#1POWERING UP EXPLORING IN AUSTRALIA'S HIGHEST-GRADE URANIUM PROVINCE Investor Presentation 31 March 2022 ASX: DEV X DevEx RESOURCES#2ப ப Important Information Forward Looking Statements This Presentation contains forward-looking statements which are identified by words such as 'may', 'could', 'believes', 'estimates', 'targets', 'expects', or 'intends' and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this Presentation, are considered reasonable. Such forward-looking statements are not a guarantee of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the Directors and the management. The Directors cannot and do not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this Presentation will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. The Directors have no intention to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this Presentation, except where required by law or the ASX listing rules. 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 Exploration Results for the Nabarlek Project are extracted from the ASX announcements titled "DevEx ramps-up exploration at Nabarlek Uranium Project, NT after identifying new high-grade targets" released on 29th September 2021; "Large drill target defined below Nabarlek Uranium Mine, West Arnhem Project, NT" released on 9th October 2018; . • • "Technical review recognises strong similarities between U40 prospect and the Coronation Hill U-Au-PGE deposit" released on the 9th May 2019; "UEQ Identifies High Grade Copper-Gold and Base Metal Potential at NT Uranium Prospects" released on the 4th October 2017; and "Higher Uranium Grades Returned from U40 Prospect - Nabarlek" released on the 16th December 2010, all of which are 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 to shareholders and investors. 2#3Exploring Australia's discovery hot-spots Sovereign Project PERTH Nabarlek Uranium Project North Cobar Project Junee & Basin Creek Projects ○ SYDNEY • • ● Alligator Rivers Uranium Province, NT . • . Nabarlek Project - Targeting high-grade uranium, and copper-gold surrounding the historical Nabarlek Uranium Mine (24 Mlbs @ 1.84% U30 produced) One of very few ASX companies with high-grade uranium opportunities in Australia Multiple, shallow, near-mine, high-grade targets defined along strike from historic uranium intercepts such as 25m @ 0.32% U30, and 6m @ 7.6% U308 Julimar Complex, WA Exciting exploration opportunity in the emerging West Yilgarn Province Sovereign Project - 12km long differentiated mafic-ultramafic intrusion identified, consistent with upper portion of Julimar mafic-ultramafic intrusion Ground EM surveys currently underway Lachlan Fold Belt, NSW Expansive exploration campaigns underway in world-class copper-gold region: Junee Project: 16,000m RC, AC and diamond drilling programme underway in major copper-gold belt, host to Cadia-Ridgeway (Newcrest Mining) and Northparkes (China Molybdenum Co Ltd) North Cobar Project: Exploring the northern extension to the fault corridor hosting the Cobar Mining Centre (host to CSA Mine) 3#4Corporate Overview Capital Structure Shares Options Market Cap Cash1 Assets Board & Management Tim Goyder Brendan Bradley Bryn Jones Richard Hacker Kym Verheyen Major Shareholders 314.2M 15.2M Tim Goyder (Chairman) Top 20 17.5% 40.3% $141M (at 45c²) 0.80 $12.9M PhosEnergy Limited (5.3%) Patented technology to recover uranium from phosphate fertilizer 3 Chairman Managing Director Share Price ($) 0.70 0.60 0.50 0.40 0.30 0.20 Non Exec. Director 0.10 Non Exec. Director 0.00 Jan-21 Jul-21 Jan-22 Volume -DEV Company Secretary 1 Cash balance - 31 December 2021. Amounts and numbers have been rounded. 