Deep Yellow Limited (ASX: DYL) (Deep Yellow or Company) advises that further to the announcement provided to the market on 23 December 2020, the Company has cancelled 2,413,700 ordinary shares previously issued to Directors and Staff as incentive loan shares which have not met the relevant vesting criteria.

The shares have been bought back by the Company and cancelled in accordance with the terms of the Deep Yellow Loan Share Plan.

Following the cancellation of these shares the Company has 253,988,386 ordinary shares on issue.

This ASX announcement was authorised for release by Mr Mark Pitts, Company Secretary, for and on behalf of the Board of Deep Yellow Limited.

Contact:

John Borshoff

Tel: +61 8 9286 6999

Email: john.borshoff@deepyellow.com.au

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