Core Points - Rosen Law Firm is reminding investors who purchased Ramaco Resources, Inc. securities between July 31, 2025, and October 23, 2025, of the March 31, 2026, deadline to become a lead plaintiff in a class action lawsuit [1] - Investors may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2] - A class action lawsuit has already been filed, and interested parties can join by contacting Rosen Law Firm [3] Case Details - The lawsuit alleges that during the Class Period, Ramaco made materially false and misleading statements regarding its mining activities at the Brook Mine, claiming that significant mining activities had not commenced and that no active work was taking place [5] - As a result of these misstatements, Ramaco is accused of overstating its development progress, leading to misleading positive statements about its business and operations [5] - The lawsuit claims that when the true details were revealed, investors suffered damages [5] Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest securities class action settlement against a Chinese company and being ranked No. 1 for the number of settlements in 2017 [4] - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [4] - Founding partner Laurence Rosen was recognized as a Titan of Plaintiffs' Bar by Law360 in 2020, and many attorneys at the firm have received accolades from Lawdragon and Super Lawyers [4]

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Ramaco Resources, Inc. due to allegations of misleading statements regarding the company's mining activities, particularly at the Brook Mine, which has led to a significant drop in stock price [1][3][4]. Group 1: Allegations Against Ramaco - The complaint alleges that Ramaco and its executives violated federal securities laws by making false and misleading statements about the progress and activities at the Brook Mine [3]. - Specific allegations include that no significant mining activity had commenced at the Brook Mine after its groundbreaking and that the company overstated its development progress [3]. - A report by Wolfpack Research described the Brook Mine as a "hoax" and claimed that no active work had taken place, leading to a stock price decline of $3.81, or 9.6%, to close at $36.01 per share on October 23, 2025 [4]. Group 2: Legal Proceedings and Investor Actions - Investors who purchased securities in Ramaco between July 31, 2025, and October 23, 2025, are encouraged to discuss their legal rights and options, with a deadline of March 31, 2026, to seek the role of lead plaintiff in a federal securities class action [1][5]. - The lead plaintiff is defined as the investor with the largest financial interest in the relief sought by the class, who will oversee the litigation on behalf of the class [5]. - Faruqi & Faruqi also invites anyone with information regarding Ramaco's conduct, including whistleblowers and former employees, to come forward [6].

Core Viewpoint - Pardee Resources Company announced a favorable jury verdict for its subsidiary Big Huff Minerals LLC against a utility company, resulting in a total potential judgment of $74 million, including damages and additional mining costs [1] Group 1: Jury Verdict and Financial Implications - A West Virginia jury awarded $16 million in damages and prejudgment interest to Big Huff and its coal lessee for coal value affected by utility transmission lines [1] - The court previously determined that the coal lessee would incur $58 million in additional costs to mine around the transmission towers, which would be awarded if the plaintiffs prevailed [1] - The total judgment order sought by the plaintiffs is $74 million, which includes the $16 million damages and $58 million in added costs, with an additional potential $10 million in prejudgment interest [1] Group 2: Company’s Position and Future Actions - The company expects the utility to appeal the jury's decision, which may prolong the resolution process [1] - The company intends to vigorously pursue the judgment and believes it will be upheld based on current knowledge and legal counsel [1] - The company's share of the total judgment order is approximately 33% [1]

Warrior ended the year with coal inventories of 1.6 million short tons, up from 1.1 million tons at the end of September, which management attributed to the early Blue Creek longwall start-up. Given expectations for continued weak market conditions in 2026, the company said it plans to begin 2026 with Blue Creek production of about 4.5 million short tons and sell down excess inventory before ramping higher in line with additional contractual volumes.For full-year 2025, Warrior reported record sales volume o ...

Company Overview - Aura FAT Projects Acquisition Corp (AFAR) has entered into a binding Letter of Intent (LOI) with Dalmore Holdings Pty Ltd for a proposed business combination, which is expected to result in a public listing on a national securities exchange in the United States [1] - Dalmore Holdings is an Australian private mining company focused on the revitalization of the Wilkie Creek open-cut coal mine in Queensland, Australia [16] Transaction Details - Under the LOI, all existing Dalmore shareholders will roll their equity into the combined company, and AFAR plans to raise additional capital through a private investment in public equity (PIPE) financing to support growth objectives [2] - The LOI is subject to due diligence, final transaction structuring, and includes provisions for exclusivity and confidentiality [3] Operational Progress - Dalmore operates the Wilkie Creek coal mine, which has a legacy production run rate of approximately 2.6 million tonnes per annum, with plans to ramp up to about 3.7 million tonnes per annum [4] - Following a comprehensive operational and financial restructuring, Dalmore is preparing for its first shipments of high-quality Australian coal, supported by funding from Blackbird Capital [5] - The recommencement of commercial operations at Wilkie Creek is expected to stimulate economic activity in the Dalby region, including job creation and increased demand for local services [6] Advisory and Legal Support - Hall Chadwick is serving as Corporate Advisor to Dalmore, while Cohen & Company Capital Markets is the exclusive financial advisor to AFAR [7]

You can find additional information regarding the company on our website at www.warriormetcoal.com, which also includes a fourth quarter supplemental slide deck that was posted this afternoon. Today, on the call with me are Mr. Walter J. Scheller, Chief Executive Officer, and Mr. Dale W. Boyles, Chief Financial Officer. After our formal remarks, we will be happy to answer any questions. With that, I will now turn the call over to Walter J. Scheller. Thanks, Brian. Hello, everyone, and thank you for taking t ...

