Alpha Metallurgical Resources 10K 2023 Annual report | AMR Filing

Alpha Metallurgical Resources, Inc. Statement of Coal Resources and Reserves for the Marfork Mining Complex in Accordance with United States SEC Standards as of December 31, 2023 Central Appalachian Coal Basin West Virginia, USA February 2024 Prepared for: Alpha Metallurgical Resources, Inc. 340 Martin Luther King Jr. Blvd. Bristol, TN 37620 Prepared by: MARSHALL MILLER & ASSOCIATES, INC. 582 Industrial Park Road Bluefield, Virginia 24605 www.mma1.com Alpha Metallurgical Resources, Inc. Statement of Coal Resources and Reserves for the Marfork Mining Complex in Accordance with United States SEC Standards as of December 31, 2023 Central Appalachian Coal Basin West Virginia, USA MARSHALL MILLER & ASSOCIATES, INC. 2 Statement of Use and Preparation This updated Technical Report Summary (TRS) was prepared for the sole use of Alpha Metallurgical Resources, Inc. (Alpha) and its affiliated and subsidiary companies and advisors. Copies or references to information in this report may not be used without the written permission of Alpha. The report provides a statement of coal resources and coal reserves for Alpha, as defined under the United States Securities and Exchange Commission (SEC). The statement is based on information provided by Alpha and reviewed by various professionals within Marshall Miller & Associates, Inc. (MM&A). MM&A professionals who contributed to the drafting of this report meet the definition of Qualified Persons (QPs), consistent with the requirements of the SEC. The information in this TRS related to coal resources and reserves is based on, and fairly represents, information compiled by the QPs. At the time of reporting, MM&A’s QPs have sufficient experience relevant to the style of mineralization and type of deposit under consideration and to the activity they are undertaking to qualify as a QP as defined by the SEC. Certain information set forth in this report contains “forward-looking information”, including production, productivity, operating costs, capital costs, sales prices, and other assumptions. These statements are not guarantees of future performance and undue reliance should not be placed on them. The assumptions used to develop the forward-looking information and the risks that could cause the actual results to differ materially are detailed in the body of this report. Marshall Miller & Associates, Inc. (MM&A) hereby consents (i) to the use of the information contained in this report dated December 31, 2023, relating to estimates of coal resources and coal reserves controlled by Alpha, (ii) to the use of MM&A’s name, any quotations from or summarizations of this TRS in Alpha’s SEC filings, and (iii) to the filing of this TRS as an exhibit to Alpha’s SEC filings. Qualified Person: /s/ Marshall Miller & Associates, Inc. Date: February 9, 2024

Alpha Metallurgical Resources, Inc. Statement of Coal Resources and Reserves for the Marfork Mining Complex in Accordance with United States SEC Standards as of December 31, 2023 Central Appalachian Coal Basin West Virginia, USA MARSHAL MILLER & ASSOCIATES, INC. 3 Table of Contents 1 Executive Summary .................................................................................................................... 9 1.1 Property Description ..................................................................................................... 9 1.2 Ownership ................................................................................................................... 10 1.3 Geology ....................................................................................................................... 10 1.4 Exploration Status ....................................................................................................... 11 1.5 Operations and Development ..................................................................................... 11 1.6 Mineral Resource ........................................................................................................ 12 1.7 Mineral Reserve .......................................................................................................... 13 1.8 Capital Summary ......................................................................................................... 14 1.9 Operating Costs ........................................................................................................... 15 1.10 Economic Evaluation ................................................................................................... 16 1.10.1 Discounted Cash Flow Analysis ...................................................................... 20 1.10.2 Sensitivity Analysis ......................................................................................... 20 1.11 Permitting ................................................................................................................... 21 1.12 Conclusion and Recommendations .............................................................................. 21 2 Introduction ............................................................................................................................. 21 2.1 Registrant and Terms of Reference ............................................................................. 21 2.2 Information Sources .................................................................................................... 22 2.3 Scope of Assignment ................................................................................................... 22 2.4 Personal Inspections ................................................................................................... 23 3 Property Description ................................................................................................................ 23 3.1 Location ...................................................................................................................... 23 3.2 Titles, Claims or Leases ................................................................................................ 24 3.3 Mineral Rights ............................................................................................................. 25 3.4 Encumbrances ............................................................................................................. 26 3.5 Other Risks .................................................................................................................. 26 4 Accessibility, Climate, Local Resources, Infrastructure and Physiography ............................... 26 4.1 Topography, Elevation, and Vegetation ....................................................................... 26 4.2 Access and Transport .................................................................................................. 26 4.3 Proximity to Population Centers .................................................................................. 27 4.4 Climate and Length of Operating Season ..................................................................... 27 4.5 Infrastructure .............................................................................................................. 27 5 History ...................................................................................................................................... 28 Alpha Metallurgical Resources, Inc. Statement of Coal Resources and Reserves for the Marfork Mining Complex in Accordance with United States SEC Standards as of December 31, 2023 Central Appalachian Coal Basin West Virginia, USA MARSHAL MILLER & ASSOCIATES, INC. 4 5.1 Previous Operation ..................................................................................................... 28 5.2 Previous Exploration ................................................................................................... 28 6 Geological Setting, Mineralization and Deposit ....................................................................... 28 6.1 Regional, Local and Property Geology ......................................................................... 28 6.2 Mineralization ............................................................................................................. 29 6.3 Deposits ...................................................................................................................... 31 7 Exploration ............................................................................................................................... 32 7.1 Nature and Extent of Exploration ................................................................................ 32 7.2 Drilling Procedures ...................................................................................................... 35 7.3 Hydrology .................................................................................................................... 35 7.4 Geotechnical Data ....................................................................................................... 36 8 Sample Preparation Analyses and Security .............................................................................. 36 8.1 Prior to Sending to the Lab .......................................................................................... 36 8.2 Lab Procedures............................................................................................................ 37 9 Data Verification ...................................................................................................................... 37 9.1 Procedures of Qualified Person ................................................................................... 37 9.2 Limitations .................................................................................................................. 38 9.3 Opinion of Qualified Person ........................................................................................ 38 10 Mineral Processing and Metallurgical Testing .......................................................................... 38 10.1 Testing Procedures ...................................................................................................... 38 10.2 Relationship of Tests to the Whole .............................................................................. 39 10.3 Lab Information ........................................................................................................... 39 10.4 Relevant Results .......................................................................................................... 39 11 Mineral Resource Estimates ..................................................................................................... 40 11.1 Assumptions, Parameters and Methodology ............................................................... 40 11.1.1 Geostatistical Analysis ................................................................................... 42 11.2 Resources Exclusive of Reserves .................................................................................. 46 11.2.1 Initial Economic Assessment .......................................................................... 47 11.3 Qualified Person’s Estimates ....................................................................................... 49 11.4 Qualified Person’s Opinion .......................................................................................... 50 12 Mineral Reserve Estimates ....................................................................................................... 51 12.1 Assumptions, Parameters and Methodology ............................................................... 51 12.2 Mineral Reserves ......................................................................................................... 52 12.2.1 Surface Reserves ............................................................................................ 53 12.2.2 Underground Reserves .................................................................................. 54

