Geo Energy Resources (RE4) investor relations material

Executive summary

• Delivered 3.6 million tonnes of coal in 1H2026; revenue fell 28% YoY to US$207.1 million and net profit declined 22% to US$15.6 million.

• MBJ Integrated Infrastructure began operations in July, supporting the planned 2H production ramp-up and longer-term TRA growth.

Financial highlights

• Revenue was US$207.1 million, down 28% YoY; gross profit was US$39.0 million, down 13%, and profit before tax was US$19.9 million, down 31%.

• Net profit was US$15.6 million versus US$20.1 million in 1H2025; income tax expense was US$4.3 million versus US$8.7 million, with an effective tax rate of 22% versus 30%.

• Cash and bank balances were US$59.1 million at 30 June, including US$30.8 million in cash and cash equivalents, and rose to US$71 million by 5 August.

• Net cash used in operating activities was US$16.0 million; investing activities used US$78.6 million, while financing activities generated US$23.7 million.

Outlook and guidance

• FY2026 coal sales target remains 11.5–12.5 million tonnes, with 2H sales expected to reach approximately 8 million tonnes versus 3.6 million tonnes in 1H.

• TRA production is expected to ramp up significantly in 2H; MBJ is expected to enable TRA production of 20–25 million tonnes per annum, with a 25-million-tonne annual production target within the next few years.

• MBJ targets full throughput of 50 million tonnes per annum; potential EBITDA uplift is up to US$600 million at that throughput, while TRA cost savings could add up to US$350 million annually.

• A final dividend will be assessed after year-end based on FY2026 performance.