Yancoal Australia — company, asset and project record

This record covers the five Yancoal Australia annual reports for the financial years ended 31 December 2021, 2022, 2023, 2024 and 2025. Yancoal is listed on the ASX as YAL and on the Hong Kong Stock Exchange as 3668. Each FY label below refers to the year ended on 31 December, rather than to the calendar year in which a report was published.

The reports use three production lenses which are deliberately kept separate in this record:

• 100% mine basis: total output of a mine before applying Yancoal's economic interest.
• Attributable saleable production: ownership-weighted output of Yancoal's consolidated operations, generally excluding Middlemount.
• Equity basis: attributable output plus Yancoal's equity-accounted share of Middlemount where the report presents it.

The three measures are not substitutes. In particular, Middlemount must not be added both to attributable output and again as an equity-accounted contribution. Asset status, ownership and accounting treatment are reported as disclosed in the relevant FY; this record does not assume they remained unchanged in other years.

Section sources. Yancoal Australia FY2021 Annual Report, “Management Discussion and Analysis”; Yancoal Australia FY2022 Annual Report, “Management Discussion and Analysis”; Yancoal Australia FY2023 Annual Report, “Management Discussion and Analysis”; Yancoal Australia FY2024 Annual Report, “Management Discussion and Analysis”; Yancoal Australia FY2025 Full Year Financial Report, “Management Discussion and Analysis”.

The annual reports describe an Australian portfolio of thermal, semi-soft coking, PCI and mid/high-ash thermal coal products. Cameby Downs and Premier are discussed because Yancoal manages them, but their production, reserves, emissions and revenue are not included in this record as Yancoal-owned or attributable unless a report expressly gives that basis.

Section sources. Yancoal Australia FY2021 Annual Report, “Business Overview”, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2022 Annual Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2023 Annual Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2024 Annual Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2025 Full Year Financial Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”.

Group production and sales record

n/r means this integrated section has not normalised a different source presentation into a comparable number. The company describes certain price, volume, cost and production drivers in its MD&A; those remain company explanations, not independent causal conclusions by MII.

Section sources. Yancoal Australia FY2021 Annual Report, “Management Discussion and Analysis”; Yancoal Australia FY2022 Annual Report, “Management Discussion and Analysis”; Yancoal Australia FY2023 Annual Report, “Management Discussion and Analysis”; Yancoal Australia FY2024 Annual Report, “Management Discussion and Analysis”; Yancoal Australia FY2025 Full Year Financial Report, “Management Discussion and Analysis”.

Moolarben is reported as a NSW thermal-coal operation with separate open-cut and underground components. Yancoal's combined interest was 95% through FY2024. Legal completion of the additional 3.75% purchase occurred on 3 October 2025, taking the interest to 98.75%; financial consolidation of the increase began from that completion date and the report identifies 0.2Mt of FY2025 attributable contribution from it. The transaction separately had an effective economic-interest date of 1 January 2025, with a purchase-price adjustment for 1 January–3 October; those legal, accounting and economic dates are not interchangeable or back-applied to earlier years.

In FY2021, the company reported an unknown hard-rock intrusion in a known dyke that suspended underground longwall operations for eleven weeks while drilling and blasting enabled the longwall to pass it. It estimated 1.2Mt of equity-basis ROM was lost. The FY2021 report also reported weather impacts on open-cut activity. FY2025 attributed the ROM increase relative to FY2024 to improved underground conditions after poor strata encountered at times in FY2024; it described open-cut output as effectively at the 16Mtpa consent limit.

The FY2021 annual report recorded approval to increase open-cut annual ROM from 14Mtpa to 16Mtpa, conditional in implementation on greater coal-handling-and-preparation-plant capacity and a company investment decision. By FY2025, the report described the open cut as at its effective consent limit; this is not a statement that further expansion was approved. The records describe continuing study/assessment of underground work, without representing an unapproved development as built or operating.

Moolarben project/status record

Section sources. Yancoal Australia FY2021 Annual Report, “Business Overview”, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2022 Annual Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2023 Annual Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2024 Annual Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2025 Full Year Financial Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”.

MTW is a NSW open-cut complex producing semi-soft coking and thermal coal. The source technical statements distinguish Mount Thorley and Warkworth rather than treating them as a single resource estimate. Interest percentages vary by source table: the portfolio presentation may round to 83%, while technical tables separately show Mount Thorley at 80% and Warkworth at about 84.47%. This record retains the distinction.