Alpha Metallurgical Resources, Inc. Statement of Coal Resources and Reserves for the Marfork Mining Complex in Accordance with United States SEC Standards as of December 31, 2023 Central Appalachian Coal Basin West Virginia, USA MARSHAL MILLER & ASSOCIATES, INC. 5 12.2.3 Laurel Hernshaw (Map 2)............................................................................... 54 12.2.4 Coon/Ellis Upper Cedar Grove (UCG) (Map 3) ................................................ 54 12.2.5 Titan Middle Cedar Grove (MCG) (Map 4) ...................................................... 54 12.2.6 Low Gap Middle Cedar Grove (MCG) (Map 4) ................................................ 55 12.2.7 Black King Lower Cedar Grove (LCG) (Map 5) ................................................. 55 12.2.8 Berwind Area Lower Cedar Grove Seam (LCG) (Map 5) .................................. 55 12.2.9 Bee Tree Powellton Seam (Map 6) ................................................................. 55 12.2.10 Marfork/Workman Area Upper Eagle (Map 7A) ............................................. 55 12.2.11 Panther Eagle Seam (Map 9) .......................................................................... 55 12.2.12 Horse Creek Eagle Seam (Map 9) ................................................................... 56 12.2.13 Black Eagle Mine - Eagle Seam (Map 9) .......................................................... 56 12.2.14 Dow Fork Eagle Seam (Map 9) ....................................................................... 56 12.2.15 Marfork/Workman Glen Alum Tunnel Seam (Map 10) ................................... 56 12.2.16 Workman Beckley Seam (Map 11) ................................................................. 56 12.3 Qualified Person’s Estimates ....................................................................................... 57 12.4 Qualified Person’s Opinion .......................................................................................... 58 13 Mining Methods ....................................................................................................................... 58 13.1 Geotech and Hydrology ............................................................................................... 58 13.2 Production Rates ......................................................................................................... 58 13.3 Mining Related Requirements ..................................................................................... 62 13.3.1 Underground ................................................................................................. 62 13.4 Required Equipment and Personnel ............................................................................ 63 13.4.1 Surface Mines ................................................................................................ 63 13.4.2 Underground Mines ....................................................................................... 66 14 Processing and Recovery Methods ........................................................................................... 73 14.1 Description or Flowsheet............................................................................................. 73 14.2 Requirements for Energy, Water, Material and Personnel ........................................... 73 15 Infrastructure ........................................................................................................................... 74 15.1 Marfork Preparation Plant ........................................................................................... 74 15.2 Workman’s Creek Coal Handling Facility ...................................................................... 76 15.3 Underground Conveyor Coal Transport System ........................................................... 77 15.5 Proposed Coal Handling Facility on Browns Branch of West Fork ................................ 78 15.6 Black Eagle Mine and Browns Branch Coal Handling to Marfork Preparation Plant...... 79 16 Market Studies ......................................................................................................................... 79 16.1 Market Description ..................................................................................................... 79 16.2 Price Forecasts ............................................................................................................ 80 16.3 Contract Requirements ............................................................................................... 80 Alpha Metallurgical Resources, Inc. Statement of Coal Resources and Reserves for the Marfork Mining Complex in Accordance with United States SEC Standards as of December 31, 2023 Central Appalachian Coal Basin West Virginia, USA MARSHAL MILLER & ASSOCIATES, INC. 6 17 Environmental Studies, Permitting and Plans, Negotiations or Agreements with Local Individuals ....................................................................................................................... 81 17.1 Results of Studies ........................................................................................................ 81 17.2 Requirements and Plans for Waste Disposal ................................................................ 81 17.3 Permit Requirements and Status ................................................................................. 82 17.4 Local Plans, Negotiations or Agreements ..................................................................... 85 17.5 Mine Closure Plans ...................................................................................................... 85 17.6 Qualified Person’s Opinion .......................................................................................... 85 18 Capital and Operating Costs ..................................................................................................... 85 18.1 Capital Cost Estimate................................................................................................... 85 18.2 Operating Cost Estimate .............................................................................................. 89 19 Economic Analysis .................................................................................................................... 90 19.1 Economic Evaluation ................................................................................................... 90 19.1.1 Introduction................................................................................................... 90 19.1.2 Cash Flow Summary ....................................................................................... 95 19.1.3 Discounted Cash Flow Analysis ...................................................................... 97 19.1.4 Sensitivity Analysis ......................................................................................... 98 20 Adjacent Properties.................................................................................................................. 98 20.1 Information Used ........................................................................................................ 98 21 Other Relevant Data and Information ...................................................................................... 99 22 Interpretation and Conclusions ................................................................................................ 99 22.1 Conclusion................................................................................................................... 99 22.2 Risk Factors ................................................................................................................. 99 22.2.1 Governing Assumptions ............................................................................... 100 22.2.2 Limitations ................................................................................................... 101 22.2.3 Methodology ............................................................................................... 101 22.2.4 Development of the Risk Matrix .................................................................. 102 22.2.5 Categorization of Risk Levels and Color Code Convention ............................ 104 22.2.6 Description of the Coal Property .................................................................. 104 22.2.7 Summary of Residual Risk Ratings ................................................................ 105 22.2.8 Risk Factors .................................................................................................. 105 23 Recommendations ................................................................................................................. 112 24 References.............................................................................................................................. 112 25 Reliance on Information Provided by Registrant ................................................................... 112

Alpha Metallurgical Resources, Inc. Statement of Coal Resources and Reserves for the Marfork Mining Complex in Accordance with United States SEC Standards as of December 31, 2023 Central Appalachian Coal Basin West Virginia, USA MARSHAL MILLER & ASSOCIATES, INC. 7 FIGURES (IN REPORT) Figure 1-1: Alpha’s Marfork Property Location Map .......................................................................... 10 Figure 1-2: Projected Capital Expenditures – Consolidated Marfork Mining Complex ........................ 15 Figure 1-3: Marfork Mining Complex Operating Costs ....................................................................... 16 Figure 1-4: Sensitivity of NPV ............................................................................................................ 20 Figure 6-1: Workman Creek Stratigraphic Column ............................................................................. 30 Figure 6-2: Marfork Stratigraphic Column ......................................................................................... 31 Figure 7-1: Workman Creek Cross-Section......................................................................................... 33 Figure 7-2: Marfork Underground Mine Cross-Section ...................................................................... 34 Figure 11-1: Histogram of the Total Seam Thickness for the Eagle Seam Present in the Marfork Mining Complex .............................................................................................................. 43 Figure 11-2: Scatter plot of the Total Seam Thickness for the Eagle Seam Present in the Marfork Mining Complex .............................................................................................................. 43 Figure 11-3: Variogram of the Total Seam Thickness for the Eagle Seam Present in the Marfork Mining Complex .............................................................................................................. 44 Figure 11-4: Result of DHSA for the Eagle Seam Present in the Marfork Mining Complex ................... 45 Figure 11-5: Results of Initial Economic Assessment .......................................................................... 49 Figure 13-1: Workman Creek Surface Mine and Permit Areas Aerial View ......................................... 63 Figure 15-1: Workman Creek Surface Facilities .................................................................................. 75 Figure 15-2: Marfork Facilities ........................................................................................................... 75 Figure 15-3: Workman’s Creek Coal Handling Facility ........................................................................ 76 Figure 15-4: Underground Conveyor Coal Transport System ............................................................. 78 Figure 18-1: Projected Capital Expenditures – Consolidated Marfork Operations .............................. 86 Figure 18-2: Marfork Operating Costs ............................................................................................... 90 Figure 19-1: Projection of Sales Tons ................................................................................................. 91 Figure 19-2: Consolidated Annual Revenue ....................................................................................... 92 Figure 19-3: Revenue, Cash Costs, and EBITDA .................................................................................. 93 Figure 19-4: Annual EBITDA ............................................................................................................... 95 Figure 19-5: Net Cash Flow after Tax (Before Debt Service) ............................................................... 97 Figure 19-6: Sensitivity of NPV .......................................................................................................... 98 TABLES (IN REPORT) Table 1-1: Coal Resources Summary as of December 31, 2023 .......................................................... 12 Table 1-2: Coal Reserves Summary (Marketable Sales Basis) as of December 31, 2023 ..................... 14 Table 1-3: Life-of-Mine Tonnage, P&L before Tax, and EBITDA .......................................................... 17 Table 1-4: Project Cash Flow Summary (000) ..................................................................................... 18 Table 2-1: Information Provided to MM&A by Alpha ......................................................................... 22 Table 3-1: Mineral Control – Mid-West Virginia (Marfork) Complex .................................................. 24 Table 11-1: General Reserve & Resource Criteria .............................................................................. 41 Table 11-2: DHSA Results Summary for Radius from a Central Point ................................................. 45 Table 11-3: Results of Initial Economic Assessment ($/ton) ............................................................... 48 Alpha Metallurgical Resources, Inc. Statement of Coal Resources and Reserves for the Marfork Mining Complex in Accordance with United States SEC Standards as of December 31, 2023 Central Appalachian Coal Basin West Virginia, USA MARSHAL MILLER & ASSOCIATES, INC. 8 Table 11-4: Coal Resources Summary as of December 31, 2023 ........................................................ 49 Table 12-1: Workman Creek Coal Reserves Summary (Marketable Sales Basis) as of December 31, 2023 ................................................................................................................................ 53 Table 12-2: Coal Reserves Summary (Marketable Sales Basis) as of December 31, 2023 ................... 57 Table 13-1: Marfork Mining Complex Underground Mine Production Schedule (x 1,000 Saleable Tons) ............................................................................................................................... 59 Table 13-2: Marfork Mining Complex Surface Mine Production Schedule (x 1,000 Saleable Tons) ..... 61 Table 13-3: Marfork Mining Complex Highwall Mine Production Schedule (x 1,000 Saleable Tons) ... 62 Table 15-1: Browns Branch Coal Handling Facility ............................................................................. 78 Table 15-2: Black Eagle Coal Handling Facility.................................................................................... 79 Table 16-1: Quality Specifications...................................................................................................... 79 Table 16-2: Price Forecasts ................................................................................................................ 80 Table 17-1: Marfork Refuse Disposal Summary ................................................................................. 81 Table 17-2: Marfork Mining Permits .................................................................................................. 84 Table 18-1: Summary of Capital Expenditures Schedule by Mine....................................................... 87 Table 18-2: Estimated Coal Production Taxes and Sales Costs ........................................................... 89 Table 19-1: Life-of-Mine Tonnage, P&L before Tax, and EBITDA ........................................................ 94 Table 19-2: Project Cash Flow Summary (000) ................................................................................... 95 Table 22-1: Probability Level Table .................................................................................................. 102 Table 22-2: Consequence Level Table .............................................................................................. 103 Table 22-3: Risk Matrix .................................................................................................................... 104 Table 22-4: Risk Assessment Matrix ................................................................................................ 105 Table 22-5: Geological and Coal Resource Risk Assessment (Risks 1 and 2) ..................................... 106 Table 22-6: Environmental (Risks 3 and 4) ....................................................................................... 107 Table 22-7: Regulatory Requirements (Risk 5) ................................................................................. 107 Table 22-8: Market and Transportation (Risk 6)............................................................................... 108 Table 22-9: Market and Transportation (Risk 7)............................................................................... 108 Table 22-10: Methane Management (Risk 8) ................................................................................... 109 Table 22-11: Mine Fires (Risk 9)....................................................................................................... 109 Table 22-12: Ground Control (Risk 10) ............................................................................................. 110 Table 22-13: Availability of Supplies and Equipment (Risk 11) ......................................................... 110 Table 22-14: Labor – Work Stoppage (Risk 12) ................................................................................ 111 Table 22-15: Labor – Retirement (Risk 13) ....................................................................................... 111 Table 22-16: Health and Safety (Risk 14) ......................................................................................... 111 Table 25-1: Information from Registrant Relied Upon by MM&A .................................................... 112 Appendices A .............................................................................................................................. Summary Tables B ......................................... Initial Economic Assessment Resources Exclusive of Reserves (per Ton) C ............................................................................................................................................... Maps

