LHM Guidance Revision - Increase FY2026 Production Range

About this update from Paladin Energy Ltd

PERTH, Australia, April 16, 2026 (GLOBE NEWSWIRE) -- Paladin Energy Ltd (ASX:PDN, TSX:PDN, OTCQX:PALAF) (“Paladin” or the “Company”) provides an operations and guidance update for the Langer Heinrich Mine (LHM) in advance of its March 2026 Quarterly Report, which is scheduled for release on 22 April 2026. The LHM ramp-up and transition to full mining operations has progressed well during the first nine months of FY2026. The combination of successful mobilisation of the mining fleet, improved feed grade and high recovery rates from the processing plant have resulted in year-to-date FY2026 production of 3.6Mlb U3O8. As a result of the strong performance in the first nine months of FY2026, Paladin has revised its FY2026 guidance as follows: LHM recorded 3.0Mlb U3O8 in sales in the first nine months of FY2026. Full year sales guidance remains unchanged. Cost of production is expected to materially align with previous guidance pending the duration of the current conflict in the Middle East and any further associated impacts on forecast cost. The capital and exploration expenditure guidance range has been reduced to US$15M to US$17M (previously US$26M – US$32M) due to reprioritisation and deferral of capital and exploration expenditure. The revised guidance is based on current operating conditions and assumptions and may be impacted by disruptions arising from current geopolitical events. Paladin is closely monitoring the potential impact of these events. Paladin continues to expect LHM to transition to full mining and processing plant operations by the end of FY2026. The following results were achieved in the first nine months of FY2026: The Company will hold a conference call on Wednesday, 22 April 2026, at 11.00am AEST7 (Tuesday, 21 April 2026, at 9.00pm EDT8), following the release of its March 2026 Quarterly Report. To participate in the live teleconference, please register at the link below: https://s1.c-conf.com/diamondpass/10054216-fmpl36.html This announcement has been authorised for release by the Board of Directors of Paladin Energy Ltd. Contacts Forward-looking statements This document contains certain “forward-looking statements” within the meaning of Australian securities laws and “forward-looking information” within the meaning of Canadian securities laws (collectively referred to in this document as forward-looking statements). All statements in...

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