Perseus Mining (PRU) investor relations material

Strategic overview and operational highlights

• Operating three gold mines in Africa with Nyanzaga in Tanzania set to commence production in January 2027, supporting over 20 years of regional experience.

• Achieved strongest financial results to date, consistently outperforming the U.S. dollar gold price and maintaining a market cap of AUD 9 billion as of September 2026.

• All projects, including Yaouré underground and Nyanzaga, delivered on time and within budget, even during COVID.

• Mine life extensions achieved across all assets, with Yaouré extended from 9 to 15 years, Edikan from 6 to 12 years, Sissingué from 10 to 20 years, and Nyanzaga from 13 to 16 years.

• Strong social license and local community support underpin operations and growth.

Financial performance and capital management

• FY26 revenue rose 19% to $1.5B, gross profit from operations increased 27% to $744M, and operating cash flow grew 24% to $666M.

• Increased reserves by 40% and mineral resources by 37% over the past year, with group mineral resources at 10.64 Moz and ore reserves at 7.0 Moz.

• Declared a record dividend (AUD 0.14/share, up 87%), announced a special dividend from Sudan asset sale, and set buybacks for FY27 at AUD 350 million.

• Maintains minimum liquidity of $500 million, currently holding $1.4 billion, with net cash and bullion at $1,034M and $400M undrawn debt.

• Peer-leading EBITDA margin of 57.7% and return on capital employed of 27% over the last three years, outperforming ASX and global peers.

Growth, exploration, and project pipeline

• Nyanzaga project 80% complete, targeting first gold in January 2027 and a 16-year mine life.

• Major drilling programs underway at Yaouré, Edikan, and Sissingué to extend mine lives and convert resources to reserves.

• Exploration spend doubled, with FY27 budget set at $70–80M, focusing on brownfield expansion and satellite deposit definition.

• Positive reconciliation at Yaouré, with grade control models reporting 30% more ounces than reserve estimates over six months.

• Group-wide hedging strategy maintains downside protection while retaining upside, with a committed hedge position at 7% of forecast three-year production.