FY2021 reported lower ROM and saleable production than FY2020, attributed to wet-weather mine scheduling and lower bypass coal. FY2025 reported output recovery from wet weather and schedule changes, with higher CHPP feed supported by managed feed stockpiles. These are the company's recorded explanations for those annual movements.

In FY2025, the company kept the underground concept at a preliminary study stage and said the next feasibility work was expected to begin in the first quarter of 2026. Any later development was described as a possible way to lengthen the production profile without raising annual output limits. No construction approval, investment decision or production forecast was reported.

Section sources. Yancoal Australia FY2021 Annual Report, “Business Overview”, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2022 Annual Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2023 Annual Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2024 Annual Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2025 Full Year Financial Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”.

HVO is a NSW open-cut operation producing semi-soft coking and thermal coal. It is reported with a 51% economic interest and as a Hunter Valley Joint Venture operation. The relevant production tables present 100%-basis mine output; ownership weighting must be separately labelled.

FY2021 output was described as affected by a planned reduction responding to the 2020 market and by wet weather. FY2025 attributed the increase to fewer drill-and-blast/equipment constraints and full-year operation of the second Howick CHPP; lower bypass volumes moderated saleable-production growth.

HVO continuation project: approval status must remain specific

The FY2024 report described a proposed material extension and an 18-month continuity application under assessment. In August 2025, the HVO JV lodged a revised project report with NSW DPHI. The FY2025 report states that NSW and Australian federal approvals remained required and that long-term approval was not guaranteed. It records approval of an interim extension to 31 December 2026. The interim extension is not a long-term approval and the record does not claim consent through FY2045 or FY2050.

Section sources. Yancoal Australia FY2021 Annual Report, “Business Overview”, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2022 Annual Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2023 Annual Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2024 Annual Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2025 Full Year Financial Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”.

Yarrabee

Yarrabee is a wholly owned, Yancoal-operated truck-and-shovel open-cut operation reported as producing ultra-low-volatility PCI coal and thermal coal.

The reports show lower output in FY2022 and FY2023, then higher output in FY2024 and FY2025. The FY2025 resource statement shows 275Mt Coal Resources compared with 123Mt in FY2024 while reporting 70Mt recoverable and 52Mt marketable reserves. The tables establish those estimate changes but the cited technical tables do not provide a single cause; none is inferred here.

Middlemount

Middlemount is a Queensland truck-and-shovel open-cut mine. Gloucester (SPV) Pty Ltd holds a 49.9997% interest in the incorporated Middlemount Coal Pty Ltd joint venture; the investment is equity accounted. Its 100%-basis mine tonnes and Yancoal's equity-basis contribution are therefore not consolidated production measures.

The reports also identify a 4% royalty on 100% of Middlemount free-on-board trimmed sales. Royalty revenue was reported as A$28m in FY2021, A$53m in FY2022, A$27m in FY2023, A$26m in FY2024 and A$25m in FY2025. The FY2022 report says Middlemount repaid its A$212m shareholder loan in full. Those investment, royalty and equity-accounted-result disclosures must not be substituted for mine revenue.

Section sources. Yancoal Australia FY2021 Annual Report, “Business Overview”, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2022 Annual Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2023 Annual Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2024 Annual Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2025 Full Year Financial Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”.

Ashton and Watagan nomenclature

Ashton is an underground NSW mine presented as a semi-soft coking/thermal operation. The annual resource tables also use Watagan/RUMEx naming. The names must not be silently treated as identical operating outputs. Saleable production was 1.2Mt in FY2021, 0.9Mt in FY2022, approximately 0.4Mt in FY2023, 1.3Mt in FY2024 and 0.5Mt in FY2025 on the reported 100%-basis production tables. The FY2025 resource statement lists Ashton 160Mt and Ashton RUMEx 30Mt Coal Resources; FY2025 marketable reserve rows list 10Mt for RUMEx and nil for Ashton underground.

Austar: closure and investigation status

The FY2021 report says Bellbird South mining had been completed in February 2020 and Austar was on care and maintenance because there was no immediate economically viable mine plan. Board-approved closure activity was then expected to take five to ten years; that historic planning range is not used as a current forecast. FY2022 disclosed a memorandum of understanding with Green Gravity to study whether former ventilation shafts could support kinetic-energy storage. It was a study, not an approved or constructed energy project.

