Whitehaveo 6oaI Liited w|C

w|ite|o.er Cuol |iaiteJ ,w|C is o lSw uoseJ cuol

u|uJuce| wit| uue|otiurs orJ Je.eluuaert u|ujects ir t|e
CurreJo| Bosir, t|e |urte| Volle] orJ 0ueerslorJ. lt
u|uJuces seaisut cu|ir orJ |lC cuol u| eruu|t ao||ets
orJ t|e|aol cuol u| eruu|t orJ Juaestic ao||ets. w|C olsu
|os o 1/.3 s|o|e|ulJir ir /SXlisteJ cuol cuauor],
Cuolwu||s |iaiteJ.
C|oi|aor M Voile
CE0lM0 T |oo|t]
Sec|eto|] / |e||ir, T Bu|t
/uJitu| E|rst 8 Yuur
Teleu|ure. -1 Z c50/ 9/00
weusite. www.w|ite|o.ercuol.cua.ou
/JJ|ess. Z59 Ceu|e St
S]Jre] lSw Z000
Reist|] weusite. www.cuauute|s|o|e.cua.ou
8trategy AoaIysis os ot 0.11.Z01Z
w|ite|o.er is ucuseJ ur cuol u|uJuctiur ir t|e CurreJo|
Bosir ircluJir Je.eluuaert u t|e lo||ou|i, Vic|e|] orJ
Moules C|ee| aires. we eruect soles u +.9atuo u] |Y1Z,
uut cu||ert |uwt| is curst|oireJ suaew|ot u] |oil orJ uu|t
curestiur. w|C |os or 11 sto|e ir t|e lewcostle Cuol
lr|ost|uctu|e C|uuu w|ic| will u|u.iJe rew uu|t couocit]. lr
t|e lure| te|a, w|C will ucus ur erterJir t|e aire lie
u we||is C|ee| orJ Je.eluuir t|e Vic|e|] aire.
FioaociaI Fositioo
011 SMil 01Z SMil
Cos| Z0c 51+
lr.ertu|ies Z 3c
Recei.oules 9Z /0
Cu||ert /ssets +Z /+Z
|ireJ /ssets 93/ Z95+
lrtoriules 50 103
Tutol /ssets 1+Z +3ZZ
|o]oules 15+ Z53
S|u|tTe|a 0eut +9 Z9+
Cu||ert |iouilities ZZ5 5/
|urTe|a 0eut 1Z9 195
Tutol |iouilities +ZZ 911
Tutol Euit] 10+1 3+11
6ooseosus uut u Z orol]sts
Cu||ert Z013E Z01+E
||icelEo|rirs 3+.+ 533.c5 /3./
0i.iJerJ YielJ 0.c 0.3+ 0.+c
E|S,S 0.1 0.01 0.05
0|S,S 0.03 0.01 0.0Z
Mkt 6ap MiI Iovesteot 8tyIe Last Frice 8hares Issued I68 Iodustry roup
S3,519

3.+/ 101+.1 Ere|]
- - - - 3.30 +./9 5.Z3 /.15 /.35 .13 /rruol ||ice |i|
- - - - 1.+Z .c9 1.30 +.01 +.c5 Z./0 |uw
5.3
3.5
1.c
0oil] Cluse
S8|l/SX /ll 0|Js
Sectu| /.e|oe
5Z w| |i|l|uw
.13lZ./0
109.
