• New A$300m convertible notes offering with 4-year put option
• Concurrent repurchase of up to 100% of existing 2029 convertible notes
• New notes may be cash-settled, providing flexibility to manage dilution

New Hope Corporation Limited (ASX: NHC) has announced the launch of an offering of A$300 million of senior unsecured convertible notes due 2032 (New Notes). The Offering will allow New Hope to fund a concurrent repurchase of up to 100% of its existing A$300 million senior unsecured convertible notes due 2029 (Existing Notes). The balance will be used to fund any future redemption or repurchase of any remaining Existing Notes and for general corporate purposes. The New Notes will have a 4-year put option on 22 April 2030, while the Existing Notes have a put option on 12 July 2027. Importantly, New Hope may satisfy the conversion value of the New Notes in cash or by the issue of fully paid ordinary shares, providing the company with flexibility to manage any future dilution. New Hope is undertaking a reverse book-build process to repurchase the Existing Notes, with the repurchase amount and price to be determined by this process. If the Concurrent Repurchase results in the repurchase and cancellation of more than 85% of the Existing Notes, New Hope intends to exercise its right to redeem the remaining Existing Notes.The company's production and cost performance is currently tracking well within its published guidance range for FY26, despite the impacts of conflict in the Middle East on global energy markets.