Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary February 21, 2022 Prepared for: Warrior Met Coal, Inc. 16243 Highway 216 Brookwood, Alabama 35444 Prepared by: MARSHALL MILLER & ASSOCIATES, INC. 582 Industrial Park Road Bluefield, Virginia 24605 www.mma1.com

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 1 Statement of Use and Preparation This Technical Report Summary (TRS) was prepared for the sole use of Warrior Met Coal, Inc. (Warrior Met) 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 Warrior. The report provides a statement of coal resources and coal reserves for Warrior Met, as defined under the United States Securities and Exchange Commission (SEC). The statement is based on information provided by Warrior Met 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. MM&A hereby consents (i) to the use of the information contained in this report dated December 31, 2021, relating to estimates of coal resources and coal reserves controlled by Warrior Met ,(ii) to the use of MM&A’s name, any quotation from or summarization of this TRS in Warrior Met’s SEC filings, and (iii) to the filing of this TRS as an exhibit to Warrior Met’s SEC filings. This report was prepared by: MARSHALL MILLER & ASSOCIATES, INC.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 2 Table of Contents Title Page Statement of Use and Preparation Table of Contents 1 Executive Summary .....................................................................................................................8 1.1 Property Description ......................................................................................................8 1.2 Ownership ......................................................................................................................9 1.3 Geology ........................................................................................................................10 1.4 Exploration Status ........................................................................................................11 1.5 Operations and Development.......................................................................................11 1.6 Mineral Resource .........................................................................................................12 1.7 Mineral Reserve ...........................................................................................................12 1.8 Capital Summary ..........................................................................................................13 1.9 Operating Costs ............................................................................................................14 1.10 Economic Evaluation ....................................................................................................15 1.10.1 Cash Flow Analysis ..........................................................................................17 1.10.2 Sensitivity Analysis ..........................................................................................18 1.11 Permitting ....................................................................................................................18 1.12 Conclusion and Recommendations ...............................................................................18 2 Introduction ..............................................................................................................................19 2.1 Registrant, Terms of Reference, and Scope of Work .....................................................19 2.2 Information Sources .....................................................................................................19 2.3 Personal Inspections.....................................................................................................20 3 Property Description .................................................................................................................20 3.1 Location .......................................................................................................................20 3.2 Titles, Claims or Leases .................................................................................................21 3.3 Mineral Rights ..............................................................................................................21 3.4 Encumbrances ..............................................................................................................22 3.5 Other Risks ...................................................................................................................22 4 Accessibility, Climate, Local Resources, Infrastructure and Physiography ................................22 4.1 Topography, Elevation, and Vegetation ........................................................................22 4.2 Access and Transport ...................................................................................................23 4.3 Proximity to Population Centers ...................................................................................23 4.4 Climate and Length of Operating Season ......................................................................24 4.5 Infrastructure ...............................................................................................................24

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 3 5 History .......................................................................................................................................25 5.1 Previous Operation.......................................................................................................25 5.2 Previous Exploration.....................................................................................................25 6 Geological Setting, Mineralization and Deposit ........................................................................26 6.1 Regional, Local and Property Geology ..........................................................................26 6.2 Mineralization ..............................................................................................................28 6.3 Deposits .......................................................................................................................28 7 Exploration ................................................................................................................................30 7.1 Nature and Extent of Exploration .................................................................................30 7.1.1 Summary of Exploration Data .........................................................................30 7.2 Non-Drilling Procedures and Parameters ......................................................................33 7.3 Drilling Procedures .......................................................................................................33 7.4 Hydrogeology ...............................................................................................................33 7.4.1 Introduction....................................................................................................33 7.4.2 Summary of Hydrogeologic Findings ...............................................................34 7.5 Geotechnical Data ........................................................................................................35 8 Sample Preparation Analyses and Security ...............................................................................35 8.1 Prior to Sending to the Lab ...........................................................................................35 8.2 Lab Procedures .............................................................................................................36 9 Data Verification .......................................................................................................................36 9.1 Procedures of Qualified Person ....................................................................................36 9.2 Limitations ...................................................................................................................38 9.3 Opinion of Qualified Person .........................................................................................38 10 Mineral Processing and Metallurgical Testing ...........................................................................38 10.1 Testing Procedures .......................................................................................................38 10.1.1 M-Series Holes ................................................................................................38 10.1.2 NR5-Series Holes ............................................................................................39 10.1.3 S-Series Holes .................................................................................................39 10.2 Warrior Met’s Current Exploration Procedures.............................................................40 10.3 Quality Assessment ......................................................................................................40 10.4 Derivation of Product Yield ...........................................................................................41 10.5 Relationship of Tests to the Whole ...............................................................................43 10.6 Lab Information ............................................................................................................44 10.7 Relevant Results, Metallurgical Quality ........................................................................44 11 Mineral Resource Estimates ......................................................................................................45 11.1 Assumptions, Parameters and Methodology ................................................................45

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 4 11.1.1 Statistical Analysis for Classification ................................................................47 11.2 Qualified Person’s Estimates ........................................................................................48 11.3 Qualified Person’s Opinion ...........................................................................................49 12 Mineral Reserve Estimates ........................................................................................................49 12.1 Assumptions, Parameters and Methodology ................................................................49 12.2 Qualified Person’s Estimates ........................................................................................51 12.3 Qualified Person’s Opinion ...........................................................................................52 13 Mining Methods and Mine Plan Design ....................................................................................52 13.1 Geotechnical and Hydrologic Aspects of Mine Design ..................................................52 13.1.1 Horizontal Stress .............................................................................................52 13.1.2 Pillar Design ....................................................................................................52 13.1.3 Hydrogeology .................................................................................................53 13.2 Production Rates ..........................................................................................................53 13.3 Mining Related Requirements ......................................................................................53 13.4 Required Equipment and Personnel .............................................................................54 14 Processing and Recovery Methods ............................................................................................54 14.1 Description or Flowsheet ..............................................................................................54 15 Infrastructure ............................................................................................................................55 15.1 Mine Ventilation ..........................................................................................................55 15.2 Methane ......................................................................................................................55 15.3 Materials Handling .......................................................................................................56 15.4 Seam Access .................................................................................................................56 15.5 Surface Infrastructure ..................................................................................................56 15.5.1 Preparation Plant & Materials Handling Infrastructure ...................................56 15.5.2 Clean Coal Transportation...............................................................................57 15.5.3 Water Supply ..................................................................................................57 15.5.3.1 Potable Water ........................................................................................57 15.5.4 Power .............................................................................................................57 16 Market Studies ..........................................................................................................................58 16.1 Market Description.......................................................................................................58 16.2 Price Forecasts .............................................................................................................58 16.3 Contract Requirements ................................................................................................59 17 Environmental Studies, Permitting and Plans, and Social and Community Impacts .................59 17.1 Results of Studies .........................................................................................................59 17.2 Requirements and Plans for Waste Disposal .................................................................59 17.2.1 Disposal Methods and Design Concepts ..........................................................59

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 5 17.2.2 Life-of-Mine Storage Requirements ................................................................60 17.2.3 Storage Areas .................................................................................................60 17.2.4 Control of Proposed Storage Areas .................................................................60 17.2.5 Refuse Permitting ...........................................................................................61 17.3 Permit Requirements and Status ..................................................................................61 17.4 Local Plans, Negotiations or Agreements ......................................................................62 17.5 Mine Closure Plans .......................................................................................................63 17.6 Qualified Person’s Opinion ...........................................................................................63 18 Capital and Operating Costs ......................................................................................................63 18.1 Capital ..........................................................................................................................63 18.2 Operating Cost .............................................................................................................64 19 Economic Analysis .....................................................................................................................66 19.1 Assumptions, Parameters and Methods .......................................................................66 19.2 Results .........................................................................................................................67 19.3 Sensitivity .....................................................................................................................69 19.4 Economic Analysis Summary ........................................................................................70 20 Adjacent Properties...................................................................................................................70 20.1 Information used ..........................................................................................................70 21 Other Relevant Data and Information .......................................................................................70 22 Interpretation and Conclusions .................................................................................................71 22.1 Conclusion ....................................................................................................................71 22.2 Project Risk Assessment ...............................................................................................71 22.2.1 Assumptions and Limitations ..........................................................................72 22.2.2 Methodology ..................................................................................................72 22.2.3 Development of the Risk Matrix .....................................................................73 22.2.3.1 Quantification of Risk Likelihood and Severity of Impact ........................73 22.2.4 Categorization of Risk Levels and Color Code Convention ...............................75 22.2.5 Summary of Residual Risk Ratings ...................................................................75 22.2.6 Risk Factors .....................................................................................................76 22.2.6.1 Geological and Coal Resource.................................................................76 22.2.6.1 Environmental ........................................................................................77 22.2.6.2 Regulatory Requirements .......................................................................78 22.2.6.3 Market and Transportation ....................................................................78 22.2.6.4 Mining Plan ............................................................................................79 22.2.6.4.1 Methane Management .............................................................. 79 22.2.6.4.2 Mine Fires .................................................................................. 80

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 6 22.2.6.4.3 Availability of Supplies and Equipment ....................................... 81 22.2.6.4.4 Labor ......................................................................................... 81 22.2.6.4.5 Project Execution ....................................................................... 82 23 Recommendations ....................................................................................................................84 24 References.................................................................................................................................84 25 Reliance on Information Provided by Registrant ......................................................................84 FIGURES (IN REPORT) Figure 1-1: Blue Creek Project Location Map ........................................................................................ 9 Figure 1-2: Generalized Stratigraphic Column of Warrior Basin Sequence with Mary Lee Coal Zone Highlighted in red (after Pashin, 2005) ............................................................................ 10 Figure 1-3: Initial Investment Capital ($000) ....................................................................................... 14 Figure 1-4: OPEX ............................................................................................................................... 15 Figure 1-5: Blue Creek Production and Revenue ................................................................................ 16 Figure 1-6: After-tax Cash Flow Summary (000) ................................................................................. 17 Figure 1-7: Sensitivity of NPV ............................................................................................................ 18 Figure 6-1: Geologic Column of the Mary Lee – Blue Creek Sequence ................................................ 27 Figure 6-2: Generalized Geologic Profile Indicating Dominant Overburden Lithologies...................... 30 Figure 7-1: Drill Hole Location Map ................................................................................................... 32 Figure 15-1: Approximate Location of Plant and Various Infrastructure ............................................ 56 Figure 18-1: Initial Investment Capital ($000) ..................................................................................... 64 Figure 18-2: OPEX.............................................................................................................................. 65 Figure 19-1: Blue Creek Production and Revenue .............................................................................. 68 Figure 19-2: After-tax Cash Flow Summary (000) ............................................................................... 69 Figure 19-3: Sensitivity of NPV .......................................................................................................... 70 TABLES (IN REPORT) Table 1-1: Coal Resources Summary as of December 31, 2021 .......................................................... 12 Table 1-2: Coal Reserves Summary, Specific to Eastern Mining Areas A through D, (Marketable Sales Basis) as of December 31, 2021 ....................................................................................... 13 Table 1-3: Life-of-Mine Tonnage, P&L before Tax, and EBITDA .......................................................... 16 Table 10-1: Yield, Clean Ash and Sulfur (1.5 SG), Eastern Mining Areas A Through D .......................... 41 Table 10-2: Washability for the Mary Lee, Blue Creek, and Combined Seam (Excluding Middleman), Dry Basis, Eastern Mining Areas A Through D .................................................................. 42 Table 10-3: Washability for the Mary Lee, Blue Creek, and Combined Seam (Excluding Middleman), Dry Basis, After Yield and Ash Adjustment; Eastern Mining Areas A Through D................ 43 Table 10-4: Metallurgical Characteristics ............................................................................................ 45 Table 11-1: General Reserve and Resource Criteria ........................................................................... 46 Table 11-2: Statistical Breakdown ..................................................................................................... 48 Table 11-3: Coal Resources Summary as of December 31, 2021 ........................................................ 49

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 7 Table 12-1: Coal Reserves Summary, Specific to Eastern Mining Areas A through D, (Marketable Sales Basis) as of December 31, 2021 ....................................................................................... 51 Table 16-1: Adjusted Pricing .............................................................................................................. 58 Table 17-1: Currently Active Permits ................................................................................................. 62 Table 18-1: Estimated Coal Production Taxes and Sales Costs ........................................................... 65 Table 19-1: Life-of-Mine Tonnage, P&L before Tax, and EBITDA ........................................................ 67 Table 22-1: Probability Levels of Risks and Corresponding Values ..................................................... 73 Table 22-2: Consequence Level Table ................................................................................................. 74 Table 22-3: Risk Matrix ...................................................................................................................... 75 Table 22-4: Residual Risk Assessment Matrix .................................................................................... 76 Table 22-5: Geological and Coal Resource Risk Assessment (Risks 1 and 2) ....................................... 77 Table 22-6: Environmental (Risks 3 and 4) ......................................................................................... 78 Table 22-7: Regulatory Requirements (Risk 5) ................................................................................... 78 Table 22-8: Market (Risk 6) ............................................................................................................... 79 Table 22-9: Transportation (Risk 7).................................................................................................... 79 Table 22-10: Methane Management (Risk 8) ..................................................................................... 80 Table 22-11: Mine Fires (Risk 9)......................................................................................................... 80 Table 22-12: Availability of Supplies and Equipment (Risk 10) ........................................................... 81 Table 22-13: Labor – Work Stoppage (Risk 11) .................................................................................. 81 Table 22-14: Labor – Retirement (Risk 12) ......................................................................................... 82 Table 22-15: Construction Delays and Cost Overruns (Risk 13) .......................................................... 82 Table 22-16: Permitting Delays (Risk 14) ........................................................................................... 83 Table 22-17: Select, Isolated Parcels of Uncontrolled Mineral (non-BLM lease) within Mine Plan (Risk 15) ................................................................................................................................... 83 Table 22-18: Select, Isolated Parcels of Uncontrolled Mineral (BLM lease) within Mine Plan (Risk 16) ........................................................................................................................................ 83 Table 25-1: Information from Registrant Relied Upon by MM&A ...................................................... 85 Appendices A ...................................................................................................................................... Reserve Table B ................................................................................. Market Memorandum Provided by Warrior Met

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 8 1 Executive Summary 1.1 Property Description Warrior Met Coal, Inc. (Warrior Met) authorized Marshall Miller & Associates, Inc. (MM&A) to prepare this Technical Report Summary (TRS) of its controlled coal reserves, located at its Blue Creek (BC) property in northern Tuscaloosa County, Alabama (the Property). The report provides a statement of coal resources and coal reserves for Warrior Met, as defined under the United States Securities and Exchange Commission (SEC) standards. Coal resources and coal reserves are herein reported in metric units of measurement and are rounded to millions of tonnes (Mt). The property is located in northwestern Alabama, approximately 27 miles north of the city of Tuscaloosa and 36 miles west of the city of Birmingham in the southern region of the US. Highway 69 North bisects the property controlled by Warrior Met. Figure 1-1 displays the property’s location. Warrior Met currently controls approximately 17,000 total acres of mining rights associated with the Project (the Property), approximately 88 percent of which are leased from various entities and individuals. Based upon the current layout of the mine, the acquisition of additional leases will be required in the eastern and western portions of the Property, including leases from private entities and individuals, as well as a significant number of federally-owned tracts from the Bureau of Land Management (BLM). To mitigate risk associated with the BLM tracts, MM&A has assisted Warrior in developing a mine plan for the property which excludes the BLM tracts. This effort is being completed under separate cover and is not presented in the TRS, but it is important to note that financial modeling associated with this alternative mine plan showed favorable economics absent the BLM tracts, albeit at a reduced tonnage.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 9 Figure 1-1: Blue Creek Project Location Map 1.2 Ownership The Property was formerly controlled by Jim Walter Resources (Walter), the predecessor company of Warrior Met. Walter acquired the majority of its mineral rights for the Blue Creek property in 2010 through its purchase of the Chevron Mining, Inc. (Chevron)-owned coal assets located in Alabama. Warrior Met acquired mineral rights and mining operations from Walter in 2016, including two active operating longwall mines (Mine No. 4 and Mine No. 7), located south and southeast of the Project. Reserves and resources associated with these adjacent properties are not included in this report but are issued under separate cover. Figure 1-1 outlines the location of the Property in relation to Warrior’s adjacent properties.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 10 1.3 Geology Operations at the Blue Creek Mine Complex will extract the Mary Lee and Blue Creek coal beds by longwall mining methods. Strata of economic interest for this TRS belong to the Pennsylvanian-age Mary Lee Coal Group or Zone and the subject seams are the principal coal seams of interest within that formation for the present evaluation. Due to the high value of this coal, it has been extensively mined in the region. The Blue Creek Project is among the first in the region to target the higher volatile portion of the basin, with existing and former operations in the basin generally targeting the low and mid volatile coal zones. The seam is situated below drainage throughout the Property and will be accessed by mine shafts and/or slopes. Figure 1-2: Generalized Stratigraphic Column of Warrior Basin Sequence with Mary Lee Coal Zone Highlighted in red (after Pashin, 2005)

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 11 Warrior Met expects that market placement at BC will largely be based upon the Premium Low-Volatile Indices (PLV). Although the mine’s production will likely be associated with high-volatile parameters, it is anticipated that market placement will be comparable to Warrior’s active operations, which generally price according to the PLV. 1.4 Exploration Status Since as early as 1957, the Property has been extensively explored by means of: continuous coring and analytic testing, rotary drilling, ongoing drilling associated with coalbed methane (CBM) production, and by downhole geophysical logging methods. The majority of the data was acquired or generated by previous owners of the Property. These sources comprise the primary data used in the evaluation of the coal resources and coal reserves identified on the Property. MM&A examined the data available for the evaluation and incorporated all pertinent information into this TRS. Where data appeared to be anomalous or not representative, that data was excluded (or not honored) from the digital databases and subsequent processing by MM&A. Ongoing exploration has been carried out by Warrior Met since acquiring the Property, and Warrior Met’s recently acquired exploration data (through December 2021) has been consistent with past drilling activities. 1.5 Operations and Development Due to its coal reserve and seam characteristics, the Project will utilize longwall mining methods. The mine plan presented in this TRS utilizes a single longwall supported by continuous mining units. Warrior is considering an alternative mine plan which would increase tonnage via production from two longwall units. The mine will produce a coal that is suitable for export into the high volatile-A metallurgical coal markets. Run-of-mine coal will be transported to the surface via a slope. A service shaft and hoist will serve as the primary means of transportation of miners, supplies, and equipment to the coal mine. An additional fan (exhaust) shaft will be required for mine ventilation, and a third shaft (primary intake) will be required to support longwall production. Bleeder shafts will be installed in each longwall district. Run-of-mine coal will be processed in a new preparation plant with a capacity of 1,800 raw-tons-per- hour (1,633 raw tonnes-per-hour). Final plant design and equipment selection is still underway. MM&A’s assessment of coal quality information suggests that the operation will be capable of producing a 10-percent ash, sub-1-percent sulfur, high volatile-A coking coal. Clean coal production will be transported to a newly constructed barge loadout on the Black Warrior River via an overland conveyor. The development schedule set forth in this TRS allows for initial continuous miner development to start in year 2025, with longwall mining commencing in year 2027. At steady state, the mine will produce between 3 and 4 million tonnes (Mt) of coal annually and employ approximately 375 employees.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 12 1.6 Mineral Resource A coal resource estimate was prepared as of December 31, 2021, for the Blue Creek Project, summarized in Table 1-1. Resources presented in Table 1-1 include both resources inclusive of reserve and resources exclusive of reserve. Resources inclusive of reserve serve (See Areas A, B, C and D on detailed appendix tables) serve as the basis for the life-of-mine plan and cost model developed at the pre-feasibility level to support reserves which are stated in this report. Resources exclusive of reserve represent those coal tonnes on the western portion of the property which are not yet considered for reserve status (See “Area E” on detailed table in the Appendix). It is Warrior Met’s intention to elevate tonnage within Area E to be compliant with the 2021 SEC Standards in the future via an ongoing exploration drilling campaign. Resources represent in-place coal tonnages exclusive of the interburden, but inclusive of any high-ash partings within the Mary Lee and Blue Creek coal seams. As such, in-situ tonnages and quality as presented in Table 1-1 reflect the inclusion of high-ash partings which is ultimately removed after mining during coal preparation. Table 1-1: Coal Resources Summary as of December 31, 2021 Coal Resource (Dry Tonnes, In Situ, Mt) Resource Quality (Dry) Seam Measured Indicated Inferred Total Ash% Sulfur% VM% Inclusive of Reserves (East Area) Mary Lee 18.8 10.5 0.0 29.3 - - - Blue Creek 49.7 23.3 0.0 73.0 - - - Total 68.5 33.8 0.0 102.3 13.7 0.8 30 Exclusive of Reserves (West Area) Mary Lee 0.0 15.3 0.0 15.3 - - - Blue Creek 0.0 29.5 0.0 29.5 - - - Total 0.0 44.9 0.0 44.9 19.3 1.6 31 Grand Total 68.5 78.7 0.0 147.2 - - - Note 1: For the East area, Resource tonnes are inclusive of reserve tonnes since they include the in-situ tonnes from which recoverable coal reserves are derived. Note 2: For the West area, Resource tonnes are exclusive of reserve tonnes since they include the in-situ tonnes for which no recoverable reserve tonnes have been estimated. Note 3: Coal resources are reported on a dry basis, inclusive of high-ash partings which are ultimately removed during coal preparation. Surface moisture and inherent moisture are excluded. Note 4: Coal resource quality reported on a raw, weight-averaged basis 1.7 Mineral Reserve In eastern areas A through D, the resource estimate has been used as the basis for this reserve calculation, which utilizes a reasonable pre-feasibility level analysis, a life-of-mine (LOM) mine plan and practical recovery factors. Production modeling was completed with an effective start date of July 1, 2025. 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 complications; and insufficient exploration have all been considered. Reserve consideration excludes

