15 April 2021

March 2021 Quarter Production Report & revised FY21 guidance

Highlights

• March quarter managed run-of-mine (ROM) production of 5.5Mt, up 12% on previous corresponding period (pcp)
• March quarter managed saleable coal production of 4.3Mt, up 6% on pcp
• March quarter total managed coal sales 4.8Mt, up 7% on pcp, managed own coal sales 4.2Mt, up 7% on pcp, total equity coal sales 4.0Mt, up 7% on pcp, and equity sales of own coal 3.4Mt, up 7% on pcp
• Managed coal stocks of 2.8Mt at period end
• As reported to the market on 23 March 2021, rail and port infrastructure were impacted by weather events in March and the outage of Newcastle Coal Infrastructure Group (NCIG) shiploader SL1
• Strong and consistent ROM production from our largest mine Maules Creek, despite impact of March rain events on production
• Narrabri underground mine performance impacted by continuing geological challenges which has resulted in unscheduled down time and additional longwall equipment repairs
• Considering the ongoing challenging conditions at Narrabri underground mine the Company deems it prudent to revise FY21 production, sales and unit cost guidance, refer to page 7 for details
• 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:

“Q3 FY21 has been a mixed bag from an operational perspective and in having to address a number of logistical challenges.

“Pleasingly we are seeing much improved and more consistent performance from our largest operation at Maules Creek, notwithstanding adverse weather in recent weeks.

“Offsetting this progress to some extent has been the geological challenges encountered at the Narrabri Underground which has impacted production.

“Coal prices have continued to improve over the quarter, responding to increased economic activity as well as supply constraints.

“Disappointingly, we have had to revise down our FY21 production, sales and unit cost guidance due to the ongoing geological challenges at our underground mine, Narrabri.”

Read the full March 2021 Quarterly Production Report here.

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