• Managed ROM production of 9.2Mt, down 5% on previous quarter
• Total equity sales of 6.3Mt, down 20% on previous quarter
• On track to deliver $100 million in annualised cost savings by end of FY25

Whitehaven Coal Limited reported continued solid production and sales in the March quarter, including 4.5Mt of ROM production from its Queensland mines and 4.7Mt from its New South Wales mines, despite seasonal weather impacts on Queensland sales and slower than planned progress at Narrabri. Both Queensland and New South Wales production and sales volumes continue to track well on a year-to-date basis, and the company remains on course to deliver in the upper half of FY25 production and sales guidance, and at the low end of full year cost guidance range. Whitehaven is well placed to manage through the current uncertain pricing environment, with a focus on cost and margin management, and prudent allocation of capital to maintain the company's strong balance sheet. At the end of the quarter, Whitehaven received the US$1.08 billion of proceeds from the 30% sell down of Blackwater, and on 2 April 2025 it paid the first deferred US$500 million payment to BMA.

Whitehaven's FY25 guidance remains unchanged, with managed ROM coal production and coal sales expected to be firmly in the upper half of the guidance range of 35.0-39.5Mt and 28.0-31.5Mt, respectively. The unit cost of coal (excluding royalties) is expected to remain at the low end of the guidance range of A$140-A$155/t.

Over the longer-term, the expected structural shortfall in global metallurgical coal production, particularly the long-term depletion of HCC from Australian producers combined with increased seaborne demand from India, is anticipated to drive higher metallurgical coal prices. Whitehaven's metallurgical coal portfolio is expected to benefit from these supply constrained market dynamics. Long-term demand for seaborne high CV thermal coal together with a structural supply shortfall from underinvestment in new mines and depletion of existing supply, remains a driver for longer-term price support for high CV thermal coal.