WHITEHAVEN COAL LIMITED — Major Shareholding Notification 2021

Apr 7, 2021

Form 604 Corporations Act 2001

SecUon671B

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	6/04/2021
The previous notice was given to the company on	16/11/2020

2. Previous and present voting power

The previous notice was dated

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:

16/11/2020

Class of securities (4)	Previous notice		Present notice
	Person's votes	I Voting power (5)	Person's votes	I Voting power (5)
Ordinary shares (fully paid)	79,908,119	17.74%	69,491,579	16.73%

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	P11rson's votes affected
7/01/2021	Fritz Kundrun	On market sale of shares by AMCI WHLLC	\$1,590.300	1,000,000 ordinary shares (fully paid)	1,000,000
8/01/2021	Fritz Kundrun	On market sale of shares by AMCI r#HLLC	\$679,821	423.433 ordinary shares (fully paid)	423,433
11/01/2021	Fritz Kundrun	On market sale of shares by AMCI WHLLC	\$1,637.300	1,000,000 ordinary shares (fully paid)	1,000,000
12/01/2021	Fritz Kundrun	On market sale of shares by AMCI WHLLC	\$342,399	209,611 ordinary shares (fully paid)	209,611
13/01/2021	Fritz Kundrun	On market sale of shares by AMCI WHLLC	\$4,977.300	3.000.000 ordinary shares (fully paid)	3,000,000
3/02/2021	Fritz Kundrun	On market sale or shares by AMCI WHLLC	\$1,556,700	1,000,000 ordinary shares (fully paid)	1,000,000
1/03/2021	Fritz Kundrun	orr-marl(et transfer of shares fromAMCIWH LLC toAMCI Group, LLC (Series 33)	Nil	37,537,552 ordinary shares (fully paid)	37,537,552 !

12/03/2021	Fritz Kundrun	On market sale of shares by AMCI Group, LLC (Series 33)	\$1,673,500	1,000,000 ordinary shares (fully paid)	8,225
15/03/2021	Fritz Kundrun	On market sale of shares by AMCI Group, LLC (Series 33)	\$640,565	387,728 ordinary shares (fully paid)	2,169,152
16/03/2021	Fritz Kundrun	On market sale of shares by AMCI Group, LLC (Series 33)	\$1,014,205	614,223 ordinary shares (fully paid)	2,177,811
18/03/2021	Fritz Kundrun	On market sale of shares by AMCI Group, LLC (Series 33)	\$1,690,000	1,000,000 ordinary shares (fully paid)	12,739,698
30/03/2021	Fritz Kundrun	On market sale of shares by AMCI Group, LLC (Series 33)	\$162,030	90,017 ordinary shares (fully paid)	90,017
6/04/2021	Fritz Kundrun	On market sale of shares by AMCI Group, LLC (Series 33)	\$1,245,234	691,528 ordinary shares (fully paid)	691,528

4. Present relevant interests

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

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 FRK Revocable Trust, which is the beneficial owner of the shares and controls the disposal of the shares	3,650,000 Ordinary shares (fully paid)	3,650,000
Fritz Kundrun	Citicorp Nominees Citicorp Nominees Pty Ltd	Pty Ltd	Fritz Kundrun is trustee of the Lippe 2012 Family Trust, which Lippe 2012 Family Trust, which 590,000 Ordinary shares 590,000 is the beneficial owner of the shares and controls the disposal of the shares	(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	21,428,333 Ordinary shares (fully paid)	21,428,333
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 owner of the shares and controls the disposal of the shares	33,754,056 Ordinary shares (fully paid)	33,754.056

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 (if and applicable)		Nature of association
N/A		IN/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
Claudine K LLC	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

Fritz Kundrun print name			capacity
sign here	N. Muy		date	7 April 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 $(1)$ If there are a number or substantial notices with similar or related relevant interests by, a corporation and its related sorporations, or are mainly similar, and the relevant interests of a group of persons are essentiall they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members and addresses of members is clearly set out in paragraph 6 of the form.
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$
• $(6)$ 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 $(b)$ dry qualification of the period of a person to enclosed evidence and environmental and enclosed on the reding period

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 $(7)$ Details of the consideration must include any and an benefits, money and other, that any person moneymous electric included with a relevant included on the happening or not of a
become entitled to receive in relation to th are not paid directly to the person from whom the relevant interest was acquired.

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". $(8)$

Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. $(9)$