• Production of 1.23Mlb U3O8, up 16% on previous quarter
• Full year production expected to trend towards upper end of 4.0 to 4.4Mlb U3O8 guidance
• Robust sales volumes of 1.43Mlb U3O8 at average realised price of US$71.8/lb

Paladin Energy Ltd reported a strong operational performance at the Langer Heinrich Mine (LHM) in Namibia during the December 2025 quarter. Production increased by 16% to 1.23Mlb U3O8, driven by a higher proportion of mined ore being fed to the plant. Given the robust production in the first half of FY2026 and the continued ramp-up of LHM to full mining and processing operations by the end of the financial year, the company expects full year production to trend towards the upper end of the guidance range of 4.0 to 4.4Mlb U3O8. Sales volumes were also strong at 1.43Mlb U3O8, achieved at an average realised price of US$71.8/lb. The cost of production benefited from the higher production volumes, coming in at US$39.7/lb. Paladin also made progress on the development and permitting of the Patterson Lake South (PLS) project in Canada, with mobilisation completed for the winter drilling program. The company's balance sheet was further strengthened through the completion of a Share Purchase Plan and the restructuring of its syndicated debt facility, providing additional flexibility to support the continued ramp-up at LHM and progress the PLS project.

Paladin expects the full year production at Langer Heinrich Mine to trend towards the upper end of the guidance range of 4.0 to 4.4Mlb U3O8.

Paladin is focused on improving production volumes and ensuring capability to deliver a multi-decade production pipeline for the market and to drive value for its shareholders.