Core Natural Resources (CNR) Investor presentation summary

Company overview and market position

• Employs over 5,000 people and operates flagship longwall mines with reserves supporting low-cost mining through 2050.

• Sells coal to about 25 countries across five continents, with 75% of exports directed to steelmakers, cement manufacturers, and infrastructure providers.

• Ranks first quartile on cost curve among U.S. metallurgical and seaborne thermal coal suppliers.

• No. 1 global supplier of High-Vol A metallurgical coal and industry leader in sustainability.

• 2024 revenue reached $4.7 billion, with 85 million tons sold and 27 Mtpa export capacity via two marine terminals.

Business segments and growth drivers

• Operates two core lines: metallurgical coal for steel and high calorific value thermal coal for energy and industry.

• Metallurgical coal demand projected to grow over 50% by 2050, driven by steel capacity expansion in Asia.

• High calorific value thermal coal represents just 2% of seaborne trade, with demand supported by global cement and industrial growth.

• 65% of export volume sold into fast-growing Asian markets.

• New data centers and infrastructure projects are increasing U.S. baseload power demand.

Operational excellence and innovation

• Operates 11 mines anchored by eight longwalls, with best-in-class productivity and cost competitiveness.

• Premier metallurgical portfolio supplies ~25% of global High-Vol A coking coal, with 75% of production from low-cost longwall operations.

• Pennsylvania Mining Complex produces ~26 million tons annually; West Elk mine adds ~5 million tons.

• Nearly 50% of high calorific value thermal coal sold into industrial markets critical for infrastructure.

• Invests in technology and innovation, including remote operations, predictive maintenance, and new carbon applications.