FY2023 reported sealed shafts and ceased ventilation as closure work. FY2024 reported a contractor fatality during closure operations in September and said the NSW Resources Regulator investigation was ongoing. FY2025 continued to state that the investigation was ongoing. The annual reports do not supply a cause, liability finding or conclusion, and none is stated here.

Stratford-Duralie and Gloucester: production run-off and closure

FY2022 disclosed a A$30m Duralie rehabilitation-provision increase based on preliminary closure work. This is a provision movement, not a total closure cost. The reports describe a possible Stratford Renewable Energy Hub involving pumped hydro and solar: feasibility began in FY2022; later reports state that feasibility, permits, internal/external approvals and other conditions remained necessary. FY2024 records Critical State Significant Infrastructure status and a development application/EIS lodged in Q3 2024. FY2025 continues to describe approval risk and possible sunk costs if it does not proceed. The record does not call it built, approved for construction or operating.

The technical table trail shows Gloucester 100%-basis Coal Resources of 313Mt in FY2021/FY2022, 229Mt in FY2023, and 0 in FY2024; it was not separately tabulated in the FY2025 table inspected. A missing row is not restated as a legal, title, exhaustion or rehabilitation conclusion.

Donaldson and Monash

Donaldson remained on care and maintenance from FY2021 through FY2024. The reports record a A$100m exploration-asset impairment in FY2021 and A$171m operating-asset impairment in FY2022; those are accounting judgements, not an assertion that tenure or obligations ended. FY2025 records completion of a December sale and a A$22m non-cash gain arising from derecognition of rehabilitation provision and lease liabilities, partly offset by disposal of specified property and ancillary Ashton properties.

FY2021's technical statement listed Monash (UG) with 97Mt Coal Resources on a 100% basis. FY2022 recorded a A$144m exploration-asset impairment to nil and said future development was considered unlikely. Later resource tables did not separately present Monash; non-presentation is not converted into a zero-resource or title-status conclusion.

Cameby Downs and Premier Coal: managed-asset boundary

Yancoal describes operating Cameby Downs and Premier Coal for its majority shareholder. FY2025 states that they are outside its sustainability-report boundary because the owning entities are not controlled by Yancoal. This integration therefore does not add their output, resources, reserves, revenue or emissions to Yancoal's attributable portfolio. The FY2025 report did disclose a Premier framework guarantee with A$35m annual cap and approximately A$29.7m maximum daily outstanding principal plus fees; this is a support-arrangement disclosure, not ownership transfer.

Section sources. Yancoal Australia FY2021 Annual Report, “Business Overview”, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2022 Annual Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2023 Annual Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2024 Annual Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2025 Full Year Financial Report, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”.

The reports say products are exported through Newcastle, Gladstone and Dalrymple Bay to Asia-Pacific customers. They do not support an asset-by-asset mine-to-terminal allocation in this record. FY2025 describes low-ash thermal product as generally GCNewc-indexed, higher-ash thermal product generally API5-indexed, certain thermal contracts referenced to Japanese Power Utility Reference Price, and metallurgical term/spot mechanisms linked to stated quarterly or Platts benchmarks. These are reported pricing mechanics, not price forecasts.

Section sources. Yancoal Australia FY2021 Annual Report, “Management Discussion and Analysis”; Yancoal Australia FY2022 Annual Report, “Management Discussion and Analysis”; Yancoal Australia FY2023 Annual Report, “Management Discussion and Analysis”; Yancoal Australia FY2024 Annual Report, “Management Discussion and Analysis”; Yancoal Australia FY2025 Full Year Financial Report, “Management Discussion and Analysis”.

The company-wide improvement programme was called Four Initiatives / Key Tasks. FY2021 reported 48 workstreams and an estimated more-than-A$80m pre-tax profit benefit from certain initiatives. FY2023 reported 50 workstreams, FY2024 42 and FY2025 45. FY2025 remuneration disclosure records 36 of 45 tasks under successful management/control, A$32m annualised procurement savings against a A$25m target, and A$55m infrastructure-cost reductions. These statements retain their management/remuneration-disclosure character; they are not independent project-completion certificates.

Section sources. Yancoal Australia FY2021 Annual Report, “Management Discussion and Analysis”; Yancoal Australia FY2022 Annual Report, “Management Discussion and Analysis”; Yancoal Australia FY2023 Annual Report, “Management Discussion and Analysis”; Yancoal Australia FY2024 Annual Report, “Management Discussion and Analysis”; Yancoal Australia FY2025 Full Year Financial Report, “Management Discussion and Analysis”.

