Perpetua Resources (PPTA) Investor presentation summary

Project overview and strategic positioning

• Stibnite Gold Project is a world-class gold-antimony asset in Idaho, recognized as a national strategic asset with robust investor and government support.

• Idaho offers a premier mining jurisdiction with low geopolitical risk, strong infrastructure, and a skilled workforce.

• The project is the only U.S. reserve of antimony (149 Mlbs), a critical mineral for national defense and clean energy.

• Environmental restoration and brownfield site rehabilitation are integrated into the operational plan.

• The project is listed as a priority by the White House and has received over $80 million in government awards.

Mineral resources, reserves, and production profile

• Holds the largest independent U.S. gold reserve at 4.8 Moz and significant antimony resources.

• Expected to be the largest independent U.S. gold producer, with peak annual gold production of 463 koz in early years.

• Features the highest-grade open pit gold deposit among U.S. peers, especially in the first four years.

• Life-of-mine (15 years) gold production averages 296 koz/year, with 106 Mlbs of antimony recovered.

• Extensive exploration upside exists within and around current deposits, targeting both high-grade and bulk tonnage zones.

Financial highlights and cost structure

• Initial capital requirement is $2.58 billion, with a projected after-tax NPV (5%) of $3.46 billion at consensus prices.

• All-in sustaining costs (AISC) are among the lowest in Tier 1 jurisdictions, at $498/oz in early years and $833/oz life-of-mine.

• Antimony by-product credits significantly reduce gold production costs, with a $222/oz credit at $10/lb antimony.

• After-tax IRR is 23.5% (consensus prices) with a 2.4-year payback; higher gold prices further enhance project economics.

• Annual average EBITDA is projected at $1.35 billion, with after-tax free cash flow of $1.11 billion.