• Perseus's offer for Predictive no longer deemed superior
• Revised Robex merger increases Predictive shareholders' ownership
• Perseus believes Robex merger remains inferior to its proposal

Perseus Mining Limited (ASX/TSX: PRU) has provided an update on its proposed acquisition of Predictive Discovery Limited. Perseus refers to the announcement made by Predictive that a revised Arrangement Agreement has been received from Robex Resources Inc. (Robex) on 11 December 2025. This revised Robex merger has been determined by the Predictive Board as having matched Perseus's definitive binding offer announced on 3 December 2025. As a result, Perseus's proposal is no longer deemed a superior proposal as per the terms of the Arrangement Agreement between Robex and Predictive dated 5 October 2025. Consequently, the Perseus proposal has been terminated. Perseus notes that under the revised Robex merger, Predictive shareholders' ownership in the combined Predictive and Robex entity has increased from 51.0% to 53.5%. While Perseus, as Predictive's largest shareholder, acknowledges this marginal improvement, it believes that the revised Robex merger remains inferior to its own proposal, as evidenced by Predictive's continued trading at a discount to the value implied by the Perseus proposal. Notwithstanding this, in the absence of a change in the likelihood of the success of the Predictive/Robex merger, Perseus does not intend to submit a revised proposal for Predictive. However, Perseus reserves the right to vary its position or make a further proposal should circumstances change.