#1POWERING UP AT NABARLEK A NEW PHASE OF URANIUM EXPLORATION IN THE WORLD-CLASS ALLIGATOR RIVERS URANIUM PROVINCE Investor Presentation 30 September 2021 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#3Strong Foundations with Extensive Upside Potential: High-impact exploration in proven mineral regions Capital Structure Shares Options Market Cap Cash1 Assets 308M Major Shareholders Tim Goyder (Chairman) Top 20 17.3% 41% $98.5M (at 32c²) 15.3M Board & Management Tim Goyder Brendan Bradley $16.6M PhosEnergy Limited (5.3%): 6.1M Shares (unlisted) https://www.phosenergy.com/ Bryn Jones Richard Hacker Kym Verheyen Chairman Managing Director Non Exec. Director Non Exec. Director Company Secretary 1 Current cash balance - 30 June 2021. Amounts and numbers have been rounded. 2 Closing price on 28th September 2021 3#4Led by an invested and highly motivated team... Supported by an experienced technical team and board Bryn Jones NON-EXECUTIVE DIRECTOR • Industrial Chemist with extensive experience in the uranium industry Experienced in the technical evaluation, construction and operation of projects in various commodities 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 Chalice Mining Ltd and Liontown Resources Ltd Non Executive Director of Minerals 260 Ltd Director of PhosEnergy Ltd DevEx's largest shareholder (17.3%) 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 Richard Hacker NON-EXECUTIVE DIRECTOR Chris Torrey CHIEF GEOLOGIST NSW • • Chartered Accountant (ICAA) and Chartered Secretary 20+ years corporate and commercial experience in the energy and resources sector Executive for Chalice Mining Ltd • 35+ years experience Extensive 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#5Exploring in Australia's discovery hot-spots • Alligator Rivers Uranium Province, NT Nabarlek Project - Exploring for high-grade uranium, and copper-gold surrounding the historical Nabarlek Uranium Mine (24 Mlbs @ 1.84% U3O8 produced) Project-wide targeting exercise and field work underway of multiple uranium prospects within the Company's granted tenements Sovereign Project Nabarlek Uranium Project North Cobar Project Julimar Complex, WA Strong strategic position in the emerging West Yilgarn Province – Chalice Mining's high-grade palladium-nickel discovery highlights the opportunity Sovereign Project - 12km long differentiated mafic-ultramafic intrusion identified, consistent with upper portion of Julimar mafic-ultramafic intrusion Exploration gathering momentum with expanded ground EM survey and stratigraphic diamond drilling planned to commence in October PERTH Junee & Basin Creek Projects ○ SYDNEY ● Lachlan Fold Belt, NSW Expansive exploration campaigns underway in a world-class copper-gold region, with ground tightly held by major miners: Junee Project: Advancing exploration in proven copper-gold belt, host to Cadia-Ridgeway (Newcrest Mining) and Northparkes (China Molybdenum Co Ltd) Basin Creek Project: Large gold and copper system defined in central Lachlan Fold Belt region North Cobar Project: Exploration ground holding north of the Cobar Cu-Au Mining Centre 5#6Major uranium asset in Australia's highest-grade uranium province 8 700 000mN 200 000mE Angularli 25.9Mlbs @ 1.29% U3O2 | U40 400 000mE 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 The Alligator Rivers Uranium Province, NT (ARUP) . +500 Million Pounds U3Og endowment (mined and current Resources 1,2) Significant gold province "forgotten in time³,4" – unexplored DevEx's Nabarlek Project (100%) Centred on the historical Nabarlek Uranium Mine 1 Production History: 24 Mlbs @ 1.84% U308¹ DevEx holds a dominant ground position of +4,700km² including Granted Tenure: 1 Mining Lease and three exploration tenements Recent compilation and assessment of 50 years of exploration data Jabiluka (U,O₂, Au) Nabarlek 24 Mlbs @ 1.84% U₂O, (Historical Production) 307 Mlbs U3O, @ 0.55% U₂O Ranger (U,O) 269 Mlbs U₂O 130 Mlbs @ 0.11% U₂O Jabiluka Highway Koongara (U.O.) Kakadu National Park Jabiru Multiple new uranium exploration drill targets beneath and along trend from historical high-grade intercepts See Slide 15 for References. 