Coronado Global Resources Inc. · ASX:CRN
Coronado Global Resources — Debt Investor Presentation (October 2025)
38 slides from Coronado Global Resources's debt investor presentation, Oct 27, 2025
Slide 1: Ad Hoc Group Investor Presentation
Ad Hoc Group Investor Presentation Douglas Thompson CEO Barrie Van der Merwe CFO September 2025
Slide 2: Important Notices and Disclaimer
2 Important Notices and Disclaimer You acknowledge that neither Coronado Global Resources Inc. (“Coronado”) nor any of its subsidiaries (the "Relevant Parties") shall have any liability to you or any other person for furnishing this presentation and the information contained herein (the “Presentatio
Slide 3: Important Notices and Disclaimer (Cont'd)
3 Important Notices and Disclaimer (Cont’d) All statements in this Presentation, other than statements of historical facts, that address estimated mineral resource and reserve quantities, grades and contained metal, and possible future mining, exploration and development activities, are forward-look
Slide 4: Table of Contents
4 Table of Contents 1 Executive Summary 5 2 Company Overview 7 3 Financial Performance 18 4 Appendix 22
Slide 5: Executive Summary
5 ➢ Coronado Global Resources (“Coronado” or the “Company”) is a leading global producer of a full range of metallurgical coals, headquartered in Brisbane, Australia ➢ The Company (ASX: CRN) has a market capitalization of USD $398 million(1) ➢ Coronado’s investment case is strong and differentiated:
Slide 6: Investment Highlights
6 Investment Highlights Operates in two of the world’s largest and most productive metallurgical coal basins in Tier 1 jurisdictions (U.S. and 2 Australia) 4 Strong financial track record with meaningful through-the-cycle earnings potential Clear pathway to earnings and cash flow uplift via complete
Slide 7: Company Overview
7 Company Overview
Slide 8: Overview of Coronado Global Resources
8 Overview of Coronado Global Resources We are a producer of metallurgical coal with large assets in the U.S. and Australia • Coronado was founded in August 2011 • Listed on the ASX (ASX:CRN) in 2018 • US-incorporated company with SEC reporting obligations • Large assets in the U.S. and Australia •
Slide 9: High Quality, Long-Life Seaborne Met Coal Producer
9 High Quality, Long-Life Seaborne Met Coal Producer Recent investments paying off, future options & significant economic contributor • Large metallurgical coal assets in Tier 1 jurisdictions (U.S. and Australia) • Meaningful cash generation through-the-cycle, with ~$1.4 billion in cumulative cash f
Slide 10: Geographically Diverse Customer Base
10 Europe Japan India Brazil USA China Geographically Diverse Customer Base With long standing customer relationships in Japan, India, Brazil, and Europe Region Mines Coal Product Type Primary Customers AU Curragh Complex (QLD) + Mammoth Low & mid-vol met coal Asian steelmakers (Japan, India, Korea)
Slide 11: Health and Safety across Australian and US Operations
11 Health and Safety across Australian and US Operations Our People, Our Highest Priority 11 Paramedic training at Curragh Complex Australian Operations (TRIFR) US Operations (TRIR) 0 2 4 6 8 10 Jan-21 Jul-21 Jan-22 Jul-22 Jan-23 Jul-23 Jan-24 Jul-24 Jan-25 Jul-25 -68% Australian Operations Industry
Slide 12: U.S. and Australia Operations – Employee Overview
12 U.S. and Australia Operations – Employee Overview Key Stats • As of December 31, 2024, Coronado had 1,951 employees globally and an additional 1,790 contractors supplementing the permanent workforce, primarily at Curragh • Approximately 10.1% of employees, all at the Australian operations, were c
Slide 13: Our Growth Projects are Complete and Delivering Increased Tonnes
13 Our Growth Projects are Complete and Delivering Increased Tonnes Mammoth Underground and Buchanan Expansion projects expected to deliver ~3 Mmtpa of incremental Met Coal to seaborne markets once at full capacity Mammoth Underground Buchanan Expansion ▪ Delivered first coal in December 2024 on tim