2 Closing price on 30 March 2022 3 https://www.phosenergy.com/ 10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 4 Volume ('000)#5Led by an experienced technical team Bryn Jones NON-EXECUTIVE DIRECTOR • Industrial Chemist with considerable experience in the operation and development of Hardrock and In- Situ uranium mines, including the Olympic Dam Expansion Project and Beverly Uranium Mine Managing Director of PhosEnergy Ltd, and Non Executive Director of Boss Energy Ltd and Australian Rare Earths Ltd Tim Goyder CHAIRMAN • • • Mining executive with a strong track record of successful investment and value creation Chairman of Liontown Resources Ltd Non Executive Director of Minerals 260 Ltd Director of Phos Energy Ltd DevEx's largest shareholder (17.5%) Brendan Bradley MANAGING DIRECTOR Geologist for 25+ years Extensive experience in exploration and development of epithermal gold deposits Highly experienced in intrusive related nickel- copper-PGE deposits Senior management at Perilya Ltd, Dominion Mining Ltd and Kingsgate Consolidated Ltd Andrew Faragher • PRINCIPAL GEO - NT Chris Torrey CHIEF GEOLOGIST NSW • • 25+ years of experience in exploration and resource development across multiple commodities Extensive experience exploring and developing uranium deposits in the Northern Territory and the Athabasca Basin, Canada Senior Management at Rio Tinto • 35+ years experience Broad experience in epithermal gold and porphyry copper-gold exploration and development in the Lachlan Fold Belt and abroad Former senior management with Golden Cross Resources Ltd, Silver City Minerals Ltd and Cyprus Minerals Corp 5#6Major uranium asset in Australia's highest-grade uranium province The Alligator Rivers Uranium Province, NT (ARUP) 8 700 000mN 200 000mE Vimy Resources Angularli 25.9Mlbs @ 1.29% U₂O² | +500 Million Pounds U3Og endowment (mined and current Resources 1,2) Close analogue to uranium deposits in the Athabasca Basin in Canada, incl.: Arrow (NexGen Energy Ltd) and Hurricane (IsoEnergy Ltd) Significant gold province "forgotten in time3,4" - unexplored DevEx's Nabarlek Project (100%) Centred on the historical Nabarlek Uranium Mine Production History: 24 Mlbs @ 1.84% U3O¹ DevEx holds a dominant ground position of +4,700km² Granted Tenure: Mining Lease and three exploration tenements Recent compilation and assessment of 50 years of exploration data Jabiluka (U,O,, Au) Nabarlek 24 Mlbs @ 1.84% U₂O, (Historical Production) 307 Mlbs UO, @ 0.55% U,O,2 1 Ranger (U,O) 269 Mlbs U₂O' 130 Mlbs @0.11% U₂OB Jabiluka Highway Koongara (U,o₁) Kakadu National Park Jabiru Strategically located in a well established uranium mining jurisdiction See Slide 17 for References. 