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 13 those portions of the resource area which exhibit the aforementioned-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. Table 1-2: Coal Reserves Summary, Specific to Eastern Mining Areas A through D, (Marketable Sales Basis) as of December 31, 2021 Demonstrated Coal Reserves (Wet Tonnes, Washed or Direct Shipped, Mt) Quality (Dry Basis) By Reliability Category By Control Type Seam Proven Probable Total Owned Leased Option Ash% Sulfur% VM% Mary Lee 11.1 6.7 17.8 3.0 12.4 2.3 12.8 0.9 31 Blue Creek 30.4 15.1 45.5 7.7 32.8 5.0 8.4 0.6 32 Total 41.5 21.8 63.3 10.7 45.3 7.3 10.2 0.7 32 Note: Marketable reserve tonnes are reported on a moist basis, including a combination of surface and inherent moisture. The combination of surface and inherent moisture is modeled at 10-percent, comparable to Warrior Met’s current product moisture at its operating mines. Actual product moisture is dependent upon multiple geological factors, operational factors, and product contract specifications. In summary, the Project includes a total of 63.3 Mt (moist basis) of marketable coal reserves as of December 31, 2021. Of that total, 66 percent are proven, and 34 percent are probable. There are 10.7 Mt of owned coal reserves, 45.3 Mt of leased coal reserves and 7.3 Mt of reserve associated with lease options. All the reserves are considered suitable for the metallurgical coal market. 1.8 Capital Summary Warrior Met and MM&A have collaborated to develop a capital expenditure (CAPEX) forecast. MM&A assumes that major equipment rebuilds occur over the course of each machine’s operating life. All the equipment presented for use in the Project is standard well-proven equipment, used in numerous mines throughout the United States. No prototypes or experimental pieces of equipment are included. The initial investment, defined as the CAPEX from project inception through the first year of longwall production is summarized in Figure 1-3.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 14 Figure 1-3: Initial Investment Capital ($000) Note: Capital figures are based upon MM&A’s best estimates and are supported by a combination of MM&A’s experience in comparable projects & comparable quotations. Such level is sufficient to meet the criteria of a pre-feasibility level financial assessment. Beyond the Initial Investment of $623.7 million, CAPEX is necessary for sustaining production. This includes rebuilds and replacement of equipment, mine development and multiple bleeder, intake and return shafts. Based on a previous detailed study of a mine in the basin and a review of Warrior Met’s spending patterns, sustaining capital has been estimated at $9.50 per tonne. No efficiency or production increase projects have been included as they will be analyzed on a stand-alone basis when evaluated. To reflect typical spending patterns, based on production winding down, sustaining capital is reduced to 75% in 2051 and eliminated in 2052, the final year of production. 1.9 Operating Costs MM&A used a combination of historical information and detailed operating cost estimates from a recent study of a property in the region. Where necessary, operating costs were adjusted to reflect differences between this mine and the studied mine. Hourly labor rates and salaries were based upon regional information and expectations. Fringe-benefit costs were developed for vacation and holidays, federal and state unemployment insurance, retirement, workers’ compensation and pneumoconiosis, casualty and life insurance, healthcare, and bonuses. A cost factor for mine supplies was developed that relates expenditures to mine advance rates for roof-control costs. Other mine-supply costs are typically related to factors such as feet of section advance, ROM tonnes mined, and days worked. Other factors were developed for maintenance and repair costs, rentals, mine power, outside services and other direct mining costs.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 15 Operating costs factors were also developed for the coal preparation plant processing, refuse handling, coal loading, property taxes, and insurance and bonding. Appropriate royalty rates were assigned for production from leased coal lands, and sales related taxes were calculated for state severance taxes, the federal black lung excise tax, and federal and state reclamation fees. A summary of the operating costs for the Property is provided in Figure 1-4. Figure 1-4: OPEX *The LOM model and associated economic analysis is intended to prove the economic viability of the subject coal tonnage, allowing controlled tons to be classified as “reserve”. The development of costs incorporates a combination of Warrior Met’s historical performance and MM&A’s knowledge of mine productivity and cost structures for comparable operations. 1.10 Economic Evaluation The pre-feasibility financial model prepared for this TRS was developed to test the economic viability of the coal resource area. The results of this financial model are not intended to represent a bankable feasibility study, required for financing of any current or future mining operations contemplated for the Warrior Met property, but are intended to establish the economic viability of the estimated coal reserves. Cash flows are simulated on an annual basis based on projected production from the coal reserves. The discounted cash flow analysis presented herein is based on an effective date of January 1, 2022. On an un-levered basis, the NPV of the real cash flow after taxes represents the Enterprise Value of the Property. The cash flow, excluding debt service, is calculated by subtracting direct and indirect operating expenses and capital expenditures from revenue. Direct costs include labor, operating supplies, maintenance and repairs, facilities costs for materials handling, coal preparation, refuse

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 16 disposal, coal loading, reclamation, and general and administrative costs. Indirect costs include statutory and legally agreed upon fees related to direct extraction of the mineral. The indirect costs are the Federal black lung tax, Federal and State reclamation taxes, property taxes, coal production royalties, and income taxes. Table 1-3 shows LOM tonnage, P&L, and EBITDA for Blue Creek. Table 1-3: Life-of-Mine Tonnage, P&L before Tax, and EBITDA Tonnes (000) Pre-Tax P&L ($000) P&L per Tonne EBITDA ($000) EBITDA per Tonne Blue Creek 94,969 $8,527,427 $89.79 $9,962,324 $104.90 Note 1: The LOM model includes tonnages contained within adverse tracts which are not included in reserve estimates. Note 2: The LOM model does not consider resources exclusive of reserves on the western portion of the property. Note 3: The LOM model and associated economic analysis is intended to prove the economic viability of the subject coal tonnage, allowing controlled tons to be classified as “reserve”. The exercise should not be construed to represent a valuation of Warrior Met’s holdings. Long term cash flows incorporate forward looking market projections which are expected to vary over time based upon historic volatility of coal markets. The development of costs incorporates a combination of Warrior Met’s historical performance and MM&A’s knowledge of mine productivity and cost structures for comparable operations. As shown in Table 1-3, Blue Creek has positive EBITDA over the LOM. Overall, the operation shows positive LOM P&L and EBITDA of $8.5 billion and $10.0 billion, respectively. Warrior Met’s Blue Creek annual production and revenue are shown in Figure 1-5 and the Mine’s after- tax cash flow summary in constant dollars, excluding debt service, is shown in Figure 1-6 below. Figure 1-5: Blue Creek Production and Revenue Note 1: The LOM model includes a portion of tonnage contained within adverse tracts which are not included in reserve estimates. Note 2: The LOM model and associated economic analysis is intended to prove the economic viability of the subject coal tonnage, allowing controlled tons to be classified as “reserve”. The exercise should not be construed to represent a valuation of Warrior Met’s holdings. Long term cash flows incorporate forward looking market projections which are expected to vary over time based upon historic volatility of coal markets. The development of costs incorporates a combination of Warrior Met’s historical performance and MM&A’s knowledge of mine productivity and cost structures for comparable operations.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 17 Figure 1-6: After-tax Cash Flow Summary (000) Note 1: The LOM model includes a portion of tonnage contained within adverse tracts which are not included in reserve estimates. Note 2: The LOM model and associated economic analysis is intended to prove the economic viability of the subject coal tonnage, allowing controlled tons to be classified as “reserve”. The exercise should not be construed to represent a valuation of Warrior Met’s holdings. Long term cash flows incorporate forward looking market projections which are expected to vary over time based upon historic volatility of coal markets. The development of costs incorporates a combination of Warrior Met’s historical performance and MM&A’s knowledge of mine productivity and cost structures for comparable operations. Consolidated cash flows are driven by annual sales tonnage, which starts at 3.2 million tonnes in 2027, the first year of longwall production and averages 3.7 million tonnes per year from 2027 to 2051 the final full year of production. Projected consolidated revenue averages approximately $589.8 million per year during the period 2027 to 2051. Revenue totals $14.9 billion for the property’s life. Consolidated cash flow from the operation is positive throughout the projected operating period, with the exception of mine development years 2022 through 2026 and the post-production years, due to end-of-mine reclamation spending. Consolidated cash flow from the operation averages approximately $331.8 million per year from 2027 to 2051 and totals $8.3 billion over the mine life. Capital expenditures total $1.5 billion over the property’s life. 1.10.1 Cash Flow Analysis Cash flow after tax, but before debt service, generated over the life of the property was discounted to NPV at a 9% discount rate, which represents Warrior’s typical WACC. On an un-levered basis, the NPV of the property cash flows represents the Enterprise Value of the property and amounts to $1.6 billion. The pre-feasibility financial model prepared for the TRS was developed to test the economic viability of each coal resource area. The NPV estimate was made for purposes of confirming the economics for classification of coal reserves and not for purposes of valuing Warrior Met or its BC assets. The mine plan was not optimized, and actual results of the operation may be different, but in all cases, the mine production plan assumes the property is under competent management.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 18 1.10.2 Sensitivity Analysis Sensitivity of the NPV results to changes in the key drivers is presented in the chart below. The sensitivity study shows the NPV at the 9% discount rate when Base Case sales prices, operating costs, production, plant yield and capital costs are increased and decreased +/- 10%. A critical case combining Sales price and operating cost was also done reflecting the combined effect of plus 10% operating cost with -10% sales price to -10% operating cost and +10% sales price. Figure 1-7: Sensitivity of NPV 1.11 Permitting Permitting activities are well underway for execution of the Project. Critical permitting action items include the Mine Safety and Health Administration’s (MSHA) technical review of fine refuse impoundment design. Permitting associated with the barge loadout facility is anticipated to begin soon. The Project’s Surface Mine Control and Reclamation Act (SMCRA) permit is in place and will require a slight modification to account for revisions to surface facilities layouts. Warrior Met employs a staff of permitting experts who are continuing to oversee all activities pertaining to environmental and permitting aspects of the Project. 1.12 Conclusion and Recommendations Sufficient data have been obtained through various exploration and sampling programs to support the geological interpretations of seam structure and thickness for coal horizons situated on the subject.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 19 The data are of sufficient quantity and reliability to reasonably support the coal resource and coal reserve estimates in this TRS. The geological data and pre-feasibility study, which consider mining plans, revenue, and operating and capital cost estimates are sufficient to support the classification of coal reserves provided herein. As of the writing of this report, Warrior Met is currently conducting core drilling on the Property, and a sustained program of continued exploration is recommended, as well as acquisition of additional geophysical data available from the State Oil & Gas Board of Alabama. Continued evaluation of the preferred slope location and azimuth is also recommended to minimize potential geotechnical and hydrogeological encumbrances related to faulting. This geologic evaluation conducted in conjunction with the preliminary feasibility study concludes that the 63.3 Mt of marketable underground coal reserves identified on the Property are economically mineable under reasonable expectations of future market prices for metallurgical coal products, estimated operation costs, and capital expenditures. 2 Introduction 2.1 Registrant, Terms of Reference, and Scope of Work This report was prepared for the sole use of Warrior Met Coal, Inc. and its affiliated and subsidiary companies and advisors. The report provides a statement of coal resources and coal reserves for Warrior Met, as defined under the United States Securities and Exchange Commission (SEC) standards. The report provides a statement of coal reserves for Warrior Met. Exploration results and resource calculations were used as the basis for the mine planning and the preliminary feasibility study completed to determine the extent and viability of the reserve. Coal resources and coal reserves are herein reported in metric units of measurement and are rounded to millions of metric tonnes (Mt). 2.2 Information Sources The technical report is based on information provided by Warrior Met and reviewed by MM&A’s professionals, including geologists, mining engineers, civil engineers, and environmental scientists. MM&A’s professionals hold professional registrations and memberships which qualify them as Qualified Persons in accordance with SEC guidelines. Warrior Met engaged MM&A to conduct a coal reserve evaluation of the BC coal property as of December 31, 2021. For the evaluation, the following tasks were to be completed:

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 20 > Process the information supporting the estimation of coal resources and reserves into geological models; > Develop life-of-reserve mine (LOM) plans and a financial model; > Hold discussions with Warrior Met company management; and > Prepare and issue a Technical Report Summary providing a statement of coal reserves which would include: - A description of the mines and facilities. - A description of the evaluation process. - An estimation of coal resources and reserves with compliance elements as stated under the new SEC Guidelines which will become effective for the first fiscal year commencing on or after January 1, 2022. 2.3 Personal Inspections MM&A is very familiar with the Blue Creek property, having provided a variety of services since 1991 (including geophysical logging) to the present, and a QP involved in this TRS has conducted multiple site visits to the property. 3 Property Description 3.1 Location The Project is located in Tuscaloosa County, in northwestern Alabama, approximately 27 miles north of the city of Tuscaloosa and 36 miles west of the city of Birmingham in the southern region of the US. Highway 69 North bisects the Property. Figure 1-1 displays the Project’s location. The BC Property is adjoined by two nearby longwall mining operations that have extracted coal from the same Mary Lee and Blue Creek seams: > Shoal Creek on the east > Mine No. 4 on the south BC reserves and resources are located in two principal areas and five (5) blocks or areas: > Eastern Resource (Inclusive of Reserve) & Associated Reserve: - Area A - Area B - Area C

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 21 - Area D > Western Resource (Exclusive of Reserve), No Corresponding Reserve - Area E 3.2 Titles, Claims or Leases MM&A has not carried out a separate title verification for the coal property and has not verified leases, deeds, surveys or other property control instruments pertinent to the subject resources. Warrior Met has represented to MM&A that it controls the mining rights to the reserves as shown on its property maps, and MM&A has accepted these as being a true and accurate depiction of the mineral rights controlled by Warrior Met. 3.3 Mineral Rights Warrior Met, through its predecessor Walter, acquired the majority of its mineral rights for the Blue Creek property in 2010 through its purchase of the Chevron-owned coal assets located in Alabama. At the time of purchase, this acquisition included the North River longwall mine operating in the Pratt seam (which has since been divested). Since this acquisition, Warrior Met has strategically purchased and leased mineral and surface rights (and other tracts with options to lease) to further assemble the Project. Currently, Warrior Met has mineral rights on over 17,000 acres associated with the resource and the vast majority of surface rights needed for the planned facilities. Some additional coal leases are required to fully assemble the Property; however, with the exception of the Federal Bureau of Land Management (BLM), there does not appear to be notable risk to obtaining additional leases in a time frame consistent with the proposed project schedule. To mitigate risk associated with the BLM tracts, MM&A has assisted Warrior in developing a mine plan for the property which excludes the BLM tracts. This effort is being completed under separate cover and is not presented in the TRS, but it is important to note that financial modeling associated with this alternative mine plan showed favorable economics absent the BLM tracts, albeit at a reduced tonnage. It is of important note that tracts categorized as “owned” represent those in which Warrior Met owns a percentage of tract’s mineral rights. In addition to Warrior Met, other parties and entities own various portions of the “owned” tracts mineral rights. Additionally, the “leased” category includes those tracts in which Warrior Met leases a percentage of the tract’s mineral rights. By assignment, as part of the Study, MM&A has not completed a review of the major leases. Due to confidentiality, only general facts related to the major leases are noted. The majority of the coal leases have an identical initial term of 20 years from the date of execution with an additional 20-year lease term extension. A portion of the coal leases have 10-year term extensions. Certain leases have performance terms related to mining execution.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 22 The leases can be extended so long as mining operations are being conducted on the leased premises. The leases are then held by a series of earned production royalty payments. The annual minimum royalty is reduced by the amount of earned production royalty paid on mined coal. All annual minimum royalty payments are recoupable against any earned royalty due under the coal leases on a lease-by- lease basis. The royalty rates for the BC project are estimated to be 8.0% of the sales revenue FOB the mine after deduction of all transportation and loading costs between the mine and the vessel. By assignment, MM&A has not independently verified property boundaries specific to each lease; however, MM&A has reviewed Warrior Met-supplied boundary mapping. 3.4 Encumbrances No Title Encumbrances are known. By assignment, MM&A has not completed query related to Title Encumbrances. 3.5 Other Risks There is always risk involved in property control. Warrior Met has had their legal teams examine the deeds and title control in order to minimize the risk. Historically, property control has not posed any challenges related to Warrior Met’s operations. A significant portion of uncontrolled tracts which must be obtained by Warrior Met in order to execute the mine plan presented herein are owned by the Federal Government’s Bureau of Land Management (BLM). Regionally, operators (including Warrior Met’s predecessors) have experienced a successful track record of obtaining mining rights to BLM properties. 4 Accessibility, Climate, Local Resources, Infrastructure and Physiography 4.1 Topography, Elevation, and Vegetation The Property is located in the physiographic region of northern Alabama within the Black Warrior (BWB) Basin region of the US. The area is rugged upland of moderate topography with more than 200 feet of relief adjacent to major streams. The area is dissected by streams that flow to the southeast and eventually to the Black Warrior River. A major drainage within the Property is Big Yellow Creek and its two tributaries, Little Yellow Creek and Four Mile Creek. The upland topographic features are controlled by lithology, with large flat surfaces formed by underlying sandstone with steeper slopes formed by weathered shale and siltstones. Maximum relief within the Property is approximately 460 feet with elevation ranging from 260 feet above mean sea level (MSL) along banks of the Big Yellow River to 720 feet along the top of the flat ridges.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 23 4.2 Access and Transport General access to the Project complex is very good via State Route 69 which traverses the central portion of the Property from southwest to northeast. State Route 69 is a well maintained, paved, two- lane road with Interstate access in close proximity to both the north and south. SR-69 directly intersects Interstates 59 and 20 approximately 30 miles to the south at Tuscaloosa and intersects Interstate 22 about 23 miles to the north (with Birmingham about 40 miles to the east). Direct access to the preparation and coal handling facilities, as well as the supply yard at the mine slope is off of County Route 46 (Brandon School Road) which runs southeast to northwest through the Property from State Route 69. Brandon School Road is also a paved two-lane road, and these facilities lie within about 2.5 miles of the intersection with SR-69. The deep mine’s portal and shaft facilities lie along an unimproved road approximately one-quarter mile off of SR-69. All of the initial facilities are in close proximity to high quality, public roads and lie within 3 miles of each other. A multitude of coalbed methane (CBM) and gas well roads bisect the Property providing exceptional surface access to areas overlying the mineral boundaries. The closest rail transport for the proposed mine site is a rail line located approximately 8 miles to the northwest at the intersection of Brandon School Road and County Route 30 near the town of Berry. River transport with barge loadout facilities is available approximately 10 miles to the southeast of the proposed plant facilities on the Black Warrior River. In order to access additional coal markets, a new unit train rail loadout is also being considered. With the aforementioned rail access being at Berry, options are being considered to either bring rail to the preparation plant for on-site train loading or to install an overland conveyor to the existing rail for off- site train loading. The rail project has not been considered in the economic analysis presented in this TRS. It is anticipated that coal will be shipped into the seaborne metallurgical markets. As part of a commercial real estate transaction with Alabama State Port Authority in 2014, Warrior Met secured expansion capacity of the McDuffie Terminal to accommodate planned production. 4.3 Proximity to Population Centers The Property lies in close proximity to two large population centers. The city of Tuscaloosa lies approximately 27 miles south and Birmingham lies about 36 miles east of the proposed mine site. The Tuscaloosa and Birmingham metropolitan areas have populations of approximately 250 thousand and 1.2 million respectively (as of July 2018). Both areas have large industrial and manufacturing bases with employers such as Honda, Michelin and Mercedes-Benz having production facilities in the area. The city of Birmingham is home to the Birmingham-Shuttlesworth International Airport which handles close to 3-million passengers annually.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 24 4.4 Climate and Length of Operating Season The typical climate in this portion of Alabama is rather humid but temperate. The average annual temperature is 66 degrees Fahrenheit. Climate is hot during the summer when temperatures are typically in the 90-degree Fahrenheit range and cool during the winter when temperatures are typically in the upper 40-degree Fahrenheit range. The warmest month is generally July, and the coldest month is generally January. Alabama receives on average 56 inches of rainfall per year. The area is somewhat prone to severe thunderstorms resulting in occasional tornado activity and the inland effects of seasonal hurricanes. Seasonal variations in climate typically do not affect underground mining in the area, however, weather events could potentially impact the efficiency of surface and preparation plant operations on a very limited basis. 4.5 Infrastructure Infrastructure in the area surrounding the Blue Creek site is very diverse, well established and robust due to the large populations and current industrial activity in the surrounding metropolitan areas of Birmingham and Tuscaloosa. All of the primary infrastructure that the mine will need to operate (power, water, transportation/roads) is available with reasonable access requirements. Below is a list of the regional infrastructure near the proposed Blue Creek operation: Electrical Power The immediate area contains numerous coal-fired power plants producing base-load electricity. Major transmission and distribution lines are located within the area of interest. Alabama Power is the local utility which will provide electricity for the Project. Water and Sewer Public water is available locally through Oakman Water Works, Inc. No public sewer systems are available. Roads The area is serviced by an extensive network of well-maintained, federal, state and county highways in close proximity to the proposed mine site. Railroads A major commercial railroad is located along the western edge of the area of interest. Barge The Black Warrior River, located east of the Property, provides a means of barge transportation. Airports Birmingham-Shuttlesworth International Airport is located approximately 40 miles to the east. Mining Service Providers, Equipment Manufacturers and Supply Companies The Property is well serviced by major mining equipment manufacturers, rebuild facilities, and mine supply vendors. Specialized mining service providers including slope, shaft, and preparation plant construction companies are located in the immediate area.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 25 Hospitals – Ambulance, Med Flights There are numerous fully functioning hospitals (including major trauma centers) within a 50-mile radius of the area of interest. The area is serviced by a network of public and private ambulance and helicopter medical flight providers. Emergency Services – Fire, Police There are numerous fire departments and emergency medical service (EMS) providers within a 50-mile radius of the proposed mine site. The area is well serviced by a large network of federal, state and local law enforcement agencies with central dispatch and communications systems, including emergency 911 services. Schools The region has a well-developed public education network consisting of federal, state and local government-backed schools as well as privately funded schools. These include elementary, middle, and high schools, as well as technical and vocational schools. College/University The region contains numerous colleges and universities as well as well- established mining universities and training centers. Namely, the University of Alabama is located in the city of Tuscaloosa and offers scientific and engineering degrees. 5 History 5.1 Previous Operation The Property has gone through multiple ownership changes throughout its history. Prior to Warrior Met, the Property was controlled by Walter, which acquired the rights to the Property in 2010 through purchase from Chevron. Exploration and development efforts have been ongoing throughout the tenures of various owners. Although this particular project site has no operational history of its own, the region in general has a long, successful history of mining similar projects. There are currently four operating underground longwall operations mining the Mary Lee and Blue Creek seams on adjacent properties. Warrior Met operates two of the four mines, one of which utilizes two independent longwalls for coal production. 5.2 Previous Exploration The Property has been extensively explored as early as 1957 by subsurface drilling efforts carried out by numerous entities, most of which were completed prior to acquisition by Warrior Met including: Tennessee Coal, Iron & Railroad Company; U.S. Steel; The Pittsburgh & Midway (P&M) Coal Mining Company/Chevron; and Walter. The majority of the drilling was accomplished by means of conventional core hole exploration and air rotary drilling with geophysical logging for CBM wells.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 26 6 Geological Setting, Mineralization and Deposit 6.1 Regional, Local and Property Geology The Black Warrior coal basin (BWB), which encompasses the subject Property, is a foreland basin covering approximately 23,000 square miles (59,570 square kilometers) of northwestern and central Alabama. The basin extends approximately 230 miles from west to east and 188 miles from north to south. The BWB lies within the Cumberland Plateau portion of the Appalachian Highlands and contains Pennsylvanian System (300 million years) sedimentary coal-bearing strata of the Upper Pottsville Formation. Metallurgical coal deposits in northern Alabama are divided into three coal fields; the Black Warrior, the Cahaba, and the Coosa, of which the Black Warrior is the largest in both size and productivity. Of the coal groups within the BWB, historically the most dominant is the Mary Lee group (see Figure 6- 1). This sequence is “tagged” or identified with a 4-digit numeric system that generally includes the following strata (in descending stratigraphic order): > 7200 / 7300 – New Castle (typically present as Upper and Lower benches), 30 to 50 feet above the Mary Lee seam > 7400 – Mary Lee seam > 7450 – Middleman (rock parting) > 7480 – Rider seam (not always present) – included as part of the Middleman > 7490 – Parting between the Rider and Blue Creek seams (not always present) – included as part of the Middleman > 7500 – Blue Creek seam > 7600 – Jagger seam, where present, typically a few feet to tens of feet below the Blue Creek; however, may locally become part of the mineable section with the overlying Blue Creek seam.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 27 Figure 6-1: Geologic Column of the Mary Lee – Blue Creek Sequence The BWB is bound by the Alabama Valley and Ridge, Highland Rim, and East Gulf Coastal Plain physiographic providences. The southwestern and southeastern margins of the basin are terminated by frontal thrust faulting of the Ouachita and Appalachian orogeny. The basin has regionally southwestward dipping strata that are overlain by Cretaceous and Tertiary age deposits. The major structural feature within the basin is the Sequatachie anticline, which trends northeast to southwest between the Arkadelphia and Coalburg synclines. Structurally, coal horizons are typically characterized as gently dipping to the southwest and contain minor folds. However, the regional trend

