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26 AUGUST 2026 ASX/TSX: PRU | WWW.PERSEUSMINING.COM
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PERSEUS MINING COMPETENT PERSON STATEMENT: All production targets referred to in this report are underpinned by estimated Ore Reserves which have been prepared by competent persons in accordance with the requirements of the JORC Code. The information in this report that relates to the Mineral Resources and Ore Reserves was updated by the Company in a market announcement “Perseus Mining updates Mineral Resources and Ore Reserves” released on 26 August 2026. The Company confirms that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, in that market release continue to apply and have not materially changed. The Company confirms that the material assumptions underpinning the estimates of Ore Reserves described in “Technical Report — Edikan Gold Mine, Ghana” dated 6 April 2022, “Technical Report — Yaouré Gold Project, Côte d’Ivoire” dated 18 December 2023, “Technical Report — Sissingué Gold Project, Côte d’Ivoire” dated 29 May 2015, and “Technical Report — Nyanzaga Gold Project, Tanzania” dated 10 June 2025 continue to apply. CAUTION REGARDING FORWARD LOOKING INFORMATION: This report contains forward-looking information which is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Assumptions have been made by the Company regarding, among other things: the price of gold, continuing commercial production at the Yaouré Gold Mine, the Edikan Gold Mine and the Sissingué Gold Mine without any major disruption, development of a mine at Nyanzaga, the receipt of required governmental approvals, the accuracy of capital and operating cost estimates, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used by the Company. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of gold, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. Readers should not place undue reliance on forward-looking information. Perseus does not undertake to update any forward-looking information, except in accordance with applicable securities laws. CAUTIONARY STATEMENTS 2
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PERSEUS MINING • First Climate Report published under AASB S2 • TRIFR 0.91 • Zero Lost Time Injury 3 FY26 - DELIVERING ACROSS ALL KEY METRICS SUSTAINABILITY (1) Operating Cash Flow is ‘Net cash inflows from operating activities’ within the Consolidated Statement of Cashflows less Dividends and withholding tax paid to Non-Controlling Interests during the period • New Dividend Policy – minimum 20% of operating cash flow(1) • Record shareholder returns – Full year dividend of 14 cents per share • Increased Share buyback to A$350M • Special Distribution of A$100M to be determined in coming months • Ore Reserves up 40% and Mineral Resources up 37% • Yaouré CMA UG first stoping operations commenced April 26 • Nyanzaga on track for first gold pour January 2027 • Record financial performance • Operating cash flow up 24% • Earnings per share up 17% GROWTH FINANCIAL PERFORMANCE SHAREHOLDER RETURNS
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PERSEUS MINING (1) Compared to FY25 (2) Cash Margin equals Average Sales Price minus All-in Site Cost (AISC). Notional Cashflow equals Cash Margin multiplied by Gold Produced and excludes CMA Underground Development Project. GOLD PRODUCED Down 91,553 oz(1) 404,998 oz ALL-IN SITE COST US$1,750/oz Up US$515/oz(1) AVG GOLD SALE PRICE Up US$1,150/oz(1) US$3,693/oz CASH MARGIN (2) Up $635/oz (1) US$1,943/oz NOTIONAL CASHFLOW(2) Up US$119M(1) US$769M NET CASH & BULLION Up US$207M(1) US$1,034M 2. 7 SAFETY TRIFR 0.91 Up 52%(1) 4 FY26 - DISCIPLINED OPERATING PERFORMANCE
