Slide 1: Business Platform Built, Time to Supercharge the Growth
ASX: DVP For personal use only BUSINESS PLATFORM BUILT TIME TO SUPERCHARGE THE GROWTH • ENERGY TRANSITION METALS OWNERSHIP • UNDERGROUND MINING SERVICES COMPANY AGM PRESENTATION – NOVEMBER 2025
Slide 2: Important Information and Disclaimer
IMPORTANT INFORMATION AND DISCLAIMER The information contained in this document (“Presentation”) has been prepared by DEVELOP Global Limited (“Company”). This Presentation is being used as a presenter’s aid with summarised information. See DEVELOP’s other and periodic disclosure announcements lodged
Slide 3: Platform to be the Pre-eminent Copper / Base Metals Company on the ASX
For personal use only WE HAVE ESTABLISHED A GREAT PLATFORM TO BE THE PRE-EMINENT COPPER / BASE METALS COMPANY ON THE ASX WITH UNIQUE CAPABILITY TO DEVELOP AND UNLOCK OPPORTUNITIES 3
Slide 4: Develop 5-Year Business Plan
DEVELOP 5-YEAR BUSINESS PLAN WHAT’S BEEN ACHIEVED IN FIRST HALF For personal use only HYBRID BUSINESS MODEL: MINE OWNERSHIP AND MINING SERVICES BUSINESS UNITS Build world-class Be one of the most Produce some of Aim for annual Mining Services underground ESG responsible the world’s metal output of i
Slide 5: Business Capital Structure - Significant Value Creation in Only 3 Years
BUSINESS CAPITAL STRUCTURE - SIGNIFICANT VALUE CREATION IN ONLY 3 YEARS For personal use only ASX STOCK SHARE MARKET CASH – 30 ENTERPRISE CODE PRICE CAPITALISATION SEPTEMBER 2025 VALUE DVP A$ 3.33 A$1.1B 330m shares on issue A$ 204M A$1.0B A$107m in Project Debt • Woodlawn Copper and Undrawn equipme
Slide 6: Our Flagship Asset Is Our People
OUR FLAGSHIP ASSET: IS OUR PEOPLE For personal use only • The mines of the future will be underground • Demand for underground skills is soaring • Develop’s Executives have one of the largest networks of underground personnel in the Australian industry (+10,000) • Develop has built its world class u
Slide 7: Woodlawn
For personal use only WOODLAWN COMMISSIONING/RAMP-UP, EXPANDING PRODUCTION AND GROWING MINE LIFE 7
Slide 8: A Quality Project for the Energy Revolution: Processing Status
A QUALITY PROJECT FOR THE ENERGY REVOLUTION PROCESSING STATUS For personal use only • Plant commissioning well advanced, now into the final quarter of the ramp up phase • The “recipe” is now set; Commissioning stabilization program complete with metal recoveries tracking well compared to forecasts M
Slide 9: Underground Mining Progress
A QUALITY PROJECT FOR THE ENERGY REVOLUTION UNDERGROUND MINING PROGRESS For personal use only • Monthly development rates for a single jumbo well above the restart schedule (Sept quarter averaged 500m per month for a single jumbo) • Capital development for first 3 years of ore production has been co
Slide 10: Woodlawn - Production Growth Options
A QUALITY PROJECT FOR THE ENERGY REVOLUTION WOODLAWN – PRODUCTION GROWTH OPTIONS For personal use only • Investigate stages of production growth via mill expansion scenarios from 0.85Mtpa up to 1.35Mtpa • Utilise two jumbos to accelerate capital development and access more production areas ($20m fro
Slide 11: Woodlawn - Accelerate Growth
