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, 2023 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 ot ...

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Q1 2023 Earnings Conference Call May 8, 2023 10:00 AM ET Company Participants Emily O'Quinn - Senior Vice President, Investor Relations and Communications Andy Eidson - Chief Executive Officer Todd Munsey - Chief Financial Officer Jason Whitehead - President and Chief Operating Officer Dan Horn - Chief Commercial Officer Conference Call Participants Lucas Pipes - B. Riley Securities Nathan Martin - Benchmark Company Operator Greetings, and welcome to the Alpha ...

FORWARD LOOKING STATEMENTS This document includes forward-looking statements. These forward-looking statements are based on Alpha's expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Alpha's control. The following factors are among those that may cause actual results to differ materially from our forward-looking statements: • the ...

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 March 31, 2023 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 o ...

Financial Data and Key Metrics Changes - In Q4 2022, adjusted EBITDA was $248 million, down from $296 million in Q3 2022 [12] - Free cash flow for 2022 was $1.3 billion, allowing the company to pay off its term loan balance, resulting in no long-term debt [3] - Total liquidity as of December 31, 2022, was $441.1 million, down from $495.5 million at the end of Q3 2022 [15] Business Line Data and Key Metrics Changes - The company sold 3.9 million tons of coal in Q4 2022, with 3.8 million tons from the metallurgical segment [12] - Average realization for metallurgical sales was $190.94 per ton in Q4, essentially flat compared to $191.17 per ton in Q3 [13] - Cost of coal sales in the metallurgical segment increased to $112.97 per ton in Q4, up from $104.86 per ton in Q3 [14] Market Data and Key Metrics Changes - The Australian Premium Low Volatility Index increased from $270.50 per metric ton on October 1 to $294.50 per ton by year-end [26] - As of February 21, 2023, the Australian Premium Low Index was $388 per ton, and the U.S. East Coast Low-Vol index was at $342 [27] - The API 2 index for thermal coal fell from $310.85 per metric ton at the start of Q4 2022 to $190.50 by December 30, 2022 [29] Company Strategy and Development Direction - The company plans to continue protecting its balance sheet while maintaining cash and liquidity targets, with a focus on share repurchases [10] - New departments, Maxim Manufacturing and Maxim Transportation, were created to address supply chain issues and improve operational efficiency [22][23] - The company is focused on cost management to remain well-positioned for any pricing environment that may develop [10] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about 2023, noting that geological and transportation issues affecting Q4 results appear to be largely resolved [7] - The company is taking steps to manage supply chain, trucking, and labor challenges, which are common across the industry [8][9] - Management remains excited about market share production capabilities and solidifying its role as an industry leader [11] Other Important Information - The board declared a quarterly cash dividend of $0.44 per share, an increase from the previous quarter's $0.41 per share [16] - The company repurchased 813,000 shares at a cost of $128 million in Q4 2022, with a total of approximately $560 million spent on share repurchases since the program began [17] Q&A Session Summary Question: Can you comment on cost inflation and its cyclical vs structural nature? - Management indicated that both labor and supplies appear to be sticky, making it challenging to manage costs in the near term [32] Question: Does the recent bonding requirement for black lung obligations suggest more M&A opportunities? - Management noted that while consolidation makes sense, current market valuations make it difficult to justify sizable M&A transactions [35] Question: What is the quality breakdown of the uncommitted MET coal? - Management stated that there is a mix of high and mid-quality coal available, with good demand expected, especially in Western Europe [40] Question: How is the cadence of shipments expected to progress through 2023? - Management expects a ratable cadence for thermal shipments, with some increases in summer months, while metallurgical shipments will also be steady throughout the year [54] Question: Are there concerns about labor constraints affecting production growth? - Management expressed confidence in their current labor force, noting improvements from training programs and a transition to newer, more efficient operations [56]

