Berkeley Energia Ltd.

Berkeley Energia Ltd. is a junior uranium development company headquartered in Perth, Australia, operating primarily in Europe. The company's portfolio consists of 1 development project. Key assets include Salamanca. The organization's business model is centered on the development of a large-scale, clean energy asset. A 2016 definitive feasibility study indicated the potential for the project to be among the world's lowest-cost producers, capable of generating strong cash flows. However, the primary operational characteristic is currently defined by a significant legal and permitting dispute with a sovereign state. This impasse has led the company to initiate international arbitration proceedings to protect its investments. In parallel, the enterprise is actively pursuing diversification through an exploration initiative focused on battery and critical metals, including lithium, cobalt, tin, and tungsten. This exploration is conducted within the company's existing tenements and involves geological mapping, soil sampling, and drilling programs to define new anomalies and assess their economic potential. This dual focus on legal recourse for its main asset and exploration for strategic minerals represents a risk-mitigation and value-creation approach in a complex regulatory environment. The company's activities are therefore characterized by high-stakes legal proceedings combined with early-stage exploration for commodities critical to the energy transition.

The core strategic objective is the defense and enforcement of the company's investment rights through international arbitration. This legal strategy, initiated in 2024, seeks preliminary compensation in the order of US$1 billion for alleged breaches of the Energy Charter Treaty by a sovereign state, following the rejection of a key construction permit in 2021. While pursuing this legal recourse, the organization remains open to constructive dialogue with the relevant authorities to find an amicable resolution. A parallel strategy involves assessing new business and development opportunities within the broader resources sector to build shareholder value. This includes advancing a solar power system project, for which a study has been finalized and an application submitted. Furthermore, a significant exploration initiative is underway to identify and develop resources of battery and critical metals. This program is designed to leverage existing tenements and includes multi-phase drilling campaigns to test defined tin-lithium anomalies. This multifaceted strategy aims to unlock the value of its primary asset through legal channels while simultaneously creating new growth options through diversification into other critical materials and renewable energy.

Executive leadership features seasoned industry professionals with extensive corporate and technical experience. The Chairman is a Chartered Accountant with a background as a senior group executive for a major mining group and currently serves as a director for numerous publicly listed resource companies. The Acting Managing Director is a geologist with over 30 years of experience in mineral exploration and mining, recognized for his instrumental role in the growth and subsequent billion-dollar acquisition of an African-focused development company. A Non-Executive Director contributes nearly 3 decades of institutional fund management experience, having co-founded a successful investment boutique in London. The board of directors, currently comprising 3 members, takes a direct oversight role, performing the functions of an Audit Committee and a Risk Committee. A separate Remuneration and Nomination Committee, consisting of 2 directors, is responsible for determining executive remuneration and overseeing incentive plans. This governance structure reflects a lean, hands-on approach suited to the company's current focus on legal strategy and exploration.

The company's commitment to sustainability is formalized through its certification in accordance with ISO 14001 for Environmental Management and UNE 22470/80 for Sustainable Mining Management. These systems provide a framework for the systematic monitoring and continuous improvement of sustainability indicators. An independent audit of these management systems during the year confirmed compliance and noted ongoing enhancements to climate change and sustainability processes. A key initiative demonstrating this commitment is the development of a solar power system at its project site; a detailed study for this system has been finalized and a formal application has been submitted to the relevant authorities. This project is aligned with the organization's goal of promoting environmental sustainability and generating a positive impact. The enterprise also publishes an annual Sustainability Report to maintain transparency and track progress against its sustainability goals, which are reviewed and updated for each reporting period.

The corporate structure consists of a parent entity with wholly owned operational subsidiaries, including Berkeley Exploration Ltd, Berkeley Minera España, S.L.U., and Exploración de Recursos Minerales, S.L.U. In a significant structural action, the subsidiary Berkeley Exploration Ltd filed a Request for Arbitration in 2024 against a sovereign state before the International Centre for Settlement of Investment Disputes (ICSID) to enforce its investment rights. This proceeding is central to the company's current activities. The ownership base is highly concentrated, with nominee and custody entities holding a significant portion of the equity. One nominee entity, BNP Paribas Nominees Pty Ltd, holds a controlling interest of 56.53% on behalf of underlying beneficial owners. Other major holders include HSBC Custody Nominees (12.07%), Computershare Clearing (11.84%), and another BNP Paribas entity (6.59%). The company has also received substantial shareholder notices from Paradice Investment Management Pty Ltd and Packer & Co Ltd, indicating a notable presence of institutional and private trust investors.