Paladin Energy (PDN) Investor update summary

Acquisition and regulatory progress

• Clearance received under the Investment Canada Act for the acquisition of Fission Uranium Corp, marking the last major hurdle before closing and TSX listing, expected in several weeks.

• Court ratification and shareholder approval have been achieved, with only administrative steps remaining.

• Canadian government conducted a thorough review, and undertakings were agreed with relevant ministers to support the acquisition.

CGN Mining relationship and offtake agreements

• CGN's influence over Fission will be significantly reduced post-acquisition, with equity diluted to about 2% and governance rights removed.

• CGN's life of mine offtake agreement will be shortened to three years, after which new contract opportunities will be pursued.

• Strong demand is anticipated for uranium from Langer Heinrich Mine and future PLS production across multiple regions.

Project development and permitting

• The next major milestone for the PLS project is obtaining provincial environmental approval in Saskatchewan.

• Subsequent permits from the Canadian Nuclear Safety Commission will be required for construction and operations over the coming years.

• The permitting process is separate from other projects like NextGen, focusing on provincial rather than federal approvals.