NEWS RELEASE | 25 March 2025

ASX Price Query

Berkeley Energia Limited (Berkeley or the Company) advises that the below response was provided to the Australian Securities Exchange (ASX) following the receipt of a query from ASX regarding recent trading in the Company's securities

To view the announcement in full, please refer to:

https://app.sharelinktechnologies.com/announcement/asx/4c3adf31daba09555604f43d0105fa8d.

Classification 3.1 Additional regulated information required to be disclosed under the laws of a Member State

For further information please contact:

Robert Behets                          Dylan Browne              

Acting Managing Director          Company Secretary       

+61 8 9322 6322                                                                       

[email protected]

25 March 2025

Scarlette De Lavaine

Australia Securities Exchange

Level 40, Central Park

152-158 St Georges terrace

Perth WA 6000

By email:        [email protected]

                        [email protected]

Dear Scarlette,

Response to Price and Volume Query

In response to your correspondence dated 25 March 2025 regarding an increase in the Company's share price and in the volume of trading securities, the Company's response is as follows:

1.         The Company is not aware of any information that has not been announced which, if known, could be an explanation for recent trading in the securities of the Company.

2.         Not applicable.

3.         As previously disclosed, the Company notes recent important developments in Spain:

(i)         Proposal to Reverse Spain's Nuclear Phase-out Approved by Parliament

o     The Plenary Session of the Spanish Congress approved a non-law proposal calling for the government to implement a series of measures that would reverse the country's decision to phase out nuclear power. Under current plans, Spain's power reactors are all scheduled to shut by 2035. The proposal, presented by the right-wing People's Party, was passed in February 2025, with 171 votes in favour, 164 against and 14 abstentions. The non-law proposal is not binding but it urges the Spanish Government to follow a policy in accordance with its content.

(ii)        Demonstrations

o     According to figures from Spain's Civil Guard, approximately 7,000 people attended a demonstration against the planned closure of the Almaraz nuclear power plant in Extremadura as part of Spain's nuclear phase-out policy.

The demonstration was called by the municipalities in the area of influence of the Almaraz nuclear power plant and the citizens' platform "Yes to Almaraz, Yes to the Future" to demand the continuation of the activity of the Extremadura plant in light of the closure planned by the central government. The platform is also currently presenting to the EU in Brussels.

(iii)       Nuclear Power Plant Continuation

o     One of Spain's nuclear operators, said it has received notification of the ministerial order extending the operating permit for the Trillo nuclear power plant until November 2034. The Ministry for Ecological Transition and the Demographic Challenge (MITECO) had considered the favourable report issued by the Nuclear Safety Council (NSC) in its decision to grant the operating extension.

(iv)       Nuclear Industry Manifesto

o     Companies representing the Spanish nuclear industry have signed a manifesto calling for the long-term operation of the country's nuclear power plants. Under current plans, Spain's power reactors are all scheduled to shut by 2035.

The manifesto - signed by 32 companies, including Empresarios Agrupados-GHESA (EAG), Framatome, GDES, GE Vernova, IDOM and Westinghouse - says: "We urge the initiation of a dialogue and renegotiation of the 2019 agreement on the phased shutdown of nuclear power plants. This agreement was made under an industrial, geopolitical, social and economic context that is vastly different from today's reality.

The signatories call on the Spanish government and relevant authorities to revise the National Integrated Energy and Climate Plan to incorporate measures ensuring the continuity of nuclear energy. "This energy source must be recognised as reliable, efficient and competitive, with low carbon emissions, and should receive fair treatment to encourage investment," they say.

4.         The Company confirms that it is in compliance with the listing rules, in particular, Listing Rule 3.1.

5.         The Company confirms that its responses to the questions above have been authorised and approved in accordance with its published continuous disclosure policy or otherwise by its board or an officer of the Company with delegated authority from the board to respond to ASX on disclosure matters.

Yours faithfully

[sent electronically without signature]

Dylan Browne

Company Secretary