Clinch Resources (CLCH) investor relations material

Corporate developments and operational progress

• Completed RTO on March 20 and raised CAD 46 million in IPO, investing CAD 100 million over 3.5 years to ramp up four West Virginia properties.

• Fully permitted across all properties, with new equipment deployed and first sales achieved in August, including a 65,000-ton vessel shipment to Europe.

• Acquired 39% of JJ Resources, a brownfield asset with 51 million tons of mid-vol coal, and began efforts to restart production with updated reserve reports and drilling.

• Hired a 25-year commodity veteran to lead in-house marketing, aiming for direct contracts with end users and specialty coal markets.

• Initiated dual listing process for U.S. exchange, targeting completion by end of Q1 2027.

Production ramp-up and sales outlook

• Lanes Branch mine is ahead of schedule, targeting 80,000 tons/month by end of October; Mine 8 to start production in October, with additional mines coming online through early 2027.

• Projecting to exit the year at over 100,000 tons/month, ramping to 180,000+ tons/month by end of Q1 2027.

• Expecting over 2 million tons of production and sales in 2027, with specialty coal sales targeted at 20% of output.

• First major vessel sale shipped to Poland, reflecting growing international demand and strategic market positioning.

Financial and strategic positioning

• Forecasting over $200 million EBITDA for next year at current coal prices, with industry multiples of 6x–7.2x.

• No legacy liabilities such as asset retirement obligations or health/reclamation bonds, supporting lower lifting costs (projected at CAD 90/ton).

• Significant investment in new equipment, all under warranty and maintenance, ensuring high operational uptime.

• Added to the U.S. critical mineral list, opening access to over $2 billion in potential government funding for onshoring minerals and manufacturing.