DevEx Resources (DEV) Investor Update summary

Market outlook, positioning, and strategy

• Uranium demand is projected to outpace supply by 2040, driven by global nuclear reactor construction, clean energy needs, and increased demand from AI and data centers, with major tech companies investing in nuclear power.

• The company is a leading uranium explorer in the Northern Territory and one of few ASX-listed uranium explorers in Australia, offering unique sector exposure.

• Aggressive exploration and acquisition strategy targets underexplored, high-potential uranium assets, with a focus on portfolio growth.

• Well-funded with over GBP 7.8 million and up to $32.2M in cash, supported by a strong shareholder base and experienced management.

• Nuclear energy is recognized as a safe, scalable, zero-emission power source, with 438 reactors operating and 62 under construction worldwide.

Exploration activities, key projects, and updates

• Field-based exploration has commenced across a 16,000 sq km uranium portfolio in the Northern Territory, focusing on high-grade unconformity-style deposits at Nabarlek, Big Radon, KP, and new prospects.

• Ground gravity and geochemical surveys are underway to refine drill targets, with drilling at Big Radon, KP, and Angularli Fault Zone planned for 2025, supported by a $160,000 NT Government grant.

• The Nabarlek Project covers 6,200km², includes the historical Nabarlek Uranium Mine (24Mlbs @ 1.84% U3O8), and targets high-grade mineralisation in multiple fault corridors.

• Murphy West Project is advancing with airborne geophysics, surface sampling, and geochemistry on large uranium anomalies up to 2km long, under three earn-in agreements covering ~10,000km².

• Preparations are underway for maiden exploration at Sandfire and Spitfire Prospects on the Angularli Fault Zone, with ground gravity surveys and community engagement planned.

Community, ESG, and regulatory engagement

• Strong relationships with Traditional Owners are maintained, with employment programs and ongoing engagement.

• The company has a positive track record in environmental rehabilitation at historical sites, including the Nabarlek Mine.

• Regulatory support in the Northern Territory is robust, with efficient permitting and co-funding for exploration.

• Strong relationships with government and local communities ensure efficient project execution.