Perseus Mining

As part of Perseus’s commitment to social responsibility, we actively support the local communities surrounding our projects in various meaningful ways. During Ramadan, we donated 700 x 10kg bags of sugar to the Ababda Melikab tribe, located in the vicinity of the Meyas Sand Gold Project in Sudan. The initiative aimed to alleviate economic hardship during the holy month, a time of fasting and reflection. Community members expressed their gratitude for the timely support provided during a period when sugar consumption is important for families who break their fast at sunset, allowing them to prepare traditional meals and desserts that are an integral part of their cultural and religious practices. Today, we wish a joyful Eid Mubarak to all those celebrating the end of Ramadan. May this time of reflection, gratitude and togetherness bring renewed energy for the months ahead. 🌙 📸 Pictured: Bags of sugar being distributed to local families. $PRU

Great to attend the @EurozHartleys Institutional Conference on Rottnest Island this week. Our Managing Director and CEO Craig Jones is pictured providing an update on Perseus's $PRU portfolio of African gold projects at the event. To read a copy of the latest company investor presentation delivered by Craig at the conference, visit: loom.ly/GxVWoDc

Perseus has signed a Share Purchase Agreement to sell its 70% group interest in the Meyas Sand Project located in Sudan to Hong Kong Matrix Golden Fortune Mining Limited, a wholly owned subsidiary of Matrix Resources, for a cash consideration of US$260M. The purchase price comprises a US$10M deposit received on signing of the SPA and US$250M payable on completion of the transaction which is to occur on 22 April 2026. Proceeds will further strengthen Perseus's superior balance sheet along with consideration of additional capital returns to shareholders. Our CEO Craig Jones said: “Perseus maintains the view that the Meyas Sand Gold Project is a high quality gold project. A strategic review of Meyas Sand was undertaken as a result of the protracted armed conflict in Sudan and its impact on Perseus’s ability to progress the development at suitable scale. The sale represents an important step for Perseus in its portfolio optimisation and allows allocation of resources to core assets and its growth strategy. Matrix Group is a proven development partner with a vision for the Meyas Sand Gold Project that aligns with the development goals of Sudan.” Read more: loom.ly/JMeIz6M $PRU

Today, as Ghana marks its 69th Independence Day under this year's theme 'Building Prosperity, Restoring Hope', we reflect on Perseus's 14 years of continuous operations at our Edikan Gold Mine, shaped by our strong partnerships, solid growth and a commitment to long term value creation. We celebrate this special day and look forward to contributing to Ghana’s next chapter. $PRU

This week Perseus $PRU Chief Financial Officer Lee-Anne de Bruin gave a presentation at the #ASX CEO Connect virtual event, providing an update on our multi-asset African gold portfolio. Watch the replay here: loom.ly/0af3hi8

As part of its commitment to educational development, Perseus Mining Ghana Limited (PMGLC) organized an Interschool Quiz Competition across eight catchment communities surrounding Edikan Mine, with schools divided into four zones and the winning school from each zone earning a place in the final. The final was held on 17 October 2025 at Nkonya Community Centre, featuring the four zone winners: 🏅 Prestigious Good Foundation School 🏅 Abenabena M/A Junior High School 🏅 Nkotumso Roman Catholic School 🏅 Amazing Grace Preparatory School. After a closely contested and spirited challenge, Prestigious Good Foundation School was crowned the overall champion, with Abenabena M/A Junior High School as the runner-up, followed by Nkotumso Roman Catholic School and Amazing Grace Preparatory School. Participating schools received prizes including cash, desktop computers and equipment, sports equipment including football kits, first aid kits and trophies. Participating student also received individual prizes. $PRU

