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PERSEUS MINING LIMITED Major Shareholding Notification 2025

Mar 25, 2025

46513_rns_2025-03-25_f2be4053-8083-462d-96c5-c0b53af0e015.pdf

Major Shareholding Notification

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604 GUIDE page 1/1 13 March 2000

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme

Perseus Mining Limited

ACN/ARSN

ACN/ARSN 106 808 986 1. Details of substantial holder (1) Name Van Eck Associates Corporation (and its associates referred to in paragraph 6). ACN/ARSN (if applicable) N/A There was a change in the interests of the substantial holder on 21/03/2025 The previous notice was given to the company on 29/01/2025 The previous notice was dated 28/01/2025

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4) Previous notice Previous notice Present notice Present notice
Person’s votes Voting power (5) Person’s votes Voting power (5)
Ordinaryshares 121,739,758
 8.87% 103,702,031 7.56%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of
change		 Person whose
relevant interest
changed		 Nature of
change (6)		 Consideration
given in relation
to change (7)		 Class and
number of
securities
affected		 Person’s votes
affected
Van Eck Associates
Corporation(VEAC)
See Annexure A

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of
relevant
interest		 Registered
holder of
securities		 Person entitled
to be registered
as holder (8)		 Nature of
relevant
interest (6)		 Class and
number of
securities		 Person’s votes
VEAC State Street Bank
and Trust Company
as custodian for
VanEck Africa Index
ETF		 VanEck Africa
Index ETF (AFK)		 VEAC holds its relevant
interest by having the
power to exercise, control
the exercise of, or
influence the exercise of,
the voting powers or
disposal of the securities
to which the relevant
interest relates in the
ordinary course of
investment management
business.		 Ordinary shares
559,412		 0.04%

ME_951682063_1

VEAC Bank of New York
Mellon as custodian
for ESB Pension Fund
GDX		 ESB Pension Fund
GDX(ESBGDX))		 Same as above. Ordinary shares
422,509		 0.03%
VEAC State Street Bank
and Trust Company
as custodian for
VanEck Gold Miners
ETF		 VanEck Gold
Miners ETF(GDX)		 Same as above. Ordinary shares
50,025,655		 3.65%
VEAC State Street
Australia Limited as
custodian for
VanEck Gold Miners
ETF (AU)		 VanEck Gold
Miners ETF
(GDXAU)		 Same as above. Ordinary shares
1,579,753		 0.12%
VEAC State Street Bank
and Trust Company
as custodian for
VanEck Junior Gold
Miners ETF		 VanEck Junior Gold
Miners ETF(GDXJ)		 Same as above. Ordinary shares
36,773,929		 2.68%
VEAC State Street
Australia Limited as
custodian for
VanEck Australian
Resources ETF		 VanEck Australian
Resources ETF
(MVR.AU)		 Same as above. Ordinary shares
1,923,896		 0.14%
VEAC State Street Bank
and Trust Company
as custodian for
International
Investors Gold		 International
Investors Gold(IIG)		 Same as above. Ordinary shares
1,590,800		 0.12%
VEAC State Street
Custodial Services
(Ireland) Limited as
depositary for
VanEck Global
Mining UCITS ETF		 VanEck Global
Mining UCITS ETF
(UCTGDIG)		 Same as above. Ordinary shares
849,003		 0.06%
VEAC State Street
Custodial Services
(Ireland) Limited as
custodian for
VanEck Gold Miners
UCITS ETF		 VanEck Gold
Miners UCITS ETF
(UCTGDX)		 Same as above. Ordinary shares
5,661,535		 0.41%
VEAC State Street Bank
and Trust Company
as custodian for Van
Eck VIP Global Gold
Fund		 Van Eck VIP Global
Gold Fund
(VGOLD)		 Same as above. Ordinary shares
156,800		 0.01%
VEAC State Street
Custodial Services
(Ireland) Limited as
custodian for
VanEck Junior Gold
Miners UCITS ETF		 VanEck Junior Gold
Miners UCITS ETF
(UCTGDXJ)		 Same as above. Ordinary shares
4,158,739		 0.30%

ME_951682063_1

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable) Nature of association

6. Addresses

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

Name Address
VEAC 666 Third Avenue, New York, NY 10017
Van Eck Securities Corporation 666 Third Avenue, New York, NY 10017
Van Eck Absolute Return Advisers, Inc. 666 Third Avenue, New York, NY 10017
VanEck Australia PtyLtd Level 47 Suite 2, 25 Martin Place, Sydney NSW 2000
VanEck Investments Limited Level 47 Suite 2, 25 Martin Place, Sydney NSW 2000
VanEck Asset Management B.V. Barbara Strozzilaan 310, 1083 HN Amsterdam, Netherlands

Signature

print name Ashley Sousa
capacity		 AVP, Portfolio Operations
sign here
date		 25/03/2025
DIRECTIONS
er of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and
trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar,
ed to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members
paragraph 6 of the form.
f "associate" in section 9 of the Corporations Act 2001.
f "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
of a company constitute one class unless divided into separate classes.
divided by the total votes in the body corporate or scheme multiplied by 100.