Alpha Metallurgical Resources, Inc. Statement of Coal Resources and Reserves for the Marfork Mining Complex in Accordance with United States SEC Standards as of December 31, 2023 Central Appalachian Coal Basin West Virginia, USA MARSHAL MILLER & ASSOCIATES, INC. 13 Coal Resource (Dry Tons, In Situ) Area/Mine Seam Measured Indicated Inferred Total Exclusive of Reserve Workman Creek Surface Multi 3,981,000 848,000 5,000 4,834,000 Workman Creek HWM Multi 0 0 0 0 Elk Run - Seng Creek Chilton 14,555,000 11,353,000 0 25,907,000 Black King Upper Cedar Grove 25,826,000 2,064,000 0 27,891,000 Titan Middle Cedar Grove 393,000 8,000 0 401,000 Black King LCG Lower Cedar Grove 4,589,000 644,000 0 5,234,000 Powellon 10-B Powellton 3,533,000 211,000 0 3,744,000 Slip Ridge Powellton Powellton 656,000 17,000 0 673,000 Laurel Branch Upper Eagle 6,880,000 1,863,000 0 8,743,000 Marfork Eagle A 14,547,000 5,555,000 8,000 20,109,000 Dow Fork Eagle 0 0 1,320,000 1,320,000 Panther Eagle Eagle 2,762,000 495,000 0 3,257,000 Sycamore Eagle 7,278,000 896,000 0 8,173,000 Glen Alum Tunnel Glen Alum Tunnel 1,936,000 1,747,000 223,000 3,906,000 Workman Beckley 2,934,000 5,605,000 57,000 8,596,000 Mountain Laurel Beckley 14,800,000 14,565,000 55,000 29,420,000 Mountain Laurel Fire Creek 4,389,000 1,506,000 0 5,895,000 Subtotal Subtotal 109,059,000 47,377,000 1,667,000 158,103,000 Grand Total Inclusive of Reserve 229,957,000 92,606,000 228,000 322,790,000 Exclusive of Reserve 109,059,000 47,377,000 1,667,000 158,103,000 Grand Total 339,016,000 139,983,000 1,895,000 480,894,000 Note (1): Resource tons are inclusive of reserve tons since they include the in-situ tons from which recoverable coal reserves are derived. Note (2): Coal resources are reported on a dry basis. Surface moisture and inherent moisture are excluded. Note (3): The Property contains 156.4 million tons (Mt) of dry, in-place measured and indicated coal resources exclusive of reserves (not converted to reserve) as of December 31, 2023. Totals may not add due to rounding. See Appendix A for detailed breakdown. 1.7 Mineral Reserve The Resource estimate outlined in Table 1-1 inclusive of reserves has been used as the basis for this Reserve calculation, which utilizes a reasonable Preliminary Feasibility Study, a Life-of Mine (LOM) Mine Plan and practical recovery factors. Production modeling was completed with an effective start date of October 1, 2023 for the underground mines, and July 1, 2023 for the surface mines. Factors that would typically preclude conversion of a coal resource to coal reserve, include the following: inferred resource classification; absence of coal quality; poor mine recovery; lack of access; geological encumbrances associated with overlying and underlying strata; seam thinning; structural complication; and insufficient exploration have all been considered. Reserve consideration excludes those portions of the resource area that exhibit geological and operational encumbrances. Proven and probable coal reserves were derived from the defined in-situ coal resource considering relevant processing, economic (including technical estimates of capital, revenue, and cost), marketing, legal, environmental, socioeconomic, and regulatory factors. The proven and probable coal reserves on the Property are summarized below in Table 1-2. Alpha Metallurgical Resources, Inc. Statement of Coal Resources and Reserves for the Marfork Mining Complex in Accordance with United States SEC Standards as of December 31, 2023 Central Appalachian Coal Basin West Virginia, USA MARSHAL MILLER & ASSOCIATES, INC. 14 Table 1-2: Coal Reserves Summary (Marketable Sales Basis) as of December 31, 2023 Demonstrated Coal Reserves (Wet Tons, Washed or Direct Shipped) Quality (Dry Basis) By Reliability Category By Permit Status By Control Type Seam Proven Probable Total Permitted Not Permitted Owned Leased Ash % Sulfur % VM % Workman Creek Surface 0 15,495,000 15,495,000 15,495,000 0 67,000 15,427,000 10 0.9 - Workman Creek HWM 4,249,000 64,000 4,313,000 3,544,000 769,000 0 4,313,000 6 0.9 - Hernshaw 3,562,000 1,021,000 4,583,000 0 4,583,000 0 4,583,000 5 0.8 36 Upper Cedar Grove 1,666,000 25,000 1,691,000 1,691,000 0 0 1,691,000 6 1.0 35 Middle Cedar Grove 632,000 5,238,000 5,870,000 3,932,000 1,938,000 0 5,870,000 6 1.1 37 Lower Cedar Grove 10,634,000 1,437,000 12,071,000 4,509,000 7,562,000 0 12,071,000 5 0.8 36 Powellton 336,000 116,000 452,000 275,000 177,000 0 452,000 2 0.8 - Upper Eagle 1,016,000 6,000 1,021,000 0 1,021,000 0 1,021,000 6 0.8 30 Eagle 16,052,000 7,418,000 23,470,000 16,997,000 6,474,000 368,000 23,102,000 5 0.8 33 Glen Alum Tunnel 1,847,000 708,000 2,555,000 1,285,000 1,269,000 219,000 2,335,000 5 0.9 26 Beckley 13,339,000 12,793,000 26,132,000 2,924,000 23,207,000 1,558,000 24,573,000 5 0.9 20 Grand Total 53,333,000 44,320,000 97,652,000 50,651,000 47,001,000 2,214,000 95,438,000 6 0.9 30 Notes: Marketable reserve tons are reported on a moist basis, including a combination of surface and inherent moisture. Coal quality is based on a weighted average of laboratory analysis from core holes. The combination of surface and inherent moisture is modeled at 6.0-percent. Actual product moisture is dependent upon multiple geological factors, operational factors, and product contract specifications and can exceed 8-percent. As such, the modeled moisture values provide a level of conservatism for reserve reporting. Raw quality and some volatile matter analysis not available for Workman Creek. Workman Creek surface reserves were priced at 70% High-Vol. A and 30% thermal product. Workman Creek Surface is modeled as 55% direct-ship and 45% washed to mimic what Alpha is doing, however without any raw quality data for the surface seams a quality composite could not be prepared. See Appendix A for detailed breakdown. Totals may not add due to rounding. In summary, Alpha controls a total of 97.65 million tons (Mt) (moist basis) of marketable coal reserves at Marfork. Of that total, 55 percent are proven, and 45 percent are probable. Due to the lack of raw coal quality information, all Workman Creek surface reserves have been classified as Probable, even though it is an active operation with sales into the thermal and metallurgical markets. Approximately 2.21 Mt are owned, and the remaining 95.44 Mt are leased coal reserves. Of the total, 50.65 Mt are permitted, and the remaining 47.00 Mt are not permitted. The maps included in Appendix C reflect mining depletion at the time of the resource/reserve calculation taken from Alpha mine maps as of September 30, 2023 for underground mines and as of June 30, 2023 for surface mines. Mine depletion tonnages were supplied by Alpha through the end of 2023, and MM&A deducted this historical production from the mapped reserves to estimate reserves as of December 31, 2023. 1.8 Capital Summary Alpha provided MM&A with information related to the number of currently operating production units at the Marfork Mining Complex. MM&A’s capital schedules assume that major equipment rebuilds occur over the course of each machine’s remaining assumed operating life. Replacement equipment was scheduled based on MM&A’s experience and knowledge of mining equipment and industry standards with respect to the useful life of such equipment. As one mine is depleted, the equipment is moved to its replacement.

