29 January 2026

December 2025 Quarterly Production Report

Group highlights – Strong production with improving markets

YTD FY26 total recordable injury frequency rate (TRIFR) improved to 2.9 (4.6 in FY25) for employees & contractors
Managed ROM production of 11.0Mt, up 21% on the September quarter
Equity sales of produced coal of 7.0Mt, up 18% on the September quarter
H1 FY26 production and sales provide a solid foundation for strong FY26 performance
Improving metallurgical coal market dynamics with PLV HCC increasing 9% quarter-on-quarter
Unit cost of production for the quarter was at the low end of FY26 guidance, resulting in unit of cost of coal for H1 FY26 of ~A$135/tonne, subject to final audit
On track to deliver A$60 million to A$80 million of annualised cost savings by 30 June 2026
Net debt at 31 December 2025 of A$0.7 billion (down from A$0.8 billion at 30 September).

QLD – Daunia and Blackwater delivered solid Q2 production with H1 FY26 ROM of 10.3Mt

QLD managed ROM production of 5.6Mt for the December quarter, up 20% on September quarter
QLD equity sales of produced coal of 3.0Mt for the quarter, steady on the September quarter
September quarter average price of A$225/t for QLD operations with 12-month average metallurgical coal realisations at 75% of the PLV HCC Index.

NSW – A strong quarter of production to close H1 FY26 with 9.7Mt ROM

NSW managed ROM production of 5.4Mt in the December quarter, up 23% on the September quarter
NSW equity sales of produced coal of 4.0Mt for the quarter, up 40% on the September quarter, driven by strong sales from Narrabri
December quarter average price of A$163/t achieved from NSW operations with thermal coal sales realisations at 99% gC NEWC.

Comments from MD and CEO Paul Flynn

“With a solid second quarter of production and sales, Whitehaven closed the first half of FY26 with 20.0Mt of managed ROM production including 11.0Mt in the December quarter.

“New South Wales ROM production of 5.4Mt for the quarter included strong volumes from Narrabri, while Queensland contributed 5.6Mt with both Daunia and Blackwater capitalising on good weather and mining conditions.

“We continue to experience strong demand for Whitehaven’s products, with 12.8Mt of equity coal sales for the first half including 7.0Mt for the quarter. Metallurgical coal prices improved during the period, while thermal prices were steady on the previous quarter.

“Cost discipline remains a priority, and with a half year unit cost of A$135/t, we are tracking well within the guidance range of A$130-145/t.

“Whitehaven’s financial position remains strong, with net debt of ~A$0.7b and liquidity of A$1.5b at 31 December 2025.”

Read the full December 2025 Quarterly Production Report here.

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