Presentation on New Hope and Malabar to Combine

• New Hope and Malabar to combine through a court-approved scheme of arrangement
• Malabar shareholders to receive 0.500 New Hope shares per Malabar share
• Transaction expected to complete in February/March 2027

New Hope Corporation Ltd and Malabar Resources Limited have announced a proposed merger through a court-approved scheme of arrangement. Malabar shareholders will receive 0.500 New Hope shares per Malabar share, currently valued at $2.92 per Malabar share, resulting in a total fully diluted transaction equity value for Malabar of $1.8 billion. The transaction is unanimously supported by the Boards of both companies, subject to certain conditions including shareholder approval, court approval, and regulatory approvals. The combined entity will be a leading ASX-listed producer of low-cost, high-quality coal with a diversified portfolio and enhanced global market exposure.