Ann: Trading Halt, page-32

• a few delays due to production issues (weather, labor, pre-stripping) and processing bottlenecks (3rd party CHPP)
• production and sales will materially ramp up in the current quarter
• by March 23, our own CHPP will be operational
• record coking coal prices are holding up given global gas shortages / switching into thermal market, despite looming recession

Summary of various reports

Oct-Dec quarter

• expected sales of about A$100m
• expected maiden positive operating cashflow

Bluff

• production delays due to weather delays, labor shortages,new water pits (effectively pre stripping)
• steady-state operation (ROM 80-100ktpm) expected later inOct-Dec 22 quarter
• sales of 180kt Oct-Dec 22
• ULVPCI coal trading at over US$282 (Oct 10)

Broadmeadow East

• sales of 140kt in late Dec 22 (washing capacity set at 42kt/mth till Dec due to capacity constraints at 3rd party provider)
• to compensate, unwashed (bypass) coal will be sold into thermalmarket
• own Train Load Out facility available from Nov onwards
• crushing circuit of own CHPP expected to be recommissionedin the Oct-Dec 22 quarter
• own wash plant (2.5mtpa initial capacity) expected to berestarted in the Jan-Mar 23 quarter