(1) 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 annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to 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 6 of the form.

  • (2) See the definition of "associate" in section 9 of the Corporations Act 2001.

  • (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

  • (4) The voting shares of a company constitute one class unless divided into separate classes.

  • (5) The person’s votes divided by the total votes in the body corporate or scheme multiplied by 100.

  • (6) 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 out 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

  • (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

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

  • (7) Details of the consideration must include any and all benefits, money and other, 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 on any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

  • (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write “unknown’”.

  • (9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

ME_951682063_1

This is Annexure A of 1 page referred to in Form 604 - Notice of change of interests of substantial holder.

Holder of relevant
interest		 Date of Acquisition B/S Consideration
Cash		 Consideration
Non-Cash		 Number of Securities
AFK 01/31/2025 S 16,740.46 - 5,837
AFK 02/19/2025 S - In-Kind 11,750
AFK 02/28/2025 S 27,958.99 - 9,549
AFK 03/21/2025 S 95,943.35 - 30,192
GDX 01/24/2025 S - In-Kind 54,054
GDX 01/27/2025 S - In-Kind 100,386
GDX 01/28/2025 S - In-Kind 532,818
GDX 01/30/2025 S - In-Kind 177,583
GDX 02/03/2025 S - In-Kind 270,235
GDX 02/04/2025 S - In-Kind 316,561
GDX 02/05/2025 S - In-Kind 494,144
GDX 02/06/2025 S - In-Kind 193,025
GDX 02/07/2025 S - In-Kind 154,420
GDX 02/10/2025 S - In-Kind 216,188
GDX 02/11/2025 S - In-Kind 478,640
GDX 02/12/2025 S - In-Kind 193,000
GDX 02/13/2025 S - In-Kind 61,760
GDX 02/14/2025 S - In-Kind 92,640
GDX 02/18/2025 S - In-Kind 193,000
GDX 02/19/2025 S - In-Kind 108,066
GDX 02/20/2025 S - In-Kind 455,421
GDX 02/24/2025 S - In-Kind 424,545
GDX 02/26/2025 S - In-Kind 185,232
GDX 02/27/2025 S - In-Kind 46,314
GDX 02/28/2025 S - In-Kind 108,052
GDX 03/13/2025 B - In-Kind 23,208
GDX 03/19/2025 S - In-Kind 193,775
GDX 03/20/2025 S - In-Kind 54,257
GDX 03/21/2025 S - In-Kind 310,040
GDX 03/21/2025 S 1,940,577.60 - 610,672
GDX 03/24/2025 S - In-Kind 167,948
GDXJ 01/24/2025 S - In-Kind 207,909
GDXJ 01/28/2025 S - In-Kind 115,500
GDXJ 02/04/2025 S - In-Kind 161,609
GDXJ 02/05/2025 S - In-Kind 161,651
GDXJ 02/11/2025 S - In-Kind 415,368
GDXJ 02/18/2025 S - In-Kind 276,996
GDXJ 02/19/2025 S - In-Kind 484,764
GDXJ 02/24/2025 S - In-Kind 69,234
GDXJ 02/26/2025 S - In-Kind 92,332
GDXJ 02/28/2025 S - In-Kind 207,747
GDXJ 03/20/2025 S - In-Kind 69,324
GDXJ 03/21/2025 S - In-Kind 531,484

Page 1 of 4

This is Annexure A of 1 page referred to in Form 604 - Notice of change of interests of substantial holder.

Holder of relevant
interest		 Date of Acquisition B/S Consideration
Cash		 Consideration
Non-Cash		 Number of Securities
GDXJ 03/21/2025 S 22,257,993.45 - 7,004,272
GDXJ 03/24/2025 B 224,987.26 - 70,557
IIG 02/19/2025 S 78,364.64 - 27,800
IIG 02/28/2025 S 41,423.42 - 14,000
VGOLD 02/07/2025 B 10,224.09 - 3,500
VGOLD 02/11/2025 B 8,733.49 - 3,000
VGOLD 03/14/2025 B 17,827.13 - 5,500
VGOLD 03/19/2025 B 8,562.42 - 2,700
VGOLD 03/21/2025 B 23,230.59 - 7,300
MVRAU 01/31/2025 B - In-Kind 22,086
MVRAU 01/31/2025 S 31,919.50 - 11,123
MVRAU 01/31/2025 B - In-Kind 11,043
MVRAU 02/19/2025 B - In-Kind 11,002
MVRAU 02/21/2025 B 12,085.63 - 4,167
MVRAU 02/25/2025 B 20,471.61 - 6,778
MVRAU 02/26/2025 S - In-Kind 11,042
MVRAU 02/28/2025 B 9,132.81 - 3,117
MVRAU 03/03/2025 B 22,945.46 - 7,597
MVRAU 03/05/2025 B 509,101.45 - 167,450
MVRAU 03/07/2025 S - In-Kind 11,761
MVRAU 03/07/2025 S - In-Kind 70,566
MVRAU 03/07/2025 S - In-Kind 152,893
MVRAU 03/07/2025 S - In-Kind 11,761
MVRAU 03/10/2025 S - In-Kind 35,289
MVRAU 03/10/2025 S - In-Kind 23,526
MVRAU 03/11/2025 S - In-Kind 35,286
MVRAU 03/11/2025 S - In-Kind 129,382
MVRAU 03/11/2025 S - In-Kind 35,286
MVRAU 03/11/2025 S - In-Kind 58,810
MVRAU 03/12/2025 S - In-Kind 235,240
MVRAU 03/13/2025 S - In-Kind 11,762
MVRAU 03/18/2025 S - In-Kind 11,761
MVRAU 03/20/2025 B - In-Kind 11,761
MVRAU 03/21/2025 S 666,674.28 - 209,646
MVRAU 03/24/2025 S - In-Kind 10,606
UCTGDX 01/28/2025 B 69,042.42 - 25,289
UCTGDX 02/05/2025 B 198,422.12 - 68,418
UCTGDX 02/12/2025 B 640,737.20 - 233,834
UCTGDX 02/18/2025 S 506,298.86 - 182,131
UCTGDX 02/19/2025 S 227,853.43 - 79,677
UCTGDX 02/25/2025 B 209,521.37 - 69,371
UCTGDX 02/26/2025 S 335,853.05 - 112,708
UCTGDX 02/28/2025 B 330,250.95 - 112,708