Operating EBITDA is labelled by Yancoal as an unaudited non-IFRS additional financial measure and should not be treated as a substitute for audited statutory profit. In FY2025, the company reported A$5.910bn operating revenue, A$1.437bn operating EBITDA and A$440m statutory profit after tax; it separately reported ex-mine sales of 38.1Mt, A$5.576bn ex-mine revenue and A$146/t average price.

Capital and distribution facts reported over the period include an early US$500m debt repayment in FY2021; US$2.6bn external-debt repayment in FY2022; US$333m early repayment in FY2023; and, at 31 December 2025, A$2.127bn cash, A$84m interest-bearing liabilities and A$2.043bn net cash. In November 2025, Yancoal refinanced contingent-liability facilities into an A$1.35bn five-year facility and reported A$285m undrawn bank guarantees at the year end.

The FY2025 report records a fully franked interim dividend of A$0.062/share, declared 19 August 2025, and A$769m cash dividends paid during FY2025 (the FY2024 final and FY2025 interim). A final fully franked A$0.122/share dividend was declared on 25 February 2026 for payment 15 April 2026; it is a post-31-December-2025 event, not a FY2025 cash payment.

Section sources. Yancoal Australia FY2021 Annual Report, “Management Discussion and Analysis” and “Financial Statements”; Yancoal Australia FY2022 Annual Report, “Management Discussion and Analysis” and “Financial Statements”; Yancoal Australia FY2023 Annual Report, “Management Discussion and Analysis” and “Financial Statements”; Yancoal Australia FY2024 Annual Report, “Management Discussion and Analysis” and “Financial Statements”; Yancoal Australia FY2025 Full Year Financial Report, “Management Discussion and Analysis”, “Financial Statements” and “Dividends and Dividend Policy”.

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• Yancoal FY2021 Annual Report — portfolio, MD&A, operations, projects and Coal Resources/Coal Reserves statement.
• Yancoal FY2022 Annual Report — operations, markets, financial performance and Coal Resources/Coal Reserves statement.
• Yancoal FY2023 Annual Report — Chairman/CEO review, MD&A, operations, project record and Coal Resources/Coal Reserves statement.
• Yancoal FY2024 Annual Report — Chairman/Acting CEO review, MD&A, risk/closure record and Coal Resources/Coal Reserves statement.
• Yancoal FY2025 Full-Year Financial Report — MD&A, financial/cash/debt record, project/approval status and Coal Resources/Coal Reserves statement.

Editorial boundary. This is a factual, paraphrased record of annual-report disclosures. Coal Resources include Coal Reserves and must not be added to them. Resource/reserve estimates are not production guarantees, mine-life forecasts or valuations. Proposed, study-stage, lodged and interim-approved matters retain those exact status distinctions. No valuation, target price, recommendation or forecast is made.

This section records technical estimates reported by Yancoal at each year-end. It does not convert tonnes into an economic value, mine-life statement, forecast, or valuation. The annual reports state that Coal Resources are inclusive of material converted to Coal Reserves; they are therefore not additional to reserves. Unless a table says otherwise, asset totals are on a 100%-basis and the Group totals below are Yancoal attributable share. Rounding follows the reporting standard used in the source, so subtotals may not sum exactly.

12.1 Five-year Group estimate record — attributable share, Mt

The FY2025 report identifies 4,400Mt of attributable Coal Resources, 850Mt of attributable recoverable reserves and 640Mt of attributable marketable reserves at 31 December 2025, compared with 4,400Mt, 920Mt and 680Mt respectively a year earlier. The series is a succession of annual technical estimates; the reports should be consulted for the individual year’s assumptions, ownership percentages and rounding. The record does not establish a cause for any change unless the relevant source expressly does so.

12.2 Coal Resources by reporting asset — 100%-basis total, Mt

“—” means that the item is not presented as a comparable row in that annual table; it is not a zero estimate. The 2025 resource table provides the latest category detail: Moolarben 550Mt Measured, 155Mt Indicated and 150Mt Inferred; MTW consists of Mount Thorley (237/113/75) and Warkworth (603/107/165); HVO 630/1,400/1,700; Yarrabee 55/140/80; Middlemount 68/55/21; Ashton 70/50/40; and Ashton RUMEx 5/25/0 Mt (Measured/Indicated/Inferred). The table’s 100%-basis total is 6,494Mt, while the attributable total is 4,400Mt.

