Slide 1: Perseus Mining Annual Report Presentation, 26 August 2026
For personal use only 26 AUGUST 2026 ASX/TSX: PRU | WWW.PERSEUSMINING.COM
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 competent persons in accordance with the requirements of the JORC Code. For personal use only The information in this report that
Slide 3: FY26 - Delivering Across All Key Metrics
FY26 - DELIVERING ACROSS ALL KEY METRICS • First Climate Report published under AASB S2 For personal use only SUSTAINABILITY • TRIFR 0.91 • Zero Lost Time Injury • Record financial performance FINANCIAL PERFORMANCE • Operating cash flow up 24% • Earnings per share up 17% • Ore Reserves up 40% and Mi
Slide 4: FY26 - Disciplined Operating Performance
FY26 - DISCIPLINED OPERATING PERFORMANCE For personal use only 2. 7 SAFETY GOLD ALL-IN AVG GOLD CASH NOTIONAL NET CASH TRIFR PRODUCED SITE COST SALE PRICE MARGIN (2) CASHFLOW(2) & BULLION 0.91 404,998 oz US$1,750/oz US$3,693/oz US$1,943/oz US$769M US$1,034M Up 52%(1) Down 91,553 oz(1) Up US$515/oz(1
Slide 5: FY26 - Strong Financial Performance
FY26 - STRONG FINANCIAL PERFORMANCE FY26 compared to FY25 For personal use only GROSS PROFIT PROFIT REVENUE FROM OPERATIONS EBITDA(1) BEFORE TAX US$1.5B US$744M US$861M US$716M Up 19% (US$236M) Up 27% Up 16% Up 27% BASIC EARNINGS EARNINGS OPERATING FINAL PER SHARE PER OUNCE(2) CASHFLOW DIVIDEND 31.7
Slide 6: FY26 - Resilient Balance Sheet Positioned for Growth
FY26 - RESILIENT BALANCE SHEET POSITIONED FOR GROWTH For personal use only NET CASH AND BULLION LIQUIDITY LISTED SECURITIES US$1,034M US$1,434M US$233M Up US$207M on FY25 US$400M undrawn debt OPERATING CASH FLOW OPERATING CASH OPERATING CASH FROM OPERATIONS FLOW PER SHARE FLOW PER OUNCE US$666M (1)
Slide 7: FY26 - Record Returns to Shareholders
FY26 - RECORD RETURNS TO SHAREHOLDERS RETURN OF For personal use only INCREASED UPSCALED DIVIDENDS FUNDS – SALE PER SHARE BUYBACK OF SUDAN FINAL DIVIDEND FY26 BUYBACK EXECUTED PROPOSED SPECIAL DISTRIBUTION (1) A$9.0cps A$127M TOTAL FY26 DIVIDEND FY27 BUYBACK APPROVED ~A$100M A$14.0cps A$350M A$187M
Slide 8: Returning US$218M to Shareholders
RETURNING US$218M(1) TO SHAREHOLDERS FY26 CAPITAL ALLOCATION CUMULATIVE DISTRIBUTIONS TO SHAREHOLDERS For personal use only BUYBACKS SUSTAINING CAPITAL US$89M(2) US$29M DIVIDENDS US$129M(3) GROWTH – Development US$367M GROWTH – Exploration US$41M • Perseus has returned A$667M to shareholders • Speci
Slide 9: FY27 - Enhanced Capital Allocation Framework
FY27 - ENHANCED CAPITAL ALLOCATION FRAMEWORK For personal use only RELIABLE OPERATING CASH SUSTAINING BALANCE SHEET RESILIENCE HIGH YIELD SUSTAINABLE DIVIDEND FLOW CAPITAL GROWTH CAPITAL Minimum liquidity(1) Disciplined FY27 US$500M FY27 Min 20% operational ~US$530M of Net Cash Flow performance US$5
Slide 10: Continued Focus on Organic Growth
CONTINUED FOCUS ON ORGANIC GROWTH US$70-80M exploration spend in FY27 For personal use only GROUP ORE up 40% GROUP M&I MINERAL up 37% RESERVES 7 Moz RESOURCES 10.6 Moz PERSEUS ORE RESERVES(1) PERSEUS MINERAL RESOURCES (1) 7,500 217 19 7,001 1,767 6,500 -4 5,500 5,003 koz Au 4,500 3,500 2,500 1,500 5
Slide 11: Nyanzaga Progressing to Plan
NYANZAGA PROGRESSING TO PLAN Progress For personal use only TOTAL CONSTRUCTION TOTAL PRE-PRODUCTION ON TRACK – PROGRESS COSTS INCURRED FIRST GOLD ACHIEVED COSTS INCURRED January 2027 67% US$311M US$17M (64%)(1) Tusker Hill Key work fronts achieved PROCESS PLANT Procurement Completed, material delive
Slide 12: FY27 Group Guidance
FY 27 - GROUP GUIDANCE PARAMETER UNITS 2027 FINANCIAL YEAR (FORECAST) PRODUCTION For personal use only Production(1) Ounces 420,000 - 480,000 AISC All-in Site Cost(2) USD per ounce 1,835 - 2,070 SUSTAINING CAPITAL Sustaining capital(3) USD million 50 – 60 DEVELOPMENT CAPITAL Development capital(4) U
Slide 13: FY26 Sustainability Performance
FY26 SUSTAINABILITY PERFORMANCE For personal use only BUILDING SAFER BEHAVIOURS DEEPENING OUR PARTNERSHIPS First AASB S2 Climate Report published Completed climate risk and opportunity assessment, including climate scenario Safety Economic FY26 indicators FY26 FY25 contributions US$ FY25 analysis TR
Slide 14: Our Investment Proposition
OUR INVESTMENT PROPOSITION 1 PORTFOLIO DIVERSIFICATION 2 VALUE CREATION For personal use only Diversified African asset Proven development and portfolio operational excellence capabilities PEER LEADING RETURN ON 4 3 GROWTH CAPITAL EMPLOYED Cost focused culture Track record of growth through explorat
Slide 15: Authorised for release by Managing Director and CEO
For personal use only This presentation was authorised for release by Perseus’s Managing Director and CEO, Craig Jones ASX/TSX: PRU | WWW.PERSEUSMINING.COM
Slide 16: For personal use only
For personal use only ASX/TSX: PRU | WWW.PERSEUSMINING.COM
Slide 17: Appendix - Perseus Mineral Resources & Ore Reserves
APPENDIX 1 - PERSEUS MINERAL RESOURCES & ORE RESERVES JORC Ore Reserve1,2,4 For personal use only PROVED PROBABLE PROVED & PROBABLE PROJECT QUANTITY GRADE GOLD QUANTITY GRADE GOLD QUANTITY GRADE GOLD Mt g/t gold '000 oz Mt g/t gold '000 oz Mt g/t gold '000 oz Edikan 12.7 0.87 355 20.2 0.99 643 32.9
Slide 18: Appendix - FY27 Production, Cost and Sustaining Capital Guidance
APPENDIX 2 - FY 27 PRODUCTION, COST AND SUSTAINING CAPITAL GUIDANCE FY27 Gold Production AISC (2) Sustaining Capital(3) Exploration For personal use only Guidance (koz) ($/oz) ($M) ($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 - 1,92