15 October 2020

September 2020 Quarterly Production Report

Highlights

• Maintaining strong safety performance with TRIFR at 4.74 for the twelve months ended 30 September 2020
• Strong September quarter coal sales, total managed coal sales 6.0Mt, up 13% on previous corresponding period (pcp), managed own coal sales 5.6Mt, up 15% on pcp, record total equity coal sales 5.0Mt, up 13% on pcp, record equity sales of own coal 4.6Mt, up 16% on pcp
• September quarter managed run-of-mine (ROM) production of 4.5Mt, up 4% on pcp
• September quarter managed saleable coal production of 4.9Mt, up 2% on pcp
• Managed coal stocks of 1.8Mt at period end
• On 12 August 2020 the NSW Independent Planning Commission (IPC) approved the Vickery Extension Project to operate at up to a 10Mtpa open cut metallurgical and thermal coal mine
• Refined FY21 guidance unit cost range of A$69-A$72/t
• Strong liquidity level which remains unchanged from 30 June 2020
• Finalising agreement with finance providers to amend ICR covenant ratio to generate enhanced headroom
• No known cases of COVID-19 have been confirmed at any of our sites to date and operations remain largely unaffected but for distancing and hygiene measures

Comments from Whitehaven Coal Managing Director and CEO Paul Flynn:

“Notwithstanding COVID-19 headwinds, the September quarter saw strong sales in response to demand for our product from customers in Asia.”

“Operationally, we have continued the June quarters’ momentum by delivering on-plan mining performance of coal and overburden across all operations laying a solid foundation to much improved operational results.”

“In a more capital constrained environment we continue to cautiously progress our development projects and implement a range of business improvement measures to drive cost reductions.”

Read the full September 2020 Quarterly Production Report here.

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