WHITEHAVEN COAL LIMITED — Major Shareholding Notification 2022

Nov 1, 2022

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

Whitehaven Coal Ltd To Company Name/Scheme 124 425 396 ACN/ARSN 1. Details of substantial holder (1) First Sentier Investors Holdings Pty Limited ACN 630 725 558 and its related bodies corporate listed in annexure A Name 630 725 558 ACN/ARSN (if applicable) 31/10/2022 The holder became a substantial holder on

2. Details of 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 on the date the substantial holder became a substantial holder are as follows:	an associate(2)had a relevant interest(3)in on the date the substantial holder became a substantial holder are as follows:	an associate(2)had a relevant interest(3)in on the date the substantial holder became a substantial holder are as follows:	an associate(2)had a relevant interest(3)in on the date the substantial holder became a substantial holder are as follows:
Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
Fully Paid ordinary shares	46,710,090	46,744,696	5.03%

*Note these securities are comprised of 8,922,921 shares in which First Sentier Investors Holdings Pty Limited and its subsidiaries have voting power and 37,821,775 securities in which First Sentier Investors Holdings Pty Limited's ultimate parent, Mitsubishi UFJ Financial Group, Inc. on and from 31 October 2022, has informed it that it has voting power prior to the date of this notice.

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial

holder became a substantial holder are as follows:	holder became a substantial holder are as follows:	holder became a substantial holder are as follows:
Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	Relevant interest under paragraph 608(1)(b) and/or 608(1)(c) of the Corporations Act 2001 (Cth), being a relevant interest arising from having the power to control the exercise of the right to vote attached to securities and/or to control the exercise of the power to dispose of securities in its capacity as investment manager, as provided for under its investment mandates. In addition, if any OTC derivatives, warrants or other securities (other than ordinary shares or ordinary units (as applicable)) are referred to below in this row, the relevant interest in respect of those securities arises under subsection 608(8) being an accelerated relevant interest held in the same capacity.	8,381,665 Fully Paid ordinary shares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	Relevant interest under paragraph 608(1)(b) and/or 608(1)(c) of the Corporations Act 2001 (Cth), being a relevant interest arising from having the power to control the exercise of the right to vote attached to securities and/or to control the exercise of the power to dispose of securities in its capacity as investment manager, as provided for under its investment mandates. In addition, if any OTC derivatives, warrants or other securities (other than ordinary shares or ordinary units (as applicable)) are referred to below in this row, the relevant interest in respect of those securities arises under subsection 608(8) being an accelerated relevant interest held in the same capacity.	541,256 Fully Paid ordinary shares
Mitsubishi UFJ Financial Group	Mitsubishi UFJ Financial Group Inc. (MUFG) owns 100% of First Sentier Investors Holdings Pty Limited (indirectly) and has informed First Sentier Investors Holdings Pty Limited that it has a relevant interest in the shares noted in this column. Accordingly, First Sentier Investors Holdings Pty Limited has a relevant interest or voting power in those shares pursuant to section 608(3) or section 12(2)(a) of the Corporations Act (as relevant). MUFG has not provided any further details of that relevant interest - accordingly no transaction information is recorded in Appendix B or holder information is recorded in Section 4. Reference is made to any subsequent filing of MUFG which will reflect this interest.	37,821,775 Fully Paid ordinary shares

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Class and number of securities
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	Citibank N A Hong Kong		1,652,905 Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	Citicorp Nominees Pty Limited (Australia)		3,709,643 Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	HSBC Bank Australia Limited		2,792,966 Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	Northern Trust Company		226,151 Fully Paid ordinary shares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	Citicorp Nominees Pty Limited (Australia)		541,256 Fully Paid ordinary shares
Mitsubishi UFJ Financial Group	Mitsubishi UFJ Financial Group		37,821,775 Fully Paid ordinary shares

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the

substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration (9)	Consideration (9)	Class and number of securities
		Cash	Non-cash
See annexure B to this notice

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
ACN 133 312 017 First Sentier Investors Realindex Pty Ltd	A wholly-owned subsidiary, and therefore related body corporate, of First Sentier Investors Holdings Pty Limited
ACN 114 194 311 First Sentier Investors (Australia) IM Ltd	A wholly-owned subsidiary, and therefore related body corporate, of First Sentier Investors Holdings Pty Limited
ACN 006 464 428 First Sentier Investors (Australia) RE Ltd	A wholly-owned subsidiary, and therefore related body corporate, of First Sentier Investors Holdings Pty Limited
Mitsubishi UFJ Financial Group	Each company referred to is an associate of Mitsubishi UFJ Financial Group, Inc. under section 12 of the Corporations Act

7. Addresses

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

The addresses ofpersons named in this form are as follows:
Name	Address
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	Level 5, Tower Three International Towers Sydney, 300 Barangaroo Avenue, Barangaroo NSW 2000, Australia
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	Level 5, Tower Three International Towers Sydney, 300 Barangaroo Avenue, Barangaroo NSW 2000, Australia
First Sentier Investors (Australia) RE Ltd ACN 006 464 428	Level 5, Tower Three International Towers Sydney, 300 Barangaroo Avenue, Barangaroo NSW 2000, Australia
Mitsubishi UFJ Financial Group	2-7-1, Marunouchi, Chiyoda-ku, Tokyo 100-8330, Japan

Signature

print name sign here	capacity Rachel Lim Company Secretary
	date 02/11/2022

Annexure A

31/10/2022

This is Annexure A referred to in Form 603, Notice of initial substantial holder dated

