NATURAL RESOURCE PARTNERS L.P. 2020 WELLS FARGO MIDSTREAM AND UTILITY CONFERENCE December 2020 FORWARD-LOOKING STATEMENTS This presentation includes "forward-looking statements" as defined by the Securities and Exchange Commission. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Partnership expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are bas ...

Financial Data and Key Metrics Changes - The company generated $24 million of operating cash flow and $7 million of net income from continuing operations during the third quarter of 2020 [16] - Free cash flow over the last 12 months was $95 million, with $46 million of debt paid off [8] - The cash flow cushion was reported at $1.5 million, with total liquidity of $216 million, including $116 million in cash and $100 million in unused borrowing capacity [9] Business Line Data and Key Metrics Changes - The coal royalty and other segment generated $19 million of net income and $29 million of operating cash flow in Q3 2020, although results were lower compared to the prior year due to weakened metallurgical coal markets [16][17] - Metallurgical coal accounted for approximately 65% of total coal royalty sales volumes and about 70% of coal royalty revenue in Q3 2020 [18] - The soda ash segment saw revenues decrease by $12 million compared to the previous year due to lower demand and weakened pricing [20] Market Data and Key Metrics Changes - Demand for steel, electricity, and glass began to rebound in Q3 2020, improving the outlook for coal and soda ash businesses [7] - Ciner Wyoming's soda ash sales volumes increased by 27% compared to Q2 2020, indicating a recovery in demand [13] Company Strategy and Development Direction - The company continues to focus on generating free cash flow and maintaining strong liquidity to manage through challenging market conditions [15] - There is an emphasis on cost management within the coal segment, and the company is exploring initiatives unrelated to coal production, such as CO2 sequestration [52] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the recovery in coal markets but acknowledged ongoing volatility due to the COVID-19 pandemic [7] - The company does not foresee significant changes in production or pricing for the fourth quarter compared to the third quarter [39] Other Important Information - The company declared a cash distribution of $0.45 per common unit for Q3 2020, maintaining its distribution strategy despite market challenges [25] Q&A Session Summary Question: Free cash flow cushion outlook - Management acknowledged the risk of the free cash flow cushion turning negative but emphasized the liquidity available to manage potential downturns [29][30] Question: Balancing liquidity and debt paydown - Management indicated that current liquidity levels feel appropriate given market uncertainties, and they are cautious about early debt repayment due to market conditions [34][35] Question: Production outlook for coal reserves - Management expects a general improvement in production and pricing for coal assets in 2021 compared to 2020 [37] Question: Impact of third-party surety bond providers - Management noted that while they are sensitive to lessees' creditworthiness, current conditions do not present significant risks as seen in previous years [44][45] Question: Potential impact of a change in the White House - Management does not foresee significant direct impacts from a change in administration, focusing instead on economic factors affecting coal demand [49][50]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ 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 Commission file number: 001-31465 NATURAL RESOURCE PARTNERS LP Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol(s) | Name of each exchange on whic ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ 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 Commission file number: 001-31465 NATURAL RESOURCE PARTNERS LP (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 35-2164875 ...

Natural Resource Partners L.P. (NYSE:NRP) Q2 2020 Results Earnings Conference Call August 7, 2020 9:00 AM ET Company Participants Tiffany Sammis - Manager of Investor Relations Craig Nunez - President, Chief Operating Officer Chris Zolas - Chief Financial Officer, Treasurer Conference Call Participants Mark Levin - Benchmark Operator Ladies and gentlemen, thank you for standing by and welcome to the Natural Resource Partners L.P. second quarter 2020 earnings. At this time, all participants are in a listen-o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý 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 Commission file number: 001-31465 NATURAL RESOURCE PARTNERS L.P. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 35-21648 ...

Natural Resource Partners L.P. (NYSE:NRP) Q1 2020 Results Earnings Conference Call May 11, 2020 9:00 AM ET Company Participants Tiffany Sammis - Manager of Investor Relations Craig Nunez - President, Chief Operating Officer Chris Zolas - Chief Financial Officer, Treasurer Kevin Craig - Executive Vice President of Coal Conference Call Participants Mark Levin - Benchmark Company Operator Good morning, ladies and gentlemen. Thank you for standing by and welcome to the Natural Resource Partners L.P. first quart ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to (Zip Code) (713) 751-7507 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading ...

Natural Resource Partners L.P. (NYSE:NRP) Q4 2019 Earnings Conference Call February 27, 2020 9:00 AM ET Company Participants Tiffany Sammis - Manager of Investor Relations Craig Nunez - President and Chief Operating Officer Chris Zolas - Chief Financial Officer Conference Call Participants Mark Levin - Benchmark Company Nick Jarmoszuk - Stifel Operator Good morning, ladies and gentlemen, and welcome to the Natural Resource Partners LP Fourth Quarter 2019 Earnings Conference Call. As a reminder, this confere ...

Natural Resource Partners L.P. (NYSE:NRP) Q3 2019 Results Conference Call November 6, 2019 10:00 AM ET Company Participants Tiffany Sammis - Head of Investor Relations Craig Nunez - President and Chief Operating Officer Chris Zolas - Chief Financial Officer Conference Call Participants Mark Levin - Seaport Global Operator Good morning, ladies and gentlemen, and welcome to the Natural Resource Partners LP Third Quarter 2019 Earnings Conference Call. [Operator Instructions] I would now like to introduce your ...