14 January 2021

December 2020 Quarter Production Report & revised FY21 guidance

Highlights

• Safety performance for the twelve months ended 31 December 2020, 5.41 TRIFR
• December quarter managed run-of-mine (ROM) production of 5.1Mt, up 64% on previous corresponding period (pcp)
• December quarter managed saleable coal production of 3.9Mt, up 15% on pcp
• December quarter total managed coal sales 4.5Mt, in line with pcp, managed own coal sales 3.9Mt, up 15% on pcp, total equity coal sales 3.7Mt, in line with pcp, and equity sales of own coal 3.2Mt, up 14% on pcp
• Managed coal stocks of 2.3Mt at period end
• The outage of one of Newcastle Coal Infrastructure Group’s (NCIG) two shiploaders has resulted in 550kt of equity sales of own coal slipping from December 2020 into January 2021
• FY21 guidance updated and tightened
• Winchester South maiden JORC Reserves Statement of 350Mt, and upgrade of JORC Resources to 1,100Mt
• No known cases of COVID-19 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:

“Across our open cut operations we are seeing much more consistent and better performance across production and overburden management and our guidance range has tightened accordingly.”

“During the latter part of the December quarter there was a strong rebound in pricing and we are increasingly optimistic that underlying market dynamics are supportive of continued improvement in this area.”

“It is pleasing to have reached key milestones for both Narrabri Stage 3 and Winchester South development projects, with the submission of both projects’ Environmental Impact Statements and Winchester South’s maiden Reserve Statement.”

“We are continuing to progress our development pipeline but work is proceeding cautiously and in line with the company’s strict capital allocation framework.”

Read the full December 2020 Quarterly Production Report here.

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