Paladin Energy Ltd · ASX:PDN
Paladin Energy — FY2025 Earnings Presentation
30 slides from Paladin Energy's earnings presentation, Aug 28, 2025
Slide 1: FY2025 Results Presentation
FY2025 Results Presentation 28 August 2025
Slide 2: Important Notice
Not an Offer Readers should not place undue reliance on forward-looking statements, and The scientific and technical information relating to PLS in this Presentation is should rely on their own independent enquiries, investigations and advice based on the technical report titled “Feasibility Study,
Slide 3: Paladin Overview
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Slide 4: 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 market Final phase of the Exceptional growth outlook driven by nuclear Langer Heinrich Mine opportunity at the energy demand ramp-up underway Patterson Lake South Proje
Slide 5: 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 Lake South Manyingee & Mount Juliet 11,148 ha Mine
Slide 6: FY2025 Highlights
FY2025 Highlights Annual Sales Year end production revenue cash balance 3.0Mlb U3O8 US$177.7M US$89M Ramp-up of Completion of Two Mutual operations and the acquisition of Benefits commencement of Fission Uranium Agreements signed mining at the Langer Corp. and Paladin with Canadian Heinrich Mine lis
Slide 7: FY2025 Sustainability Highlights
FY2025 Sustainability Highlights TRIFR 98% 84% 2.7 of the LHM of total procurement per million employees are local costs spent with hours local businesses No serious Adoption of key environmental Sustainability 43% incidents or reporting Female breaches of frameworks (including representation enviro
Slide 8: FY2025 Financial Results
FY2025 Financial Results Refer to Paladin’s exchange announcement titled “2025 Annual Report” dated 28 August 2025
Slide 9: Financial Summary
Financial Summary Key financial performance metric8 Year ended 30 June US$177.7M in sales revenue 2025 2024 underpinning LHM’s ramp-up year Earnings Revenue US$'000 177,676 - Cost of sales US$'000 (191,690) - • Revenue of US$177.7M during the financial year 2025, Gross loss US$'000 (26,086) - repres
Slide 10: Cash flow from operations
Cash flow from operations For the twelve-month period ended 30 June 2025 US$ million • Cash and cash equivalents of US$89.0M (excluding restricted cash of US$4.6M) as at 30 June 167 2025 • Ramp-up of the LHM operations during the period, completion of tailings storage facility 6, commencement of min
Slide 11: Income Statement reflects LHM ramp-up
Income Statement reflects LHM ramp-up For the full year ended 30 June 2025 US$ million 200 178 150 Non-Cash Cost of Sales = (US$53.4M) • Impairment reversal adjustment = (US$45.5M) 100 • Depreciation & Amortisation = (US$18.1M) • Changes in inventories = US$10.2M 50 -138 - -53 5 Gross margin from LH
Slide 12: Langer Heinrich Mine FY2025 Operational Results
Langer Heinrich Mine FY2025 Operational Results
Slide 13: LHM Highlights
LHM Highlights 3.0Mlb U3O8 US$65.7/lb U3O8 US$40.2/lb U3O8 produced in ramp-up year FY2025 with average realised price in FY20253 average cost of production in FY20253 2.7Mlb U3O8 sold to our global customers3 Mining commenced Plant optimised Long-life operation in April 2025 with full mining fleet
Slide 14: LHM quarter on quarter operational improvements during FY2025
LHM quarter on quarter operational improvements during FY2025 Highest quarterly crusher circuit FY2025 Tonnes Processed, Production and Sales3 throughput in the history of the LHM operations achieved in the 1,400 95% 88% 88% June 2025 quarter3 Target overall recovery rate 87% 90% 1,200 1,170 85% 80%
Slide 15: LHM building on the mining capability
LHM building on the mining capability Full mining capacity planned for FY20272 • ~50% of the planned mining fleet capacity in operations as at 30 June 20252 • Remaining mining fleet scheduled for delivery in late CY2025 and expected to be commissioned and in service during the second half of FY2026
Slide 16: 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) 10 2.7Mlb FY2025 57% Market-related prices US$65.7/lb FY2025 average realised price 24.1Mlb uranium sales agreements with 43% 13 tier-one global customers in the US, Europe and Asia Base-
Slide 17: Patterson Lake South Project
Patterson Lake South Project
Slide 18: Fission Uranium Corp. acquisition completed, delivering the PLS Project
Fission Uranium Corp. acquisition successfully completed in December 2024 delivering the world-class PLS Project Shallow, high-grade ~9Mlb p.a. U3O8 Significant growth Triple R deposit potential 93.7Mlb U3O8 of Probable Mineral Reserve annual production target over a 10-year mine potential for mine
Slide 19: PLS Project Progress
PLS Project Progress 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 interest in the project throughout it
Slide 20: Uranium Market Outlook
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Slide 21: 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 22: Disconnect between uranium requirements and supply
Disconnect between uranium requirements and supply • Largest uranium consuming countries (US, China and France) have minimal domestic North Russia supplies16 America 35 39 • European utilities currently Europe source ~50%18 of their requirements from Kazakhstan, Russia and Niger. They are 89 increas
Slide 23: Delivering Sustainable Value
Delivering Sustainable Value
Slide 24: Delivering sustainable value
Delivering sustainable value Maximise Unlocking the Deliver organic Drive production from value of the growth via sustainable the LHM PLS Project exploration value for shareholders 24 24
Slide 25: Clean Energy. Clear Future.
Clean Energy. Clear Future. 25
Slide 26: Appendices
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Slide 27: Notes
Notes 1. Paladin has a 75% interest in the LHM 2. Refer to Paladin’s exchange announcement titled “Langer Heinrich Mine FY2026 Guidance” dated 23 July 2025. 3. Refer to Paladin’s exchange announcement titled “Quarterly Activities Report – June 2025” dated 23 July 2025. 4. Refer to Paladin’s exchange
Slide 28: Mineral Resources and Ore Reserves Langer Heinrich Mine
Mineral Resources and Ore Reserves Langer Heinrich Mine 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 25.5 MG ROM stockpiles 2.6 485 2.8 165
Slide 29: 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 30: Paladin Investor Relations
PALADIN INVESTOR RELATIONS Head Office Canada Paula Raffo Bob Hemmerling T: +61 8 9423 8100 T: +1 250-868-8140 E: paula.raffo@paladinenergy.com.au E: bob.hemmerling@paladinenergy.ca MEDIA Head Office Canada Anthony Hasluck Ian Hamilton Paladin Corporate Affairs FGS Longview T: +61 438 522 194 T: +1