Yancoal Australia (YAL) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional land custodians and recognition of Yancoal's 20th anniversary, highlighting its growth into a leading coal producer through acquisitions and expansions.

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

• Introduction of board members and executive team, noting recent board appointments and ongoing CEO transition process.

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

• Shareholders encouraged to participate via webcast, with provisions for real-time questions and dual-listing compliance.

Financial performance review

• Achieved 36.9 million tonnes of attributable production in 2024, a 10% increase over 2023, with strong production and cost control.

• 2024 revenue reached $6.86 billion with $2.58 billion operating EBITDA, representing a 37% margin.

• Profit after tax was $1.22 billion; ended the year with $2.46 billion in cash and no interest-bearing loans.

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

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

Board and executive committee updates

• Four directors nominated for election, including three non-executive and one independent non-executive director.

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

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

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

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