DEEP YELLOW LIMITED — Capital/Financing Update 2016

Dec 13, 2016

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PALADIN ENERGY LTD ACN 061 681 098

Ref: 419465

14 December 2016

ASX Market Announcements By Electronic Lodgement Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000 Dear Sir/Madam

SALE OF DEEP YELLOW SHAREHOLDING

Paladin Energy Ltd ( Paladin or the Company ) (ASX:PDN / TSX:PDN) wishes to advise it has sold its entire shareholding in Deep Yellow Limited (ASX:DYL). The sale price of A$0.01 per share will translate to a receipt of approximately A$2.6M.

Yours faithfully Paladin Energy Ltd

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ALEXANDER MOLYNEUX CEO

Level 4, 502 Hay Street, Subiaco, Western Australia 6008 Postal: PO Box 201, Subiaco, Western Australia 6904 Tel: +61 (8) 9381 4366 Fax: +61 (8) 9381 4978 Email: paladin@paladinenergy.com.au Website: www.paladinenergy.com.au