PERPETUA RESOURCES CORP.

On November 14, 2025, the Corporation entered into a subscription agreement with a private, non-affiliated investor pursuant to which the Corporation agreed to sell and issue, for aggregate gross proceeds of $24.3 million (i) 1,000,000 common shares, no par value, of the Corporation at a price of $24.25 per common share, and (ii) Warrants for an aggregate issue price of $1.00, which Warrants are exercisable to purchase up to an aggregate of 400,000 common shares. The Warrants will be issued in three tranches with the same exercise prices and on substantially the same terms and conditions as the Warrants issued in the Private Placements. This transaction is expected to close on or about November 19, 2025. Pursuant to the terms of this subscription agreement, the investor will also receive resale registration rights under the registration rights agreement entered into in connection with the Private Placements. The subscription agreement contains customary representations and warranties of the parties, and indemnification obligations of the Corporation. The Corporation will not pay any underwriting discounts or commissions with respect to the common shares that are to be sold in this private placement. The sale of the common shares issued in the private placement will not be registered under the Securities Act in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act.