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PERSEUS MINING 5 FY26 compared to FY25 REVENUE US$744M EBITDA(1) BASIC EARNINGS PER SHARE EARNINGS PER OUNCE(2) OPERATING CASHFLOW Up 17% Up 41% Up 24% Up 19% (US$236M) Up 27% Up 16% US$1.5B GROSS PROFIT FROM OPERATIONS US$861M PROFIT BEFORE TAX FINAL DIVIDEND Up A$4.0cps Up 27% US$716M US$1,20431.73cps US$666M A$9.0cps FY26 - STRONG FINANCIAL PERFORMANCE 1. Gross profit before depreciation and amortisation 2. Earnings per ounce is calculated as Profit after Tax divided by Gold Ounces Sold
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PERSEUS MINING 6 (1) Net cash inflows from operating activities (2) Operating cash flow per share is calculated as Net cash inflows from operating activities divided by weight average number of outstanding ordinary shares. (3) Operating cash flow per ounce is calculated as Net cash inflows from operating activities divided by ounces sold. OPERATING CASH FLOW FROM OPERATIONS US$666M(1) OPERATING CASH FLOW PER SHARE 49.38cps(2) OPERATING CASH FLOW PER OUNCE US$1,670(3) Up 26%Up 24% Up 54% FY26 - RESILIENT BALANCE SHEET POSITIONED FOR GROWTH NET CASH AND BULLION US$1,034M Up US$207M on FY25 LIQUIDITY US$1,434M US$400M undrawn debt LISTED SECURITIES US$233M
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PERSEUS MINING 7 (1) Split between dividend and capital reduction to be determined and to be announced to shareholders in the coming months. FINAL DIVIDEND A$9.0cps TOTAL FY26 DIVIDEND A$14.0cps A$187M +87% INCREASED DIVIDENDS PER SHARE UPSCALED BUYBACK RETURN OF FUNDS – SALE OF SUDAN FY26 BUYBACK EXECUTED A$127M FY27 BUYBACK APPROVED A$350M PROPOSED SPECIAL DISTRIBUTION (1) ~A$100M FY26 - RECORD RETURNS TO SHAREHOLDERS
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PERSEUSMINING.COMPERSEUS MINING 8 1. FY26 Full year dividends A$186.9M (US$128.7M) plus share buy back A$126.7 (US$89.2M) totaling A$313.6M (US$217.9M). 2. Share Buyback total A$126.7M in FY26 A$:US$ exchange rate of 0.7040 3. FY26 Full year dividends A$186.9M, 30 June 2026 a A$:US$ exchange rate of 0.6887 4. Split between dividend and capital reduction to be determined and to be announced to shareholders in the coming months. GROWTH – Development US$367M SUSTAINING CAPITAL US$29M BUYBACKS US$89M(2) DIVIDENDS US$129M(3) FY26 CAPITAL ALLOCATION CUMULATIVE DISTRIBUTIONS TO SHAREHOLDERS • Perseus has returned A$667M to shareholders • Special Distribution of A$100M • FY27 Upsize of Share buyback to A$350M RETURNING US$218M(1) TO SHAREHOLDERS GROWTH – Exploration US$41M
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PERSEUS MINING 9 RELIABLE OPERATING CASH FLOW Disciplined operational performance SUSTAINING CAPITAL BALANCE SHEET RESILIENCE Minimum liquidity(1) US$500M Undrawn debt US$400M HIGH YIELD GROWTH CAPITAL FY27 ~US$530M Nyanzaga $230M(2) Yaouré CMA $80M Edikan cutbacks $140M Exploration $70 - 80M FY27 US$50-60M Maintain commitment to employees, governments, communities, suppliers and lenders Grow production, extend mine life, disciplined capital investment focused on high yield returns Maintain strong balance sheet capacity through the cycle for strategic opportunities FY27 - ENHANCED CAPITAL ALLOCATION FRAMEWORK 1. Minimum Liquidity is Cash and Cash equivalents plus debt available for drawdown 2. US$230m includes US$60 million estimate for pre-production costs to be incurred before first gold pour Q3 27. 3. Net Cash Flow from operating activities less the Dividends paid to non-controlling interests (NCI) as per the audited Consolidated Statement of Cash Flow in the audited Annual Financial Statements. Safe, sustainable operations & asset integrity SUPPLEMENTAL RETURNS Via dividends, share buybacks or capital returns where there is capacity to pay SUSTAINABLE DIVIDEND Min 20% of Net Cash Flow from Operations(3) + Supplemental Returns
