Segment Reporting

9 Months Ended

Sep. 30, 2025

8.Segment Reporting

Operating segments are defined as components of an enterprise that engage in activities from which it may earn revenues and incur expenses for which separate operational financial information is available and is regularly evaluated by the Chief Operating Decision Maker (the “CODM”), who is our Chief Executive Officer (“CEO”), for the purpose of allocating an enterprise’s resources and assessing its operating performance. The Company has determined that it operates as a single reportable segment, focused on the exploration of its mineral interests in the state of Idaho, United States. This determination is based on the financial information reviewed by the CODM, which is assessed at a consolidated level.

The CODM is responsible for evaluating performance, allocating resources, and making strategic decisions. The primary measure used to assess the Company’s profitability is consolidated net loss, which is used to compare budgeted versus actual results and informs operating cash flow decisions on a monthly basis. The financial position, results of operations, and cash flows of the Company’s single reportable segment align with the unaudited condensed consolidated financial statements presented herein. The measure of segment assets is reported on the consolidated balance sheet as total assets.

The CEO primarily evaluates the Company’s performance based on consolidated net loss and reviews significant expenses, when applicable, on a consolidated basis, consistent with the presentation in the consolidated statements of operations. While the CEO’s primary focus is on overall consolidated results, he also reviews supplemental information on exploration costs by major category. The following table presents the Company’s exploration costs by major category:


	For the three months ended September 30,				For the nine months ended September 30,
	2025		2024		2025		2024
Consulting and labor cost	$	3,922,799	$	1,841,587	$	9,251,511	$	5,412,861
Engineering		22,688,621		8,531,804		32,486,009		16,778,292
Environmental and reclamation		35,683		112,037		316,701		282,360
Field operations and drilling support		2,390,295		1,140,253		5,272,927		2,495,489
Legal and sustainability		542,098		319,685		1,467,479		905,679
Permitting		2,547,687		2,565,487		7,392,522		5,642,569
TOTAL EXPLORATION	$	32,127,183	$	14,510,853	$	56,187,149	$	31,517,250

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

PERPETUA RESOURCES CORP. 10-Q