Paladin Successfully Completes A$300 Million Equity Raising

Not for release to US wire services or distribution in the United States

PERTH, Australia, Sept. 16, 2025 (GLOBE NEWSWIRE) -- Paladin Energy Ltd (ASX:PDN, TSX:PDN, OTCQX:PALAF) (Paladin or the Company) announces the successful completion of its fully underwritten equity raising, comprising (i) an ~A$231 million ASX institutional placement of new Paladin fully paid ordinary shares (Shares) (ASX Placement), (ii) a Canadian “bought deal” private placement to raise C$30 million (~A$33 million) pursuant to the Listed Issuer Financing Exemption (as defined herein) (TSX Bought Deal), and (iii) a fully underwritten sale of ~A$36 million of existing Shares issued and subsequently acquired as a result of the acquisition of Fission Uranium Corp. (Fission) (Treasury Share Sale), to raise a total amount of A$300 million (together, the Offer).¹

As announced on 16 September 2025, the Company also intends to undertake a non-underwritten Share Purchase Plan at the same price as the ASX Placement and Treasury Share Sale to raise up to a further A$20 million (before costs) (SPP).

Highlights

• Successful bookbuild for a fully underwritten equity raising to raise A$300 million (before costs), comprising:
  • ASX Placement of approximately 31.9 million new Shares priced at A$7.25 per Share to raise ~A$231 million (before costs)
  • TSX Bought Deal of approximately 4.5 million new Shares priced at C$6.66 per Share to raise C$30 million (~A$33 million) (before costs)¹
  • Treasury Share Sale of approximately 5.0 million Shares priced at A$7.25 per Share to raise ~A$36 million (before costs)
• Strong demand received from new and existing investors, both domestically and internationally
• Opportunity for Eligible Shareholders (as defined herein) with registered addresses in Australia and New Zealand to participate via a non-underwritten SPP to raise up to a further A$20 million
• Proceeds from the equity raising will primarily be used to advance the development of the Patterson Lake South Project (PLS Project) towards a final investment decision (FID)
• The equity raising positions Paladin with the balance sheet flexibility to progress the PLS Project alongside the ongoing ramp up of the Langer Heinrich Mine (LHM), which is on track to be completed by the end of FY2026 with full mining and processing plant operations planned for FY2027

Paul Hemburrow, Paladin Managing Director and Chief Executive Officer, commented: