Business Description

1. Description of Business, Basis of Presentation (a) Nature of operations Coronado Global Resources Inc. (together with its subsidiaries, the “Company” or “Coronado”) is a global producer, marketer, and exporter of a full range of metallurgical coals, an essential element in the production of steel. The Company has a portfolio of operating mines and development projects in Queensland, Australia and in the states of Pennsylvania, Virginia and West Virginia in the United States, or U.S. For details of the Company’s capital structure, refer to Note 5 “Capital Structure” for further information. (b) Basis of Presentation The Consolidated Financial Statements have been prepared in accordance with requirements of the U.S. Generally Accepted Accounting Principles, or U.S. GAAP, and are presented in U.S. dollars, unless otherwise stated. The Consolidated Financial Statements include the accounts of the Company and its subsidiaries. The Company, or Coronado, are used interchangeably to refer to Coronado Global Resources Inc. or Coronado Global Resources Inc. and its subsidiaries, as appropriate to the context. All intercompany balances and transactions have been eliminated on consolidation. (c) Certain Significant Risks and Uncertainties External factors, including general economic conditions, international events and circumstances, competitor actions, governmental actions and regulations are beyond the Company’s control and can cause fluctuations in demand for coal and volatility in the price of commodities. This in turn may adversely impact the Company’s future operating results and purchase or investment opportunities in the coal mining industry. Concentration of customers The Company has a credit policy that establishes procedures to determine creditworthiness and credit limits for trade customers and counterparties in the over-the-counter coal market. Generally, credit is extended based on an evaluation of the customer’s financial condition. Collateral is not generally required, unless credit cannot be established. Payments from customers are generally due between 21 to 90 days after invoicing. Invoicing usually occurs after shipment or delivery of goods. The Company had certain customers whose accounts receivable balances individually represented 10 % or more of the Company’s total accounts receivable, or whose revenue individually represented 10 % or more of the Company’s total revenue. The following table summarizes any customer whose revenue individually represented 10 % or more of the Company’s total coal revenues in the year ended December 31, 2025. Year Ended December 31, 2025 2024 2023 Tata Steel 18% 20% 21% ArcelorMittal 12% 9% 10% For the year ended December 31, 2025, $ 985.0 million, or 51.1 %, of total coal revenues were attributable to five customers. In comparison, for the year ended December 31, 2024, $ 1,330.4 million, or 54.6 %, of total coal revenues were attributable to five customers, and for the year ended December 31, 2023, $ 1,509.1 million, or 53.3 %, of total coal revenues were attributable to five customers. As of December 31, 2025, the Company had four customers that accounted for $ 130.7 million, or 51.3 %, of accounts receivable. As of December 31, 2024, the Company had four customers that accounted for $ 119.2 million, or 56.9 %, of accounts receivable. The following table presents revenues as a percent of total revenue from external customers by geographic region: Year Ended December 31, 2025 2024 2023 Asia 50% 59% 50% North America 16% 14% 11% South America 10% 8% 8% Europe 9% 7% 6% Australia 6% 3% 4% Brokered sales 9% 9% 21% Total 100% 100% 100% The Company uses shipping destination as the basis for attributing revenue to individual countries. The transfer of title on brokered transactions may occur at a point that does not reflect the end usage point, therefore these sales are reflected as exports and classified as brokerage sales. Concentration of labor As of December 31, 2025, 10.7 % of the Company’s total employees are subject to the Curragh Mine Enterprise Agreement 2023. This agreement covers work carried out by permanent, full-time, temporary, and casual coal mining employees engaged by Curragh to fulfill production, maintenance and processing activities. Other than the Curragh Mine Enterprise Agreement 2023, there are no other collective bargaining agreements or union contracts covering employees of the Company.…