Paladin Energy Ltd.: December 2024 Half Year Financial Results Overview

Press Release

26 February 2025

Paladin Energy Ltd (ASX:PDN, TSX:PDN, OTCQX:PALAF) (“Paladin” or the “Company”) provides its financial results for the six months ended 31 December 2024. The Company recommenced production at the Langer Heinrich Mine (LHM) on 30 March 2024, with a steady ramp-up program underway to achieve full production.

Paladin’s focus at the LHM continues to be on embedding operational gains and de-risking the future performance of the mine and production process. Paladin has produced 1.3Mlb and delivered over 1.1Mlb of uranium to customers over the period in a robust global uranium market.

During the period, Paladin completed the acquisition of Fission Uranium Corp. (Fission) and listed on the Toronto Stock Exchange (TSX ). The combination of production at the LHM and the addition of the high-grade Patterson Lake South ( PLS) project to its Canadian growth portfolio, now positions Paladin as one of the world’s largest pure play uranium companies.

HIGHLIGHTS

⦁ Production from the LHM ramped up during the period with 1.3Mlb U3O8 produced for the first six months of FY2025. Paladin sold 1.1Mlb U3O8 to customers generating US$77.2M in revenue

⦁ LHM remains on track to meet the revised production guidance of 3.0 – 3.6Mlb U3O8 for FY2025

⦁ Average realised uranium price of US$68.8/lb1 with a cost of production of US$42.1/lb2 for the period

⦁ Cashflow from operating activities of US$30.5M and free cashflow from operations (post capital expenditure) of US$6.4M

⦁ Cost of sales of US$76.3M includes the expensing of the previously mined ore stockpile processed into finished product and sold during the period

⦁ The acquisition of Fission was completed on 24 December 2024 and Paladin became a dual-listed entity on the TSX and ASX on 27 December 2024, with the integration of the Fission business and team advancing to plan

⦁ As at 31 December 2024, the Company held US$165.8M in unrestricted cash and short-term investments, along with an undrawn Revolving Debt Facility of US$50M.

1 Average Realised Price is calculated as the average revenue received per pound sold
2 Cost of Production includes stockpile rehandling costs, processing costs & site administration costs, excludes G&A costs

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