8 500,000mN 50km U40 6m @ 7.6%U,O Caramal 400 000mE 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 2 Mineral Resource (JORC 2012) 012-018 6#7Uranium Spot Price US$/lb Nabarlek Project Time to Power Up 150 125- 100 75- 50 50 - 25 - Exploration Camp Nabarlek Mine Area Acquired Nabarlek Fukushima Event March 2022: US$59/lb 10 year high 2006 2008 2010 2012 2014 2016 2018 2020 2022 Source: TradeTech, www.uranium.info and Numerco Exploration centered on the historical Nabarlek Uranium Mine Well established infrastructure and support network Positive working relationships with traditional owners Exploration activities were building momentum prior to uranium's downturn post 2011 ....time to power up! 7#8Nabarlek Project: Exploring for high-grade uranium Near-mine uranium exploration focus: Multiple uranium prospects to explore Nabarlek South Prospect: Drilling to test beneath a cluster of high- grade uranium intercepts Nabarlek Pit Prospect: • Drilling to test NE edge of the uranium pit Uranium-Copper-Gold Fault Corridors: Zeus to U40 - KP Prospect – Nabarlek "look-alike" NABARLEK MINE 24Mlbs @1.84% U₂O (PRODUCED) Gabo Fault SMLB Overload 0.3m @ 2.0% U,O,, 0.7g/t Au 320 000mE U40 Prospect 6m @ 7.6% U₂O, 2.0% Cu, 0.7g/t Au 12.3m @ 0.7% U,O,, 2.0% Cu, 1.8g/t Au incl. 4.8m @ 1.9% U₂O, 3.2% Cu, 4.5g/t Au North Fault North Buffalo Nabarlek South 25m @ 0.32% U₁O incl. 2.0m @ 1.0% U₂O and 3.0m @ 1.0% U,O, Multiple drill-ready, high-grade uranium prospects on the doorstep of Australia's highest grade uranium mine.... RC & Diamond Drill Holes UO, ppm (max assays) >1000 500 1000 <500 RAB/Aircore Holes All weather airstrip & camp Excised DevEx Tenure Mining License Unconformity KP Prospect Coopers 20m @ 0.2%U,O,, 0.45g/t Au incl. 7m @ 0.3% U₂O, 1.2g/t Au Nabarlek Fault Zone U42 330 000mE U40 to Zeus Underexplored Copper-Uranium Trend Zeus Broad Copper Intercepts (Open) 18m @ 0.2% Cu from 38m 98 645 000 mN 8635 000 mN Kombolgie Sandstone Black Bream Granite Outcrop 0.2m @ 2.8% U₂O Basement Geology 5km 006-19 8#9S The Nabarlek Deposit: Where it's all about the grade!! 9700mN 9750mN N Section 9725mN Pre-mining surface 0.1/1 0.5/12.9 1.7/25 19/1.2 0.6/14.9 00.7/11 1.1/11 1.9/17 0.1/0.8 0.8/9.8 1.5/25 1.6/17.1 0.1/1.5 0.4/8.2 0.9/11 1.1/10.4 0.3/8 00.3/2 2.3/28.1 1.1/26 3.5/11 0.9/16.8 0.4/11.8 4.3/12 1.7/12 1.2/10.3 12.5/7.1 0.2/1.8 2.5/7.7 2.7/15.6 9.6/16 0.9/12.7 1.7/12 0.4/11,7 0.9/9.1 0.1/0.8 0.1/0.3 8.4/12.5 9.4/8.5 11.9/15 0.8/10.2 0.5/11.5 0.3/2.8 2.8/17.4 3.9/18.8 0.2/1 2.4/12 1.2/15.9 6.5/13.5 1.5/13.5 13.5/19.2 6.7/17.5 8.8/11 0.9/5.4 14/6.9 0.2/1 7.3/1.2 7.6/22.1 16.9/10.2- 11.4/12.5 0.5/7.6 1.11/15.9 8.4/13.3 0.6/8.4 2.6/1.8 0.2/1 0.6/3.4 0.2/0.7 0.1/2.3 Cahill Formation 0.4/0.4 Pit outline (mined) 40mRL 40mRL- % U₂O, x metres 80mRL Cahill Formation NAD87 NAR140 10,100mE NAR200 1.1%/11 0.6%/14.9 Six Fault 0.3%/8 NAD052 NAD209 2.7%/15.6 9.6%/16 13.5%/19.2 NAD028 NAD193 10,140mE NAD120 0.0%/2 0.2%/0.7 6.7%/17.5 1.1%/15.9 0.2%/0.7 • North Fault 0.7/1.5 25m Dolerite 1-3 3-30 > 30 % U₁₂O/metres Nabarlek Pit (North) Long Section Legend Downhole Intercepts %U₂O₂/metres Nabarlek Shear North Fault 20m Dolerite Nabarlek uranium mineralisation: Significant concentration of uranium mineralisation mined from the pit Strong Structural Control: Strong control to high-grade uranium mineralisation adjacent to the North Fault • Near-Mine Exploration: DevEx is targeting extensions to the Nabarlek Uranium Deposit ASX: DEV Announcement - 9th October 2018. See slide 10 for location of cross section NAD220 NAD003 NAD053 Pit outline (mined) Nabarlek Uranium Mine Section 9725 mN 9 NAD145#10Nabarlek Project: Multiple high-grade uranium occurrences Nabarlek Pit