• Woodlawn site commissioning and upgrades ahead of schedule and on budget
• First saleable copper concentrate and production ore produced at Woodlawn mine
• Copper concentrate dispatched to port, first shipment scheduled for May 2025

Develop Global is pleased to report on a highly successful March quarter which has culminated in production of the first copper concentrate at its Woodlawn copper-zinc mine in NSW. This major milestone, which was achieved ahead of schedule and on budget, followed the rapid progress made on the plant upgrade during the quarter and the start of ore production. As a result, Woodlawn is on track for cashflow for the June quarter 2025, with first shipments scheduled for May. The company's Woodlawn Copper-Zinc Mine is in the world class Lachlan Fold belt in NSW, with a high-grade resource of 11.3Mt @ 1.8% Cu, 5.8% Zn, 2.1% Pb, 46gpt Ag & 0.5gpt Au and Reserves of 6.0Mt @ 1.5% Cu, 3.6% Zn, 1.3% Pb, 29gpt Ag & 0.4gpt Au. Major infrastructure, including the ball mill and copper flotation circuit, were successfully commissioned ahead of schedule, enabling 30,000 tonnes of copper ore to be processed through the copper circuit at a commissioning rate of 750,000 tonnes per annum. All copper concentrate produced through commissioning has been in the saleable specification range. Subsequent to the quarter's end, practical completion of the processing facility occurred with the crushing, zinc and lead circuits being handed over for commissioning, both ahead of schedule and on budget. Mine development also continued to progress well, with the first Kate Lens ore stopes successfully mined during the quarter and additional stopes outside of the life of mine plan geologically identified and added. The decline is also being rapidly extended and has reached the next two production lenses. The company's other projects, Sulphur Springs and Pioneer Dome, also saw progress during the quarter.

At current commodity prices, the first three years of post-ramp up production at Woodlawn is set to yield ~A$425m of pre-tax cashflow.