Perpetua Resources Corp. (PPTA) SEC Filings & Earnings Calls

Litigation risk from environmental groups and Nez Perce Tribe challenging permits

“a lawsuit was filed against the USFS, USDA and other federal agencies on February 18, 2025, in the United States District Court for the District of Idaho by a number of environmental advocacy groups ... alleging violations of NEPA and other federal laws” · word for word

Financing risk: EXIM loan not yet finalized; conditions precedent remain

“There can be no assurance the terms or amount of such loan will be the same as those approved by the board of U.S. EXIM or that the proposed financing plan will be sufficient for us to construct the Project.” · word for word

Cost overrun risk during construction phase

“the Company expects that it will be required to put in place one or more secured accounts or facilities to fund potential cost overruns during the construction phase of the Project.” · word for word

Ongoing litigation risk from environmental groups challenging Stibnite Gold Project permits.

“Plaintiffs may appeal denial of preliminary injunction; cross-motions for summary judgment pending.”

Litigation not fully resolved; decision could be appealed and final outcome uncertain.

“Investors should be aware that the U.S. District Court’s decision ... is not a final decision on the ongoing lawsuit ... and could be appealed.”

Loan closing subject to definitive documentation and conditions precedent; no assurance of funding.

“Funding under the EXIM loan is subject to completion of definitive documentation and satisfaction of conditions precedent.”

Litigation risk from environmental groups and Nez Perce Tribe challenging federal permits

“On May 8, 2026 the plaintiffs in the Federal Environmental Case filed a motion for a preliminary injunction seeking to delay certain planned construction activities for the Project.” · word for word

EXIM loan approval not guaranteed; final funding conditional on board vote and documentation

“There can be no assurance that the board will vote to approve the loan at the May 21 meeting, at a different meeting, or at all.” · word for word

Cost overruns and additional financing needs for construction phase

“The Company expects that it will be required to put in place one or more secured accounts or facilities to fund cost overruns during the construction phase of the Project.” · word for word

Related party transaction risk with Idaho Power

“Jeffrey L. Malmen, a director of Perpetua, has served as a senior vice president of public affairs at IDACORP, Inc., the parent company to Idaho Power Company” · word for word

Dependence on major shareholder Paulson & Co.

“Prior to the Private Placement and the Public Offering, Paulson held in the aggregate approximately 35% ownership of Perpetua's Common Shares.” · word for word

Termination for convenience by PRII requires specified payment obligations; change orders possible for taxes, tariffs, or force majeure.

“Second Amendment may be terminated by PRII for convenience upon 30 days' notice, subject to payment obligations; Purchase Price adjustable by change order under limited circumstances.”

Financing Risk

“We do not currently have sufficient funds or committed financing necessary to fund the estimated capital cost of the Project” · word for word

Permitting Litigation Risk

“lawsuits were filed against the USFS, USDA and other federal agencies on February 18, 2025... challenging the USFS ROD” · word for word

Construction Cost Overrun Risk

“Construction of mine facilities is subject to all of the risks inherent in construction and start-up, including delays and costs of construction in excess of our projections.” · word for word

Metal Price Risk

“Metal prices have fluctuated widely in the past and are expected to continue to do so in the future, which may adversely affect the amount of revenues derived from the future commercial production.” · word for word

Redacted contract terms limit visibility into financial impact

“Portions of this exhibit have been redacted in compliance with Regulation S-K Item 601(b)(10)(iv)” · word for word

Project financing risk remains high; EXIM loan approval uncertain

“Forward-looking statements highlight dependence on EXIM financing and permitting.”

Redacted contract terms limit visibility into financial commitments.

“Portions redacted per Regulation S-K Item 601(b)(10)(iv).”

Project financing and RFP decision delayed to 2026.

“Antimony off-site processing RFP decision expected in 2026.”

Financing Risk

“We do not currently have sufficient funds or committed financing to fund the estimated capital cost of the Project” · word for word

Permitting and Legal Risk

“claims were filed in the U.S. District Court for the District of Idaho against the USFS and other federal agencies ... seeks to vacate key governmental permits and Project approvals and enjoin any further implementation of the Project.” · word for word

Shareholder Concentration Risk

“Paulson holds in the aggregate 26.5% of the outstanding shares in Perpetua as of November 3, 2025. Accordingly, Paulson has significant influence in determining the outcome of any corporate transaction” · word for word

Government Shutdown Risk

“the recent federal government shutdown has resulted, and may continue for a prolonged period of time to result, in reduced availability of government services, and suspension or delay of activities by key agencies” · word for word

Cost Overrun Risk

“Cost estimates have in the past and may in the future increase significantly as more detailed engineering work and studies are completed and as construction activities progress.” · word for word

Dilution from equity offering.

“Issuance of 2,938,000 shares plus 280,415 shares in private placement.”