Paladin Energy Ltd · ASX:PDN
Paladin Energy — Shaw and Partners Uranium Conference 2021
26 slides from Paladin Energy's conference presentation, February 2021
Slide 1: Paladin February 2020
PALADIN FEBRUARY 2020
Slide 2: Disclaimer
PALADIN Disclaimer This presentation contains summary information about the Company's activities current as at the date of this presentation. The information in this presentation is of a general background nature and does not purport to. be complete or contain all the information investors would req
Slide 3: Proven 10-year track record of uranium production from Langer Heinrich
PALADIN Proven 10-year track record of uranium production from Langer Heinrich with 43Mlb of U0, shipped to customers Fully permitted to resume mining, processing and uranium exports Long-life operation with competitive economics underpinned by Comprehensive Mine Restart Plan! Significant high-grade
Slide 4: Globally significant uranium province
PALADIN ws ie me LEGEND ® Uren nine ES rtemationa airport Port — Henway Main Road === Reiway River Langer Heinrich Mine REPUBLIC OF ‘SOUTH AFRICA Globally significant uranium province (Husab, Rossing and Langer Heinrich) when at full capacity supplies ~12% of the world’s uranium 4 Uranium has been c
Slide 5: Langer Heinrich's proven production track record
Langer Heinrich’s proven production track record PALADIN Paladin own 75% of Langer Heinrich with 25% owned by CNNC Overseas Uranium Holdings Limited! ¢ First production from Langer Heinrich in 2007 with peak production of 5.6Mlbs in 2014 before operations suspended due to low uranium prices in 2018
Slide 6: Cost to Restart a Life of Mine
PALADIN Cost to Restart a Life of Mine C1 Operations Cost of Production 2 Production Restart Capital Intensity? jer Heinrich
Slide 7: Ramp Up Mining Phase Stockpile Phase
PALADIN Ramp Up Mining Phase Stockpile Phase 7 i - 700 6 ————— 600 500 00 00 00 : 100 Crushed (t) Production (tb) Millions ° an XN @ 5 a oT _<<<<———— A __ <<a. = R @ Yt: Y2 Y3 Y4 YS Y6 Y7 Y8iY9 Yi0 Yit Yi2 Yi3 Yi4 Y15 Y16 Yr: mmm Material Crushed (t) mmm U308 Production (lbs) Grade (ppm) Information
Slide 8: Continuing to optimise and de-risk the Mine Restart Plan
Continuing to optimise and de-risk the Mine Restart Plan The Company continues to advance the critical-path elements of the Langer Heinrich Mine Restart Plan’, including: . . . Optimisation of pit shells and improved pit design Updating the Mineral Resource model Engagement with mining contractor on
Slide 9: Globally significant high grade exploration portfolio
PALADIN Cy) Globally significant high grade exploration portfolio Global Exploration Project 203Mt at 710ppm U30g for 317.6Mlb Ls Low holding costs across the portfolio with long duration exploration E licenses Manyingee K Extensive historical exploration activity has seen over US$140m spent on the
Slide 10: Diverse exploration portfolio delivers future optionality
Diverse exploration portfolio delivers future optionality PALADIN Michelin’ (Canada - 60% interest) + Mineral Resource (M+I+l): 127.7Mlb at 860 ppm + US$75M of total historical in ground exploration + Potential for ~6Mlbpa open cut and underground mine Mount Isa’ (Australia — 100% interest) + Minera
Slide 11: Why Uranium?
Slide 12: Langer Heinrich's proven uranium product
Langer Heinrich’s proven uranium product * PALADIN + 43Mlb U3Og successfully marketed over 10 Langer Heinrich Sales by Utility Sales by years Customer Group Region * Delivered product aligned to feedstock specifications of global UF, conversion facilities operated by Cameco, Honeywell, Orano and CNN
Slide 13: Structural supply deficit with growing demand
Structural supply deficit with growing dem World Nuclear Association - Supply Shortage World Nuclear Generation Facts Tonnes U 125,000 100,000 75,000 ee 20% of United States Electricity Generation! 50,000 25,000 | | | | | | | | | | | | | | | | | lI | l 2nd largest source of global clean e| almost Ze
Slide 14: Future Contracted Coverage Rates of US & European Utilities
PALADIN Future Contracted Coverage Rates of US & European Utilities Contract coverage (% of total requirements) 120% 100% 80% 60% 40% 20% 0% 2020 2021 2022 2023 2024 2025 2026 2027 meee European Utilities Coverage 2019 (Euratom) —— US Utilities Coverage 2019 (EIA) ——= US Utilities Coverage 2020 (UxC
Slide 15: Paladin Investment Conclusion
Paladin Investment Conclusion
Slide 16: What does it mean for Paladin?
