• Achieved positive operational results in H1 FY26
• Underlying EBITDA increased 6% to $8.3 million
• Underlying profit before tax from continuing operations improved 76%

Mastermyne Group Limited, a leading provider of specialist capabilities and products in the underground coal mining sector, has reported positive operational results for the six months ended 31 December 2025 (H1 FY26). The company maintained its focus on elevating safety performance, which continues to deliver tangible results. H1 FY26 showed a return to growth after successfully managing the challenges in FY25, including production suspensions at Moranbah North and Grosvenor mines and the closure of Integra mine. This shift was underpinned by the full ramp-up of the company's new contract at Appin mine, together with increased activity across the majority of the projects portfolio. Mastermyne's H1 FY26 revenue from continuing operations of $108.9 million represented a decrease of $8.0 million compared to the prior comparable period, but was 12% higher than the $95.1 million reported in H2 FY25. Despite the lower revenue, underlying EBITDA from continuing operations of $8.3 million was an increase of $0.4 million on the prior comparable period and $2.4 million higher than the $5.9 million achieved in H2 FY25, representing a 41% increase. Underlying profit before tax from continuing operations for H1 FY26 of $6.0 million improved by 76% compared to the six months ended 31 December 2024. The company's robust capital position, with net cash of $33.1 million at 31 December 2025, enables it to explore growth and efficiency opportunities, both organic and through acquisition, while maintaining a disciplined approach.

The company expects the demand for metallurgical coal to remain strong for the foreseeable future, while recent developments suggest that demand for thermal coal will also persist for longer than previously anticipated. This dynamic will continue to underpin long-term demand for the company's services.

The near-term outlook has lifted in recent months with a significant recovery in metallurgical coal prices and new/recommencing longwall operations at a number of Australian coal mines increasing the volume of activity domestically. The company's confidence in the forward outlook is supported by a pipeline of identified opportunities valued at approximately $1.1 billion and its order book as at 31 December 2025 of $275 million.