YANCOAL AUS (03668) has announced the signing of binding transaction documents on April 14, 2026, with EMR Capital Advisors Pty Ltd, Kestrel Coal (EMR) Limited, Adaro Capital Limited (ACL), collectively referred to as the sellers, and EMR Capital Management Limited. The company intends to acquire an 80% interest in the Kestrel Coal Mine, a major metallurgical coal asset located in Queensland's Bowen Basin with a long operational life. Kestrel is a large, long-life underground metallurgical coal mine and ranks among Australia's highest-producing underground metallurgical coal operations. The mine primarily yields high-quality hard coking coal, along with smaller quantities of semi-soft coking coal and thermal coal. Kestrel benefits from established, well-capitalized, and low-risk infrastructure, including a coal handling and preparation plant (CHPP) with an annual capacity of 10.5 million tonnes and dedicated rail access to the RG Tanna coal terminal in Gladstone. In 2025, Kestrel achieved approximately 8.2 million tonnes of run-of-mine (ROM) coal production and 5.9 million tonnes of saleable coal production, both figures representing 100% ownership basis. YANCOAL AUS plans to acquire 100% of the shares in Kestrel Coal Group Pty Ltd (KCG), which indirectly holds 100% of Kestrel Coal Resources Pty Ltd (KCR). KCR, in turn, holds an 80% interest in the unincorporated joint venture that operates the Kestrel Coal Mine, with the remaining 20% interest held by Mitsui Kestrel Coal Investment Pty Ltd (Mitsui). YANCOAL AUS has agreed to pay an initial cash consideration of $1.85 billion upon completion of the transaction, subject to customary closing adjustments. Additionally, the company has agreed to pay contingent cash consideration totaling up to $550 million. Under the contingent consideration arrangement, for any year within the first five years following completion where the benchmark coal price exceeds $225 per tonne (nominal value), YANCOAL AUS will pay the sellers 30% of the attributable revenue generated from Kestrel coal sales enjoyed through KCG that results from the benchmark price exceeding $225 per tonne. The contingent payment will be calculated annually and paid to the sellers as soon as practicable after each anniversary date where payment conditions are met. Mr. Sharif Burra, Chief Executive Officer of YANCOAL AUS, stated, "The proposed acquisition of an 80% interest in the Kestrel Coal Mine strongly aligns with YANCOAL AUS's strategic portfolio planning, adding another long-life, high-quality coal asset to our portfolio. Kestrel will contribute significant volumes of high-quality metallurgical coal, supporting YANCOAL AUS's scale expansion and enhancing our diversification. This acquisition enables us to create greater value for shareholders and reinforces YANCOAL AUS's position as a leading Australian coal producer. We also look forward to working closely with our joint venture partner, the Mitsui Group, which holds the remaining 20% interest in Kestrel, as co-owners to continue creating value for the mine, local communities, and stakeholders." Furthermore, the company has applied for the resumption of trading of its shares on the Stock Exchange, effective from 9:00 a.m. on April 15, 2026.