8 500 000mN 50km Caramal Black Bream 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 1 Production History Mineral Resource (JORC 2012) 6#7Nabarlek Project: Exploring for high-grade uranium .. 320 000mE 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% U₂O, 3.2% Cu, 4.5g/t Au North Fault North Buffalo SMLB 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 MINE 24Mlbs @ 1.84% U₂O (PRODUCED) 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% U,O, Multiple drill-ready, high-grade uranium prospects on the doorstep of Australia's highest grade uranium mine.... RC & Diamond Drill Holes U₂O ppm (max assays) >1000 500 1000 <500 RAB/Aircore Holes Excised DevEx Tenure Mining License Kombolgie Sandstone 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 330 000mE NW 000 8 645 0 Underexplored Copper-Uranium Trend U40 to Zeus Q: U42 Black Bream Granite Outcrop 0.2m @ 2.8% U₂O Basement Geology 5km Zeus Broad Copper Intercepts (Open) 18m @ 0.2% Cu from 38m Nu 000 8 635 006-19 7#8S The Nabarlek Deposit: Where it is 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 0.7/1.5 0.4/0.4 Pit outline (mined) 40mRL 40mRL- % U₂O, x metres 1-3 3-30 80mRL Cahill Formation NAD87 NAR140 10,100mE NAR200 1.1%/11 NAD052 NAD209 0.6%/14.9 0.3%/8 Six Fault 2.7%/15.6 9.6%/16 13.5%/19.2 NAD028 NAD193 10,140mE NAD120 0.0%/2 0.2%/0.7 NAD220 6.7%/17.5 1.1%/15.9 0.2%/0.7 • North Fault 25m Dolerite > 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 9 for location of cross section NAD003 NAD053 Pit outline (mined) Nabarlek Uranium Mine Section 9725 mN 8 NAD145#9Nabarlek 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 has identified: • • The mined portion of the uranium mineralisation at Nabarlek A north-east tail extending away from the Nabarlek pit along the 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 24 Mlbs @ 1.84% U308 (production history) North Fault Section 9725N Mining Tenement MLN962 250m A 4 a Exploration Target Potential Uranium 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 9 059-04 N#10Nabarlek 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 10#11Nabarlek 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: Application to drill priority diamond drill holes awaiting approval from the NT Resources Regulator 50m 50m Scale E N Gabo Fault K NANND0034 8m @ 0.47% U3O8 inc. 2m @ 1.3% U3O8 NANND0029 24m @0.21% U₂O 22m @ 0.21% U308 incl. 3.1m @ 0.6% U₂O Nabarlek Fault NARD6017 25m @ 0.32% U₂O incl. [email protected]% U₂O and 3.0m @ 1.0% U₂O High Grade U₂O8 Drill I Target 50m 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 Nabarlek South - 3D View of drilling looking south west 11#12Nabarlek Project: Surrounding Uranium Prospects Eastern Nabarlek Prospects 320 0 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% U₂O, 3.2% Cu, 4.5g/t Au North Fault Nth Buffalo SMLB Ղ 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% U₂O8 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 12#13Nabarlek 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 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 KP Prospect Strong Radon Anomaly U42 "No Drilling" 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 13 8 640 000 mN 8 645 000 mN#14DevEx Next Steps 12-month Exploration Strategy All-weather bitumen airstrip next to Nabarlek allows for field work to continue through the wet season: . Follow-up mapping and surface sampling of uranium, copper, gold prospects surrounding Nabarlek Uranium Mine - commenced Drilling of priority targets to commence beginning of top-end dry season 2022 Discovery Opportunities: Well-funded to accelerate and maintain exploration momentum across all projects 14#15Additional 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. 4. - Hancock M C, Maas R, Wilde A R 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. 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. 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]