5+.c
T|oJir Vuluae ,Mil
- - - 00/ 00c 009 010 011 01Z 1Z1Z FerIoraoce
- - - 0.00 113.c/ Zc.3Z 5.1 ZZ.1 Z1.5+ Z/.50 Tutol Retu|r
- - - 0.00 1Z5.99 .1c +Z.39 10.+5 1+.5Z - -l Mo||et
- - - 00/ 00c 009 010 011 01Z Cu||ert aIuatioo
- - - Z.19 1Z+.51 1.+5 +1./0 39.Z +1.Z1 1.Z ||icelEo|rirs
- - - 1c.c3 1Z.Zc 1Z.11 13.0 13./3 1Z.99 13.99 Mo||et |lE
- - - .10 .39 Z.0 5.5 +.3 3.c5 3.19 ||icelSoles
- - - Z./ 3.5c 1.// Z.3Z Z.// 1.Z3 1.0+ ||icelBuu|
- - - 100.ZZ 111.+c 10./5 Z5.05 Z1.3+ 5./ 31.09 ||icelCos| |luw
- - - /5 1/5Z 1Z/9 Z3/0 Zc/9 +Z05 3519 Mo||et Cou SMil
- - - 0.00 0.3c Z./1 1.1/ 1.Z/ 1Z.// 0.0 0i.iJerJ YielJ
- - - 00/ 00c 009 010 011 01Z FioaociaIs
- - - 103 Z5Z +c9 +0/ ZZ 1c - 0ue|otir Re.erue SMil
- - - 9.30 c.91 3Z.+Z Z9.c+ Zc.15 1Z.05 - EBlT0/ Mo|ir
- - - 10 ZZ 13Z c9 13+ 35 - EBlT SMil
- - - 9.30 c.91 Z/.05 Z1.9/ Z1.5/ 5.3 - EBlT Mo|ir
- - - Z+ 13 // 55 /3 5c - l|/T Beu|e /us SMil
- - - Z+ 5Z Z++ 115 10 3 - Reuu|teJ let ||uit SMil
- - - /.9c 3.59 19.09 11.51 1+.c5 10.0/ - Eo|rirs |e| S|o|e (
- - - 30Z 35/ +0+ +/5 +9+ 5/+ - S|o|es Mil
- - - 0./c 1.Z5 1./c Z.0/ Z.11 3.3Z - Buu| Volue |e| S|o|e S
- - - 5 1Z 1Z3 +0 /9 /1 - 0ue| Cos| |luw SMil
- - - 55 +1 133 Z50 Z3/ Z/9 - Cou SuerJir SMil
- - - +c 59 0 Zc5 c 9Z - ||ee Cos| |luw SMil
- - - 00/ 00c 009 010 011 01Z FroIitabiIity
- - - /.c Z.91 9.5 5.01 /.0 Z.1Z - Retu|r ur /ssets
- - - 9.5+ Z.+ 10./0 5.39 /.0+ 1./Z - Retu|r ur Euit]
- - - Z3.Z9 5.1Z 15.c0 13.55 11./c 9.35 - let Mo|ir
- - - Z9.3/ +0.+3 +c.0 30.10 +Z.55 1+.30 - /sset Tu|ru.e|
- - - 139.5Z 1Z/.3+ 139.31 13Z.0/ 1+0.5+ 1Z.9 - |irorciol |e.e|oe
- - - 00/ 00c 009 010 011 01Z FioaociaI heaIth
- - - Z3 5/ ++ 1/3 /9 ++ - wu||ir Couitol SMil
- - - 5+ 3Z +5 5c 1Z9 195 - |urTe|a 0eut SMil
- - - Z5Z +90 /Z3 10Z3 10+1 3+11 - Tutol Euit] SMil
- - - Z1.99 10.3+ /.3Z +.51 Z./9 0./1 - let 0eutlEuit]
key ates
|iscol Yeo| ErJ 30 Jur Z01Z |istir 0ote 01 Jur Z00/
/CM 01 lu. Z01Z 0Rl| lure
ivideod history
|irol lrte|ia
0i.iJerJ Er 0ote 11 Seu Z01Z 19 /u| Z01Z
0i.iJerJ |o] 0ote Zc Seu Z01Z 0+ Mo] Z01Z
0|S ( 3.00 50.00
||or|ir 100 100
Iodustry peers by Market 6ap
M|t Cou SMil Re. SMil |lE R0E
lew |uue Cu|uu|ot... 33+/.1/ / 19.5 /.
wos|irtur |. Suul... 3Z1/.+/ / 1c.Z .03
/uilo Resuu|ces |i... 11+0./ 19/ 3+.Z5 0.+
Major 8harehoIders lu. u s|o|es (Mil[
/stur Resuu|ces lr.estaerts |t] |tJ Z1/
|RC w|ite|o.er |ulJirs BV /3
|ors MerJe /0
Iovesteot etaiI ||irt 0ote. Z01ZZ01Z |oe 1 u Z
Reu|eserts irorciol ]eo| tu Jote t|e Jo] ote| lost irorciol ]eo| tu o Jo] ueu|e uuulicotiur Jote.
Z01Z Mu|rirsto|, lrc. /ll |i|ts |ese|.eJ. T|e Joto orJ curtert curtoireJ |e|eir o|e rut uo|orteeJ tu ue occu|ote, cuaulete u| tiael]. leit|e| Mu|rirsto|, ru| its oiliotes ru| t|ei| curtert u|u.iJe|s will |o.e or] liouilit] u| use u|
Jist|iuutiur u or] u t|is iru|aotiur. Tu t|e ertert t|ot or] u t|e curtert ouu.e curstitutes oJ.ice, it is ere|ol oJ.ice t|ot |os ueer u|euo|eJ u] Mu|rirsto| /ust|olosio |t] |tJ /Bl. 95 090 5 5++, /|S|. Z+0c9Z ,o suusiJio|] u Mu|rirsto|,
lrc., wit|uut |ee|erce tu ]uu| uujecti.es, irorciol situotiur u| reeJs. Beu|e octir ur or] oJ.ice, ]uu s|uulJ cursiJe| t|e ouu|uu|ioteress u t|e oJ.ice orJ we |ecuaaerJ ]uu uutoir irorciol, leol orJ torotiur oJ.ice ueu|e ao|ir or]
irorciol ir.estaert Jecisiur. l ouulicoule ir.estu|s s|uulJ uutoir t|e |ele.ort u|uJuct Jisclusu|e stoteaert orJ cursiJe| it ueu|e ao|ir or] Jecisiur tu ir.est. Suae aote|iol is cuu]|i|t orJ uuulis|eJ urJe| licerce |ua /SX 0ue|otiurs |t]
|iaiteJ /Cl 00+ 5Z3 /cZ ,'/SX0'. 0lSC|0SuRE. Eaulu]ees ao] |o.e or irte|est ir t|e secu|ities JiscusseJ ir t|is |euu|t. |leose |ee| tu uu| |irorciol Se|.ices CuiJe ,|SC u| au|e iru|aotiur ot www.au|rirsto|.cua.oulsls.uJ.

Iovesteot etaiI iscIosure

6urreocy
/ll iu|es u| stuc|s listeJ ur /ust|olior Stuc| Erc|ore
o|e ir /ust|olior Jullo|s orJ oll iu|es u| stuc|s listeJ ur
lew ZeolorJ Stuc| Erc|ore o|e ir lew ZeolorJ Jullo|s.
usioess escriptioo
/ u|ie Jesc|iutiur u t|e cuauor]'s uue|otiurs orJ
octi.ities. T|is iru|aotiur is uuJoteJ e.e|] sir aurt|s u|
ur t|e |eleose u iauu|tort iru|aotiur ouuut t|e cuauor].
Market 6apitaIitatioo $ iI
T|e ao||et .olue u t|e cuauor]'s euit] couitol. T|is is
colculoteJ u] aultiul]ir t|e ruaue| u cuaaur s|o|es u]
t|e cu||ert u|ice. 0t|e| closses u euit] suc| os
u|ee|erce s|o|es o|e ru|aoll] rut ircluJeJ, erceut ir
ce|toir coses w|e|e t|e s|o|es o|e 'uosiu|Jiro|]'. T|e
aust u|uairert eroaule u t|is is lews Cu|uu|otiur
,lwS, w|e|e we Ju ircluJe t|ei| u|ee||eJ liaiteJ .utir
u|Jiro|] s|o|es ir uu| colculotiur u ao||et .olue.
8tyIe
T|e Mu|rirsto| St]le cursists u rire coteu|ies t|ot
u|u.iJe or u.e|.iew u t|e ir.estaert st|ote]. T|e st]le is
cuau|iseJ u o cuauirotiur u ao||et couitoli/otiur u t|e
secu|it] orJ t|e ir.estaert st]le ,.olue, ulerJ, u| |uwt|.