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 28 has locally been significantly modified by the presence of a prominent structural feature referred to as the Wiley Dome (with relief of several hundreds of feet), which is present on the Blue Creek property, between the east and west areas of the mine plan. A smaller scale fold referred to as the Whitson anticline is present north of the Wiley dome. Faulting is widespread across the basin with high-angle, scissor-type normal faults and fault grabens common, which are typically oriented in a southeast to northwest alignment. Vertical displacement typically varies from only a few feet to as much as 350 feet. Multiple published and in-house reports have been compiled and examined during the course of this evaluation, and subsequently compared with the data shown on the base-of-seam structure for the Blue Creek seam. While faulting on the subject property generally reflects the same regional southeast to northwest pattern, a zone of inferred low-angle faulting (originally identified from a US Steel 1983 report) has been identified on the Property, nearly perpendicular to the regional fault orientation. The dip of this low-angle fault zone has been estimated at approximately 30 to 35 degrees, in contrast to the nearly vertical faults identified elsewhere in the basin. Prior studies as well as recent exploration on the Property have identified locations where the subject coal beds are locally faulted and replaced by fault gouge. The orientation of the low-angle fault zone is northeast-to-southwest and is located on the north side of the Wiley Dome; mine areas A and B are separated by this fault zone. 6.2 Mineralization Regional coal rank in the BWB generally ranges from a low-volatile coal in the southeastern portion of the basin to a high-volatile coal to the northwest. Due to the value of the Mary Lee and Blue Creek seams in the low- to medium-volatile coking coal market at its active Mine No. 4 and Mine No. 7 operations (and adjoining mines) to the south and east of the Property, the subject coal seams have been extensively mined in the region. Laboratory data for the Blue Creek Project indicates a typically high volatile (greater than 31% volatile matter) bituminous coal product. Based on analysis of coal samples, the Mary Lee and Blue Creek seams on the Property is considered a high-volatile metallurgical- grade coal product. 6.3 Deposits Sediments of the Upper Pottsville Mary Lee coal zone are Lower Pennsylvanian in age and comprised of cyclic sequences (refer to Figures 1-2 above and 6-2 below) including: sandstone, siltstone/sandy shale, shale (and occasional marine shale zones), and coal. Located within the middle of the Black Warrior Basin stratigraphic sequence, the Mary Lee and Blue Creek horizon is situated below drainage throughout the Property and is accessible by slope and shafts. General lithologic characteristics of the are described below: > The New Castle seam is present approximately 15 to 50 feet above the Mary Lee seam.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 29 > Lithologic composition of the roof strata varies throughout the Property, consisting primarily of a coarsening-upward sequence of shale or sandy shale, with occasional sandstone channels located within the immediate or main roof of the Mary Lee seam. > Although rare, areas where sandstone occupies the immediate roof of the Mary Lee seam have been observed from drilling records, where scouring of the seam may occur locally. Where sandstone channels are present within 4 to 6 feet above the Mary Lee (roof bolt horizon), there is potential for increased drawrock conditions and roof instability beneath the sandstone/shale contact. > The Mary Lee typically averages 1.75 feet within the eastern mine plan area of the Property; and 1.25 feet in the western area. The Mary Lee seam is the lithologically more consistent of the two seams in terms of thickness, however it generally thins to the west in Area E. Areas where the Mary Lee seam is absent are inferred to more often be associated with structurally faulted horizons than to depositional factors. > The composition of the stratum comprising the Middleman is highly variable and consists of shale, carbonaceous shale, or fireclay, to sandy shale; from a few inches to over 3.0 feet, averaging 1.0 feet to 1.5 feet in thickness. > The Blue Creek seam, which represents the better metallurgical quality of the two seams, and typically averages 4.35 feet within the eastern mine plan area of the Property; and 2.65 feet in the western area. The Blue Creek seam is subject to more erratic and abrupt thickness variation than the overlying Mary Lee seam. Reasons for this are not entirely clear but may be the result of: seam splitting; channel incision; differential compaction; presence of contemporaneous (“growth”) faults; or other paleographic factors present during or subsequent to deposition of the Blue Creek paleoswamp. The Blue Creek is typically thicker in the eastern portions of the Property and thins or splits to the west. > The combined thickness of the Mary Lee –typically averages 7.0 feet within the eastern mine plan area of the Property; and 5.0 feet in the western area. Areas within mine plan projections where the combined thickness of the Mary Lee – Blue Creek horizon are less than a minimum cutting height are generally rare, and where this occurs, roof (and/or floor) strata are expected to be excavated as out-of-seam dilution (OSD). > Compositional variability and thickness of the floor strata underlying the Blue Creek seam typically occurs within a coarsening-downward sequence varying from: very soft, thick fireclay within the immediate floor, to sandy fireclay, shale, sandy shale, and finally sandstone within the first three feet below the seam. Fireclay varies in thickness, from less than a foot to more than 10 feet. Due to inherently high clay content, this stratum is typically moisture-sensitive and may degrade when exposed to water accumulation on the mine floor.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 30 Figure 6-2: Generalized Geologic Profile Indicating Dominant Overburden Lithologies 7 Exploration 7.1 Nature and Extent of Exploration Exploration information has largely been collected, analyzed, and summarized by personnel from previous owners of the Property, Warrior Met, and their consultants. Vertical drilling has been the sole method of collecting exploration information since the seam does not outcrop within or near the Property, and there has been no mining on the Property. Spacing and quantity of exploratory drill holes is generally sufficient to define the coal resource within the Property. Initial exploration on the Project was entirely by drilling to collect data for delineation of coal and CBM resources. As a general practice, continuous core hole exploration is physically logged by a professional geologist while CBM holes are geophysically logged. Geophysical information from CBM wells was obtained by Warrior Met’s predecessor from the Geological Survey of Alabama Oil and Gas Board (GSA) and used to determine seam thickness and elevation. 7.1.1 Summary of Exploration Data MM&A was provided with the core hole records or summary information from geophysical logs as summarized below. Furthermore, during the course of this evaluation, MM&A was provided with additional CBM well digital files (scanned TIFF and LAS formats) from the GSA which were not in the original Warrior Met lithologic database; these were subsequently interpreted and added to the database.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 31 > Total number of holes: 1,250 drill holes utilized for mapping purposes > Total footage: 1,892,000 feet > Hole depths: ranging from 835 feet to 2,275 feet, averaging 1,525 feet. > Depth to top of Mary Lee seam: ranging from 810 feet to 1,615 feet, averaging 1,255 feet > A small group of drilling records was identified and categorized as “not honored” for various reasons, and as such were ignored for mapping purposes. Additional discussion is provided below in Section 9.1. Much of the coal quality information provided to MM&A consisted of previously summarized data in the form of Microsoft® Excel spreadsheets in an Adobe® PDF (PDF) format. Where available, scanned copies of coal quality sheets and summary reports were also provided. The most recent drill hole quality data (2021) were derived from exploration activity in the western portion of the Property. Bulk sample analyses obtained from adjacent mines were made available as was one bulk sample from two combined drill holes from which multiple wedged samples were obtained. Extensive exploration in the form of subsurface drilling has been carried out on the Property by numerous entities, most of whose efforts were completed prior to acquisition by Warrior Met. Diamond core, rotary, and CBM drilling are the three primary types of exploration on the Property. Data for correlation and mining conditions are derived from core descriptions and geophysical logging (e-logging). The location of the drilling is shown on the maps included within this report. The concentration of exploration varies across the Property, with the proposed underground mining areas having the highest concentration of drill holes. Drilling on the Property is typically sufficient for delineation of potential underground mineable benches. The M-series and S-series core holes were typically logged by professional geologists, while the remaining core hole data comes from simplified driller’s logs, which often lack specific details regarding geotechnical conditions and specific geology, making correlations and floor and roof conditions difficult to determine. Geophysical logging (e- logging) techniques, by contrast, document specific details useful for geologic interpretation and mining conditions. Mapping of future mining conditions is derived from data-compiled from a variety of past and present exploration programs, but projections and assumptions can be made within a reasonable degree of certainty. Due to the long history of exploration by various parties on the Property, a wide variety of survey techniques exist for documentation of data point locations. Many of the older exploration drill holes appear to have been located by survey. However, some holes appear to have been approximately located using USGS topography maps or other methods which are less accurate. Therefore, discretion had to be used regarding the accuracy for the location and ground surface elevation of some of these older drill holes. In instances where a drill hole location (or associated coal seam elevations) appeared to be inconsistent with the overall structural trend (or surface topography for surface-mineable areas), the data point was not honored for geological modeling. Others with apparently minor variances were

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 32 adjusted and then used by MM&A. Moreover, MM&A compiled topographic map files from the USDA website, using 1-meter resolution LIDAR Digital Elevation Models (DEM’s). Locations of all drill holes on the Property are shown on Figure 7-1 below. Figure 7-1: Drill Hole Location Map

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 33 7.2 Non-Drilling Procedures and Parameters Aside from exploration-based drilling and drilling associated with gas development, no additional information specific to the subject reserve’s thickness and quality characteristics is available. The coal reserve is approximately 1,200 to 1,300 feet below drainage across the Property, eliminating the potential of any outcrop examination. Information from mines on adjacent properties does provide some indication regarding anticipated structural trends and thickness continuity. Such parameters have been considered by MM&A in this TRS. 7.3 Drilling Procedures Core drilling methods utilize NX-size (21/8 inch) or similar-sized core cylinders to recover core samples, which can be used to delineate geologic characteristics, and for coal quality testing. In addition to the core holes, rotary drilled holes also exist on most of the Property. Data for the rotary drilled holes are mainly derived from downhole geophysical logs, which are used to interpret coal and rock thickness and depth since logging of the drill cuttings is not reliable. CBM holes are always logged geophysically, and the resulting interpreted data are incorporated into the geological model. Exploratory drilling generally requires drilling to depths from 800 to 1,600 feet to penetrate the target coal seams on the Property. A wide variety of core-logging techniques have been implemented on the Property. For many of the core holes, the primary data source is a generalized lithology description by the driller, while others were logged by a professional geologist. These drilling logs were provided to MM&A as a geological database. MM&A geologists were not involved in the production of original core logs but did perform a basic check of information within the provided database. 7.4 Hydrogeology 7.4.1 Introduction The hydrogeologic aspects of the project area have been assessed based on previous hydrogeologic study specific to the area, permitting documents, geologic logging records, and experience from other mines in the region. The assessment focuses on the potential for groundwater inflow to the proposed mine. As the majority of available geologic and hydrogeologic information is contained in Areas A, B, C and D, the current hydrogeological summary is most relevant to these areas but may also be applicable to Area E. Water quality data associated with the Mary Lee and Blue Creek coal horizons in the project area is not available. As such, water quality expectations specific to groundwater inflow to the mine have not been addressed. In general, the results of the current evaluation suggest that the quantity of groundwater inflow to the proposed mine is not likely to cause significant concern in most areas. Previous hydrogeologic assessment of the subject area and regional experience identifies that larger and persistent fracture

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 34 zones, often those with high angle or vertical faults and fractures, have the greatest potential to convey larger volumes of water into the mine, especially in areas affected by longwall mining subsidence. While there are numerous larger faults and fracture zones identified in the project area, the current mine plan significantly avoids major areas of hydrogeologic concern identified via previous hydrogeologic assessment of the Project. 7.4.2 Summary of Hydrogeologic Findings In general, the proposed mining is not expected to experience mine-wide, extensive water inflow issues, and in fact, most of the mine may be expected to be relatively dry. However, zones of significant faulting and fracturing do exist in the project area, and experiences in other mines in the region do suggest that the potential for significant water inflow via faults and fracture zones coupled with longwall mining-induced fractures does exist, especially where there is potential for interaction with surface water features. The current mine plan layout avoids the majority of potentially problematic areas, as designated by a previous assessment by others. The available hydrogeologic information for the project area indicates that significant water inflow to the mine is more likely to be associated with areas where longwall mining approaches areas of natural faulting and fracturing. In addition, water inflows in such areas are likely to be enhanced by proximity and connection of the combination of longwall mining-induced fractures and natural fractures to surface water bodies that may recharge water into the system. As a result, future drilling activity (core drilling or rotary bit) should include collection of fracture orientation and fracture frequency data. Data collection should include downhole geophysical techniques that allow for in situ measurement of discontinuity orientations. In addition, any core holes drilled should be logged with specific attention given to fracture characteristics, including frequency, orientation, weathering, and infilling. Given the vertical nature of a significant portion of the known fractures, angled drilling may be required to intersect and define the fracture zones. As mining approaches known fracture and fault zones, the extent, character, and water-bearing potential of the zones should be investigated. Such investigations may include combinations of angled drilling, downhole geophysics, and hydraulic conductivity testing. While many of the major faults and fracture zones have been identified, the extent to which fracturing extends from the mapped lines is unknown and may vary by area. Previous investigation suggests that relatively intense jointing may extend out to approximately 200 feet on either side of some faults, with the most intense fracturing only extending to approximately five feet on each side of known faults. As previously mentioned, the current assessment does not address the expected chemical quality of water to be encountered in the proposed mine. Groundwater quality data at the Mary Lee and Blue Creek horizon does not appear to be available. Future exploration activities should consider collection of water samples from the proposed mine horizon, if possible, to provide an initial means for evaluation. Future groundwater quality investigation should include analyses for metals (e.g., iron, manganese, and select “trace” metals), major ions (ex: chloride, sodium, sulfate, magnesium, calcium,

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 35 and potassium), pH, Total Suspended Solids (TSS), Total Dissolved Solids (TDS), and Specific Conductance (SC). Recent guidance from the United States Environmental Protection Agency (USEPA) suggests that coal mine operations with discharges having SC values greater than 300 microsiemens per centimeter (µS/cm) should be closely monitored and operations with discharges of greater than 500 µS/cm should be required to take mitigative action. The guidance is not law and enforcement of such standards is unknown. 7.5 Geotechnical Data Geotechnical data specific to the expected mine horizon is somewhat limited and has not been systematically collected as part of the mineral exploration drilling process. However, a report completed by Park (1989) contains site-specific laboratory and core logging geotechnical information for seven holes centrally located within the proposed mine area. Available data includes laboratory results for roof and floor rock and coal, for specific gravity, Uniaxial Compressive Strength (UCS), elastic modulus, Poisson’s Ratio, angle of internal friction, and cohesion. Core logging geotechnical data includes Rock Quality Designation (RQD) values for the roof and floor of the proposed mine. Additional UCS values, estimated from Point Load Tests (PLT), are also available for one additional hole located along Little Yellow Creek. The available data suggests that the proposed mine area may have the potential for some mine floor instability. Incorporation of additional geotechnical data collection via core drilling and downhole geophysics is recommended. Pillar sizing and design for the proposed mine is similar to that of Warrior Met’s two nearby active mines, and consistent with region-specific design equations initially developed in the 1980’s. The stability of the current pillar designs has also been verified using the Analysis of Coal Pillar Stability (ACPS) software. The pillar design incorporates a yield pillar concept that may mitigate some of the potential floor heave concerns. 8 Sample Preparation Analyses and Security 8.1 Prior to Sending to the Lab All of the coal samples have been obtained from the Property by subsurface exploration using core drilling techniques. The protocol for preparing and testing the samples has varied over time and is not well documented for the older holes drilled on the Property. Typical core-drilling sampling methods for coal in the United States involves drilling through the seam, removing the core from the barrel, describing the lithology, wrapping the sample in a plastic sleeve and placing it lengthwise into a covered core box, marking hole ID and depth intervals on each box and lid, and allowing the core to be delivered to a laboratory in correct stratigraphic order, with original moisture content. This process has been the norm for both historical practices at Warrior Met’s active and depleted operations and ongoing exploration activities at the Blue Creek property.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 36 This work is typically performed by the supervising driller, geologist, or company personnel. Samples are most often delivered to the company after each shift or acquired by company personnel or representatives. Most of the coal core samples were obtained by previous or current operators on the Property. MM&A did not participate in the collection, sampling and analysis of the core samples. However, it is reasonable to assume, given the consistency of quality from previous operators, that these samples were generally collected and processed under industry best practices. This assumption is based on MM&A’s familiarity with the operating companies and the companies used to perform the analyses. 8.2 Lab Procedures Coal-quality testing has been performed over many years by operating companies using different laboratories and testing regimens. Some of the samples have raw analyses and washabilities on the full seam (with coal and rock parting layers co-mingled) and are mainly useful for characterizing the coal quality for projected production from underground mining. Other samples have coal and rock analyzed separately, the results of which can be manipulated to forecast underground mining quality. Care has been taken to use only those analyses that are representative of the coal quality parameters for the appropriate mining type for each sample. Standard procedure upon receipt of core samples by the testing laboratory is to: 1) log the depth and thickness of the sample; then 2) perform testing as specified by a representative of the operating company. Each sample is then analyzed in accordance with procedures defined under American Society for Testing and Materials (ASTM) standards including, but not limited to washability (ASTM D4371); ash (ASTM D3174); sulfur (ASTM D4239); Btu/lb. (ASTM D5865); volatile matter (ASTM D3175); Free Swell Index (FSI) (ASTM D720). While not confirmed by MM&A, it is assumed that best practices and ASTM (or equivalent standards at the time of testing) were utilized in laboratory quality testing. 9 Data Verification 9.1 Procedures of Qualified Person MM&A reviewed the Warrior Met supplied digital geologic database, consisting of data records which include drill hole and coal quality information for holes that lie within and adjacent to the Property. To the extent available, scanned copies of original documents were provided for much of the Property (mining areas A, B, C, D, and E), and these were reviewed by MM&A on a test case basis. These sources comprise the primary data utilized in the evaluation of reserves within the Property. Warrior Met maintains copies of geologist field observation logs for each core hole drilled by Warrior Met and those that could be obtained from other entities and has compiled the core hole data into a digital geologic database consisting of approximately 1,250 drill holes, supplemented with additional GSA log data interpreted by MM&A. Of these, there are approximately 775 active CBM wells located in the project area operated by Warrior Met’s gas division, with an additional 455 wells operated by

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 37 Urban Oil and Gas. CBM wells are typically drilled on approximately 40-acre centers, which equates to roughly ¼-mile spacing. Geophysical logs were used wherever available to assist in confirming seam correlation and to verify seam thickness measurements. These are highly useful tools not only for identification of seam thickness, but also to determine intervals between seams; the relative location and amount of displacement found adjacent to faults as depicted on the maps can also be evaluated with this type of data. The level of accuracy for geophysical logs can be broadly grouped into one of three categories: low- resolution, intermediate-resolution, and high-resolution, due to: vintage of the logs, quality of scanned images, suite of tools used to log the well, source-to-detector spacing, scale of presentation, and so forth. Geophysical logs on the Property are of two general types: > CBM wells from various logging companies, that are publicly available from the GSA and have previously been reviewed and recorded by Warrior Met geologists for entry in the Warrior Met geological database. There are approximately 950 gas well geophysical logs within the Property, for which copies of approximately 750 scanned logs or LAS files (within all areas of the mine) were provided and reviewed on a test case basis by MM&A. Classification of these logs ranges from low- to intermediate-resolution. > Core holes drilled for P&M and geophysically logged by MM&A between 1991 and 1995, of which there are 87 high-resolution geophysical logs incorporated into this evaluation, most of which are located in the eastern portion of the Property (with a few scattered in the west). Copies of the MM&A geophysical logs are maintained within its archives located in Bluefield, Virginia. (An additional 23 holes were geophysically logged by MM&A on the Property; however, coordinates are unavailable and consequently have not been utilized in this evaluation.) A significant effort was put into verifying the integrity of the database. As noted previously, an additional group of drilling records was identified and categorized as not honored and ignored for mapping purposes for the following reasons: - possessing poor or suspect core recovery; or - thickness impacted by the influence of tectonic faulting; or - seam thickness information was interpreted from older vintage and/or lower resolution geophysical logs. - original records were unavailable from which to confirm suspect information. Once this was completed, stratigraphic columnar sections were generated in select areas using cross- sectional analysis to establish or confirm coal-seam correlations. Furthermore, reported drill hole collar elevations were checked and verified utilizing a LIDAR topographic model, and adjustments were made as deemed appropriate. When the database was fully vetted, seam thickness, base-of-seam elevation,