Slide 14: United States Operations
14 Logan Location: Southern West Virginia Year opened: Operating since 2005; Acquired in 2014 Reserves (ROM) and Resources (2024): 99Mmt and 234Mmt United States Operations Notes: Resources are shown inclusive of Reserves; Reserves and Resources are prepared in accordance with JORC 2012. (1) For the
Slide 15: Australian Operations
15 Location: Bowen Basin, Central Queensland Year opened: Operating since 1983; Acquired in 2018 Reserves (ROM) and Resources (2024): 275Mmt and 924Mmt Australian Operations Notes: Resources are shown inclusive of Reserves; Reserves and Resources are prepared in accordance with JORC 2012. (1) Implie
Slide 16: High Quality Assets with Optionality
16 High Quality Assets with Optionality Further growth potential actively pursued for Mammoth Phase 2 & 3 and Buchanan Capacity for additional saleable tonnages by increased processing capacity. Buchanan Capacity Increase - Russell County - Mon Valley - X pit, D Pit, F Pit (Curragh Complex) Targeted
Slide 17: Stanwell Arrangements Impact Summary
17 Stanwell Arrangements Impact Summary 92 184 47 107 50 65 70 85 80 $139 $291 $200 $150 H2 2025 2026 2027-2031 2032-2037 Stanwell Rebate 2025 Transaction Amortization (Incl. Interest) (4) Lost Revenue (CSA) (1)(2) NCSA – SRA Amortization (Incl. Interest) Lost Revenue (NCSA) (1)(3) ($US millions) Ca
Slide 18: Financial Performance
Financial Performance Seronado
Slide 19: Historical Financials
19 Historical Financials Source: Company filings. Notes: Figures in US$ millions unless otherwise noted. (1) Totals are inclusive of Corporate items where applicable. Saleable Production (Mmt) Segment Revenue 9.8 10.0 9.7 4.5 6.2 5.8 5.7 2.7 16.0 15.8 15.3 7.2 2022 2023 2024 H1 2025 $2,117 $1,682 $1
Slide 20: Medium Term Production and Capex Ranges
20 Medium Term Production and Capex Ranges Medium Term Range Production: 17.0 – 20.0 Mt Medium Term Range Sustaining Capex: $140 – $170 million(1) Production volumes expected to ramp from 2026+, reaching the higher end of the range driven by start-up of development projects: — Expansion projects (Ma
Slide 21: Investment Highlights
21 Investment Highlights Operates in two of the world’s largest and most productive metallurgical coal basins in Tier 1 jurisdictions (U.S. and 2 Australia) 4 Strong financial track record with meaningful through-the-cycle earnings potential Clear pathway to earnings and cash flow uplift via complet
Slide 22: Appendix
22 Appendix
Slide 23: Buchanan Key Highlights Snapshot
23 Key highlights Snapshot One of the lowest operating cost, Low-Vol mines in the US as measured by cash cost per tonne One of the largest metallurgical coal producing mines in US region, accounting for ~64% of Coronado's US production in 2024 Extensive metallurgical coal Reserves to supply domestic
Slide 24: Logan Snapshot
24 Snapshot Location Boone, Logan and Wyoming Counties in southern West Virginia, within the CAPP geological province. Covers a 104 km2 area Ownership holdings 100% Coronado(1), Pardee/Penn Va Lease, KYMAC Lease, Ark Land Lease Year opened 2005 Year acquired 2014 ROM Reserves 99 MMt(2) 2024 producti
Slide 25: US Operations – Rail and Port Infrastructure
25 US Operations – Rail and Port Infrastructure Source: Company filings. Modes of transportation ▪ Transportation is done by shipping coal via rail or truck to several different ports – or directly to customers ▪ The CSX railway provides transportation to domestic customers and export steel customer
Slide 26: Australian Operations – Curragh Overview
26 Australian Operations – Curragh Overview Key highlights Location Bowen Basin in central Queensland Ownership of Curragh 100% Coronado Ownership of MDL 162 100% Coronado. MDL 162 is situated between and adjacent to the Curragh East Mining Area and Curragh North Mining Area Curragh Year opened 1983
