Paladin Energy Ltd · ASX:PDN
Paladin Energy — Jefferies 7th Asia Forum 2026
28 slides from Paladin Energy's conference presentation, Mar 19, 2026
Slide 1: Jefferies 7th Asia Forum
Jefferies 7th Asia Forum 17 to 19 March 2026
Slide 2: Important Notice
Not an Offer forward-looking statements will prove to be accurate. Princep, a full-time employee of Gill Lane Consulting Pty Ltd, each a “qualified person” under NI 43-101. This Presentation is for information purposes only and does not constitute an Readers should not place undue reliance on forwar
Slide 3: A global uranium producer with scale and growth
A global uranium producer with scale and growth Foundations in place to underpin Paladin’s growth and value creation Strong uranium Final phase of the Growth via Balance sheet market outlook driven Langer Heinrich Mine1 Patterson Lake South flexibility by nuclear energy ramp-up underway Project dema
Slide 4: Multi-decade production and growth pipeline to capture the growing uranium supply deficit
Multi-decade production and growth pipeline to capture the growing uranium supply deficit Exploration portfolio Namibia Canada in Australia1 and Canada Preliminary Economic Early-Stage Exploration Production Development Advanced Exploration Assessment (Athabasca Basin) Langer Heinrich Patterson Lake
Slide 5: Uranium Market Outlook
pyebeeees > PALADIN Uranium Market Outlo Vm
Slide 6: Global nuclear energy demand driven by the need for clean and reliable baseload power
Global nuclear energy demand driven by the need for clean and reliable baseload power • Current demand for uranium is underpinned by existing global reactor fleet, reactors under construction and reactor life extensions & restarts in the US and elsewhere • Significant incremental demand for nuclear
Slide 7: Uranium contracting returning to fundamentals
Uranium contracting returning to fundamentals Spot and term market volumes1 Spot and term pricing, last 5 years2 275 Spot market volumes $120 Spot Mid Point (UxC and TT) Term contract volumes Term Mid Point (UxC and TT) 250 225 $100 200 175 $80 Mlb U3O8 150 125 100 $60 75 50 $40 25 - $20 2005 2006 2
Slide 8: Langer Heinrich Mine (LHM) Namibia
Langer Heinrich Mine (LHM) Namibia
Slide 9: LHM highlights
LHM highlights Ramping up to full mining and processing plant operations FY2025 1 3.0Mlb US$65.7/lb US$40.2/lb U3O8 production U3O8 average realised price3 U3O8 cost of production4 1H 2.3Mlb US$70.5/lb US$40.5/lb FY2026 2 U3O8 production U3O8 average realised price3 U3O8 cost of production4 1. Refer
Slide 10: Ramping up to full mining and processing plant operations
Ramping up to full mining and processing plant operations Target overall recovery rate 91% 85% to 90% 88% 88% 87% 86% 1,427 69% 1,233 1,210 1,170 1,150 1,066 994 902 872 830 750 745 710 640 623 638 534 500 Q1FY2025 Q2FY2025 Q3FY2025 Q4FY2025 Q1FY2026 Q2FY2026 Tonnes processed (kt) Production (klb) U
Slide 11: Industry-leading contract book
Industry-leading contract book Contract pricing mix (2025-30) 2 1.96Mlb U3O8 sold in H1 FY2026 53% Market-related prices US$70.5/lb average realised price1 in H1 FY2026 23Mlb 47% Base-escalated & fixed prices 23 Mlb of U3O8 contracted to 20302 Contract pricing mix (Ore Reserve) 3 of the LHM Ore Rese
Slide 12: Patterson Lake South (PLS) Project Canada
Patterson Lake South (PLS) Project Canada
Slide 13: PLS Project highlights
PLS Project highlights Shallow, high-grade ~9Mlb p.a. U3O8 Significant growth Triple R deposit potential 93.7Mlb U3O8 of Probable Mineral Reserve average annual production target over a 10-year potential for mine life extension through at 1.41%1, hosted in basement rock, mine life supported by a 1,0
Slide 14: Canada's Athabasca Basin region
Canada’s Athabasca Basin region The world’s premier high-grade uranium PALADIN CANADA PROPERTIES DEPOSITS mining jurisdiction DEVELOPMENT PROJECTS SHOWINGS CURRENT OPERATIONS MILL PAST PRODUCERS • Jurisdiction: stable, supportive government and Uranium City communities with access to a skilled workf
