Dalrymple Bay Infrastructure (DBI) investor relations material

Business and contract model

• Dalrymple Bay Terminal is the largest global metallurgical coal export facility by contracted volume and handled 14% of 2025 global seaborne metallurgical coal exports.

• The terminal’s 84.2Mtpa capacity is fully contracted on 100% take-or-pay terms to June 2028, with evergreen renewal options for customers.

• Terminal Infrastructure Charge (TIC) is $4.02/t from 1 July 2026, versus $3.72/t in the prior year; the charge applies to every contracted tonne.

• Pricing arrangements run to 2031; Base TIC escalates with inflation, NECAP investment supports additional returns, and operating and maintenance costs are passed through to customers.

H1-26 performance

• Revenue was $433.3m, versus $395.4m in H1-25; EBITDA was $150.5m, up 4.7% YoY, with a 95% non-statutory EBITDA margin.

• FFO was $92.7m, up 10.2% YoY; H1-26 distributions were 13.5cps, up 14.9% YoY.

• Net interest costs were $51.1m, down 1.2% YoY, despite increased debt funding of NECAP; refinancing completed in Dec-25 supported the outcome.

• Capital expenditure was $93.6m in H1-26, versus $57.5m in H1-25, reflecting progress on major asset replacements.

NECAP investment and TIC growth

• At 1 July 2026, $370.6m of projects underway remained to be added to the NECAP Asset Base; $97.8m, including $6.5m IDC, was added on that date.

• Approximately $300m of direct capex plus IDC is expected to enter the asset base on 1 July 2027, lifting the NECAP TIC component by an estimated $0.53/t versus TY-26/27.

• Every additional $0.10/t of TIC delivers approximately $8.5m of incremental annual revenue; all current NECAP works were recommended by the Operator and approved by customers.

• A $38.5m regular NECAP program, Series Z, was unanimously approved by customers on 13 July 2026.