Coronado Global Resources Inc.

Thank you for standing by and welcome to the Coronado Global Resources fourth quarter investor call. All participants are in a 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 joining Coronado's fourth 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 results, coal markets and financial performance. A more detailed outline of our financial position and results will be released to the market on the 22nd of February with our Form 10-K and full year earnings release. We will convene another call then to outline in more depth our financial outcomes and forward plans. Today, I am joined by our Managing Director and CEO, Jerry Spindler, and our Group CFO, Gerhard Ziens. 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. I also remind everyone that Coronado quotes all numbers in U.S. dollars and metric tons unless otherwise stated. With that, I'll hand the call over to Jerry.

Thank you, Andrew. And thank you everyone for joining our call today. Coronado Global Resources ended 2022 with record financial results, delivered record dividends to shareholders, and continued to maintain a very strong and secure balance sheet. The excellent 2022 shareholder returns are in part due to the improved market conditions year on year, but also due to the significant work undertaken by our board, management, and employees in progressing strategic initiatives that are coming to fruition I would like to thank all Coronado employees for their dedication over the past 12 months in helping drive our successes. Our record financial results and returns have occurred despite the impacts to production from considerable wet weather conditions in Queensland and global economic circumstances that have driven significantly higher inflation. Expectations are that weather patterns will improve in 2023 and global inflationary impacts will ease, which should translate to improved production and costs for our business. However, should these events, which are outside our control, continue, I remain extremely confident in our ability to address all challenges presented to the company. and in our ability to continue to provide enhanced value and returns to all shareholders. Before we elaborate on our results, firstly, I would like to provide an overview of our safety results. The 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. continue to remain below the relevant industry averages. In Australia, the 12-month rolling average total reportable injury frequency rate at the 31st of December was 3.92. And in the United States, the total reportable incident rate was 2.42. On a consolidated basis, the group's total reportable incident rate stands at 1.41. I am proud to confirm that the Logan complex finished 2022 with its best total reportable incident rate under Coronado ownership, reflecting a 25% safety improvement year on year. Additionally, our lower War Eagle mine, which is part of the Logan complex, achieved 1 million man hours for three years lost-time injury-free, which is a tremendous achievement. New and revised health and safety initiatives continue to be implemented across Coronado operations quarterly with a focus on training programs and hazard identification and mitigation. Turning to our operational performance, Coronado completed the fourth quarter with higher production volumes and stockpiles compared to the prior September quarter. Group run of mine coal production was 6.7 million tons, up 4%, and group saleable production was 4.3 million tons, up 4%. Group sales volumes were 4 million tons, down 4% compared to the September quarter. If we focus on Australia first, run of mine production from the Australian operations of 3.6 million tons was 21% higher compared to the September quarter. Similarly, saleable production of 2.8 million tons was 15% higher quarter on quarter. Sales volumes totaled 2.4 million tons, which aligned with the September quarter. Elevated coal mining activities per the plan in late December saw coal inventory levels at year end build to more than double those at the end of September, which should bode well for March quarter shipments. Improvement in these key metrics quarter on quarter build on substantial improvements realized in the September quarter, which were achieved despite the heavier December quarter rainfall. These improvements reflect the return on investments made in 2022 under the one Cura plan. While production improvements at Cura were noted quarter on quarter, the rain events in the Bowen Basin continued throughout the December quarter, which further hindered coal production. The town of Blackwater, the nearest town to Cura, received 290 millimeters of rain in the quarter, which was 112 millimeters higher than the prior quarter. 