• Outstanding infill drilling results confirm high-grade lithium deposit suitable for DSO
• Initial assays exceed resource model, indicating strong potential for increased pricing
• All key regulatory approvals secured, positioning project for rapid development

Develop Global Limited announces positive infill drilling results for its Pioneer Dome lithium project in Western Australia, confirming the presence of a high-grade lithium deposit with low iron and mica content, suitable for Direct Shipping Ore (DSO) operations. The initial assays from the 20,000m grade control drilling program exceeded the resource model, with grades such as 32m @ 1.71% Li2O & 52ppm Ta2O5 from 64m. These results position Develop to finalize production profiles and economic studies in preparation for a potential Final Investment Decision (FID) next month. The FID is expected to be based on mining 850,000t of DSO from an open pit, with current market prices indicating plus-A$500/t. The project is well advanced, with all key regulatory approvals secured and major contract awards targeted post-FID. Develop is also progressing negotiations for a binding DSO offtake agreement and debt financing package, with indicative DSO pricing in the range of US$362/t to US$430/t CIF China.

850,000t DSO production targeted for June 2026 FID based on current market prices

Develop Global is confident in the solid business case for Pioneer Dome, highlighting the opportunity for substantial benefits from the strong lithium market. The company is moving quickly to set up the project as a potential DSO operation.