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27 OCTOBER 2026 ASX/TSX: PRU
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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 andOre Reserve was updated by the Company in a market announcement “PerseusMining updates Mineral Resources andOre Reserves” releasedon 26 August 2026. The Company confirms thatall material assumptions underpinningthose estimates andthe production targets,or the forecast financial information derived therefrom,in that market release continueto 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. 2 CAUTIONARY STATEMENTS
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PERSEUS MINING PERSEUSMINING.COM 3 (1) Starting from 1 July 2026, TRIFR for operations and projects are no longer separated so the number includes statistics across the whole Group (2) Cash Margin equals Average Sales Price minus All-in Site Cost (AISC). Notional Cashflow equals Cash Margin multiplied by Gold Produced. (3) Zero debt, US$400 million undrawn debt GOLD PRODUCED Down 16,462 oz (1) 92,551 oz ALL-IN SITE COST US$2,035/oz Up US$94/oz(1) AVG GOLD SALE PRICE Down US$205/oz(1) US$3,881/oz CASH MARGIN (2) Down $299/oz(1) US$1,846/oz NOTIONAL CASHFLOW(2) Down US$45M(1) US$171M NET CASH & BULLION Down US$134M(1) US$900M (3) SAFETY TRIFR 1.01(1) SEPTEMBER QUARTER OPERATING PERFORMANCE
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PERSEUS MINING • CMA Underground – Commercial production achieved on 1st July 2026. • Sales - 40,009oz at a weighted average price of US$3,845oz. • FY27 guidance 150–170koz at an AISC of US$1,955–2,205/oz. • Production is weighted to H2 as the open pit accesses higher grade ore and CMA Underground production increases 4 OUNCES PRODUCED 36.6koz(1) Down 6% on Q4 AISC US$2,393(2)oz Up 5% on Q4 (1) Ounces produced includes ounces produced from open pit operations and the CMA Underground. (2) Calculation of AISC includes CMA Underground costs and gold produced. (3) Notional Cash Flow Margin and Notional Cash Flow includes CMA Underground production cost and revenue on CMA Underground gold sold. YAOURÉ GOLD MINE – SEPTEMBER QUARTER PERFORMANCE NOTIONAL CASH MARGIN US$1,452(3)oz Down 12% on Q4 NOTIONAL CASH FLOW US$53M(3) Up 6% on Q4
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PERSEUS MINING 5 OUNCES PRODUCED 35.8koz Down 15% on Q4 AISC US$1,738oz Down 11% on Q4 • Fetish and Esuajah North (ESN) cutbacks progressed • Sales - 35,995oz at a weighted average price of US$3,968oz. • FY27 guidance 150–170koz at an AISC of US$1,700–1,920/oz. NOTIONAL CASH FLOW US$80M Down 20% on Q4 NOTIONAL CASH MARGIN US$2,230oz Down 7% on Q4 EDIKAN GOLD MINE – SEPTEMBER QUARTER PERFORMANCE
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PERSEUS MINING 6 OUNCES PRODUCED 20.0koz Down 29% on Q4 AISC US$1,913oz Up 23% on Q4 • A strong contribution from Bagoé - high-grade ore from the Antoinette pit • Sales - 23,657oz at a weighted average price of US$3,811oz • FY27 guidance 65–85koz at an AISC of US$1,865–2,105/oz NOTIONAL CASH MARGIN US$1,898oz Down 19% on Q4 NOTIONAL CASH FLOW US$38M Down 42% on Q4 SISSINGUÉ GOLD COMPLEX- SEPTEMBER QUARTER PERFORMANCE
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PERSEUS MINING 7 PARAMETER UNITS 2027 FINANCIAL YEAR (FORECAST) YAOURÉ GOLD MINE Production Ounces 150,000 - 170,000 All-in Site Cost(1) USD per ounce $1,955 - $2,205 EDIKAN GOLD MINE Production Ounces 150,000 - 170,000 All-in Site Cost(1) USD per ounce $1,700 - $1,920 SISSINGUÉ GOLD COMPLEX Production Ounces 65,000 - 85,000 All-in Site Cost(1) USD per ounce $1,865 - $2,105 NYANZAGA GOLD MINE Production(2) Ounces ~55,000 PERSEUS GROUP Production Ounces 420,000 - 480,000 All-in Site Cost(1) USD per ounce $1,835 - $2,070 1. Cost 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. i.e excludes Nyanzaga 2. Nyanzaga 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. FY 2027 PRODUCTION AND COST GUIDANCE REMAINS UNCHANGED
