Paladin Energy : Successful Completion of A$200 Million Placement

PALADIN ENERGY LTD

ACN 061 681 098

Paladin Energy Limited ('Paladin')

Registration No. ACN 061 681 098 Registered as an external company in Namibia ISIN Code: AU000000PDN8

NSX Share Code: PDN

Paladin completes A$200 Million Placement

Paladin Energy Ltd (Paladin or Company) is pleased to announce that it has completed an institutional placement (Placement) of new fully paid ordinary shares in Paladin (New Shares). The Placement will raise approximately A$200 million (before costs) through the issue of approximately 278 million New Shares at an offer price of A$0.72 per share. The offer price represents:

• • 8.9% discount to the last closing price of Paladin shares on ASX of $0.79 on March 30, 2022 (being the last date Paladin shares traded prior to announcement of the Placement); and

• • 12% discount to the 5-day volume average weighted price (VWAP) up to and including March 30, 2022.

Proceeds of the Placement, in conjunction with the proposed Share Purchase Plan which seeks to raise up to an additional A$15 million (together the Equity Raise), will be applied to fund the restart of uranium mining operations at the Langer Heinrich Mine, and for working capital expenses and fees.

This announcement has been authorised for release by the Board of Directors of Paladin Energy Ltd.

The full announcement can be found on the company website athttps://wcsecure.weblink.com.au/clients/paladinenergy/headline.aspx?headlineid=61084636

By order of the Board of Directors

Ian Purdy

Chief Executive Officer

1 April 2022

Registered Office Erf 3981B

Extension 10

New Industrial Area Swakopmund Namibia

Sponsor

IJG Securities (Pty) Ltd Member of the NSX

4th Floor, 1@Steps, C/O Grove and Chasie Street, Klein Kuppe P O Box 186, Windhoek, Namibia

Registration No. 95/505