Ramaco Resources, Inc.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
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ITEM 9A. Controls and Procedures
*Management’s Evaluation of Disclosure Controls and Procedures.*As of December 31, 2025, our management, under the supervision and with the participation of our principal executive officer and principal financial officer, evaluated the effectiveness of our disclosure controls and procedures in pursuant to applicable Exchange Act rules. Based upon this evaluation, our principal executive officer and principal financial officer have concluded that, as of December 31, 2025, the disclosure controls and procedures were effective at a reasonable assurance level.
Management’s Annual Report on Internal Control over Financial Reporting. Management is responsible for establishing and maintaining adequate internal control over financial reporting. Management used the criteria described inInternal Control-Integrated Framework *(2013)*issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) to evaluate the effectiveness of the Company’s internal control over financial reporting as of December 31, 2025. Management has concluded that, as of December 31, 2025, the Company’s internal control over financial reporting is effective based on the criteria set forth in the COSO framework.
The effectiveness of our internal control over financial reporting as of December 31, 2025 has been audited by Grant Thornton LLP, an independent registered public accounting firm, as stated in their report, which is included herein and expressed an unqualified opinion.
Remediation of Previously Reported Material Weakness. A material weakness (as defined in Rule 12b-2 under the Exchange Act) is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of a company's annual or interim financial statements will not be prevented or detected on a timely basis. Management concluded that a material weakness existed as of December 31, 2024 related to an insufficiency of appropriately qualified and trained professionals to perform certain control activities necessary to achieve our control objectives. The material weakness also resulted in incomplete or inadequate documentation related to accounting policies and procedures, inappropriate conclusions reached regarding non-routine accounting matters, and insufficient evidence of internal control activities. In response to the previously reported material weakness, we developed a comprehensive plan of remediation, which included assessing, redesigning, and implementing modifications of our internal controls, and hiring of additional qualified accounting personnel, or supplementing internal resources with qualified external advisors as needed. We implemented these remediation efforts during 2025 and we completed the testing of the design and operating effectiveness of the respective controls. Based on the results of our testing, as of December 31, 2025, we concluded that the controls are adequately designed, implemented, and have operated effectively for a sufficient period of time to remediate this previously reported material weakness.
*Changes in Internal Control Over Financial Reporting.*During 2025, we took substantial steps to improve our control environment by executing our remediation plan to address the previously reported material weakness, as described above. Except as described above, there were no significant changes in our internal control over financial reporting during our fourth quarter that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
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