Slide 15: Engineering Review confirms unchanged physicals with updated capital and operating costs
Engineering Review confirms unchanged physicals with updated capital and operating costs1 Comprehensive review confirms robustness of KEY ECONOMIC OUTCOMES the PLS Project and de-risks its development and Initial Mine Life4 Years 10 operation Construction Period4 Years 3 Grade4 % U3O8 1.41 • As part
Slide 16: Strong economics at the PLS Project
Strong economics at the PLS Project Economics reflect the PLS Project’s position as a world-class uranium project which is highly cash flow generative in a range of price environments1 Uranium Price4 NPV8 (Post-Tax)2,3 NPV8 (Post-Tax)2,3 IRR (Post-Tax)2,3 Avg. FCF p.a.33,5 Avg. FCF p.a.3,5 US$3,023M
Slide 17: PLS Project is one of the leading undeveloped uranium projects globally
PLS Project is one of the leading undeveloped uranium projects globally Advanced development stage uranium projects’ grade and C1 cash cost benchmarking1 Bubble size = contained U3O8 mineral resource Athabasca Basin projects 10.00% PLS Project Mineral Resource grade (%, log scale) Gryphon Phoenix Ro
Slide 18: Unlocking growth at the PLS Project through exploration
Unlocking growth at the PLS Project through exploration Paladin has identified a clear strategy to extend the PLS Project beyond its existing 10-year mine life1 with focus on expanded drilling operations to unlock significant growth potential through strategic priorities Extending Triple R mineralis
Slide 19: Delivering progress towards PLS Project development
Delivering progress towards PLS Project development Significant milestones achieved since Paladin has a clear pathway focused on Fission acquisition unlocking PLS Project value Exemption granted by the Canadian Government from the • Continue to advance the Canadian Nuclear Safety Non-Resident Owne
Slide 20: Delivering Sustainable Value
Delivering Sustainable Value
Slide 21: Delivering sustainable value
Delivering sustainable value Maximise value Advance the PLS Deliver organic Drive from Langer Project towards growth via sustainable Heinrich Mine development exploration value for shareholders 21
Slide 22: Clean Energy. Clear Future.
Clean Energy. Clear Future.
Slide 23: Appendices
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Slide 24: Non-IFRS measures
Non-IFRS measures Paladin uses certain financial measures that are considered “non-IFRS financial information” within the meaning of Australian securities laws and/or “non-GAAP financial measures” within the meaning of Canadian securities laws (collectively referred to in this announcement as Non-IF
Slide 25: LHM | Mineral Resources and Ore Reserves
LHM | Mineral Resources and Ore Reserves Summary Mineral Resources1 As at 30 June 2025 Millions of Tonnes Grade U3O8 Contained U3O8 Grade V2O5 Contained V2O5 Classification Location (Mt) (ppm) (Mlb) (ppm) (Mlb) Measured In-situ 76.9 450 76.3 145 24.7 MG ROM stockpiles 2.6 460 2.6 155 0.9 LG ROM stoc
Slide 26: PLS Project | Mineral Resources and Reserves
PLS Project | Mineral Resources and Reserves Summary Mineral Resources1 Notes: Millions of Tonnes Grade U3O8 Grade Au Contained U3O8 Contained Au Classification 1. CIM Definition Standards were followed for the classification of mineral (Mt) (%) (g/t Au) (Mlb) (koz) resources. 2. The mineral resourc
Slide 27: Peer comparison – Mineral Resources and Ore Reserves, grade and C1 cash costs
Peer comparison – Mineral Resources and Ore Reserves, grade and C1 cash costs C1 Cash Reporting Asset Company Location Ownership Ore Reserves Mineral Resources Source 1 Date Source 2 Date Study Type Cost Framework Proven Probable Grade Total Attributable Measured Indicated Inferred Grade Total Attri
Slide 28: Investor Relations Media
INVESTOR RELATIONS MEDIA Paula Raffo Anthony Hasluck T: +61 8 9423 8100 T: +61 438 522 194 E: paula.raffo@paladinenergy.com.au E: anthony.hasluck@paladinenergy.com.au