential for large-scale porphyry system at Junee, NSW" released on 11th September 2019 and "DevEx Further Expands Potential of Junee Copper-Gold Project, NSW with Identification of Additional Porphyry Targets" released on the 5th March 2019 and "Porphyry Copper-Gold Targets Identified at Junee Project, Lachlan Fold Belt, NSW" released on the 24th January 2018, all of which are available on www.devexresources.com.au. The information in this Presentation that relates to Exploration Results for the Bogong Project is extracted from the ASX announcement titled "Porphyry- hosted copper-gold targets identified in maiden exploration program at Bogong Project, Lachlan Fold Belt, NSW" released on 1st August 2019 and "Copper-Gold Targets Identified at Bogong Project, NSW❞ released on the 22nd May 2018 which is available on www.devexresources.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant original market announcement. □ Exploration by Other Explorers This presentation contains information sourced from the reports of Other Explorers. References to the original reports are provided as footnotes where the information is cited in this presentation. The Company does not vouch for the accuracy of these reports. The Company has taken the decision to include this information as it is in the public domain and has assessed it to be of relevance 2 to shareholders and investors.#3The Company . 39 • Hunting for major porphyry copper-gold deposits in NSW . • Fresh projects in the premier Lachlan Fold Belt Significant copper intercepts drilled decades ago, but never followed up Shallow, drill-ready targets identified Large-scale discovery potential in a district with known, massive copper- gold endowment (Northparkes, Cadia-Ridgeway) Active exploration with ground IP geophysics imminent to refine targets ahead of drilling in Q4 2019 One of a few ASX companies drilling for high-grade uranium · • District-scale project in Australia's premier uranium province Strong leverage to recovering uranium market · Market cap of just ~$10M Led by a proven and experienced team • Invested and highly motivated 3#4• West Arnhem Nabarlek Project PERTH Junee Project Bogong Project West Arnhem Nabarlek Project URANIUM, COPPER-GOLD SYDNEY Located in the Alligator Rivers Uranium Province NT, host to large scale uranium deposits: Ranger Mine +200Mlbs U3O8; Jabiluka +300Mlbs U308 New drilling program confirms uranium mineralisation beneath historical Nabarlek Mine - Australia's highest-grade uranium mine: 24Mlbs @ 1.8% U3O8 (mined out) and at U40 Prospect Limited pool of ASX-listed uranium explorers Q4 2019: review of historical EM data to refine targets for further drilling . . • Bogong Project COPPER-GOLD Fresh opportunity - no exploration for +45 years Potential for substantial copper-gold discovery enhanced by recent fieldwork and supported by historical drilling Porphyry-hosted copper-gold targets identified with copper-sulphides (chalcopyrite and bornite) at surface. Rock chip results up to: 10% Cu and 0.47g/t Au Significant shallow historical drilling intercepts: 54.9m @ 1.1% Cu from 6.1m; 9.2m @2.0% Cu from 39.6m Open-ended copper-gold system over >500m of strike. September 2019: Ground IP geophysics to assist with drill targeting Junee Project COPPER-GOLD Recently recognised as part of Macquarie Arc - host to massive porphyry copper-gold deposits such as Northparkes / Cadia-Ridgeway No drilling for +20 years = underexplored in a world-class region New fieldwork provides further evidence of a major, widespread porphyry copper-gold system Collective results confirm the NSW Geological Survey's review that rocks within the Project