Slide 1: Perseus Mining – ASX/TSX: PRU
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. The information in this report that relates to the Mineral
Slide 3: High Margin, Cash Generative Gold Producer
HIGH MARGIN, CASH GENERATIVE GOLD PRODUCER MISSION To generate material benefits for all of our stakeholders, in fair and equitable proportions EDIKAN, SISSINGUÉ, YAOURÉ 3 PRODUCING MINES 20+ YEARS OPERATING IN AFRICA NYANZAGA – 4TH OPERATING MINE JAN 27 ORGANIC GROWTH PROJECT CMA UNDERGROUND RAMPIN
Slide 4: Why in Africa?
WHY IN AFRICA? WORLD-CLASS GEOLOGY | GROWING ECONOMIES | LASTING VALUE Growing Supportive Proven World-Class Economies Partnerships Returns Geology Africa holds some of the world's Rising populations and expanding Host governments and communities Decades of successful mine most prospective, underexp
Slide 5: Corporate Overview
CORPORATE OVERVIEW CONSISTENTLY OUTPERFORMING THE US$ GOLD PRICE AUD$ ASX Share price per share(1) 6.84 Shares outstanding 1,327.1M Market capitalisation 9,077M Less: Cash and Bullion (2) 1,456M Plus: Debt 0M Enterprise value 7,621M GEOGRAPHIC OWNERSHIP BREAKDOWN Asia Other 4% 4% North America 87% B
Slide 6: Built on Successfully Developing Orebodies into Mines
BUILT ON SUCCESSFULLY DEVELOPING OREBODIES INTO MINES Perseus has African development capabilities and a proven track record of delivering projects ahead of schedule and below budget, demonstrating its ability to successfully transition assets from acquisition, development and through to sustained l
Slide 7: Track Record of Adding Material Value Through Drilling
TRACK RECORD OF ADDING MATERIAL VALUE THROUGH DRILLING Yaouré Sissingué Edikan Nyanzaga 104% 90% 75% FY26 OR2 FY26 OR2: 998 koz 1,661 koz 41% FY26 OR2: FY26 OR2: 233 koz 4,109 koz Depletion: 1,520 koz1 Depletion: 3,074 koz 2,342 koz1 657 koz1 Depletion: 2,141 koz1 1,441 koz 696 koz Initial Ore Reser
Slide 8: FY26 Delivered Exceptional Results
FY26 DELIVERED EXCEPTIONAL RESULTS • Industry leading TRIFR 0.91 SUSTAINABILITY SUSTAINABILITY • Zero Lost Time Injuries across the business • 9M hours LTI free at Nyanzaga project • Record financial performance FINANCIAL • Operating cash flow up 24% PERFORMANCE • Earnings per share up 17% • Ore Res
Slide 9: Operational Delivery Driving Strong Financial Performance
OPERATIONAL DELIVERY DRIVING STRONG FINANCIAL PERFORMANCE ALL-IN NOTIONAL NET CASH GOLD CASHFLOW(1) PRODUCED SITE COST & BULLION 404,998 oz US$1,750/oz US$769M US$1,034M (1) Cash Margin equals Average Sales Price minus All-in Site Cost (AISC). Notional Cashflow equals Cash Margin multiplied by Gold
Slide 10: Delivering Record Returns to Shareholders
DELIVERING RECORD RETURNS TO SHAREHOLDERS INCREASED DIVIDENDS UPSCALED RETURN OF FUNDS – PER SHARE BUYBACK SALE OF SUDAN TOTAL FY26 FY26 BUYBACK FY27 BUYBACK PROPOSED SPECIAL DIVIDEND EXECUTED APPROVED DISTRIBUTION (1) A$14.0cps A$187M A$127M A$350M ~A$100M +87% Interim Dividend Final Dividend Buyba
Slide 11: Enhanced Capital Allocation Framework
ENHANCED CAPITAL ALLOCATION FRAMEWORK 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$50-60M Undrawn debt Nyanzaga $
Slide 12: Continued Focus on Organic Growth
CONTINUED FOCUS ON ORGANIC GROWTH US$70-80M exploration spend in FY27 GROUP ORE up 40% GROUP M&I MINERAL up 37% RESERVES 7.0 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 1,500 500 EOM June 2025 Nya