What does it mean for Paladin? Strong operational track record + Proven track record with 10 years of production + 43Mlb of U3Og successfully marketed product + Langer Heinrich extensive Care & Maintenance ensures operational readiness + Mine Restart Plan pathway maximises operational runtime Langer
Slide 17: Appendix
Slide 18: Our ESG commitment
Our ESG commitment PALADIN Paladin is committed to the core principle of delivering value through sustainable development. Our Paladin Values support every decision we take. With these strong foundations, we can focus on achieving economic, social and environmental sustainability in balanced and suc
Slide 19: Paladin Corporate snapshot
Paladin Corporate snapshot Market Snapshot ASX: PDN A Supportive Shareholder Base? Shares on issue! 2.057B Geographic split Top 50 holders own 90% of shares Share price! AS 0.33c Market capitalisation! AS 654M Market capitalisation! 2 USS 504M Unrestricted Cash USS 31.8M Debt’ USS 153.0M ‘ > Neg Aus
Slide 20: Meet the Board and CEO
Meet the Board and CEO Non-Executive Chairman | Mining executive with deep expertise in the minerals and energy sectors derived from global experience having worked : extensively in project development :_ and investment banking. A : successful track record of leading strategic direction in companies
Slide 21: The Executive Team
The Executive Team Chief Financial Officer Corporate finance professional with 25 years’ of experience cross the energy and resources ectors in senior management ‘oles. Her experience includes unding execution, commercial management, accounting, finance ind treasury in both the ASX isted and private
Slide 22: Mining Rate
PALADIN Mining Rate (in-situ) Mt 27.8 21.6 20.2 24.6 7.6 0.0 Mill Throughput Mt 3.44 3.72 3.40 3.57 3.52 2.95 Mill Feed Grade ppm 812 783 768 699 610 475 Recovery % 86.0% 87.0% 87.6% 86.3% 87.7% 88.5% U30g Production Mlb 5.3 5.6 5.0 48 42 2.7 C1Cost of Production USS/lb 30.0 27.7 29.0 25.9 18.9 26.2
Slide 23: Mineral Resources Table — Langer Heinrich
Mineral Resources Table — Langer Heinrich PALADIN Mlb U;0, Mlb U;0, Mlb U;0, Mlb U0, | Paladin Uranium Mineral Resources! (100% Grade (100% Grade (100% (100% | Ownership 250ppm U30g cutoff basis) Mt ppm U,0, | __ basis) Mt ppm U,0, | basis) basis) (%) In-situ 66.2 490 719 18.8 435, 18.0 6.3 420 5.8
Slide 24: Mineral Resources Table - Canadian Exploration portfolio
Mineral Resources Table - Canadian Exploration portfolio PALADIN Mlb Us0s Mineral Resources Mt Grade ppm UsOs (100% basis) Paladin Owner (% Measured Michelin! 7.6 965 37.6 60 Rainbow? 0.2 920 04 60 Indicated Gear’ 0.4 770 0.6 60 Inde? 12 690 18 60 Jacques Lake! 13.0 630 18.0 60 Michelin! 20.6 980 44
Slide 25: Mineral Resources Table - Australian Exploration portfolio
PALADIN Pina Resoures aT Grad mae Mlb Us03 (100% basis) Paladin Ownership Austral Measured Valhalla! 100 Indicated Andersons” 1.4 1,450 46 100 Bikini? 5.8 495 6.3 100 Duke Batman* 0.5 1,370 1.6 100 8.2 555 10.0 100 14.3 640 20.2 100 18.6 840 34.5 100 Carley Bore” 5.4 420 5.0 100 Manyingee® 8.4 850 1
Slide 26: Paladin contact details
‘PALADIN Clean energy. Clear future. Level 4 502 Hay Street Subiaco WA 6008 +618 9423 8100 paladin@paladinenergy.com.au paladinenergy.com.au
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