Paladin Energy Ltd · ASX:PDN
Paladin Energy — Diggers & Dealers Mining Forum 2025
28 slides from Paladin Energy's conference presentation, Aug 4, 2025
Slide 1: Diggers & Dealers Mining Forum
Diggers & Dealers Mining Forum 4 August 2025
Slide 2: Important Notice
This presentation (Presentation) is dated 4 August 2025 and has been exclude all liability whatsoever (including in negligence) for any loss or Foreign Estimates prepared by Paladin Energy Ltd (the Company or Paladin) based on damage which may be suffered by any person as a consequence of any inform
Slide 3: A global uranium producer with scale and growth
A global uranium producer with scale and growth Foundation elements in place to underpin Paladin’s growth and value creation Strong uranium market Final phase of the Exceptional growth outlook driven by nuclear Langer Heinrich Mine1 opportunity at the energy demand (LHM) ramp-up Patterson Lake South
Slide 4: Multi-decade production and growth pipeline
Multi-decade production and growth pipeline Exploration portfolio Namibia Canada in Australia6 and Canada Preliminary Economic Early-Stage Exploration Production Development Advanced Exploration Assessment (Athabasca Basin) Langer Heinrich Patterson Manyingee & Mount Juliet 11,148 ha Mine Lake South
Slide 5: Uranium Market Outlook
pyebeeees > PALADIN Uranium Market Outlo Vi
Slide 6: Nuclear energy demand driven by the need for clean & reliable, baseload power
Nuclear energy demand driven by the need for clean & reliable, baseload power • Current demand for uranium is underpinned by existing reactor fleet, reactors under construction and reactor life extensions & restarts in the US and elsewhere • Significant incremental demand for nuclear energy: COP28
Slide 7: Disconnect between uranium requirements and supply
Disconnect between uranium requirements and supply • Largest uranium consuming countries (US, China and France) have minimal domestic supplies8 North Russia America • European utilities currently 35 39 source ~50%10 of their Europe requirements from Kazakhstan, Russia and Niger. They are increasingl
Slide 8: Langer Heinrich Mine (LHM) Namibia
Langer Heinrich Mine (LHM) Namibia
Slide 9: LHM | Operational ramp-up expected to be completed by end of FY2026
LHM | Operational ramp-up expected to be completed by end of FY2026 3.0Mlb U3O8 US$65.7/lb U3O8 US$40.2/lb U3O8 produced in ramp up year FY20252 average realised price in FY20252 cost of production in FY20252 Mining commenced Plant optimised Long-life operation in April 2025 with full mining fleet c
Slide 10: LHM | Building on the mining capability
LHM | Building on the mining capability Full mining capacity planned for FY20273 • ~50% of the planned mining fleet capacity in operations as at 30 June 20253 • Remaining mining fleet scheduled for delivery in late CY2025 and expected to be commissioned and in service during the second half of FY202
Slide 11: LHM | Processing plant optimisation delivering recovery stability and throughput improvement
LHM | Processing plant optimisation delivering recovery stability and throughput improvement Highest quarterly crusher circuit FY2025 Tonnes Processed, Production and Sales2 throughput in the history of the LHM operations achieved in the 1,400 95% 88% 88% June 2025 quarter2 Target overall recovery r
Slide 12: LHM | Infrastructure ready for full operations
LHM | Infrastructure ready for full operations Tailings Storage Facility 6 successfully commissioned to provide capacity for ongoing production Refurbished power infrastructure with track record of reliable power supply NamWater upgrades and on-site water management strategies implemented for long-t
Slide 13: LHM | Contract book with tier-one global customers
LHM | Contract book with tier-one global customers U3O8 sold to global customers in Contract pricing mix (2025-30)15 2.7Mlb FY20252 57% Market-related prices US$65.7/lb FY2025 average realised price2 24.1Mlb uranium sales agreements with 43% 13 tier-one global customers in the US, Europe and Asia2 B
