Q3 2025 Whitehaven Coal Ltd Production Volume Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Jonathan Sharp - CLSA - Analyst : Congratulations on, the good result, given all the weather impact you had. Just the first question, on costs and, with the prices down where they are, getting the cost out is going to be key, and it seems like Queensland's going quite well. So I'm more interested in New South Wales, just how much focus is in getting costs out of New South Wales, Yeah, how concerned are you with that? And if you could just comment on that for my first question, thanks.

Question: Jonathan Sharp - CLSA - Analyst : Okay, great. That's a good insight. And just, a question just on the Narrabri Longwall move, it's been pushed back slightly. I know you're still scheduling, 8-week long haul move, and I believe you previously said that there was about 80 supports coming out to the surface, for more maintenance. I know it can get a little bit tricky. When, long-haul moves get pushed out just with scheduling that maintenance. Has anything changed there with the support maintenance? Yeah, are you still looking at doing the same amount? Are they all still coming out? Just, yeah, some comments on that, please.

Question: Daniel Roden - Jefferies - Analyst : Good day. Thanks Paul and Kevin for taking my question. And I was, just wanted to, I guess just get some more color on, maybe some ongoing weather impacts at some of the operations, like, I guess specifically Blackwater, are you seeing, blasted inventory levels, I know the comments, so it's still a focus, but just maybe, you're seeing blasted inventory levels, it's still a healthy, points, or, has it backtracked a little bit, is that going to still be, a bit of a grind over the next few quarters?

Question: Daniel Roden - Jefferies - Analyst : Mm Yeah, okay. And I might actually ask, partially follow up, but, more just on the marketing side of things, like you're seeing, I guess, New South Wales and Queensland, volumes and access to labor, like you are you seeing any changes on that front that are, making, your, I guess, operations and, ability to access, resources more competitive?

Question: Daniel Roden - Jefferies - Analyst : I might stick one more in, just maybe for Kevin, just on the balance sheet, just, you're able to provide a bit of commentary, I guess, on the, what, or just a reminder on what the one-off underlying, payments, were in the quarter. So obviously we've got the 1.08 billion of proceeds, there's a $9.3 million buyback. Dividends, fees on consideration stamp duty payments, in January. Can you just give us a reminder on those one-offs.

Question: Daniel Roden - Jefferies - Analyst : Yeah, perfect. Thanks, guys. I appreciate your answers.

Question: Rob Stein - Macquarie Securities - Analyst : Hi, Paul and Kevin, thanks for the opportunity. Just asking a question on, the Queensland thermal coal mix, notably up to 5%. Just a quick one. Is that due to, optimization issues at the mine? Is it due to wet weather impacts and contingent planning, or is it something that it, is it something that we're going to continue to expect to see, or is it just a one-off? Thank you.

Question: Rob Stein - Macquarie Securities - Analyst : Okay, perfect. And, that was it for now. Thank you.

Question: Paul Young - Goldman Sachs - Analyst : Next morning, Paul. Morning, Kevin. I hope you're both well. Paul, a question on capping and just broader sort of budgeting in light of, the fact that coal prices have come down a fair way. They're still pretty good though, but costs across the industry have, obviously stepped up, but we're seeing some tail winds and costs now, but, as far as, just planning for uncertainty and potentially, lower coal price environment going forward, what flexibility. Do you have on cost, but particularly CapEx? I know you're tracking at the bottom end of the of the guidance range for this fiscal year, and I know you're rephasing, Narrabri expansion to use the current long we'll see a couple of examples there, but just going forward, if things get a little bit tougher and Metco, does drop, further, considering the supply is sticky as always is in down cycles, and, I'd expect all the Queensland operators, including yourselves to. Put the hammer down or push volumes harder in in the over the dry months, what flexibility do you have on on CapEx, whether it be existing projects or or looking at project studies and growth, thanks. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 29, 2025 / 12:30AM, WHC.AX - Q3 2025 Whitehaven Coal Ltd Production Volume Call

Question: Paul Young - Goldman Sachs - Analyst : Yeah, understood, Paul. And then, maybe just on waste stripping, I know you, you're well positioned on the cost curve, across both your thermal assets and and me mecal assets or maybe the margin curve is a better way of looking at it. So is there any, is there any, sort of re re jigging your mind plans internally? You guys don't have to do that, I guess that's the point I'm saying, but is there any sort of, any thought around, potentially high grading or or changing the mind plan to maximize cash flow, or you think you can just plow through on the current, the current plan as it is, based on your position on the cost curve?

Question: Paul Young - Goldman Sachs - Analyst : Yeah, okay, thanks Paul. Thanks, Kevin. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 29, 2025 / 12:30AM, WHC.AX - Q3 2025 Whitehaven Coal Ltd Production Volume Call