Coronado Global Resources Inc.

Thank you all for standing by, and welcome to the Coronado Global Resources second quarter investor call. All participants are in listen-only mode. There will be a discussion of results from the CEO and CFO, followed by a question and answer session. If you wish to ask a question, you will need to press the star key, followed by the number one on your telephone keypad. I would now like to hand the conference over to Andrew Mooney, Vice President, Investor Relations and Communications. Please go ahead.

Thank you operator and thank you everyone for Julian Coronado's second quarter investor call. Today we released our quarterly report to the ASX and SEC in which we outline our production and sales volumes as well as other key information related to our safety and financial performance. A more detailed outline of our financial position and results will be released to the market on the 9th of August with our Form 10Q and half-year earnings release. Today, I am joined by our Managing Director and CEO, Jerry Spindler, and our Group CFO, Gerhard Ziems. Within our report, you will see our notice regarding forward-looking statements and reconciliations of certain non-US GAAP financial measures. We encourage you to review these statements in conjunction with our other filings with the ASX and SEC. We also remind everyone that Coronado quotes all numbers in US dollars and metric tonnes unless otherwise stated. With that, I'll hand over to Jerry.

Thank you, Andrew. Coronado ended the first half of 2022 in a materially stronger financial position than 12 months ago. And with a series of new records and significant achievements to our name. That reinforces our position as the world's leading pure play metallurgical coal company. Our business has enjoyed record year-to-date revenues and record Metco price realizations. Coronado has distributed 351 million U.S. dollars or half a billion Australian dollars in cash dividends to shareholders in the first half of 2022, all while maintaining a strong balance sheet, healthy liquidity levels, and retaining a prudent net cash position. We did not release our half-year audited financial results until the 9th of August. However, our first half EBITDA results are anticipated to eclipse the highest full-year EBITDA generated in the history of Coronado. In addition, our strong first half financial results, Coronado has also improved its reportable safety rates year on year. released its fourth sustainability report, including emission reduction plans and targets, and completed critical plan maintenance activities, as well as improving performance of CURA from our drag lines and newly transitioned fleets under Coronado management, as well as entering the S&P ASX 200 Index for the first time. and continued to reinvest capital into its existing high-quality MET operations. All of these initiatives underpin improved second-half performance and for years to come. These considerable achievements were produced despite headwinds in the form of significant wet weather events in Queensland and growing inflationary cost pressures. These unforeseen events have contributed to higher mining costs in our business, similar to our peers. While we anticipate reducing unit costs in the second half, in line with increased production, today we revise our full-year mining costs per ton guidance upwards to between $79 and $81 a ton. We also guide to the lower end of our previously announced production guidance of 18 to 19 million tons and maintain our CapEx guidance of between $170 and $190 million. Despite the unplanned factors, I remain extremely confident in our ability to continue providing enhanced value and returns to all shareholders as the year progresses. Before we elaborate further on our production and financial results, I'll provide an overview of our first half safety results. Safety and well-being of our workforce continues to be Coronado's number one priority. To that end, I am again pleased to advise that reportable rates in both Australia and the U.S. reflect improvements year on year and continue to remain below the relevant industry averages. In Australia, the 12-month rolling average total reportable injury frequency rate at 30 June was 4.04, or excuse me, 4.08 compared to a rate of 5.63 at the end of June 2021, reflecting a 28% year-on-year improvement. In the U.S., the 12-month rolling average total reportable incident rate was 2.01 compared to a rate of 3.04 in the prior year. reflecting a 34% year-on-year improvement. New and revised health and safety initiatives across all Coronado operations continue to be implemented quarterly. Safety results have improved year-on-year due to several factors, including hazard identification and critical control verification programs, effectiveness audits, and enhanced training programs. In Australia, CRA continued to reinforce the importance of safety during the June quarter by developing and communicating to the workforce our life-saving rules. These rules apply to all employees and contractors on site and reinforce to everyone that safety is our priority and our key accountability. In the U.S., we continue to focus on training programs for our existing workforce and developing new miners. This has resulted in more than 9,000 hours of discretionary training that has helped set solid expectations for new hires and articulate Coronado's safety culture and focus. Turning to production, Coronado completed the second quarter with run of mine coal production of 5.5 million tons, saleable production of 3.3 million tons and sales volumes of 3.9 million tons. Production and sales were lower than the March quarter due to significant wet weather. Planned downtime for key maintenance activities and certain geotechnical issues on which I will go into more detail. The Curramine along with most of the Bowen Basin was significantly impacted by wet weather during the June quarter. Blackwater, the nearest town to Kura, received 213 millimeters of rain in the quarter, representing nearly a 300% increase on the 10-year average rainfall for the area. At the height of the rain event, the mine was evacuated due to road closures and flooding in the surrounding areas to ensure the safety of our people traveling to and from site. The consistent rain from late April through May was a key contributor to the lower production volumes. However, despite the impacts of the Bowen Basin rain events, CURA successfully executed the first half plan transformational activities within the one CURA plan. These included the transition of three former contractor fleets to Coronado management. the investment in box cuts to improve dragline strike length and reduce in-pit congestion. The introduction of a high wall minor to liberate resources constrained by infrastructure and completed major plan maintenance activities on the CHPP and two draglines in the June quarter. Completion of the maintenance works within our budgeted plans and aligns with the mine second half production goals. The one current plan utilizing our new management structure is producing positive results. The continuing focus on our program of improving dragline productivity has resulted in 10 to 11% improvements in two of the draglines with focus swaying to the remaining two draglines in the remainder of the year. The newly transitioned excavator fleets which replaced contractor units operated with 27% lower costs and 30% more operating time beginning in the second quarter compared with contractors in Curran North. And we expect to see these changes deliver continually improving results in the remainder of the year. I might add that we will be adding an additional transition fleet during the third quarter. The mine's focus on waste movement in the first half of the year is also evident, with waste movement year-to-date broadly aligned with the same period in prior years despite the heavy rain, as mine management focuses on prescript and boxcut works to ensure higher sustainable production levels in the second half of 2022. Cura's focus for the remainder of 2022 is to deliver strong second half production by continuing to drive operational performance to the mine plan. Following the completion of the transformational and crucial maintenance activities and wet weather, the month of June was Cura's best production month to date. The new focus for all employees and contractors is to replicate these rates in the second half. The conversion of the fourth contractor fleet to a core and auto operating model at Cura North is nearly complete, and once complete, will drive greater efficiencies, as will the continued provision of mining services by Golding at Cura Main to the end of 2026. At our U.S. operations, run of mine production mirrored the prior March quarter, but saleable production was lowered. This was primarily due to lower yields from the Buchanan mine as the long wall progressed through a rock intrusion in April. That intrusion is now safely behind us. At Logan, production numbers were higher quarter on quarter as workforce availability rates continued to improve. Despite the lower saleable production tonnages in the quarter, Sales volumes mirrored the prior quarter as we utilized existing stockpiles to meet required shipments. The focus for the U.S. operations in the second half of the year is to continue to optimize production levels to meet demand for U.S.-sourced coal, particularly in China and Europe. Compared to other met coal producers, Corradano maintains a competitive advantage given its geographical diversification and ability to access the Chinese market, plus the ability to take advantage of existing met pricing arbitrage, which sees the U.S. and Chinese benchmark prices trading at a premium to the Australian index. I'll now hand over to Gerhard to talk to our financial position and market outlook.