Mr. Craig Jones reports

PERSEUS MINING INCREASES SHARE BUY-BACK FROM AUD100M TO AUD 150M

On June 12, 2026, Perseus Mining Ltd. reached $100-million (Australian) of the $100-million (Australian) on-market share buyback announced in August, 2025. Under this buyback, Perseus has purchased 19,077,751 shares, at an average price of $5.24 (Australian) per share of shares on issue at notification of the buyback on Nov. 25, 2025.

In line with Perseus's communicated Capital Allocation Framework to return capital to shareholders, the Perseus board of directors has approved an increase of $50-million (Australian) to this active on-market share buyback program to a total of $150-million (Australian).

Since the inception of the share buyback programs in August, 2024, Perseus has purchased a total of 45,076,176 shares totalling $183.5-million (Australian) at an average price of $4.07 (Australian) per share (3.3 per cent of shares on issue at notification of the maiden buyback on Aug. 28, 2024).

The upsized buyback underscores the board's confidence in Perseus's balance sheet and the current operations market-leading free cash flow, enabling the company to return capital to shareholders, whilst continuing to finance its organic growth pipeline.

The expanded buyback will be conducted in accordance with all applicable Australian Securities Exchange Listing Rules and Corporations Act requirements. The timing, volume and exact pricing of share repurchases will depend entirely on prevailing market conditions and share price levels. Perseus reserves the right to suspend or terminate the buyback program at any point.

Perseus's managing director and chief executive officer Craig Jones said: "The decision to expand our on-market buyback to $150-million (Australian) emphasizes our clear focus on total shareholder return and capital allocation discipline. Our operations continue to produce solid and sustained cash flows. Given the current market conditions continue to undervalue our high-margin production profile and organic upside, buying back our own shares represents a highly accretive use of capital. This expansion allows us to efficiently return value to our shareholders while preserving our strong balance sheet to execute our corporate growth initiatives."