Sales Performance - The company sold 0.9 million tons of coal in Q1 2024, generating $172.7 million in revenue, a 4% increase from $166.4 million in Q1 2023, driven by a 23% increase in tons sold[108][114] - The average revenue per ton sold decreased by 15% from $220 in Q1 2023 to $186 in Q1 2024, primarily due to variability in index-based pricing for export sales[114] - Non-GAAP revenue (FOB mine) for Q1 2024 was $144,391,000, up from $141,914,000 in Q1 2023, while tons sold increased to 929,000 from 757,000[139] Cost and Expenses - The cost of sales increased by 26% to $139.7 million in Q1 2024, with the cost per ton sold rising 3% from $146 to $150[115] - Non-GAAP cash cost per ton sold (FOB mine) rose to $118 in Q1 2024 from $109 in Q1 2023, with total cost of sales increasing to $139,713,000 from $110,549,000[140] - Adjusted EBITDA for Q1 2024 was $24.2 million, significantly lower than $48.3 million in Q1 2023, reflecting lower margins on coal sales[112] Financial Position - Cash flows from operating activities were $25.2 million in Q1 2024, driven by net earnings adjusted for non-cash expenses[123] - The company had $30.5 million in cash and cash equivalents as of March 31, 2024, with an additional $65.3 million available under its Revolving Credit Facility[122] - The effective tax rate for Q1 2024 was 21%, compared to 18% in Q1 2023, influenced by state taxes and non-deductible expenses[121] Royalties and Fees - Total royalties for Q1 2024 were $4,054,000, a slight increase from $4,012,000 in Q4 2023, with Ramaco Coal royalties at $2,730,000 compared to $3,276,000 in the previous quarter[125] - Infrastructure fees totaled $6,429,000 in Q1 2024, down from $6,630,000 in Q4 2023, with preparation plants contributing $4,475,000 and rail load-outs contributing $1,954,000[125] Dividends and Capital Expenditures - The company declared cash dividends of $0.1375 per share for Class A and $0.2376 per share for Class B, payable on June 15, 2024[125] - Capital expenditures in Q1 2024 totaled $18.7 million, with expectations to spend approximately $53-63 million for the full year 2024[123] Future Outlook and Risks - Future liquidity may be impacted by macroeconomic conditions, potentially leading to reduced capital expenditures or funding through debt or equity securities[127] - The company filed a shelf registration statement for an aggregate initial offering price of up to $400 million, although there are no immediate plans to raise capital[128] - The company continues to face risks such as late payments from customers and cost overruns in equipment purchases, which could affect cash flow and operational capabilities[128] Strategic Initiatives - The company is assessing its rare earth elements deposit in Wyoming, indicating elevated levels of critical minerals, and is advancing new carbon product technologies[111] - The company had outstanding performance obligations of approximately 1.1 million tons with fixed sales prices averaging $168 per ton, expecting to satisfy 78% of these commitments in 2024[109][110] Adjusted Financial Metrics - Adjusted EBITDA for Q1 2024 was $24,180,000, significantly lower than $48,253,000 in Q1 2023, with net income dropping to $2,032,000 from $25,257,000[137]

Exhibit 99.1 RAMACO RESOURCES REPORTS FIRST QUARTER 2024 RESULTS LEXINGTON, KY., May 8, 2024 -- Ramaco Resources, Inc. (NASDAQ: METC, METCB, "Ramaco" or the "Company"), a leading operator and developer of high-quality, low-cost metallurgical coal, today reported financial results for the three months ended March 31, 2024. FIRST QUARTER 2024 HIGHLIGHTS MARKET COMMENTARY / 2024 OUTLOOK 1 ● For the three months ended March 31, 2024, the Company had adjusted earnings before interest, taxes, depreciation, amorti ...

| 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, 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: 001-38003 | | | RAMACO RESOURCES, INC. | | | (Exact name of regist ...

Exhibit 99.1 RAMACO RESOURCES REPORTS FOURTH QUARTER AND FULL-YEAR 2023 RESULTS LEXINGTON, KY., March 7, 2024 -- Ramaco Resources, Inc. (NASDAQ: METC, METCB, "Ramaco" or the "Company"), a leading operator and developer of high-quality, low-cost metallurgical coal, today reported financial results for the three months and twelve months ended December 31, 2023. FOURTH QUARTER AND FULL-YEAR 2023 HIGHLIGHTS MARKET COMMENTARY / 2024 OUTLOOK 1 ● For the three months ended December 31, 2023, the Company had adjust ...

Table of Contents 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, 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: 001-38003 RAMACO RESOURCES, INC. (Exact name of registrant as specified in its charter) Delaware 38-4018838 (Stat ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ 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 FORM 10-Q (Mark One) (859) 244-7455 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol(s) | Na ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) 250 West Main Street, Suite 1900 Lexington, Kentucky 40507 (Address of principal executive offices) (Zip code) (859) 244-7455 ☒ 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 ...

Table of Contents 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, 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: 001-38003 RAMACO RESOURCES, INC. (Exact name of registrant as specified in its charter) Delaware 38-4018838 (State or ...

Table of Contents 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: 001-38003 RAMACO RESOURCES, INC. (Exact name of registrant as specified in its charter) Delaware 38-4018838 ( ...

Table of Contents 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: 001-38003 RAMACO RESOURCES, INC. (Exact name of registrant as specified in its charter) Delaware 38-4018838 (State ...