Prospect The highest uranium grades mined from the Nabarlek pit were adjacent to the North Fault Pre-mining (1972) ground radiometric survey identified: • The mined portion of the uranium mineralisation at Nabarlek A north-east tail extending away from the Nabarlek pit along the untested North Fault Historical drilling has not tested this north- east orientation Drilling planned to test the north-eastern edge of the Nabarlek pit... 8 638 500mN 8 639 000mN Nabarlek Pit 317 500mE 24Mlbs @ 1.84% U308 (production history) North Fault Section 9725N Mining Tenement MLN962 250m Untested Uranium exploration potential along North Fault Pit Outline • 318 000mE Creek DevEx Mineral Lease N 962 Historical Drilling Nabarlek Ground Radiometric Survey Pre-Mine (1972) Cpm >10000 (T2) 4000-10000 (T2) 100000 (T1) 4000 (T2) - 30000 15000 10000 5000 059-04 10 N#11Nabarlek Project: Surrounding Uranium Prospects HONO 320 000mE U40 Prospect 6m @ 7.6% U₂O, 2.0% Cu, 0.7g/t Au 12.3m @ 0.7% U₁O, 2.0% Cu, 1.8g/t Au incl. 4.8m @ 1.9% U,O, 3.2% Cu, 4.5g/t Au North Fault North Buffalo SMLB Nabarlek South Prospect Similar structural setting to Nabarlek Uranium Deposit Drilling planned beneath historical uranium intercepts NABARLEK MINE 24Mlbs @1.84% U₂O (PRODUCED) Nabarlek South Gabo Fault Overload 0.3m @ 2.0% U,O,, 0.7g/t Au Nabarlek South 25m @ 0.32% U₂O incl. 2.0m @ 1.0% U₂O and 3.0m @ 1.0% U₂O RC & Diamond Drill Holes U₂O₂ ppm (max assays) >1000 500 1000 <500 RAB/Aircore Holes 00 Excised DevEx Tenure Mining License Kombolgie Sandstone Unconformity Granite Outcrop Basement Geology KP Prospect Coopers 20m @ 0.2%U,O,, 0.45g/t Au incl. 7m @ 0.3% U,O, 1.2g/t Au Nabarlek Fault Zone U42 Black Bream 0.2m @ 2.8% U₁₂O8 5km 330 000mE Nu 000 8 645 U40 to Zeus Underexplored Copper-Uranium Trend 11 Zeus Broad Copper Intercepts (Open) 18m @ 0.2% Cu from 38m 00 mN 8 635 000 m 006-19 11#12• Nabarlek South Prospect: Cluster of high-grade uranium intercepts 1 km south of the Nabarlek Uranium Mine · • Uranium mineralisation associated at junction of Nabarlek Fault (host to the Nabarlek uranium deposit) and Gabo Faults A cluster of high-grade uranium intercepts defines a north-east plunging uranium shoot Priority Drill Target: diamond drilling planned to drill within and down plunge from these intercepts Nabarlek South - 3D View of drilling looking south west NANND0034 8m @ 0.47% U3O8 inc. 2m @ 1.3% U3O8 NANND0029 24m @0.21% U₂O 22m @ 0.21% U308 incl. 3.1m @ 0.6% U3O8 NARD6017 25m @ 0.32% U₂O incl. [email protected]% U₂O and 3.0m @ 1.0% U₂O High Grade 50m Scale U₂O8 Drill I Target 50m 50m E N Gabo Fault Nabarlek Fault NARD6016 14m @ 0.19% U₂O 20m @0.17% U3O8 incl. 1.1m @ 1.0% U308 U₂O,% x Metres (down hole) <0.1 0.1 to 1 1 to 4 >4 12#13Nabarlek Project: Surrounding Uranium Prospects Eastern Nabarlek Prospects 32 JOOML U40 Prospect 6m @ 7.6% U₂O, 2.0% Cu, 0.7g/t Au 12.3m @ 0.7% U30, 2.0% Cu, 1.8g/t Au incl. 4.8m @ 1.9% U,O, 3.2% Cu, 4.5g/t Au North Fault North Buffalo SMLB Eastern Nabarlek Prospects Similar structural setting to Nabarlek Uranium Deposit Exploration and drilling planned: along strike from historical uranium-copper intercepts to test undrilled surface anomalies NABARLEK MINE 24Mlbs @ 1.84% U₂O (PRODUCED) 38 Gabo Fault Overload 0.3m @ 2.0% U₂O, 0.7g/t Au Nabarlek South 25m @ 0.32% U3O8 incl. 2.0m @ 1.0% U₂O and 3.0m @ 1.0% U₂O RC & Diamond Drill Holes U₂O ppm (max assays) >1000 500-1000 <500 RAB/Aircore Holes Excised DevEx Tenure Mining License Kombolgie Sandstone Unconformity Granite Outcrop KP Prospect Coopers 20m @ 0.2% U,O,, 0.45g/t Au incl. 7m @ 0.3% U,O,, 1.2g/t Au Nabarlek Fault Zone Black Bream 0.2m @ 2.8% U₂O Basement Geology 5km U42 300 000ML U40 to Zeus Underexplored Copper-Uranium Trend Zeus Broad Copper Intercepts (Open) 18m @0.2% Cu from 38m 006-19 8635 000 mN 86 8 645 000 m 13#14Nabarlek Project: Adjacent Nabarlek-type uranium-copper-gold corridors Nabarlek East Prospects: • Impressive database of 25,000 Radon Track Etch [radon] samples throughout project Technique works - led to discovery of uranium mineralisation at multiple prospects, including U40 Prospect Exploration and drilling planned for: • Zeus to U40 Corridor - south-east of high-grade uranium-copper-gold intercepts - KP Prospect – Undrilled radon anomaly in similar structural position to Nabarlek deposit 006-17 North Fault Gabo Fault 5km 325 000mE KP Prospect Strong Radon Anomaly "No Drilling" 330 000mE U40 Prospect 6m @ 7.6% U₂O, 2.0% Cu, 0.7g/t Au 12.3m @ 0.7% U₂O, 2.0% Cu, 1.8g/t Au incl. 4.8m @ 1.9% U₂O, 3.2% Cu, 4.5g/t Au > U40 to Zeus Underexplored U42 0 Zeus Broad Copper Intercepts (Open) 18m @ 0.2% Cu from 38m -Zeus Section D C Radon Track Etch Survey (1989-90) picoCurie/litre/day >750 250 to 750 RC & Diamond Drill Holes UO, ppm (max assays) >1000 500 1000 <500 Excised DevEx Tenure Mining License Kombolgie Sandstone Unconformity Granite Outcrop Basement Geology RAB/Aircore Holes 14 8 640 000 mN 8 645 000 mN#15• DevEx Next Steps Nabarlek -> Highly credentialed team assembled with real uranium exploration and development experience Drilling of priority targets (application to drill submitted to NT Regulator) to commence first half of top-end dry season 2022, including: - Nabarlek Pit Edge - Nabarlek South - Zeus to U40 Corridor ~8,000m of RC/diamond drilling of priority targets Geochemical (radon-cup) anomalies advancing to drill ready status Drilling scheduled for June/July Sovereign • Ground EM surveys over the mafic-ultramafic intrusion currently underway Junee • ~16,000m RC/diamond and AC programme underway Nabarlek Pit circa 1980 15#16NA1 X DevEx RESOURCES Contact Details Level 3, 1292 Hay Street West Perth WA 6005, Australia +61 8 6186 9490 +61 8 6186 9495 [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] 16#17Appendix References Nabarlek Project - Slide 6: 1. Production History: McKay, A.D & Miezitis, Y. 2001. Australia's uranium resources, geology and development of deposits. AGSO - Geoscience Australia, Mineral Resource Report 1. ERA Annual Production Reports 2001 to 2018. 2. Mineral Resource: Vimy Resources (ASX:VMY) Mineral Resource Statement 20 March 2019. Energy Resources of Australia Ltd (ASX:ERA) Annual Statement of Reserves and Resources January 2018. 3. Hancock M C, Maas R, Wilde AR 1990 - Jabiluka Uranium-Gold deposits: in Hughes F E (Ed.), 1990 Geology of the Mineral Deposits of Australia & Papua New Guinea The AusIMM, Melbourne Mono 14, v1 pp 785-793. 4. Carville D P, Leckie J F, Moorhead C F, Rayner J G, Durbin A A 1990 - Coronation Hill Gold-Platinum- Palladium deposit: in Hughes F E (Ed.), 1990 Geology of the Mineral Deposits of Australia & Papua New Guinea The AusIMM, Melbourne Mono 14, v1 pp 759-762. 17