Perseus Mining Delivers Record Financial Results and Capital Returns

Executive Summary

• Perseus Mining reported record FY25 results: PAT US$421.7 m (up 16%), revenue US$1.248 bn (+22%) and EBITDA US$740.3 m (+18%).
• Declared a final dividend of A$0.05 per share, bringing total FY25 dividend to A$0.075 per share (≈2.1% yield) and announced an additional up‑to A$100 m on‑market share buy‑back programme over the next 12 months.
• Strong balance sheet with US$826.5 m cash & bullion, zero debt, and net tangible assets of US$1.9 bn (+52% YoY).

Key Details

• Financial Performance
• PAT: US$421.7 m (A$651.0 m) – +16% YoY
• Revenue: US$1,248.1 m (A$1,927 m) – +22% YoY
• EBITDA: US$740.3 m (A$1,142.8 m) – +18% YoY
• Basic EPS: US$0.270 (A$0.417) – +14% YoY

• Net operating cash flow: US$536.7 m (A$828.4 m) – +25% YoY

• Balance Sheet & Liquidity

• Cash & bullion at year‑end: US$826.5 m (incl. US$752 m cash + 22,722 oz bullion valued US$75 m)
• Net tangible assets: US$1.9 bn (US$1.40 per share) – +52% YoY

• No outstanding debt

• Capital Returns

• Final unfranked dividend: A$0.05 per share (A$67.8 m ≈ US$44.4 m). Combined with interim dividend of A$0.025, total FY25 dividend = A$0.075 per share (2.07% yield).
• Ex‑dividend date: 9 Sep 2025; record date: 10 Sep 2025 (TSX: 10 Sep). Payment date: 9 Oct 2025.
• Share buy‑back to date: A$83.6 m of ordinary shares purchased (includes FY26 transactions).

• New on‑market buy‑back authorised up to A$100 m, to commence ~24 Sep 2025 and complete within 12 months, subject to price caps (≤5% above VWAP of prior five trading days) and market conditions.

• Production & Cost Guidance FY26 (unchanged)

• Group production forecast: 400‑440 k oz gold.
• All‑in site cost range: US$1,460‑US$1,620 per ounce.

• Mine‑level forecasts provided for Yaouré, Edikan and Sissingué projects.

• Sustainability Highlights

• Economic contribution to host countries: ≈US$813 m.
• Safety: TRIFR 0.60, LTIFR 0.08 (record lows).
• Local employment 94%; local procurement 88%.

• Community contributions FY25: US$5.6 m (Côte d’Ivoire & Ghana).

• Management Commentary – Jeff Quartermaine, MD & CEO

• Emphasised record results driven by high gold prices and operational performance.
• Highlighted continued commitment to shareholder returns via dividend increase and expanded buy‑back programme.

• Noted ongoing capital investment in Nyanzaga (Tanzania) and CMA Underground (Côte d’Ivoire).

• Outlook – FY2026 guidance unchanged; production targets and cost ranges reaffirmed.

Notable Quotes

“The record financial results that Perseus has delivered this financial year reflect a continuation of both elevated gold prices and our strong, consistent operating performance… We have also decided to continue our programme of buying back shares by investing a further A$100 million in share buy backs over the next 12 months.” – Jeff Quartermaine, Managing Director & CEO.