29 January 2025

December 2024 Quarter Production Report

Group highlights

Q2 FY25 total recordable injury frequency rate (TRIFR) of 4.9 for employees & contractors
Managed ROM production of 9.7Mt for the December quarter, in line with the September quarter
Total equity sales of produced coal of 7.8Mt for the quarter, up 22% on the September quarter
Revenues for the quarter reflected ~63% metallurgical and ~37% thermal coal sales1
Unit production costs are at the lower end of FY25 guidance range
Net debt at 31 December 2024 was A$1.0 billion (versus A$1.2 billion at 30 September)
US$1.08 billion of proceeds from the 30% sell down of Blackwater expected to be received in Q3 FY25.

QLD – solid production volumes from Daunia and Blackwater with sales ahead of plan

Managed ROM production of 4.6Mt from QLD operations, down 14% on September quarter
QLD sales of produced coal of 4.6Mt, up 28% on September quarter
Average coal price of A$237/t achieved, equivalent to 75% of the PLV HCC Index
Good productivity and cost out initiatives delivering in Q2 FY25.

NSW – improved volumes from open cuts; Narrabri output in line with plan

Managed ROM production of 5.1Mt from NSW operations, up 17% on September quarter
NSW equity sales of produced coal of 3.2Mt, up 15% on September quarter
Average coal price of A$211/t achieved from NSW operations, in line with gC NEWC
ROM production from NSW mines in Q2 FY25 in line with or better than plan.

Comments from MD and CEO Paul Flynn

“I’m pleased to report another solid quarter of production and sales across our operations to close the first half of FY25 with strong ROM production of 19.4Mt, including 9.9Mt from our Queensland mines and 9.4Mt from our New South Wales mines.

“Production and sales volumes are tracking very well, including record sales volumes from Daunia in the December quarter. We are on track to deliver firmly in the upper half of FY25 production and sales guidance, and at the low end of our full year cost guidance range.

“We are continuing to reshape our Queensland business for long-term success, with good progress being made to deliver productivity gains and cost improvements.

“We expect to receive the US$1.08 billion of proceeds from the 30% sell down of Blackwater in Q3 FY25, further strengthening the balance sheet and providing an opportunity to review Whitehaven’s capital allocation at the end of FY25.”

Read the full December 2024 Quarter Production Report here.

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