Alpha Metallurgical Resources, Inc.

The number of shares of common stock used to calculate basic net loss per common share is based on the weighted average number of the Company’s outstanding common shares during the respective period. The number of shares of common stock used to calculate diluted net loss per common share is based on the number of common shares used to calculate basic net loss per common share plus the effect of potentially dilutive securities outstanding during the period, which is determined by the application of the treasury stock method.

When applying the treasury stock method, anti-dilution generally occurs when the exercise prices or unrecognized compensation cost per share of common stock are higher than the Company’s average price per share of common stock during an applicable period. For the three and nine months ended September 30, 2026,28,685 and 11,268 common shares underlying potentially dilutive securities, respectively, were excluded from the computation of dilutive net loss per common share because they would have been anti-dilutive. For the three and nine months ended September 30, 2025,16,545 and 15,930 common shares underlying potentially dilutive securities, respectively, were excluded from the computation of dilutive net loss per common share because they would have been anti-dilutive.

Anti-dilution also occurs in periods of a net loss, and the dilutive impact of all share-based compensation awards are excluded. For the three and nine months ended September 30, 2026, the weighted average share impact of securities excluded from diluted weighted-average shares due to the Company incurring a net loss for the period was 31,226 and 33,060, respectively. For the three and nine months ended September 30, 2025, the weighted average share impact of securities excluded from diluted weighted-average shares due to the Company incurring a net loss for the period was 26,377 and 28,742, respectively.