Page 2 of 4

This is Annexure A of 1 page referred to in Form 604 - Notice of change of interests of substantial holder.

Holder of relevant
interest		 Date of Acquisition B/S Consideration
Cash		 Consideration
Non-Cash		 Number of Securities
UCTGDX 03/05/2025 B 105,845.93 - 34,816
UCTGDX 03/06/2025 B 81,255.10 - 26,042
UCTGDX 03/10/2025 B 27,545.42 - 8,972
UCTGDX 03/12/2025 B 26,157.53 - 8,661
UCTGDX 03/13/2025 S 43,508.80 - 13,857
UCTGDX 03/14/2025 B 28,751.82 - 9,041
UCTGDX 03/18/2025 B 27,161.56 - 8,595
UCTGDX 03/21/2025 S 27,985.78 - 8,801
UCTGDX 03/21/2025 S 283,818.42 - 89,260
UCTGDX 03/24/2025 B 80,751.14 - 25,634
UCTGDXJ 02/28/2025 S 21,222.80 - 7,244
UCTGDXJ 02/28/2025 S 123,472.82 - 42,143
UCTGDXJ 03/05/2025 B 133,894.99 - 44,040
UCTGDXJ 03/07/2025 B 64,581.64 - 21,103
UCTGDXJ 03/11/2025 S 128,487.17 - 43,266
UCTGDXJ 03/12/2025 B 130,428.72 - 43,184
UCTGDXJ 03/19/2025 S 133,700.47 - 42,857
UCTGDXJ 03/21/2025 S 2,552,333.92 - 802,701
UCTGDXJ 03/21/2025 S 112,703.83 - 35,445
UCTGDIG 01/24/2025 S 61,096.49 - 21,981
UCTGDIG 02/18/2025 S 88,202.30 - 31,733
UCTGDIG 02/19/2025 S 127,822.49 - 44,701
UCTGDIG 03/07/2025 S 117,287.63 - 38,336
UCTGDIG 03/11/2025 S 27,509.27 - 9,264
UCTGDIG 03/14/2025 S 752,910.03 - 236,590
UCTGDIG 03/17/2025 S 381,458.17 - 121,896
UCTGDIG 03/21/2025 S 22,885.06 - 7,198
UCTGDIG 03/24/2025 S 42,668.73 - 13,548
GDXAU 02/06/2025 S 43,882.77 - 15,030
GDXAU 02/18/2025 B 6,494.80 - 2,336
GDXAU 02/24/2025 B 13,407.24 - 4,671
GDXAU 03/03/2025 B 9,891.59 - 3,275
GDXAU 03/12/2025 B 14,135.15 - 4,680
GDXAU 03/13/2025 B 7,480.23 - 2,382
GDXAU 03/18/2025 B 29,656.41 - 9,384
GDXAU 03/18/2025 B 29,656.71 - 9,384
GDXAU 03/19/2025 B 29,278.18 - 9,383
GDXAU 03/20/2025 B 14,965.94 - 4,691
GDXAU 03/21/2025 S 75,995.64 - 23,898
GDXAU 03/24/2025 B 14,557.61 - 4,621
GDXAU 03/24/2025 B 29,112.35 - 9,241
ESBGDX 03/14/2025 S 389,209.36 - 122,399
ESBGDX 03/21/2025 S 18,116.02 - 5,698

Page 3 of 4

This is Annexure A of 1 page referred to in Form 604 - Notice of change of interests of substantial holder.

Holder of relevant
interest		 Date of Acquisition B/S Consideration
Cash		 Consideration
Non-Cash		 Number of Securities
In-Kind transactions result from receiving a basket of securities (including PERSEUS MINING
LTD) in exchange for securities.

Page 4 of 4

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