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 38 roof and floor lithology, and overburden maps were finally generated for use in the mine planning process. 9.2 Limitations As with any exploration program, localized geologic anomalies cannot always be identified; however, the greater the density of samples taken, the lower the risk. Once an area is identified as being of interest for inclusion in the mine plan, additional samples are normally collected to reduce the risk within those specific areas. In general, provision is made in the mine planning portion of the study to allow for localized anomalies that are typically classed more as a nuisance than a hinderance. 9.3 Opinion of Qualified Person In the eastern portion of the Property (Mining Areas A through D), sufficient data has been obtained through various exploration and sampling programs to support the geological interpretations of seam structure and thickness for the mineable coal horizons. The data are of sufficient quantity and reliability to reasonably support the coal resource and coal reserve estimates in this TRS, compliant with 2021 SEC Standards. Acquisition of data (specifically core drilling and coal quality testing) are ongoing within the western and southwestern portions of the Property (mining Area E). Thus, resource tonnage estimates presented herein specific to mining Area E are based upon preliminary results. It is Warrior Met’s and MM&A’s intentions to elevate the classification of such resources in Area E to 2021 standards via further geologic analysis and an ongoing exploration program to determine quality characteristics of the subject coal. 10 Mineral Processing and Metallurgical Testing 10.1 Testing Procedures Coal quality data was available for coal samples from the legacy core holes within the resource area. Because these samples were obtained by different entities at different times, some variability exists between sampling and/or testing procedures (i.e., variable float gravity, coal only sampling, etc.). Data from three sets of borings have been provided and are referenced as the M-series, NR5-series, and S - series of holes. 10.1.1 M-Series Holes The M-series of borings were performed by U.S. Steel and the samples were tested by the U.S. Steel’s Research Division. The M-Series borings are further sub-divided into two groups based on the reports in which they were issued. Borings M-360 through M-808 were reported in a memorandum from the U.S. Steel Research Division, “Evaluation of Mary Lee/Blue Creek-Seam Coal Drill Cores and Composite Samples from the West-West Wilmington Area, Tuscaloosa County, Alabama, December 1980”. From

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 39 the report, the total seam, including the Middleman, was processed in laboratory analysis. The samples were crushed to minus ¼-inch, and then split for washability and composite analysis. These samples were evaluated at cumulative float specific gravities of 1.35 and 1.55. The resulting samples were tested for Proximate Analysis, Gieseler Plasticity, Free Swelling Index, Hardgrove Grindability, and Petrographic Analysis. The second set of M-series borings, M-812 through M-817, were reported in a study issued by U.S. Steel, “West Wilmington Coal Project Tuscaloosa County, Alabama, 1983”. Again, the total seam was considered in this study, including the Middleman. The samples were crushed to minus ¼-inch and then subjected to washability analysis. The samples were evaluated at a cumulative float specific gravity of 1.55. This sample was then divided, half of which was retained for further analysis. Half of the sample was re-analyzed at a float at a specific gravity of 1.37. The resulting samples were subjected to the following tests: Proximate Analysis, Total Sulfur, Ultimate Analysis, Calorific Value Analysis, Gieseler Plasticity, Free Swelling Index, Ash Composition, Ash Fusion Temperature, and Petrographic Analysis. 10.1.2 NR5-Series Holes The NR5-series of borings were performed by P&M. A report summarizing the NR5 series of borings has not been provided or reviewed by MM&A. Inferences have been made based on the provided laboratory data sheets. The Mary Lee and Blue Creek samples were processed separately for these borings, and no Middleman was included. It is unknown if the samples were crushed prior to the washability analysis. These sample were only floated at a cumulative specific gravity of 1.7. The resulting samples were tested by Commercial Testing & Engineering Company with report dates in 1990, 1991, and 1992. The tests performed on these samples include Proximate Analysis, Ultimate Analysis, Ash Fusion Temperature, Forms of Sulfur, Water Soluble Alkalis, Hardgrove Grindability, Equilibrium Moisture, Free Swelling Index, Ash Composition, Base-Acid Ratio, Fouling Index, and Slagging Index. 10.1.3 S-Series Holes The S-series of borings were performed by Walter. As with the NR5-series holes, no report has been provided summarizing the sampling and testing methods for the S-series borings. Some inferences have been made from the laboratory data sheets that have been provided. The Mary Lee and Blue Creek samples from these borings were processed separately and the Middleman was not included in the analysis. It is unknown if the samples were crushed prior to the washability analysis. These samples were tested at specific gravities of 1.4, 1.5, 1.6, and 1.7. The resulting samples were tested for ash and sulfur. A composite sample, assumed to be analyzed at a cumulative Float 1.5 specific gravity sample, was tested for a Proximate Analysis and Free Swelling Index. These basic coal quality tests were performed by Warrior Met’s in-house lab. Over the years, select samples have been sent to various laboratories including: SGS; Coal Tech Petrographic Associates; and Precision Testing Laboratory (Precision) for more specialized testing. These analyses

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 40 include Ultimate Analysis, Hardgrove Grindability, Ash Fusion Temperature, Ash Composition, Coke Reactivity Index, Coke Strength After Reaction, Gieseler Plasticity, and Petrographic Analysis. Report dates for the S-series borings include data from 2009 through 2021. 10.2 Warrior Met’s Current Exploration Procedures Warrior Met currently has an on-going exploration program on the Property, consisting of 7 fully cored holes or spot-cored holes drilled in 2021 within Area E, recently completed as of the writing of this report. Coal samples were subsequently delivered to Precision Testing in Daniels, West Virginia. From the 2021 exploration program, six (6) S-series core hole samples of the Mary Lee and Blue Creek samples were collected and separately analyzed. These samples were analyzed by Precision, including the following: > Washability analyses at multiple float-sink gravities, including flotation analysis on -60 mesh material. > Proximate and Ultimate analyses > Audibert – Arnu Dilatometer, FSI, Gieseler Plasticity, and Fusion Temperature of Ash (Reducing) > Mineral analysis of ash > Petrographics, Vitrinite Reflectance 10.3 Quality Assessment Coal quality parameters (yield, ash and sulfur) at a cumulative float gravity of 1.55 were used to assess the consistency of the data across the three series described above. MM&A reconstituted a combined Mary Lee, Middleman and Blue Creek section for each honored drill hole. In instances where a float gravity of 1.55 was not tested, appropriate values were determined using graphical interpolation of similar holes. These values processed using Carlson Software and the grids were generated to contour and assess consistency across the mine property. MM&A determined that in-seam yield and product ash were generally consistent across Areas A through D when assessing the total mineable section. Product sulfur appears to generally increase gradually from the eastern to western portion of the Property. Further exploration is recommended to confirm or dispute this trend. The results of the three exploration programs have been assembled and tabulated in a Microsoft® Excel spreadsheet to determine the basic statistical parameters (average, maximum, minimum) of typical chemical and physical coal quality properties. The data has been tabulated for the Mary Lee, Blue Creek, and Total Seam by density class. The basic statistical parameters for each seam at a float 1.50 gravity, or nearest available gravity, are shown below in Table 10-1. Samples that were deemed to be erroneous were excluded from calculations.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 41 Table 10-1: Yield, Clean Ash and Sulfur (1.5 SG), Eastern Mining Areas A Through D Mary Lee Blue Creek Total Seam Float 1.5 Float 1.5 Float 1.55 % Rec. % Ash % Sulfur % Rec. % Ash % Sulfur % Rec. % Ash % Sulfur % Vol. Average 88.15 12.77 0.91 91.90 8.42 0.60 68.53 9.35 0.70 28.10 Maximum 96.26 14.26 1.20 98.01 10.26 0.79 80.30 12.90 1.21 30.10 Minimum 76.09 11.51 0.71 73.50 6.98 0.52 44.60 7.69 0.50 26.10 No. of Samples 18 18 18 19 19 19 59 59 59 58 As stated previously, the method of sampling, testing, and reporting was not consistent across the different data series. Due to the lack of summary reports describing the testing procedures, observations of the reported data were used to determine when a combined sample (i.e., combination of Mary Lee and Blue Creek horizons) sample did or did not include the middleman parting. This observation was used to exclude data when necessary as well as identify what borings required further data processing for inclusion in MM&A’s analysis. Where quality results were deemed not useful or unrepresentative, those results were excluded (not honored) from statistical analyses and coal quality modeling but are included within detailed coal quality tables in MM&A’s files for informational purposes with the appropriate qualifying comments. 10.4 Derivation of Product Yield Generalized washabilities (i.e., cumulative float tables at various gravities) were produced for both the Mary Lee and Blue Creek seams. Due to the lack of sizing data, the washabilities are presented on a whole (by zero) basis with top-sizes varying between 2 inches and one-quarter inch, depending on the vintage of the drill hole. Averages were generated for each respective float specific gravity. This introduced some bias, as certain gravities included analysis for more holes, because not all holes were evaluated at the same gravity increments. Efforts were made to include as much of the provided washability data as possible. Data points that were deemed to be erroneous were omitted from the analysis. Likewise, the M-series data was not included in the average because its test work included the parting between the Mary Lee and Blue Creek seams. Due to the thickness variability of the respective Mary Lee and Blue Creek seams, it was determined that yields were to be calculated on independently for each seam, with the assumption that all Middleman material reports to reject circuitry. Generalized washabilities for each seam were produced by averaging the cumulative float data from selected NR5 and S-series boreholes. Table 10-2 shows the average washabilities of the two seams as well as the average combined washability excluding the middleman. The combined washability was calculated by weight averaging the individual seam washabilities with a ratio of 2.32 tonnes of Blue Creek coal per 1 ton of Mary Lee. This ratio is based on the life-of-mine tonnage model which results in the same ratio of Blue Creek to Mary Lee tonnes.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 42 Table 10-2: Washability for the Mary Lee, Blue Creek, and Combined Seam (Excluding Middleman), Dry Basis, Eastern Mining Areas A Through D Incremental Cumulative (%) Yield (%) Ash (%) Sulfur (%) Yield (%) Ash (%) Sulfur Mary Lee 1.4 77.55 11.75 0.82 77.55 11.75 0.82 1.5 10.40 20.50 1.51 87.95 12.79 0.90 1.6 2.73 29.31 2.56 90.67 13.28 0.95 1.7 1.35 40.02 3.19 92.02 13.67 0.98 Sink 7.98 66.14 2.16 100.00 17.86 1.08 Blue Creek 1.4 82.50 7.42 0.61 82.50 7.42 0.61 1.5 8.77 17.75 0.62 91.26 8.41 0.61 1.6 2.64 26.32 0.88 93.90 8.92 0.62 1.7 1.33 33.98 1.34 95.23 9.27 0.63 Sink 4.77 65.26 0.83 100.00 11.93 0.64 Combined Mary Lee and Blue Creek, Excluding Middleman 1.4 81.01 8.67 0.67 81.01 8.67 0.67 1.5 9.26 18.68 0.92 90.26 9.70 0.69 1.6 2.67 27.24 1.40 92.93 10.20 0.71 1.7 1.34 35.81 1.90 94.27 10.56 0.73 Sink 5.73 65.63 1.39 100.00 13.72 0.77 All the provided exploration data was from exploration core testing. Quality evaluations associated with slim core testing (including NX-sized core) tends to produce a cleaner ash and higher yield than is achievable during the mining the process. This is due to the small top-size of the core samples which provide greater coal-ash liberation than what would be expected in a typical run-of-mine product. Additionally, laboratory results are theoretical and do not account for plant inefficiencies or losses. MM&A modified yields and clean ash values as presented in Table 10-2 to reflect a 95-percent plant efficiency and a 1-percent gain in clean ash. Table 10-3 shows the average cumulative washability data after an ash modifier of 1-percent and an organic efficiency of 95-percent have been applied to the data.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 43 Table 10-3: Washability for the Mary Lee, Blue Creek, and Combined Seam (Excluding Middleman), Dry Basis, After Yield and Ash Adjustment; Eastern Mining Areas A Through D Cumulative Float (%) Yield (%) Ash (%) Sulfur Mary Lee 1.4 73.67 12.75 0.82 1.5 83.55 13.79 0.89 1.6 86.14 14.28 0.94 1.7 87.42 14.67 0.97 Sink 100.00 17.86 1.08 Blue Creek 1.4 78.37 8.42 0.61 1.5 86.70 9.41 0.61 1.6 89.21 9.92 0.62 1.7 90.47 10.27 0.63 Sink 100.00 11.93 0.64 Mary Lee and Blue Creek Combined 1.4 76.96 9.67 0.67 1.5 85.75 10.70 0.69 1.6 88.28 11.20 0.71 1.7 89.55 11.56 0.73 Sink 100.00 13.72 0.77 Examining the total seam washability shows that washing the combined coal at a 1.42 specific gravity results in a product ash of 10-percent with yields approaching 80-percent on a dry basis. Projecting this cut point on an individual seam basis suggests respective yields of 80-percent and 77-percent for the Blue Creek and Mary Lee seams, inclusive of a 95-percent plant efficiency factor. Average washabilities suggest individual dry product ashes of 8.7-percent and 13.1-percent for the Blue Creek and Mary Lee seams. As the relative thicknesses and subsequent tonnage ratios vary from the average 2.32 to 1 (Blue Creek to Mary Lee), total clean ash will fluctuate. Production timing as incorporated in financial modeling suggests annual average clean ash variations to be in the range of 0.5-percent. Localized higher ash zones and zones with relatively low percentages of Blue Creek coal will result in higher ash fluctuations. Such fluctuations in quality can be mitigated by stockpiling of raw and clean coal and blending. 10.5 Relationship of Tests to the Whole The actual quality of shipped coal will likely vary due to the following factors: 1) particle size of the coal fed to the plant; 2) specific gravity of the float media in use at the preparation plant; 3) type of plant circuit(s); 4) efficiency of the plant circuit(s); 5) the moisture content of the final product; and 6) customer requirements. However, once baseline coal quality is established, additional sampling programs and testing procedures can be implemented to assist with: 1) predicting additionally refined plant yields which account for anticipated particle sizes that reflect a typical ROM product and include out-of-seam dilution (OSD); 2) assessing optimum specific gravity of preparation plant float media to meet product specifications; and 3) further designing and/or modifying plant circuit(s) if necessary.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 44 In general, the data obtained thus far shows that the quality attributes are reasonably consistent and should allow for predictability of the product coal quality from the subject seams. 10.6 Lab Information MM&A assumes that laboratory testing has following appropriate ASTM or equivalent standards, including those defined under ASTM standards including, but not limited to: > ASTM D 4371 – Test Method for Determining Washability Characteristics of Coal > ASTM D 3174 – Method for Ash in the Analysis Sample of Coal and Coke > ASTM D 5865 – Test Method for Gross Calorific Value of Coal and Coke > ASTM D 3175 – Test Method for Volatile Matter in the Analysis Sample of Coal and Coke > ASTM D 720 – Test Method for Free-Swelling Index (FSI) of Coal > ASTM D 5515 - Test Method for Determination of the Swelling Properties of Bituminous Coal Using a Dilatometer (Arnu) > ASTM D 2639 – Test Method for Plastic Properties of Coal (Gieseler) > ASTM D 1857 - Standard Test Method for Fusibility of Coal and Coke Ash > ASTM D 2798 – Microscopical Determination of the Reflectance of Vitrinite in a Polished Specimen of Coal 10.7 Relevant Results, Metallurgical Quality Table 10-4 presents a summary of the ranges of available metallurgical quality data for the combined seams. This data covers samples from various float gravities as well as total number of samples analyzed per data set. Data from any erroneous holes were excluded from the reported ranges. Detailed metallurgical quality tables are retained in MM&A’s files. Three sets of quality tables provide seam Rheological Information, Petrographic Information, as well as summarize any additional testing. The individual coal sample reports from the various coal testing laboratories are held in the MM&A files and can be provided upon request.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 45 Table 10-4: Metallurgical Characteristics Total Seam Elemental Ash Analysis Min Max No. of Samples Na2O (Sodium Oxide) + K2O (Potassium Oxide) 1.75 3.76 17 Base / Acid Ratio (in ash) 0.1 0.2 17 Audibert-Arnu Maximum Dilatation 113 180 5 Maximum Contraction -27 -22 5 Gieseler Plasticity Max. Fluidity DDPM (dial divisions per minute) 1300 30000 82 Fluid Temp. (Plastic) Range ºC 71 117 82 Petrographic Indices Hardgrove Grindability Index 54 67 53 Free Swelling Index (FSI) 8 9 66 Mean Max Reflectance % 0.95 1.23 127 Composition Balance Index (CBI) 0.22 1.01 127 Rank Index (Calculated Strength) 3.22 5.18 127 Calculated Stability Factor 30 64.5 21 Coke Reactivity Index (CRI) 31.8 34.5 2 Coke Strength After Reaction (CSR) 45.2 48 2 11 Mineral Resource Estimates MM&A independently created a geologic model to define the coal resources at the Property. Coal resources were estimated as of December 31, 2021. Resources are reported inclusive (Areas A through D) of coal reserves and exclusive of coal reserves (Area E). Resources for Areas A through D presented herein are utilized for mine planning purposes, and subsequently, reserve estimates. Due to constraints imposed by differences in coal quality testing methodology, resources represent in-place coal tonnages and in-place coal quality, exclusive of the interburden between the Mary Lee and Blue Creek seams (a.k.a. Middleman). Ash bands and partings within the Mary Lee and Blue Creek horizons are included in tonnage and quality projections for the property’s resource. 11.1 Assumptions, Parameters and Methodology Geological data were imported into Carlson Mining® (formerly SurvCADD®) geological modelling software in the form of Microsoft® Excel files incorporating, drill hole collars, seam and thickness picks, bottom seam elevations and raw and washed coal quality. These data files were validated prior to importing into the software. Once imported, a geologic model was created, reviewed and verified- with a key element being a gridded model of coal seam thickness. Resource tonnes were estimated by using the seam thickness grid based on each valid point of observation and by defining resource confidence arcs around the points of observation. Points of observation for Measured and Indicated confidence

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 46 arcs were defined for all valid drill holes that intersected the seam using standards deemed acceptable by MM&A based on a detailed geologic evaluation and a statistical analysis of all drill holes within the projected reserve areas as described in Section 11.1.1. The geological evaluation incorporated an analysis of seam thickness related to depositional environments, adjacent roof and floor lithologies, and structural influences. After validating coal seam data and establishing correlations, the thickness and elevation for seams of economic interest were used to generate a geologic model. Due to the reasonable continuity of the coal beds, the principal geological interpretation necessary to define the geometry of the coal deposits is the proper modeling of their thickness and elevation. Both coal thickness and quality data are deemed by MM&A to be reasonably sufficient within the resource areas. Therefore, there is a reasonable level of confidence in the geologic interpretations required for coal resource determination based on the available data and the techniques applied to the data. Table 11-1 below provides the geological mapping and coal tonnage estimation criteria used for the coal resource and reserve evaluation. These cut-off parameters were developed by MM&A based on its experience with comparable mining projects. This experience includes technical and economic evaluations of numerous properties in the region for the purposes of determining the economic viability of the subject coal reserves. Table 11-1: General Reserve and Resource Criteria Item Parameters Technical Notes & Exceptions* • General Reserve Criteria Reserve Classification Reserve and Resource Reliability Categories Reserve (Proven and Probable) Resource (Measured and Indicated) To better reflect verified geological information, “arcs” which represent indicated resource (probable reserve) and measured resource (proven reserve) are limited to those holes in which MM&A verified source data Effective Date of Resource Estimate December 31, 2021 The Property represents a greenfield area and has not been developed as of the date of this report. Effective Date of Reserve Estimate December 31, 2021 The Property represents a greenfield area and has not been developed as of the date of this report. Seam Density Variable, dependent upon seam characteristics (based on available drill hole quality). Density estimates are based upon the relative thickness of the 3 primary constituents of the mineable section, with the Mary Lee, Middleman and Blue Creek respectively modeled at 89, 140 and 85 pounds per cubic foot. • Underground-Mineable Criteria Map Thickness Total seam thickness Minimum Seam Thickness Approximately attributed to an equivalent 3-feet of combined coal thickness between the Mary Lee and Blue Creek horizons In some instances, projections extend beyond 3-ft coal thickness cutoff for contiguous mine plan. Minimum Mining Thickness 5-feet for Longwall Mining; 7-feet for Continuous Mining Sections Minimum In-Seam Wash Recovery Driven by 3-feet coal thickness Wash Recovery Applied to Coal Reserves Variable, dependent upon seam characteristics (based on available drill hole quality). Recovery estimates are based upon the relative thickness of the 3 primary constituents of the mineable section, with the Mary Lee, Middleman and Blue Creek respectively modeled at 77, 0 and 80

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 47 Item Parameters Technical Notes & Exceptions* percent. Simulations utilized to achieve a 10- percent ash product. Out-of-Seam Dilution Thickness for Run-of-Mine Tonnes Applied to Coal Reserves 0 inches Dilution assumed to wash-out of ROM product and is not included in saleable reserves. Financial modeling includes assumption of minimum of 3-inches of Out-of- Seam dilution at 140 lb./ft3 density Mine Barrier Not Applicable—Projections Do Not Border Active or Abandoned Reserves CBM Wells CBM Wells Assumed to be Plugged Ahead of Mining and Mined Through. No reserve/resource reductions considered. Adjustments Applied to Coal Reserves 10 percent moisture increase; 5 percent preparation plant inefficiency (included in aforementioned wash recovery). Longwall panel tonnages further decreased by 5-percent factor to account for unknowns associated with faulting. 11.1.1 Statistical Analysis for Classification MM&A completed a statistical 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 of a point of observation represents a measured resource whereas coal between ¼ mile and ¾ mile from a point of observation is classified as indicated. Inferred resources are commonly assumed to be located between ¾ mile and 3 miles 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. A general acceptable thickness variation for measured resources is approximately 20 percent. Thickness variations for indicated resources are assumed to average less than 30 percent, which is also comparable with historical standards. MM&A extracted drill hole information from within projected reserve areas, which included coordinates (northing and easting) and combined Mary Lee and Blue Creek seam thickness. Drill holes included diamond core, rotary, and CBM holes. Those holes which lacked source data (i.e., lacked high resolution geophysical logs or original drillers logs) were fileted separately. Once the data was extracted, matrices were formed to calculate the distance and percent change in seam thicknesses between each combination of drill holes in the reserve area. Distances were then sorted smallest to largest and the variation in thicknesses was analyzed as a function of distance between drill holes. Ultimately, the average variation in thicknesses between drill holes at ¼-, ¾- and 3-mile intervals were calculated to determine the applicability of common US resource classification systems. The total number of drill holes used in this study is 517, of which 275 are included as source data. Table 11-2 is a breakdown of the statistics used in the study with all three bench configurations combined.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 48 Table 11-2: Statistical Breakdown Classification: Measured Indicated Inferred Distance Between Drill holes (miles): 0 – ¼ ¼ - ¾ ¾ - 3 Number of Data Pairs (Source Data Only): 518 4,694 41,192 Number of Data Pairs (All Data): 1,478 10,604 119,622 Average Thickness Variation (Source Data Only): 24% 28% 33% Average Thickness Variation (All Data): 45% 40% 57% Percent of Pairs Exhibiting Less Than 20-percent Negative Variability (Source Data Only): 80% 80% 78% Percent of Pairs Exhibiting Less Than 20-percent Negative Variability (All Data): 73% 75% 69% As is shown, the thickness variation between holes (verified data only) is approximately equivalent to historically accepted standards. Utilizing all of the drill hole information, including that which lacks source data, significant variations exist which would prohibit historically accepted standards. As such, MM&A only utilized those points of observation with source information for indicated and measured status. Of important note, thickness modeling for resource (and subsequently, reserve) estimates included all available thickness information, including the highly variable, non-vetted drill holes which lack source information. MM&A initially computed resource estimates both with and without the highly variable, non-vetted information. Resources estimates were within 1-percent of one-another, despite the highly variable nature of the non-vetted information. MM&A geologists and engineers modeled the deposit to reflect the realities of mining. This statistical study demonstrates that for each configuration of mineable seams, the classification system of measured (0 to ¼ mile), indicated (¼ to ¾ mile), and inferred (¾ to 3 miles) is reasonably adequate to predict seam thickness variation for modeling and mining purposes, for those drill holes which contain sufficient source exploration to be deemed reliable points of observation for thickness. 11.2 Qualified Person’s Estimates Based on the work described and detailed modelling of the areas considering all the parameters defined, a coal resource estimate, summarized in Table 11-3, was prepared as of December 31, 2021, for Property (see Appendix 1). Resources are presented inclusive of coal reserves, not in addition to coal reserves. Resources represent in-place coal tonnages exclusive of the interburden, but inclusive of any high-ash partings within the Mary Lee and Blue Creek coal seams. As such, in-situ tonnages and quality as presented in Table 11-3 reflect the inclusion of high-ash partings which is ultimately removed after mining during coal preparation.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 49 Table 11-3: Coal Resources Summary as of December 31, 2021 Coal Resource (Dry Tonnes, In Situ, Mt) Resource Quality (Dry) Seam Measured Indicated Inferred Total Ash% Sulfur% VM% Inclusive of Reserves (East Area) Mary Lee 18.8 10.5 0.0 29.3 - - - Blue Creek 49.7 23.3 0.0 73.0 - - - Total 68.5 33.8 0.0 102.3 13.7 0.8 30 Exclusive of Reserves (West Area) Mary Lee 0.0 15.3 0.0 15.3 - - - Blue Creek 0.0 29.5 0.0 29.5 - - - Total 0.0 44.9 0.0 44.9 19.3 1.6 31 Grand Total 68.5 78.7 0.0 147.2 - - - Note 1: For the East area, Resource tonnes are inclusive of reserve tonnes since they include the in-situ tonnes from which recoverable coal reserves are derived. Note 2: For the West area, Resource tonnes are exclusive of reserve tonnes since they include the in-situ tonnes for which no recoverable reserve tonnes have been estimated. Note 3: Coal resources are reported on a dry basis, inclusive of high-ash partings which are ultimately removed during coal preparation. Surface moisture and inherent moisture are excluded. Note 4: Coal resource quality reported on a raw, weight-averaged basis 11.3 Qualified Person’s Opinion Based on the data review, the attendant work done to verify the data integrity and the creation of an independent geologic model, MM&A believes this is a fair and accurate representation of the Property’s resources. Resources exclusive of reserve are limited by quality definition. Initial drilling suggests potentially higher ash and sulfur parameters in comparison to the eastern areas. Sufficient exploration data exists to define the thickness distribution trends of the western area, but ongoing additional exploration is needed to better define quality characteristics of the subject coals. Additionally, the western resource area exhibits thinner seam characteristics than the eastern area. Extrapolation of trends between seam thickness and costs suggests that the coals in the western resource area could be mined at reasonably similar costs to those in the east, albeit higher. Market impacts of potentially higher ash and sulfur values is unknown. Warrior Met is currently planning an exploration campaign to better define these trends. 12 Mineral Reserve Estimates 12.1 Assumptions, Parameters and Methodology Coal Reserves are classified as proven or probable considering “modifying factors” including mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors. > Proven Coal Reserves are the economically mineable part of a measured coal resource, adjusted for diluting materials and allowances for losses when the material is mined. It is based on appropriate assessment and studies in consideration of and adjusted for reasonably assumed

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 50 modifying factors. These assessments demonstrate that extraction could be reasonably justified at the time of reporting. > Probable Coal Reserves are the economically mineable part of an indicated coal resource, and in some circumstances a measured coal resource, adjusted for diluting materials and allowances for losses when the material is mined. It is based on appropriate assessment and studies in consideration of and adjusted for reasonably assumed modifying factors. These assessments demonstrate that extraction could be reasonably justified at the time of reporting. Upon completion of delineation and calculation of coal resources, MM&A generated a LOM plan for the Project. The footprint of the LOM plan is shown on the maps in various figures throughout the text. The mine plan was generated based on previous mine plans, anticipated lease acquisitions, and operational criteria with modifications where necessary due to geologic mapping, or other factors determined during the evaluation. Carlson Mining software was used to generate the LOM plan. The mine plan was sequenced based on productivity schedules developed collaboratively between MM&A and Warrior Met. MM&A judged the productivity estimates and plans to be reasonable based on experience and current industry practice. A minimum mining height of 5 feet was used due to the longwall mining method being employed, and 7.0 feet for continuous miner sections. For coal seams thinner than the assigned mining height, the difference between the coal seam height and assigned mining height consists of OSD. Mine recovery generally varies between 30 and 60 percent for continuous mining panels, and 95 percent for longwall. Plant recovery is a function of in-seam recovery, OSD and adjustments to produce a 10-ash product. Typical entry width is 20-feet. Raw, ROM production data outputs from LOM plan sequencing were processed into Microsoft® EXCEL spreadsheets and summarized on a quarter and annual basis for processing into the economic model. Average seam densities were estimated to determine raw coal tonnes produced from the LOM plan. Average mine recovery and wash recovery factors were applied to determine coal reserve tonnes . Coal reserve tonnes in this evaluation are reported at a 10.0-percent moisture and represent the saleable product from the Property. Pricing, as provided by Warrior Met, is described in Section 16.2. The pricing data assumes an FOB railcar or barge price of approximately $125 per metric tonne for calendar year 2025 when production begins. The price increases, based on the most recent supply and demand forecast, to approximately $158 per metric tonne by 2030 then it is held constant afterwards. Pricing for years 2022 through 2024 is shown for information purposes only, as revenue streams from the operation are not projected to be realized until 2025. The coal resource mapping and estimation process, described in the report, was used as a basis for the coal reserve estimate. Proven and probable coal reserves were derived from the defined coal resource

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 51 considering relevant processing, economic (including technical estimates of capital, revenue, and cost), marketing, legal, environmental, socio-economic, and regulatory factors and are presented on a moist, recoverable basis. As is customary in the US, the categories for proven and probable coal reserves are based on the distances from valid points of measurement as determined by the QP for the area under consideration. For this evaluation, measured resource, which may convert to a proven reserve, is based on a ¼-mile radius from a valid point of observation. Points of observation include exploration drill holes and gas wells, approximately half of which have been vetted by the review of original, source information. The geologic model is based on seam depositional modeling, the interrelationship of overlying and underlying strata on seam mineability, seam thickness trends, the impact of seam structure (i.e., faulting), intra-seam characteristics, etc. Once the geologic model was completed, a statistical analysis, described in Section 11.1.1 was conducted and a ¼-mile radius from a valid point of observation was selected to define Measured Resources. Likewise, the distance between ¼ and ¾ of a mile radius was selected to define Indicated Resources. Indicated Resources may convert to Probable Reserves. There are no Inferred Resources (greater than a ¾-mile radius from a valid point of observation) within the mine plan, resources, or reserves. 12.2 Qualified Person’s Estimates The coal reserves, as shown in Table 12-1, are based on a technical evaluation of the geology and a bankable feasibility study of the coal deposits. The extent to which the coal reserves may be affected by any known environmental, permitting, legal, title, socio-economic, marketing, political, or other relevant issues has been reviewed rigorously. Similarly, the extent to which the estimates of coal reserves may be materially affected by mining, metallurgical, infrastructure and other relevant factors has also been considered. The results of this TRS define an estimated 63.3 Mt of proven and probable marketable coal reserves. Table 12-1: Coal Reserves Summary, Specific to Eastern Mining Areas A through D, (Marketable Sales Basis) as of December 31, 2021 Demonstrated Coal Reserves (Wet Tonnes, Washed or Direct Shipped, Mt) Quality (Dry Basis) By Reliability Category By Control Type Seam Proven Probable Total Owned Leased Option Ash% Sulfur% VM% Mary Lee 11.1 6.7 17.8 3.0 12.4 2.3 12.8 0.9 31 Blue Creek 30.4 15.1 45.5 7.7 32.8 5.0 8.4 0.6 32 Total 41.5 21.8 63.3 10.7 45.3 7.3 10.2 0.7 32 Note: Marketable reserve tonnes are reported on a moist basis, including a combination of surface and inherent moisture. The combination of surface and inherent moisture is modeled at 10-percent, comparable to Warrior Met’s current product moisture at its operating mines. Actual product moisture is dependent upon multiple geological factors, operational factors, and product contract specifications.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 52 12.3 Qualified Person’s Opinion The estimate of coal reserves was determined in accordance with SEC standards. The LOM mining plan for the Property was prepared to the level of preliminary feasibility. Mine projections were prepared with a timing schedule to match production with coal seam characteristics. Production timing was carried out from current locations to depletion of the coal reserve area. Coal reserve estimates could be materially affected by the risk factors described in Section 22.2. Based on the preliminary feasibility study and the attendant economic review, MM&A believes this is a fair and accurate estimation of Property’s coal reserves. 13 Mining Methods and Mine Plan Design 13.1 Geotechnical and Hydrologic Aspects of Mine Design 13.1.1 Horizontal Stress The orientation and magnitude of horizontal stress in the subject area has not been measured; however, consideration of published data from The World Stress Map Project and industry experience in the general region suggests that the orientation of the principal horizontal stress may be between approximately N50°E and N70°E. No significant horizontal stress issues are known to have been reported at Warrior Met’s Mine No. 4 and Mine No. 7. Future exploration activities may consider conducting horizontal stress-related measurements, potentially via overcoring to determine stress magnitude and direction or by using an Acoustic Televiewer (ATV) downhole geophysical probe to detect principal horizontal stress orientation. 13.1.2 Pillar Design Pillar design for the proposed mine has been evaluated considering design methodology successfully implemented at nearby mines, as well as with modern pillar design software. Deep mining in the subject region commonly implements a yield pillar design (herein referred to as the Wilson Method) as described in Carr and Wilson (1982) and Martin, et al. (1988). In addition, pillar design specific to the subject area is discussed in Park (1989). In addition to assessment via the Wilson Method, the proposed pillar designs were also evaluated using a software package known as Analysis of Coal Pillar Stability (ACPS), which includes a combination of methodologies initially developed as part of the National Institute for Occupational Safety & Health (NIOSH) Ground Control Toolbar. Pillar sizing and design for the proposed mining is consistent with that of Warrior Met’s two active mines that operate locally in similar geologic conditions. The proposed pillar dimensions are expected to be adequate for mine stability under typical mining conditions. Pillar stability assessment should be updated as additional geotechnical information is

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 53 collected for the project. Cut-depth, panel sequencing, face ventilation, and seal locations have not been specifically considered for the current pillar stability assessment. 13.1.3 Hydrogeology Hydrogeologic concerns are expected to be minimal within the majority of the proposed mine area, with the exception of areas near existing faults and overlain by large surface water features (see Section 7.4). Warrior Met currently operates two similar mines in the vicinity, using the same mining methods and in the same coal beds as the proposed mine. These two active mines have reportedly experienced minimal hydrologic concerns or material issues. Mining of the subject reserve is generally projected to occur in areas exhibiting similar hydrogeological conditions as Warrior Met’s active mines, including stream undermining, undermining of aquifers, and mining through hydraulically fractured coalbed methane wells. Based upon the history of the current operations with regards to hydrogeological matters, the proposed operation is not expected to be significantly affected by mine-wide hydrogeologic issues. 13.2 Production Rates Plans summarized in this TRS include a single longwall operation which is supported by continuous mining units. Warrior Met is considering an alternative plan which would include two longwall mining units. The mine plan and productivity expectations reflect historical performance and efforts have been made to adjust the plan to reflect future conditions. MM&A is confident that the mine plan is reasonably representative to provide an accurate estimation of coal reserves. Mine development and operation have not been optimized within the TRS. Rather, the plan is developed at the Pre-Feasibility level to gain a realistic estimate of potential operational and capital costs to demonstrate the economic viability of the subject reserves. Productivity for continuous mining sections and longwall units reflect typical rates incurred in the region. At steady state, the mine produces approximately 3.7 million clean tonnes per year. Carlson Mining software was used by MM&A to generate the mine plan for the underground mineable coal seams. The mine plan was sequenced based on productivity schedules provided by Warrior Met, which were based on historically achieved productivity levels. All production forecasting ties assumed production rates to geological models as constructed by MM&A’s team of geologists and mining engineers. 13.3 Mining Related Requirements Although the continuous miner sections are significantly more expensive to operate on a cost-per- tonne basis, they are necessary to open up areas of the mine by developing main entries and gate roads in preparation for the longwall. The LOM plan included in this TRS requires three continuous mining support sections for the majority of the duration of the operation.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 54 13.4 Required Equipment and Personnel The Blue Creek Project will be a sister operation to Warrior Met’s active operations, Mine No. 7 and Mine No. 4. The longwall shearing machines are used for extraction of coal at the production face. A chain conveyor is used to remove coal from the longwall face for discharge onto the conveyor belt which then ultimately delivers it to the skip system. Development for the longwalls is conducted by the extraction of coal from the production faces using continuous miners and haulage using shuttle cars to a feeder-breaker located at the tail of the section conveyor belt. The feeder-breaker crushes large pieces of coal and rock and regulates coal feed onto the mine conveyor. Roof-bolting machines are used to support the roof on the development sections of the longwall mine and battery scoops are available to clean the mine entries and assist in delivery of mine supplies to work areas. Other supplemental equipment such as personnel carriers, supply vehicles, etc., are also used daily. Mine conveyors typically range in width up to 6 feet. Multiple belt flights are arranged in series to deliver raw coal to the underground storage. Along the main and sub-main entries and panels, a travel way is provided for personnel and materials by rubber-tired equipment or on rail. The haulage slope conveyor will be used to transport ROM coal to the surface where the coal may be sampled, crushed and washed in the preparation plant and stockpiled to await shipment. Surface ventilation fans are installed as needed to provide a sufficient volume of air to ventilate production sections, coal haulage and transport entries, battery charging stations, and transformers in accordance with approved plans. High-voltage cables deliver power throughout the mine where transformers reduce voltage for specific equipment requirements. The Mine Improvement and New Emergency Response Act of 2006 (MINER Act) requires that carbon monoxide detection systems be installed along mine conveyor belts and that electronic two-way tracking and communications systems be installed throughout the underground mine. Water is required to control dust at production sections and along conveyor belts, and to cool electric motors. Water is available from nearby sources and is distributed within the mine by pipelines as required. At steady state, the mine is projected to employ approximately 375 employees. 14 Processing and Recovery Methods 14.1 Description or Flowsheet A new coal processing is being designed to handle the run-of-mine coal from proposed longwall operation. Current plans call for a processing plant with a capacity of 1,800 tons per hour (1,620 metric tonne per hour). Following initial sizing of the material, the coarse coal (2-inch by 1-mm) is to be cleaned using a dense media cyclone (DMC) with the overflow from the DMC being dried via clean coal centrifuges. The undersize material (sub 1-mm) will be divided at 100-mesh via classifying cyclones. The underflow material from the cyclones (greater than 100-mesh) is processed by either triple start compound spirals,

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 55 reflux classifiers, or fines dense media technology. The overflow stream from the classifying cyclones (smaller than 100-mesh) is to be treated using stack cell flotation technology. The flotation circuit will use a rougher-scavenger configuration, where the tailings from the first flotation unit are reprocessed by the following unit. The cleaned coal from the flotation and spiral units will be combined and dewatered using a screen bowl centrifuge (SBC). The underflow stream from the coarse dense media circuit and the reject material from the spirals are combined and treated as coarse refuse. The tailings stream from the flotation cells and various effluent circuits are combined and fed to a thickener. The thickener underflow is then pumped to an impoundment or combined with coarse refuse for long-term storage. 15 Infrastructure 15.1 Mine Ventilation The subject coal reserves will be accessed via a combination of vertical shafts and a slope. Ventilation to the Blue Creek mine workings will be provided through multiple shafts, utilizing an exhausting ventilation fan atop the main return shaft to power the airflow. The fresh-air intake shaft will be divided, housing a personnel/supply elevator to service the mine as well as provide intake air. Prior to longwall startup, a dedicated intake shaft will be developed on the initial mains to support longwall ventilation. In conjunction with the longwall mining plan, each longwall district will be ventilated using a dedicated bleeder shaft with its own exhausting fan. Additional main ventilation shafts will be needed as the mainline entries progress further from the slope bottom. 15.2 Methane Methane is not expected to adversely affect mine production and should be managed with attention to sound ventilation practices. Coalbed degasification and methane drainage are very mature practices in the BWB and many of the CBM wells began degasification 20 to 30 years ago. Therefore, it is expected that degasification has been completed to the extent that methane will not represent a significant source of production delays. CBM liberated during mining can create a safety hazard and interrupt production if the concentrations along the working face exceed safe limits. The mine ventilation system has been planned to deliver sufficient volume of air to ensure that the methane concentration in the immediate return of the production sections does not exceed 1 percent. Factors that may affect the concentration and liberation of methane gas during mining include depth of overburden cover, which generally exceeds 1,000 feet in the proposed mine area; geology and structural features such as faults; mine production rates; methane release characteristics of the coal seam; and previous CBM development (vertical and/or horizontal wells).

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 56 15.3 Materials Handling Transport of coal within the mine and to the surface via the planned slope will be done exclusively with belt conveyors. The Blue Creek conveyors are designed to accommodate constant, high volume longwall production. 15.4 Seam Access Access to the proposed mine will be provided by a combination of a slope and shafts. The decline slope will be for conveyor access, in order to transport ROM coal from the mine and multiple shafts will allow for transport of personnel, materials, and equipment as well as serve for ventilation purposes. Details pertaining to engineering design of slopes and shafts are retained in MM&A and Warrior Met’s files. 15.5 Surface Infrastructure 15.5.1 Preparation Plant & Materials Handling Infrastructure The Project includes surface facilities to be constructed at multiple locations in close proximity to the intersection of State Route 69 and Brandon School Road. The map below illustrates the locations of various site infrastructure. MM&A and Warrior Met maintain more detailed mapping and supporting information in their files. Figure 15-1: Approximate Location of Plant and Various Infrastructure

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 57 15.5.2 Clean Coal Transportation This TRS assumes that all clean coal is shipped to market via a barge loadout facility on the Black Warrior River, necessitating the construction an overland conveyor. The conveyor route follows an existing powerline right of way. The final location of the barge loadout has not been determined, and as such, Warrior Met is actively assessing a “wedge” from the termination of the right of way to the Black Warrior River. Preliminary sonar studies have indicated sufficient water depth for barge loadouts along the “wedge”. While still a critical item for project development, the barge facility will be permitted as a non-mining related industrial facility. Additionally, Warrior Met reports that it is considering an alternative transportation method via rail. Rail transportation would require the installation of a significant rail spur to an existing mainline railroad. Although this TRS assumes capital and operating costs associated with an overland conveyor and barge system, Warrior Met is still considering both methods of transportation. 15.5.3 Water Supply The Project’s water system is designed to deliver water to multiple end-use locations across the mine complex and maintain storage capacity in the freshwater impoundment. A freshwater pump in a proximal waterway will provide the majority of water for the operation, including firefighting water, plant make-up water and water for mining needs. Details pertaining to the design are retained in MM&A and Warrior Met’s files. 15.5.3.1 Potable Water Potable water will be needed at several surface locations such as the bathhouse, plant, and mine office. Additionally, potable water is required for emulsion hydraulic system for longwall equipment, preventing algae buildup in the hydraulic system. Public water is available locally through Oakman Water Works, Inc. (Oakman). Public sewer is not available in the area, requiring the construction of a sewage treatment facility to handle the raw sewage prior to discharge. Multiple systems may be required to service the preparation plant and the deep mine. Permitting actions through the Health Department and NPDES may be required. 15.5.4 Power Power for the Project will be sourced from Alabama Power’s 115kV transmission line that lies to the west of the Property. It is anticipated that the final power system will be similar to those employed at Warrior Met’s active operations. Capital associated with power systems has been included in the pre- feasibility level economic analysis.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 58 16 Market Studies 16.1 Market Description Drill hole data was utilized to develop average coal quality characteristics for Project. Detailed metallurgical characteristics are presented in Table 10-4. Yield projections are based upon a 10% dry ash product with sulfur percentages under 1%. All the mine production serves the metallurgical markets. The metallurgical coal could potentially be marketed as a high-volatile A (typically greater than 32 percent and less than 34 percent volatile matter content) product, however due to various other mine and market considerations, the Coal pricing in this PFS is based on Premium Low-Volatile Indices (PLV). 16.2 Price Forecasts Warrior Met provided MM&A with the PLV price forecasts through 2030. Pricing was held constant beyond that date. Warrior Met has recommended utilizing the PLV forecast to determine sales realizations for the Blue Creek Project. To develop the price received FOB the barge or rail car, transportation and loading were backed out of the FOB vessel price. The adjusted pricing is detailed in Table 16-1. Table 16-1: Adjusted Pricing LOM 2022 2023 2024 2025 2026 Price FOB Vessel $184.00 $267.00 $151.00 $152.00 $152.00 $157.00 Transportation $26.63 $0.00 $0.00 $0.00 $26.63 $26.63 Revenue FOB Rail or Barge $157.37 $0.00 $0.00 $0.00 $125.37 $130.37 2027 2028 2029 2030 2031 2032 Price FOB Vessel $173.00 $179.00 $182.00 $185.00 $185.00 $185.00 Transportation $26.63 $26.63 $26.63 $26.63 $26.63 $26.63 Revenue FOB Rail or Barge $146.37 $152.37 $155.37 $158.37 $158.37 $158.37 2033 2034 2035 2036 2037 2038 Price FOB Vessel $185.00 $185.00 $185.00 $185.00 $185.00 $185.00 Transportation $26.63 $26.63 $26.63 $26.63 $26.63 $26.63 Revenue FOB Rail or Barge $158.37 $158.37 $158.37 $158.37 $158.37 $158.37 2039 2040 2041 2042 2043 2044 Price FOB Vessel $185.00 $185.00 $185.00 $185.00 $185.00 $185.00 Transportation $26.63 $26.63 $26.63 $26.63 $26.63 $26.63 Revenue FOB Rail or Barge $158.37 $158.37 $158.37 $158.37 $158.37 $158.37 2045 2046 2047 2048 2049 2050 Price FOB Vessel $185.00 $185.00 $185.00 $185.00 $185.00 $185.00 Transportation $26.63 $26.63 $26.63 $26.63 $26.63 $26.63 Revenue FOB Rail or Barge $158.37 $158.37 $158.37 $158.37 $158.37 $158.37 2051 2052 2053 2054 2055 2056 Price FOB Vessel $185.00 $185.00 $185.00 $185.00 $185.00 $185.00 Transportation $26.63 $26.63 $0.00 $0.00 $0.00 $0.00 Revenue FOB Rail or Barge $158.37 $158.37 $0.00 $0.00 $0.00 $0.00

