PERTH, Australia, Aug. 25, 2026 (GLOBE NEWSWIRE) -- Paladin Energy Ltd (ASX:PDN, TSX:PDN, OTCQX:PALAF) ("Paladin", the "Company" or the "Group") advises that it has released the 2026 Annual Report to Shareholders & Appendix 4E, the Annual Information Form (AIF) for the year ended 30 June 2026 and the Management Discussion and Analysis (MD&A) for Paladin Energy Ltd and its controlled entities for the three and twelve month periods ended 30 June 2026 (FY2026 Financial Results).
Highlights
-- Langer Heinrich Mine (LHM)1 production of 4.82Mlb U O for FY2026 at the
upper-end of the guidance range
-- Sales revenue of US$304.3M, up 71% from previous year, driven by higher
sales of 4.35Mlb U O and Average Realised Price2 of US$70.0/lb U O
-- Cost of Production3 of US$43.3/lb for FY2026, at the lower end of the
guidance range
-- Cost of sales of US$250.0M, an increase of 30% over FY2025, reflecting
the higher sales volumes in the period
-- Gross profit of US$52.2M in FY2026, a significant increase from previous
year reflecting successful completion of the LHM ramp-up
-- Net loss after tax of US$9.1M in FY2026, a significant improvement from a
loss of US$76.5M in FY2025
-- Cash and investments of US$265M and an undrawn US$70M Revolving Credit
Facility at year end
Financial Summary
Key metrics(1) FY2026 FY2025 Change --------------------------------- ----------- ------ -------- -------- Average Realised Price(2) US$/lb 70.0 65.7 7% --------------------------------- ----------- ----- ------- ---- Cost of Production(3) US$/lb 43.3 40.2(4) 8% --------------------------------- ----------- ----- ------- ---- Sales revenue US$M 304.3 177.7 71% --------------------------------- ----------- ----- ------- ---- Cost of production US$M 208.9 129.1 62% --------------------------------- ----------- ----- ------- ---- Cost of sales US$M 250.0 191.7 30% --------------------------------- ----------- ----- ------- ---- Gross profit / (loss) US$M 52.2 (26.1) nm* --------------------------------- ----------- ----- ------- -------- Net (loss) after tax US$M (9.1) (76.5) nm* --------------------------------- ----------- ----- ------- -------- Cash flows from operating activities US$M 37.7 (3.8) nm* --------------------------------- ----------- ----- ------- -------- Total unrestricted cash and investments US$M 265.0 89.0 198% --------------------------------- ----------- ----- ------- ---- Debt Facility (drawn)(5) US$M (32.0) (86.5) nm* --------------------------------- ----------- ----- ------- -------- Net Cash/(Debt)(6) US$M 233.0 2.5 nm* --------------------------------- ----------- ----- ------- --------
* The percentage movement is not meaningful
Financial Review
FY2026 financial performance reflected the successful ramp-up of LHM with higher uranium production and sales volumes driving a significant increase in revenue. Sales revenue increased to US$304.3M (FY2025: US$177.7M), supported by sales of 4.35Mlb U(3) O(8) at an Average Realised Price of US$70.0/lb. Cost of sales increased to US$250.0M (FY2025: US$191.7M).
The improved operating performance resulted in a gross profit of US$52.2M, compared with a gross loss of US$26.1M in FY2025.
Net loss after tax improved to US$9.1M, compared with a loss of US$76.5M in FY2025. The improvement was driven by stronger earnings contribution from LHM, partially offset by an US$8.6M increase in general administration costs associated with the increased scale and complexity of the business, and a US$6.1M impairment of exploration assets, US$5.7M of which relates to the rationalisation of Michelin Project tenements.
Total unrestricted cash and investments increased to US$265.0M at year end (30 June 2025: US$89.0M) and comprised US$151.9M of cash and cash equivalents and US$113.0M of short-term investments.
The Company had an outstanding balance on the Term Loan Facility of US$32 million and an undrawn US$70 million Revolving Credit Facility at 30 June 2026.
FY2026 Financial Results Conference Call
The Company will hold a conference call on Wednesday, 26 August 2026, at 11.30am AEST(7) (Tuesday, 25 August 2026, at 9.30pm EDT(8) ). To participate in the live teleconference, please register at the link below:
Paladin FY2026 Financial Results Conference Call
Please note it is recommended to log on at least five minutes before the scheduled commencement time to ensure you are registered in time for the start of the call.
