28 April 2026

March 2026 Quarterly Production Report

Solid ROM production and strong sales across both QLD and NSW operations

YTD FY26 total recordable injury frequency rate (TRIFR) of 3.2 (4.6 in FY25) for employees & contractors
Managed ROM production of 9.5Mt, 14% lower than the December quarter reflecting seasonality and the strong prior quarter
Equity sales of produced coal of 6.8Mt, broadly consistent with the December quarter
Metallurgical and thermal coal prices improved with PLV HCC up 18% and gC NEWC up 11% quarter-on-quarter
On track to deliver targeted A$60 million to A$80 million of annualised cost savings by 30 June 2026
Net debt at 31 March 2026 was A$0.6 billion (compared with A$0.7 billion on 31 December 2025) before the second deferred acquisition payment to BMA of US$500 million was made on 2 April 2026
Refinancing of acquisition debt and smaller facilities completed in April 2026 via US$900 million of senior secured notes and US$600 million of bank funding, delivering interest savings of A$50-$55 million p.a. from May 2026.

QLD – Strong Q3 sales while ROM production of 4.1Mt reflected the QLD wet season

QLD managed ROM production of 4.1Mt for the March quarter, 28% down on December quarter as seasonal wet weather disrupted production
QLD equity sales of produced coal of 3.2Mt for the quarter an 8% improvement on December quarter as wet weather preparation allowed for stock draw down
March quarter average achieved price of A$242/t for QLD operations with 12-month average metallurgical coal realisations at 74% of the PLV HCC Index.

NSW – Strong Q3 sales and solid ROM production of 5.4Mt underpinned by open cuts

NSW managed ROM production of 5.4Mt in the March quarter in line with the December quarter
NSW equity sales of produced coal of 3.6Mt for the quarter, down 9% on the December quarter
March quarter average achieved price of A$175/t for NSW operations with thermal coal realisations at 101% gC NEWC.

Comments from MD and CEO Paul Flynn

“Production in the March quarter was broadly in line with plan reflecting strong outcomes from NSW open cut operations and solid results from Queensland operations in a weather impacted quarter. For the first nine months of the year we have produced 29.5Mt of ROM, and we are on track to be firmly in the upper half of guidance for FY26.

“Equity sales of 6.8Mt for the quarter were also strong and are tracking at the upper end of guidance for the year. Revenue mix for the quarter was ~58% from metallurgical coal sales and ~42% from thermal coal sales.

“Cost discipline remains a priority, and we are tracking well within the guidance range of A$130-145/t for the year. Higher thermal coal prices are more than offsetting the impact of higher diesel costs.

“Whitehaven’s financial position is strong. Our successful refinancing of the acquisition debt facility and smaller
finance facilities will deliver considerable savings in the order of ~A$50-55 million per annum.”

Read the full March 2026 Quarterly Production Report here.

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