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 59 16.3 Contract Requirements Some contracts are necessary for successful marketing of the coal. For Blue Creek , since all mining, preparation and marketing is done in-house, the remaining contracts required include: > Transportation – The mine will contract with requisite railroad and barge transportation companies to transport the coal to either the domestic customers or to the Mobile export terminal for overseas shipment. > Handling – Contracts for loading vessels for export sales are necessary. These are typically handled by annual negotiations based on projected shipments. > Sales – Sales contracts are a mix of spot and contract sales. 17 Environmental Studies, Permitting and Plans, and Social and Community Impacts 17.1 Results of Studies The Project represents a greenfield site with minimal completed development work. Aside from baseline analysis pertaining to permitting, MM&A is not aware of existing environmental studies on the Property. MM&A did not undertake a review of permitting violation history for the active permits or an Environmental Site Assessment (ESA) of the properties. The property is located adjacent and proximal to multiple active longwall operations which are subject to the same regulatory environment as the proposed BC mine. 17.2 Requirements and Plans for Waste Disposal 17.2.1 Disposal Methods and Design Concepts Coal refuse from the preparation plant will be disposed on site at several locations over the life of the mine. Fine refuse will be handled in the form of slurry and pumped via pipeline to a slurry impoundment and/or integrated combined coarse/fine refuse facilities. The coarse refuse product will be used to construct the slurry impoundments as needed and will also be disposed of in standalone coarse refuse embankments. Coarse refuse will travel by conveyor belt to a central location and then by truck to its final destination as needed. Bulldozers and other mobile equipment will be used to spread and compact the material for the construction of the disposal structures. In order to minimize the number of slurry impoundments needed over the project life, coarse refuse embankments are planned in conjunction with slurry impoundments. The addition of these structures allows for excess coarse material to be placed outside of the impoundment areas when dam construction is not needed. Coarse refuse embankments are typically more cost effective to construct

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 60 and operate, due to the less stringent construction specifications associated with lower hazard potential. The refuse produced by the plant is expected to generate 4 tonnes of coarse refuse per tonne of fine refuse. Volumetrically, this equates to 2.33 cubic yards of coarse refuse produced to every cubic yard of slurry (on a dry, consolidated, design basis). In all, approximately 15% of the coarse refuse produced will be used in the construction of the impoundment dams, with the remaining 85% being placed in lower cost, less regulated, coarse refuse embankments. Warrior Met reports that it is also considering the option of combined coarse/fine refuse storage should slurry impoundments become prohibitive. 17.2.2 Life-of-Mine Storage Requirements For the life of the Project, it is estimated that the plant will generate 21,000 ac-ft of fine refuse and 79 million cubic yards of coarse refuse. These figures were derived from the MM&A’s production model using a coarse to fine ratio and refuse densities provided by Warrior Met. Such figures were reviewed by MM&A and deemed appropriate. These characteristics are also typical of Warrior Met’s active facilities that are mining and processing similar material as that expected at the Project. For refuse planning, the assumed ratio of coarse to fine refuse is 4 to 1 by weight and dry, compacted densities are 110 pounds per cubic foot (coarse refuse) and 64 pounds per cubic foot (fine refuse). At full production, the Project is expected to generate an average of 1.7 million cubic yards of coarse refuse and 450 acre-ft of slurry annually. 17.2.3 Storage Areas Warrior Met has identified 4 slurry impoundment sites and 2 separate coarse refuse sites for refuse disposal. MM&A has confirmed storage volumes for these sites. Total storage estimated within these areas is roughly 13,550 ac-ft for slurry and about 59-million cubic yards for coarse refuse. This represents approximately 31 years of slurry and 35 years of coarse refuse storage, or over half of the LOM needs of the Project. Preliminary design for these sites appears to be reasonable and it is expected that permit approvals can be obtained for these locations. More detailed design work will be needed, however general layouts and expected capacities should not result in significant change. Warrior Met reports that it is also considering integrated coarse/fine refuse storage. 17.2.4 Control of Proposed Storage Areas Warrior Met currently controls the surface property needed for three of the proposed refuse disposal areas and is in the process of permitting two of the sites. The areas currently controlled by Warrior Met for refuse disposal consist of two slurry impoundment sites and one coarse refuse site. An estimated 13 years of storage for both fine and coarse refuse is contained on these controlled sites. Warrior Met does control a majority of the surface property for the other sites as well. Property control for the remaining impoundment areas ranges from 60 to 80-percent. Timely property acquisitions will

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 61 need to be made to utilize these planned sites. MM&A has no reason to believe that that the remaining surface properties will not be acquired. 17.2.5 Refuse Permitting Currently, the initial refuse impoundment areas are not fully permitted for use. Permitting actions are currently underway for the initial slurry impoundment and coarse refuse area. These areas under permitting action will allow for 11 years and 4 years of coarse refuse and slurry storage respectively. It is reasonable to anticipate that these timeframes would be reduced if Warrior Met opts to utilize combined coarse/fine refuse storage. Permits and approval from several State and Federal agencies are required for operation. These Include: > United States Army Corps. Of Engineers: 404 Permit (for disturbing stream beds with fill material) > Alabama Surface Mining Commission: Article 3 environmental permit. > Mine Safety and Health Administration: Technical review for design and construction issues pertaining to slurry impoundments and coarse refuse embankments. Permitting of these facilities, slurry impoundments in particular, can be a difficult and time-consuming process, sometimes taking upwards of three or more years for regulatory review and approval. With an expected plant start date of July 2025, it is expected that approval for all required permits can be obtained within this time frame, allowing for any site preparation and preliminary construction needed. Considering the lengthy process of permitting slurry impoundments, considerable attention will be required to ensure that proper lead time is given to develop future impoundment facilities. At this time there are no extraordinary factors known that would impede design and permitting to an unusual extent for any of these areas. Warrior Met and MM&A maintain detailed mapping and supporting information related to refuse storage in their files. 17.3 Permit Requirements and Status Warrior Met (through its predecessor, Walter) has successfully obtained multiple permits for the proposed operations on the Property. Table 17-1 depicts the mine permits which are currently in place from: Alabama Surface Mining Commission (ALSMC); Alabama Department of Environmental Management (ADEM); United States Army Corps of Engineers (USACE); and MSHA. All of the currently approved permits have been renewed as needed and remain in good standing. The existing Surface Mine Control and Reclamation Act (SMCRA) permit will require a minor revision to accommodate revised surface infrastructure plans which have changed since the Project’s inception.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 62 Permits listed in Table 17-1 pertain to the proposed preparation plant and portal facilities. Additional permitting actions will be needed for the development and installation of the slurry Impoundment, coarse refuse facility, overland conveyor and barge loading facility. Table 17-1: Currently Active Permits Permit Agency Date Approved Status SMCRA (875-5007) Blue Creek Energy, Inc. Permit P-3964-63-17-U ALSMC 21-Jun-12 Approved/Issued, Submittal of Minor Revision Pending Blue Creek Energy, Inc. Permit ALSMC 27-Sep-12 Approved/Issued Added Power line and access roads P-3964-63-17-U Revision No. 1 Blue Creek Energy, Inc. Permit ALSMC 22-May-13 Approved/Issued Added power line, conveyor belt system, primary road P-3964-63-17-U Revision No. 2 Blue Creek Energy, Inc. (NPDES) Permit AL0081477 ADEM 1-May-12 Approved / Issued 404 Permit SAM-2011-01645 - CMS USACE 5-Jan-15 Jurisdictional Determination Approved / Issued 404 Permit SAM-2011-01645 - CMS USACE 12-Mar-12 Mitigation Approval 404 Permit SAM-2012-00668 - CMS USACE 21-Jun-12 Power line Approval – No stream impacts proposed. 404 Permit SAM-2012-01537 - CMS USACE 1-Jan-13 Nationwide 14 for overland beltline system associated with Revision No. 2 Additionally, Warrior Met will require permits related the coarse and fine refuse facilities, barge loadout, and overland conveyor. Regulatory agencies which will be involved with such permit activities include the USACE, ALSMC, MSHA and ADEM. The most time-consuming aspect of the required remaining permitting action is associated with the MSHA review of the Slurry Impoundment design. These structures are classified as High-Hazard dams and as such, receive thorough and lengthy technical reviews through MSHA’s Technical Support group in Pittsburg, Pennsylvania. Review approvals for these facilities can be expected to take two to three years. Early submittal is essential to receiving timely approvals for these critical structures. National Pollutant Discharge Elimination System (NDPES) discharge for the impoundment area is covered under the existing state mine permit. While the Coarse Refuse Facility will also require MSHA review and approval, these structures do not have the same complexity in design and can be approved rather quickly. The conveyor from the plant to the barge loading facility will share the ROW of the powerline in its entirety, permitting of the beltline will coincide with the powerline. Permits for the overland conveyor and the Barge Loading Facility pose minimal risk of delay to the Project if pursued diligently. The permitting process will need to begin in the near future to match the required construction timeline for these items. 17.4 Local Plans, Negotiations or Agreements MM&A found no indication of ancillary agreements beyond the scope of Federal or State Regulations.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 63 17.5 Mine Closure Plans Applicable regulations require that mines be properly closed, and reclamation commenced immediately upon abandonment. In general, site reclamation includes removal of structures, backfilling, regrading, and revegetation of disturbed areas. Sediment control is required during the establishment of vegetation, and bond release generally requires a minimum five-year period of site maintenance, water sampling, and sediment control following mine completion and rough grading. For most mines, unless special issues arise, reclamation and monitoring costs continue for about 7 years after cessation of production. Reclamation of underground mines includes closure and sealing of mine openings such as portals and shafts in addition to the items listed above. Estimated costs for mine closure for all the Blue Creek facilities, including water quality monitoring during site reclamation, are included in the financial model. As with all mining companies, an accretion calculation is performed annually so the necessary Asset Retirement Obligations (ARO) can be shown as a liability on the balance sheet. Costs have been included for closure of some existing facilities prior to exhaustion of the mine. As Bleeder shafts are determined to no longer be needed, they are sealed and as refuse disposal areas are filled and replaced, reclamation is done. The costs for this non-ARO reclamation work have been accrued for on a per tonne basis in the model. 17.6 Qualified Person’s Opinion Warrior Met’s environmental and permitting staff is strongly engaged in the project. As it continues to move forward within existing project timelines and schedules, it is anticipated that Warrior Met will remain on target to obtain all necessary permits. Estimated expenditures for site closure and reclamation are included in the financial model for this site. 18 Capital and Operating Costs 18.1 Capital Capital expenditures (CAPEX) are typically reviewed and compared to other projects using three measures: initial investment, LOM capital and LOM capital per ton (or tonne) of production. The initial investment for this project is defined as the capital necessary until the mine reaches full production. With the longwall starting in early 2027, CAPEX for the Project (current through 2027) as shown in Figure 18-1 totals $623.7 million.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 64 Figure 18-1: Initial Investment Capital ($000) Note: Capital figures are based upon MM&A’s best estimates and are supported by a combination of MM&A’s experience in comparable projects & comparable quotations. Such level is sufficient to meet the criteria of a pre-feasibility level financial assessment. LOM CAPEX totals $1.48 billion, inclusive of sustaining and replacement items. Underground mine capital is projected to include the purchase and rebuild of major equipment for both the continuous miner sections and the longwall. Major development capital items include the slope, shafts, bottom development, future air and access shafts, bleeder shafts and other purchases necessary to sustain production. A new 1,800 TPH (1,600 tonnes per hour) preparation plant, an overland conveyor, and barge loadout have also been included in the CAPEX. All equipment and infrastructure are assumed to be purchased new for this project. For the purpose of calculating tax liability, it is necessary to forecast Depreciation. Development Capital is assumed to have an average depreciable life of 8 years beginning once the mine starts production. Sustaining Capital has been assumed to have an average depreciable life of 5 years, beginning at purchase. For the life of the mine, the CAPEX Expenditures average to $15.55 per marketed tonne which is reasonable for a project of this magnitude. 18.2 Operating Cost MM&A used a combination of historical information from Warrior Met’s nearby existing operations and detailed operating cost estimates from a recent study of a property in the region. Hourly labor rates and salaries were based upon regional information and expectations. Fringe-benefit costs were developed for vacation and holidays, federal and state unemployment insurance, retirement, workers’

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 65 compensation and pneumoconiosis, casualty and life insurance, healthcare, and bonuses. A cost factor for mine supplies was developed that relates expenditures to mine advance rates for roof-control costs. Other mine-supply costs are typically related to factors such as feet of section advance, ROM tonnes mined, and days worked. Other factors were developed for maintenance and repair costs, rentals, mine power, outside services and other direct mining costs. Operating costs factors were also developed for the coal preparation plant processing, refuse handling, coal loading, property taxes, and insurance and bonding. Appropriate royalty rates were assigned for production from leased coal lands, and sales related taxes were calculated for state severance taxes, the federal black lung excise tax, and federal and state reclamation fees. Mandated sales related costs such as black lung excise tax are summarized in Table 18-1. Table 18-1: Estimated Coal Production Taxes and Sales Costs Description of Tax or Sales Cost Basis of Assessment Cost Federal Black Lung Excise Tax - Underground Per Tonne $1.21 Federal Reclamation Fees – Underground Per Tonne (Moisture Adjusted) $0.123 Alabama Severance Tax Per Tonne (Moisture Adjusted) $0.344 Royalties Percentage of Revenue (FOB Mine) 8% Note: 1. Federal black lung excise tax is paid only on coal sold domestically. MM&A assumed 15% of total coal sales to be domestic in the economic analysis discussed below. A summary of the projected operating costs is in Figure 18-2. Figure 18-2: OPEX *The LOM model and associated economic analysis is intended to prove the economic viability of the subject coal tonnage, allowing controlled tons to be classified as “reserve”. The development of costs incorporates a combination of Warrior Met’s historical performance and MM&A’s knowledge of mine productivity and cost structures for comparable operations.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 66 19 Economic Analysis 19.1 Assumptions, Parameters and Methods A pre-feasibility LOM plan was prepared by MM&A for the Blue Creek operation. MM&A prepared mine projections and production timing forecasts based on coal seam characteristics. Production timing was carried out to depletion (exhaustion) of the coal reserve areas, which is projected for the year 2052. All costs and prices are based on 2022 constant United States real dollars. The mine plan, productivity expectations and cost estimates generally reflect historical performance by Warrior Met and efforts have been made to adjust plans and costs to reflect conditions at Blue Creek. MM&A is confident that the mine plan and financial model are reasonably representative to provide an accurate estimation of coal reserves. A capital forecast was developed by MM&A for mine development, infrastructure, and on-going capital requirements for the life of the mine. Staffing levels were prepared, and operating costs estimated by MM&A. MM&A utilized historical cost data provided by Warrior Met and its own knowledge and experience to estimate direct and indirect operating costs. The preliminary feasibility financial model, prepared for this TRS, was developed to test the economic viability of the coal reserve areas. The results of this financial model are not intended to represent a bankable feasibility study, required for financing of any current or future mining operations, but are intended to prove the economic viability of the estimated coal reserves. All costs and prices are based on 2022 constant United States dollars. On an unlevered basis, the NPV of the real cash flows after taxes was estimated for the purpose of classifying coal reserves. The cash flows, excluding debt service, are calculated by subtracting direct and indirect operating expenses and capital expenditures from revenue. Direct costs include labor, operating supplies, maintenance and repairs, facilities costs for materials handling, coal preparation, refuse disposal, coal loading, sampling and analysis services, reclamation, and general and administrative costs. Indirect costs include statutory and legally agreed upon fees related to direct extraction of the mineral. The indirect costs are the federal black lung tax, federal reclamation taxes, property taxes, local transportation prior to delivery at rail or barge loading sites, coal production royalties, sales and use taxes, income taxes and State severance taxes. Warrior Met’s historical costs provided a useful reference for MM&A’s cost estimates. Sales revenue is based on the metallurgical coal price information provided to MM&A by Warrior Met, based on the PLV forecast. Projected debt service is excluded from the P&L and cash flow model to determine enterprise value.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 67 The financial model expresses coal sales prices, operating costs, and capital expenditures in current day dollars without adjustment for inflation. Capital expenditures and reclamation costs are included based on estimates for the mine by year. Warrior Met will pay royalties for the various current and projected operations. The royalty rates vary by mining method and location. The average royalty rate for Blue Creek is estimated to be 8.0% of the sales revenue FOB the mine after deduction of all transportation and loading costs between the mine and the vessel. The projection model also includes consolidated income tax calculations at the Warrior Met level, incorporating federal and state income taxes with an overall effective rate of 19%. To the extent the mine generates net operating losses for tax purposes, the losses are assumed to offset other corporate taxable income. The term “cash flows” is used in this report refers to after tax cash flows. Consolidated cash flows are driven by annual sales tonnage, which starts at 3.2 million tonnes in 2027, the first year of longwall production and averages 3.7 million tonnes per year from 2027 to 2051 the final full year of production. Projected consolidated revenue averages approximately $589.8 million per year during the period 2027 to 2051. Revenue totals $14.9 billion for the property’s life. Consolidated cash flow from the operation is positive throughout the projected operating period, with the exception of mine development years 2022 through 2026 and the post-production years, due to end-of-mine reclamation spending. Consolidated cash flow from the operation averages approximately $331.8 million per year from 2027 to 2051 and totals $8.3 billion over the mine life. Capital expenditures total $1.5 billion over the property’s life. 19.2 Results The pre-feasibility financial model, prepared by MM&A for this TRS, was developed to test the economic viability of each coal resource area. The results of this financial model are not intended to represent a bankable feasibility study, as may be required for financing of any current or future mining operations contemplated but are intended to prove the economic viability of the estimated coal reserves. Optimization of the LOM plan was outside the scope of the engagement. Table 19-1 shows LOM tonnage, P&L, and EBITDA for Blue Creek. Table 19-1: Life-of-Mine Tonnage, P&L before Tax, and EBITDA Tonnes (000) Pre-Tax P&L ($000) P&L per Tonne EBITDA ($000) EBITDA per Tonne Blue Creek 94,969 $8,527,427 $89.79 $9,962,324 $104.90 Note 1: The LOM model includes a portion of tonnage contained within adverse tracts which are not included in reserve estimates. Note 2: The LOM model and associated economic analysis is intended to prove the economic viability of the subject coal tonnage, allowing controlled tons to be classified as “reserve”. The exercise should not be construed to represent a valuation of Warrior Met’s holdings. Long term cash flows incorporate forward looking market projections which are expected to vary over time based upon historic volatility of coal markets. The development of costs incorporates a combination of Warrior Met’s historical performance and MM&A’s knowledge of mine productivity and cost structures for comparable operations.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 68 As shown in Table 19-1, Blue Creek has positive EBITDA over the LOM. Overall, the operation shows positive LOM P&L and EBITDA of $8.5 billion and $10.0 billion, respectively. Warrior Met’s Blue Creek annual production and revenue are shown in Figure 19-1 and the Mine’s after-tax cash flow summary in constant dollars, excluding debt service, is shown in Figure 19-2 below. Figure 19-1: Blue Creek Production and Revenue Note 1: The LOM model includes a portion of tonnage contained within adverse tracts which are not included in reserve estimates. Note 2: The LOM model and associated economic analysis is intended to prove the economic viability of the subject coal tonnage, allowing controlled tons to be classified as “reserve”. The exercise should not be construed to represent a valuation of Warrior Met’s holdings. Long term cash flows incorporate forward looking market projections which are expected to vary over time based upon historic volatility of coal markets. The development of costs incorporates a combination of Warrior Met’s historical performance and MM&A’s knowledge of mine productivity and cost structures for comparable operations.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 69 Figure 19-2: After-tax Cash Flow Summary (000) Note 1: The LOM model includes a portion of tonnage contained within adverse tracts which are not included in reserve estimates. Note 2: The LOM model and associated economic analysis is intended to prove the economic viability of the subject coal tonnage, allowing controlled tons to be classified as “reserve”. The exercise should not be construed to represent a valuation of Warrior Met’s holdings. Long term cash flows incorporate forward looking market projections which are expected to vary over time based upon historic volatility of coal markets. The development of costs incorporates a combination of Warrior Met’s historical performance and MM&A’s knowledge of mine productivity and cost structures for comparable operations. 19.3 Sensitivity Sensitivity of the NPV results to changes in the key drivers is presented in the chart below. The sensitivity study shows the NPV at the 9% discount rate when base case sales prices, operating costs, and capital costs are increased and decreased within a +/- 10% range.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 70 Figure 19-3: Sensitivity of NPV 19.4 Economic Analysis Summary This TRS, conducted in accordance with industry standards, is sufficient to conclude the Property has reasonable potential of obtaining long-term shareholder value given forecast market conditions approaching those used in the analysis. The plan appears to be reasonable, complete, and capable of being executed under competent management. 20 Adjacent Properties 20.1 Information used No Proprietary information associated with neighboring properties was used as part of this study. 21 Other Relevant Data and Information MM&A has performed various technical studies of the Property over the past decade. MM&A utilized this former work as the basis of an updated study which meets those standards set forth by the SEC. Additionally, MM&A has a longstanding history of various geological and mining based studies in the Black Warrior Basin, with specific projects conducted for Warrior Met in several operations adjacent to

