PERSEUS MINING LIMITED — Major Shareholding Notification 2019

Aug 8, 2019

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Ruffer LLP 80 Victoria Street London SW1E 5JL Fax +44 (0)20 7963 8175 www.ruffer.co.uk

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08 August 2019

The Manager Company Announcements Office ASX Limited 20 Bridge Street Sydney NSW 2000

By electronic lodgement

Dear Sir/Madam

Re: Notice of ceasing to be a substantial holder - Perseus Mining Limited

We enclose notice of ceasing to be a substantial holder in Perseus Mining Limited. This notice is given by Ruffer LLP.

Yours faithfully

Tony Allen Compliance Manager

attach

orm 605°,
-----------	--

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To_ Company Name/Scheme	Perseus Mining Limited
ACN/ARSN	106 808 986
1. Details of substantial holder(1)
Namé CAN/ARSN (if applicable)	Ruffer LLP
				W.
The holder ceased to be a substantial holder on		+ 45 07/08/2019
The previous notice was given to the company The previous notice was dated		30/10/2017 30/10/2017

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in veting securities of the company or scheme, since the
substantial holder was last required

Date of chenge	Person whose relevant interest	Nature of change (4)	Consideration given in relation to change(5)	Class (6) and number ٥١	Person's votes affected
07/08/2019	Ruffer LLP	See Annexure A.

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting
Interests in the company or scheme are as fo

. . Name and CAN/ARSN xtcable m aut ---------------------------------------	74/4/4/4/4/4/4/4/4/4/4/4/4/4/4/4/4/4/4/ Nature of association
NW	PALEMANY ------- N/A

4. Addresses

The addresses of persons named in this form are as follows:

_____ Name	Add:653
___ Ruffer L .	๏ฃฃ๚๚ฃฃฃ๚๚๚๚๚๚๚๚๚๚๚๚๚๚๚๚๚๚๚๚๚๚๚๚๚๚๚๚๚๚ 'Victoria Street, London, SW1E 5JL. ου

Signature

10.1	print name	Tony Alien $\label{eq:11} \bullet \bullet \bullet \bullet \bullet \bullet \bullet \bullet \bullet \bullet \bullet \bullet \bullet \bullet \bullet \bullet \bullet \bullet \$		Compilance Manager 767575777757575757575575757575757575757
	sign here	CONTRACTOR	cate	08/08/2019
		_________		-----------------------------

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an
  equity trust), the names could be included in an ann $\langle 1 \rangle$ throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 4 of the form.
• $\left( 2\right)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• $(3)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• $\langle 4 \rangle$ Include details of:
• (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting cut the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the axercise of, the voting powers or disposal of the securities to
  which the relevant interest relates (indicating clearly the $\bf{b}$

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• $(5)$ Details of the consideration must include any and all behefits, money and crier, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be
  Included of any benefit paid on behalf of the subst whom the relevant interest was acquired.
• $(6)$ The voting shares of a company constitute one class unless divided into separate classes.
• $\langle$ Give detaile, if appropriate, of the present association and any change in that association since the last substantial holding notice.

GUIDE This guide does not form part of the prescribed form and is included by ASIC to assist you in completing and lodging form 605.

sign and date the annexure 7. The annexure must be signed by the same person(s) who signed the form

Information in this guide is intended as a guide only. Please consult your accountant or solicitor for further advice.

Annexure A

This is Annexure A of 3 pages referred to in Form 605 - Notice of ceasing to be a substantial holder.

