Paladin Energy Ltd · ASX:PDN
Paladin Energy — Merger or Acquisition (June 2024)
30 slides from Paladin Energy's merger presentation, Jun 24, 2024
Slide 1: Paladin Energy to acquire Fission Uranium
Paladin Energy to acquire Fission Uranium 24 June 2024
Slide 2: Important Information & Disclaimer
Important Information & Disclaimer IMPORTANT – You must read the following before continuing securities regulatory authority of any jurisdiction has passed upon the accuracy information in this Presentation relating to Paladin or Fission is information that or adequacy of this Presentation. Any repr
Slide 3: Important Information & Disclaimer
Important Information & Disclaimer IMPORTANT – You must read the following before continuing and therefore, may not be comparable to similarly titled measures presented by In relation to information in this Presentation relating to mineral resource other entities, nor should they be construed as an
Slide 4: Important Information & Disclaimer
Important Information & Disclaimer IMPORTANT – You must read the following before continuing financial information derived from a production target, in the original market of this information cannot be guaranteed by Paladin or Fission. Paladin and announcement continue to apply and have not material
Slide 5: Call Participants
Call Participants Ian Purdy Ross McElroy Chief Executive Officer, President and Paladin Energy Ltd. Chief Executive Officer, Fission Uranium Corp. 5
Slide 6: Paladin and Fission – Deal highlights
Paladin and Fission – Deal highlights All scrip acquisition of Transaction Post closing Paladin Transaction supported consideration represents shareholders will own by Fission’s Board Fission Uranium Corp a 30.0% premium to ~76.0% of the combined of Directors2 by Paladin Energy via Fission sharehold
Slide 7: Paladin and Fission – A clean energy leader
Paladin and Fission – A clean energy leader Proven uranium Attractive growth Financial strength and Operational and Governance producer pipeline capital flexibility development expertise and ESG • Langer Heinrich Mine • Mine life extension work • US$3.5B pro-forma • Shared processing and • Clear pur
Slide 8: Compelling strategic rationale
Compelling strategic rationale 01 02 03 04 05 06 World-class Creation of Globally Enhanced Increased Shared production a leading significant exposure to international commitment to and growth Canadian uranium highly attractive capital a sustainable pipeline development hub resource uranium market ma
Slide 9: World-class production and growth pipeline
01 World-class production and growth pipeline Preliminary Economic Production Development Advanced Exploration Early-Stage Exploration Assessment Langer Heinrich Mine Patterson Lake South Michelin Mt Isa West Cluff NAMIBIA ATHABASCA BASIN, CANADA LABRADOR, CANADA AUSTRALIA ATHABASCA BASIN, CANADA •
Slide 10: Creation of a leading Canadian development hub
02 Creation of a leading Canadian development hub Fission’s Patterson Lake South & Exploration Portfolio Paladin’s Michelin Front-End Engineering Design Shallow, high-grade, Access to all key PFS expected Large deposit Only 15% of the (‘FEED’) nearing completion with large basement hosted infrastruc
Slide 11: Globally significant uranium resource
03 Globally significant uranium resource Mineral Resource1,2 (Mlbs U3O8, attributable) Pro-forma Total Mineral Resources (attributable) 1,323 1,047 Pro-forma Paladin will have 96.1Mlbs 127.7Mlbs the 3rd largest Resource Langer Heinrich Mine (75%)1 Michelin1 544 endowment of a listed uranium company
Slide 12: Enhanced exposure to highly attractive uranium market
04 Enhanced exposure to highly attractive uranium market Strong uranium demand driven by global decarbonisation Uranium supply shortage due to under-investment • Nuclear energy is the second largest source of global clean energy with almost zero • Disrupted project development pipeline over the las
Slide 13: Increased international capital markets presence
05 Increased international capital markets presence Market capitalization (US$B)1 Cameco 22.4 Enhances position as a leading uranium company globally Kazatomprom 10.5 NexGen 3.7 Access to a highly institutionalised, Paladin 2 international shareholder register (Pro-Forma) 3.5 UEC 2.5 Broader investo
Slide 14: Shared commitment to a sustainable future
06 Shared commitment to a sustainable future Financial reporting framework Combined ESG commitments Implementing three reporting A collective focus to help drive frameworks (SASB, GRI and TCFD) the global energy transition to and compliance with the IFRS a carbon-free, sustainable future Sustainabil
Slide 15: Paladin and Fission – Creating value for all shareholders
Paladin and Fission – Creating value for all shareholders Benefits to BOTH Shareholders Enhanced project Multi-asset Diversified Increased exposure Increased scale development production presence across to highly attractive long and global profile of pipeline expected by leading uranium term uranium
Slide 16: Appendices
PALADIN °¢ Fission URANIUM CORP, Appendices
Slide 17: Transaction summary
PALADIN °¢ Fission URANIUM CORP, 01 Transaction . summary .
