Ann: Trading Halt, page-34

30 May 2023 DEEP YELLOW RESPONSE TO NAMIBIA MEDIA ARTICLE

Deep Yellow Limited (Deep Yellow or Company) refers to an article titled “Namibia considers taking stakes in Mining and Petroleum Companies” that appeared yesterday on the Bloomberg newswire service. Deep Yellow interreacts constantly with relevant Government Ministries and Departments and advises that it is not aware of any elevated discussions with industry regarding Government equity in mining projects. In Deep Yellow’s experience, all matters affecting the Namibian mining industry are consistently dealt with through the Chamber of Mines, of which Deep Yellow is an active member, and are worked through with Government using a detailed and orderly process involving proposals, submissions, discussions and negotiations that have invariably resulted in mutually acceptable outcomes. Deep Yellow, through its extensive experience operating in Namibia, has deep confidence that the Namibian Government fully understands the value of foreign investment. Deep Yellow also recognises and accepts the need for local ownership and, as previously reported, has between 5% and 10% of its various projects held by local Namibian equity partners, including the Tumas Uranium Project. The Company will advise investors of any change to the current situation.