WEST AFRICA’S NEWEST LARGE GOLD PRODUCER Directors’ Report REMUNERATION REPORT - continued Details of remuneration: share-based compensation benefits Table 7 – Option grants as at 30 June 2011 5.0  Additional information Perseus’s performance during the 12 months to 30 June 2011 and the four previous years are set out in table 8  below. The following table details the percentage of the available grant that vested in the financial year and the percentage  forfeited because the person did not meet either/or service and performance criteria specified. The maximum value  of the options yet to vest has been determined as the amount of the grant date fair value of the options that is yet  to be expensed. Name Number of  Financial  Vested in  Forfeited  Financial  Minimum  Maximum options  period  current in current  period  total  total  granted  financial   financial  in which  value of  value of period  period  options may grant yet  grant yet vest to vest to vest No Yr % % Yr $ $ Senior executives  Susmit Shah  150,000  2011  -  -  2012  -  256,902 Kevin Thomson  300,000  2010  100  -  -  -  - Kevin Thomson  200,000  2011  -  -  2012  -  342,536 Jeffrey Quartermaine 400,000  2011  100  -  -  -  - Jeffrey Quartermaine 250,000  2011  -  -  2012  -  428,171 Year ended 30 June  2011  2010  2009  2008  2007  2006 Market capitalisation ($’000)  1,115,117  961,474  217,874  207,482  136,385  42,663 Closing share price ($)  2.62  2.30  0.73  1.19  1.16  0.48 Total shareholder returns – 1 year (%)  13.9  215.1  (38.7)  2.6  141.7  200.0 Total shareholder returns – 3 year rolling (%)  120.2  98.3  52.1  643.8  N/A  N/A Table 8 – Year on year performance 30