A recording of the call will be available on Paladin's website shortly after its conclusion.
Investor Day 2026
Paladin will host an Investor Day on Wednesday, 2 September 2026, at 2pm(4) in Sydney, Australia. To participate in the live webcast, please register at the link below:
Paladin Energy 2026 Investor Day.
Presentation of information
This announcement should be read in conjunction with the 2026 Annual Report to Shareholders & Appendix 4E, AIF and MD&A, each lodged on 26 August 2026 and available on Paladin's website.
This announcement has been authorised for release by the Board of Directors of Paladin Energy Ltd.
Contacts
Investor Relations Media Paula Raffo Anthony Hasluck T: +61 8 9423 8100 T: +61 438 522 194 E: paula.raffo@paladinenergy.com.au E: anthony.hasluck@paladinenergy.com.au
About Paladin
Paladin Energy Ltd (ASX:PDN TSX: PDN OTCQX:PALAF) is a globally significant independent uranium producer with a 75% ownership of the world-class long-life Langer Heinrich Mine in Namibia. In Canada, Paladin is progressing development of the Tier-1, high grade and shallow Patterson Lake South (PLS) Project in northern Saskatchewan and has an extensive portfolio of exploration assets within the province's highly prospective Athabasca Basin and also at the Michelin project in Newfoundland and Labrador. In Australia, Paladin owns uranium exploration assets in Queensland and Western Australia. Paladin is committed to a sustainability framework that ensures responsible, accountable and transparent management of uranium resources - now and in the future. The Langer Heinrich Mine is delivering reliable uranium supplies to major nuclear utilities around the world, positioning Paladin as a meaningful contributor to baseload energy provision in multiple countries and global decarbonisation, whilst unlocking the PLS Project to support future global nuclear energy expansion.
Notes
(1) Paladin has a 75% interest in the LHM
(2) Average Realised Price is a Non-IFRS Measure. See "Non-IFRS Measures" for more information
(3) Cost of Production is a Non-IFRS Measure. See "Non-IFRS Measures" for more information.
(4) FY2025 Cost of Production of $40.2US$/lb excludes US$7.8M relating to the sale of inventory previously written down.
(5) Excludes Shareholder Loans from CNOL and capitalised transaction costs
(6) Net Cash/(Debt) is a Non-IFRS Measure. See "Non-IFRS Measures" for more information.
(7) AEST: Australian Eastern Standard Time (Sydney time)
(8) EDT: Eastern Daylight Time (Toronto time)
Forward-looking statements
This document contains certain "forward-looking statements" within the meaning of Australian securities laws and "forward-looking information" within the meaning of Canadian securities laws (collectively referred to in this document as forward-looking statements). All statements in this document, other than statements of historical or present facts, are forward-looking statements and generally may be identified by the use of forward-looking words such as "anticipate", "expect", "likely", "propose", "will", "intend", "should", "could", "may", "believe", "forecast", "estimate", "target", "outlook", "guidance" and other similar expressions. These forward-looking statements include, but are not limited to, statements regarding LHM FY2027 guidance, continued development of the PLS Project; permitting approvals and community engagement; advancement of the PLS Project through to FID; development and the receipt of all necessary regulatory approvals.
Forward-looking statements involve subjective judgment and analysis and are subject to significant uncertainties, risks and contingencies including those risk factors associated with the mining industry, many of which are outside the control of, change without notice, and may be unknown to Paladin. These risks and uncertainties include but are not limited to liabilities inherent in mine development and production, geological, mining and processing technical problems, the inability to obtain any additional mine licences, permits and other regulatory approvals required in connection with mining and third party processing operations, competition for amongst other things, capital, acquisition of reserves, undeveloped lands and skilled personnel, incorrect assessments of the value of acquisitions, changes in commodity prices and exchange rates, currency and interest fluctuations, various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions, rising energy costs, inflationary pressures, the demand for and availability of transportation services, the ability to secure adequate financing and management's ability to anticipate and manage the foregoing factors and risks. Readers are also referred to the risks and uncertainties referred to in the Company's investor presentation released on 16