Investor Presentaiton

Early mining at Vickery - low risk, low capital Utilising surplus processing and supply chain capacity to deliver HCV thermal A low capex ($150m) project • Project announced April 2023 Works commenced in June 2023 quarter SCALE 250 500 1000 METRES 2000 • First coal expected around mid CY2024 A compelling opportunity with significant benefits · Low capital, low risk investment · 24 Brings replacement volumes from Gunnedah open cuts to market (~0.9-1.0 Mtpa of sales) Utilises surplus Gunnedah CHPP processing and road haulage capacity; and unallocated take-or-pay port and rail paths Brings revenue forward by bringing sought after <10% ash, 6400 kcal HCV thermal coal to market from FY2025 Early blending benefits with more significant portfolio benefits from full scale mining Opportunity to spread overhead costs across greater volumes (post Werris Creek) Opportunity to retain / re-deploy people following closure of Werris Creek Value accretive for shareholders VEP Early Mining Box Cut Pit Shell VEP Early Mining MIA VEP Main Project MIA Yellow area is a 20 year mine life VEP Main Project Pit Shell

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