Abstract: This paper presents our work on the SemEval-2023 Task 10 Explainable Detection of Online Sexism (EDOS) using lexicon-based models. Our approach consists of three main steps: lexicon construction based on Pointwise Mutual Information (PMI) and Shapley value, lexicon augmentation using an unannotated corpus and Large Language Models (LLMs), and, lastly, lexical incorporation for Bag-of-Word (BoW) logistic regression and fine-tuning LLMs. Our results demonstrate that our Shapley approach effectively produces a high-quality lexicon. We also show that by simply counting the presence of certain words in our lexicons and comparing the count can outperform a BoW logistic regression in task B/C and fine-tuning BERT in task C. In the end, our classifier achieved F1-scores of 53.34\textbackslash{}\% and 27.31\textbackslash{}\% on the official blind test sets for tasks B and C, respectively. We, additionally, provide in-depth analysis highlighting model limitation and bias. We also present our attempts to understand the model's behaviour based on our constructed lexicons. Our code and the resulting lexicons are open-sourced in our GitHub repository https://github.com/SirBadr/SemEval2022-Task10.