12.3 FY2025 recoverable reserves — 100%-basis, Mt

12.4 FY2025 marketable reserves — 100%-basis, Mt

The FY2025 parsed table carries comparison-year labels in certain reserve header cells that conflict with the surrounding FY2025 report context. The current-year asset totals and Group totals above are retained as reported, but the final numeric QA must reconcile the published PDF header before a future year-on-year proved/probable comparison is made from that table.

12.5 Asset-level marketable-reserve record where the annual tables present comparable totals, Mt (100%-basis)

The Ashton FY2023 row must remain subject to table-level numeric QA before inclusion in a final year-on-year chart because the annual-report grouping changes between Ashton and RUMEx. The numbers are not filled by interpolation.

Section sources. Yancoal Australia FY2021 Annual Report, “Coal Resources and Coal Reserves”; Yancoal Australia FY2022 Annual Report, “Coal Resources and Coal Reserves”; Yancoal Australia FY2023 Annual Report, “Coal Resources and Coal Reserves”; Yancoal Australia FY2024 Annual Report, “Coal Resources and Coal Reserves”; Yancoal Australia FY2025 Full Year Financial Report, “Coal Resources and Coal Reserves”.

The annual reports’ exploration tables cover capitalised exploration and evaluation activity and explicitly exclude pre-production drilling. They are not a complete account of all geology, land access or development activity.

FY2021 drilling reported 91 non-core Moolarben holes (5,269m), 16 core Moolarben holes (537m), five MTW core holes (1,594m), and 13 HVO non-core holes (1,354m) plus six HVO core holes (1,602m). FY2024 reported 67 Moolarben holes/3,711m, eight Stratford Duralie holes/1,139m, 24 Yarrabee holes/1,891m and 102 HVO holes/15,181m. FY2025 reported Moolarben 18 non-core holes/2,196m and four core holes/393m, and HVO 41 non-core holes/6,187m and ten core holes/1,601m. These are reported drilling counts and metres, not a statement of discovery, resource conversion or future production.

At 31 December 2025, the annual-report tenure register includes reported title categories across Moolarben, MTW, HVO, Yarrabee/Wilpeena, Middlemount, Ashton and Ashton RUMEx. The list comprises exploration licences, mining leases, coal leases, consolidated coal leases, assessment leases, authorisations and a mineral-development licence. It should be read as the report’s resource/reserve tenure register, not as an assurance of title, an exhaustive landholding schedule or an approval status for every future activity.

Section sources. Yancoal Australia FY2021 Annual Report, “Yancoal 2021 Exploration Drilling” and “Yancoal Australia Tenements”; Yancoal Australia FY2022 Annual Report, “Yancoal 2022 Exploration Drilling” and tenure table; Yancoal Australia FY2023 Annual Report, “Yancoal 2023 Exploration Drilling” and tenure table; Yancoal Australia FY2024 Annual Report, “Yancoal 2024 Exploration Drilling”; Yancoal Australia FY2025 Full Year Financial Report, “Yancoal 2025 Exploration Drilling” and “Yancoal Australia Tenements”.

The following is a historical record. “Operating EBITDA” is a management-defined, unaudited non-IFRS additional financial measure in the source and is shown separately from statutory revenue and profit after tax.

The annual reports describe different operating conditions behind each year’s reported figures. FY2021 describes hard-rock intrusion, rainfall, logistics disruption and COVID-related workforce effects. FY2022 describes ongoing wet-weather, workforce and operating disruption. FY2023 records recovery plans in a drier period. FY2024 records recovery-plan completion and a return to stated steady-state conditions for sites, while FY2025 records 38.1Mt of ex-mine sales, lower average ex-mine price and A$57m more demurrage following NSW wet weather and Port of Newcastle disruption. This is source-reported context, not an MII prediction about future prices, costs or profitability.

Section sources. Yancoal Australia FY2021 Annual Report, “Management Discussion and Analysis” and “Financial Statements”; Yancoal Australia FY2022 Annual Report, “Management Discussion and Analysis” and “Financial Statements”; Yancoal Australia FY2023 Annual Report, “Management Discussion and Analysis” and “Financial Statements”; Yancoal Australia FY2024 Annual Report, “Management Discussion and Analysis” and “Financial Statements”; Yancoal Australia FY2025 Full Year Financial Report, “Management Discussion and Analysis” and “Financial Statements”.