Alpha Metallurgical Resources, Inc. Statement of Coal Resources and Reserves for the Marfork Mining Complex in Accordance with United States SEC Standards as of December 31, 2023 Central Appalachian Coal Basin West Virginia, USA MARSHAL MILLER & ASSOCIATES, INC. 41 Table 11-1: General Reserve & Resource Criteria Item Parameters Technical Notes & Exceptions* • General Reserve Criteria Reserve Classification Reserve and Resource Coal resources as reported are inclusive and exclusive of coal reserves. Reliability Categories Reserve (Proven and Probable) Resource (Measured, Indicated & Inferred) To better reflect geological conditions of the coal deposits, distance between points of observation is determined via statistical analysis Proven and Measured Classification 0.25 Mile, (1320’) Projection form Measurement Point Based on 11.1.1 Analysis Probable and Indicated Classification 0.25 to 0.75 Mile, (1320’ to 3960’) Projection form Measurement Point Based on 11.1.1 Analysis; Required for Reserve or Resource Classification Inferred Classification 0.75 to 3.0 Mile, (3960’ to 15,840) Projection form Measurement Point Based on 11.1.1 Analysis Effective Date of Resource Estimate December 31, 2023 Coal resources were estimated based upon depletion maps as of September 30, 2023 for underground mines and as of June 30, 2023 for surface mines, along with third and fourth quarter 2023 production depletion adjustment. Effective Date of Reserve Estimate December 31, 2023 Coal reserves were estimated based upon depletion maps as of September 30, 2023 for underground mines and as of June 30, 2023 for surface mines, along with third and fourth quarter 2023 production depletion adjustment. Seam Density - with Raw Seam Analysis 1.25 + (Raw Ash% / 100) Seam Density - without Raw Seam Analysis Estimated by (1) assuming specific gravity of 1.30 for coal and 2.25 for rock parting • Underground-Mineable Criteria Map Thickness Total seam thickness Minimum Seam Thickness 25 inches Glen Alum Seam; 30 inches all Other Seams Minor Exceptions for localized zones of thinner coal Minimum Mining Thickness 54 inches Minimum Total Coal Thickness 25 inches Glen Alum Seam; 30 inches all Other Seams Minor Exceptions for localized zones of thinner coal Minimum In-Seam Wash Recovery Determined as function of seam thickness Wash Recovery Applied to Coal Reserves Based on average yield for drill holes within reserve area, or in the absence of laboratory washability data, based on estimated visual recovery using specific gravities noted above and 95 percent yield on "clean" coal Out-of-Seam Dilution Thickness for Run-of-Mine Tons Applied to ROM tonnages Delta between minimum mining thickness (54 inches) and seam thickness 2 inches minimum OSD Mine Barrier 200-foot distance from abandoned mines and 50’ sealed or pillared areas of active Alpha mines Minimum Reserve Tonnage 400 thousand recoverable tons for individual area (logical mining unit) Minimum Overburden Depth 100 feet Minimum Interval to Rider Coal Considered on a case-by-case basis, depending on interval lithology, etc. Minimum Interval to Overlying or Underlying Reserves Considered on a case-by-case basis, depending on interval lithology, extent, and type of extraction, etc. Minimum Interval to Overlying or Underlying Mined Areas Considered on a case-by-case basis, depending on interval lithology, extent, and type of extraction, etc. Adjustments Applied to Coal Reserves 6.0 percent moisture increase; 5 percent preparation plant inefficiency • Surface-mineable Criteria Mining Type Surface mining Highwall mining (HWM) Coal Density Used laboratory apparent specific gravity data where available. Otherwise use raw ash formula: Sp. Gr. = (% Raw Ash/100) + 1.25 Alpha Metallurgical Resources, Inc. Statement of Coal Resources and Reserves for the Marfork Mining Complex in Accordance with United States SEC Standards as of December 31, 2023 Central Appalachian Coal Basin West Virginia, USA MARSHAL MILLER & ASSOCIATES, INC. 42 Item Parameters Technical Notes & Exceptions* Used estimated specific gravity based on 1.30 specific gravity for coal and 2.25 specific gravity for rock where no lab data was available. This is also referred to as EVR or Estimated Visual Recovery method. EXCEPTION: Used 1800 tons per acre foot for seams with no quality data on surface reserve calculation Surface Property Control Controlled Surface-mineable coal resource estimated where mineral and surface rights are controlled. No resource estimated if mineral rights are not controlled. Uncontrolled Surface-mineable coal resource estimated where surface is uncontrolled if mineral rights are controlled. Basis for Coal Tonnage Thickness of recoverable coal less removable partings Minimum thickness of removable parting for surface- mineable seam is 0.25-foot generally. Minimum Total seam thickness for Single Cut Contour 2.0 feet (*) Minimum Thickness of Principal Seam in Multi-Seam Areas 1.0 foot (*) Minimum Thickness of Secondary Seam 0.5 foot Secondary seam is within 2.5 feet of principal seam Mine Strip Ratio 18:1 BCY /ton ratio for metallurgical coal & 15:1 BCY/ton for thermal coal surface mine strip ratios are targets and can vary some by cut or job. Minimum Total seam thickness for High Wall Miner 2.0 feet (*) Seam thickness can vary within a panel. Areas Considered for Surface- mineable Coal Resource Permitted and potential permit areas provided by Alpha Note: Exceptions for application of these criteria to reserve estimation are made as warranted and demonstrated by either actual mining experience or detailed data that allows for empirical evaluation of mining conditions. Final classification of coal reserve is made based on the pre-feasibility evaluation. 11.1.1 Geostatistical Analysis MM&A completed a geostatistical analysis on drill holes within the reserve boundaries to determine the applicability of the common United States classification system for measured and indicated coal resources. Historically, the United States has assumed that coal within ¼-mile (1,320 feet) of a point of observation represents a measured resource whereas coal between ¼-mile (1,320 feet) and ¾-mile (3,960 feet) from a point of observation is classified as indicated. Inferred resources are commonly assumed to be located between ¾-mile (3,960 feet) and 3 miles (15,840 feet) from a point of observation. Per SEC regulations, only measured and indicated resources may be considered for reserve classification, respectively as proven and probable reserves. MM&A performed a geostatistical analysis test of the Marfork Eagle data set using the Drill Hole Spacing Analysis (DHSA) method. This method attempts to quantify the uncertainty of applying a measurement from a central location to increasingly larger square blocks and provides recommendations for determining the distances between drill holes for measured, indicated, and inferred resources. To perform DHSA the data set was processed to remove any erroneous data points, clustered data points, as well as directional trends. This was achieved using histograms, as seen in Figure 11-1, color coded scatter plots showing the geospatial positioning of the borings, Figure 11-2, and trend analysis.

