Slide 1: June 2025 Quarter Report Webinar
Perseds MINING JUNE 2025 QUARTER REPORT WEBINAR 28 JULY 2025 ASX/TSX: PRU
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS COMPETENT PERSON STATEMENT: All production targets referred to in this report are underpinned by estimated Ore Reserves which have been prepared by Meyas Sand Gold Project competent persons in accordance with the requirements of the JORC Code. The information in this report tha
Slide 3: Overview of Operating & Financial Results
OVERVIEW OF OPERATING & FINANCIAL RESULTS PERSEUS MINING LIMITED PERSEUSMINING.COM 3
Slide 4: Continued Strong Operating Performance in June 2025 Quarter
CONTINUED STRONG OPERATING PERFORMANCE IN JUNE 2025 QUARTER GOLD PRODUCED ALL-IN SITE COST AVG GOLD SALE PRICE CASH MARGIN (2) NOTIONAL CASHFLOW(2) NET CASH & BULLION 121,237 oz US$1,417/oz US$2,977/oz US$1,560/oz US$189M US$827 (3) Down 0.3% (1) Up US$208/oz(1) Up US$515/oz(1) Up $307/oz(1) Up US$3
Slide 5: Translated into Excellent Results for the 2025 Financial Year
TRANSLATED INTO EXCELLENT RESULTS FOR THE 2025 FINANCIAL YEAR GOLD PRODUCED ALL-IN SITE COST AVG GOLD SALE PRICE CASH MARGIN (3) NOTIONAL CASHFLOW(2) NET CASH & BULLION 496,551 oz(1) US$1,235/oz(1) US$2,543/oz US$1,308/oz US$650M US$827 (4) Down 2.6% (2) Up US$182/oz(2) Up US$529/oz(2) Up $347/oz(2)
Slide 6: Delivered on Both Group Production and Cost Guidance
DELIVERED ON BOTH GROUP PRODUCTION AND COST GUIDANCE June 2025 Half Year 2025 Financial Year Parameter Units Guidance Actual Guidance Actual Yaouré Gold Mine Production Ounces 120,000 – 135,000 139,081 243,158 – 258,158 262,239 All-in Site Cost USD per ounce $1,215 – $1,315 $1,082 $1,160 – $1,210 $1
Slide 7: Yaouré Gold Mine – Côte d'Ivoire
YAOURÉ GOLD MINE – CÔTE D’IVOIRE • Produced 70,259 ounces of gold at an AISC of US$1,180 per ounce during the quarter or 262,239 ounces at an AISC US$1,101 per ounce for the full FY2025. • Q4 FY25 production was 2% higher than Q3 FY25 based on sound metrics of runtime (94%), head grade (2.24g/t), re
Slide 8: Edikan Gold Mine - Ghana
EDIKAN GOLD MINE - GHANA • By Edikan’s standards, Q4 FY25 was a challenging period with 38,865 ounces of gold produced at an AISC of US$1,482 per ounce or 177,167 ounces at an AISC US$1,159 per ounce for FY2025. • Production Q-on-Q was down ~7% largely due to lower head grade of 0.86g/t (0.95g/t) fo
Slide 9: Sissingué Gold Mine – Côte d'Ivoire
SISSINGUÉ GOLD MINE – CÔTE D’IVOIRE • A modest, but slightly improved quarter relative to Q3 FY25. 12,113 ounces of gold produced, ~ 10% of Perseus’s total production, 9% more than Q3 FY25. For the full FY25, this translated to 57,145 ounces of gold or ~12% of Perseus’s total production. • Key KPIs
Slide 10: Significant Gold Production at Attractive Margins During the Last 4 Years
SIGNIFICANT GOLD PRODUCTION AT ATTRACTIVE MARGINS DURING THE LAST 4 YEARS • Perseus group has averaged 509,000 ounces of gold production at AISC of US$1,048/ounce for the last 4 financial years. PERSEUS MINING PERSEUSMINING.COM 10
Slide 11: Strong Production & Cost Performance Continues for the Next 5 Years
STRONG PRODUCTION & COST PERFORMANCE CONTINUES FOR THE NEXT 5 YEARS Production and AISC cost five-year outlook AVERAGE GOLD PRODUCTION Impacted by Nyanzaga, that replaced loss of Meyas • 515k – 535k ounces per annum of gold for a total Sand Gold Meyas Sands, comes on of 2.6M – 2.7M ounces: Project s
Slide 12: In FY2026 – A Slight Dip Before Recovering in FY2027
IN FY2026 – A SLIGHT DIP BEFORE RECOVERING IN FY2027 PERSEUS MINING 12
Slide 13: Growth in Notional Operating Cashflow
GROWTH IN NOTIONAL OPERATING CASHFLOW • Net increase in cash & bullion position of $26 million, giving cash and bullion on hand at 30 June of US$827 million. • Total includes cash of US$752 million and 22,722ozs of bullion on hand, valued at US$75 million valued based on closing spot price of US$3,2