FY2021 included an early US$500m debt repayment. FY2022 disclosed US$2.6bn of debt repayment. FY2023 included a US$333m early repayment. In FY2025 the Group reported a A$1.35bn five-year contingent-liability facility completed on 28 November 2025; the report listed A$285m of undrawn bank guarantees at 31 December 2025, maturing in November 2030. The reported FY2025 cash balance was A$2.127bn, interest-bearing liabilities A$84m and net cash A$2.043bn.

Dividend declarations and payments need to be distinguished. FY2022 reported the first fully franked final dividend of A$0.70 per share. FY2023 reported A$0.370 interim and A$0.325 final dividends per share. FY2024’s A$0.520 fully franked final dividend was declared after the balance date on 20 February 2025 and paid on 30 April 2025. For FY2025, an A$0.062 interim dividend was declared in August 2025; a A$0.122 final dividend was declared after year-end on 25 February 2026 and was scheduled for payment on 15 April 2026. The source describes a policy subject to law, cash needs, directors’ duties and capital-management considerations; this record does not imply a future dividend.

Tax timing can materially affect annual cash flows. The FY2024 report, for example, attributes part of the change in operating cash flow to FY2023 tax payments including A$1.412bn paid in June 2023 for FY2022 taxable profits. It is reported as a cash-flow timing fact, not a measure of recurring earnings.

Section sources. Yancoal Australia FY2021 Annual Report, “Management Discussion and Analysis” and consolidated cash-flow statement; Yancoal Australia FY2022 Annual Report, “Dividends and Dividend Policy”, “Management Discussion and Analysis” and cash-flow statement; Yancoal Australia FY2023 Annual Report, “Dividends and Dividend Policy”, MD&A and cash-flow statement; Yancoal Australia FY2024 Annual Report, MD&A; Yancoal Australia FY2025 Full Year Financial Report, “Dividends and Dividend Policy” and MD&A.

The injury-rate metric is not portfolio-wide in a simple ownership sense: the reports describe its scope as Yancoal-operated sites and corporate offices, excluding non-operated HVO and Middlemount. The FY2024 annual report records the death of a contractor during Austar closure activities in September 2024 and says the regulator investigation was ongoing at that report date. No cause, legal responsibility, compliance conclusion or outcome is inferred here.

The FY2021 report listed Scope 1 and 2 operational-control emissions of 2.08MtCO2-e for the year ended 30 June 2021. FY2024 reported 1,819,649 tCO2-e Scope 1 and 266,753 tCO2-e Scope 2, or 2,086,402 tCO2-e in total, with a stated operational-control boundary. FY2025’s sustainability disclosure reports 3,073,231 tCO2-e Scope 1 and 351,689 tCO2-e location-based Scope 2 within its stated boundary. The FY2025 report also notes significant measurement uncertainty and comparability limitations in greenhouse-gas measurement. These periods and boundaries should not be combined without that qualification.

The FY2025 report says the company had not set voluntary climate/emissions-reduction targets. It describes statutory Safeguard Mechanism obligations for six mines. After FY2025 Section 19 reporting, it records aggregate 830,661 tCO2-e carbon liability for Ashton, Warkworth and Yarrabee and states that ACCUs would be surrendered by 1 April 2026; Moolarben was reported below its baseline and generated 39,794 SMCs. This is a statutory-reporting record, not a conclusion on future compliance or emissions.

Environmental and closure items remain status-qualified. The reports describe water storage, pumping, segregation and preparedness controls; independent environmental assurance audits; rehabilitation provisions; and closure planning for Austar and Stratford Duralie. FY2025 discloses A$1.065bn of contingent bank guarantees/surety bonds, including A$685m for statutory restoration-cost guarantees for owned and managed mines. A guarantee, audit, plan or provision does not itself demonstrate a future outcome.

Section sources. Yancoal Australia FY2021 Annual Report, “Sustainability” and “Management Discussion and Analysis”; Yancoal Australia FY2022 Annual Report, “Sustainability” and “Management Discussion and Analysis”; Yancoal Australia FY2023 Annual Report, “Sustainability” and “Management Discussion and Analysis”; Yancoal Australia FY2024 Annual Report, “Safety, Sustainability and People” and “Financial Statements”; Yancoal Australia FY2025 Full Year Financial Report, “Safety, Sustainability and People”, “Sustainability Report” and “Management Discussion and Analysis”.

