• Production of 1.29Mlb U3O8, up 5% from previous quarter
• FY2026 production guidance increased to 4.5-4.8Mlb U3O8
• Approval received for Patterson Lake South Project development in Canada

Paladin Energy Ltd reported strong operational performance at its Langer Heinrich Mine (LHM) in Namibia during the third quarter of fiscal year 2026. Production increased by 5% to 1.29Mlb of U3O8, driven by strong processing plant performance. As a result of the strong year-to-date performance, the company has revised its FY2026 production guidance for LHM upwards to 4.5-4.8Mlb U3O8, from the previous range of 4.0-4.4Mlb. Sales volumes for the quarter were 1.03Mlb U3O8 at an average realised price of US$68.3/lb. The cost of production was US$40.3/lb, benefiting from the utilization of the remaining previously mined MG3 stockpile. Paladin also received Ministerial approval for the Environmental Impact Statement for the development of its Patterson Lake South (PLS) Project in Canada, a significant regulatory milestone. The company is now focused on progressing the next steps to obtain the construction license for this uranium development project. Exploration activities at PLS continued during the quarter, with a focus on further defining the highly prospective Saloon East trend. Paladin ended the quarter with a strong financial position, holding US$219.5 million in unrestricted cash and investments, and an undrawn US$70 million Revolving Credit Facility.

LHM FY2026 Guidance Update (100%): U3O8 Produced - 4.5 to 4.8Mlb, U3O8 Sold - No change, Cost of Production - No change (US$44-48/lb), Capital & Exploration Expenditure - US$15-17M.

Paladin continues to expect LHM to transition to full mining and processing plant operations by the end of FY2026. The company is closely monitoring potential impacts from events in the Middle East on its operations and supply chains.