Last Frice
Stuc| u|ice s|uwr |eu|eserts t|e ao||et u|ice u t|e stuc|
os u t|e aust |ecert cluse u t|oJir os ot t|e |eleose Jote
ruteJ ot t|e tuu u t|e ir.estaert Jetoil uoe.
8hares Issued
Cu||ert ruaue| u u|Jiro|] s|o|es listeJ ur t|e
/ust|oliorllew ZeolorJ Stuc| Erc|ore.
8ector
BoseJ ur StorJo|J 8 |uu|'s Cluuol lrJust|] Clossiicotiur.
/ll cuauories listeJ ur t|e /ust|oliorllew ZeolorJ Stuc|
Erc|ore o|e |uuueJ irtu ure u Z+ irJust|] sectu|s. T|is
clossiicotiur is useJ tu cuauute sectu| o.e|oes orJ
irJust|] uee|s.
FerIoraoce
Tutol Retu|r |eu|eserts s|o|e|ulJe|s' oirs |ua o stuc|
u.e| o i.er ue|iuJ u tiae ,YT0, ure aurt|, t||ee aurt|,
ure, t||ee, orJ i.e ]eo|. Tutol |etu|r ircluJes uut|
couitol oirs orJ lusses orJ Ji.iJerJ uo]aerts. lt is
colculoteJ u] to|ir t|e c|ore ir t|e stuc|'s u|ice os u
t|e cluse u t|oJir u t|e |esuecti.e ue|iuJ, ossuair t|e
|eir.estaert u oll Ji.iJerJs, t|er Ji.iJir u] t|e iritiol
stuc| u|ice, orJ eru|essir t|e |esult os o ue|certoe.
Retu|rs u| ue|iuJs lure| t|or ure ]eo| o|e orruoli/eJ.
Retu|rs Ju rut ircluJe u|u|e|oe cuaaissiur u| t|e eects
u torotiur.
8trategy AoaIysis
Mu|rirsto| /rol]sts' .iew u t|e cuauor]'s st|ote]
uoseJ ur t|e lotest irorciol |euu|t.
FioaociaIs
Re.erue orJ Mo|ir lire iteas will JeuerJ ur t|e t]ue u
cuauor] selecteJ - i.e. lrJust|iol, Bor|, lrsu|orce,
||uue|t] u| |isteJ lr.estaert Cuauor]. let ||uit SMil
|eu|eserts ret uue|otir u|uit ote| tor, airu|ities,
u|ee|erce Ji.iJerJs, siriicort, orJ rur|ecu||ir iteas
,l|/T. Eo|rirs |e| S|o|e S is l|/T Ji.iJeJ u] t|e
wei|teJ o.e|oe ruaue| u u|Jiro|] s|o|es ur issue
Ju|ir t|e ]eo|. Buu| Volue |e| S|o|e S is o cuauor]'s
cuaaur stuc| euit] os it ouueo|s ur o uolorce s|eet
Ji.iJeJ u] t|e ruaue| u s|o|es uutstorJir. 0ue| Cos|
|luw SMil is ret cos| luw ote| uo]ir suuulie|s,
eaulu]ees, irte|est eruerse orJ tor uoiJ |ua |eceiuts
|ua custuae|s, Ji.iJerJs orJ irte|est |ecei.eJ. Cou
SuerJir S Mil is aure] suert tu ocui|e u| uu|oJe
u|]sicol ossets suc| os uuilJirs orJ aoc|ire|]. ||ee Cos|
|luw SMil is t|e oauurt u cos| t|ot o cuauor] |os let
u.e| ote| it |os uoiJ oll u its eruerses, ircluJir
ir.estaerts ,0ue| Cos| |luw airus Cou SuerJir orJ
Ji.iJerJs.
Avg oo. oI 8hares
T|e wei|teJ o.e|oe ruaue| u u|Jiro|] s|o|es Ju|ir t|e
irorciol ]eo|. T|is iu|e is useJ tu colculote uosic
eo|rirs ue| s|o|es ,E|S.
