New Hope and Malabar to combine

• New Hope to acquire all Malabar shares in a scheme of arrangement
• Malabar shareholders to receive 0.500 New Hope shares per Malabar share
• Combined group to have pro forma market capitalisation of ~$6.3 billion

New Hope Corporation Limited (ASX: NHC) and Malabar Resources Limited have entered into a binding Scheme Implementation Deed to combine through a scheme of arrangement. New Hope will acquire all Malabar shares it does not own, with Malabar shareholders receiving 0.500 New Hope shares for each Malabar share. The transaction values Malabar at approximately $1.8 billion and is expected to be completed by March 2027, pending approvals. The combined entity will have a pro forma market capitalisation of around $6.3 billion and is expected to produce up to 19Mtpa of saleable coal.

Combined group expected to achieve up to 19Mtpa of saleable production by March 2027

The combination is expected to enhance production, growth opportunities, and create synergies, solidifying New Hope's position as a leading low-cost coal producer.