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PERSEUS MINING PERSEUSMINING.COM 10 GROUP ORE RESERVES 7 Moz up 40% GROUP M&I MINERAL RESOURCES 10.6 Moz up 37% PERSEUS MINERAL RESOURCES (1) PERSEUS ORE RESERVES(1) CONTINUED FOCUS ON ORGANIC GROWTH 5,003 1,767 217 19 -4 7,001 EOM June 2025 Nyanzaga Yaouré Edikan Sissingué EOM June 2026 koz Au 500 1,500 2,500 3,500 4,500 5,500 6,500 7,500 1. See ASX release “Perseus Mining Updates Mineral Resources and Ore Reserve Estimates” dated 26 August 2026. Resources include Measured and Indicated only US$70-80M exploration spend in FY27
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PERSEUSMINING.COMPERSEUSMINING.COMPERSEUS MINING Key work fronts achieved Progress (1) 64% is calculated based on US$311M divided by total FID construction and operational readiness budget of US$483M (2) Nyanzaga FID included 4.6M BCMs of preproduction stripping at a cost of US$$40M. ON TRACK – FIRST GOLD PROGRESS ACHIEVED TOTAL CONSTRUCTION COSTS INCURRED January 2027 67% US$311M (64%)(1) 11 Tusker Hill 11 NYANZAGA PROGRESSING TO PLAN Tusker Hill US$17M TOTAL PRE-PRODUCTION COSTS INCURRED PROCESS PLANT Procurement Completed, material deliveries at peak PROCESS PLANT INSTALLATION All Construction contractors mobilised TAILINGS STORAGE FACILITY Construction ahead of schedule, North and South-East embankments complete, South-West embankment >60%, basin prepared for liner installation RESETTLEMENT ACTION PLAN Successfully completed including handover of final community infrastructure PRE-STRIP Mining Resource pre-strip at Tusker Hill and Kilimani, 1.8M BCMs moved as at 30 June 2026. Expecting to move >7M BCM prior to first gold pour at a total cost of $70-80M(2) Process Plant- SAG Mill Feed
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PERSEUSMINING.COMPERSEUSMINING.COMPERSEUS MINING 12 12 FY 27 - GROUP GUIDANCE PARAMETER UNITS 2027 FINANCIAL YEAR (FORECAST) PRODUCTION Production(1) Ounces 420,000 - 480,000 AISC All-in Site Cost(2) USD per ounce 1,835 - 2,070 SUSTAINING CAPITAL Sustaining capital(3) USD million 50 – 60 DEVELOPMENT CAPITAL Development capital(4) USD million ~450 EXPLORATION Exploration USD million 70 – 80 1. Nyanzaga production included in guidance is based on FID as released in April 2025 - Refer ASX Release - Perseus mining proceeds with development of the Nyanzaga Gold Project. Further guidance for Nyanzaga will be provided in Q3 FY27. All operating costs for Nyanzaga are capitalised until Commercial Production planned for Q4 FY27. 2. AISC guidance is based on a gold price assumption of $4,000 per ounce and Government royalty rates of 8% in Côte d'Ivoire and 11% (applicable at $4,000 per ounce) in Ghana and has only been calculated on the three operating mines (excludes Nyanzaga). 3. Sustaining capital for Yaouré, Edikan and Sissingue is included in calculation of Guidance AISC provided in this table. 4. Comprises Nyanzaga $230M, Yaouré CMA UG $80M, Edikan cutbacks $140M 5. Refer Appendix 2 to this release for FY27 Guidance per operation
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PERSEUS MINING 13 Economic contributions US$ FY26 FY25 Economic value distributed 1.19B 813M Community contributions 5.17M 5.6M Local procurement 714M 545M Government payments and payables 384M 219M Workforce nationalisation 96% 94% Safety indicators FY26 FY25 TRIFR (Target – below 1) 0.91 0.60 LTIFR 0.00 0.08 BUILDING SAFER BEHAVIOURS DEEPENING OUR PARTNERSHIPS First AASB S2 Climate Report published Completed climate risk and opportunity assessment, including climate scenario analysis Improved roads, health and education infrastructures for Nyanzaga communities: lasting value delivered through our Resettlement Action Plan. FY26 SUSTAINABILITY PERFORMANCE
