Corporate Update

• The most recent release confirms the completion of the sale of the Meyas Sand Project interest in Sudan for US$260 million.
• Transaction closed on April 22, 2026, following the initial announcement on March 16, 2026.
• Proceeds include a US$10 million deposit received earlier and a final US$250 million payment upon completion.
• The sale removes exposure to the Sudanese asset, allowing management to focus capital on core African projects in Tanzania, Côte d'Ivoire, and Ghana.
• This follows a strategic review prompted by armed conflict in Sudan and aligns with previous guidance to optimize the portfolio.

• Expected Execution: The market was aware of this transaction since mid-March 2026 when it was rated "Material - Positive". Therefore, the April completion is an execution milestone rather than new information.
• Liquidity Boost: The receipt of US$250 million significantly strengthens the balance sheet, adding to existing cash and bullion reserves estimated at over US$755 million prior to this closing.
• Risk Mitigation: Removing the Sudan asset eliminates geopolitical risk associated with that specific region, which is a positive structural change for long-term stability.
• Routine Nature: As this was a previously announced deal with a fixed completion date, it falls under "Routine - Positive" as per rating definitions regarding closing previously announced financings or transactions.
• Price Action Context: The stock price has recovered from March lows ($4.38) to current levels ($5.39), suggesting the market had already priced in the cash inflow and the Nyanzaga reserve upgrades seen in February.

• Company Profile: Perseus Mining Limited is a mid-tier gold producer with operations in Ghana, Côte d'Ivoire, Tanzania, and Sudan (now divesting).
• Flagship Project: Nyanzaga Gold Project (Tanzania) is the primary growth engine.
  • Ore Reserves: 4.0 Moz Au (73% increase announced Feb 2026).
  • Mine Life: 16 years with >200 koz/a production from FY28-FY41.
  • Status: Final Investment Decision taken, targeting first gold in Jan 2027.
• Operating Mines: Yaouré (Côte d'Ivoire), Edikan (Ghana), Sissingué (Ghana).
• Strategic Shift: Moving from a portfolio of multiple assets to a focused core platform with high-margin underground and open-pit operations in stable jurisdictions.