Deep Yellow Limited (ASX: DYL; OTCQX: DYLLF) (Deep Yellow or the Company) refers to the completion of the acquisition by the Company of Vimy Resources Limited (Vimy) by way of a scheme of arrangement (Scheme), as announced on 5 August 2022.

Unless otherwise indicated, capitalised terms used in this announcement have the meaning given to them in the Scheme booklet registered by ASIC on 16 June 2022 (Scheme Booklet).

As previously disclosed, the Company issued the New Deep Yellow Shares otherwise due to Ineligible Shareholders to a Sale Agent appointed to sell those shares so that the net proceeds of sale can be distributed to those who were Ineligible Shareholders in accordance with the process set out in the Scheme Booklet, under the Sale Facility.

The costs of the Sale Facility were borne by the Company. The Company is pleased to confirm that the Sale Agent has completed the Sale Facility for 651 Ineligible Shareholders. A total of 174,226 New Deep Yellow Shares were sold under the Sale Facility by the Sale Agent, representing approximately 0.02% of the Company's total issued capital. The New Deep Yellow Shares were sold on market at an average selling price of approximately A$0.7926 per New Deep Yellow Share. The Company expects that the net Sale Proceeds owing to those who were Ineligible Shareholders will be remitted (by cheque or deposit) on or about 19 August 2022. Ineligible Shareholders who have elected to receive their Sale Proceeds by cheque should allow time to receive their payment in the mail, given the current COVID-19 related postage delays.

If you require any further information in relation to the Sale Facility, please contact the Company's share registry, Computershare Investor Services Pty Limited on 1300 850 505 (within Australia) or +61 3 9415 4000 (outside Australia).

About Deep Yellow Limited

Deep Yellow is progressing its development through a combination of advancing its existing assets and expanding its opportunities for diversified growth through sector consolidation. With the merger and acquisition of Vimy, the expanded Deep Yellow now has two advanced uranium projects at feasibility stage located both in Namibia and Australia with the potential for production starting from the mid 2020's. In addition, with its expanded exploration portfolio, opportunity also exists for substantial increase of its uranium resource base aimed at building a significant global, geographically diversified project pipeline.

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