Perseus Mining (PRU) investor relations material

Executive summary

• Produced 99,953 oz of gold in Q1 FY26 at an AISC of US$1,463/oz, with a cash margin of US$1,612/oz and notional operating cashflow of US$161 million.

• Cash and bullion balance increased to US$837 million, with zero debt and a US$300 million undrawn credit line.

• CMA Underground development at Yaouré commenced; Nyanzaga project in Tanzania progressing on schedule for first gold in January–March 2027.

• Share buyback program renewed for up to A$100 million; CEO transition completed.

• Maintained high safety standards, achieving a 12-month rolling average TRIFR of 0.60 and zero lost time injuries for the year.

Financial highlights

• Q1 FY26 gold sales totaled 101,589 oz at an average realized price of US$3,075/oz, yielding a cash margin of US$1,612/oz.

• Notional operating cashflow was US$161 million, down US$28 million from the previous quarter.

• Operating margin was US$170 million; capital expenditure was US$67 million, including major investments in Nyanzaga and CMA Underground.

• Paid US$29 million in dividends to government partners and continued tax payments.

• Cash and bullion at quarter-end totaled US$837 million, with a net increase of US$10 million.

Outlook and guidance

• FY26 group production guidance remains at 400,000–440,000 oz with AISC of US$1,460–1,620/oz.

• Production is expected to be weighted to the second half, with higher grade ore at Edikan and Sissingué.

• Yaouré: 168,000–184,000 oz at US$1,500–1,660/oz; Edikan: 154,000–169,000 oz at US$1,420–1,570/oz; Sissingué: 78,000–87,000 oz at US$1,470–1,620/oz.

• CMA Underground first ore expected Q3 FY26, commercial production Q3 FY27.

• Nyanzaga project on track for first gold in January–March 2027.