Slide 14: Patterson Lake South (PLS) Project Canada
Patterson Lake South (PLS) Project Canada
Slide 15: PLS Project | Shallow, undeveloped high-quality uranium project in the Athabasca Basin
PLS Project | Shallow, undeveloped high-quality uranium project located in the Athabasca Basin Region PALADIN CANADA PROPERTIES DEPOSITS • Jurisdiction: stable, supportive government and DEVELOPMENT PROJECTS SHOWINGS communities with access to a skilled workforce and established infrastructure CURRE
Slide 16: PLS Project | Exceptional growth opportunity
PLS Project | Exceptional growth opportunity Located in the Shallow, high-grade ~9Mlb p.a. U3O8 Athabasca Basin Region uranium project world’s premier high-grade uranium mining 93.7Mlb U3O8 of Probable Mineral Reserve production target over a 10-year mine life district at 1.41%18, hosted in basement
Slide 17: PLS Project | Delivering progress towards development
PLS Project | Delivering progress towards development Significant milestones achieved since acquisition • Exemption granted by the Canadian Government from the Non-Resident Ownership Policy (NROP) in the Uranium Mining Sector for the PLS Project, allowing Paladin to maintain a 100% controlling inter
Slide 18: PLS Project | What's next
PLS Project | What’s next Paladin is focused on unlocking PLS Project value • Completion of full review of the PLS Project feasibility study • Ongoing engagement with Indigenous Peoples • Provincial EIS approval and permitting • Future drilling program focused on Triple R resource extension and the
Slide 19: Growth
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Slide 20: Exploration | Maximising value through strategic prioritisation
Exploration | Maximising value through strategic prioritisation Global uranium exploration capability strengthened to drive disciplined organic growth Patterson Lake South, Canada • Early target testing around greater PLS has unlocked new prospective trend at Saloon East20 • Continue testing along P
Slide 21: Exploration | Exceptional exploration upside and potential to extend PLS resource
Exploration | Exceptional exploration upside and potential to extend PLS resource Saloon East is a new prospective trend located 3.5 km southeast of Triple R • Saloon East was discovered in August 2024 and is the most significant zone of radioactivity identified outside of Triple R on the PLS proper
Slide 22: Delivering Sustainable Value
Delivering Sustainable Value
Slide 23: Delivering sustainable value
Delivering sustainable value Maximise Advance the PLS Deliver organic Drive production from Project towards growth via sustainable the LHM development exploration value for shareholders 23 23
Slide 24: Clean Energy. Clear Future.
Clean Energy. Clear Future.
Slide 25: Appendices
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Slide 26: Mineral Resources and Ore Reserves Langer Heinrich Mine
Mineral Resources and Ore Reserves Langer Heinrich Mine Summary Mineral Resources1 As at 30 June 2024 Millions of Tonnes Grade U3O8 Contained U3O8 Grade V2O5 Contained V2O5 Location Classification (Mt) (ppm) (Mlb) (ppm) (Mlb) In-situ open pit Measured 79.1 450 78.6 145 25.5 MG2 stockpiles Measured 5
Slide 27: Mineral Resources and Reserves Patterson Lake South Project
Mineral Resources and Reserves Patterson Lake South Project Summary Mineral Resources1 Notes: Millions of Tonnes Grade U3O8 Grade Au Contained U3O8 Contained Au Classification 1. CIM (2014) definitions were followed for Mineral Resources. (Mt) (%) (g/t Au) (Mlb) (koz) 2. Mineral Resources are report
Slide 28: Notes
Notes 1. Paladin has a 75% interest in the LHM 2. Refer to Paladin’s exchange announcement titled “Quarterly Activities Report – June 2025” dated 23 July 2025. 3. Refer to Paladin’s exchange announcement titled “Langer Heinrich Mine FY2026 Guidance” dated 23 July 2025. 4. Refer to Paladin’s exchange