• First shipments of copper, zinc and lead concentrate from Woodlawn mine
• Substantial earthworks commenced at Sulphur Springs Zinc-Copper Project
• Record FY25 revenue of A$212.3m for Develop Mining Services division

Develop Global Ltd has reported a pivotal quarter, with the company undertaking commissioning at the Woodlawn Copper-Zinc Mine in NSW, starting earthworks at the Sulphur Springs Zinc-Copper Project in WA, and implementing a high-growth strategy aimed at delivering rapid value creation. Key highlights include: - Woodlawn Mine: First shipments of copper, zinc and lead concentrate delivered, with 12,689t of concentrate produced in the June quarter. Commissioning is progressing to plan and ramp-up is on track. - Sulphur Springs Project: Substantial earthworks commenced during the quarter, with the underground decline development brought forward to commence in the September 2025 quarter. An updated definitive feasibility study is scheduled for completion in the December 2025 quarter. - Develop Mining Services: Recorded revenue of A$51m for the quarter, with a record FY25 revenue of A$212.3m. - Corporate: The company raised A$180m (before costs) via a share placement to pursue its aggressive growth strategy and bring forward value creation opportunities. Develop also cancelled the potential sale of a minority interest in the Woodlawn mine as part of this accelerated growth strategy.

Develop expects to achieve nameplate throughput capacity of 850ktpa at the Woodlawn mine, and is targeting a mining rate of 1 million tonnes per annum of ore production. The company also plans to undertake an extensive underground drilling program at Woodlawn comprising over 50km of diamond drilling over the next 12-18 months, with the aim of further growing the mine life to 15 years.

Develop is pursuing an aggressive growth strategy to rapidly expand mine lives, production, and deliver growth opportunities across its asset portfolio. This includes investigating mill expansion scenarios at Woodlawn, accelerating capital development and exploration programs, and evaluating potential satellite operations to increase mill feed. The company also intends to create substantial additional value by extending the mine life at Woodlawn and Sulphur Springs.