Coronado Global Resources Inc.

Thank you for standing by and welcome to the Coronado Global Resources First 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 first 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 9th of May with our Form 10Q earnings release. Today I am joined by our Managing Director and CEO, Gerry Spindler, our Group CFO, Gerhard Ziens, and Australian COO, Douglas Thompson. 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 will also remind everyone that Coronado quotes all numbers in US dollars and metric tonnes, unless otherwise stated. With that, I'll hand the call over to Jerry.

Thank you, Andrew. The Coronado team performed well during the March quarter, delivering quarter-on-quarter higher revenues, improved liquidity, and balance sheet strength, and improved safety results. In addition, the team completed substantial rehabilitation works at our Logan Mines. completed key maintenance activities at Cura, and continued to progress our organic growth plans successfully. March quarter production and sales volumes were lower than prior quarter, but remained firmly on plan. January and February production and sales were lower quarter on quarter due to the maintenance activities at the Cura mine, in addition to unforeseen impacts of elevated wet weather and rail logistics chain issues. However, March's monthly production volumes were strong, as the wet weather subsided in Queensland, allowing for better operating conditions. In the month of March, Cura achieved run-of-mine coal production of 1.2 million tons and saleable production of just short of 1 million tons. During the month, the Overland Conveyor set a new record, transporting 1 million tons of material to the preparation plants from the Cura North operation. With more dry weather forecast and key maintenance activities behind us, we anticipate solid production rates from Cura in the coming quarters. During the quarter, progress was made on our organic growth projects, with Capital Works continuing at the Buchanan Mine to expand the raw coal storage area and install a second set of skips. At Cura, work continued on progressing the Cura North Underground Met Coal Project and our Emissions Reduction Gas Pilot Project. These projects underpin our organic growth plans to reach 20.5 million metric tons, per annum of saleable production by 2025, and they remain on target. Coronado's annual general meeting will occur on the 25th of May, 2023, Australian Eastern Standard Time. At the AGM, Douglas Thompson will officially be appointed as my successor as Managing Director and Chief Executive Officer of the company. I again congratulate Douglas on his appointment, and I look forward to working with him and the board in my new role as executive chair. Before I go into detail on our operations, I would like first to provide an overview of our safety results. The safety and well-being of our people continues to be Coronado's number one priority. In Australia, the 12-month rolling average Total reportable injury frequency rate as of 31 March was 3.18 compared to 3.92 as of 31 December 2022. Year-to-date rates reflect a 19% improvement on the year-end 2022 rates and are their lowest since April 2022. In the U.S., the 12-month rolling average total reportable incident rate as of 31 March was 2.43, compared to 2.42 at the end of December 2022. The group total reportable incident rate improved to 1.31, compared to 1.41 at the end of 2022. I am pleased to announce that the Buchanan Mine Preparation Plans achieved 1 million hours and 10 years injury-free during the quarter. This is a tremendous effort by the team, and I congratulate them on their continued strong commitment to safety. In addition, we have been notified that many of our U.S. operations achieved industry awards for strong safety performance in 2022. New and revised health and safety initiatives continue to be implemented across Coronado operations quarterly. In Australia, Cura has implemented upgrades to its digital platform to support the safety health management system, and it continues to implement measures to enhance its safety culture. Increased training initiatives continue at Cura and the U.S. Mons. with an enhanced focus on hazard identification and mitigation plans. During the prior year and into 2023, the Cura team has been working on a dragline proximity awareness project to devise and implement technology solutions to improve proximity awareness in the operating area of the dragline fleet. The technology utilizes radar and LIDAR imagery to alert a dragline operator when personnel or equipment enter the operational areas of the machines. The outcome of the project has been to effectively reduce the risk of personnel and equipment interactions with the draglines to promote an enhanced fake work environment. A rollout of the technology On all of Cura's dragline, fleet is expected by the end of the year. Turning to our operational performance, Coronado completed the first quarter with group run-of-mine coal production of 6.2 million tons, saleable production of 3.7 million tons, and sales volume of 3.7 million tons. The U.S. operations had an excellent production quarter, with both run-of-mine coal production and saleable production 14% and 10% higher quarter-on-quarter, respectively. The Buchanan and Logan mines were not impacted by adverse weather conditions during the quarter. However, they were impacted by some rail logistics chain delays at the end of March, which saw some sales slippage into April. the Eagle No. 1 mine and Winifred mines at Logan set new production records in March. The Australian operations delivered run-of-mine coal production and saleable production of 2.7 million tons and 2.1 million tons respectively, both down on December quarter but remaining on plan. During the March quarter, the Curra mine undertook major maintenance activities on the Overland Conveyor, shovel, and the mine's largest and most productive drag line. These maintenance activities, combined with the impacts of extensive wet weather in the Bowen Basin on already saturated ground in January, contributed to the lower production quarter on quarter. Sales volumes for the group in the March quarter were 3.7 million tons, 8% lower than the December quarter. Sales volumes from the Australian and U.S. operations were 2.2 million tons and 1.5 million tons, respectively. The U.S. operations realized an inventory build late in the quarter with slippage of some sales tonnages into the June quarter. The sales profile for Cura in the March quarter was lower due to the impacts from lower production and a train derailment on the Blackwater Line in late January, which impacted the coal supply chain to the port of Gladstone. The Curramine utilizes the Blackwater Line and subsequently could not rail any coal to port for two weeks while the rail line repairs were undertaken. Following a slow ramp up, the rail line is now back to operating at normal capacity. Despite lower sales and production rates in January and February from completed maintenance, wet weather, and train derailments, the month of March proved to be a much more positive result for the company as the weather conditions improved at Cura and as the mine commenced benefiting from the maintenance works program completed earlier in the quarter. Group saleable production for the month of March was strong and on an annualized basis exceeded the top end of the full-year production guidance. Coronado anticipates continuing to deliver improved production performance and maintains existing guidance if drier conditions continue into the June and September quarters. I'll now hand over to Gerhard to talk to our financial position and market outlook.