Paladin Successfully Completes A$300 Million Equity Raising

by ahnationtalk on September 16, 2025164 Views

PERTH, Australia, Sept. 16, 2025 — Paladin Energy Ltd (ASX:PDN, TSX:PDN, OTCQX:PALAF) (Paladin or the Company) announces the successful completion of its fully underwritten equity raising, comprising (i) an ~A$231 million ASX institutional placement of new Paladin fully paid ordinary shares (Shares) (ASX Placement), (ii) a Canadian “bought deal” private placement to raise C$30 million (~A$33 million) pursuant to the Listed Issuer Financing Exemption (as defined herein) (TSX Bought Deal), and (iii) a fully underwritten sale of ~A$36 million of existing Shares issued and subsequently acquired as a result of the acquisition of Fission Uranium Corp. (Fission) (Treasury Share Sale), to raise a total amount of A$300 million (together, the Offer).¹

As announced on 16 September 2025, the Company also intends to undertake a non-underwritten Share Purchase Plan at the same price as the ASX Placement and Treasury Share Sale to raise up to a further A$20 million (before costs) (SPP).

Highlights

Successful bookbuild for a fully underwritten equity raising to raise A$300 million (before costs), comprising:
- ASX Placement of approximately 31.9 million new Shares priced at A$7.25 per Share to raise ~A$231 million (before costs)
- TSX Bought Deal of approximately 4.5 million new Shares priced at C$6.66 per Share to raise C$30 million (~A$33 million) (before costs)¹
- Treasury Share Sale of approximately 5.0 million Shares priced at A$7.25 per Share to raise ~A$36 million (before costs)
Strong demand received from new and existing investors, both domestically and internationally
Opportunity for Eligible Shareholders (as defined herein) with registered addresses in Australia and New Zealand to participate via a non-underwritten SPP to raise up to a further A$20 million
Proceeds from the equity raising will primarily be used to advance the development of the Patterson Lake South Project (PLS Project) towards a final investment decision (FID)
The equity raising positions Paladin with the balance sheet flexibility to progress the PLS Project alongside the ongoing ramp up of the Langer Heinrich Mine (LHM), which is on track to be completed by the end of FY2026 with full mining and processing plant operations planned for FY2027

Paul Hemburrow, Paladin Managing Director and Chief Executive Officer, commented:

“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 and I would like to thank them for their support. 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.”

Details of the ASX Placement

Settlement of the ASX Placement is expected to occur on 22 September 2025 with new Shares to be allotted on 23 September 2025.

New Shares issued under the ASX Placement will rank equally with existing fully paid ordinary Shares of the Company and will be issued within the Company’s capacity under Listing Rule 7.1.

Details of the TSX Bought Deal

Settlement of the TSX Bought Deal is expected to occur on 22 September 2025 with new Shares to be allotted on 23 September 2025. New Shares issued under the TSX Bought Deal will rank equally with existing fully paid ordinary Shares of the Company and will be issued within the Company’s capacity under Listing Rule 7.1.

Details of the Treasury Share Sale

Settlement of the Treasury Share Sale is expected to occur on 22 September 2025. Shares sold under the Treasury Share Sale will rank equally with existing fully paid ordinary Shares of the Company.

Details of the Share Purchase Plan (SPP)

Paladin shareholders, with a registered address in Australia or New Zealand, who are outside the United States and who are otherwise eligible to participate in the SPP under the terms of the SPP offer, that held Paladin Shares as at 7.00pm (Sydney time) on 15 September 2025 (Eligible Shareholders) will be eligible to participate in the SPP. Eligible Shareholders will have the opportunity to apply for up to A$30,000 worth of new Shares without incurring any brokerage or transaction costs. The SPP will be conducted at the Offer Price of A$7.25. The SPP is targeted to raise up to A$20 million (before costs) and is not underwritten.

Paladin reserves the right (in its absolute discretion) to scale back applications under the SPP if demand exceeds A$20 million, raise a higher amount or close the SPP at an earlier date. New Shares issued under the SPP will rank equally with existing fully paid ordinary Shares in Paladin from the date of issue. The SPP offer booklet, containing further details on the SPP, is expected to be released on the ASX and made available to Eligible Shareholders on or around 25 September 2025. The SPP is subject to the terms and conditions set out in the SPP offer booklet.

Indicative Equity Raising Timetable

An indicative timetable of the key dates in relation to the equity raising is detailed below.

Event	Time (AEST) / Date
ASX Placement, TSX Bought Deal and Treasury Share sale
Announcement of completion of ASX Placement, Treasury Share Sale and TSX Bought Deal	16 September 2025
ASX trading halt lifted and announcement of completion of ASX Placement, Treasury Share Sale and TSX Bought Deal	17 September 2025
Settlement of new Shares under ASX Placement, TSX Bought Deal and Treasury Share Sale	22 September 2025
Allotment of new Shares under ASX Placement and TSX Bought Deal	23 September 2025
Share Purchase Plan
Record date for eligibility to participate in SPP	7.00pm, 15 September 2025
Despatch SPP offer documents and SPP offer opens	25 September 2025
SPP closing date	9 October 2025
Announcement of SPP participation and results, and allotment of new Shares	16 October 2025

The above timetable is indicative only and subject to variation. The Company reserves the right to alter the timetable at its discretion and without notice, subject to the ASX Listing Rules, the Corporations Act, the requirements of the Toronto Stock Exchange (TSX) and other applicable laws. All times reference to Sydney, Australia time unless denoted otherwise.

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

For further information contact:

Investor Relations Head Office Paula RaffoPaladin Investor Relations T: +61 8 9423 8100 E: paula.raffo@paladinenergy.com.au	Canada Bob Hemmerling Paladin Investor Relations T: +1 250-868-8140 E: Bob.Hemmerling@paladinenergy.ca
Media Head Office Anthony Hasluck Paladin Corporate Affairs T: +61 438 522 194 E: anthony.hasluck@paladinenergy.com.au	Canada Ian Hamilton, Partner FGS Longview T: +1 905-399-6591 E: ian.hamilton@fgslongview.com