WHITEHAVEN COAL LIMITED — Major Shareholding Notification 2021

Sep 2, 2021

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Whitehaven Coal Limited
ACN/ARSN	124 425 396
1. Details of substantial holder (1) Name	Fritz Kundrun
ACN/ARSN (if applicable)
There was a change in the interests of the substantial holder on	1/09/2021
The previous notice was given to the company on	8/04/2021
The previous notice was dated	7/04/2021

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

	Previous notice		Present notice
Class of securities (4)	Person's votes	I Voting power (5)	Person's votes	I Voting power (5)
Ordinary shares (fully paid)	69,491,579	16.73%	57,635,049	15.58%

3. Changes In relevant interests

Particulars of each change in, or change in the nature of, a relevant Interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
7/04/2021	Fritz Kundrun	On market sale of shares by AMCI Group, LLC (Series 33)	AU\$553,614	308,472 ordinary shares (fully paid)	308,472
14/04/2021	Fritz Kundrun	On market sale of shares by AMCI Group, LLC (Series 33)	AU\$3,439,753	1,865,781 ordinary shares (fully paid)	1,865,781
26/07/2021	Fritz Kundrun	On market sale of shares by the FRI< Revocable Trust	US\$275,316	167,365 ordinary shares (fully paid)	167,365
27/07/2021	Fritz Kundrun	On market sale of shares by the FRK Revocable Trust	US\$552,461	332,635 ordinary shares (fully paid)	332,635
3/08/2021	Fritz Kundrun	On market sale of shares by the FR� Revocable Trust	US\$27,234	16,863 ordinary shares (fully paid)	16,863
6/08/2021	Fritz Kundrun	On market sale of shares by the FRK Revocable Trust	US\$7,793	4,861 ordinary shares (fully paid)	14,861
9/08/2021	Fritz Kundrun	On market sale of shares by the FRK Revocable Trust	US\$219,315	136,302 ordinary shares (fully paid)	136,302
10/08/2021	Fritz Kundrun	On market sale of shares by the FRI< Revocable Trust	US\$3,907, 165	2,341,973 ordinary shares (fully paid)	2,341,973

11/08/2021	Fritz Kundrun	On market sale of shares by the FRK Revocable Trust	US\$1,122,042	650,001 ordinary shares (fully paid)	650,001
11/08/2021	Fritz Kundrun	On market sale of shares by 2011 FRK CRT Holdings LLC	US\$56,497	32,283 ordinary shares 32,283 (fully paid)
27/08/2021	Fritz Kundrun	On market sale of shares by 2011 FRK CRT Holdings LLC	US\$382,535	223,005 ordinary shares (fully paid)	223,005
30/08/2021	Fritz Kundrun	On market sale of shares by 2011 FRK CRT Holdings LLC	US\$4,815,274	2,776,992 ordinary shares (fully paid)	2,776,992
31/08/2021	Fritz Kundrun	On market sale of shares by 2011 FRK CRT Holdings LLC	US\$3,609,561	1,999,998 ordinary shares (fully paid)	1,999,998
1/09/2021	Fritz Kundrun	On market sale of shares by 2011 FRK CRT Holdings LLC	US\$1,845,932	999,999 ordinary shares (fully paid)	999,999

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
Fritz Kundrun	Pty Ltd	Citicorp Nominees Citicorp Nominees Pty Ltd	Fritz Kundrun is trustee of the Lippe 2012 Family Trust, which is the beneficial owner of the shares and controls the disposal of the shares	590,000 Ordinary shares 590,000 (fully paid)
Fritz Kundrun	Citicorp Nominees Citicorp Nominees Pty Ltd	Pty Ltd	Fritz Kundrun controls 2011 FRK CRT Holdings LLC, which is the beneficial owner of the shares and controls the disposal of the shares	15,396,056 Ordinary shares (fully paid)	15,396,056
Fritz Kundrun	Citicorp Nominees Citicorp Nominees Pty Ltd	Pty Ltd	Fritz Kundrun controls 2009 Kundrun CRT Holdings LLC, which is the beneficial owner of the shares and controls the disposal of the shares	53,625 Ordinary shares (fully paid)	53,625
Fritz Kundrun	Citicorp Nominees Citicorp Nominees Pty Ltd	Pty Ltd	Fritz Kundrun controls Nicola Investments II LLC, which is the beneficial owner of the shares and controls the disposal of the shares	5,660,377 Ordinary shares (fully paid)	5,660,377
Fritz Kundrun	Citicorp Nominees Citicorp Nominees Pty Ltd	Pty Ltd	Fritz Kundrun controls FRK Roth IRA, which is the beneficial owner of the shares and controls the disposal of the shares	4,355,188 Ordinary shares (fully paid)	4,355,188
Fritz Kundrun	Citicorp Nominees Citicorp Nominees Pty Ltd	Pty Ltd	Fritz Kundrun holds greater than 20% of the voting power in AMCI Group, LLC (Series 33) which is the beneficial lowner of the shares and controls the disposal of the shares	31,579,803 Ordinary shares (fully paid)	31,579,803

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name ACN/ARSN and applicable)	(if	Nature of association
N/A		N/A

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Fritz Kundrun	C/- AMCI Investments Pty Ltd, Level 32 Gateway, 1 Macquarie Place, Sydney NSW 2000
2011 FRK CRT Holdings LLC	C/- AMCI Investments Pty Ltd, Level 32 Gateway, 1 Macquarie Place, Sydney NSW 2000
2009 Kundrun CRT Holdings LLC	C/- AMCI Investments Pty Ltd, Level 32 Gateway, 1 Macquarie Place, Sydney NSW 2000
Nicola Investments II LLC	C/- AMCI Investments Pty Ltd, Level 32 Gateway, 1 Macquarie Place, Sydney NSW 2000
FRK Roth IRA	C/- AMCI Investments Pty Ltd, Level 32 Gateway, 1 Macquarie Place, Sydney NSW 2000
AMCI WH LLC	C/- AMCI Investments Pty Ltd, Level 32 Gateway, 1 Macquarie Place, Sydney NSW 2000
AMCI Group, LLC (Series 33)	3rd Floor, 600 Steamboat Road, Greenwich, Connecticut 06830, USA
Citicorp Nominees Pty Ltd	Level 16, 120 Collins Street, Melbourne, Victoria, Australia

Signature

print name Fritz Kundrun capacity een sign here date 2 September 2021

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and
  trustee of an equity trust), the names could be included in an ann $(1)$ is clearly set out in paragraph 6 of the form.
• $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• $(3)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• $(5)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• $(6)$ Include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy
  of any document setting out the terms of any relevant agreement, and a statemen $(a)$
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the $(b)$

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details m $(7)$
• $(8)$ If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".
• $(9)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.