Deep Yellow Limited: A$140.5M Tranche 1 Placement Successfully Completed

Perth, Australia - Deep Yellow Ltd. (ASX:DYL) (FRA:JMI) (OTCMKTS:DYLLF) is pleased to confirm that Tranche 1 of the Placement announced on 11 March 2024 (Placement) has been successfully completed.

Accordingly, the Company has today issued 114,706,334 ordinary fully paid shares (Shares) to qualified, institutional, sophisticated and professional investors at A$1.225 per Share to raise approximately A$140.5M (before costs).

Commenting on the successful first tranche of the Placement, Deep Yellow's Managing Director & CEO, John Borshoff said:

"It is worth reiterating that the Placement, commencing with the completion of this Tranche 1, puts Deep Yellow in a strong financial position, ready to take on the next phase of the Company's growth.

"With our strong positioning, I feel shareholders will benefit greatly while we are building Deep Yellow into a company that I believe will become highly significant on the global uranium supply scene.

"We are confident in completing Tranche 2 of the Placement following a general meeting in or around late April 2024, and raising a further A$30M from the Share Purchase Plan, which will allow eligible shareholders to participate in this capital raising."

About Deep Yellow Limited:

Deep Yellow Ltd. (ASX:DYL) (OTCMKTS:DYLLF) is successfully progressing a dual-pillar growth strategy to establish a globally diversified, Tier-1 uranium company to produce 10+Mlb p.a.

The Company's portfolio contains the largest uranium resource base of any ASX-listed company and its projects provide geographic and development diversity. Deep Yellow is the only ASX company with two advanced projects - flagship Tumas, Namibia (Final Investment Decision expected in 1H/CY24) and MRP, Western Australia (advancing through revised DFS), both located in Tier-1 uranium jurisdictions.

Deep Yellow is well-positioned for further growth through development of its highly prospective exploration portfolio - ARP, Northern Territory and Omahola, Namibia with ongoing M&A focused on high-quality assets should opportunities arise that best fit the Company's strategy.

Led by a best-in-class team, who are proven uranium mine builders and operators, the Company is advancing its growth strategy at a time when the need for nuclear energy is becoming the only viable option in the mid-to-long term to provide baseload power supply and achieve zero emission targets.

Importantly, Deep Yellow is on track to becoming a reliable and long-term uranium producer, able to provide production optionality, security of supply and geographic diversity.

Source:
Deep Yellow Ltd.

Contact:

John Borshoff Managing Director/CEO T: +61-8-9286-6999 E: john.borshoff@deepyellow.com.au W: www.deepyellow.com.au Media: Cameron Gilenko T: +61-466-984-953 e: cgilenko@citadelmagnus.com