AGM 2026

May 6, 2026

Ladies and gentlemen, welcome to the Alpha Metallurgical Resources 2026 Annual Meeting of Stockholders. Today's meeting is being conducted via live webcast. Thank you for joining us. I'm Michael Gorzynski, Chairman of our Board of Directors, joined by our Chief Executive Officer and Director, Andy Eidson. Also joining the meeting today are the other members of our Board of Directors, Joanna Baker de Neufville, Kenneth S. Courtis, Shelly Lombard, and Daniel D. Smith. I would also like to introduce other officers of Alpha joining us today. Dan Horn, Executive Vice President and Chief Commercial Officer. Mark Manno, Executive Vice President, General Counsel, and Secretary. Todd Munsey, Executive Vice President and Chief Financial Officer, and Jason Whitehead, President and Chief Operating Officer. The biographies of our directors and officers appear in the proxy statement that was sent to you in advance of this meeting. Also joining us today is Joe Blice of RSM US LLP, the company's independent auditor. He will be available to respond to questions at the conclusion of the meeting. With that, I now call our annual stockholders meeting to order. Mr. Manno will act as secretary of the meeting. I'll turn the meeting over to him now to confirm that we have complied with notice and quorum requirements and to conduct the business of the meeting. Thank you, Mike, and good morning, everyone. Before we proceed, please direct your attention to the agenda for the meeting, which should be visible on your screen. Please also note that the rules of the meeting, which are also available on the meeting web portal. On or about March 31st, 2026, notice of this meeting was sent to all stockholders of as of the record date, which was March 10, 2026. The record date was set by Alpha's board and determines which stockholders can vote at this meeting. As required by law, the company has kept a stockholder list on file and available for inspection for the past 10 days. Now let me introduce Victor Latessa of CT Hagberg & Associates, who is serving as the independent inspector of election for this meeting. He has taken the required oath of office. The inspector of election has indicated that of the 12,778,859 shares of the company's common stock outstanding and entitled to vote as of the record date, 83.45% of these shares are present or represented by proxy at today's meeting. Since the total represents at least a majority of the company's common stock outstanding as of the record date, a quorum is present, and the business of the meeting may proceed. I would now like to briefly describe our procedure for voting. If you voted via the internet or by phone or mailed a completed proxy card, you do not need to do anything further. Your vote will be recorded according to your previously provided instructions. Also, note that voting during the meeting will revoke any previous proxy you may have provided. We have 3 items of business to be voted upon today. 1, the election of 6 directors. 2, advisory approval of the company's 2025 executive compensation. 3, ratification of the audit committee selection of our independent auditor, RSM. These proposals are described in detail in the proxy statement provided to you, but I will describe each one briefly. The first item of business is the election of directors. The board nominated and recommended that you vote for 6 persons for election at this meeting to serve 1-year terms expiring at the 2027 annual meeting of stockholders, or until their successors are duly elected and qualified, or their earlier death, resignation, or removal. The nominees are Joanna Baker de Neufville, Kenneth S. Courtis, C. Andrew Eidson, Michael Gorzynski, Shelly Lombard, and Daniel D. Smith. The second item is an advisory vote regarding the 2025 compensation paid to the company's named executive officers, as described in the proxy statement. This item is commonly known as a say on pay proposal. The third item is an advisory vote ratifying the audit committee's appointment of RSM as Alpha's independent registered public accounting firm for the fiscal year ending December 31, 2026. Your board of directors has recommended that you vote for the election of each of the director nominees for the say on pay proposal and for the ratification of RSM as the company's auditor. The polls are now open. If you wish to register your vote through our virtual meeting system, please do so at this time. If you previously voted via the internet or by phone or mailed a completed proxy card, you do not need to do anything further. Your vote will be recorded according to your previously provided instructions. We will now pause briefly to allow any additional votes to be recorded. It is now 10:06 A.M. The polls are now closed. We will pause a few moments so our Inspector may confirm the vote totals. Ladies and gentlemen, our Inspector of Election has verified the vote totals. I will now ask Mr. Latessa to recite the preliminary results. Thank you, Mark. For proposal 1, concerning the election of directors, each of the 6 nominees has been elected. Proposal 2, an advisory vote on the 2025 compensation of Alpha's named executive officers received the affirmative vote of a majority of the shares of common stock present in person or by proxy and entitled to vote at this meeting, and therefore has been approved. Proposal 3, regarding the ratification of RSM as Alpha's independent registered public accounting firm for the fiscal year ending December 31, 2026, received the affirmative vote of a majority of the shares of common stock present in person or by proxy and entitled to vote at this meeting, and therefore has been approved. Thank you, Vic. The final report of the Inspector of Election will be filed with the minutes of this meeting. For complete details of the final voting results, please see the current report on Form 8-K that the company will file with the Securities and Exchange Commission within four business days after the date of this meeting. I will now turn the meeting back over to Mike. Thank you, Mark. We have now heard the results of the voting. This completes the official business of the meeting, and I now declare the meeting adjourned. We have time for a few questions, and I and the rest of the executive team are here to respond to them. As I mentioned earlier, representatives from RSM, the company's independent auditor, are also available to respond to questions. If you have a question, you can submit it through the Ask a Question box on the meeting web portal. We will pause for one moment to allow you to submit your questions. Mike, it looks like we have no questions. It looks like we don't have any questions today. Before we go, I want to remind you that our earnings call for the 1st quarter of 2026 will be held on Friday, May 8th at 10:00 A.M. Eastern time. Information about how to listen to the call is available on our website, alphametresources.com. Just choose Investors and then Events and Presentations. We hope you will join us. Thank you for your interest and continued support of Alpha. Have a great day. This concludes today's meeting. You may now disconnect.