• Unsolicited proposal from Perseus Mining Limited to acquire all PDI shares not already owned
• Offer values each PDI share at A$0.778, representing a 24.5% premium to last closing price
• PDI Board unanimously determined the proposal constitutes a 'Superior Proposal'

Predictive Discovery Limited (PDI) has received an unsolicited proposal from Perseus Mining Limited (Perseus) for the acquisition of all of the issued ordinary shares of PDI not already owned by Perseus. The proposal offers 0.136 new ordinary shares of Perseus for each PDI share, valuing each PDI share at A$0.778 based on the last closing price of A$5.72 per Perseus share on 2 December 2025. This implies a fully-diluted valuation for PDI of approximately A$2.1 billion or US$1.4 billion. The proposal represents premiums of 24.5% to the last closing price of PDI shares and 34.8% to the 10-day VWAP. The proposal is not subject to financing or due diligence conditions. PDI's Board has unanimously determined, after consultation with advisors, that the proposal constitutes a 'Superior Proposal' for the purposes of PDI's existing Robex Arrangement Agreement. In accordance with that agreement, Robex has a 5-business day matching period to provide a matching or superior proposal. There is no assurance the Acquisition Proposal will lead to a transaction, as it remains subject to various conditions including shareholder and court approvals.