Slide 13: Growing Yaouré Gold Mine - Côte d'Ivoire
GROWING YAOURÉ GOLD MINE - CÔTE D’IVOIRE M I NE R AL ORE 4% R E SO U R C E ( 1 ) R E SE R V E ( 1 ) Mining Yaouré Open Pit 29% 2,857 1,661 Proved & Probable 41% KOZ KOZ Reserves by AV E R AG E G R AD E AV E R AG E G R AD E Commenced CMA Deposit 9% 1.53 g/t 1.24 g/t UG Production FY26 Q4 17% CMA SW Y
Slide 14: Growing Edikan Gold Mine – Ghana
GROWING EDIKAN GOLD MINE – GHANA 7% M I NE R AL ORE 20% R E SO U R C E ( 1 ) R E SE R V E ( 1 ) Mining Nkosuo Pit 2,528 998 Proved & Probable 35% Reserves by Deposit 2% KOZ KOZ 17% AV E R AG E G R AD E AV E R AG E G R AD E Commencing AG-Fobinso 0.88 g/t 0.94 g/t Long-section looking southwest cutbac
Slide 15: Growing Sissingué Gold Complex – Côte d'Ivoire
GROWING SISSINGUÉ GOLD COMPLEX – CÔTE D’IVOIRE Mining Veronique, 12.1% MINERAL ORE R E SE R V E ( 1 ) Antoinette and R E SO U R C E ( 1 ) Sissingué pits Proved & 541 233 26.3% Probable Reserves by Deposit KOZ KOZ Commenced 61.6% Sissingué Stage 5 AV E R AG E G R AD E AV E R AG E G R AD E Cutback 1.3
Slide 16: Growth Catalyst – Nyanzaga Gold Project – Tanzania
GROWTH CATALYST – NYANZAGA GOLD PROJECT – TANZANIA LONG LIFE / LOW-COST CORNERSTONE ASSET MINERAL ORE RESOURCE(1) RESERVE(1) 4,715 4,109 16 YEAR LIFE @ AVERAGE AISC(1) KOZ KOZ >200k pa US$1,600– AVERAGE GRADE AVERAGE GRADE (FY28 to FY41) US$1,700/oz 1.33 g/t 1.34 g/t CONSTRUCTION PROGRESS Down plung
Slide 17: FY26 Sustainability Performance
FY26 SUSTAINABILITY PERFORMANCE BUILDING SAFER BEHAVIOURS DEEPENING OUR PARTNERSHIPS First AASB S2 Climate Report published Completed climate risk and opportunity assessment, including climate scenario Safety Economic FY26 indicators FY26 FY25 contributions US$ FY25 analysis TRIFR (Target – below 1)
Slide 18: FY27 - Group Guidance
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 EXPLOR
Slide 19: Peer Leading Margins and Return on Capital
PEER LEADING MARGINS AND RETURN ON CAPITAL LOW COST OF PRODUCTION AND STRONG COST CULTURE Last 3 Year Average EBITDA Margin (%) (1,2) Last 3 Year Average Return on Capital Employed (%) (1,2) 57.7% 27.0% 21.1% 19.7% 50.5% 49.2% Perseus ASX peers average International peers average Perseus ASX peers a
Slide 20: Our Investment Proposition
OUR INVESTMENT PROPOSITION 1 PORTFOLIO DIVERSIFICATION 2 VALUE CREATION 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 exploration and M&A 5 BALANCE
Slide 21: Authorised for release by Managing Director and CEO
This presentation was authorised for release by Perseus’s Managing Director and CEO, Craig Jones ASX/TSX: PRU | WWW.PERSEUSMINING.COM
Slide 22: Financial Performance
APPENDIX 1 FINANCIAL PERFORMANCE PERSEUS MINING LIMITED PERSEUSMINING.COM 22
Slide 23: FY26 - Strong Financial Performance
FY26 - STRONG FINANCIAL PERFORMANCE FY26 compared to FY25 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 31.73cps US$1,204 US$666M
Slide 24: Resilient Balance Sheet Positioned for Next Phase of Growth
RESILIENT BALANCE SHEET POSITIONED FOR NEXT PHASE OF GROWTH 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$666M (1) 49.38cps (2) US
Slide 25: FY27 Production, Cost and Sustaining Capital Guidance
APPENDIX 2 FY27 PRODUCTION,COST AND SUSTAINING CAPITAL GUIDNACE 25 PERSEUS MINING LIMITED PERSEUSMINING.COM
