Whitehaven Coal Limited · ASX:WHC
Whitehaven Coal — Shareholder Meeting (October 2025)
25 slides from Whitehaven Coal's shareholder meeting presentation, Oct 30, 2025
Slide 1: 2025 Annual General Meeting – Addresses and Presentations
ASX Announcement 30 October 2025 2025 Annual General Meeting – Addresses and Presentations Attached are the following which will be delivered at the Company’s Annual General Meeting being held today at 10:00am (Sydney time): • Chairman’s address • Managing Director & CEO’s address For personal use o
Slide 2: Chairman's Address
Addresses to the Whitehaven Annual General Meeting 30 October 2025 Chairman’s Address The Hon. Mark Vaile AO Ladies and Gentlemen, I begin by acknowledging the Traditional Owners of the land on which we meet, the Gadigal people of the Eora For personal use only Nation, and pay my respects to their e
Slide 3: Financial performance and shareholder value
Financial performance and shareholder value Whitehaven generated revenue of $5.8 billion in FY25, a 53% increase from the prior year, with underlying EBITDA of $1.4 billion and underlying EBITDA margins of 27%. Underlying NPAT was $319 million, before $330 million of post-tax gains associated with t
Slide 4: Sustainability and climate
Sustainability and climate Sustainability is central to our strategy. We are progressing our operational emissions reduction measures and are aligned with our obligations under the Safeguard Mechanism. Our Scope 1 emissions intensity reduction target is on track, in line with our obligations under t
Slide 5: Remuneration aligned with our strategy and shareholder value
Remuneration aligned with our strategy and shareholder value Our strategy is to own and sustainably operate large, cost-efficient mines producing high-quality thermal coal and metallurgical coal to meet the needs of our customers and support economic development both here in Australia and overseas.
Slide 6: Managing Director and Chief Executive Officer's Address
Managing Director and Chief Executive Officer’s Address Paul Flynn Thank you, Chairman, and thank you to our shareholders for joining us at Whitehaven Coal’s Annual General Meeting for 2025. To begin, I’d like to reflect on how far we’ve come and the milestones we’ve achieved this past year. Deliver
Slide 7: FY25 revenue, NPAT and acquisition payments
In FY25, revenues reached $5.8 billion, up 53% from FY24, with a revenue mix of 64% metallurgical coal and 36% thermal coal. Underlying NPAT was $319 million, and statutory NPAT of $649 million included $330 million of non- recurring net gains arising from the Queensland acquisition. The first defer
Slide 8: Market conditions and supply gap outlook
Since June, thermal prices have been recovering and met coal prices appear to have stabilised. Market conditions are showing signs of improving on the back of policies in China to address oversupply of coal and steel, together with more certainty around US tariffs. For Whitehaven, demand for our pro
Slide 9: FY26 Guidance
FY26 Guidance Looking at full year guidance for FY26. FY25 was a strong year and, while we have room to increase production and sales in FY26 within our guidance ranges, we are also providing guidance that is realistic for current circumstances and market conditions. Our managed ROM guidance is 37 a
Slide 10: 2025 Annual General Meeting
For personal use only 2025 Annual General Meeting 30 October 2025 Whitehaven Coal Limited ABN 68 124 425 396 P +61 2 8222 1100 F +61 2 8222 1101 Level 28, 259 George Street, Sydney NSW 2000 PO Box R1113, Royal Exchange
Slide 11: Chairman's Address
For personal use only Chairman’s Address The Hon. Mark Vaile AO Chairman, Whitehaven 2
Slide 12: The Queensland acquisition has transformed Whitehaven
The Queensland acquisition has transformed Whitehaven Completed in Apr-24, the acquisition was aligned with a long-held strategy to grow in metallurgical coal DAUNIA & BLACKWATER For personal use only Long-held strategy to grow in metallurgical coal met coal mines acquired from BMA WHC lists NARRABR
Slide 13: Strong operational performance underpinned solid results
