Pembroke Olive Downs Pty Ltd – 1Q-2025 Results Announcement

30 May 2025 10:54 CEST

Pembroke Olive Downs Pty Ltd – Q1 FY2025 Results Announcement

Enclosed is the Pembroke Olive Downs Pty Ltd company results and presentation
for the first quarter of 2025.

The March Quarter FY25 report and company update will be presented on Wednesday
18 June 2025 at 13:00 (CET). The presentation and Q&A session will be held in
English presented by Chairman & CEO Barry Tudor and CFO Yoko Kosugi through
audio conference call. The link to the conference call will be available on:

https://events.teams.microsoft.com/event/f3613041-5dc2-42e1-a7d3-2f7349e03114@ce
d47db0-d73a-4514-a74d-63af7885ff7d

Summary of first quarter 2025 developments:
• The first quarter of 2025 marked the completion of a 12 month ramp-up period
for Stage One of the Olive Downs Complex.
• Production was steadily increased month by month to a quarterly average in
excess of 500k tonne per month (ROM).
• 911Kt product sold to the global market.
• ~75% coking coal production is now sold under Term contracts for JFY2025/2026.
• Achieved price relativity to HCCAU00 ~100% with an average realised coking
coal price at ~USD148/tonne.
• Cash balance as of 31 March 2025 was USD260m(1).
• From the start of Financial Year 2025, the functional currency for financial
reporting has moved from Australian dollar (AUD) to United State Dollar (USD).

Pembroke Olive Downs team has completed ramp up phase and continues to deliver
upon our plan with successful marketing strategy execution. 75% of our coking
coal will be sold under Term contracts for JFY2025/2026, demonstrating strong
global customer confidence in the Olive Downs brand. Continuing focus is not
just on meeting run of mine (ROM) coal production but also consistency of
product quality and reduction of production cost. In the March quarter, the
average PLV HCC FOB AUD index price decreased by 15% compared with the prior
quarter. The index price decrease was primarily due to the change in the global
economic environment leading to a softer seaborne demand. We anticipate that Q2
quarter prices will stabilise as India imports increase with strong demand.
Achieving consistent, stable and on specification production allows the Company
to effectively respond to the global market’s increasing demands.


30 May 2025

Contact: Yoko Kosugi
Chief Financial Officer
+61 2 9231 1400 / treasury@pembrokeresources.com.au
Pembroke Olive Downs Pty Ltd

(1)Cash balance including cash support bank guarantee.

About Pembroke Resources
Pembroke Resources owns the Olive Downs Complex, a large-scale world-class
steelmaking coal mine located in the Bowen Basin of Queensland. Stage one of the
Complex produces six million tonnes of run of mine coal, currently supplying
tier one steel mills with high quality coking coal in Southeast Asia and Europe.

By reshaping mining and setting new standards that go well beyond current
requirements, Pembroke Resources is creating a modern and unique approach that
will deliver for the future.

More information:
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648001_Q1-2025 Bondholders Presentation Final.pdf