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PERSEUS MINING PERSEUSMINING.COM OUR INVESTMENT PROPOSITION 14 Cost focused culture Diversified African asset portfolio Growth prospects underpinned by US$1.4B of liquidity Track record of growth through exploration and M&A Proven development and operational excellence capabilities Delivering on promises – ‘We do what we say we are going to do’ PEER LEADING RETURN ON CAPITAL EMPLOYED PORTFOLIO DIVERSIFICATION BALANCE SHEET GROWTH VALUE CREATION PROVEN EXECUTION 1 2 3 4 5 6
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ASX/TSX: PRU | WWW.PERSEUSMINING.COM This presentation was authorised for release by Perseus’s Managing Director and CEO, Craig Jones
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ASX/TSX: PRU | WWW.PERSEUSMINING.COM
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PERSEUS MINING APPENDIX 1 - PERSEUS MINERAL RESOURCES & ORE RESERVES 17 JORC Ore Reserve1,2,4 JORC Mineral Resource1,4 PROJECT PROVED PROBABLE PROVED & PROBABLE QUANTITY Mt GRADE g/t gold GOLD '000 oz QUANTITY Mt GRADE g/t gold GOLD '000 oz QUANTITY Mt GRADE g/t gold GOLD '000 oz Edikan 12.7 0.87 355 20.2 0.99 643 32.9 0.94 998 Sissingué 1.0 1.34 43 4.1 1.43 190 5.1 1.41 233 Yaouré 12.4 0.73 292 29.1 1.46 1,369 41.5 1.24 1,661 Nyanzaga - - - 95.7 1.33 4,109 95.7 1.34 4,109 Total 26.1 0.82 690 149.1 1.32 6,312 175.2 1.24 7,001 PROJECT MEASURED RESOURCES INDICATED RESOURCES MEASURED & INDICATED RESOURCES INFERRED RESOURCES QUANTITY Mt GRADE g/t gold GOLD '000 oz QUANTITY Mt GRADE g/t gold GOLD '000 oz QUANTITY Mt GRADE g/t gold GOLD '000 oz QUANTITY Mt GRADE g/t gold GOLD '000 oz Edikan 21.2 0.89 604 68.2 0.88 1,923 89.4 0.88 2,528 16.7 1.0 544 Sissingué 1.7 1.23 66 10.8 1.37 475 12.5 1.35 541 2.1 1.0 64 Yaouré 12.4 0.73 292 45.6 1.75 2,565 58.1 1.53 2,857 32.3 1.5 1,591 Nyanzaga - - - 110.4 1.33 4,715 110.4 1.33 4,715 6.5 1.6 343 Total 35.3 0.85 963 234.9 1.28 9,677 270.3 1.22 10,640 57.5 1.4 2,542 Notes for Table 1 and Table 2: 1 Refer to Notes to individual tables of Mineral Resources and Ore Reserves in respect of each project presented below. See ASX release “Perseus Mining Updates Mineral Resources and Ore Reserve Estimates” dated 26 August 2026 2 Measured and Indicated Mineral Resources are reported inclusive of Ore Reserves. 3 Sissingué Mineral Resources and Ore Reserves include the Fimbiasso and Bagoé Projects in addition to the Sissingué Gold Mine. 4 The Company holds 90% of Edikan Gold Mine (EGM) and Yaouré Gold Mine (YGM), 86% of Sissingué Gold Mine (SGM) except Bagoé at 90%, and 80% of Nyanzaga Gold Project (NGP).
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PERSEUS MINING 18 APPENDIX 2 - FY 27 PRODUCTION, COST AND SUSTAINING CAPITAL GUIDANCE 1. Nyanzaga production included in guidance is based on FID as released in April 2025 - Refer ASX Release - Perseus mining proceeds with development of the Nyanzaga Gold Project. Further guidance for Nyanzaga will be provided in Q3 FY27. All operating costs for Nyanzaga are capitalised until Commercial Production planned for Q4 FY27. 2. AISC guidance is based on a gold price assumption of $4,000 per ounce and Government royalty rates of 8% in Côte d'Ivoire and 11% (applicable at $4,000 per ounce) in Ghana and has only been calculated on the three operating mines (excludes Nyanzaga). 3. Sustaining capital for Yaouré, Edikan and Sissingue is included in calculation of Guidance AISC provided in this table. FY27 Guidance Gold Production (koz) AISC (2) ($/oz) Sustaining Capital(3) ($M) Exploration ($M) Group 420 – 480 1,835 - 2,070 50 - 60 70 – 80 Yaouré 150 – 170 1,955 - 2,205 28 - 32 Edikan 150 – 170 1,700 - 1,920 15 - 17 Sissingué 65 – 85 1,865 - 2,105 5 - 7 Nyanzaga 55(1) 2 - 4