Mr. Cliff Lawrenson reports

MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER APPOINTMENT

The board of Paladin Energy Ltd. has appointed Paul Hemburrow as managing director and chief executive officer of the company, effective from Sept. 1, 2025.

Mr. Hemburrow is the chief operating officer of Paladin, having held that role since 2023.

As a result of the appointment, Mr. Hemburrow will join the board of the company, which will be expanded in the future with a Canadian resident director.

Mr. Hemburrow's appointment results from a planned and rigorous succession process involving global executive search specialists. Current chief executive officer Ian Purdy has provided support for the process, and will remain available to assist the board and executive team until the end of his notice period in mid-December.

Paladin chair Cliff Lawrenson said: "The board is pleased to appoint Paul as the standout executive in our sector, who has the leadership attributes, technical skills and uranium knowledge to capitalize on the opportunities that Paladin has within its global asset portfolio. We are very confident in Paul's ability to create value for shareholders in the years ahead, and this decision vindicates the leadership succession process the company has in place.

"On behalf of the board, I thank Ian for his many achievements leading Paladin since 2020 and the considerable effort he has devoted to the company. During Ian's tenure, Paladin has transformed into a leading uranium producer with assets in the world's premier uranium jurisdictions. Ian has built a skilled global management team and strong culture that will drive our sustainable long-term growth. We wish him all the best for the future."

Mr. Hemburrow is a highly experienced resources executive with 30 years operational and management experience in a range of senior executive roles within the sector, including several commodities and the leadership of mining, processing, port and rail businesses in complex operating environments and multiple jurisdictions.

Global executive search specialists are currently undertaking an international search for a new COO to replace Mr. Hemburrow. An interim COO process has been established within Paladin in the event that a COO transition period is required.

Mr. Hemburrow said: "I am delighted to be stepping into the MD and CEO role after a short handover period with Ian, whom I have worked with closely for several years. Paladin has a great future as one of the world's most significant, independent uranium producers, and my goal is to guide our experienced team in unlocking shareholder value from our production and development assets."

Mr. Purdy said: "I am proud to be transitioning the leadership of Paladin at a time when the company has been transformed into a global producer delivering much needed uranium into international markets. Paul and I have enjoyed a close and productive working relationship, and I am very confident that Paul has the right background and skills to lead Paladin through its next phase of growth. I would like to thank the board, Paladin team and everyone who has contributed to the company's many achievements during my tenure."