Perseus Mining Limited (ASX:PRU) entered into scheme implementation deed to acquire remaining 82.20% stake in Predictive Discovery Limited (ASX:PDI) for AUD 1.7 billion on December 3, 2025. The consideration consists of common equity of Perseus Mining Limited at a ratio of 0.136 per common equity of Predictive Discovery Limited. Upon completion, Perseus Mining Limited will own 100% stake in Predictive Discovery Limited. After completion, Predictive shareholders will own approximately 18.4% of all issued Perseus shares. Predictive Discovery has notified Robex that Perseus Mining proposal to be a Superior Proposal and five business day matching period has commenced, during which Robex has the right, but not the obligation, to offer to provide a matching or superior proposal to the Acquisition Proposal. The Matching Period will expires on December 10, 2025. As of December 11, 2025, Robex Resources Inc. has amended exchange ratio of 7.862 PDI shares for each Robex share will result in 53.5% and 46.5% ownership of the combined company by PDI and Robex shareholders, respectively.

The transaction is subject to an independent expert concluding that the Scheme is in the best interests of Predictive shareholders, approval by regulatory board / committee, approval of offer by Predictive Discovery Limited shareholders and subject to court approval.

Macquarie Capital Limited acted as financial advisor for Perseus Mining Limited. Sternship Advisers Pty Ltd. acted as financial advisor for Perseus Mining Limited. Corrs Chambers Westgarth acted as legal advisor for Perseus Mining Limited. Stikeman Elliott LLP acted as legal advisor for Perseus Mining Limited. BMO Capital Markets acted as financial advisor for Predictive Discovery Limited. SCP Resource Finance LP acted as financial advisor for Predictive Discovery Limited. Fasken Martineau DuMoulin LLP acted as legal advisor for Predictive Discovery Limited. Herbert Smith Freehills acted as legal advisor for Predictive Discovery Limited. GenCap Mining Advisory Ltd. acted as financial advisor for Predictive Discovery Limited.

Perseus Mining Limited (ASX:PRU) cancelled the acquisition of remaining 82.20% stake in Predictive Discovery Limited (ASX:PDI) on December 11, 2025. Perseus Mining Limited offer is no longer deemed a superior proposal as per the terms of the Arrangement Agreement between Robex and Predictive. As such, the Perseus Proposal has been terminated.