APPENDIX A SUMMARY TABLES Alpha Metallurgical Resources 2023 SEC Update - Marfork Summary of Coal Resource (Short Tons) • Effective December 31, 2023 Appendix A Table 1 Mine/Area Seam Measured Indicated Total Inferred Grand Total Owned Leased Permitted Not Permitted Ash% Sulfur% VM% Workman Creek Surface Multi 3,981,000 848,000 4,829,000 5,000 4,834,000 0 4,829,000 4,829,000 0 - - - Workman Creek HWM Multi 0 0 0 0 0 0 0 0 0 - - - Seng Creek Chilton 14,555,000 11,353,000 25,907,000 0 25,907,000 25,907,000 0 0 25,907,000 - - - Black King Upper Cedar Grove 25,826,000 2,064,000 27,891,000 0 27,891,000 0 27,891,000 0 27,891,000 - - - Titan Middle Cedar Grove 393,000 8,000 401,000 0 401,000 0 401,000 401,000 0 - - - Black King LCG Lower Cedar Grove 4,589,000 644,000 5,234,000 0 5,234,000 0 5,234,000 0 5,234,000 7 0.8 - Powellon 10-B Powellton 3,533,000 211,000 3,744,000 0 3,744,000 0 3,744,000 0 3,744,000 - - - Slip Ridge Powellton Powellton 656,000 17,000 673,000 0 673,000 0 673,000 237,000 435,000 5 0.9 - Laurel Branch Upper Eagle 6,880,000 1,863,000 8,743,000 0 8,743,000 0 8,743,000 0 8,743,000 8 0.8 - Marfork (Eagle A) Eagle A 14,547,000 5,555,000 20,101,000 8,000 20,109,000 0 20,101,000 0 20,101,000 8 1.8 - Dow Fork Eagle 0 0 0 1,320,000 1,320,000 0 0 0 0 36 0.7 - Panther Eagle Eagle 2,762,000 495,000 3,257,000 0 3,257,000 0 3,257,000 3,257,000 0 13 1.5 - Sycamore Eagle 7,278,000 896,000 8,173,000 0 8,173,000 0 8,173,000 0 8,173,000 - - - Glen Alum Tunnel Glen Alum Tunnel 1,936,000 1,747,000 3,684,000 223,000 3,906,000 0 3,684,000 3,684,000 0 45 0.9 4 Workman Beckley 2,934,000 5,605,000 8,539,000 57,000 8,596,000 0 8,539,000 0 8,539,000 20 1.3 - Mountain Laurel Beckley 14,800,000 14,565,000 29,365,000 55,000 29,420,000 29,365,000 0 0 29,365,000 - - - Mountain Laurel Fire Creek 4,389,000 1,506,000 5,895,000 0 5,895,000 5,895,000 0 0 5,895,000 4 0.7 20 Total 109,059,000 47,377,000 156,436,000 1,667,000 158,103,000 61,168,000 95,268,000 12,408,000 144,028,000 22 1.0 17 Note(1): Resource tons are exclusive of reserve tons (not converted to reserve). Note (2): Coal resources are reported on a dry basis. Surface moisture and inherent moisture are excluded. Note (3): The Property contains 156.4 million tons (Mt) of dry, in-place measured and indicated coal resources exclusive of reserves as of December 31, 2023. All resources exclusive of reserves are considered a met market. Totals may not add due to rounding. Quality (Dry Basis) By Permit StatusBy Reliability Category Coal Resource (Dry Tons, In Situ) By Control Type AMR118 Marfork Tables (2024-01-24).xlsx • MWVU ANR Resource Report • 1/26/2024 Page 1 of 1

Alpha Metallurgical Resources 2023 SEC Update - Marfork Summary of Coal Reserves (Short Tons) • Effective December 31, 2023 Appendix A Table 2 By Permit Status By Market Mine/Area Mine Proven Probable Total Surface UG Owned Leased Permitted Not Permitted Thermal Met Ash% Sulfur% VM% Workman Creek Surface Multi 0 15,495,000 15,495,000 15,495,000 0 67,000 15,427,000 15,495,000 0 4,648,000 10,846,000 10 0.9 - Workman Creek HWM Multi 4,249,000 64,000 4,313,000 4,313,000 0 0 4,313,000 3,544,000 769,000 0 4,313,000 6 0.9 - Laurel Area Hernshaw 3,562,000 1,021,000 4,583,000 0 4,583,000 0 4,583,000 0 4,583,000 0 4,583,000 5 0.8 36 Coon Cedar Grove Upper Cedar Grove 765,000 18,000 783,000 0 783,000 0 783,000 783,000 0 0 783,000 7 1.1 35 Ellis Cedar Grove Upper Cedar Grove 901,000 7,000 908,000 0 908,000 0 908,000 908,000 0 0 908,000 5 0.9 - Titan Middle Cedar Grove 0 5,238,000 5,238,000 0 5,238,000 0 5,238,000 3,932,000 1,306,000 0 5,238,000 6 1.1 37 Low Gap Middle Cedar Grove 632,000 0 632,000 0 632,000 0 632,000 0 632,000 0 632,000 6 0.8 - Black King LCG Lower Cedar Grove 8,535,000 1,383,000 9,917,000 0 9,917,000 0 9,917,000 4,509,000 5,409,000 0 9,917,000 5 0.7 36 Berwind Lower Cedar Grove 2,100,000 54,000 2,154,000 0 2,154,000 0 2,154,000 0 2,154,000 0 2,154,000 5 0.9 - Beetree Powellton 336,000 116,000 452,000 0 452,000 0 452,000 275,000 177,000 0 452,000 2 0.8 - Workman Upper Eagle 1,016,000 6,000 1,021,000 0 1,021,000 0 1,021,000 0 1,021,000 0 1,021,000 6 0.8 30 Black Eagle Eagle 6,588,000 3,838,000 10,426,000 0 10,426,000 98,000 10,328,000 6,926,000 3,500,000 0 10,426,000 5 0.8 35 Dow Fork Eagle 6,935,000 3,064,000 10,000,000 0 10,000,000 270,000 9,729,000 7,026,000 2,973,000 0 10,000,000 5 0.7 32 Panther Eagle Eagle 2,232,000 448,000 2,680,000 0 2,680,000 0 2,680,000 2,680,000 0 0 2,680,000 4 1.1 34 Horse Creek Eagle 297,000 68,000 364,000 0 364,000 0 364,000 364,000 0 0 364,000 4 1.1 34 Glen Alum Tunnel Glen Alum Tunnel 1,847,000 708,000 2,555,000 0 2,555,000 219,000 2,335,000 1,285,000 1,269,000 0 2,555,000 5 0.9 26 Workman Beckley 13,339,000 12,793,000 26,132,000 0 26,132,000 1,558,000 24,573,000 2,924,000 23,207,000 0 26,132,000 5 0.9 20 Grand Total Grand Total 53,333,000 44,320,000 97,652,000 19,807,000 77,845,000 2,214,000 95,438,000 50,651,000 47,001,000 4,648,000 93,004,000 6 0.9 30 Notes: Marketable reserve tons are reported on a moist basis, including a combination of surface and inherent moisture. Coal quality is based on a weighted average of laboratory analysis from core holes. The combination of surface and inherent moisture is modeled at 6.0-percent. Actual product moisture is dependent upon multiple geological factors, operational factors, and product contract specifications and can exceed 8-percent. As such, the modeled moisture values provide a level of conservatism for reserve reporting. Totals may not add due to rounding. Demonstrated Coal Reserves By Mining TypeBy Reliability Category Quality (Dry Basis)(Wet Tons, Washed or Direct Shipped) By Control Type AMR118 Marfork Tables (2024-02-06).xlsx • MWVU ANR Reserve Report • 2/6/2024 Page 1 of 1 APPENDIX B INITIAL ECONOMIC ASSESSMENT RESOURCES EXCLUSIVE OF RESERVES (PER TON)