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 71 the Property during due diligence activities. This experience was utilized in the development of this TRS. 22 Interpretation and Conclusions 22.1 Conclusion Sufficient data have been obtained through various exploration and sampling programs and mining operations to support the geological interpretations of seam structure and thickness for coal horizons situated on the Property. The data are of sufficient quantity and reliability to reasonably support the coal resource and coal reserve estimates in this TRS. The geological data and TRS, which consider mining plans, revenue, and operating and capital cost estimates are sufficient to support the classification of coal reserves provided herein. This geologic evaluation conducted conjunction with the feasibility study is sufficient to conclude that Warrior Met currently controls 63.3 million tonnes of marketable underground coal reserves identified on the Property. The LOM model includes 94.9 million tonnes, a portion of which are currently classified as mineral adverse and must be obtained to successfully engage in the venture. 22.2 Project Risk Assessment The MM&A projected team identified project risks for operational, technical and administrative subjects related to the development of the Blue Creek Project. A risk matrix has been constructed to present the risk levels for all the risk factors identified and quantified in the risk assessment process. The risk matrix and risk assessment process are modelled to the standards presented in the Australian and New Zealand Standard on Risk Management (AS/NZS 4360). The purpose of the risk assessment presented herein is to inform project stakeholders of key aspects of the Project that can be impacted by events, the consequences of which could affect the success of the venture. The significance of an impacted aspect of the operation is directly related to both the probability of occurrence and the severity of the consequences. The initial risk for a risk factor is herein defined as the risk level after the potential impact of the risk factor is addressed by competent and prudent management utilizing control measures readily available. Residual risk for a risk factor is herein defined as the risk level following application of special mitigation measures if management determines that the initial risk level is unacceptable. Initial risk and residual risk can be quantified numerically, derived by the product of values assigned to probability and consequence ranging from very low risk to very high risk. Risk aspects identified and evaluated during this assignment total 25. No residual risks are rated Very High; 5 risk aspects are rated High; 10 of the risk aspects are classified as Moderate residual risk, and 10 of the risk aspects were attributed Low and Very Low residual risks.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 72 22.2.1 Assumptions and Limitations Key assumptions in the risk assessment are outlined below. 1. The identification of project risks is not presumed to be exhaustive. Instead, that listing of risks is presented based on the experiences of the project team. 2. The probability and consequence ratings are subjectively assigned and are assumed to reasonably reflect the condition of the projected mine operations. 3. The Control Measures shown in the matrices presented in this chapter are not exhaustive. They represent a condensed collection of activities that the MM&A team has observed to be effective in coal mining scenarios. 4. Mitigation Measures listed for each risk factor of the operation are not exhaustive. The measures listed, however, have been observed to be effective. 5. The monetary values used in ranking the consequences are assumed to be appropriate for projected investment and expected size of the operation. The risk assessment is subject to the limitations of the information currently collected, tested, and interpreted at the effective date of the report. 22.2.2 Methodology The numerical quantities (i.e., risk levels) attributable to either “initial” or “residual” risks are derived by the product of values assigned to probability and consequence ranging from very low risk to very high risk. R = P x C Where: R = Risk Level P = Probability of Occurrence C = Consequence of Occurrence The Probability (P) and Consequence (C) parameters recited in the formula are subjective numerical estimates made by MM&A’s team of practiced mine engineers, geologists and managers. Both P and C are assigned integer values ranging from 1 to 5 for which the value 1 represents the lowest probability and least consequence, and the value 5 represents the highest probability and greatest consequence. The products (R = P x C) which define the Risk Level, are thereafter classified from very low to very high. Risk Level Table Risk Level (R) Very Low (1 to 2) Low (3 to 5) Moderate (6 to 11) High (12 to 19) Very High (20 to 25)

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 73 Very high initial risks are considered to be unacceptable and require corrective action well in advance of project development. In short, measures must be applied to reduce very high initial risks to a tolerable level. After the consideration and application of mitigation factors, the residual risk can be determined. The residual risk provides a basis for the management team to determine if the residual risk level is acceptable or tolerable. If the risk level is determined to be unacceptable, further actions should be considered to reduce the residual risk to acceptable or tolerable levels to provide justification for continuation of the proposed operation. 22.2.3 Development of the Risk Matrix 22.2.3.1 Quantification of Risk Likelihood and Severity of Impact Risks have been identified for the technical, operational, and administrative activities expected to be encountered throughout the development, installation, and operation of the Project. The likelihood of risk occurrence was developed and quantified according to Table 22-1. Table 22-1: Probability Levels of Risks and Corresponding Values Category Probability Level (P) 1 Remote Not likely to occur except in exceptional circumstances. <10% 2 Unlikely Not likely to occur; small in degree. 10 - 30% 3 Possible Capable of occurring. 30 - 60% 4 Likely High chance of occurring in most circumstances. 60 - 90% 5 Almost Certain Event is expected under most circumstances; impossible to avoid. >90% The lowest rated probability of occurrence is assigned the value of 1 and described as remote, with a likelihood of occurrence of less than 10 percent. Increasing values are assigned to each higher probability of occurrence, culminating with the value of 5 assigned to incidents considered to be almost certain to occur. Consequences of each risk were estimated and quantified by MM&A according to the following Table 22-2.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 74 Table 22-2: Consequence Level Table Correlation of Events in Key Elements of the Project Program to Event Severity Category Category Severity of the Event Financial Impact of the Event Unplanned Loss of Production (Impact on Commercial Operations) Events Impacting on the Environment Events Affecting the Program's Social and Community Relations Resultant Regulatory / Sovereign Risk Events Affecting Occupational Health & Safety 1 Insignificant < $1MM ≤ 12 hours Insignificant loss of habitat; no irreversible effects on water, soil and the environment. Occasional nuisance impact on travel. Event recurrence avoided by corrective action through established procedures (Engineering, guarding, training). 2 Minor $1MM to $4MM ≤ 1 day No significant change to species populations; short-term reversible perturbation to ecosystem function. Persistent nuisance impact on travel. Transient adverse media coverage. First aid – lost time. Event recurrence avoided by corrective action thought established procedures. 3 Moderate $4MM to $10MM ≤ 1 week Appreciable change to species population; medium-term (≤10 years) detriment to ecosystem function. Measurable impact on travel and water/air quality. Significant adverse media coverage / transient public outrage. Uncertainty securing or retaining essential approval / license. Medical Treatment – permanent incapacitation Avoiding event recurrence requires modification to established corrective action procedures. Change to regulations (tax; bonds; standards). 4 Major $10MM to $20MM 1 to 2 weeks Change to species population threatening viability; long-term (>10 years) detriment to ecosystem function. Long-term, serious impact on travel and use of water resources; degradation of air quality; sustained and effective public opposition. Suspension / long-delay in securing essential approval / license. Fatality. Avoiding event recurrence requires modification to established corrective action procedures and staff retraining. Change to laws (tax; bonds; standards). 5 Critical > $20MM >1 month Species extinction; irreversible damage to ecosystem function. Loss of permits. Withdraw / failure to secure essential approval / license. Multiple fatalities. Avoiding event recurrence requires major overhaul of policies and procedures.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 75 The lowest rated consequence is assigned the value of 1 and is described as Insignificant Consequence parameters include non-reportable safety incidents with zero days lost accidents, no environmental damage, loss of production or systems for less than one week and cost of less than $2-million. Increasing values are assigned to each higher consequence, culminating with the value of 5 assigned to critical consequences, the parameters of which include multiple-fatality accidents, major environmental damage, and loss of production or systems for longer than six months and cost of greater than $20-million. Composite Risk Matrix R = P x C and Color-Code Convention The risk level, defined as the product of probability of occurrence and consequence, ranges in value from 1 (lowest possible risk) to 25 (maximum risk level). The values are color-coded to facilitate identification of the highest risk aspects. Table 22-3: Risk Matrix P x C = R Consequence (C) Insignificant Minor Moderate Major Critical 1 2 3 4 5 Pr ob ab ili ty L ev el (P ) Remote 1 1 2 3 4 5 Unlikely 2 2 4 6 8 10 Possible 3 3 6 9 12 15 Likely 4 4 8 12 16 20 Almost Certain 5 5 10 15 20 25 22.2.4 Categorization of Risk Levels and Color Code Convention Very high risks are considered to be unacceptable and require corrective action. Risk reduction measures must be applied to reduce very high risks to a tolerable level. 22.2.5 Summary of Residual Risk Ratings Each risk factor is numbered, and a risk level for each is determined by multiplying the assigned probability by the assigned consequence. The risk levels are plotted on a risk matrix, Table 22-4, to provide a composite view of the Warrior Met risk profile. The average risk level is 7.1, which is defined as Moderate.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 76 Table 22-4: Residual Risk Assessment Matrix Co ns eq ue nc e Critical >$50 MM 8,9 Major $10-50MM 14 13 16 6 Moderate $2-10 MM 7 4, 15 1,3 11 Minor $0.5-$2 MM 2 12 5 Low <$0.5 MM 10 <10% 10-30% 30-60% 60-90% >90% Remote Unlikely Possible Likely Almost Certain 22.2.6 Risk Factors A high-level approach is utilized to characterize risk factors that are generally similar across a number of active and proposed mining operations in the region. Risk factors that are unique to a specific operation or are particularly noteworthy are addressed individually. 22.2.6.1 Geological and Coal Resource Coal mining is accompanied by risk that, despite exploration efforts, mining areas will be encountered where geological conditions render extraction of the resource to be uneconomic (such as faulting), or coal quality characteristics that may disqualify the product for sale into target markets. Offsetting the geological and coal resource risk are the massive size of the controlled property which allows large areas to be mined in the preferred mine areas sufficiently away from areas where coal quality and/or mineability may be less favorable. This flexibility, combined with the extensive work done to define the reserve, reduces the risk at BC below that of other mine properties.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 77 Table 22-5: Geological and Coal Resource Risk Assessment (Risks 1 and 2) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Recoverable coal tonnes recognized to be significantly less than previously estimated, including impacts of faulting. Impacts of faulting & associated geotechnical & hydrogeological result in project delays and operational challenges, including decreased productivity. Reserve base is adequate to serve market commitments and respond to opportunities for many years. Local adverse conditions may increase frequency and cost of production unit relocations. Potential cost overruns and project delays. Reduced productivity on CM and LW sections; increased roof control cost on CM sections and LW gateroads; Previous and ongoing exploration and extensive regional mining history provide a high level of confidence of coal seam correlation, continuity of the coal seams, and coal resource tonnes. Attempt to locate coal barriers and mains away from areas exhibiting poor mineabilty; conduct hazard mapping and training to reduce accident risk; conduct ongoing exploration to locate problem areas in ample time to allow adjustment to mine plan 4 4 16 Optimize mine plan to increase resource recovery; develop mine plan to provide readily available alternate mining locations to sustain expected production level. Continue to conduct significant drilling ahead of mining and project infrastructure installation. Assess geomechanical characteristics of roof and floor ahead of mine development, shaft & slope installation. 3 3 9 Coal quality locally proves to be lower than initially projected. If uncontrolled, production and sale of coal that is out of specification can result in rejection of deliveries, cancellation of coal sales agreements and damage to reputation. Exploration and vast experience and history in local coal seams provide confidence in coal quality; limited excursions can be managed with careful product segregation and blending. 2 3 6 Develop mine plan to provide readily available alternate mining locations to sustain expected production level; modify coal sales agreements to reflect coal quality. 1 2 2 22.2.6.1 Environmental Water quality and other permit requirements are subject to modification and such changes could have a material impact on the capability of the operator to meet modified standards or to receive new permits and modifications to existing permits. Permit protests may result in delays or denials to permit applications. Environmental standards and permit requirements have evolved significantly over the past 50 years and to-date, mining operators and regulatory bodies have been able to adapt successfully to evolving environmental requirements.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 78 Table 22-6: Environmental (Risks 3 and 4) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Environmental performance standards are modified in the future. Delays in receiving new permits and modifications to existing permits; cost of testing and treatment of water and soils Work with regulatory agencies to understand and influence final standards; implement testing, treatment and other actions to comply with new standards. 3 4 12 Modify mining and reclamation plans to improve compliance with new standards while reducing cost of compliance. 3 3 9 New permits and permit modifications are increasingly delayed or denied. Interruption of production and delayed implementation of replacement production from new mining areas. Comply quickly with testing, treatment and other actions required; continue excellent compliance performance within existing permits. 2 4 8 Establish and maintain close and constructive working relationships with regulatory agencies, local communities and community action groups. Prepare and submit permits well in advance of needs. Conduct additional drilling to lower risk associated with quality concerns in suspect areas. 2 3 6 22.2.6.2 Regulatory Requirements Federal and state health and safety regulatory agencies occasionally amend mine laws and regulations. The impact is industry wide. Mining operators and regulatory agencies have been able to adapt successfully to evolving health and safety requirements. Table 22-7: Regulatory Requirements (Risk 5) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Federal and state mine safety and health regulatory agencies amend mine laws and regulations. Cost of training, materials, supplies and equipment; modification of mine examination and production procedures; modification of mining plans. Participate in hearings and workshops when possible to facilitate understanding and implementation; work cooperatively with agencies and employees to facilitate implementation of new laws and regulations. 4 3 12 Familiarity and experience with new laws and regulations results in reduced impact to operations and productivity and improved supplies and equipment options. 4 2 8 22.2.6.3 Market and Transportation Most of the current and future production is expected to be directed to domestic and international metallurgical markets. Historically the metallurgical markets have been cyclical and highly volatile.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 79 Table 22-8: Market (Risk 6) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Volatile coal prices drop precipitously. Loss of revenue adversely affects profitability; reduced cash flow may disrupt capital expenditures plan. Cost control measures implemented; capital spending deferred. 4 5 20 High-cost operations closed, and employees temporarily furloughed. 4 4 16 Occasional delay or interruption of rail, river and terminals service may be expected. The operator can possibly minimize the impact of delays by being a preferred customer by fulfilling shipment obligations promptly and maintaining close working relationships. Multiple shipment means (rail and barge) helps minimize this risk. Table 22-9: Transportation (Risk 7) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Rail or river transport is delayed; storage and shipping access at river and ocean terminals is not available. Fulfillment of coal sales agreements delayed; limited coal storage at mines may increase cost of rehandling; production may be temporarily idled. Provide adequate storage capacity at mines; coordinate continuously with railroad and shipping companies to respond quickly and effectively to changing circumstances. 2 3 6 Provide back-up storage facility along with personnel, equipment and rehandle plan to sustain production and fulfill sales obligations timely. 1 3 3 22.2.6.4 Mining Plan Occupational health and safety risks are inherent in mining operations. Comprehensive training and retraining programs, internal safety audits and examinations, regular mine inspections, safety meetings, along with support of trained fire brigades and mine-rescue teams are among activities that greatly reduce accident risks. Employee health-monitoring programs coupled with dust and noise monitoring and abatement reduce health risks to miners. As underground mines are developed and extended, observation of geological, hydrogeological and geotechnical conditions lead to modification of mine plans and procedures to enable safe work within the mine environment. Highlighted below are selected examples of safety and external factors relevant to Warrior Met operations. 22.2.6.4.1 Methane Management Coalbed methane is present in coal operations below drainage. Often the methane concentration in shallow coal seams is at such low levels that it can be readily managed with frequent testing and

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 80 monitoring, vigilance, and routine mine ventilation. Very high methane concentrations may be present at greater depths, as experienced in the Mary Lee and Blue Creek seams at the BC Property in Alabama. High methane concentrations may require degasification of the coal seams to assure safe mining. Proximal mines have operated safely for many years in one of the most intense methane environments in the United States through careful management of coal seam degasification, gob degasification and mine-ventilation procedures. Table 22-10: Methane Management (Risk 8) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Methane hazard is present in mines operating below drainage. Injury or loss of life; possible ignition of gas and mine explosion; potential loss of mine and equipment temporarily or permanently; additional mine fan, mine power, ventilation, monitoring and examination requirements. Low to moderate levels can be managed with frequent examinations, testing and monitoring within the mine ventilation system. Excellent rock dust maintenance minimizes explosion propagation risk should an ignition occur. 2 5 10 Very high-level methane concentrations may require coal seam degasification and gob degasification if longwall or pillar extraction methods are employed. 1 5 5 22.2.6.4.2 Mine Fires Mine fires, once common at mine operations, are rare today. Most active coal miners have not encountered a mine fire. Vastly improved mine power and equipment electrical systems, along with safe mine practices, reduce mine fire risks. Crew training and fire brigade support and training improve response for containment and control if a fire occurs. Spontaneous combustion within coal mines, which is the source of most fires that occur today, is not expected to occur at BC. Table 22-11: Mine Fires (Risk 9) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Mine fire at underground or operation. Injury or loss of life; potential loss of mine temporarily or permanently; damage to equipment and mine infrastructure. Inspection and maintenance of mine power, equipment and mine infrastructure; good housekeeping; frequent examination of conveyor belt entries; prompt removal of accumulations of combustible materials. 1 5 5 If spontaneous combustion conditions are present, enhanced monitoring and examination procedures will be implemented; mine design will incorporate features to facilitate isolation, containment and extinguishment of spontaneous combustion locations. 1 5 5

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 81 22.2.6.4.3 Availability of Supplies and Equipment The industry has periodically experienced difficulty receiving timely delivery of mine supplies and equipment. Availability issues often accompanied boom periods for coal demand. Any future delivery of supplies and equipment delays are expected to be temporary with limited impact on production. Table 22-12: Availability of Supplies and Equipment (Risk 10) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Disruption of availability for supplies and equipment. Temporary interruption of production. Force majeure provision in coal sales agreements to limit liability for delayed or lost sales. 3 2 6 Work closely with customers to assure delayed coal delivery rather than cancelled sales; monitor external conditions and increase inventory of critical supplies; accelerate delivery of equipment when possible. 3 1 3 22.2.6.4.4 Labor Work stoppage due to labor protests are considered unlikely and are accompanied by limited impact should it occur. Excellent employee relations and communications limit the exposure to outside protesters. Loss of supervisors and skilled employees to retirement is inevitable; the impact can be lessened with succession planning and training and training and mentorship of new employees. Table 22-13: Labor – Work Stoppage (Risk 11) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Work stoppage due to strikes, slowdowns or secondary boycott activity. Loss of production and coal sales; damaged customer and employee relations; reputation loss. Maintain excellent employee relations and communications; maintain frequent customer communications. Train salary employees for hourly tasks in case of long-term strike. 4 4 16 Develop plan for employee communications and legal support to minimize impact of secondary boycott activities. 4 3 12

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 82 Table 22-14: Labor – Retirement (Risk 12) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Retirement of supervisors and skilled employees. Loss of leadership and critical skills to sustain high levels of safety, maintenance and productivity. Monitor demographics closely and maintain communications with employees who are approaching retirement age; maintain employee selection and training programs. 3 3 9 Maintain selection of candidates and implementation of in- house or third-party training for electricians and mechanics; develop employee mentoring program. 3 2 6 22.2.6.4.5 Project Execution Surface facilities construction commenced via a previous owner of the Property and permitting/engineering activity is actively underway by Warrior Met. The experienced and highly qualified executive management team improves the likelihood that the major construction project will be completed within the expected time frame and budget. As construction of the Blue Creek complex continues, the executive management team will be challenged to assemble an experienced and highly competent operations team to execute the mining plan to avoid production short-falls and cost overruns. Key will be establishing a reasonable development schedule and predicating coal sales commitments to management’s ability to select and train its workforce. The experience and capability of the executive team provides confidence that operational readiness will be forthcoming. Risks pertaining to project execution are summarized below. Table 22-15: Construction Delays and Cost Overruns (Risk 13) No. Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R 21 Project construction phase time and cost exceeds expectations. Excessive cost and time diminish project investment return; additional project financing may be required; coal sales commitments be delayed. Realistic budget and project construction schedule developed; continuous monitoring of cost and time to readily detect performance shortcomings and implement corrective actions; utilization of competent, highly reputable contractors and subcontractors. 3 4 12 Preparation of detailed schedule of each construction component; daily review of progress and issues; weekly coordination with all contractors and implementation of corrective actions if project falls behind schedule. 2 4 8

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 83 Table 22-16: Permitting Delays (Risk 14) No. Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R 22 Permitting delays (SMCRA, ACOE, MSHA, etc.) result in delays of construction and production. Lack of ample time to acquire state and federal permits delay production and require additional working capital. Initiate key permitting requirements immediately, including those related to barge development and refuse impoundments. 2 4 8 Incorporate contingencies into development schedule. 1 4 4 Table 22-17: Select, Isolated Parcels of Uncontrolled Mineral (non-BLM lease) within Mine Plan (Risk 15) No. Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R 10 Select, Isolated Parcels of Uncontrolled Mineral within Mine Plan prohibit execution of mine plan. These parcels are associated with private (non- governmental) entities and individuals. Payment of extortionary terms to secure mining rights; adjustment of mine plan to avoid adverse tracts. Company has secured vast majority of land titles for development and mining of initial panels; continue efforts to secure timely title acquisition; mine plan defers production on adverse tracts to allow time to secure at reasonable cost. 5 2 10 As last resort, pay above-market price to secure mining right or adjust mine plan to avoid adverse tracts. 2 3 6 Table 22-18: Select, Isolated Parcels of Uncontrolled Mineral (BLM lease) within Mine Plan (Risk 16) No. Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R 11 Select, Isolated Parcels of Uncontrolled Mineral within Mine Plan prohibit execution of mine plan. These parcels are affiliated with Federal Bureau of Land Management (BLM) leases. Adjustment of mine plan to avoid adverse tracts. Of important note, various presidential candidates have stated desire to limit leasing of federally owned mineral rights in an effort to reduce fossil fuel and natural resource production. Company is actively pursuing BLM leases. Such activity should be prioritized to ensure that ample time to secure leases is available. 3 5 15 Develop mine plan to eliminate requirement for BLM leases as last resort. 3 4 12

