Paladin closes $300-million (Australian) equity raise

Executive Summary

• Paladin Energy Ltd. completed a $300 million (AUD) equity raising consisting of an ASX institutional placement, a TSX bought‑deal private placement, and a treasury share sale.
• The proceeds will be used primarily to advance the Patterson Lake South (PLS) uranium project toward a final investment decision and to support the ramp‑up of the Langer Heinrich Mine (LHM).
• A non‑underwritten Share Purchase Plan (SPP) is also being offered to eligible Australian/New Zealand shareholders, targeting up to an additional $20 million (AUD).

Key Details

• ASX Institutional Placement – ~31.9 million new shares at AUD 7.25 per share → ≈ AUD 231 million (pre‑costs). Settlement 22 Sep 2025; allotment 23 Sep 2025.
• TSX Bought‑Deal Private Placement – ~4.5 million new shares at CAD 6.66 per share → CAD 30 million (≈ AUD 33 million pre‑costs). Settlement 22 Sep 2025; allotment 23 Sep 2025.
• Treasury Share Sale – ~5.0 million existing shares at AUD 7.25 per share → ≈ AUD 36 million (pre‑costs). Settlement 22 Sep 2025.
• Total Gross Proceeds: Approximately AUD 300 million before costs.
• Share Purchase Plan (SPP) – Non‑underwritten, price AUD 7.25 per share, up to AUD 20 million (pre‑costs); eligible shareholders may apply for up to AUD 30,000 worth of shares without brokerage or transaction fees. Offer booklet expected around 25 Sep 2025.
• Use of Proceeds: Primarily to fund development of the Patterson Lake South project toward a Final Investment Decision; also to provide balance‑sheet flexibility for continued ramp‑up of Langer Heinrich Mine, slated for full operations in FY 2027.
• Investor Demand: Strong interest from new and existing institutional investors domestically and internationally.
• Management Comment: CEO Paul Hemburrow highlighted the capital raise’s role in delivering balance‑sheet flexibility to advance PLS and complete LHM ramp‑up.

Notable Quotes

“We are delighted with the support we have received for the equity raising from high‑quality existing and new institutional investors located in Australia, Canada and internationally… The funds secured will provide us with the balance sheet flexibility to advance the PLS project towards a FID while simultaneously completing the ramp‑up of operations at the LHM.” – Paul Hemburrow, Managing Director & CEO

Materiality Assessment: Material – Positive (significant financing that materially impacts future project development and company balance sheet).