Alliance Resource Partners (ARLP) Investor presentation summary

Company overview and business highlights

• Operates as a leading natural resources company with nearly 30 years of experience, focusing on coal and oil & gas royalties.

• Second largest coal producer in the eastern U.S., with seven underground mining complexes and a coal-loading terminal.

• Owns a growing oil & gas minerals royalty platform, investing over $1 billion and controlling 115,680 net royalty acres.

• Maintains a strong balance sheet, with insiders owning about 17% of total equity.

• Reported market capitalization of $3.24 billion and enterprise value of $3.72 billion as of mid-2026.

Financial performance and guidance

• 2Q26 LTM revenue reached $2.17 billion, with adjusted EBITDA of $718 million and net leverage ratio of 0.67x.

• FY26 coal sales guidance is 33.75–35.25 million tons, with over 99% of volumes committed and priced.

• FY26 coal sales price per ton guidance is $54–$56, with segment adjusted EBITDA expense per ton at $37–$39.

• Oil & gas royalties expected to deliver 1,950–2,050 thousand barrels of oil and 10,000–10,500 thousand MCF of natural gas in 2026.

• Total capital expenditures for FY26 projected at $280–$300 million.

Strategic investments and growth initiatives

• Completed major capital projects at key mines in 2025 to lower costs and extend mine life.

• Invested $206 million in AllDale III & IV, adding 48,500 net royalty acres to the oil & gas portfolio.

• Strategic investments in technology (Matrix Design Group, Infinitum) and digital assets (Bitiki) to enhance operational efficiency and diversify income.

• Minority interest in Gavin Generation, a coal-fired power plant, expected to generate attractive returns.

• Ongoing shuttle car improvement program and new portal construction to improve productivity and access additional reserves.