Financial Data and Key Metrics Changes - In Q4 2020, Alpha reported EBITDA of $7.4 million, down from $12.4 million in Q3, primarily due to lower volumes and increased costs in the Met segment [25] - The company ended the year with approximately $139 million in unrestricted cash and reduced long-term debt by $15 million to $583 million [22][23] - Cash provided by operations for Q4 was $56 million, including a $66 million accelerated AMT tax refund [22] Business Line Data and Key Metrics Changes - The Met segment reported a cost of coal sales of $69.25 per ton in Q4, with a full-year cost of $70.19, down 20% year-over-year from nearly $88 in 2019 [26] - The CAPP - Thermal segment's Q4 cost was $44.15 per ton, with a full-year cost of $47.20, a slight decline of approximately $2 year-over-year [26] - Total Met shipments in Q4 were 3.2 million tons, down about 100,000 tons from Q3, while CAPP - Thermal volumes also decreased by 100,000 tons to 500,000 tons [28] Market Data and Key Metrics Changes - Demand for metallurgical coal is strong in both North American and international markets, with steel plants rebounding well [35] - The disconnect between Australian low-vol indices and U.S. East Coast indices has created challenges, particularly for sales in India [35] - The company expects to ship all its product this year, indicating strong demand [36] Company Strategy and Development Direction - Alpha is transitioning to a pure-play metallurgical coal producer, having divested its largest thermal property, the Cumberland Mine, to reduce thermal production [9][21] - The company aims to capitalize on market recovery by focusing on low-cost development mines, with expectations of production costs below $70 per ton [10] - The strategic shift is expected to eliminate standalone thermal production by 2023, with thermal shipments only as byproducts [30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the demand for metallurgical coal in national and global economic recoveries, particularly with anticipated infrastructure spending [13] - The company is focused on cash preservation while awaiting the impacts of higher pricing on sales contracts [12] - Management noted that the market is trending positively, with improved pricing and demand for products [35] Other Important Information - The company achieved record low cost performance and reduced overhead and SG&A by more than $10 million [10] - Alpha's safety and environmental performance were highlighted, with six operations receiving awards for excellence in safety and compliance [14][15] - The company has strengthened its leadership team with several key promotions and new board members [11] Q&A Session Summary Question: Market strength and pricing expectations - Demand for products is strong, with steel plants rebounding and the company expects to sell all its product this year [35][36] - There is minimal discounting in the current strong market, with sales often at or above index pricing [37] Question: Unrestricted cash balance and liquidity - The unrestricted cash balance primarily supports surety collateral, with limited flexibility for additional liquidity [39][43] - The ABL facility is trending positively, with around $50 million of availability [43] Question: Domestic market and pricing - Approximately one-third of tons are expected to come from the domestic market, with domestic steel producers returning to the market [48] - Spot tons would move at prices reflective of the indices, with high-vol pricing around $110 [48] Question: Production mix and quality - The company is shifting towards more productive mines, with expectations of increased low-vol coal in the market [54] - The quality mix is expected to remain stable, with a good production profile for the next decade without additional growth capital [57]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-38735 ALPHA METALLURGICAL RESOURCES, INC. (Exact name of registrant as specified in its charter) Delaware 81-3015061 (State or other ...

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of $20 million for the quarter, an increase of $3 million from the previous quarter's $17 million, despite a decline in market prices [20][21] - The CAPP - Met segment achieved the lowest full quarter cost since the company's inception at $66.49 per ton, down approximately $3.5 from the second quarter [21][22] - The company ended the quarter with approximately $162 million in unrestricted cash, having used about $77 million in cash during the quarter [16][18] Business Line Data and Key Metrics Changes - CAPP - Met shipments totaled 3.3 million tons, up about 100,000 tons from the second quarter, generating $18 million of EBITDA [22][23] - CAPP - Thermal segment contributed over $5 million of EBITDA, with shipments remaining flat at around 600,000 tons [22][23] - Northern App revenue improved due to higher volumes, with shipments of about 300,000 tons at a price of $40 per ton [24] Market Data and Key Metrics Changes - The average price for committed tons in the metallurgical segment is just over $86 per ton, with 34% of anticipated shipments locked in for 2021 [9][25] - CAPP - Met realization decreased by approximately $8 per ton to around $74 in the third quarter, while CAPP - Thermal realizations improved to just under $58 per ton from $50 [23][24] Company Strategy and Development Direction - The company is strategically exiting thermal coal mining to focus on becoming a pure play metallurgical coal company, which is critical for steel production [10][11] - Portfolio optimization efforts include bringing on new metallurgical properties while deemphasizing or removing uneconomic lines [11][12] - The company plans to reduce capital expenditures significantly in 2021 to a range of $80 to $100 million, focusing on maintenance rather than growth [9][26] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by the pandemic and market volatility but expressed optimism about navigating these issues [10][12] - The company expects to ship between 20.4 and 22.2 million tons in 2021, with a focus on maintaining strong cost performance [24][25] - Management remains committed to safety and environmental stewardship, achieving near-perfect water quality compliance and stable safety metrics [13] Other Important Information - The company anticipates receiving a $66 million AMT credit monetization refund soon, along with a $70 million NOL carryback tax refund in the latter half of 2021 [19][27] - Idle operations expenses are expected to be between $27 million and $33 million as the company continues to shift away from thermal coal production [27] Q&A Session Summary Question: Can you provide a breakdown of cost drivers for the third quarter? - Management indicated that productivity is the main driver of cost reductions, with a significant shift in the number of mines contributing to the portfolio [30][31] Question: How confident is the company about its sales outlook for 2021? - Management expressed confidence in the sales outlook, noting that they have locked in a solid domestic book despite market challenges [32][34] Question: What is the expected cash position for Q4? - Management expects Q4 to be considerably better in terms of cash generation due to the absence of legacy payments that impacted Q3 [36][38] Question: What is the exposure regarding cash collateral requirements? - Management explained that the main exposure comes from thermal permits, and they have a longstanding relationship with surety providers, which helps mitigate risks [39][41] Question: What is the likelihood of completing the NAPP asset sale? - Management rated the likelihood of a deal on a scale of 1 to 10, indicating it is more than 1 but less than 10, reflecting uncertainty [44][45] Question: How is the company positioned regarding the Chinese and Indian markets? - Management confirmed that they do not sell coal to China but have steady shipments to India, which are expected to remain stable into 2021 [50][51]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-38735 CONTURA ENERGY, INC. (Exact name of registrant as specified in its charter) Delaware 81-3015061 (State or other jurisd ...