Alpha Metallurgical Resources, Inc. Initial Economic Assessment, Resources Exclusive of Reserves (per Ton) Appendix B: Marfork Complex Seam: CH GAT MCG LCG LCG UCG EG EG EG BEC BEC FC POW POW EGA EGA POW GAT Win & Abv. Marfork Marfork Marfork Marfork Marfork Marfork Marfork Marfork Marfork Marfork Marfork Marfork Marfork Marfork Marfork Marfork Marfork Marfork Marfork Area: Elk Run Seng Creek Chilton Glen Alum Tunnel Block E Titan Middle Cedar Grove Block D Black King I Block A1 Black King I Block C Black King UCG Dow Fork Eagle Sycamore Eagle Panther Eagle Beckley Mt. Laurel Beckley Workman Firecreek Mt. Laurel Laurel Br Upper Eagle Powellton Block 10-B Marfork Eagle A Block A Marfork Eagle A Blocks B&C Slip Ridge Powellton Glen Alum Block B1 Workman Creek (WIN & Above) In-Place Resource Tons (not adjusted for Q4 2023 Depletion) 25,907,000 3,683,572 401,000 2,065,000 3,169,000 27,891,000 1,319,948 8,105,000 3,256,899 29,420,000 8,596,000 5,895,000 8,743,000 3,744,000 5,831,213 14,278,000 672,892 222,668 6,561,580 Potentially Recoverable Tons* 6,087,692 997,432 164,970 834,852 1,286,197 8,949,706 255,618 2,775,028 1,197,538 6,928,697 2,216,225 1,642,161 2,945,628 1,085,980 2,330,284 4,703,623 285,693 54,108 5,306,033 Mining Method Deep - CM Deep - CM Deep - CM Deep - CM Deep - CM Deep - CM Deep - CM Deep - CM Deep - CM Deep - CM Deep - CM Deep - CM Deep - CM Deep - CM Deep - CM Deep - CM Deep - CM Deep - CM Surface Assumed Sales Realization at Plant** 140$ 140$ 140$ 140$ 140$ 140$ 140$ 140$ 140$ 140$ 140$ 140$ 140$ 140$ 140$ 140$ 140$ 140$ 140$ Initial Capex Estimate to Access Resources*** 29,000,000$ 9,000,000$ 2,000,000$ -$ 9,000,000$ 73,000,000$ -$ 29,000,000$ -$ 183,000,000$ 17,000,000$ 29,000,000$ 9,000,000$ 9,000,000$ 9,000,000$ 9,000,000$ 3,500,000$ -$ 812,000$ Direct Mining Costs: Labor**** 19.44$ 35.04$ 30.65$ 32.37$ 27.34$ 38.03$ 28.53$ 25.05$ 26.15$ 35.07$ 27.67$ 37.70$ 35.48$ 30.58$ 29.14$ 32.17$ 32.43$ 24.77$ Supplies, Excluding Roof Control 5.95$ 10.25$ 9.38$ 8.89$ 8.37$ 10.44$ 8.73$ 7.67$ 9.34$ 9.63$ 7.60$ 10.35$ 9.74$ 9.36$ 8.92$ 9.85$ 9.93$ 6.81$ Roof Control 4.96$ 11.60$ 7.82$ 7.40$ 6.97$ 8.70$ 7.28$ 6.39$ 7.78$ 8.02$ 6.54$ 8.62$ 8.12$ 7.80$ 7.43$ 8.20$ 8.27$ 5.68$ M&R 13.66$ 8.14$ 10.84$ 12.05$ 11.19$ 12.67$ 15.03$ 11.19$ 14.96$ 11.21$ 9.52$ 12.50$ 13.71$ 12.74$ 12.21$ 13.82$ 14.20$ 11.48$ Power 2.35$ 0.66$ 1.87$ 2.08$ 1.93$ 2.18$ 2.59$ 1.93$ 2.58$ 1.93$ 1.64$ 2.16$ 2.36$ 2.20$ 2.11$ 2.38$ 2.45$ 1.98$ Other 4.00$ 3.97$ 3.18$ 3.53$ 3.28$ 3.71$ 4.41$ 3.28$ 4.39$ 3.29$ 2.79$ 3.66$ 4.02$ 3.73$ 3.58$ 4.05$ 4.16$ 3.36$ Total Direct Cash Costs 50.36$ 69.66$ 63.74$ 66.32$ 59.09$ 75.74$ 66.58$ 55.50$ 65.20$ 69.16$ 55.77$ 74.99$ 73.43$ 66.40$ 63.38$ 70.48$ 71.45$ 54.08$ 55.07$ Transporation, Washing, Environmental & G&A Costs: Coal Prep***** 12.72$ 12.76$ 10.09$ 11.22$ 10.42$ 11.80$ 14.00$ 10.41$ 13.93$ 10.44$ 8.87$ 11.64$ 12.77$ 11.86$ 11.37$ 12.87$ 13.22$ 10.69$ 4.30$ Materials Handling 1.50$ 1.50$ 1.50$ 1.50$ 1.50$ 1.50$ 1.50$ 1.50$ 1.50$ 1.50$ 1.50$ 1.50$ 1.50$ 1.50$ 1.50$ 1.50$ 1.50$ 1.50$ 1.50$ Raw Coal Trucking***** 9.37$ 2.99$ 10.47$ 3.83$ 3.56$ 4.03$ 16.07$ 3.56$ -$ 9.41$ 2.53$ 10.49$ 11.23$ 4.13$ 4.47$ 11.74$ 11.63$ 9.40$ 2.92$ Clean Coal Trucking 1.25$ 1.25$ 1.25$ 1.25$ 1.25$ 1.25$ 1.25$ 1.25$ 1.25$ 1.25$ 1.25$ 1.25$ 1.25$ 1.25$ 1.25$ 1.25$ 1.25$ 1.25$ 0.50$ Enviro****** 0.35$ 0.35$ 0.35$ 0.35$ 0.35$ 0.35$ 0.35$ 0.35$ 0.35$ 0.35$ 0.35$ 0.35$ 0.35$ 0.35$ 0.35$ 0.35$ 0.35$ 0.35$ 0.35$ G&A 6.00$ 5.26$ 6.00$ 6.00$ 6.00$ 6.00$ 6.00$ 6.00$ 6.00$ 6.00$ 6.00$ 6.00$ 6.00$ 6.00$ 6.00$ 6.00$ 6.00$ 6.00$ 4.60$ Total Transporation, Washing, Environmental & G&A Costs: 31.19$ 24.11$ 29.66$ 24.15$ 23.08$ 24.93$ 39.16$ 23.07$ 23.03$ 28.95$ 20.50$ 31.23$ 33.10$ 25.09$ 24.94$ 33.71$ 33.95$ 29.19$ 14.17$ Indirect Cash Costs Royalty 8.40$ 8.40$ 8.40$ 8.40$ 8.40$ 8.40$ 8.40$ 8.40$ 8.40$ -$ 8.40$ -$ 8.40$ 8.40$ 8.40$ 8.40$ 8.40$ 8.40$ 11.90$ Black Lung Excise Tax 0.55$ 0.55$ 0.55$ 0.55$ 0.55$ 0.55$ 0.55$ 0.55$ 0.55$ 0.55$ 0.55$ 0.55$ 0.55$ 0.55$ 0.55$ 0.55$ 0.55$ 0.55$ 0.25$ SMCRA 0.12$ 0.12$ 0.12$ 0.12$ 0.12$ 0.12$ 0.12$ 0.12$ 0.12$ 0.12$ 0.12$ 0.12$ 0.12$ 0.12$ 0.12$ 0.12$ 0.12$ 0.12$ 0.28$ State Severance 7.00$ 2.80$ 1.40$ 1.40$ 2.80$ 1.40$ 7.00$ 7.00$ 1.40$ 2.80$ 7.00$ 1.40$ 1.40$ 2.80$ 1.40$ 2.80$ 1.40$ 1.40$ 7.02$ Property Tax & Insurance 1.40$ 0.70$ 1.40$ 1.40$ 1.40$ 1.40$ 1.40$ 1.40$ 1.40$ 1.40$ 1.40$ 1.40$ 1.40$ 1.40$ 1.40$ 1.40$ 1.40$ 1.40$ 1.00$ Total Indirect Cash Costs 17.47$ 12.57$ 11.87$ 11.87$ 13.27$ 11.87$ 17.47$ 17.47$ 11.87$ 4.87$ 17.47$ 3.47$ 11.87$ 13.27$ 11.87$ 13.27$ 11.87$ 11.87$ 20.45$ Non Cash Costs Amoritiztion of Development Capital 4.76$ 9.02$ 12.12$ -$ 7.00$ 8.16$ -$ 10.45$ -$ 26.41$ 7.67$ 17.66$ 3.06$ 8.29$ 3.86$ 1.91$ 12.25$ -$ 0.12$ Depreciation of Initial Equipment and Sustaining Capital 6.73$ 6.73$ 6.73$ 6.73$ 6.73$ 6.73$ 6.73$ 6.73$ 6.73$ 6.73$ 6.73$ 6.73$ 6.73$ 6.73$ 6.73$ 6.73$ 6.73$ 6.73$ 4.60$ Depletion 1.00$ 1.00$ 1.00$ 1.00$ 1.00$ 1.00$ 1.00$ 1.00$ 1.00$ 1.00$ 1.00$ 1.00$ 1.00$ 1.00$ 1.00$ 1.00$ 2.00$ 3.00$ 1.00$ Total Non Cash 12.50$ 16.76$ 19.86$ 7.73$ 14.73$ 15.89$ 7.73$ 18.18$ 7.73$ 34.14$ 15.40$ 25.39$ 10.79$ 16.02$ 11.60$ 9.65$ 20.98$ 9.73$ 5.72$ Total Cash Cost 99.02$ 106.34$ 105.27$ 102.34$ 95.44$ 112.54$ 123.21$ 96.04$ 100.10$ 102.98$ 93.73$ 109.70$ 118.40$ 104.76$ 100.19$ 117.46$ 117.27$ 95.14$ 89.69$ EBITDA 40.98$ 33.66$ 34.73$ 37.66$ 44.56$ 27.46$ 16.79$ 43.96$ 39.90$ 37.02$ 46.27$ 30.30$ 21.60$ 35.24$ 39.81$ 22.54$ 22.73$ 44.86$ 50.31$ Fully Loaded Cost 111.52$ 123.09$ 125.13$ 110.08$ 110.17$ 128.43$ 130.94$ 114.23$ 107.83$ 137.13$ 109.14$ 135.09$ 129.19$ 120.78$ 111.79$ 127.10$ 138.25$ 104.87$ 95.41$ Fully Loaded P&L 28.48$ 16.91$ 14.87$ 29.92$ 29.83$ 11.57$ 9.06$ 25.77$ 32.17$ 2.87$ 30.86$ 4.91$ 10.81$ 19.22$ 28.21$ 12.90$ 1.75$ 35.13$ 44.59$ Passes Resource Iniital Economic Assessment? YES YES YES YES YES YES YES YES YES YES YES YES YES YES YES YES YES YES YES *Potentially recoverable tons are calculated by applying appropriate modifying factors to in-place resource tonnages **Sales realization represents estimated long range sales price. ***No initial capital required where resources are accessible from existing mines. ****Labor rates are driven based off of super section productivities assuming 250 to 300 feet per unit shift per section for underground mineable resources, and $2.50 per cubic yard for surface mineable resources. *****Processing assumed to occur at Marfork plant with the exception of Mt. Laurel resouces, which are assumed to be toll washed at another regional plant. ******Environmental costs assumed to include permiting, outfall maintenance, etc. AMR118 Marfork Initial Economic Assessment Resources Exclusive of Reserves 122123.xlsx Page 1 of 1 APPENDIX C MAPS

