Ann: Proposed issue of securities - PRU, page-8

Perseus currently owns 15% of the Orca Shares and the holders of the other outstanding Orca Shares have been offered 0.56 Perseus shares for every Orca Share held
• Based on Perseus’s closing price1
, Perseus’s offer implies consideration of C$0.896 per Orca Share representing a premium of 62.9% to the last closing price of Orca Shares
• Total consideration to be paid by Perseus for 100% of Orca is C$215 million. This includes C$17 million in cash previously paid to acquire its initial 15% equity interest and C$198
million in Perseus shares2
to acquire the outstanding 85% equity interest
• Orca shareholders to own approximately 9.1% of the enlarged issued share capital of Perseus post the Orca Acquisition

Based on Perseus closing price on the ASX of A$1.74 per share on 25 February 2022 converted to C$ at CADAUD of 0.919

from the presentation document.