are prospective for large-scale porphyry systems Q4 2019: Induced Polarisation (IP) geophysics to prioritise drill targets 4#5Bogong and Junee Copper-Gold Projects NEW SOUTH WALES > Large scale porphyry copper-gold potential, tightly held by major miners Significant ground position, rapidly advancing drill targets#66 100 000mN 6 300 000mN A New Copper-Gold Exploration Strategy in New South Wales N 500 000mE Gilmore Suture Tomingley 0.8 Moz Au Northparkes 3.8 Moz Au, 3,372 kt Cu 700 000mE Alkane Resources Ltd Boda Prospect 502m @0.48g/t Au, 0.2% Cu³ Parkes Copper Hill Orange 1.6 Moz Au, 610 kt Cu Cowal 6.1 Moz Au Marsden 1.2 Moz Au, 716 kt Cu Yiddah 0.5 Moz Au, 457 kt Cu Gidginbung 1.4 Moz Au, 27.8 kt Cu The Dam 0.6 Moz Au, 141 kt Cu JUNEE PROJECT Wagga Wagga Mount Adrah 0.7 k oz Au Cadia Ridgeway 37.2 Moz Au, 78, 107 kt Cu McPhillamys 2.3 Moz Au Gundagai BOGONG PROJECT Canberra Large Resource Development Mining Operation Junawarra Volcanics Junee Narromine Belt Macquarie Arc 100km 1 GSNSW East Riverina Mapping Project - Some Highlights and Implications, Eastlake and Trigg. 2: ASX: DEV announcement 1-Aug-19 and 22-May-18 3. Alkane Resource Ltd ASX Announcement 9-Sept-19 . • A Fresh Opportunity No drilling within a globally-recognised copper-gold region for decades Bogong and Junee Projects strategically located in the Lachlan Fold Belt - a major geological province hosting several of Australia's largest deposits including Cadia- Ridgeway and Northparkes Bogong: Significant near-surface, broad copper sulphide intercepts in historical drilling², including: • [email protected]% Cu from 6.1m; and 9.2m @2.02% Cu from 39.6m Junee: DevEx's mapping and targeting supports the Geological Survey's (GSNSW)1 review that the rocks within the Project are the southern extension of the Junee Narromine Volcanic Belt and are prospective for porphyry copper-gold deposits such as: • • Cadia-Ridgeway - Newcrest Mining Limited Northparkes Mine - China Molybdenum Co. Ltd. Cowal Mine - Evolution Mining Ltd. Major explorers within the southern Junee-Narromine Volcanic Belt Newmont Goldcorp Exploration Pty Ltd | Freeport-McMoran Exploration Australia Pty Ltd | Evolution Mining Limited | Sandfire Resources NL | St Barbara Limited 6#7. Bogong Project: On-ground field work commenced 1974 - HISTORICAL: Soil Geochemistry 1974 AOG Drilling > 15m depth < 15m depth Significant Intercepts Historical Mining Granite Greywacke & Siltsone Serpentinite Rhyolitic Volcanics Basic Volcanics Creek Copper in Soil Anomaly 100 ppm Cu +200 ppm Cu 627 000mE +200 ppm Cu 100 ppm Cu о 9.1m @ 0.39% Cu 18.3m @ 0.43% Cu A A' Section 18.3m @0.91% Cu 54.9m @ 1.06% Cu 9.2m @ 2.02% Cu June 2019 Mapping 500m 628 000mE A 627 500mE 627 540mE 6 081 000mN 6 082 000mN • Significant near-surface, broad copper intercepts in historical . drilling, including: 54.9m @ 1.06% Cu from 6.1m; and 9.2m @ 2.02% Cu from 39.6m Copper sulphide mineralisation hosted within felsic porphyry rocks • No assaying for gold in drilling Copper mineralisation extended over 500m strike length * ASX: DEV announcement - 22-May-18 (intercepts are down-hole, true width and orientation is unknown) PDH006 18.3m @ 0.91% Cu 54.9m @ 1.06% Cu Bogong Project PDH016 PDH017 3.1m @ 0.53% Cu PDH030 627 580mE 600mRL 560mRL 9.2m @ 2.02% Cu 61m 61m 61m Holes ended in mineralisation A.O.G Minerals 1974 Drilling 2019 - DEVEX 61m >0.1% Cu >0.3% Cu 40m Project-scale exploration campaign underway; Drilling planned for Q4 2019 A' 7#86 081 400mN 6.081 600mN 100m Bogong Project: Broad system of copper-gold mineralisation identified 627 400mE -OPEN 100 ppm Cu 500m 000 851 0.1% 0.7% 1.2% +200 ppm Cu 0.1% PDH006 • PDH016 PDH017 65 PDH030 627 600mE Creek A' Section 4.5% 0.5% 2.3% 0.7% 0.8% 60 Examples of Chalcopyrite Examples of Bornite No outcrop 65 No outcrop 5.4% AOG (1974) Copper in 2.0% Soil Anomaly AOG Drilling > 15m depth 0 < 15m depth Rock Chips Cu % A <0.1% 0.1-1.0% ▲ > 1% ▲ 6.5% 1.9% 10.7% Prospective Corridor Historical workings Mapped Outcrop Summary Feldspar porphyry Felsic Volcanic (qtz veins) Sediments Siltstone Ultramafic Volcanics Mafic - Intermediate . New rock-chip assays of up to 10% Cu and 0.47g/t Au, associated with a porphyry containing copper-sulphide (chalcopyrite and bornite) Combined exploration data indicates an open-ended copper-gold system extending over more than 500m of strike and ~100m in width This has not been followed up with modern day geophysics or drilling September 2019: Now planning for ground IP geophysics to assist with drill targeting * ASX: DEV announcement - 1-Aug-19 8#9Junee Project: In the hunt for a Cadia-Ridgeway style copper-gold discovery 575 000mE 580 000mE • Junee Project remains underexplored, with no exploration drilling for +20 years Cooba Monzonite N • • • . 60km NW of Bogong Project, forming part of DevEx's larger exploration strategy in the Lachlan Fold Belt Project-scale +20km of prospective strike Geophysical modelling and geological review by DevEx confirms potential for additional buried porphyry copper-gold style mineralisation Several large-scale drill targets now defined, including: • Billabong Creek • Billabong North • Nangus Road; Riversdale North, West and East Prospects 2019 exploration provides further evidence of a widespread porphyry copper-gold system *ASX: DEV announcement 5-Mar-19 6 120 000mN 6 125 000mN Gilmore Suture Murrumbidgee RNe 2.5km Billabong North 383 Billabong Creek Riversdale North A 3990 Nangus Road Riversdale West Jododex (1981) Rockchips 1-2% Copper in Monzonite B Riversdale East 585 000mE DevEx Granted EL Target defined from magnetics Peko (1991) Shallow RAB Structures Jodex Rockchips +1% Copper ☐ North drilling (1995) EL8622 Junee#101 Nangus Road Prospects • Shallow surface sediments masking outcrop 2 Riversdale East and West Prospects • • Broad magnetic anomaly of similar size and amplitude to the magnetic anomaly which maps the copper-gold bearing monzonite intrusion at Cooba¹ Modelling of the magnetic response indicates that the top of the magnetic anomaly is ~200-300m deep A 580 500mE 581 000mE Geopeko (1991) RAB Ended in Cover Sediments Hole 399 A' . Copper in porphyry outcrop: two rock chip samples assayed 1.2% and 2.0% copper (malachite) Drilling targeting the magnetic anomaly intersected minor copper sulphide veins within Monzonite. Drilling stopped short of testing the main magnetic target Riversdale East: interpreted to represent a complex series of magnetic anomalies associated with the monzonite porphyry complex 0 mRL -200 mRL -400 mRL Nangus Rd Target 500m 1 Located north of Company's tenement MagSusc (SI × 10^-6) 20000 15000 10000 5000 0 B 6 117 000mE 6 118 000mE MagSusc (S) x 10.6) 40000 30000 Jododex (1981) Rock Chips 1-2% Copper in Monzonite North (1995) Drilling Hole RP2 copper sulphide veins (minor) peak assay 2m @ 0.15% Cu, 80ppm Mo Sediment RP2 River 58m 49m 100m " Manzonite 10 Riversdale 20000 10000 Cover Sands and Gravels 0 B' Riversdale East 1km 0 mRL 1 -200 mRL 10#11. • 3 Billabong Creek and Riversdale North Prospects 2019 mapping and rock chip sampling identifies new copper and gold mineralisation Riversdale North: . • Assays and mapping identified oxidised chalcopyrite associated with epidote veins and alteration, including a gold + base metal gossan assaying 2.81g/t Au, 0.4% Cu and 1.3% Pb