Yancoal Australia (YAL) AGM 2025 summary

Opening remarks and agenda

• The meeting opened with an acknowledgment of traditional land custodians and a welcome to shareholders, staff, and interested parties, marking the company's 20th anniversary.

• AGM chaired by Gregory Fletcher, Co-Vice Chairman and Independent Non-Executive Director, with Ning Yue as Acting CEO and Co-Vice Chairman.

• A quorum was confirmed, and directors and key executives were introduced, including updates on recent board appointments and the ongoing CEO transition process.

• Meeting agenda included financial statements, director elections, remuneration report, auditor reappointment, equity incentives, and share mandates.

• Shareholders were encouraged to participate via webcast, with provisions for real-time questions and smooth meeting proceedings.

Financial performance review

• Achieved 36.9 million tonnes of attributable production in 2024, a 10% increase over 2023, with a realized coal price of AUD 176/tonne.

• Revenue reached AUD 6.9 billion and operating EBITDA was AUD 2.6 billion, with a 37% margin.

• Profit after tax was AUD 1.22 billion, with $0.92 earnings per share, and ended 2024 with nearly AUD 2.46 billion in cash and no interest-bearing debt.

• 62.7Mt ROM production and 47.8Mt saleable production (100%).

• Average realised price was $176/tonne; cash operating cost $93/tonne.

Board and executive committee updates

• Four new directors were nominated for election, with biographical details provided in the meeting notes.

• Ning Yue served as Acting CEO and Chair of the Executive Committee.

• Gregory Fletcher chaired the AGM and Audit and Risk Management Committee.

• The CEO transition process is ongoing, with updates to be provided when available.

• Peter Smith chaired the Health, Safety, Environment and Community Committee.