Seng Creek Area 3000' Scale In Feet 0 Data Point Location Map 1 Marfork Area Chilton Seam Alpha Metallurgical Resource, LLC Boone & Raleigh Counties, West Virginia Coordinate System: West Virginia South State Plane NAD 27 Controlled Underground Reserve / Resource as of 12/31/23 N Resource Exclusive of Reserve / Not Converted to Reserve Bethlehem Mines No. 113 Bethlehem Mines No. 114 & 115 Laurel Area 4000' Scale In Feet 0 Data Point Location Map 2 Marfork Area Hernshaw Seam Alpha Metallurgical Resource, LLC Boone, Raleigh & Kanawha Counties, West Virginia Coordinate System: West Virginia South State Plane NAD 27 Controlled Underground Reserve / Resource as of 12/31/23 Previous Underground Mining N Resource Inclusive of Reserve / Converted to Reserve

R 1" OF COAL CUT UP 80' Coon Area Ellis Area Black King Area Black King Area 1.5 Scale In Miles 0 Data Point Location Map 3 Marfork Area Upper Cedar Grove Seam Alpha Metallurgical Resource, LLC Boone & Raleigh Counties, West Virginia Coordinate System: West Virginia South State Plane NAD 27 Controlled Underground Reserve / Resource as of 12/31/23 Previous Underground Mining N Resource Exclusive of Reserve / Not Converted to Reserve Resource Inclusive of Reserve / Converted to Reserve TSH-14 BADTOP BADTOP XX XX X X X X X X X X X X X XX X X X XX XX X X X X X X XX XX XX X X X X XX X X X X X X BE LT N o. 2 BELT No.3 X X X X X X X X FALL X XX XX XX X X XX X BAD TOP AREA FALL X XX X X X X X X X X X X X X X XX X X X X X X X X X X 308° 47' 39" AZI. 308° 47' 39" AZI. $ $ $ $ $ $$ $ $ SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA 50 ft. Barrier 128° 52' 05" AZI. $ $ $$ $ $ 21 8° 5 0' 3 0" A ZI . BOTH SPLITS RAMPED UP TOP SPLIT ONLY 308° 48' 28.35" AZI. 308° 48' 28" AZI. 21 8° 4 8' 28 " A ZI . BM M AI NS AZI.308°48'28" Ra m pe d up To p s pli t o nly Bo th S pli ts XX X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X XX X X X X X XX X X X Laurel Alma Mine Titan Area Low Gap Area 6000' Scale In Feet 0 Data Point Location Map 4 Marfork Area Middle Cedar Grove Seam Alpha Metallurgical Resource, LLC Kanawha & Fayette Counties, West Virginia Coordinate System: West Virginia South State Plane NAD 27 Controlled Underground Reserve / Resource as of 12/31/23 Previous Underground Mining N Resource Exclusive of Reserve / Not Converted to Reserve Resource Inclusive of Reserve / Converted to Reserve

PILLARS MINED 7 MAD DOG MAINS D O O BE R M AI N S FALL FALL FALL HOOVE /FALL LAYERED SHALE Sealed Area of Kessler No. 4 BIG R FAULT FAULT FAULT FAULT Sealed Area of Kessler No. 4 Sealed Area of Kessler No. 4 (Not measured by Elk Run Coal Company) (Not measured by Elk Run Coal Company) (Not measured by Elk Run Coal Company) Berwind Area Black King I Area Black King I Mine 2 Scale In Miles 0 Data Point Location Map 5 Marfork Area Lower Cedar Grove Seam Alpha Metallurgical Resource, LLC Boone & Raleigh Counties, West Virginia Coordinate System: West Virginia South State Plane NAD 27 Controlled Underground Reserve / Resource as of 12/31/23 Previous Underground Mining N Resource Exclusive of Reserve / Not Converted to Reserve Resource Inclusive of Reserve / Converted to Reserve + + + + + + + + ROWLAND NO. 11 MINE Workman Area 10-B Area Beetree Area Slip Ridge Area 1 Scale In Miles 0 Data Point Location Map 6 Marfork Area Powellton Seam Alpha Metallurgical Resource, LLC Boone & Raleigh Counties, West Virginia Coordinate System: West Virginia South State Plane NAD 27 Controlled Underground Reserve / Resource as of 12/31/23 Previous Underground Mining N Resource Exclusive of Reserve / Not Converted to Reserve Resource Inclusive of Reserve / Converted to Reserve

