PRU H1 FY26 Results Announcement

Executive Summary

• Perseus Mining reported H1 FY26 profit after tax of US$185.5 million, a modest decline YoY but accompanied by strong cash generation and a record interim dividend increase to A$0.05 per share (100% uplift).
• Revenue rose 5% to US$608.5 million, EBITDA was US$315.5 million, and operating cash flow reached US$193.4 million.
• The company refinanced its undrawn debt facility to US$400 million, added US$228.7 million of marketable shares, and reaffirmed FY26 gold production guidance of 400‑440 k oz at an AISC of US$1,600‑1,760/oz.

Key Details

• Profit & Earnings – Profit after tax: US$185.5 million (down 8% YoY). Basic EPS: US$0.1210 per share.
• Revenue – US$608.5 million, up 5% versus the prior period.
• EBITDA – US$315.5 million (down from US$352.7 million YoY).
• Operating Cash Flow – US$193.4 million (‑22% YoY).
• Investing Cash Flow – Net outflow of US$166.9 million, driven by ramp‑up at Nyanzaga (Tanzania) and CMA Underground (Côte d’Ivoire).
• Net Cash & Bullion – US$755 million cash & bullion; gold bullion holdings 16,450 oz valued at US$71.8 million.
• Debt Facility – Undrawn facility refinanced and upsized to US$400 million.
• Equity Raise – Issuance of US$228.7 million marketable shares.
• Dividend – Record interim dividend of A$0.05 per share (100% increase). Estimated cash outflow US$47.3 million; ex‑date 5 Mar 2026, record date 6 Mar 2026, payment date 2 Apr 2026.
• Production & Cost Guidance FY26 – Total gold output forecast 400‑440 k oz; AISC guidance US$1,600‑1,760/oz (based on $3,900 spot price). Mine‑level forecasts:
• Yaouré: 168‑184 k oz @ $1,620‑$1,790/oz
• Edikan: 154‑169 k oz @ $1,470‑$1,620/oz
• Sissingué: 78‑87 k oz @ $1,810‑$2,000/oz
• Gold Sales – 188,196 oz sold in H1 FY26 at an AISC of US$1,649/oz; average realized price US$3,241/oz (38% increase YoY).
• Cost Drivers – Higher royalties (additional 2% paid to Côte d’Ivoire) and transition to lower‑grade open pits increased cost of sales by 28%.
• Foreign Exchange Impact – FX loss of US$26.9 million versus US$10.3 million loss in prior period, driven by USD weakening.
• Depreciation & Amortisation – Down 46% to US$47.5 million due to lower ore tonnes and completion of several pits.

Notable Quotes

“Our strong operational results along with our low operating cost produced robust cash flows further strengthening our superior balance sheet, enabling a 100% increase in our interim dividend…” – Craig Jones, CEO

All forward‑looking statements are subject to the usual risks and uncertainties.