Permitting Update

BERKELEY ENERGIA LIMITED

NEWS RELEASE | 23 July 2021

Permitting Update

Berkeley Energia Limited ("Berkeley" or the "Company") advises that it has taken the first steps to overturn the previously announced unfavorable decision by the Nuclear Safety Council ("NSC") for the grant of the Authorisation for Construction for the uranium concentrate plant as a radioactive facility ("NSC II") at the Company's Salamanca project (see announcement dated 12 July 2021).

Berkeley has now submitted an 'Improvement Report' to supplement the Company's initial NSC II Application, along with the corresponding arguments that address all of the issues raised by the NSC, and has requested its reassessment by the NSC. The Improvement Report includes technical arguments that, in the Company's view, will clearly demonstrate that the project is compliant with all requirements for NSC II.

This Improvement Report and associated documentation has been submitted to the Ministry of Ecological Transition and Demographic Challenge ("MITECO") following its notification to the Company advising that, in accordance with Spanish administrative law, a hearing process in relation to the NSC's decision has been opened and provides Berkeley with the opportunity to submit relevant documentation to MITECO by 4 August 2021.

As previously reported, Berkeley strongly refutes the NSC's assessment and notes that all documentation submitted by the Company in relation to NCS II has been prepared following advice from independent, nationally and internationally recognised advisors and consultants who are experts in their field.

It should also be noted that more than 120 previous permits and favourable reports have been granted by the relevant authorities at the local, regional, federal and European Union levels in relation to the Salamanca project, among which nine have been from the NSC.

The Company will continue to strongly defend its position in relation to the adverse decision by the NSC and will continue to update the market on any material developments as they occur.

For further information please contact:

Robert Behets Francisco Bellón

Acting Managing Director Chief Operations Officer

+61 8 9322 6322 +34 91 555 1380

info@berkeleyenergia.com