Core Natural Resources, Inc.

Outlook

“In just over a month as a combined company, the Core team has already made tremendous strides in unlocking value across a wide range of fronts,” Lang said.

To date, the Core team has:

•Swiftly moved ahead with integration efforts

•Adopted a capital return framework supported by a $1 billion share repurchase authorization

•Executed on strategies to capture one-third of the projected synergies

•Aggregated a significant cash balance in support of its liquidity target, operating needs, and capital return framework, and

•Built the foundation for a strong, long-term capital structure via the extension and upsizing of its legacy revolving credit facility, at advantageous rates.

“Looking ahead, we are more confident than ever that Core’s two, world-class, complementary operating segments – metallurgical coal and high calorific value thermal coal – create a unique and compelling opportunity for value creation and cash generation in the years ahead,” Lang said. “With its highly skilled workforce, strategic asset base, low-cost mining operations, expansive logistics network, tremendous synergy potential, and industry-leading sustainability practices, Core is exceptionally well-equipped to capitalize on what we view to be a highly constructive, durable, long-term global market environment for our core products.”