December 2025 Quarter Report

Core Viewpoint - Perseus Mining reported sustained operational performance for the December 2025 quarter, with significant cash and bullion reserves, alongside ongoing project developments and production guidance for the 2026 financial year [2][4][7]. Operating Performance - Gold recovered in Q2 FY26 totaled 88,888 ounces, with a production cost of US$1,362 per ounce and an All-In Site Cost (AISC) of US$1,800 per ounce [4][7]. - The average sales price for gold was US$3,437 per ounce, leading to a notional cash flow of US$145 million for the quarter [4][7]. - The company holds a cash and bullion balance of US$755 million, in addition to liquid listed securities valued at US$229 million [7]. Production and Cost Guidance - Group gold production guidance for FY26 remains unchanged, with expected production from the Yaouré Gold Mine between 168,000 and 184,000 ounces, Edikan Gold Mine between 154,000 and 169,000 ounces, and Sissingué Gold Mine between 78,000 and 87,000 ounces [9][10]. - The overall production target for the Perseus Group is set between 400,000 and 440,000 ounces, with AISC ranging from US$1,600 to US$1,760 per ounce [9][10]. Project Developments - The CMA Underground development is progressing, with the first ore delivered in January 2026, and the Nyanzaga project is on track for first production in January 2027 [7]. - Gold production is expected to be weighted towards the second half of FY26 due to the inclusion of new higher-grade ore sources at Edikan and Sissingué [8].