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Rachel Lim

Company Secretary

Dated the 02/11/2022

SCHEDULE

First Sentier Investors (Malta) Limited (Company Code C41267) First Sentier Investors (Malta) Holdings Limited (Company Code C41260) CFSIM Limited (Company No. 00153197) First Sentier Investors (Luxembourg) EDIF II GP S.Á.R.L (Company No. B204413) First Sentier Investors (Australia) Services Pty Limited (ACN 624 305 595) First Sentier Investors (Australia) IM Ltd (ACN 114 194 311) First Sentier Investors (Australia) Infrastructure Holdings Ltd (ACN 085 313 926) First Sentier Investors (Australia) Infrastructure Managers Pty Ltd (ACN 101 384 294) First Sentier Investors Strategic Investments Pty Limited (ACN 625 765 399) First Sentier Investors (Australia) RE Ltd (ACN 006 464 428) First Sentier Investors Asia Holdings Limited (ACN 054 571 701) First Sentier Investors Realindex Pty Ltd (ACN 133 312 017) First Sentier Investors (Luxembourg) EDIF I Feeders MC S.A.R.L (Company No. B134314) First Sentier Infrastructure Managers (International) Limited (Company No. 298444) First Sentier Investors (UK) IM Limited (Company No. SC047708) First Sentier Investors (UK) Services Limited (Company No. 03904320) First Sentier Investors (Hong Kong) Limited (CR No. 0206616) First Sentier Investors (Ireland) Limited (Company No. 629188) First Sentier Investors (Japan) Limited (Company No. 0104-01-093090) First Sentier Investors (Singapore) (COMPANY NO. 196900420D) First Sentier Investors Europe Holdings Limited (Company No. 03904310) First Sentier Investors (UK) Funds Limited (Company No. 02294743) First Sentier Investors (US) LLC (File Number 546 9442) First Sentier Investors (Luxembourg) EDIF I MC S.A.R.L (Company No. B128117) First Sentier Investors (Singapore) Holdings Limited (Registration No. 199901706Z) First Sentier Investors International IM Limited (Company No. SC079063) First Sentier Investors (Hong Kong) Nominees Limited (CR NO. 0206615) FSIB LTD (Registration No. 26193) Mitsubishi UFJ Financial Group, Inc (Registration No. 0100-01-073486) Mitsubishi UFJ Trust and Banking Corporation (Registration No. 0100-01-008770) SI Holdings Limited (Company No. SC109439) First Sentier Investors (Hong Kong) AMC Limited (CR NO. 0580652) First Sentier Investors (Luxembourg) EDIF III GP S.A.R.L (Company No. B128117)

Annexure B

31/10/2022

This is Annexure B referred to in Form 603, Notice of initial substantial holder dated

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Rachel Lim

Company Secretary

Dated the 02/11/2022

Holder of relevant Interest	Date of Acquisition	Consideration Cash	Consideration non-cash	Class and number of securities affected	Class and number of securities affected
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	05/07/2022	48,947		10,134	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	07/07/2022	14,185		2,999	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	11/07/2022	9,121		1,799	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	12/07/2022	24,298		4,709	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	12/07/2022	10,516		2,038	Fully Paid ordinary shares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	13/07/2022	1,393,650		259,617	Fully Paid ordinary shares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	14/07/2022	618,208		107,933	Fully Paid ordinary shares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	15/07/2022	1,049,131		185,120	Fully Paid ordinary shares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	21/07/2022	973,470		150,000	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	21/07/2022	125,646		20,364	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	22/07/2022	30,344		4,942	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	26/07/2022	649,750		100,270	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	28/07/2022	7,259		1,136	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	01/08/2022	46,802		7,382	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	03/08/2022	424,388		66,104	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	08/08/2022	30,658		5,067	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	08/08/2022	67,724		11,193	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	08/08/2022	26,919		4,449	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	08/08/2022	178,220		29,455	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	08/08/2022	311,449		51,474	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	09/08/2022	6,587		1,087	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	10/08/2022	1,691,063		265,473	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	10/08/2022	26,493		4,159	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	18/08/2022	20,444		2,950	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	22/08/2022	10,903		1,446	Fully Paid ordinary shares

First Sentier Investors (Australia) IM Ltd ACN 114 194 311	26/08/2022	427,672		54,157	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	30/08/2022	37,769		4,686	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	01/09/2022	5,050		640	Fully Paid ordinary shares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	08/09/2022	1,266,960		150,000	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	14/09/2022	123,409		14,553	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	16/09/2022	15,508		1,797	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	16/09/2022	29,549		3,424	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	16/09/2022	282,330		32,715	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	20/09/2022	89,830		10,409	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	21/09/2022	126,945		14,168	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	23/09/2022	58,006		6,305	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	23/09/2022	29,826		3,242	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	23/09/2022	250,406		27,218	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	23/09/2022	117,548		12,777	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	23/09/2022	20,764		2,257	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	26/09/2022	7,799		986	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	27/09/2022	66,907		7,918	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	27/09/2022	81,661		9,664	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	27/09/2022	7,884		933	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	27/09/2022	58,364		6,907	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	27/09/2022	7,368		872	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	27/09/2022	8,999		1,065	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	27/09/2022	16,917		2,002	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	28/09/2022	6,427		732	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	29/09/2022	78,351		8,535	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	06/10/2022	57,049		5,454	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	10/10/2022	5,821		557	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	11/10/2022	1,094,688		105,563	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	11/10/2022	91,370		8,811	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	11/10/2022	22,482		2,168	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	12/10/2022	79,833		7,475	Fully Paid ordinary shares

First Sentier Investors Realindex Pty Ltd ACN 133 312 017	13/10/2022	9,084		857	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	17/10/2022	218,722		20,252	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	26/10/2022	33,748		3,545	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	31/10/2022	9,581		1,061	Fully Paid ordinary shares