Slide 27: Curragh Infrastructure and Equipment
27 Curragh Infrastructure and Equipment Curragh is a well-capitalised mine with substantial infrastructure and equipment Infrastructure Equipment Curragh Complex has four electric Draglines, one being amongst the largest electric Draglines in the world with 114m3 bucket 22km connecting Curragh North
Slide 28: Australian Operations – Rail and Port Infrastructure
28 Australian Operations – Rail and Port Infrastructure Strategically located with access to key transportation infrastructure Rail ▪ Curragh is linked to the Blackwater rail line of the Central Queensland Coal Network, an integrated coal haulage system owned and operated by the Aurizon Network ▪ Cu
Slide 29: Metallurgical Coal has a Long-Term Future
29 Geothermal Hydro Nuclear Bioenergy Electricity networks Concentrated solar Hydrogen Wind power Solar photovoltaic Electric vehicles Steel (Iron ore/met coal) Copper Aluminium Nickel Zinc Silicon Cobalt Graphite Manganese Silver Lithium Platinum Uranium Low to None High Source: McKinsey article “T
Slide 30: Steel is used in key global infrastructure
30 Notes: All statistics based on World Steel Association assumption of approximately 780 kilograms (kg) of met coal to make one tonne of steel. BOF = Blast Oxygen Furnace steel making; EAF = Electric Arc Furnace steel making. (1) Data sourced from https://www.goldengate.org/bridge/history-research/
Slide 31: Steel Production Today and in 2050
31 EAF / other steel production methods are expected to grow over time, but BOF production is expected to remain the primary method in 2050, particularly in Asia (63%), underpinning a need for high-quality met coal Annual global crude steel production is forecast to grow 20% to 2.2 billion metric to
Slide 32: Premium Low-Vol FOB Australian Hard Coking Index and forecast
32 Premium Low-Vol FOB Australian Hard Coking Index and broker consensus forecast (US$/t) Source: Wood Mackenzie and broker research. Notes: (1) Long term average real price of $259.69 per tonne reflects the historical Wood Mackenzie FOB Queensland HCC Benchmark market data between 2011 and 2025. Pr
Slide 33: Perspectives on Seaborne Thermal Market
33 Perspectives on Seaborne Thermal Market 90 95 100 105 110 115 120 Feb-25 Apr-25 Jun-25 Aug-25 Oct-25 Dec-25 Feb-26 Coal – Newcastle (ICE) Historical Pricing & Future Contracts Coal – Newcastle (ICE) Future Contracts Situation Overview Curragh produces ~3.2mm* tonnes of thermal coal per year Under
Slide 34: Organizational Structure
34 Organizational Structure Coronado Mgmt. Coronado Group LLC (Delaware LLC) ASX Investors Coronado Global Resources Inc.(1) (Delaware Corporation) Coronado Coal Corporation (Delaware Corp.) Coronado Australia HoldingsPty Ltd (Aust Pty Ltd) Coronado II LLC (Delaware LLC) Coronado Coal II LLC (Delawa
Slide 35: Reconciliation of Non-GAAP measures
1 Reconciliation of Non-GAAP measures This presentation discusses results of the Company’s operations and includes references to and analysis of certain non-GAAP measures, which are financial measures not recognized in accordance with U.S. GAAP. Non-GAAP financial measures are used by the Company an
Slide 36: Reconciliation of Non-GAAP measures
2 Reconciliation of Non-GAAP measures Caption: Curragh Complex
Slide 37: Reconciliation of Non-GAAP measures
3 Reconciliation of Non-GAAP measures Caption: Curragh Complex
Slide 38: Other Information
4 Other Information: The following information was also provided to the Ad Hoc Group during the discussions. These items are included for illustrative purposes only, cannot be relied upon and should not be considered guidance by Coronado. They also exclude any transactions currently contemplated by
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