Transcript

Today, we released our interim financial results for the first half of 2026. Our results reflect an improvement in our financial performance. Yeah. Supported by higher benchmark coal prices, increase export sales volumes, improved operational performance and disciplined cost management. This year we also mark five years as a listed company. Over this period, we have made progress to optimize our portfolio, advanced life extension projects and maintain the flexibility to build resilience through the cycle. Over the past five years, we have threatened more than 23 billion Rand to shareholders through dividends and share buybacks. Safety remains at the core of everything we do. We have operated fertility free for 3 1/2 years. While our total recordable case frequency rate improved to 2.62 in the first half from 2.83 in 2025. Our focus remains firmly on achieving A0 harm mindset. Operationally, we delivered a resilient first half group export. Sellable production increased to 8.5 million tonnes. While export equity sales increase to 8.9 million tonnes. And delivered a strong performance with production increasing from 1.6 to 2.2 million tonnes. In South Africa, improved rail performance supported our operations with the North Corridor reaching and analyzed run rate of 59.9 million tonnes. And near colliery in Zebulon N Shaft Life extension projects were delivered on time. Within budget and continue to ramp up. Young Smith, our CFO, will take you through our Financial Performance Group. Revenue for the six months ending 30 June 2026 increased to 15.2 billion Rand. Adjusted EBITDAR increased by 91% to 1.3 billion. When supported by higher benchmark coal prices, increased sales volumes and lower operating costs, net profit increased to 1.4 billion Rand earnings per share were significantly higher by 467. Percent up to 10 round 95 per share. Cash generation was particularly strong, reflected in the adjusted operating free cash flow of 1.9 billion Rand for the six months and a net cash balance of 6.1 billion Rand at the end of June 2026. Accordingly, the Board has declared an interim cash dividend of 550 per share. In addition, the Sisonke Employee Empowerment Scheme and then Kulu Community Partnership Trust will also receive 57 million Rand. Collectively, we are pleased that this is the 10th consecutive dividend that will be paid to shareholders since our listing in June 2021. Our capital allocation framework balances 3 fundamental objectives, maintaining balance sheet resilience and liquidity. Funding sustaining CapEx and environmental obligations and returning capital to shelters through the cycle, whilst retaining flexibility to pursue opportunities selectively. Overall, these results demonstrate the benefits of strong operational performance, improved export sales volumes and disciplined cost management. Maintaining balance sheet flexibility alongside the investment evaluation criteria we maintain remains the cornerstone of our disciplined capital allocation. Maintaining a strong liquidity position is appropriate given current market conditions and the potential opportunities available to the group. Looking ahead, our strategies focused on earnings growth and resilience through the cycle. We will maximize the value of our existing assets, pursue selective growth opportunities and develop future optionality for long term growth. Underpinning these priorities is our focus on safety and ESG, the strength and capability of our people, technical and operational excellence. And disciplined capital allocation. Our capital allocation framework continues to prioritize returns to shareholders, that is after funding environmental obligations and investing in capital to sustain our business. We remain focused on responsibly creating value together for a shared future.