Alliance Resource Partners (ARLP) investor relations material

Business overview and strategy

• Operates as a leading energy provider with nearly 30 years of experience, focusing on coal and oil & gas royalties, and maintains a strong balance sheet with disciplined capital allocation.

• Second largest coal producer in the eastern U.S., operating seven underground mining complexes and a coal-loading terminal, with FY26E sales guidance of 33.75–35.25 million tons.

• Owns a growing portfolio of mineral and royalty interests across 70,000 net royalty acres in top U.S. oil & gas regions, with over $785 million invested.

• Pursues growth investments in technology, energy, and infrastructure to drive long-term cash flow and value.

• Insiders own approximately 17% of total equity, aligning interests with unitholders.

Coal operations and market positioning

• Strategically located, low-cost, tier 1 coal assets serve both domestic and export markets, with major capital projects completed to lower costs and extend mine life.

• Multi-year sales contracts with blue-chip domestic utilities provide over 95% committed and priced FY26E coal sales, reducing pricing volatility.

• Coal sales price per ton guidance for FY26E is $54.00–$56.00, with approximately 65% of FY27E volumes already committed.

• Significant investments in mine development and equipment upgrades from FY23–25 are expected to improve productivity and reduce costs.

• Policy and regulatory tailwinds, including federal directives and funding, reinforce coal's role in grid reliability and delay plant retirements.

Oil & gas royalties and portfolio

• Royalty platform is heavily weighted to the Permian Basin, with 84% of total BOE volumes sourced from this region and exposure to top-tier operators.

• Oil & gas royalties segment generated $122 million in adjusted EBITDA (1Q26 LTM) with an 85% EBITDA margin.

• Portfolio offers decades of drilling inventory, supporting long-term production and revenue durability.

• Net production for 1Q26 was 11,357 BOE/day, with oil comprising 44% of volumes and 76% of BOE revenue.