DevEx Resources (DEV) investor relations material

Strategy and market

• Long-term ambition: produce over 10Mlb of U3O8 annually across multiple assets, supported by exploration, acquisitions and partnerships.

• Strategy targets high-grade unconformity systems in the Northern Territory and growth assets in Australia and the Americas.

• Uranium term price was ~US$97/lb in mid-2026, its highest in over 18 years; a structural 30–50Mlb deficit is projected to widen through the late 2030s and beyond.

• Market drivers cited include AI and data-centre power demand, geopolitical supply constraints, 33 countries pledging to triple nuclear capacity by 2050, and Australia’s July 2026 uranium-export deal with India.

Northern Territory exploration

• Nabarlek Project consolidates a basin-scale position around the historical Nabarlek Mine, which produced 24Mlb at 1.84% U3O8; the project is in a territory with no prohibition on uranium mining.

• At KP, diamond hole DD4 intersected intense chlorite-haematite alteration at the unconformity and downhole gamma readings up to ~30ppm eU3O8; alteration strengthens northward.

• Nabarlek North drilling returned 1.7m at 1,116ppm eU3O8 and 2.3m at 920ppm eU3O8, including 0.8m at 1,361ppm; a potential Nabarlek-type structure remains open to the northwest.

• Caramal work identified a lower breccia that is poorly explored by drilling; targeting and permitting continue, alongside field work on emerging prospects and fault corridors.

• Planned work includes analysis of recent RC and diamond drilling, second-pass drilling, hyperspectral survey interpretation, advancing emerging targets and Murphy West activities planned for late October.

Capital and growth approach

• At 2 October 2026, capital structure included 710.3M shares, 40.7M options and performance rights, and a $120.8M market cap at $0.172 per share.

• Cash was $27.2M at 30 June 2026; investments included a 21.6% holding in Lachlan Star valued at ~$9.2M and a 4% holding in entX.

• Acquisition criteria prioritize advanced uranium projects in tier-one jurisdictions, deposit-scale potential, grade, straightforward processing, lower-quartile costs and risk-weighted timelines to production.

• Growth options include joint ventures, M&A and earn-ins, with capital from non-core investments providing additional strategic flexibility.

• Community strategy includes ongoing Nabarlek Mine rehabilitation, partnerships with Traditional Owners and local communities, and support for Indigenous employment programs.