Financial Data and Key Metrics Changes - Warrior reported a record high quarterly sales volume of 2.9 million short tons in Q4 2025, a 53% increase compared to 1.9 million tons in Q4 2024 [14] - Total sales volume for 2025 reached 9.6 million short tons, a 21% increase year-over-year, while production volume was 10.2 million short tons, a 24% increase from 2024 [6][7] - Adjusted EBITDA for Q4 2025 was $93 million, a 31% increase from Q3 2025, and a 75% increase from $53 million in Q4 2024 [21][23] - Net income for Q4 2025 was $23 million, or $0.44 per diluted share, compared to $1 million or $0.02 per diluted share in Q4 2024 [23] Business Line Data and Key Metrics Changes - Blue Creek mine began longwall operations in Q4 2025, contributing 1.3 million tons to production, exceeding expectations [15][16] - Mine No. 4 set a new record high output for both sales and production volume, continuing its strong performance [7] - Cash costs per ton decreased to approximately $94 in Q4 2025 from $120 in the same quarter last year, reflecting lower overall spending and the contribution of low-cost Blue Creek tons [27] Market Data and Key Metrics Changes - The PLV FOB Australia index averaged $182 per short ton in Q4 2025, a 9% increase from Q3 2025 [9] - Chinese steel export volumes for 2025 reached a record high of 119 million metric tons, a 7.2% increase year-over-year, while crude steel production decreased by 4.4% [8] - The average East Coast HVA index price decreased by $6 per ton, or 4%, in Q4 2025 compared to Q3 2025 [10][11] Company Strategy and Development Direction - Warrior aims to reduce coal inventory levels to just below 1 million tons while ramping up production in line with contractual volumes [35] - The company plans to spend the remaining construction CapEx of $50-$75 million on the Blue Creek project in Q1 2026 [33] - Warrior's strategy includes maintaining a strong liquidity position while focusing on shareholder returns post-Blue Creek ramp-up [89] Management's Comments on Operating Environment and Future Outlook - Management expects steelmaking coal markets to remain consistent with 2025 levels, entering 2026 from a position of strength with higher contracted volumes and record production capacity [32] - The company anticipates total sales and production volumes to be significantly higher in 2026 due to the early start of Blue Creek longwall operations [32] - Management expressed cautious optimism regarding pricing, noting that recent disruptions in supply chains may be temporary [36] Other Important Information - Warrior's total available liquidity at the end of Q4 2025 was $484 million, consisting of cash and cash equivalents of $300 million, short-term investments of $43 million, and $141 million available under the ABL Facility [31] - The company achieved double-digit volume growth in both sales and production for the full year 2025, despite weak market conditions for steelmaking coal [6][19] Q&A Session Summary Question: What is the PLV price assumption for 2026? - The PLV assumption is a range of $185-$215 per short ton [41] Question: How should working capital be expected to change in 2026? - Working capital is expected to build early in the year, with a potential increase of upwards of $50 million in the first half [65] Question: What are the payments for federal leases? - The payments for federal leases are about $9 million per year for four years [47] Question: How does the company plan to return cash to shareholders? - The company plans to return cash through a higher fixed quarterly dividend, special cash dividends, and selective stock buybacks [58] Question: What is the expected sustaining CapEx for 2027 and beyond? - Sustaining CapEx is expected to increase by $20 million-$30 million annually, leading to a run rate of approximately $110-$140 million [78]