FroIitabiIity
Retu|r ur /ssets ,R0/ is t|e ue|certoe o cuauor]
eo|rs ur its ossets ir o i.er ]eo|. lt is aeosu|eJ u]
Ji.iJir l|/T ueu|e ouru|aols u] tutol ossets. Retu|r ur
Euit] ,R0E is t|e ue|certoe o cuauor] eo|rs ur its
tutol euit] ir o i.er ]eo|. T|e colculotiur is l|/T ueu|e
ouru|aols Ji.iJeJ u] s|o|e|ulJe| euit]. let Mo|ir is
/ aeosu|e u u|uitouilit] orJ is euol tu l|/T Ji.iJeJ u]
|e.erues |ua t|e soae ue|iuJ. /sset Tu|ru.e| |eu|eserts
|uw aor] Jullo|s ir |e.erue o cuauor] |os ere|oteJ ue|
eoc| Jullo| u ossets. lt is colculoteJ u] Ji.iJir tutol
|e.erues u| t|e ue|iuJ u] tutol ossets u| t|e soae ue|iuJ.
|irorciol le.e|oe is colculoteJ u] Ji.iJir tutol ossets u]
tutol s|o|e|ulJe|s' euit].
FioaociaI Fositioo
Curtoirs o suaao|] u t|e lotest uolorce s|eet.
FioaociaI heaIth
wu||ir Couitol SMil is cu||ert ossets airus cu||ert
liouilities. wu||ir couitol aeosu|es |uw auc| ir liuiJ
ossets o cuauor] |os o.oiloule tu uuilJ its uusiress.
|urTe|a 0eut SMil ircluJes luors orJ uuliotiurs wit| o
aotu|it] u lure| t|or ure ]eo|, usuoll] occuauorieJ u]
irte|est uo]aerts. Tutol Euit] SMil is uwre|s|iu irte|est
ir o cu|uu|otiur ir t|e u|a u cuaaur stuc| u| u|ee||eJ
stuc|. lt olsu |ee|s tu tutol ossets airus tutol liouilities, ir
w|ic| cose it is olsu |ee||eJ tu os s|o|e|ulJe|'s euit] u|
ret wu|t| u| uuu| .olue. 0eutleuit] |otiu is euol tu
s|u|tte|a orJ lurte|a Jeut airus cos| Ji.iJeJ u]
cuaaur s|o|e|ulJe|s' euit].
aIuatioo
||icelEo|rirs ,|E is t|e cu||ert u|ice Ji.iJeJ u] t|e
cuauor]'s t|oilir 1Zaurt| eo|rirs ue| s|o|e. ||icelBuu|
,|B is t|e aust |ecert stuc| u|ice Ji.iJeJ u] t|e aust
|ecert uuu| .olue ue| s|o|e. ||icelSoles ,|S is t|e cu||ert
u|ice Ji.iJeJ u] t|e cuauor]'s soles ue| s|o|e u.e| t|e
t|oilir 1Z aurt|s. ||icelCos| |luw ,|C is t|e aust |ecert
u|ice Ji.iJeJ u] t|e cos| luw ue| s|o|e u t|e lotest iscol
]eo|.
key ates
|iscol Yeo| ErJ is t|e Jote ir w|ic| t|e cuauor] cluses its
uuu|s u| t|e u|e.iuus 1Zaurt| ue|iuJ u.e| w|ic| o
cuauor] uuJets its suerJir. /CM is t|e orruol cuauor]
ot|e|ir, usuoll] |elJ ot t|e erJ u eoc| iscol ]eo|, ot
w|ic| t|e u|e.iuus ]eo| orJ t|e uutluu| u| t|e utu|e o|e
JiscusseJ orJ Ji|ectu|s o|e electeJ u] cuaaur
s|o|e|ulJe|s. |istir 0ote Jeires t|e Jote t|e cuauories
s|o|e u|ice wos i|st uuteJ ur t|e stuc| erc|ore. 0R| is
t|e Ji.iJerJ |eir.estaert ulor ue|eJ u] suae
cu|uu|otiurs eroulir s|o|e|ulJe|s tu outuaoticoll]
|eir.est cos| Ji.iJerJs orJ couitol oirs Jist|iuutiurs,
t|e|eu] occuaulotir au|e stuc| wit|uut uo]ir u|u|e|oe
cuaaissiurs.
