Investor Presentaiton

(US$/ MT) 40 35 GSGA Average Cash Costs (2Q22 vs 1Q22) 30 27.5 25 20 15 10 5 0 2Q21 40.8 37.4 1Q22 Average Cash Costs include Royalty, Barging and SGA 2Q22 2Q22 Cash Costs of US$ 40.8/MT were higher than 1Q22 of US$ 37.4/MT due to: Full bonus paid in 2022 whilst only partial accrual in 1Q22. ■ ■ Higher royalty due to higher ASP than 1Q22. Higher unit costs of coal purchases due to significantly higher purchase price. Higher fuel prices despite higher hedging receipts than 1Q22. Partially offset by Lower barging cost due to higher sales volume. Lower DMO expense due to reversal of DMO accrual as quota at BT has been reached in 2Q22. 2Q22 cash costs were higher than 1Q22 levels 13

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