Slide 14: Q4 FY25 Cashflow and Balance Sheet
Q4 FY25 CASHFLOW AND BALANCE SHEET • Q4 FY25 cash from operations of US$229 million, resulting in cash & bullion balance of US$827 million. • Major uses of capital include: ➢ Capital investment of US$80 million ➢ Tax payments US$69 million ➢ Dividends of US$27 million ➢ Share Buyback of US$28 millio
Slide 15: Hedge Pricing & Option Update as at 30 June 25
HEDGE PRICING & OPTION UPDATE AS AT 30 JUNE 25 Objective of our hedging programme is to maintain downside protection while retaining as much upside opportunity as possible, while observing prudent cash management practices. Current hedge position ➢With rising gold prices, Perseus has reduced its Com
Slide 16: Capital Returns to Shareholders
CAPITAL RETURNS TO SHAREHOLDERS Interim Total Annual Interim Dividend Final Dividend Capital Return Buyback Total Interim Final Percentage Annual DPS Percentage AUD ($M) AUD ($M) AUD ($M) AUD ($M) AUD ($M) A$ (cps) A$ (cps) Yield A$ (cps) Yield FY21 18 18 0.0% - 1.50 1.50 1.0% FY22 10 22 32 1.00% 0.
Slide 17: Share Buy-Back as of 11th July
SHARE BUY-BACK* AS OF 11TH JULY *Note: On 28 August 2024, Perseus committed to undertaking a programme of buying back its ordinary shares on-market, up to the value of A$100 million. All dollar amounts shown above are denominated in AUD. PERSEUS MINING 17
Slide 18: Organic Growth
ORGANIC GROWTH PERSEUS MINING LIMITED PERSEUSMINING.COM 18
Slide 19: June 2025
JUNE 2025 ASX/TSX: PRU | WWW.PERSEUSMINING.COM
Slide 20: Project Schedule - Milestones
PROJECT SCHEDULE - MILESTONES PROCESS PLANT CONSTRUCTION COMMENCES RAP HOUSING COMPLETE CAMP STAGE 1 MINING COMMENCES JULY 2025 OCTOBER 2025 FIRST GOLD POUR DECEMBER 2025 APRIL 2026 TARGET <JAN Q1 - 2027 PERSEUS MINING PERSEUSMINING.COM 20
Slide 21: Construction - Infrastructure
CONSTRUCTION - INFRASTRUCTURE HIGHLIGHTS TEMPORARY CAMP & BUILDINGS • Camp kitchen upgrade equipment layout plan complete and required materials have been ordered. • 2 x 3-man accommodation service connections and fit out ongoing, completion held up due to missing materials from ID-Fabric. • Water t
Slide 22: Photographs
PHOTOGRAPHS Terrace 4 & Terrace 5 – Senior Accommodation Buildings. PERSEUS MINING PERSEUSMINING.COM 22
Slide 23: Photographs
PHOTOGRAPHS Ngoma Bypass Road – Roadworks on the Nyabila Bypass road Section PERSEUS MINING PERSEUSMINING.COM 24
Slide 24: Photographs
14. PHOTOGRAPHS Ngoma Bypass Road – Access Road Crossing Culvert Installation. PERSEUS MINING PERSEUSMINING.COM 25
Slide 25: Resettlement Program
RESETTLEMENT PROGRAM HIGHLIGHTS GENERAL • 65 out of 262 homes in total now complete. (59 PAPs relocated) • 43.2% Actual progress earned to date versus 50.5% Planned. • Overall progress falling behind planned due to ongoing poor performance from EHS. • Delays in handing over of 40 homes due to poor q
Slide 26: Photographs
PHOTOGRAPHS RAP Housing - Electrical Service Line Installation on eligible homes within the RAP Project. PERSEUS MINING PERSEUSMINING.COM 27
Slide 27: Nyanzaga – Five-Year Outlook
NYANZAGA – FIVE-YEAR OUTLOOK GOLD PRODUCTION AND AISC FORECAST: • Gold production totalling 725k – 750k ounces Stage 1 Design • Average AISC of US$1,230 - US$1,330 per ounce Stage 2 Design • All material mined is part of the stated Ore Reserve(1) Perseus FID Ore • Nyanzaga is forecast to be Perseus’
Slide 28: Phase 2 Drilling Programme
PHASE 2 DRILLING PROGRAMME TUSKER DEPOSIT • NYZRCDD1374C: 51 m @ 4.43 g/t gold from 269 m including 4 m @ 42.04 g/t gold from 274 m; • NYZDD1389: 36 m @ 6.28 g/t gold from 292 m including 4 m @ 47.82 g/t gold from 314 m; • NYZDD1390: 10 m @ 15.38 g/t gold from 264 m; Kilimani • NYZDD1490: 33 m @ 3.1