Strong operational performance underpinned solid results FY25 Operational results 26.5Mt For personal use only 39.1Mt A$215/t $139/t Managed ROM production Equity sales of produced coal Whitehaven achieved price Unit cost of coal including 20.0Mt from QLD operations up 61% on FY24 reflecting the Res
Slide 14: Safety performance is tracking well
Safety performance is tracking well QLD and NSW operations consolidated including 5-year historic data For personal use only 4.6 Total Recordable Injury Frequency Rate (TRIFR) - employees and contractors Combined data for Whitehaven operations and Whitehaven owned / BMA owned Daunia and Blackwater o
Slide 15: Solid environmental performance
Solid environmental performance QLD and NSW operations consolidated since the QLD acquisition in April 2024 For personal use only Other FY25 progress Zero environmental enforcement action events New HSE Data Centre developed (EEAs)1 reported in FY25 continuing Integrated QLD and NSW monitoring &
Slide 16: Managing Director and CEO's Address
For personal use only Managing Director and CEO’s Address Paul Flynn Managing Director and CEO, Whitehaven 7
Slide 17: Acquisition milestones achieved in line with or ahead of plan
Acquisition milestones achieved in line with or ahead of plan For personal use only JV with long-term customers Nippon Steel and JFE Steel, affirms mine’s strategic value US$1.08b proceeds received from 30% sale of Blackwater Successful integration with solid operational Blackwater gains being
Slide 18: Deferred payments and coal price contingent payments to BMA
Deferred payments and coal price contingent payments to BMA Deferred payments are well covered on the With softer coal prices since acquisition, contingent balance sheet payment structure has provided downside protection For personal use only Deferred payments, US$m Coal price contingent payments1,
Slide 19: Capital allocation framework – Refreshed in August 2025
Capital allocation framework – Refreshed in August 2025 Whitehaven's capital allocation framework has been refreshed to continue to deliver shareholder value Operating cashflows For personal use only 1 2 3 Deliver returns to shareholders Maintain and optimise operations Maintain balance sheet streng
Slide 20: Structural supply gaps expected for high CV thermal and metallurgical coking coal
Structural supply gaps are expected for both high CV thermal and metallurgical coking coal Global supply & demand: Global supply & demand: For personal use only seaborne high CV thermal coal (>5850 NCV)1 seaborne metallurgical coking coal2 M 400tonnes M 400tonnes 350 350 300 300 150Mt 250 250 61Mt 2
Slide 21: Progressing our development pipeline
Progressing our development pipeline Winchester South For personal use only • Approvals progressing • Winchester South and Daunia are adjacent mines offering synergy opportunities Vickery • All external approvals received • Early mining of Vickery commenced in FY24 ahead of full-scale development 12
Slide 22: Contributing to our communities – FY25 overview
Contributing to our communities – FY25 overview1 For personal use only 10.4% 21.7% 5:1 336ha of workforce identify female employees in our business ratio of land managed of land rehabilitated across as Indigenous compared to 22.7% in FY24 for biodiversity compared with NSW and QLD in FY25 land distu
Slide 23: We remain confident in our FY26 guidance ranges
We remain confident in our FY26 guidance ranges FY25 actual FY26 guidance Managed ROM Coal Production, Mt For personal use only GROUP 39.1 37.0 – 41.0 QLD 20.0 18.3 – 20.1 NSW 19.1 18.7 – 20.9 Managed Coal Sales1, Mt GROUP 30.2 29.5 – 33.0 QLD 15.8 14.6 – 16.1 NSW 14.4 14.9 – 16.9 Equity Coal Sales1
Slide 24: Significantly improved shareholder value per share
Significantly improved shareholder value per share Whitehaven’s sales tonnes per share have grown by 2.5x and EBITDA per share has grown >3x Equity sales (tonnes) / share1 EBITDA3 ($) / share For personal use only Post acquisition Post acquisition Pre-acquisition (higher margin tonnes) Pre-acquisiti
Slide 25: Thank you
For personal use only Thank you 16