25 July 2025

June 2025 Quarter Production Report

Group highlights – Q4 production and sales were strong, with FY25 guidance targets met or exceeded

FY25 total recordable injury frequency rate (TRIFR) of 4.6 for employees & contractors
June quarter Managed ROM production of 10.6Mt, up 15% on the March quarter, and 39.1Mt for FY25, up 60% on FY24 as a result of a full year of Blackwater and Daunia ownership
Total June quarter equity sales of produced coal of 6.0Mt, and 26.5Mt for FY25
FY25 revenue mix of ~64% metallurgical and ~36% thermal coal sales
FY25 unit cost of coal of ~$139/t, and capex of ~$390 million both better than guidance
First deferred payment of US$500 million paid on 2 April 2025 and first contingent payment of US$9 million paid on 2 July 2025 to BMA.

QLD – FY25 production exceeded guidance and sales in the top half of guidance

QLD managed ROM production of 5.6Mt for the June quarter, up 26% on the March quarter; FY25 ROM production of 20.0Mt, up ~15% on FY24 (including 9-months under BMA ownership)
QLD equity sales of produced coal of 3.3Mt for the quarter and 14.9Mt for FY25 reflecting 70% equity ownership of Blackwater since 1 April 2025
June quarter average coal price of A$208/t for QLD operations. FY25 realisations for metallurgical coal at 78% of the PLV HCC Index.

NSW – FY25 production and sales well within guidance

NSW managed ROM production of 4.9Mt in the June quarter, up 5% on the March quarter; FY25 ROM production of 19.1Mt, broadly in line with FY24
NSW equity sales of produced coal of 2.7Mt for the quarter and 11.5Mt for FY25, well within guidance
June quarter average price of A$166/t achieved from NSW operations, with FY25 realisations for thermal coal at 103% of gC NEWC.

Comments from MD and CEO Paul Flynn

“Whitehaven delivered strong operational results in the June quarter, capping off a very strong year in FY25. We’ve established a solid foundation for our Queensland operations, with FY25 outcomes meeting or exceeding our guidance. In parallel, our New South Wales operations performed well overall, particularly our open cut mines.

“In the June quarter, Queensland produced 5.6Mt of ROM and New South Wales produced 4.9Mt, to close the year with 39.1Mt of group ROM production. This compares with 24.5Mt in FY24, which included the first quarter of production from the acquired Queensland operations, and is at the top end of our FY25 guidance range of 35.0 – 39.5Mt. Equity sales of produced coal of 26.5Mt for the year were also at the top end of guidance.

“Whitehaven is managing well through the current soft pricing environment. Our focus on cost management is reflected in the estimated A$139/t cost of coal for FY25, which is better than our cost guidance for the year.

“Whitehaven is in a strong financial position with net debt of $0.6b at 30 June 2025 after paying the first deferred payment of US$500m to BMA in the June quarter. We look forward to presenting our FY25 financial results and FY26 guidance on 21 August.”

Read the full June 2025 Quarter Production Report here.

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