Perpetua Resources (PPTA) Investor presentation summary

Project overview and strategic significance

• Stibnite Gold Project is a large-scale, high-grade open-pit gold and antimony operation in Idaho, recognized as a national strategic asset and listed as a priority project by the White House.

• Holds the only U.S. reserve of antimony (148 Mlbs), a critical mineral for national defense and clean energy, with over $80 million in government grants received since 2022.

• Project integrates environmental restoration, including re-establishing fish migration and improving habitat conditions.

• Idaho offers a tier 1 mining jurisdiction with robust infrastructure, low geopolitical risk, and strong community and political support.

Mineral resources, reserves, and exploration

• Proven & probable reserves: 4.8 Moz gold at 1.43 g/t and 148 Mlbs antimony; measured & indicated resources: 6.0 Moz gold at 1.42 g/t and 206 Mlbs antimony.

• Largest independent U.S. gold reserve and highest-grade open-pit gold deposit among peers in the lower 48 states.

• Significant exploration upside with high-grade targets near existing pits and multiple conceptual targets identified for future drilling.

Production profile and cost structure

• Early years (1-4): average annual gold production of 463 koz at $435/oz AISC; life-of-mine (15 years): 296 koz/year at $756/oz AISC.

• Antimony by-product credits reduce gold production costs by $220/oz over the mine life, with further upside at higher antimony prices.

• Initial capital requirement is $2,215 million, with total life-of-mine capital at $3,056 million.