Consistent with the large-scale porphyry copper-gold systems like those seen at Northparkes and Cadia Ridgeway Billabong Creek / North: • • Mapping identified a partially oxidised chalcopyrite (copper sulphide)-bearing breccia immediately adjacent to the eastern side of the porphyry, with rock chips ranging from 0.2% to 0.5% copper Although not extensive on surface, the source of the copper within the breccia supports the potential for a buried porphyry system at depth Shallow historical RAB drilling not an effective test 5m @ 0.28g/t Au, 1,125ppm Zn 578 000mE 5m @ 0.28g/t Au, 1,125ppm Zn Billabong North 383 Porphyry Target Epidote Alteration - Veins Structures Rock Chip Sampling Cu ppm >3000 1,000 - 3,000 300-1,000 100-300 <100 Breccia near Monzonite Up to 0.5% Cu Billabong Creek 580 000mE lo Nangus Road N Transported Sands Transported Sands Gossanous Vein 2.8g/t Au 4.0% Cu 1.3% Pb Riversdale North] 0399 A 6 122 000mN 6 120 000mN Peko (1991) Shallow RAB 2km 11#122019+ Forward Plan... • Bogong Copper-Gold Project Significant copper-gold system of >500m strike identified in maiden 2019 exploration program Following this strong start, planning is underway for ground IP geophysics in September 2019 Drilling then planned to test IP targets beneath historical drill intercepts in Q4 2019 Junee Copper-Gold Project Expanded fieldwork has identified new significant copper, gold and base metal mineralisation Follow-up testing including Induced Polarisation (IP) geophysics planned to prioritise drill targets Progressing towards drilling in Q4 2019 West Arnhem Nabarlek Project 2019 drilling campaign completed and identified uranium mineralisation beneath the historical Nabarlek Open Pit and at U40 • DevEx reviewing previous electromagnetic (EM) to refine targets for future drilling 12#13Experienced exploration and development team – invested and motivated Tim Goyder CHAIRMAN Perth-based mining investor with a strong record of successful investment and value creation in the Australian and international resources sector. Currently the Executive Chairman of Chalice Gold Mines Ltd and Chairman of Liontown Resources Ltd. Brendan Bradley MANAGING DIRECTOR A Geologist with 20+ years of mineral exploration, mining and resource development experience on Australian and International projects - Battle Mountain, Perilya, Dominion Mining and Kingsgate, across a broad range of geological settings. Richard Hacker NON-EXECUTIVE DIRECTOR A Chartered Accountant (ICAA) and Chartered Secretary, with 20+ years corporate and commercial experience in the energy and resources sector. Currently the CFO for Liontown Resources Ltd & Chalice Gold Mines Ltd Bryn Jones NON-EXECUTIVE DIRECTOR Experienced in the technical evaluation, design, construction and operation of projects in various commodities. Currently Technical Director of Boss Resources Ltd, Director of Salt Lake Potash Ltd and MD of PhosEnergy Ltd. 13#14Corporate Overview Capital Structure Shares Fully diluted Options Major Shareholders ~133M Tim Goyder (Chairman) 25% ~139M Calm Holdings 6% 55.6% Market Cap Cash* Assets Board & Management Tim Goyder Brendan Bradley Bryn Jones ~6.8M ~$10M (at 7.5c) ~$1.16M PhosEnergy Limited (8.8%) -3.45M shares Chairman Managing Director Non Exec. Director Top 20 Richard Hacker Non Exec. Director Rebecca Broughton Company Secretary *As at 30 June 2019 14#1539 Appendix Uranium, Copper-Gold Projects >#16West Arnhem Nabarlek Uranium, Copper-Gold Project NORTHERN TERRITORY >> High-grade uranium-copper-gold opportunity in a proven Uranium system One of a few ASX companies drilling for high-grade uranium#17Exploring in Australia's high grade