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PERSEUS MINING 8 NET CASH AND BULLION US$900M LIQUIDITY US$1,300M US$400M undrawn debt LISTED SECURITIES US$338M 8PERSEUS MINING BALANCE SHEET POSITION
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PERSEUS MINING 9 CUMULATIVE DISTRIBUTIONS TO SHAREHOLDERS • Perseus has returned A$667M to shareholders since FY24 • Special Distribution of A$100M • FY27 Upsize of Share buyback to A$350M RETURN OF FUNDS – SALE OF SUDAN PROPOSED SPECIAL DISTRIBUTION (1) ~A$100M (1) Split between dividend and capital reduction to be determined and to be announced to shareholders in the coming months. UPSCALED BUYBACK FY27 BUYBACK APPROVED A$350M RETURNING CAPITAL TO SHAREHOLDERS
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PERSEUS MINING PERSEUSMINING.COM 10 OPERATING US$187M CAPITAL & EXPLORATION US$160M WORKING CAPITAL & CORP US$67M CLOSING CASH & BULLION US$900M Note: 1. ‘Operating’ represents gold sales revenue less the actual cash costs incurred for the quarter (excluding Sustaining Capital ), adjusted for the fair value movement of bullion on hand. 2. ‘Dividend paid’ represents payments made to non-controlling interests. QUARTERLY CASH & BULLION MOVEMENTS (US$)
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PERSEUS MINING PERSEUSMINING.COM 11 • All-In-Site-Cost and All-In-Sustaining-Cost in Q1 FY27 includes US$4.6 million of costs relating to excess waste stripping. • When reporting cost of sales, in line with accepted practice under IFRS, excess waste cost will be capitalised, and the costs amortised over the remainder of the relevant pit life RECONCILIATION OF “ALL-IN SITE COST” TO “ALL-IN SUSTAINING COST”
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LONG LIFE / LOW-COST CORNERSTONE ASSET MINERAL RESOURCE(1) 4,715 KOZ AVERAGE GRADE 1.33 g/t ORE RESERVE(1) 4,109 KOZ AVERAGE GRADE 1.34 g/t 16 YEAR LIFE @ >200k pa (FY28 to FY41) AVERAGE AISC(1) US$1,600 – US$1,700/oz CONSTRUCTION PROGRESS ON TRACK – FIRST GOLD January 2027 PROGRESS ACHIEVED to Sept '26 88% TOTAL CONSTRUCTION COSTS INCURRED US$408M (84%)(2) TOTAL PRE-PRODUCTION COSTS INCURRED US$33M [1] See ASX release dated 26 August 2026: Perseus Mining Updates M ineral Resources and Ore Reserve Estimates. Resources inclu de Measured and Indicated only. [2] Refer to ASX release dated 28 April 2025: Perseus Proceeds w ith Development of Nyanzaga Gold Project. Calculated using development capital of $483M which ex cludes capitalised preproduction of $39.9M. PERSEUS MINING PERSEUSMINING.COM Deeper holes testing trend completed – good foundation for understanding of ore mineralisation geometry Down plunge potential below Reserve pit 12 Process plant construction Open Pit Development Camp GROWTH CATALYST – NYANZAGA GOLD PROJECT : TANZANIA LONG LIFE / LOW-COST CORNERSTONE ASSET
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PERSEUS MINING PERSEUSMINING.COM 17 SUSTAINABILITY UPDATE STORIES FROM THE GROUND Strengthening local capabilities • Employability and entrepreneurship training for 1,000 youth in Côte d’Ivoire • A new programme to equip women in Tanzania with sewing and tailoring skills and connect them to broader supply chains Building Safer Behaviours ¹ TRIFR reporting now includes all operations and projects. 1.01 Group TRIFR¹ LTI-free start to FY27 SHED Phase 2 progressed focusing on safety culture, behaviours and leadership development Fatigue monitoring expanded across Sissingué's road haulage fleet $17.4M in salaries and wages to local employees $109.3M in taxes and royalties to government $35M declared dividend payable to government $1.2M in social investment $244M in local procurement US$407m Deepening Our Partnerships Economic contribution to host countries this quarter 94% Local and national employment Investing in our people and host communities
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ASX/TSX: PRU | WWW.PERSEUSMINING.COM This presentation was authorised for release by Perseus Managing Director and CEO, Craig Jones