Paladin Energy : Cleansing Notice

PALADIN ENERGY LTD

ACN 061 681 098

19 September 2019

NOTICE UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT 2001

This notice is given by Paladin Energy Limited (ACN 061 681 098) ("Paladin" or "Company") (ASX:PDN) under section 708A(5)(e) of the Corporations Act.

Paladin refers to its announcement on 13 September 2019 regarding the successful completion of a share placement to raise $30.2 million (before costs). Paladin has today issued 224,812,641 fully paid ordinary shares at an issue price of A$0.115 per share in respect of that share placement, with the remaining 38,0000,000 shares expected to be settled on Wednesday 25 September with those shares to be issued on 26 September 2019.

The Company advises that:

1. the above-mentioned shares were issued without disclosure to investors under Part 6D.2 of the Act;
2. this notice is being given under section 708A(5)(e) of the Act;
3. as at the date of this notice, the Company has complied with:
4. 1. the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and
   2. section 674 of the Corporations Act; and
5. as at the date of this notice, there is no information that is 'excluded information' within the meanings of section 708A(7) and 708A(8) of the Corporations Act.

Yours faithfully,

Andrea Betti

Company Secretary

3461-0681-4989v1Level 4, 502 Hay Street, Subiaco, Western Australia 6008 Postal: PO Box 201, Subiaco, Western Australia 6904 Tel: [phone] Fax: [phone] Email: [e-mail] Website: www.paladinenergy.com.au