2022 rainfall levels for Blackwater have totaled 792 millimeters, which is substantially higher than the 10-year rainfall average for the area, but also 200 millimeters higher than rainfall levels in 2021. The consistent rainfall this year has been a key contributor to the lower production volumes and higher mining costs per ton. Despite the impacts of the Bowen Basin rain events, CURRA has executed its capital investments in the mine plan, specifically investments targeting dragline performance and waste movement, which have translated to improved performance. The mine successfully finished 2022 with waste movement totals exceeding 2021 levels. Further initiatives implemented in accordance with the One CURRA plan included the transition of four contractor fleets to a Coronado operator model at Cura North, mine planning improvements to decongest the operating pits and improve Cura's overall strike length, and the commencement of high-wall mining activities to liberate restricted coal under the overlaying conveyor. These initiatives are realizing tangible benefits for Cura that have helped mitigate the impact of rain and position the mine well for 2023. Capital growth plans at the current mine continue in accordance with existing expansion plans to reach 13.5 million tons per year by 2025. Planned growth activities continue with the completion of the current North Underground Prefeasibility Study, which are showing positive results. Additionally, a project occurred targeting the capture and use of coal seam methane as a diesel substitute has commenced. Drill contractors have mobilized the site and have commenced the drilling program. This project forms part of Coronado's greater strategy to reduce emissions from open-cup mining and reduce energy costs by investigating potential investment strategies into wind, solar, and gas projects. Today, I am also pleased to confirm that our current team continued to make significant progress in meeting our rehabilitation targets during the quarter by completing another 28 hectares of work. This brings total completed rehabilitation work in 2022 to 170 hectares of land the equivalent of 171 full-size football fields. Turning to our U.S. business, 2022 saleable production from the U.S. operations was 6.2 million tons, down 2% compared to the prior year. The marginally lower production year-on-year primarily stemmed from the rock intrusion experienced at the Buchanan Mine in April, which is now safely behind us in the mine plans. The production impacts from the rock intrusion were partly offset by improved labor availability across both Logan and Buchanan in the second half of the year and the commencement of the new Winifred mine at Logan in the September quarter. December quarter production and sales volumes for the U.S. business were lower compared to the September quarter, but aligned with plans. The December quarter is traditionally a quarter with lower labor hours due to Thanksgiving and Christmas holidays. Additionally, the operations and logistics chain were partly impacted by the severe snowstorm conditions in December. During the second half of 2022, consultation and engagement with various community and state local governments in the U.S. regarding our Tier 1 Buchanan Mine Plan growth mine growth plans continue to take place. The detailed work undertaken with local counties and the governor of Virginia, Mr. Glenn Youngkin, have resulted in Coronado securing grants and incentives to progress with our Buchanan expansion plans. In the December quarter, Coronado continued capital works at the Buchanan mine to expand its Rockwell storage space and commence construction of a second set of skips. Growth plan at our U.S. operations to produce 6.9 million tons by 2025 remain on target. On 17th of December, 2023, Governor Youngkin and other distinguished guests visited our Buchanan mine in a show of support for our growth plans to continue producing high quality met coal in Virginia, and in supporting the state and local communities in which we operate. During 2022, our U.S. business also progressed its reclamation plans by completing rehabilitation works on 52 hectares of land across Buchanan, Logan, and the Greenbrier operations. Last week, we notified the market of my intention to retire from my position as Chief Executive Officer of Coronado. I'm very pleased to announce and congratulate Douglas Thomas on his appointment as Coronado's next CEO in accordance with our plan succession process. I feel a deep commitment and endless gratitude to all employees, shareholders, and customers of this company having been involved with Coronado since its inception. its inception. This is a significant personal decision for me, but one I am very comfortable making given my high level of confidence in the succession plans we have in place and in Douglas Gerhard and the rest of the Coronado team. Douglas has been the company's Chief Operating Officer for Australia since September 2021 and has more than 25 years experience in the mining industry, including as Managing Director and Chief Executive Officer of TEAS, an affiliate of the CIMIC Group. Over the coming months, as I continue in my role as CEO, I will work closely with Douglas to facilitate a smooth transition. Following my transition to my new role of Executive Chair, I will continue for a period to support and guide Douglas to lead the board to ensure our business continues to evolve and grow. I'll now hand over to Gerhard to talk to our financial position and market outlook.