Iodustry Feers by Market 6ap
T|is ircluJes |e] stots ur t||ee u t|e cuauor]'s uee|s
t|ot uue|ote ir t|e soae irJust|] orJ |o.e siailo| ao||et
couitoli/otiur.
6ooseosus
Cu||ert,lotest octuol ||icelEo|rirs, 0i.iJerJ YielJ, E|S
orJ 0|S o|e u|u.iJeJ u| |ee|erce. |u|ecosts o|e irJicoteJ
u] 'E' orJ o|e o.oiloule u| u|wo|J ]eo|s url]. But| octuol
orJ u|ecost E|S o|e u|eserteJ ur o u|euuJwill
oau|ti/otiur uosis.
ivideod history
0i.iJerJ Er0ote is t|e i|st Jo] u t|e erJi.iJerJ ue|iuJ.
l or ir.estu| Jues rut uwr t|e stuc| ueu|e t|e erJote, |e
u| s|e will ue ireliiule u| t|e Ji.iJerJ uo]uut. 0i.iJerJ
|o] 0ote is t|e Jote ur w|ic| t|e Ji.iJerJ will octuoll] ue
uoiJ tu s|o|e|ulJe|s. 0|S ( is Tutol Ji.iJerJ u| t|e ]eo|,
Ji.iJeJ u] t|e ruaue| u s|o|es |or|eJ u| Ji.iJerJ.
||or|ir s|uws t|e ue|certoe u t|e Ji.iJerJ w|ic|
curtoirs o Ji.iJerJ iauutotiur c|eJit.
Major 8harehoIders
T|e 3 lo|est s|o|e|ulJe|s ,irJi.iJuols u| cuauories orJ
t|e ruaue| u .utir s|o|es t|e] o|e ertitleJ tu.
Iovesteot etaiI ||irt 0ote. Z0 0ec Z01Z |oe Z u Z
Z01Z Mu|rirsto|, lrc. /ll |i|ts |ese|.eJ. T|e Joto orJ curtert curtoireJ |e|eir o|e rut uo|orteeJ tu ue occu|ote, cuaulete u| tiael]. leit|e| Mu|rirsto|, ru| its oiliotes ru| t|ei| curtert u|u.iJe|s will |o.e or] liouilit] u| use u|
Jist|iuutiur u or] u t|is iru|aotiur. Tu t|e ertert t|ot or] u t|e curtert ouu.e curstitutes oJ.ice, it is ere|ol oJ.ice t|ot |os ueer u|euo|eJ u] Mu|rirsto| /ust|olosio |t] |tJ /Bl. 95 090 5 5++, /|S|. Z+0c9Z ,o suusiJio|] u Mu|rirsto|,
lrc., wit|uut |ee|erce tu ]uu| uujecti.es, irorciol situotiur u| reeJs. Beu|e octir ur or] oJ.ice, ]uu s|uulJ cursiJe| t|e ouu|uu|ioteress u t|e oJ.ice orJ we |ecuaaerJ ]uu uutoir irorciol, leol orJ torotiur oJ.ice ueu|e ao|ir or]
irorciol ir.estaert Jecisiur. l ouulicoule ir.estu|s s|uulJ uutoir t|e |ele.ort u|uJuct Jisclusu|e stoteaert orJ cursiJe| it ueu|e ao|ir or] Jecisiur tu ir.est. Suae aote|iol is cuu]|i|t orJ uuulis|eJ urJe| licerce |ua /SX 0ue|otiurs |t]
|iaiteJ /Cl 00+ 5Z3 /cZ ,'/SX0'. 0lSC|0SuRE. Eaulu]ees ao] |o.e or irte|est ir t|e secu|ities JiscusseJ ir t|is |euu|t. |leose |ee| tu uu| |irorciol Se|.ices CuiJe ,|SC u| au|e iru|aotiur ot www.au|rirsto|.cua.oulsls.uJ.