Reserves and Production - The company has a substantial reserve base of 336.7 million tons of proven and probable reserves as of December 31, 2022, including 322.7 million tons of metallurgical reserves and 14.0 million tons of thermal reserves[19]. - The company has approximately 527.3 million tons of in situ bituminous coal resources as of December 31, 2022, supporting its operational capabilities[19]. - In 2022, the company produced approximately 13.9 million tons of met coal, representing 21% of the total U.S. production of 67.8 million tons[58]. - The company produced approximately 2.2 million tons of thermal coal in 2022, which is less than 1% of the total U.S. thermal production of 524.5 million tons[58]. - The Kingston mining complex has one active underground mine and four active surface mines, with mine lives ranging from 2 to 12 years[30]. - The Marfork mining complex has three active underground mines and two active surface mines, producing High-Vol. A quality met coal with mine lives ranging from 1 to 19 years[31]. - The Power Mountain complex plans to develop a second underground mine in 2023, which will produce High-Vol. B quality met coal[33]. Operations and Infrastructure - The company operates 15 underground mines, nine surface mines, and eight coal preparation plants, with a focus on producing metallurgical coal for the steel industry[18]. - The Bandmill Preparation Plant has a processing capacity of 1,200 tons per hour and a utilization rate of 69%[36]. - The DTA export terminal has a loading capacity of up to 6,500 tons per hour and a storage capacity of 1.7 million net tons[40]. - The company holds a 65.0% interest in Dominion Terminal Associates, providing coal blending, storage capacity, and transportation flexibility[18]. Financial Performance and Revenue - In 2022, met coal accounted for approximately 95% of the company's coal revenues, up from 92% in 2021[50]. - Coal export revenues accounted for approximately 81% of the company's coal revenues for the year ended December 31, 2022[173]. - Metallurgical coal (met coal) accounted for approximately 95% of the company's coal revenues for the year ended December 31, 2022[174]. - Thermal coal accounted for approximately 5% of the company's coal revenues for the year ended December 31, 2022[187]. - The company derived 81% of its coal revenues from sales to customers outside the U.S. for the year ended December 31, 2022[186]. - Coal sales to the largest customer accounted for approximately 25% of total revenues, while sales to the top 10 customers represented about 70% of total revenues[180]. Strategic Focus and Growth - The company shifted its strategic focus to metallurgical coal production, having sold its thermal coal mining operations in Pennsylvania to accelerate this transition[25]. - The company is continuously evaluating opportunities for strategic acquisitions and joint ventures to enhance its asset portfolio and drive growth in target markets[20]. - The company has a history of strategic mergers and acquisitions, including the merger with Alpha Natural Resources Holdings, Inc. in 2018, which expanded its operational footprint[25]. Risk Management and Compliance - The company is actively managing risks related to coal prices, transportation costs, and regulatory changes that could impact its operations[12]. - The permitting process for coal mining has become increasingly stringent, with potential delays due to regulatory and administrative requirements[88]. - The company must comply with the Surface Mining Control and Reclamation Act (SMCRA) and its state analogues, which include complex permit requirements[85]. - The Clean Air Act and its state laws impose direct and indirect impacts on coal mining operations, affecting demand for coal[95]. - The company is subject to ongoing litigation regarding the EPA's air quality standards, which may affect operational costs and regulatory compliance[101]. Environmental and Regulatory Challenges - Global climate change initiatives are expected to decrease coal-fired power plant capacity and utilization, leading to the phasing out of many existing plants and reducing demand for thermal coal[114]. - Several banks and financial institutions are limiting financing for new coal-fired power plants, which may adversely affect future global demand for coal[124]. - Non-governmental organizations are actively campaigning to minimize or eliminate coal use for electricity generation, potentially leading to a decline in coal prices and sales[125]. - The Clean Water Act (CWA) imposes restrictions on coal mining operations regarding the discharge of pollutants into U.S. waters, creating potential compliance costs and operational delays[129]. - The Endangered Species Act may delay or prohibit mining permits, with specific species like the Guyandotte River Crayfish and Big Sandy River Crayfish requiring additional protective measures[138]. Workforce and Safety - The company had approximately 3,730 employees as of December 31, 2022, with 73% being hourly workers[63]. - The company achieved a Non-fatal days lost (NFDL) safety incident rate that was 54% better than the U.S. industry average for 2022[71]. - Stringent health and safety standards under the Federal Mine Safety and Health Act require mandatory inspections and enforcement actions, impacting operational costs for coal mining companies[149]. Financial Liabilities and Taxes - As of December 31, 2022, the company had accrued $179.0 million for reclamation liabilities and mine closures, including $37.0 million of current liabilities[78]. - The company recorded expenses related to the Abandoned Mine Land Fund fees of $2.0 million and $2.5 million for the years ended December 31, 2022 and 2021, respectively[91]. - The excise tax on coal sold was $1.10 per ton for deep-mined coal and $0.55 per ton for surface-mined coal in 2021, resulting in expenses of $5.7 million, which decreased to $2.6 million in 2022 when the tax was adjusted to $0.50 and $0.25 respectively[150].

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Q3 2022 Earnings Conference Call November 7, 2022 10:00 AM ET Company Participants Emily O'Quinn - Senior Vice President of Corporate Communications David Stetson - Chairman and Chief Executive Officer Andy Eidson - President Todd Munsey - Executive Vice President and Chief Financial Officer Jason Whitehead - Executive Vice President and Chief Operating Officer Daniel Horn - Executive Vice President and Chief Commercial Officer Conference Call Participants Luca ...

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, 2022 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 ...

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Q2 2022 Earnings Conference Call August 8, 2022 10:00 AM ET Company Participants Emily O'Quinn - SVP, Corporate Communications David Stetson - Chairman and CEO Andy Eidson - President and CFO Jason Whitehead - EVP and COO Daniel Horn - EVP and Chief Commercial Officer Conference Call Participants Lucas Pipes - B. Riley Securities Nathan Martin - The Benchmark Company Jonathan Everett - Cowen Operator Greetings, and welcome to the Alpha Metallurgical Resources S ...

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, 2022 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 ot ...