A summary of the latest research on multi-asset gold producer @PerseusMining $PRU below following release of the company’s 1HFY26 results and Nyanzaga reserve upgrade: ✅ Argonaut (20/2) – target $8.40/sh – “PRU 1HFY26 result was mostly in line with our estimates and consensus, with a strong operating cash flow result of US$193.4m, although free cash flow for the group was limited at US$26.5m after incurring significant growth capital spend at Nyanzaga and CMA Underground. A significant Ore Reserve upgrade for Nyanzaga from 2.3Moz to 4.0Moz reaffirms the asset quality and validates PRU's initial growth capital spend on the project over FY26/FY27, setting up a +200kozpa operation out to FY42. Nyanzaga mine life extensions help offset lower gold price movements, with our $8.40 price target unchanged. Buy rating maintained.” ✅ Canaccord (20/2) – target raised to $8.10/sh – “We lift our target price to $8.10 (fwd curve NPV5%,10%) from $7.70 on the back increased mine life at Nyanzaga. While FCF over FY26/27e is impacted by capex for key growth projects, as production ramps up from Nyanzaga over CY27, we expect FCF to improve significantly (FY27e FCF yield 7%, FY28e 18%). BUY.” ✅ UBS (20/2) – target raised to $7.15/sh – “Despite a soft 4Q and this being a transition year, PRU reported a strong interim dividend of US5cps, a beat to UBSe (~2.5cps) & cons (~2cps).” ✅ Euroz Hartleys (20/2) – target $6.60/share – “Growth underpinned by a strong balance sheet, with increased shareholder returns, noting only 10% (~A$10.8m) of the planned A$100m share buy-back has so far been completed, with on-market buying set to be ramped up.” ✅ Macquarie (20/2) – target $6.50/sh: “Underlying EBITDA of US$316m, which was 4% higher than Consensus (VA) of A$303m, and lower D&A contributed to a strong earnings beat of US$185m which was 16% above VA. Outperform.” ✅ Barrenjoey (20/2) – price target raised to $6.50/sh: “We have increased our modelled Reserve life at Nyanzaga by 6 years which lifts its NPV to A$2.88ps (from A$2.55ps) and our overall PRU NPV to A$6.52ps. We have also lifted our forecast dividend going forward and now forecast a 10.0cps final dividend, on top of the $91m of remaining share buyback.”

Perseus $PRU Chief Financial Officer Lee-Anne de Bruin will present at the ASX CEO Connect event taking place tomorrow, 3 March 2026. More info: loom.ly/ncFMkuw

The Yaouré CMA Underground Project in Côte d’Ivoire is Perseus Mining's – and the country’s – first mechanized underground mining development, advancing toward first gold production. The below video highlights the significant recent progress made on site: ✅ Our underground contractor’s fleet of heavy mining equipment arrived on site in early September, including jumbo development drill rigs, loaders and trucks ✅ 29 September 2025 was a major milestone for both Perseus and Cote d’Ivoire, with the first blast of the Pauline Decline marking the official start of the CMA underground journey ✅ Recent months have seen the completion of new underground infrastructure including administrative buildings, change house facilities and workshops, with rapid progress made ✅ Blasts in the Blika, Sika and Assanou declines followed in October, with a total of 800m of development completed across the four declines ✅ First ore was mined on the Blika portal in January 2026 We look forward to sharing further updates as we move toward first gold at the Yaouré CMA Underground Project, with stoping operations expected to commence in Q2 of the 2026 calendar year. $PRU

In late 2025, Perseus Mining Ghana Limited hosted its annual Edikan Trust Fund Scholarship Day at the Nkonya Community Centre as it continues to celebrate the academic excellence of local students. The event saw 172 tertiary students across the Edikan Mine catchment area awarded with bursaries valued GHS 278,279.00 (AU$36,000) to support their ongoing studies. This brings the total number of beneficiaries to 866 from 2017. The theme for 2025 was “Education: The Foundation for Sustainable Community Development” and the event brought together key stakeholders, including Perseus Mining Ghana management, traditional leaders, Edikan Trust Fund board members, SDC representatives, parents, community members, Amenfiman Rural Bank officials and local media. Distinguished guests included PMGLC Board Chairman Ehunabobrim Prah Agyensaim VI and a delegation from the Denkyira Traditional Council, underlining the importance of education for community empowerment. Speakers commended the Edikan Trust Fund’s sustained investment in local education and urged beneficiaries to continue to make the most of their opportunities, and contribute to long term growth of their communities. $PRU

A copy of our latest investor presentation is included below, released for the @BMO 35th Global Metals, Mining & Critical Minerals Conference taking place in Hollywood, Florida this week. BMO's Global Metals, Mining and Critical Minerals Conference brings together senior leaders, global investors, policymakers, and analysts for three days of strategic insights and industry‑defining conversations. Spanning four decades, the conference has become one of the world's leading forums for dialogue on mining, metals, and the critical minerals essential to the global energy transition. Read the presentation here: loom.ly/ptH01d8 $PRU