uranium province The Alligator Rivers Uranium Province (ARUP) 8 700 000mN 200 000mE Angularli 25.9Mlbs @ 1.29% U₂O . +500 Million Pounds U3Og endowment (mined and current Resources) • • 8 Comparable to the Athabasca Basin, Saskatchewan (*1.2Blb U308) Significant potential exists for Gold-PGE Copper deposits DevEx's Tenure . DevEx holds a dominant ground position of +5000km² Centered on the historical high grade Nabarlek Uranium Mine - Australia's highest grade uranium mine - 24 Mlbs @ 1.84% U308¹ Agreements with Traditional Owners already in place (1 mineral lease and 3 granted exploration licences) Jabiluka (U,O,, Au) Nabarlek 24 Mlbs @1.84% U,O (Historical Production) 307 Mlbs UO, @ 0.55% U₂O² Ranger (U,O) 269 Mlbs U₂O¹ 130 Mlbs @ 0.11% U₂O Jabiluka Highway Koongara (U.O.) Kakadu National Park Jabiru New drilling intersects uranium mineralisation beneath the historical Nabarlek Open Pit and at U40 opening up new discovery opportunities 8 500,000mN 50km U40 400 000mE 6.3m @ 1.9% Cu, 0.7g/t Au, 7.2% U₂O 12.3m @ 2.0% Cu, 1.8g/t Au, 0.7% U₁₂OB Incl. 2.6m @ 8.1g/t Au, 2.5g/t PGE Caramal Namarrkon Maningrida Road Coronation Hill U₂O + Au + PGE ○ Prospect Gold Deposit Uranium Deposit EL Applications Granted EL's and ML Cainozoic Cover McArthur Basin Sandstone & Volcanics Pine Creek Basin/Cahill Fm Granite Outcrop Production History Mineral Resource (JORC 2012) 1. Australia's Uranium resources, geology and development of deposits, AGSO 2007 2. DEV ASX Announcement - 9-May-19 17#181 Nabarlek Prospect: 2019 drilling confirms uranium mineralisation Cahill Formation · New drilling confirms uranium mineralisation beneath Nabarlek Open Pit - Australia's highest grade uranium mine: 24 Mlbs @ 1.84% U308 Anomalous uranium-gold mineralisation identified below the Oenpelli Dolerite. Best intercept: 0.3m @ 525ppm U308 and 0.25g/t Au Mineralisation style bears a strong similarity to that seen in close proximity to the historical Nabarlek deposit - suggesting the potential for a discovery nearby This fault breccia is poorly tested and open to the south 8,800mN South East OmRL -200mRL ● 0 ⚫ 0.01 -0.1 0.1-0.3 0.3 3.0 3.0-10 10-30 >30 9,400mN Nabarlek Pit (mined out) 24Mlbs @ 1.84% U₂O North Fault Dolerite 10,000mN North West 0.3m@525ppm U₂O 8 Target ☐ X Section 9490mN Nabarlek Shear Intercepts (metres x % U₂O) Chargeability (mV/V) 10 8 O 2019 RC and Diamond Drilling Alteration in Deep Drilling 6 Strong 4 ☐ Moderate 2 Weak 0 Cahill Formation 200m * DEV ASX Announcement 10-Sept-19 and 9-Oct-18 18#19• • . 1 Nabarlek Prospect: A new opportunity for high-grade Nabarlek-style discovery New targets identified for follow-up drilling at intersection of breccia and graphitic sediments Uranium mineralisation lies in close proximity to graphitic sediment Graphitic sediment provides excellent host rock properties for uranium mineralisation DevEx is now reviewing previous electromagnetic data to refine targets --200mRL Section Window 9490mN (Looking North) --300mRL Pyrite 441m Graphitic Sediments Refining targets for future drilling * DEV ASX Announcement 10-Sept-19 50m 549m 19NBDD0001 Nabarlek F6 Breccia 400 19NBDD0002 Oenpelli Dolerite 400 450 AVA 0.3m @525ppm U₂O, Sulphide (pyrite) Silicified Breccia Target at intersection of Breccia and Graphitic Sediments 500 Cahill Formation 10 200mE 10 300mE 19#20NA1 X DevEx RESOURCES Contact Details Level 2, 1292 Hay Street West Perth WA 6005, Australia +61 8 9322 3990 +61 8 9322 5800 [email protected] www.devexresources.com.au https://twitter.com/DevExResources https://www.linkedin.com/company/devex-resources/ Investor Relations Read Corporate Nicholas Read +61 8 9388 1474 [email protected]