Slide 18: Transaction summary
Transaction summary • Paladin to acquire 100% of the issued and outstanding shares of Fission (‘Fission Shares’) via a plan of arrangement under the Canada Business Corporations Act (the ‘Transaction’) in accordance with the terms of an arrangement agreement dated 22 June 2024 between Paladin and Fi
Slide 19: Asset portfolio
PALADIN °¢ Fission URANIUM CORP, 02 Asset portfolio a \
Slide 20: Production: Langer Heinrich Mine
Production: Langer Heinrich Mine Proven history Future upside at Mine overview • Open pit operation with proven Langer Heinrich Mine process flow sheet • 10 years of production history with over 43Mlbs U3O8 produced and • Production capacity of ~6Mlbs sold p.a. U3O81 • Placed into care and maintenan
Slide 21: Development: Patterson Lake South
Development: Patterson Lake South Location in a premier Project highlights Athabasca basin regional deposits uranium province • Located in the Athabasca Basin, • Shallow, concentrated ore body Canada • 130Mlbs of resource at 1.78% U3O81 • PLS hosts the Triple R deposit, PLS is one of the one of the
Slide 22: Preliminary Economic Assessment: Michelin Uranium Project
Preliminary Economic Assessment: Michelin Uranium Project Substantial PFS completion Exploration work completed expected during New FY2026 Mineral Licenses • US$75M of total historical • Updated PEA which • Only 15% of the tenement in-ground exploration inc. outlined a potential area has been tested
Slide 23: Exploration: Australian & Canadian portfolio
Exploration: Australian & Canadian portfolio Mount Isa Manyingee & Carley Bore Advanced • One of the most globally productive • Emerging regional uranium ISR mining mineralised belts method province exploration • Mineral Resource: 148.4Mlbs at 680ppm1 • Mineral Resource: 41.5Mlbs resource at • US$55
Slide 24: Mineral Resources and Ore Reserves
03 Mineral Resources and Ore Reserves
Slide 25: Mineral Resources and Ore Reserves – Langer Heinrich
Mineral Resources and Ore Reserves – Langer Heinrich Summary Mineral Resources1 Millions of Tonnes Grade U3O8 Contained U3O8 Grade V2O5 Contained V2O5 Location Classification (Mt) (ppm) (Mlbs) (ppm) (Mlbs) In situ -open pit Measured 79.1 450 78.6 145 25.5 In situ -open pit Indicated 23.5 375 19.5 12
Slide 26: Mineral Resources and Reserves – Patterson Lake South
Mineral Resources and Reserves – Patterson Lake South Summary Mineral Resources1 Notes: Millions of Tonnes Grade U3O8 Grade Au Contained U3O8 Contained Au 1. CIM (2014) definitions were followed for Mineral Resources. 2. Mineral Resources are reported at a cut-off grade of 0.25% U3O8, based on a lon
Slide 27: Mineral Resources table – Canadian exploration portfolio
Mineral Resources table – Canadian exploration portfolio Mineral Resources4 Millions of Tonnes Mlbs U3O8 Paladin Ownership Canada (Mt) Grade ppm U3O8 (100% basis) (%)3 Measured Michelin1 17.6 965 37.6 100 2 Rainbow 0.2 920 0.4 100 Indicated Gear2 0.4 770 0.6 100 2 Inda 1.2 690 1.8 100 Jacques Lake1
Slide 28: Mineral Resources table – Australian exploration portfolio
Mineral Resources table – Australian exploration portfolio Note: Values may not add due to rounding. Mineral Resources12 1 Refer Announcement (ASX:SMM) dated 19 October 2010 Million of Tonnes Mlbs U3O8 Paladin Ownership "Resource Upgrade for the Valhalla Uranium Deposit“ (reporting Australia (Mt) Gr
Slide 29: Peer comparison – Mineral Resources
Peer comparison – Mineral Resources Source: Company information, websites and Attributable Total Mineral Resources Company Stage Information Source Date presentations; public feasibility studies; (Mlbs U3O8 )1 technical reports and drilling update. Excludes Alligator Energy Development / Restart 24
Slide 30: Paladin Investor Relations
Paladin Investor Relations Fission Investor Relations Paula Raffo Bob Hemmerling Investor Relations Manager Senior Manager, Investor Relations T: +61 8 9423 8100 T: +1 877-868-8140 E: paladin@paladinenergy.com.au E: ir@fissionuranium.com Media Australia Canada Anthony Hasluck Ian Hamilton, Partner C