Whitehaven Coal (WHC) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with a Welcome to Country, acknowledgment of traditional landowners, and introductions of board members and auditors.

• Chairman and CEO addressed the meeting, highlighting strategic transformation and operational achievements over the past year.

• Voting procedures explained, with manual voting due to a Microsoft outage; all resolutions to be determined by poll.

Financial performance review

• Revenue for FY 2025 reached $5.8 billion, with 64% from metallurgical coal and 36% from thermal coal; underlying EBITDA was $1.4 billion and statutory NPAT was $649 million.

• Equity sales of produced coal rose 61% year-on-year, driven by the QLD acquisition and strong demand.

• Managed ROM production rose 60% to 39.1 million tonnes; cost management led to unit costs of AUD 139/tonne, outperforming guidance.

• Net debt at June 30, 2025, was $0.6 billion, with $1.2 billion cash on hand.

• Revenue split: $3.5 billion from QLD and $2.2 billion from NSW.

Board and executive committee updates

• Brendan Pearson joined the board in August 2025, bringing global trade and mining experience.

• Ray Sage retired after 12 years of service; succession planning for the Chair role is underway, with updates expected in 12–18 months.

• Board and management engaged in over 250 meetings with investors and stakeholders during FY 2025.