Paladin Energy Ltd.: Adjustment of Conversion Price of Convertible Bonds

PERTH, WESTERN AUSTRALIA--(Marketwired - Dec. 17, 2014) - Paladin Energy Ltd (TSX:PDN)(ASX:PDN) ("Paladin" or the "Company") today announced an adjustment of the Conversion Price in connection to the US$300 M convertible bonds due November 4, 2015 and the US$274 M convertible bonds due April 30, 2017 (together the "Bonds.")

Pursuant to the terms of the Bonds, the prevailing Conversion Price is subject to adjustment where any new issue of shares is at less than 95% of the Current Market Price. Following the completion of the Entitlement Offer on December 17, 2014, the Conversion Price has been adjusted as follows:

• Convertible bonds due 2015: US$4.6880 (previously US$5.403)
• Convertible bonds due 2017: US$1.8300 (previously US$2.109)

Further details of the Bonds, including definitions of terms, can be found in the Convertible Bond Disclosure Notice, released on November 4, 2010 and April 30, 2012 respectively.

ACN 061 681 098