Whitehaven Coal (WHC) investor relations material

Executive summary

• Achieved record safety performance with TRIFR at 3.3, down from 4.6 in FY25, and no environmental enforcement actions in FY26.

• Managed ROM coal production reached 40.3Mt, with strong contributions from both QLD (20.1Mt) and NSW (20.2Mt), at the top end of guidance.

• Revenue totaled AUD 5.4 billion, with 57% from metallurgical coal and 43% from thermal coal.

• Underlying NPAT was AUD 227 million; statutory NPAT was AUD 385 million, reflecting AUD 158 million in post-tax non-recurring gains.

• Declared a fully franked dividend of AUD 0.06 per share and announced a buyback of up to AUD 47 million, with total FY26 capital returns of AUD 159 million split evenly between dividends and buy-backs.

Financial highlights

• Achieved average coal price of AUD 202/tonne, down 6% year-over-year due to softer market and adverse FX.

• Underlying EBITDA was AUD 1.25 billion, down from AUD 1.355 billion in FY25, mainly due to softer coal prices and FX movements.

• Unit cost reduced to AUD 132/tonne from AUD 139/tonne in FY25, driven by cost initiatives.

• EBITDA margin was 27%, with net cash inflow from operations at AUD 857 million.

• Net debt at 30 June 2026 was AUD 1.3 billion, with a gearing ratio of 18%.

Outlook and guidance

• FY27 managed ROM coal production guidance is 38–41 million tons, with managed coal sales guidance at 30.4–33 million tons and equity coal sales at 23.9–26 million tons.

• Unit cost guidance for FY27 is AUD 132–147/tonne, reflecting diesel price uncertainty and inflation.

• CapEx guidance for FY27 is AUD 390–490 million, with Narrabri refurbishment as a key driver.

• Focus remains on safety, cost discipline, operational reliability, and productivity improvements, with upside from rail contract renegotiations.

• Met coal and thermal coal prices have strengthened at the start of FY27, but market volatility persists.