Page 1

31 July 2026 COKAL T +61 2 8823 3177 E info@cokal.com.au Level 5 , 56 Pitt Street Sydney NSW 2000 ABN 55 082 541 437 ( ASX : CKA ) www.cokal.com.au QUARTERLY REPORT FOR THE TWELVE MONTHS ENDING 30 JUNE 2026 HIGHLIGHTS • Mining operations at the BBM Project recommenced following receipt of the 2026 RKAB approval and completion of operational restart activities . • • Approximately 10,200 tonnes of Low Vol Hard Coking Coal ( LVHCC ) were successfully exported to China . Hauling operations resumed , with coal stockpiled to support ongoing logistics and future shipments . The first controlled blast at Pit 3 was successfully completed , improving mining productivity and operational efficiency . Infrastructure upgrades continued at Batu Tuhup Jetty , including road improvements , the Bulk Loading Conveyor ( BLC ) project and installation of a 250 tph roller crusher . Progress continued on the all - weather haul road with additional Petrosea equipment mobilised to site . BBM submitted a revised RKAB application seeking approval for increased 2026 production . Underground mining permitting progressed with environmental and forestry approvals underway . Cokal Limited ( ASX : CKA ) ( " Cokal " or the " Company " ) is pleased to provide an update on its activities for the quarter ended 30th June 2026 . MARKET UPDATE - METALLURGICAL COAL Metallurgical coal market conditions remained challenging during the June Quarter , with pricing continuing to be impacted by subdued global steel demand , cautious procurement by Chinese steel mills and substantial increases in freight costs and vessel availability . Market sentiment was further affected by heightened geopolitical tensions in the Middle East , which contributed to increased uncertainty across global commodity markets . While demand from China remained relatively subdued , India continued to demonstrate resilient steel production and import demand , providing some support to the seaborne metallurgical coal market . Against this market backdrop , the Company successfully completed its first export shipment to China following the recommencement of mining operations and continues to pursue additional domestic and export sales opportunities . Page 1 of 12 COKAL