Contura Energy, Inc. (CTRA) Q2 2020 Results Earnings Conference Call August 7, 2020 10:00 AM ET Company Participants Emily O'Quinn - Vice President of Corporate Communications David Stetson - Chairman and Chief Executive Officer Andy Eidson - Executive Vice President and Chief Financial Officer Jason Whitehead - Executive Vice President and Chief Operating Officer Daniel Horn - Senior Vice President and Head of Metallurgical Coal Sales Conference Call Participants Scott Schier - Clarksons Platou Securities ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-38735 CONTURA ENERGY, INC. (Exact name of registrant as specified in its charter) Delaware 81-3015061 (State or other jurisdictio ...

Financial Data and Key Metrics Changes - The company reported an exceptional EBITDA of $60 million for Q1 2020, nearly doubling from the previous quarter, driven by outstanding cost performance [6][18] - The Central Appalachian (CAPP) met coal net cost reached a multiyear low of $70.68 per ton, down 17% from $82.36 in Q4 2019 and a staggering 34% reduction from Q1 2019's cost of $94 per ton [6][18] - The company ended the quarter with approximately $227 million in unrestricted cash and $156 million of restricted cash, totaling $257 million in liquidity [14][8] Business Line Data and Key Metrics Changes - CAPP met coal generated $69 million of EBITDA during the quarter, while the two thermal segments in Central Appalachian and Northern Appalachian combined added another $2 million of EBITDA [18] - CAPP met coal shipments remained robust at 3.3 million tons, matching Q4 2019 shipments, while revenue per short ton slightly declined by $2.18 to $92.80 [20] - CAPP thermal sales tonnage declined by 31%, resulting in a $15 million decline in CAPP thermal revenues [20] Market Data and Key Metrics Changes - The first quarter met coal prices were challenging, with a significant price decline observed due to the COVID-19 pandemic, with high-vol A market prices dropping by 13% and Australian premium hard coking spot prices declining by 26% in April [9][10] - Global crude steel production declined by 6% compared to March 2019, with European production down 20% and North and South American production declining nearly 10% [10] - The manufacturing PMI index fell to 36.1 in April from 48.5 in March, indicating contracting business conditions [10] Company Strategy and Development Direction - The company is committed to an aggressive cash preservation strategy and has implemented cost-cutting measures to secure long-term viability and profitability [7][8] - Capital projects are continuing as planned, with no impact on timelines despite the current market conditions [27] - The company aims to transition to a more nimble operation, focusing on efficiency at both operating and corporate levels [6][11] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the unprecedented uncertainty due to the coronavirus pandemic and its impact on global economies [5][11] - The company suspended its 2020 guidance due to the difficulty in predicting future market conditions [13] - Management expressed optimism about the company's ability to navigate the challenges ahead, citing a solid financial foundation and strong fundamentals [11][8] Other Important Information - The company expects to receive an accelerated AMT tax refund of approximately $68 million in early Q3 2020 due to the CARES Act [8][16] - The company anticipates deferring approximately $14 million of payroll taxes in connection with the coronavirus relief package [8][16] - There is an ongoing appeal regarding a demand from the Department of Labor for higher collateral amounts for black lung obligations [17] Q&A Session Summary Question: Impact of blast furnace closures on coke plants - Management confirmed that they are seeing deferrals in volumes due to blast furnace closures and are monitoring the situation closely [24][25] Question: Capital projects timeline - Management stated that there is no impact on the timeline for capital projects, which are continuing as previously indicated [27] Question: Path to positive free cash flow in 2020 - Management indicated that 2020 was setting up to be a difficult year from a cash burn perspective, and they expect to continue experiencing cash burn [28][29] Question: Sustainability of cost reductions - Management expressed that as long as production levels are maintained near capacity, the cost reductions are sustainable [32][35] Question: Update on Cumberland - Management stated there are no new updates on Cumberland beyond previous discussions, emphasizing capital preservation [44]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-38735 CONTURA ENERGY, INC. (Exact name of registrant as specified in its charter) Delaware 81-3015061 (State or other jurisdicti ...

Contura Energy, Inc. (CTRA) Q4 2019 Earnings Conference Call March 18, 2020 2:00 PM ET Company Participants David Stetson - Chief Executive Officer Andy Eidson - Chief Financial Officer Jason Whitehead - Chief Operating Officer Emily O'Quinn - VP, Corporate Communications Conference Call Participants Mark Levin - Seaport Global Securities LLC Lucas Pipes - B. Riley FBR, Inc. Daniel Scott - Clarksons Platou Securities Operator Good day and welcome to the Contura Energy Fourth Quarter 2019 Results Conference ...