Slide 29: June 2025
| JUNE 2025 ASX/TSX: PRU | WWW.PERSEUSMINING.COM
Slide 30: CMA Underground Mine Development Project
CMA UNDERGROUND MINE DEVELOPMENT PROJECT • A Final Investment Decision to develop the CMA Underground mine was taken in Jan 251. Underground mining activities are scheduled for Q1 FY26. • Underground operational readiness preparations have continued during the quarter to ensure a smooth integration
Slide 31: Portal Update
PORTAL UPDATE Portal Location • North 1115 Intake (Assanou) • North 1095 Exhaust (Sika) • South 1120 Intake (Blika) • South 1105 Exhaust (Pauline) PERSEUS MINING PERSEUSMINING.COM 32
Slide 32: North 1115 Intake - Assanou
NORTH 1115 INTAKE - ASSANOU Portal Review ➢ North 1115 Intake • New portal location confirmed. Mine Geotech update has increased batter support requirements to the left and right wall extents, geobrug mesh will be installed 15m either side of centerline. ➢ Work in progress • Ramp construction comple
Slide 33: North 1095 Exhaust - Sika
NORTH 1095 EXHAUST - SIKA ➢ Status of 1095 Exhaust • Catch fence installed, geobrug (mesh) prepared for installation and batter support. Pit modification to have suitable batter height. 1100mRL pit base 1095mRL PERSEUS MINING PERSEUSMINING.COM 34
Slide 34: South 1120 Intake - Blika
SOUTH 1120 INTAKE - BLIKA ➢ Status of 1120 Intake • Catch fence installed, geobrug installed, site prepared for batter support. 1100mRL pit base 1095mRL PERSEUS MINING PERSEUSMINING.COM 35
Slide 35: South 1105 Exhaust - Pauline
SOUTH 1105 EXHAUST - PAULINE ➢ Status of 115 Exhaust • Catch fence installed, geobrug installed, site prepared for batter support. 1095mRL PERSEUS MINING PERSEUSMINING.COM 36
Slide 36: Services – Power / Water Start Up
SERVICES – POWER / WATER START UP Set up for commencement of portals ➢ Power for start up • Power will be fed from 500kVA gensets in both the north and south. This will derisk LOM 11kVa cable damage during OP/UG interaction and fly rock blasting. • Gensets are in containers and are in place in the p
Slide 37: Services – Power / Water LOM
SERVICES – POWER / WATER LOM Services for Underground ➢ HV Power to Portal • Services cradle being manufactured in South Africa. Cradle will support HV and services into pit. • Anchor point located north of haul road, before being trenched under eastern haul road and over northern pit wall. • EPSA e
Slide 38: Primary Vent
PRIMARY VENT ➢ Exhaust Fan Bank • Each exhaust decline will be fitted with 3 x 185kW fans mounted into vent wall. • Fans will be external to allow for ease of access for servicing and change out. • Fans will be able to be controlled independently, with each exhaust outlet having a self closing door
Slide 39: Mining Services Area Update
MINING SERVICES AREA UPDATE CMA Admin ➢ Workshop • All five bays now concreted. ➢ Warehouse • Mark-up for excavation. • ➢ Admin • Continue floor tiling and ceiling installation, as well as verandas. • Preparing for electrical boxes and switches. CMA Change House / Facilities ➢ Facilities Change Hous
Slide 40: Sustainability Performance
SUSTAINABILITY PERFORMANCE PERSEUS MINING LIMITED PERSEUSMINING.COM 41
Slide 41: Sustainability
SUSTAINABILITY SAFETY • Group 12-month rolling average Total Recordable Injury Frequency Rate (TRIFR) at 0.60 for FY25, the best performance in a FY in the Company’s history, recording a 50% improvement over the past 2 years. There was one recordable injury in Q4 FY25 across the Group. • Group 12-mo
Slide 42: This presentation was authorised for release by Perseus Executive Chairman and CEO
This presentation was authorised for release by Perseus Executive Chairman and CEO, Jeff Quartermaine ASX/TSX: PRU | WWW.PERSEUSMINING.COM