A QUALITY PROJECT FOR THE ENERGY REVOLUTION WOODLAWN – ACCELERATE GROWTH For personal use only • Project "DM15"; Targeting 15-year mine life • Woodlawn is significantly under-explored relative to other similar Tier-1 VMS Projects • Resources and Reserves are currently contained within ~900m from sur
Slide 12: Sulphur Springs: Accelerating Development
For personal use only SULPHUR SPRINGS ACCELERATING DEVELOPMENT 12
Slide 13: Sulphur Springs Zinc-Copper Project Updated Definitive Feasibility Study
A QUALITY PROJECT FOR THE ENERGY REVOLUTION SULPHUR SPRINGS ZINC-COPPER PROJECT UPDATED DEFINITIVE FEASIBILITY STUDY For personal use only • High-grade Zinc and Copper Development Project located in a Tier 1 mining district of Western Australia • Project Resource of 17.4Mt @ 5.8% Zn, 1.0% Cu & 21gpt
Slide 14: Accelerate Sulphur Springs Zinc-Copper Project
A QUALITY PROJECT FOR THE ENERGY REVOLUTION ACCELERATE SULPHUR SPRINGS ZINC-COPPER PROJECT For personal use only Box cut complete, twin declines started, UG service workshop set up, site infrastructure locations cleared RESTRICTED 14
Slide 15: Sulphur Springs - Accelerate Growth
A QUALITY PROJECT FOR THE ENERGY REVOLUTION SULPHUR SPRINGS – ACCELERATE GROWTH For personal use only • Project "DM15"; Is designed to accelerate mine life extensions. Targeting 15-year life • Sulphur Springs Resource contains; 13.8Mt @ 1.1% Cu, 5.7% Zn & 22.5gpt Ag • Majority of Sulphur's Resources
Slide 16: Pioneer Dome Lithium Project
WORLD-CLASS UNDERGROUND CAPABILITY PIONEER DOME LITHIUM PROJECT For personal use only • Mineral Resource of 11.2Mt @ 1.2% Li2O contained within three pegmatites • Pioneer Dome Project located in the Eastern Goldfields, 150km south of Kalgoorlie and 270km north of the Esperance port • Mt Marion, Bald
Slide 17: Mining Services Is Key to Achieving the Business Plan
OUR PEOPLE ARE OUR FLAGSHIP ASSET WORLD-CLASS UNDERGROUND CAPABILITY For personal use only MINING SERVICES IS KEY TO ACHIEVING THE BUSINESS PLAN Underground capability enables Develop to build its business organically; Mining Services accelerates this CULTURE CAPABILITY CASHFLOW 01 02 03 Recruited k
Slide 18: Investment Highlights
INVESTMENT HIGHLIGHTS The platform is set for Develop to establish itself as the pre-eminent copper / base For personal use only metals company on ASX Our people are proven mine builders, operators and significant wealth creators Ramping up the Woodlawn Copper-Zinc Mine to nameplate 850Ktpa stea
Slide 19: Producing Potential
V/ LOr PRODUCING POTENTIAL DEVELOP.COM.AU
Slide 20: Resources Tables
PATHWAY TO CASHFLOW RESOURCES TABLES For personal use only BASE METALS LITHIUM-TANTALUM Resource SULPHUR SPRINGS Resource Category Tonnes (Mt) Li2O% Ta2O5 ppm Fe2O3% SULPHUR SPRINGS PROJECT Tonnes (Mt) Cu % Pb % Zn % Ag gpt Au gpt PIONEER DOME NORTH Category Cade, Davy & DOME Indicated 8.6 1.23 55 0
Slide 21: Ore Reserves Tables
PATHWAY TO CASHFLOW ORE RESERVES TABLES For personal use only BASE METALS Ore Reserve Ore (Mt) Cu % Pb % Zn % Ag gpt Au gpt SULPHUR SPRINGS Estimate SULPHUR SPRINGS UG Proved - - - - - - UG Probable 8.8 1.1 0.2 5.4 20.6 0.1 UG Total 8.8 1.1 0.2 5.4 20.6 0.1 Ore Reserve WOODLAWN Ore (Mt) Cu % Pb % Zn