Slide 26: FY27 Production, Cost and Sustaining Capital Guidance
FY 27 PRODUCTION, COST AND SUSTAINING CAPITAL GUIDANCE FY27 Gold Production AISC (2) Sustaining Capital(3) Exploration Guidance (koz) ($/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 - 1,920 15 - 17 Sissingué 65 – 85 1,865 -
Slide 27: Reserves & Resources
APPENDIX 3 RESERVES & RESOURCES PERSEUS MINING LIMITED PERSEUSMINING.COM
Slide 28: Diversified 7.0 Moz Reserve African Focused Gold Miner
DIVERSIFIED 7.0 MOZ RESERVE AFRICAN FOCUSED GOLD MINER GROUP GROUP4 Sissingué1 MINERAL RESOURCE ORE RESERVE Côte d’Ivoire MINERAL RESOURCE ORE RESERVE MINE LIFE 10.64 7.0 MOZ MOZ 0.54 0.23 ~4.0 MOZ MOZ YEARS YEARS Yaouré1 Côte d’Ivoire Nyanzaga1 MINERAL ORE MINE Tanzania RESOURCE RESERVE LIFE MINERA
Slide 29: Perseus Mineral Resources & Ore Reserves
PERSEUS MINERAL RESOURCES & ORE RESERVES JORC Ore Reserve1,2,4 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 0.94 998 Sissingué 1.0 1.34 43 4.1
Slide 30: Group Movements — June 2025 to June 2026
GROUP MOVEMENTS — JUNE 2025 TO JUNE 2026 Figure 1: Change in Group Ore Reserves by Project Figure 2: Change in Group Mineral Resources Key Drivers • Nyanzaga: largest single contributor to both Reserve and Resource growth, reflecting the February 2026 Feasibility Study update • Yaouré: net Reserve a
Slide 31: Yaouré Gold Mine — Resources & Reserves
YAOURÉ GOLD MINE, CÔTE D’IVOIRE — RESOURCES & RESERVES Mineral Resources (M&I + Inferred) Ore Reserves (Proved + Probable) Category Mt g/t koz Au Category Mt g/t koz Au M&I 58.1 1.53 2,857 Proved 12.4 0.73 292 Inferred 32.3 1.5 1,591 Probable 29.1 1.46 1,369 Proved & Probable 41.5 1.24 1,661 Drivers
Slide 32: Edikan Gold Mine — Resources & Reserves
EDIKAN GOLD MINE, GHANA — RESOURCES & RESERVES Mineral Resources (M&I + Inferred) Ore Reserves (Proved + Probable) Category Mt g/t koz Au Category Mt g/t koz Au M&I 89.4 0.88 2,528 Proved 12.7 0.87 355 Inferred 16.7 1.0 544 Probable 20.2 0.99 643 Proved & Probable 32.9 0.94 998 Change in Edikan Ore
Slide 33: Sissingué Gold Mine — Resources & Reserves
SISSINGUÉ GOLD MINE, CÔTE D’IVOIRE — RESOURCES & RESERVES Mineral Resources (M&I + Inferred) Ore Reserves (Proved + Probable) Category Mt g/t koz Au Category Mt g/t koz Au M&I 12.5 1.35 541 Proved 1.0 1.34 43 Inferred 2.1 1.0 64 Probable 4.1 1.43 190 Proved & Probable 5.1 1.41 233 Change in Sissingu
Slide 34: Nyanzaga Gold Project — Resources & Reserves
NYANZAGA GOLD PROJECT, TANZANIA — RESOURCES & RESERVES Mineral Resources (M&I + Inferred) Ore Reserves (Proved + Probable) Category Mt g/t koz Au Category Mt g/t koz Au M&I 110.4 1.33 4,715 Proved - - - Inferred 6.5 1.6 343 Probable 95.7 1.34 4,109 Proved & Probable 95.7 1.34 4,109 Change in Nyanzag
Slide 35: Consolidated Key Assumptions
CONSOLIDATED KEY ASSUMPTIONS Assumption Yaouré Sissingué Edikan Nyanzaga MR Pit Shell Gold Price US$3,300/oz US$3,300/oz US$3,300/oz US$2,700/oz Weighted Avg LOM AISC US$1,900–$2,000/oz US$2,000–$2,100/oz US$1,650–$1,750/oz US$1,600–$1,700/oz Cut-off Grade Range 0.25–0.45 g/t 0.37–0.83 g/t (Sissingu
Slide 36: Yaouré Gold Project – Positive Reconciliation Opportunity
