NBSX: PDN - Paladin Announces A$525 Million Fully Underwritten Equity Raising to Accelerate Paladin’s Growth Strategy
===================== Paladin Announces A$525 Million Fully Underwritten Equity Raising to Accelerate Paladin’s Growth Strategy
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 ANNOUNCES A$525 MILLION FULLY UNDERWRITTEN EQUITY RAISING TO ACCELERATE PALADIN’S GROWTH STRATEGY
Paladin Energy Ltd (ASX:PDN, TSX:PDN) (Paladin or the Company) announces it has launched
a fully underwritten equity raising, comprising (i) an A$474 million ASX institutional placement of
new Paladin fully paid ordinary shares (Shares) (ASX Placement), and (ii) a Canadian “bought
deal” private placement to raise C$50 million (~A$51 million) pursuant to the Listed Issuer
Financing Exemption (as defined herein) (TSX Bought Deal), to raise a total amount of A$525
million (together, the Offer).1
Additionally, Paladin intends to invite Eligible Shareholders (as defined herein) to participate in a
non-underwritten Share Purchase Plan to acquire Shares at the same price as the ASX Placement
to raise up to a further A$50 million (before costs) (SPP).
The equity raising positions Paladin for its next phase of growth, funding the ongoing development
of the Patterson Lake South Project (PLS Project), potential resource growth and mine life
extension at Triple R, and advancing exploration opportunities across the broader Athabasca
Basin region portfolio.
Highlights
• A fully underwritten equity raising to raise A$525 million (before costs), comprising:
o A fully underwritten ASX Placement to raise A$474 million (before costs); and
o A fully underwritten TSX Bought Deal to raise ~A$51 million (C$50 million) (before
costs)
• Opportunity for Eligible Shareholders with registered addresses in Australia and New
Zealand to participate via a non-underwritten SPP to raise up to a further A$50 million
(before costs)
• All Shares under the ASX Placement and SPP will be issued at a fixed price of A$7.80 per
new Share (Offer Price)
• Shares issued under the TSX Bought Deal will be issued at a fixed price of C$7.62 per new
Share, being the approximate C$ equivalent of the Offer Price based on current exchange
rates1
• The Offer Price of A$7.80 per Share represents a 10.3% discount to the last close of A$8.70
on the ASX on 11 November 2026
• Equity raising net proceeds will be used to fund:
o the PLS Project’s planning and execution of the CY2027 and CY2028 capital works
program and early mobilisation, procurement and site readiness activities, helping
protect the critical path and maintain momentum ahead of the principal construction
program;2
o potential Triple R mine life extension and resource growth;
o acceleration of Athabasca Basin region exploration and growth including follow-
up drilling at Atlas and Saloon East and testing of high-priority regional targets
across Paladin’s broader Athabasca Basin region tenure package; and
o balance sheet flexibility by establishing a clear platform through the repayment of
existing debt to support the advancement of a funding solution for the PLS Project.
The full announcement can be viewed at the following link: https://www.paladinenergy.com/wp-content/uploads/2026/11/61354750.pdf
By order of the Board of Directors Andrew Bickley Manager, Company Secretariat
12 November 2026
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 Date: 12/11/2026 12:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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