Berkeley Energia Announces Expiry of 7.6 Million Unexercised Options as of June 30, 2026

Details on the Expiry of 7.6 Million BKYAA Options on 30 June 2026

On 1 July 2026, Berkeley Energia submitted an Appendix 3H to the Australian Securities Exchange formally notifying the expiry of 7,600,000 options issued under ASX security code BKYAA. These options had an exercise price of $0.65 per share and expired on 30 June 2026. The company confirmed that none of the options were exercised or converted before expiry, resulting in their cessation.

The Appendix 3H filing is a regulatory requirement for ASX-listed companies when a class of securities ceases to exist. Berkeley Energia stated that no consideration was paid in relation to the expiry, consistent with a standard lapse rather than a buyback or cancellation. This expiry is now reflected in the company's issued capital records filed with the ASX.

Insights from the $0.65 Exercise Price and Holder Decisions

The fact that all 7,600,000 options expired unexercised suggests option holders did not find it financially advantageous to convert their options into Berkeley Energia ordinary shares at the $0.65 exercise price before expiry. Generally, options are exercised when the market price of the underlying shares exceeds the exercise price, providing immediate value to holders. The company did not provide commentary regarding its share price or trading conditions in this announcement.

While the direct share price impact is not disclosed, the lapse of options at a $0.65 strike price without exercise may indicate that Berkeley Energia's share price had not consistently traded above this level prior to expiry. Investors are likely to interpret this data point independently, as the company made no statement on share price performance in this filing.

Current Ordinary Share Count Totals 446,293,143

Following the expiry of BKYAA options, Berkeley Energia's issued capital now consists of 446,293,143 fully paid ordinary shares, quoted on the ASX under ticker BKY. This figure represents the company's on-market share count and forms the basis for the ASX's calculation of Berkeley Energia's total market capitalization, according to the Appendix 3H filing.

It is important to note that the Appendix 3H includes a standard ASX disclaimer indicating that the reported capital figures may not reflect the company's current issued capital if other Appendix 2A, 3G, or 3H forms are being processed simultaneously by the exchange. Investors seeking the most accurate and up-to-date issued capital information should consult Berkeley Energia's latest disclosures or the ASX's official records.

Outstanding Unquoted Options: 3.3 Million BKYAB Expiring September 2028

With the BKYAA options now fully expired, Berkeley Energia retains one class of unquoted options. Under ASX security code BKYAB, the company has 3,300,000 options outstanding, each with an exercise price of $0.80 and an expiry date of 30 September 2028. These options are unquoted and do not trade on the ASX, but they represent potential dilution for ordinary shareholders if exercised.

The BKYAB options carry a higher exercise price than the expired BKYAA options. Whether these remaining options will be exercised before their expiry depends on Berkeley Energia's share price performance and the decisions of option holders in the coming years. The company did not disclose any information about the identities of BKYAB holders or their intentions in this update.

Impact on Fully Diluted Share Count

Before the 30 June 2026 expiry, Berkeley Energia's fully diluted share count included the 7,600,000 BKYAA options as potential shares. With those options now expired, the maximum theoretical dilution from unquoted options is reduced to 3,300,000 shares from the BKYAB class if fully exercised. This sets the fully diluted share count at approximately 449,593,143 shares based on disclosed securities.

A reduction in potential dilution is generally positive for existing shareholders, as it limits the number of new shares that could be issued, thereby reducing potential dilution of earnings per share or net asset value per share. The company made no forward-looking statements regarding capital raising, new option grants, or other equity instruments in this announcement.

Berkeley Energia's Salamanca Uranium Project and Investment Outlook

Berkeley Energia is an ASX-listed uranium developer focused on advancing its Salamanca uranium project in western Spain. The company has been progressing through permitting and regulatory approvals necessary for project development. Operating within the uranium sector, Berkeley Energia is positioned amid renewed global investor interest due to energy security concerns and the reassessment of nuclear power's role in low-carbon electricity generation.

The expiry of BKYAA options is primarily a capital management and administrative event rather than a development milestone. Nonetheless, it contributes to the understanding of Berkeley Energia's equity structure at a time when investors closely monitor uranium companies alongside commodity price trends and regulatory developments. This filing did not include any operational or project updates.

Regulatory Context of the Appendix 3H Filing

The Appendix 3H is a mandatory ASX Listing Rules disclosure that companies must lodge when a class of securities ceases to exist—whether by expiry, cancellation, or conversion. By submitting the form on 1 July 2026, the day after the options expired, Berkeley Energia fulfilled its obligation to promptly notify the market of changes to its securities on issue. This timely filing aligns with ASX continuous disclosure requirements.

The announcement was classified as a new release rather than an amendment or replacement, marking it as the first formal notification of the BKYAA option expiry. Berkeley Energia's registered ABN is 40 052 468 569. The company stated no additional information was provided beyond the capital table disclosures within the filing.

Investor Considerations Following the Option Expiry

Investors monitoring Berkeley Energia's capital structure should focus on the status of the remaining 3,300,000 BKYAB options, which carry an exercise price of $0.80 and expire on 30 September 2028. Whether these options are exercised or lapse similarly will depend on share price movements and option holder strategies.

Beyond options, investors may watch for updates on Berkeley Energia's broader corporate activities, including progress on the Salamanca project, regulatory developments in Spain, or new capital management initiatives. This announcement provided no forward guidance, project updates, or financial results—solely a notification of securities expiry. For a comprehensive view of Berkeley Energia's strategic direction, investors should consult the company's latest investor presentations, annual report, and subsequent ASX market releases.

No Consideration Paid and No Additional Securities Impact Noted

Berkeley Energia confirmed that no consideration was paid in relation to the expiry of the 7,600,000 BKYAA options, indicating the options simply expired per their terms without buyback or cancellation payments. This is standard when options are not exercised before expiry.

The company also indicated no further information was provided to the ASX beyond the Appendix 3H disclosures. This suggests the lapse was a routine administrative event with no associated transactions, agreements, or strategic implications requiring additional disclosure under ASX Listing Rules. Investors can regard this filing as a standard update to Berkeley Energia's securities register.