Berkeley Energia Appoints Former Endesa CEO José Bogas Gálvez as Independent Non-Executive Director to Boost Spanish Uranium Project

Berkeley Energia’s Strategic Focus on Spain’s Uranium Market

Berkeley Energia Limited, an Australian-listed mineral exploration and development company, concentrates on uranium resources in Spain through its key asset, the Salamanca Project. This uranium development initiative represents a critical step toward production, though it faces complex permitting challenges within Spain’s regulatory framework.

Spain’s role as a significant European uranium jurisdiction positions Berkeley strategically within the continent’s energy landscape. The country’s nuclear capacity is vital to its electricity generation and broader European energy security. By appointing José Bogas, who possesses extensive networks and deep sector knowledge in Spain, Berkeley aims to better navigate regulatory and business environments critical to advancing the Salamanca Project despite existing permitting obstacles.

José Bogas Gálvez’s Leadership at Endesa and Industry Influence

José Bogas Gálvez brings a distinguished career to Berkeley’s board, having served as CEO of Endesa, one of Spain’s largest multinational electric utilities with significant nuclear interests, for 12 years. His leadership spanned strategic transformations that maintained Endesa’s dominance in the Spanish electricity market until April 2026. He continues to serve as a Director at Endesa, remaining engaged in strategic company matters.

Beyond Endesa, Mr Bogas has held key roles in Spanish and European energy institutions, including past membership on the Board of Directors of AELEC and his current position as Honorary Vice-Chairman and Board Member of the Spanish Energy Club. These roles have cultivated extensive connections across government, industry, and regulatory bodies, assets Berkeley values highly in addressing Salamanca Project permitting challenges.

Recognitions Highlighting Mr Bogas’s Energy Sector Leadership

Mr Bogas’s contributions have earned notable accolades: the 2024 Influential Award in the Professional Career category from El Confidencial, the 2025 Executive of the Year by Merca2, and the 2026 Forbes Best Vision of the Future Award at the World Economic Forum in Davos. These honors underscore his reputation as a visionary and influential figure within Spanish and global energy sectors.

Such recognition enhances Berkeley’s credibility in Spain and Europe, strengthening its position with stakeholders influential in permitting and regulatory decisions impacting the Salamanca Project.

Strategic Importance of the Non-Executive Director Role

Berkeley’s Executive Director, Robert Behets, emphasized that Mr Bogas’s extensive business and government networks will significantly bolster the company’s standing in Spain, aiding efforts to resolve permitting issues for the Salamanca Project. The appointment shortly after Mr Bogas’s April 2026 departure from Endesa indicates a swift strategic engagement focused on leveraging his advisory capabilities and external relationships rather than full-time operational duties.

Compensation and Incentive Structure

Mr Bogas will receive an annual Non-Executive Director fee of A$45,000, plus a committee fee of A$15,000 for his role on the Remuneration and Nomination Committee, totaling A$60,000 in cash compensation annually. Additionally, he has been granted 2,000,000 unlisted options exercisable at A$0.80 each, expiring on 30 September 2028, vesting over 18 months. This equity component aligns his interests with Berkeley’s long-term value creation.

Impact on Berkeley’s Capital Structure

Following the option grant, Berkeley now has 446,293,143 ordinary fully paid shares issued and 5,300,000 unlisted options exercisable at A$0.80 on or before 30 September 2028. Mr Bogas’s options represent a significant portion of this pool. While these options may dilute shareholders upon exercise, they currently carry no voting or dividend rights.

Challenges in Spain’s Uranium Regulatory Landscape

Spain’s nuclear and uranium permitting environment is complex and politically sensitive, governed by EU safety and environmental directives alongside national policies. The Salamanca Project has experienced permitting delays, which Berkeley acknowledges require resolution. Mr Bogas’s appointment reflects the company’s strategy to leverage his government and regulatory relationships to facilitate progress.

Relevance of Endesa’s Nuclear Portfolio to Berkeley

Endesa’s significant role in Spain’s nuclear energy sector, including ownership stakes in nuclear power plants, provides Mr Bogas with direct operational and regulatory experience relevant to uranium development. His European energy sector involvement further equips him with insights into EU energy policies and cross-border considerations, beneficial for Berkeley’s strategic positioning.

Governance and Board Dynamics

As an independent Non-Executive Director, Mr Bogas offers an external perspective and governance expertise, particularly through his membership on Berkeley’s Remuneration and Nomination Committee. The appointment complies with ASX listing rules, with full disclosure of his securities interests submitted via an Appendix 3X Initial Director’s Interest Notice.

Outlook and Investor Guidance

Investors should watch for tangible progress on Salamanca Project permitting following Mr Bogas’s appointment. While signaling enhanced engagement with Spanish stakeholders, the announcement does not specify timelines or milestones for permitting resolution. The 18-month vesting period for his options suggests Berkeley anticipates ongoing activity through early 2028.

Shareholders are advised to review future company disclosures for updates on regulatory developments and project advancement. Mr Bogas’s role represents a strategic investment in influence and expertise rather than an immediate guarantee of project milestones.