Perseus has reported strong H1 FY26 results for the six months ending 31 December 2025. ✅ Revenue increased to US$608.5m, up 5% on pcp ✅ US$185.5m Profit after Tax ✅ Interim dividend of A$ 5.00 cps declared, a 100% increase on H1 FY25 interim return of A$ 2.50 cps ✅ EBITDA of US$315.5m ✅ Operating cash flow of US$193.4m ✅ Net cash and bullion of US$755m ✅ Refinanced and upsized undrawn debt facility to US$400m, and US$228.7m of marketable shares ✅ FY26 market guidance of 400,000 to 440,000oz gold production at US$1,600 to US$1,760/oz AISC confirmed Our CEO Craig Jones said: “As we have flagged, the first half of 2026 reflected a period where our mine sites transitioned into new mining areas along with significant advancement of our capital growth projects. Our strong operational results along with our low operating cost, produced robust cash flows further strengthening our superior balance sheet, enabling a 100% increase in our interim dividend to AUD 5.0 cents per share. "With a strong balance sheet, high-margin operations, and a clear growth path, we believe we are well-positioned to continue delivering long-term value for our shareholders.” ➡️ Full H1 FY26 results release: loom.ly/cTA_89M ➡️ Presentation: loom.ly/Njai0Jk $PRU

Ore Reserves at our Nyanzaga Gold Project in Tanzania have increased to 4.0 Moz. This represents a 73% increase to the 2.3 Moz Ore Reserve reported in April 2025 as part of the updated Nyanzaga Feasibility Study. Mine life for the project is extended to 16 years, including 14 years of production at greater than 200 koz/a. Read the full release here: loom.ly/MVPENLk $PRU

Perseus looks forward to attending the Investing in African Mining Indaba Conference next week, 9-12 February 2026 in Cape Town. Our team on the ground will include Managing Director and CEO Craig Jones, Chief Financial Officer Lee-Anne de Bruin, Chief Development Officer Jacob Ricciardone, Chief Corporate Affairs & Sustainability Officer Melanie Pollard, General Manager Nyanzaga Gold Project Matt Cavedon, Tanzania Country Manager Isaac Lupokela, Côte d'Ivoire Country Manager Dr Diarra Yacouba and PMGL Chairman Nana Prah. Perseus will sponsor the Ministerial Braai, an invitation-only lunch taking place as part of Mining Indaba's Ministerial Symposium. The Symposium, which will be held this Sunday, returns as the cornerstone of high-level policy dialogue on the future of African mining. Under the 2026 theme 'Banking on Africa: Mobilising capital through partnership', the symposium will convene African government leaders, industry executives, and key stakeholders for a day of targeted engagement. For more info on the Mining Indaba conference, visit: loom.ly/Z1xg-Mk

Perseus will host an investor webinar and conference call to discuss its H1 FY26 Results, which are anticipated for release around 8:30am AEDT on Friday 20 February 2026. Full details and register here: loom.ly/vWUChuc $PRU

Construction momentum continues to build at our Nyanzaga Gold Project in Tanzania, and we're pleased to share our first 2026 video update from the project below. As of mid-January 2026: ✅ The project is closing in on four million workhours, with 358 days LTI free. ✅ The first concrete lift on Ball and Sag Mill is now complete. ✅ CIL tank installation is progressing to plan with four tanks progressing to top strake jacking and three tanks ongoing with floor plates. ✅ The permanent camp is progressing well and on-track for mid-2026 completion. ✅ Initial mining preparation has commenced on our ramp to the top of Tusker Hill deposit. ✅ Our resettlement housing program is finishing the final houses, and work has commenced on community infrastructure in schools, a clinic and church. ✅ We continue to champion Safety First at the project – Usalama Kwanza! We look forward to providing further updates on Nyanzaga this year as we advance towards first gold, targeted for Q1 2027. $PRU

Yesterday we released our December 2025 Quarterly Report, which highlighted sustained operational performance resulting in a cash and bullion balance of US$755 million. If you missed the investor call hosted by our Managing Director and CEO Craig Jones and Chief Financial Officer Lee-Anne de Bruin, the replay is available here: loom.ly/aXAkvBQ

📄 December 2025 Quarterly Report: loom.ly/wXlmPNk ✅ Q2 FY26 production totalled 88,888 ounces of gold at an All-In Site Costs of US$1,800 per ounce ✅ Average cash margin of US$1,637 per ounce of gold produced, delivering notional operating cashflow of US$145 million ✅ Cash and bullion of US$755 million, plus liquid listed securities of US$229 million ✅ CMA Underground development progressed with first ore delivered in January 2026 ✅ Nyanzaga project development progressing to plan with first production planned for January 2027 ✅ Work progressed on life extension for the sites through resource conversion and drilling activities We are hosting an investor webinar and conference call at 9:00am AEDT today to discuss the quarterly results. Join here: loom.ly/qnYwV9s $PRU

December 2025 Quarter Report Webinar Presentation: loom.ly/6vk-9iw $PRU