Date of change	Person whose Nature of change (4) relevant interest changed		Consideration given in relation to change(5)	$Cl$ ass $(6)$ and number о. securities	Person's votes affected
14/11/2017	Ruffer LLP	Purchase of ordinary shares	AUD 76,527.20	232,323 Ordinary Shares	232,323
21/11/2017	Ruffer LLP	Purchase of ordinary shares	AUD 114,478.33	348,382 Ordinary Shares	348,382
22/11/2017	Ruffer LLP	Purchase of ordinary shares	AUD 77,892.28	239,890 Ordinary Shares	239,890
23/11/2017	Ruffer LLP	Purchase of ordinary shares	AUD 258,601.45	795,452 Ordinary Shares	795,452
27/11/2017	Ruffer LLP $\mathbf{u}$	Purchase of ordinary shares	AUD 293,767.56	893,182 Ordinary Shares -	893,182
28/11/2017	Ruffer LLP	Purchase of ordinary shares	AUD 100,882.58	311,366 Ordinary Shares	311,366
29/11/2017	Ruffer LLP	Purchase of ordinary shares	AUD 161,300.00	500,000 Ordinary Shares	500,000
30/11/2017	Ruffer LLP	Purchase of ordinary shares	AUD 450,174.27	1,380,056 Ordinary Shares	1,380,056
01/12/2017	Ruffer LLP	Purchase of ordinary shares	AUD 146,394.18	450,721 Ordinary Shares	450,721
05/12/2017	Ruffer LLP	Purchase of ordinary shares	AUD 325,600.00	1,000,000 Ordinary Shares	1,000,000

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08/12/2017	Ruffer LLP	Purchase of ordinary shares	AUD 283,267.53	887,986 Ordinary Shares	887,986
11/12/2017	Ruffer LLP	Purchase of ordinary shares $\Sigma \rightarrow$	AUD 35,631.65	$\sqrt{12,014}$ Ordinary Shares	[112, 014]
12/12/2017	Ruffer LLP	Purchase of ordinary shares	AUD 222,830.47	710,783 Ordinary Shares	710,783
13/12/2017	Ruffer LLP	Purchase of ordinary shares BV.	AUD 91,103.36	289,217 Ordinary Shares	289,217
18/12/2017	Ruffer LLP	Purchase of ordinary shares	AUD 308,000.00	1,000,000 Ordinary Shares	1,000,000
16/01/2018	Ruffer LLP	Sale of ordinary shares	AUD 116,466.88	252,202 Ordinary Shares	252,202
17/01/2018	Ruffer LLP	Sale of ordinary shares	AUD 130,462.36	282,692 Ordinary Shares	282,692
25/01/2018	Ruffer LLP	Sale of ordinary shares	AUD 214,041.78	465,106 Ordinary Shares	465,106
09/04/2018	Ruffer LLP	Sale of ordinary shares	AUD 240,200.00	500,000 Ordinary Shares	500,000
11/04/2018	Ruffer LLP	Sale of ordinary shares	AUD 245,000.00	500,000 Ordinary Shares ®	500,000
19/04/2018	Ruffer LLP	Sale of ordinary shares	AUD 57,594.81	112,931 Ordinary Shares	112,931
02/08/2018	Ruffer LLP	Purchase of ordinary shares	AUD 193,900.00	500,000 Ordinary Shares	500,000

$\hat{\phi}^{\dagger}_{\lambda}$

18/09/2018	Ruffer LLP	Purchase of ordinary shares	AUD 38,967.61	112,137 Ordinary Shares	112,137
19/09/2018	Ruffer LLP	Purchase of ordinary shares	AUD 279,440.00	800,000 Ordinary Shares	800,000
10/10/2018	Ruffer LLP	Purchase of ordinary shares	AUD 210,259.20	621,517 Ordinary Shares	621,517
01/11/2018	Ruffer LLP	Purchase of ordinary shares $\mathbf{r}$	AUD 5,591.64	16,446 Ordinary Shares	16,446
27/02/2019	Ruffer LLP	Sale of ordinary shares	AUD 267,057.77	611,536 Ordinary Shares	611,536
26/03/2019	Ruffer LLP	Sale of ordinary shares	117,842.64 AUD	225,882 Ordinary Shares	225,882
17/04/2019	Ruffer LLP	Perseus Mining Warrant Exercise: 1 Share Received for Each Warrant Exercised at AUD0.44	AUD 777,920	1,768,000 Ordinary Shares	1,768,000
11/07/2019	Ruffer LLP	Sale of ordinary shares	AUD 652,100.00	1,000,000 Ordinary Shares	1,000,000
19/07/2019	Ruffer LLP	Sale of ordinary shares	691,400.00 AUD	1,000,000 Ordinary Shares	1,000,000
06/08/2019	Ruffer LLP	Sale of ordinary shares	129,248.01 AUD	159,408 Ordinary Shares	159,408
07/08/2019	Ruffer LLP	Sale of ordinary shares	AUD 1,182,337.37	1,443,988 Ordinary Shares	1,443,988

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