Paladin Energy Ltd.

Successful Completion of A$50 Million Institutional Entitlement Offer

PERTH, WESTERN AUSTRALIA--(Marketwired - Nov. 26, 2014) -

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Paladin Energy Ltd (TSX:PDN)(ASX:PDN) ("Paladin" or the "Company") is pleased to announce today the successful completion of the accelerated institutional component of its non-renounceable entitlement offer (Institutional Entitlement Offer) announced on Monday, 24 November 2014.

The Institutional Entitlement Offer raised gross proceeds of approximately A$50 million at the entitlement offer price of A$0.26 per share (Entitlement Offer Price). Existing institutional shareholders strongly supported the offer, taking up more than 86% of their entitlements. This includes the full participation by new shareholder HOPU Clean Energy (Singapore) Pte. Ltd. ("HOPU") for its entitlement following the settlement and allotment of the placement to HOPU on Monday 24 November 2014 which raised approximately A$61 million. The fixed price bookbuild of entitlements not taken up under the Institutional Entitlement Offer was heavily oversubscribed.

New shares issued under the Institutional Entitlement Offer will rank equally with existing Paladin shares and are expected to be allotted on Thursday, 4 December 2014. Trading will commence on a normal settlement basis on ASX the same day.

Commenting on the outcome of the Institutional Entitlement Offer, Paladin CEO and Managing Director, John Borshoff said, "We are very pleased with the outcome of the Institutional Entitlement Offer and we thank our existing institutional investors for their ongoing strong support of Paladin."

Commencement of Retail Entitlement Offer

A further approximately A$94 million is expected to be raised through the retail component of the Entitlement Offer (Retail Entitlement Offer). The Retail Entitlement Offer has been fully underwritten.

Retail shareholders eligible to participate under the terms of the Retail Entitlement Offer (Eligible Retail Shareholders) will be able to subscribe for 1 New Share for every 2 Paladin ordinary shares held at 7.00pm (Sydney time) on Thursday, 27 November 2014 (the Record Date), at the same Entitlement Offer Price as under the Institutional Entitlement Offer.

The Retail Entitlement Offer will open on Monday, 1 December 2014. The Retail Entitlement Offer will close at 5.00pm (AEDT) 10 December 2014 for payments by Bpay®, or 5.00pm (AEDT) 5 December 2014 for payments by cheque.