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HALF YEAR RESULTS FY21 17 February 2021 WHITEHAVEN LOWER COAL PRICES IMPACT EARNINGS WHITEHAVEN COAL SAFETY PERFORMANCE The safety outcome for the Group for the 12 months ending 31 December 2020 was a total recordable injury frequency rate ( TRIFR ) of 5.41 . The Group TRIFR remains well below the New South Wales ( NSW ) coal mining average of 12.79 . The Company is committed to achieving zero harm to its people and environment , and management is striving for better safety performance across all operations . No known cases of COVID - 19 at any of our sites to date and operations remain largely unaffected but for distancing and hygiene measures . FINANCIAL HIGHLIGHTS • EBITDA of $ 37.2m , down 79 % on prior comparative period ( pcp ) , reflecting a lower average achieved coal price for H1 FY21 of A $ 80 / t vs H1 FY2020 A $ 108 / t Net loss after tax of $ 94.5m , compared to a net profit after tax of $ 27.4m in the first half of FY20 . Cash generated from operations of $ 54.9m , a decrease of 55 % • Unit costs decreased 8 % to A $ 70 / t , versus pcp of A $ 76 / t • H1 FY21 earnings loss is due to the softening of coal prices , partially offset by an increase in sales volumes and a decrease in costs Comments from the MD and CEO Paul Flynn " The impacts of subdued pricing on seaborne coal markets were a key feature of H1 results as COVID - 19 impacts on economic and industrial activity continued to be felt . " " The business responded strongly to these challenging market conditions , including through improvement measures that delivered meaningful cost reductions and greater operational efficiency , offsetting price headwinds to some extent . " " We have closed out H1 FY21 with strong levels of liquidity , strong banking support and we are focused on retiring debt against the backdrop of the improving price environment . " " With future savings targets identified and coal markets rebalancing in response to demand signals we are optimistic about achieving stronger outcomes through the second half . • $ 411.8m of available liquidity • Net debt of $ 823.1m as at 31 December 2020 • Due to the adverse impact of the significant contraction in coal prices has had on earnings for the period , the Board has determined an interim dividend will not be declared Results summary H1 FY21 H1 FY20 % change Revenue ( $ m ) 699.3 885.1 ( 21 % ) EBITDA ( $ m ) Net ( loss ) / profit after tax ( $ m ) 37.2 177.3 ( 79 % ) ( 94.5 ) 27.4 n / a Cash generated from operations ( $ m ) Unit cost per tonne ( $ / t ) Net debt ( $ m ) 54.9 122.3 ( 55 % ) 70 76 ( 8 % ) 31 Dec 2020 30 Jun 2020 823.1 787.5 Gearing ( % ) 21 % 20 % Whitehaven Coal Limited ABN 68 124 425 396 Level 28 , 259 George Street , Sydney NSW 2000 | 02 8222 1100 | info@whitehavencoal.com.au | www.whitehavencoal.com.au