Financial Data and Key Metrics Changes - Warrior achieved a record high quarterly sales volume of 2.9 million short tons in Q4 2025, a 53% increase compared to 1.9 million tons in Q4 2024 [14] - Total sales volume for 2025 was 9.6 million short tons, a 21% increase year-over-year, while production volume reached 10.2 million short tons, a 24% increase from 2024 [6][7] - Adjusted EBITDA for Q4 2025 was $93 million, a 31% increase from Q3 2025, and a 75% increase from $53 million in Q4 2024 [21][23] - Net income for Q4 2025 was $23 million, or $0.44 per diluted share, compared to $1 million or $0.02 per diluted share in Q4 2024 [23] Business Line Data and Key Metrics Changes - Blue Creek mine began longwall operations in Q4 2025, contributing 1.3 million tons of production, exceeding expectations [15][16] - Mine No. 4 set a new record high output for both sales and production volume, continuing its strong performance [7] - Cash costs per ton decreased to approximately $94 in Q4 2025 from $120 in the same quarter last year, reflecting lower overall spending and the contribution of low-cost Blue Creek tons [27] Market Data and Key Metrics Changes - The PLV FOB Australia index averaged $182 per short ton in Q4 2025, marking a 9% increase from Q3 2025 [9] - Chinese steel export volumes for 2025 reached a record high of 119 million metric tons, a 7.2% increase year-over-year, while crude steel production decreased by 4.4% [8] - The average East Coast HVA index price decreased by $6 per ton, or 4%, in Q4 2025 compared to Q3 2025 [10][11] Company Strategy and Development Direction - Warrior plans to ramp production in line with contractual volumes to support pricing discipline while maximizing long-term value [17] - The company aims to reduce coal inventory levels to just below 1 million tons by the end of 2026 [35] - Warrior's strategy includes significant investments in Blue Creek, which is expected to enhance the company's cost structure and drive margin expansion [19][38] Management's Comments on Operating Environment and Future Outlook - Management expects steelmaking coal markets to remain consistent with 2025 levels, entering 2026 from a position of strength with higher contracted volumes and record production capacity [32] - The company anticipates total sales and production volumes to be significantly higher in 2026 due to the early start of Blue Creek longwall operations [32] - Management expressed cautious optimism regarding pricing, noting that recent disruptions in global mining production may be temporary [36] Other Important Information - Warrior's total available liquidity at the end of Q4 2025 was $484 million, consisting of cash and cash equivalents of $300 million, short-term investments of $43 million, and $141 million available under the ABL Facility [31] - The company plans to spend the remaining construction CapEx of $50-$75 million on the Blue Creek project in Q1 2026 [33] Q&A Session Summary Question: What is the PLV price assumption for 2026? - The PLV assumption is a range of $185-$215 per short ton [41][43] Question: How should working capital be expected to change in 2026? - Working capital is expected to build in the first half of the year due to increased accounts receivable and inventory [44][65] Question: What are the payments for federal leases? - The payments for federal leases are about $9 million per year for four years [46][48] Question: How will cash flow be managed in 2026? - The company expects to be free cash flow positive in the second half of 2026, depending on pricing [56][58] Question: What is the outlook for Mine No. 4's production? - Mine No. 4 is expected to continue running at levels similar to the previous year, maintaining strong performance [88]

Financial Data and Key Metrics Changes - Warrior Met Coal reported a record high total sales volume of 9.6 million short tons for 2025, a 21% increase from the previous year, and a production volume of 10.2 million short tons, a 24% increase from 2024 [6][15] - The fourth quarter Adjusted EBITDA was $93 million, a 31% increase from the third quarter of 2025, and net income was $23 million, or $0.44 per diluted share, compared to $1 million, or $0.02 per diluted share in the same quarter of 2024 [22][24] - Total revenues for the fourth quarter were $384 million, up from $297 million in the same quarter of the previous year, driven by a 53% increase in sales volumes [24][25] Business Line Data and Key Metrics Changes - The ramp-up of the Blue Creek longwall operations began production eight months ahead of schedule, contributing significantly to the company's production profile and cost structure [4][16] - Blue Creek produced 1.3 million tons during the fourth quarter, exceeding expectations, and the company achieved a record high quarterly sales volume of 2.9 million short tons [13][14] Market Data and Key Metrics Changes - The PLV FOB Australia index averaged $182 per short ton in the fourth quarter, marking a 9% increase from the third quarter of 2025 [9] - Chinese steel export volumes reached a record high of 119 million metric tons in 2025, a 7.2% increase year-over-year, while crude steel production decreased by 4.4% [8] Company Strategy and Development Direction - The company plans to reduce coal inventory levels to just below 1 million tons and expects to ramp production in line with increases in contractual volumes [35][32] - Warrior aims to maintain a disciplined capital allocation strategy while focusing on shareholder returns, including potential dividends and stock buybacks [58][88] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the steelmaking coal market, anticipating that prices may remain supported in the short term but could retreat if global supply and demand fundamentals do not improve [36][37] - The company expects sales volumes in 2026 to be more than 30% higher than in 2025, driven by the contribution of the Blue Creek mine [35][38] Other Important Information - The total capital expenditures for the Blue Creek project reached $957 million, fully funded by cash flows from operations, with an estimated total project cost of $995 million to $1.075 billion [16][17] - The company recorded a negative free cash flow of $28 million in the fourth quarter due to increased capital expenditures and working capital needs [29] Q&A Session Summary Question: What is the PLV price assumption for 2026? - The PLV price assumption is a range of $185-$215 per short ton [41][43] Question: How should working capital be expected to build in 2026? - Working capital is expected to increase in the first half of the year due to higher accounts receivable and inventory, potentially upwards of $50 million [65] Question: What are the payments for federal leases? - The payments for federal leases total about $9 million per year over four years [46] Question: How does the company view shareholder returns? - The company plans to return cash to shareholders through higher fixed quarterly dividends and possibly special cash dividends and stock buybacks [58][88]

Fourth Quarter 2025 Results February 12, 2026 Forward-looking Statements Mine 7 Underground Operation with Two Longwall Systems • Premium High Vol A steelmaking Blue Creek Underground Operation with Single Longwall System(3) Mine 4 Underground Operation with Single Longwall System This presentation contains, and of Warrior Met Coal, Inc.'s (the "Company", "WMC" or "Warrior") officers and representatives may from time to time make, forward-looking statements within the meaning of Section 27A of the Securitie ...