• Develop to complete underground mining contract at Bellevue Gold's mine in WA on 31 July 2026
• Demobilisation will release ~A$50 million worth of capital to be redeployed across Develop's business
• Develop to retain skilled underground mining team from Bellevue to support current and tendered contracts

Develop Global Limited (ASX:DVP) advises that it will complete its underground mining contract at Bellevue Gold's (ASX: BGL) mine in WA on 31 July, 2026. Develop sincerely thanks Bellevue for giving the Company the opportunity to establish its mining services division and wishes the Bellevue team every success with their mine. Completion of this contract will coincide with the scheduled start of underground mining at Core Lithium's (ASX: CXO) Finniss Lithium Project in the Northern Territory, where Develop has just been awarded a A$274 million three-year contract. The demobilisation of the electrical infrastructure, fixed plant and mobile mining fleet at Bellevue will release ~A$50 million worth of capital that is scheduled to be redeployed throughout the Develop business including setting aside fleet for currently tendered work to significantly lower the cost of capital to potential clients. As part of the demobilisation, Develop intends to retain the personnel it employed at Bellevue. This team includes some of the most skilled and experienced underground miners in Australia. Given the tight labour market, these people will be extremely valuable to Develop at its other current contracts as well as supporting tenders now underway. Develop also advises that work is now underway as part of its recently awarded five-year contract at OceanaGold's Waihi North Project in New Zealand.

Develop Managing Director Bill Beament said the company is operating in a very favourable contracting market and it is important to strike the right balance between delivering value for clients and returns for shareholders. Develop is preparing to move ahead rapidly with a DSO lithium operation at its Pioneer Dome project in WA, and is making strong progress at its Sulphur Springs project in the Pilbara, with a Final Investment Decision set for this quarter. Develop is also preparing tenders for mining services opportunities in response to inquiries from companies recognising the strength of its team and approach to mining and contracting.