The FY2025 report identifies Board committees including Audit and Risk Management, Health, Safety, Environment and Community, Nomination and Remuneration, and Strategy and Development. The FY2024 annual report reports about 3,689 FTE employees at 31 December 2024, all in Australia; it excludes contract labour, contractors and HVO employees from that employee count. Governance structures and workforce statistics are snapshots of the relevant reporting period.

Across the five reports, the company’s risk disclosures include coal-price and demand conditions, foreign exchange, interest rates, credit and liquidity, weather and transport infrastructure, health and safety, regulatory approvals, closure and rehabilitation, cyber security, people, joint ventures and third-party reliance, resources/reserves and geology, impairment, and climate/transition matters. Listing a risk does not state its likelihood, priority, realised outcome or financial effect.

The FY2024 financial statements identify resources/reserves, coal price, exchange rates, production/sales, costs, capital, closure/rehabilitation and commodity-related assumptions as inputs to impairment assessment; they describe uncertainty in those estimates. The FY2021 report also presents scenario sensitivities for particular cash-generating units. Such company disclosures are accounting assumptions or sensitivities, not forecasts, valuation conclusions or investment advice.

At 31 December 2025, provisionally priced sales remaining to finalise were reported at A$159m; the report’s 10% price sensitivity was A$16m. It also identifies currency, price, interest-rate, credit and liquidity risks. These figures are point-in-time disclosures and sensitivity illustrations, not future price guidance.

Section sources. Yancoal Australia FY2021 Annual Report, “Financial Risk” and impairment notes; Yancoal Australia FY2022 Annual Report, “Corporate Governance Statement” and financial-risk notes; Yancoal Australia FY2023 Annual Report, “Corporate Governance Statement” and financial-risk notes; Yancoal Australia FY2024 Annual Report, “Corporate Governance Statement”, impairment and financial-risk notes; Yancoal Australia FY2025 Full Year Financial Report, “Corporate Governance Statement” and “Management Discussion and Analysis”.

18.1 Portfolio register — annual-report status at FY2025

18.2 Method and use limits

This factual record was built from the five linked Yancoal annual reports for FY2021–FY2025. It reorganises reported figures into a company-specific record and uses independent wording and reconstructed tables. It does not reproduce source graphics, maps, narrative passages or table layouts. Every number remains subject to its original reporting date, accounting/ownership basis, definition and rounding.

No AI-generated image is included in this report. If an AI-generated visual is added in a later edition, it must be identified next to the image.

AI-assisted factual record and important notice. This report was prepared with active use of artificial-intelligence systems for source extraction, comparison, calculation support, translation, drafting and explanatory presentation. The systems may introduce errors, omissions, mistranslations, misclassification or inconsistencies. MII performs a reasonable review before publication, but does not independently audit every underlying source or guarantee accuracy, completeness, currency or fitness for any purpose. This material is provided solely for general informational and educational purposes. It is not financial, investment, legal, tax or other professional advice; it does not recommend or solicit any transaction in any security; and it contains no price target, valuation or forecast. Readers must verify material information directly with the original issuer documents and obtain independent professional advice before acting. To the maximum extent permitted by applicable law, MII and its contributors disclaim liability for loss arising from use of or reliance on this material. Nothing in this notice excludes, restricts or modifies any liability that cannot lawfully be excluded, restricted or modified.

18.3 Primary issuer sources

• Yancoal Australia FY2021 Annual Report
• Yancoal Australia FY2022 Annual Report
• Yancoal Australia FY2023 Annual Report
• Yancoal Australia FY2024 Annual Report
• Yancoal Australia FY2025 Full Year Financial Report

Section sources. Yancoal Australia FY2021 Annual Report, “Business Overview”; Yancoal Australia FY2022 Annual Report, “Management Discussion and Analysis”; Yancoal Australia FY2023 Annual Report, “Management Discussion and Analysis”; Yancoal Australia FY2024 Annual Report, “Business Overview” and “Coal Resources and Coal Reserves”; Yancoal Australia FY2025 Full Year Financial Report, “Business Overview”, “Management Discussion and Analysis” and “Coal Resources and Coal Reserves”.