2000 Scale In Feet 0 Data Point Location Map 7A Marfork Area Upper Eagle Seam Alpha Metallurgical Resource, LLC Raleigh & Fayette Counties, West Virginia Coordinate System: West Virginia South State Plane NAD 27 Controlled Underground Reserve / Resource as of 12/31/23 Previous Surface / Underground Mining N Resource Inclusive of Reserve / Converted to Reserve 2000 Scale In Feet 0 Data Point Location Map 7B Marfork - Laurel Creek Area Upper Eagle Seam Alpha Metallurgical Resource, LLC Raleigh & Fayette Counties, West Virginia Coordinate System: West Virginia South State Plane NAD 27 Controlled Underground Reserve / Resource as of 12/31/23 Previous Surface / Underground Mining Resource Exclusive of Reserve / Not Converted to Reserve

6000 Scale In Feet 0 Data Point Location Map 8 Marfork Area Eagle A Seam Alpha Metallurgical Resource, LLC Raleigh & Fayette Counties, West Virginia Coordinate System: West Virginia South State Plane NAD 27 Controlled Underground Reserve / Resource as of 12/31/23 Previous Surface / Underground Mining Resource Exclusive of Reserve / Not Converted to Reserve

4000' Scale In Feet 0 Data Point Location Map 10 Marfork Area Glen Alum Tunnel Seam Alpha Metallurgical Resource, LLC Raleigh County, West Virginia Coordinate System: West Virginia South State Plane NAD 27 Controlled Underground Reserve / Resource as of 12/31/23 Previous Underground Mining N Resource Exclusive of Reserve / Not Converted to Reserve Resource Inclusive of Reserve / Converted to Reserve Beckley Lick Run Bonny Mine Stanaford No. 1 Mine Skelton Mine Mountain Laurel Area Workman Area Beckley Mine 2 Scale In Miles 0 Data Point Location Map 11 Marfork Area Beckley Seam Alpha Metallurgical Resource, LLC Raleigh & Fayette Counties, West Virginia Coordinate System: West Virginia South State Plane NAD 27 Controlled Underground Reserve / Resource as of 12/31/23 Previous Underground Mining N Resource Exclusive of Reserve / Not Converted to Reserve Resource Inclusive of Reserve / Converted to Reserve

Mountain Laurel Area 3000' Scale In Feet 0 Data Point Location Map 12 Marfork Area Fire Creek Seam Alpha Metallurgical Resource, LLC Boone, Raleigh, Kanawha & Fayette Counties, West Virginia Coordinate System: West Virginia South State Plane NAD 27 Controlled Underground Reserve / Resource as of 12/31/23 Previous Underground Mining N Resource Exclusive of Reserve / Not Converted to Reserve Lower Winifrede and Above N Alpha Metallurgical Resources, LLC Map W-2 Marfork - Workman Raleigh County, Virginia Coordinate System: West Virginia South State Plane NAD 27 4000 Scale In Feet 0 Data Point Location Previous Surface Mining Resource Exclusive of Reserve Controlled Surface Resource Not Converted to Reserve as of 12/31/23

Upper Cilton A N Alpha Metallurgical Resources, LLC Map W-3 Marfork - Workman Raleigh County, Virginia Coordinate System: West Virginia South State Plane NAD 27 4000 Scale In Feet 0 Data Point Location Contour / Area Reserve Controlled Surface Resource Inclusive of Reserve / Converted to Reserve as of 12/31/23 Previous Surface / Underground Mining Upper Chilton Through Middle Chilton A N Alpha Metallurgical Resources, LLC Map W-4 Marfork - Workman Raleigh County, Virginia Coordinate System: West Virginia South State Plane NAD 27 4000 Scale In Feet 0 Data Point Location Contour / Area Reserve HWM Reserve - Chilton Rider Highwall Miner Not Shown Previous Surface / Underground Mining Controlled Surface Resource Inclusive of Reserve / Converted to Reserve as of 12/31/23

Middle Cedar Grove Through Lower Chilton N Alpha Metallurgical Resources, LLC Map W-5 Marfork - Workman Raleigh County, Virginia Coordinate System: West Virginia South State Plane NAD 27 5000 Scale In Feet 0 Data Point Location Contour / Area Reserve HWM Reserve - Lower Hernshaw Highwall Miner Not Shown Previous Surface / Underground Mining Controlled Surface Resource Inclusive of Reserve / Converted to Reserve as of 12/31/23 Peerless Upper Split and Lower Cedar Grove N Alpha Metallurgical Resources, LLC Map W-6 Marfork - Workman Raleigh County, Virginia Coordinate System: West Virginia South State Plane NAD 27 4000 Scale In Feet 0 Data Point Location Contour / Area Reserve Previous Surface / Underground Mining Controlled Surface Resource Inclusive of Reserve / Converted to Reserve as of 12/31/23

214' Lower 2 Gas through Peerless C N Alpha Metallurgical Resources, LLC Map W-7 Marfork - Workman Raleigh County, Virginia Coordinate System: West Virginia South State Plane NAD 27 4000 Scale In Feet 0 Data Point Location Contour / Area Reserve HWM Reserve Previous Surface / Underground Mining Controlled Surface Resource Inclusive of Reserve / Converted to Reserve as of 12/31/23 N Alpha Metallurgical Resources, LLC Map W-8 Marfork - Workman Powellton Raleigh County, Virginia Coordinate System: West Virginia South State Plane NAD 27 4000 Scale In Feet 0 Data Point Location Contour / Area Reserve HWM Reserve Previous Surface / Underground Mining Controlled Surface Resource Inclusive of Reserve / Converted to Reserve as of 12/31/24

Upper Eagle Rider 2 and Lower Powellton N Alpha Metallurgical Resources, LLC Map W-9 Marfork - Workman Raleigh County, Virginia Coordinate System: West Virginia South State Plane NAD 27 4000 Scale In Feet 0 Data Point Location Contour / Area Reserve Previous Surface Mining Controlled Surface Resource Inclusive of Reserve / Converted to Reserve as of 12/31/23 Upper Eagle and Upper Eagle Rider N Alpha Metallurgical Resources, LLC Map W-10 Marfork - Workman Raleigh County, Virginia Coordinate System: West Virginia South State Plane NAD 27 4000 Scale In Feet 0 Data Point Location Contour / Area Reserve HWM Reserve Previous Surface / Underground Mining Controlled Surface Resource Inclusive of Reserve / Converted to Reserve as of 12/31/23

Eagle Rider Eagle A N Alpha Metallurgical Resources, LLC Map W-11 Marfork - Workman Raleigh County, Virginia Coordinate System: West Virginia South State Plane NAD 27 4000 Scale In Feet 0 Data Point Location Contour / Area Reserve HWM Reserve Previous Surface / Underground Mining Controlled Surface Resource Inclusive of Reserve / Converted to Reserve as of 12/31/23 SEALED SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA SEALED AREA C=48" Eagle N Alpha Metallurgical Resources, LLC Map W-12 Marfork - Workman Raleigh County, Virginia Coordinate System: West Virginia South State Plane NAD 27 4000 Scale In Feet 0 Data Point Location Contour / Area Reserve HWM Reserve Previous Surface / Underground Mining Controlled Surface Resource Inclusive of Reserve / Converted to Reserve as of 12/31/23

Little Eagle N Alpha Metallurgical Resources, LLC Map W-13 Marfork - Workman Raleigh County, Virginia Coordinate System: West Virginia South State Plane NAD 27 4000 Scale In Feet 0 Data Point Location Contour / Area Reserve HWM Reserve Previous Surface / Underground Mining Controlled Surface Resource Inclusive of Reserve / Converted to Reserve as of 12/31/23

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Alpha Metallurgical Resources (AMR) 10-K2023 FY Annual report

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