Ann: Notice of interest, page-5

Some of the dates on these articles are somewhat old and not relevant. But there has been interest, particularly from the Indians to secure long term supply through acquisition of miners... A simple google search supports the narrative that Whitehaven could spin off a small stake, and the particular interest in the current Teck coal business stake shows that the steel mills are certainly coming to the negotiating table...

Time will tell what happens here... I am on the long side of this position, so reduced dividends CY23-25 are of no concern for me, the new Whitehaven is diversified and simply put twice as large. Come 2025 will be a net cash machine, if not sooner, with a potential stake going to a steel mill.

And to think Whitehaven would have been throwing US$2-3.5B at Winchester South... with a very difficult path to market for a greenfield mine and a cargo assembly port that has 100% capacity purchased, with majors that hold port capacity unlikely to part ways with it... The greenfield opportunity for WHC had some logistics and path to market hairs on it, that might I add, are now gone or at least considerably more manageable.