Anglo Pacific Group PLC noted the proposed addition of three new progressive royalty tiers announced by the Queensland Government on 21 June 2022. The new higher royalty tiers are expected to apply to the royalty the Group receives from the Kestrel mine and are intended to take effect from 1 July 2022. The previous amendment to the Queensland coal royalty regime in 2012, saw a significant increase to the weighted average royalty rate being applied to the Group's Kestrel royalty interest.

This amendment is expected to have the same impact from the effective date.