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BERKELEYenergía NEWS RELEASE | 30 July 2021 Quarterly Report June 2021 Summary : • Permitting Update : • Subsequent to the end of the quarter , Berkeley Energia Limited ( " Berkeley " or the " Company " ) reported that the Board of the Nuclear Safety Council ( " NSC " ) had issued an unfavourable report for the grant of the Authorisation for Construction for the uranium concentrate plant as a radioactive facility ( " NSC II " ) . The Company has however taken the first steps to overturn the NSC II decision following the submission of 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 had been opened and provided Berkeley with the opportunity to submit relevant documentation to MITECO by 4 August 2021 . 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 . Sustainability : During the quarter , Berkeley published its first annual Sustainability Report , a voluntary transparency initiative through which the Company has communicated information regarding its management systems in the areas of health , safety , environmental protection and social responsibility , as well as its performance in sustainability , to all stakeholders . • Uranium Market : The uranium spot price increased ~ 4 % to close at US $ 32.10 per pound at the end of the quarter with spot market activity decreasing in June 2021 which had a total of 4.4 million pounds transacted , compared to 6.4 million pounds in May 2021 . Activity in the uranium term market increased somewhat as new demand emerged from a U.S. utility seeking slightly more than 1.1 million pounds for delivery in 2022-2025 . UxC reported that " Other activity continues in the market as several utilities have been in discussions with potential suppliers or evaluating unsolicited offers " . Despite the incremental uptick in activity , the UxC long - term price remained unchanged at US $ 32.00 per pound . Berkeley Energia Limited | LSE / ASX / BdM : BKY | ABN : 40 052 468 569 | www.berkeleyenergia.com MADRID Calle Capitán Haya 1 , Planta 15. Edificio Eurocentro , 28020 Madrid , Espana | T : +34 91 555 1380 PERTH Level 9 , 28 The Esplanade , Perth WA 6000 | T : +61 8 9322 6322 | F : +61 8 9322 6558