YAOURÉ GOLD PROJECT – POSITIVE RECONCILIATION OPPORTUNITY ORE RESERVE TO MILL CORRELATION FACTOR PARAMETER • Trend over 6 months of the grade control (GC) model reporting 30% more 3 MONTHS 6 MONTHS 1 YEAR ounces as compared to Reserve in the Yaouré OP. Tonnes of Ore 1.57 1.53 1.41 • Improvement in c
Slide 37: Management, Board, Corporate Structure
APPENDIX 4 MANAGEMENT, BOARD, CORPORATE STRUCTURE PERSEUS MINING LIMITED PERSEUSMINING.COM 3
Slide 38: Board of Directors
BOARD OF DIRECTORS Rick Menell Craig Jones Amber Banfield Elissa Cornelius Independent Non-Executive Chairman Managing Director & CEO Independent Non-Executive Director Independent Non-Executive Director Daniel Lougher John McGloin Thomas (Tommy) McKeith James (Jim) Rutherford Independent Non-Execut
Slide 39: Executive Management Team
EXECUTIVE MANAGEMENT TEAM Craig Jones Lee-Anne de Bruin Wade Bickley Jacob Ricciardone Managing Director & CEO Chief Financial Officer Chief Operating Officer Chief Development Officer 25+ years global mining experience; former 25+ years senior finance & strategy roles incl. 25+ years gold & base me
Slide 40: Corporate Structure
CORPORATE STRUCTURE Perseus Mining Limited ASX / TSX: PRU · Perth, Western Australia Edikan Gold Mine Yaouré Gold Mine Sissingué & Fimbiasso Nyanzaga Gold Project Guinea Greenfields Ghana Côte d'Ivoire · incl. CMA U/G¹ Côte d'Ivoire Tanzania Exploration – Siguiri Basin² 90% owned 90% owned 86% owned
Slide 41: Mine Statistics & Hedging
APPENDIX 5 MINE STATISTICS & HEDGING PERSEUS MINING LIMITED PERSEUSMINING.COM 3
Slide 42: Mine Statistics – Quarterly FY2026
MINE STATISTICS – QUARTERLY FY2026 YAOURÉ CMA UG¹ EDIKAN SISSINGUÉ PARAMETER UNIT Q1 Q2 Q3 Q4 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Gold Production & Sales Total material mined kt 5,198 7,193 8,499 7,892 154 144 3,232 2,469 3,710 3,462 3,109 2,708 3,250 2,637 Total ore mined kt 1,276 1,114 1,349 1,293 31 90
Slide 43: Mine Statistics - Full Years FY2024-FY2026
MINE STATISTICS - FULL YEARS FY2024-FY2026 YAOURÉ EDIKAN SISSINGUÉ CMA UG PARAMETER UNIT FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 FY26 FY26¹ Gold Production & Sales Total material mined Mt 33.6 34.0 28.8 0.4 11.7 10.8 12.9 10.2 9.2 11.7 Total ore mined Mt 5.3 8.9 5.0 0.1 7.3 6.1 5.1 1.5 1.1 1.9 Avera
Slide 44: Hedge Position Update as at 30 June 2026
HEDGE POSITION UPDATE AS AT 30- JUNE-2026 Hedge position as at 30-June-26 Perseus hedging programme focuses on maintaining downside protection whilst retaining as much upside opportunity as possible, while still observing prudent cash management practices. ➢Committed hedge position(1) represented 7%
Slide 45: Africa & Gold Insights
APPENDIX 6 AFRICA & GOLD INSIGHTS PERSEUS MINING LIMITED PERSEUSMINING.COM 3
Slide 46: Discoveries by Region/Country
DISCOVERIES BY REGION/COUNTRY West Africa ranks 1st for discoveries over past decades For the period between 2010–2024 (in millions of ounces) West Africa 60.0Moz Ecuador 38.8Moz Canada 38.1Moz #1 Ranked Gold Discoveries since 2010 USA Indonesia Australia 29.0Moz 33.8Moz 32.8Moz Chile 24.8Moz China
Slide 47: Discovery to Production by Commodity
DISCOVERY TO PRODUCTION BY COMMODITY Average lead time from discovery to production, 2002–2023 (127 mines) GOLD IS AMONG THE FASTEST COMMODITIES TO REACH PRODUCTION Nickel 17.5 yrs Across the 127 mines in S&P Global's study, 13 mines gold mines reach production faster than copper or nickel mines, an