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 84 23 Recommendations Warrior Met is continuing to conduct ongoing geological campaigns to better define coal thickness and structure within the initial mine plan areas. As part of this campaign, significant efforts are being placed in defining fault networks proximal to the slope bottom and initial longwall districts. MM&A recommends continuing efforts in this regard. During this campaign, MM&A also recommends analyzing roof and floor samples for various geomechanically factors. MM&A recommends expediting the BLM lease acquisition process, as multiple key leases need to be obtained to execute the mine plan. 24 References 1. Various sources of geological information, including a digital exploration database, coal quality laboratory information, drillers’ and geologists’ logs, and geophysical logs. 2. Various engineering, permitting and mine plans as presented to MM&A by Warrior Met. 3. Various previous engineering and reserve reports conducted on behalf of Warrior Met by MM&A. 4. Publicly available information from various State and Federal agencies 5. Various mapping information obtained via the public domain. 25 Reliance on Information Provided by Registrant For the purpose of this TRS, MM&A utilized the Geological and Coal Quality data provided by Warrior Met. This information was subjected to verification of its integrity and completeness. Historical productivity and operating costs were also supplied by Warrior Met. This information was combined with the experience and knowledge of the QP’s to forecast the LOM plan. Warrior Met supplied a long-term price forecast based on published benchmark pricing. This benchmark pricing was adjusted by Warrior Met to reflect the effects of quality and transportation borne after FOB plant costs were calculated. A summary of the information provided by Warrior Met relied upon by MM&A for the purposes of this TRS is provided in Table 25-1.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 85 Table 25-1: Information from Registrant Relied Upon by MM&A Category Information Provided by Warrior Met Report Section Legal Mineral control and surface control rights as shown on maps 3.2, 3.3 Geological Geologic data including digital databases and original source data including geologist logs, driller’s logs, geophysical logs 9.1 Coal Quality Database of coal quality information supplemented with original source laboratory sheets where available 10.1 Mining Historical productivities and manpower from operating mines 13.2, 13.4 Coal Preparation Flow sheet and other information representing current and future methods of coal processing 14.1 Marketing Long-term price forecast used in financial projections and relevant transportation costs 16.2 Waste Disposal Engineering data and estimates representing remaining capacities for coarse and fine coal waste disposal 17.2 Environmental Permit and bonding information 17.3 Costs Historical and budgetary operating cost information used to derive cost drivers for reserve financial modeling 18.2 Discount Rate 9% Discount Rate for NPV Derivation Provided by Warrior Met 19.1, 19.2, 19.3

APPENDIX A RESERVE TABLE

Warrior Met Coal, LLC Blue Creek Area Underground Mineable Reserves as of December 31, 2021 Appendix A - Table 1 (Metric Tonnes) Moisture 10% Washed recoverable tons shown on 10.0% moisture basis Preparation Plant Efficiency 100% Included in Wash Recovery* Tons/ Wash Resource Thickness Resource Acres In Place Tonnes Clean, Moist, Demonstrated Tonnes Seam Acre-ft. Recovery* Measured Indicated Measured Indicated Total Measured Indicated Total Proven Probable Total BC Area Block A Leased Continuous Mining ML 1,938 84.40% 531,390 290,830 822,220 Longwall Mining ML 1,938 84.40% 3,592,520 1,779,520 5,372,040 Continuous Mining BC 1,851 87.60% 1,646,530 833,760 2,480,290 Longwall Mining BC 1,851 87.60% 11,409,390 5,244,820 16,654,210 Total 3.81 3.56 5,047 2,569 7,616 25,859,140 12,593,900 38,453,040 17,179,830 8,148,930 25,328,760 Owned Continuous Mining ML 1,938 84.40% 45,750 0 45,750 Longwall Mining ML 1,938 84.40% 254,580 0 254,580 Continuous Mining BC 1,851 87.60% 149,460 0 149,460 Longwall Mining BC 1,851 87.60% 879,280 0 879,280 Total 4.19 0.00 396 0 396 2,185,660 0 2,185,660 1,329,070 0 1,329,070 Option Continuous Mining ML 1,938 84.40% 24,740 8,310 33,050 Longwall Mining ML 1,938 84.40% 182,170 35,640 217,810 Continuous Mining BC 1,851 87.60% 78,620 22,390 101,010 Longwall Mining BC 1,851 87.60% 580,990 108,480 689,470 Total 4.18 3.56 272 53 324 1,521,180 258,570 1,779,750 866,520 174,820 1,041,340 Adverse Continuous Mining ML 1,938 84.40% 132,300 244,940 377,240 Longwall Mining ML 1,938 84.40% 1,033,430 1,564,680 2,598,110 Continuous Mining BC 1,851 87.60% 310,860 528,400 839,260 Longwall Mining BC 1,851 87.60% 2,722,980 3,643,610 6,366,590 Total 3.26 2.77 1,217 2,126 3,344 5,678,470 8,791,770 14,470,240 4,199,570 5,981,630 10,181,200 Total Continuous Mining - ML_Only 601,880 299,140 901,020 Longwall Mining - ML_Only 4,029,270 1,815,160 5,844,430 Continuous Mining - BC_Only 1,874,610 856,150 2,730,760 Longwall Mining - BC_Only 12,869,660 5,353,300 18,222,960 Total 5,714 2,622 8,336 29,565,980 12,852,470 42,418,450 19,375,420 8,323,750 27,699,170 Owned 396 0 396 2,185,660 0 2,185,660 1,329,070 0 1,329,070 Leased 5,047 2,569 7,616 25,859,140 12,593,900 38,453,040 17,179,830 8,148,930 25,328,760 Option 272 53 324 1,521,180 258,570 1,779,750 866,520 174,820 1,041,340 Total 5,714 2,622 8,336 29,565,980 12,852,470 42,418,450 19,375,420 8,323,750 27,699,170 1,311 4,168 22,274,300 9,469,240 31,743,540 1,311 4,168 7,291,680 3,383,230 10,674,910 2,857 1,669,860 5.03 2,857 515,800 0 515,800 5.03 0.00 198 0 198 1,669,860 0 1.48 0.00 198 0 198 1.57 1.48 136 26 162 373,930 68,310 442,240 1,337,5104.31 136 26 162 1,147,250 190,260 2,778,790 4,414,460 3.96 3.37 609 1,063 1,672 4,042,800 6,012,980 10,055,780 1.53 1.49 609 1,063 1,672 1,635,670 3,314,920 9,716,870 4.59 4.30 2,523 1,285 3,808 19,457,190 9,278,980 28,736,170 1.44 1.47 2,523 1,285 3,808 6,401,950 WARM118 BCE Table (2022-02-04).xlsx • Metric Tonnes • 2/22/2022 Page 1 of 6

Warrior Met Coal, LLC Blue Creek Area Underground Mineable Reserves as of December 31, 2021 Appendix A - Table 1 (Metric Tonnes) Moisture 10% Washed recoverable tons shown on 10.0% moisture basis Preparation Plant Efficiency 100% Included in Wash Recovery* Tons/ Wash Resource Thickness Resource Acres In Place Tonnes Clean, Moist, Demonstrated Tonnes Seam Acre-ft. Recovery* Measured Indicated Measured Indicated Total Measured Indicated Total Proven Probable Total Block B Leased Continuous Mining ML 1,938 84.40% 182,310 85,320 267,630 Longwall Mining ML 1,938 84.40% 1,270,060 808,170 2,078,230 Continuous Mining BC 1,851 87.60% 413,730 151,650 565,380 Longwall Mining BC 1,851 87.60% 3,006,130 1,518,700 4,524,830 Total 3.55 2.91 1,371 816 2,187 7,163,970 3,746,260 10,910,230 4,872,230 2,563,840 7,436,070 Owned Continuous Mining ML 1,938 84.40% 92,110 24,510 116,620 Longwall Mining ML 1,938 84.40% 141,460 152,370 293,830 Continuous Mining BC 1,851 87.60% 237,010 58,890 295,900 Longwall Mining BC 1,851 87.60% 311,300 368,190 679,490 Total 3.47 3.66 395 208 603 2,002,650 1,108,730 3,111,380 781,880 603,960 1,385,840 Option Continuous Mining ML 1,938 84.40% 87,150 53,470 140,620 Longwall Mining ML 1,938 84.40% 754,980 594,560 1,349,540 Continuous Mining BC 1,851 87.60% 206,600 95,100 301,700 Longwall Mining BC 1,851 87.60% 1,716,730 1,107,230 2,823,960 Total 3.51 2.89 727 546 1,273 3,787,540 2,486,960 6,274,500 2,765,460 1,850,360 4,615,820 Adverse Continuous Mining ML 1,938 84.40% 170,050 73,180 243,230 Longwall Mining ML 1,938 84.40% 1,159,500 488,090 1,647,590 Continuous Mining BC 1,851 87.60% 363,840 132,030 495,870 Longwall Mining BC 1,851 87.60% 2,611,620 1,037,070 3,648,690 Total 3.35 3.19 1,322 537 1,859 6,621,550 2,636,450 9,258,000 4,305,010 1,730,370 6,035,380 Total Continuous Mining - ML_Only 361,570 163,300 524,870 Longwall Mining - ML_Only 2,166,500 1,555,100 3,721,600 Continuous Mining - BC_Only 857,340 305,640 1,162,980 Longwall Mining - BC_Only 5,034,160 2,994,120 8,028,280 Total 2,493 1,570 4,064 12,954,160 7,341,950 20,296,110 8,419,570 5,018,160 13,437,730 Owned 395 208 603 2,002,650 1,108,730 3,111,380 781,880 603,960 1,385,840 Leased 1,371 816 2,187 7,163,970 3,746,260 10,910,230 4,872,230 2,563,840 7,436,070 Option 727 546 1,273 3,787,540 2,486,960 6,274,500 2,765,460 1,850,360 4,615,820 Total 2,493 1,570 4,064 12,954,160 7,341,950 20,296,110 8,419,570 5,018,160 13,437,730 937,210 1,397,980 901,950 3,002,860 1,359,720 3,562,030 198 104 302 604,670 332,540 1.85 1.87 364 273 637 1,180,730 897,470 2,078,200 1.74 776,190 2,174,1704.21 4.44 198 104 302 1,589,490 4,196,3004.27 3.47 364 273 637 2,606,810 1.82 2,589,730 6,577,4401,247 785 2,032 3,987,710 1,247 785 2,032 8,966,450 4,752,220 13,718,670 4.07 3.85 661 268 929 4,520,640 1,734,500 6,255,140 1.81 1.91 661 268 929 2,100,910 4.31 3.48 686 408 1,094 4,961,660 2,386,540 7,348,200 1.83 1.90 686 408 1,094 2,202,310 WARM118 BCE Table (2022-02-04).xlsx • Metric Tonnes • 2/22/2022 Page 2 of 6

Warrior Met Coal, LLC Blue Creek Area Underground Mineable Reserves as of December 31, 2021 Appendix A - Table 1 (Metric Tonnes) Moisture 10% Washed recoverable tons shown on 10.0% moisture basis Preparation Plant Efficiency 100% Included in Wash Recovery* Tons/ Wash Resource Thickness Resource Acres In Place Tonnes Clean, Moist, Demonstrated Tonnes Seam Acre-ft. Recovery* Measured Indicated Measured Indicated Total Measured Indicated Total Proven Probable Total Block C Leased Continuous Mining ML 1,938 84.40% 53,050 167,430 220,480 Longwall Mining ML 1,938 84.40% 438,760 1,415,660 1,854,420 Continuous Mining BC 1,851 87.60% 83,240 242,960 326,200 Longwall Mining BC 1,851 87.60% 682,180 2,164,410 2,846,590 Total 2.72 2.71 428 1,275 1,703 1,890,240 5,688,610 7,578,850 1,257,230 3,990,460 5,247,690 Owned Continuous Mining ML 1,938 84.40% 107,220 5,930 113,150 Longwall Mining ML 1,938 84.40% 341,180 93,020 434,200 Continuous Mining BC 1,851 87.60% 222,210 13,630 235,840 Longwall Mining BC 1,851 87.60% 747,870 207,050 954,920 Total 3.34 3.43 610 89 699 3,084,530 455,740 3,540,270 1,418,480 319,630 1,738,110 Option Continuous Mining ML 1,938 84.40% 85,560 8,640 94,200 Longwall Mining ML 1,938 84.40% 450,400 43,220 493,620 Continuous Mining BC 1,851 87.60% 158,560 14,640 173,200 Longwall Mining BC 1,851 87.60% 830,040 79,030 909,070 Total 3.02 2.71 552 48 600 2,624,010 207,840 2,831,850 1,524,560 145,530 1,670,090 Adverse Continuous Mining ML 1,938 84.40% 210,080 503,690 713,770 Longwall Mining ML 1,938 84.40% 1,017,120 3,333,640 4,350,760 Continuous Mining BC 1,851 87.60% 387,370 693,270 1,080,640 Longwall Mining BC 1,851 87.60% 1,912,910 5,106,090 7,019,000 Total 3.10 2.57 1,265 3,277 4,542 6,127,180 13,933,200 20,060,380 3,527,480 9,636,690 13,164,170 Total Continuous Mining - ML_Only 245,830 182,000 427,830 Longwall Mining - ML_Only 1,230,340 1,551,900 2,782,240 Continuous Mining - BC_Only 464,010 271,230 735,240 Longwall Mining - BC_Only 2,260,090 2,450,490 4,710,580 Total 1,590 1,412 3,002 7,598,780 6,352,190 13,950,970 4,200,270 4,455,620 8,655,890 Owned 610 89 699 3,084,530 455,740 3,540,270 1,418,480 319,630 1,738,110 Leased 428 1,275 1,703 1,890,240 5,688,610 7,578,850 1,257,230 3,990,460 5,247,690 Option 552 48 600 2,624,010 207,840 2,831,850 1,524,560 145,530 1,670,090 Total 1,590 1,412 3,002 7,598,780 6,352,190 13,950,970 4,200,270 4,455,620 8,655,890 1,501 4,905,250 3,816,310 8,721,560 706 1,501 2,386,1704.16 305 45 350 2,075,040 311,130 131,170 1.88 1.85 305 45 350 1,009,490 144,610 1,154,100 3.63 3.24 276 24 300 1,680,250 1.95 1.81 276 24 300 943,760 76,670 1,020,430 4.05 795 5,749,550 7,917,780 2,314,600 3,054,880 1,811,420 2,693,530 2,535,880 5,229,410 795 706 3.73 2.97 633 1,639 2,271 3,958,950 8,183,650 12,142,600 1.95 2.00 633 1,639 2,271 2,168,230 3.20 3.15 214 638 852 1,149,960 3,374,010 4,523,970 1.97 2.06 214 638 852 740,280 WARM118 BCE Table (2022-02-04).xlsx • Metric Tonnes • 2/22/2022 Page 3 of 6

Warrior Met Coal, LLC Blue Creek Area Underground Mineable Reserves as of December 31, 2021 Appendix A - Table 1 (Metric Tonnes) Moisture 10% Washed recoverable tons shown on 10.0% moisture basis Preparation Plant Efficiency 100% Included in Wash Recovery* Tons/ Wash Resource Thickness Resource Acres In Place Tonnes Clean, Moist, Demonstrated Tonnes Seam Acre-ft. Recovery* Measured Indicated Measured Indicated Total Measured Indicated Total Proven Probable Total Block D Leased Continuous Mining ML 1,938 84.40% 180,450 135,620 316,070 Longwall Mining ML 1,938 84.40% 891,080 612,640 1,503,720 Continuous Mining BC 1,851 87.60% 579,920 366,230 946,150 Longwall Mining BC 1,851 87.60% 2,852,470 1,629,800 4,482,270 Total 3.80 3.32 1,954 1,145 3,099 9,913,590 5,291,800 15,205,390 4,503,920 2,744,290 7,248,210 Owned Continuous Mining ML 1,938 84.40% 234,580 34,250 268,830 Longwall Mining ML 1,938 84.40% 1,159,610 302,110 1,461,720 Continuous Mining BC 1,851 87.60% 614,660 87,540 702,200 Longwall Mining BC 1,851 87.60% 3,010,630 807,850 3,818,480 Total 3.47 3.30 1,714 415 2,130 8,453,730 1,968,260 10,421,990 5,019,480 1,231,750 6,251,230 Option Continuous Mining ML 1,938 84.40% 0 0 0 Longwall Mining ML 1,938 84.40% 0 0 0 Continuous Mining BC 1,851 87.60% 0 0 0 Longwall Mining BC 1,851 87.60% 0 0 0 Total 0.00 0.00 0 0 0 0 0 0 0 0 0 Adverse Continuous Mining ML 1,938 84.40% 44,540 125,700 170,240 Longwall Mining ML 1,938 84.40% 274,990 282,460 557,450 Continuous Mining BC 1,851 87.60% 91,820 227,880 319,700 Longwall Mining BC 1,851 87.60% 629,300 619,770 1,249,070 Total 2.98 2.62 325 604 929 1,449,180 2,446,510 3,895,690 1,040,650 1,255,810 2,296,460 Total Continuous Mining - ML_Only 415,030 169,870 584,900 Longwall Mining - ML_Only 2,050,690 914,750 2,965,440 Continuous Mining - BC_Only 1,194,580 453,770 1,648,350 Longwall Mining - BC_Only 5,863,100 2,437,650 8,300,750 Total 3,668 1,560 5,228 18,367,320 7,260,060 25,627,380 9,523,400 3,976,040 13,499,440 Owned 1,714 415 2,130 8,453,730 1,968,260 10,421,990 5,019,480 1,231,750 6,251,230 Leased 1,954 1,145 3,099 9,913,590 5,291,800 15,205,390 4,503,920 2,744,290 7,248,210 Option 0 0 0 0 0 0 0 0 0 Total 3,668 1,560 5,228 18,367,320 7,260,060 25,627,380 9,523,400 3,976,040 13,499,440 18,823,170 1,834 780 2,614 4,804,160 2,000,050 6,804,210 208 1,065 6,064,190 1,301,260 4.21 4.01 1.57 857 208 1,065 2,389,540 1,834 780 2,614 13,563,160 5,260,010 571,360 840,020 0.00 0.00 0 0 0 0 0.00 0.00 0 0 0 0 0 0 1.59 857 2,960,900 0 0 1,396,900 7,461,090 1,428,690 3,843,310 3.62 3.17 163 302 465 987,940 1,606,490 2,594,430 1.61 1.58 163 302 465 461,240 4.57 4.02 977 573 1,549 7,498,970 3,863,110 11,362,080 1.41 1.42 977 573 1,549 2,414,620 WARM118 BCE Table (2022-02-04).xlsx • Metric Tonnes • 2/22/2022 Page 4 of 6

Warrior Met Coal, LLC Blue Creek Area Underground Mineable Reserves as of December 31, 2021 Appendix A - Table 1 (Metric Tonnes) Moisture 10% Washed recoverable tons shown on 10.0% moisture basis Preparation Plant Efficiency 100% Included in Wash Recovery* Tons/ Wash Resource Thickness Resource Acres In Place Tonnes Clean, Moist, Demonstrated Tonnes Seam Acre-ft. Recovery* Measured Indicated Measured Indicated Total Measured Indicated Total Proven Probable Total Block E Leased Continuous Mining ML 1,958 0.00% 0 0 0 Longwall Mining ML 1,958 0.00% 0 0 0 Continuous Mining BC 1,963 0.00% 0 0 0 Longwall Mining BC 1,963 0.00% 0 0 0 Total 0.00 2.24 0 12,322 12,322 0 44,704,640 44,704,640 0 0 0 Owned Continuous Mining ML 1,958 0.00% 0 0 0 Longwall Mining ML 1,958 0.00% 0 0 0 Continuous Mining BC 1,963 0.00% 0 0 0 Longwall Mining BC 1,963 0.00% 0 0 0 Total 0.00 2.11 0 59 59 0 178,700 178,700 0 0 0 Option Continuous Mining ML 1,958 0.00% 0 0 0 Longwall Mining ML 1,958 0.00% 0 0 0 Continuous Mining BC 1,963 0.00% 0 0 0 Longwall Mining BC 1,963 0.00% 0 0 0 Total 0.00 0.00 0 0 0 0 0 0 0 0 0 Adverse Continuous Mining ML 1,958 0.00% 0 0 0 Longwall Mining ML 1,958 0.00% 0 0 0 Continuous Mining BC 1,963 0.00% 0 0 0 Longwall Mining BC 1,963 0.00% 0 0 0 Total 0.00 2.21 0 11,206 11,206 0 38,806,550 38,806,550 0 0 0 Total Continuous Mining - ML_Only 0 0 0 Longwall Mining - ML_Only 0 0 0 Continuous Mining - BC_Only 0 0 0 Longwall Mining - BC_Only 0 0 0 Total 0 12,382 12,382 0 44,883,340 44,883,340 0 0 0 Owned 0 59 59 0 178,700 178,700 0 0 0 Leased 0 12,322 12,322 0 44,704,640 44,704,640 0 0 0 Option 0 0 0 0 0 0 0 0 0 Total 0 12,382 12,382 0 44,883,340 44,883,340 0 0 0 26,588,710 26,588,710 0 6,191 6,191 0 29,542,230 29,542,230 0 6,191 6,191 0 15,341,110 15,341,110 44,910 44,910 0.00 2.53 0 30 30 0 133,790 133,790 0.00 0.85 0 30 30 0 0.00 0.00 0 0 0 0 0 0 0.00 0.00 0 0 0 0 00 0.00 2.66 0 5,603 5,603 0 29,408,440 29,408,440 0.00 1.23 0 5,603 5,603 0 12,217,840 12,217,840 0.00 2.68 0 6,161 6,161 0 0.00 1.40 0 6,161 6,161 0 15,296,200 15,296,200 WARM118 BCE Table (2022-02-04).xlsx • Metric Tonnes • 2/22/2022 Page 5 of 6

Warrior Met Coal, LLC Blue Creek Area Underground Mineable Reserves as of December 31, 2021 Appendix A - Table 1 (Metric Tonnes) Moisture 10% Washed recoverable tons shown on 10.0% moisture basis Preparation Plant Efficiency 100% Included in Wash Recovery* Tons/ Wash Resource Thickness Resource Acres In Place Tonnes Clean, Moist, Demonstrated Tonnes Seam Acre-ft. Recovery* Measured Indicated Measured Indicated Total Measured Indicated Total Proven Probable Total Grand Total (A-D) Continuous Mining - ML_Only 1,624,310 814,310 2,438,620 Longwall Mining - ML_Only 9,476,800 5,836,910 15,313,710 Continuous Mining - BC_Only 4,390,540 1,886,790 6,277,330 Longwall Mining - BC_Only 26,027,010 13,235,560 39,262,570 Total 13,465 7,165 20,630 68,486,240 33,806,670 102,292,910 41,518,660 21,773,570 63,292,230 Owned 3,115 712 3,828 15,726,570 3,532,730 19,259,300 8,548,910 2,155,340 10,704,250 Leased 8,799 5,806 14,605 44,826,940 27,320,570 72,147,510 27,813,210 17,447,520 45,260,730 Option 1,551 647 2,198 7,932,730 2,953,370 10,886,100 5,156,540 2,170,710 7,327,250 Total 13,465 7,165 20,630 68,486,240 33,806,670 102,292,910 41,518,660 21,773,570 63,292,230 Adverse 4,130 17,750 21,880 19,876,380 66,614,480 86,490,860 13,072,710 18,604,500 31,677,210 *Average total seam thickness by mine Definitions: Total seam is the thickness of coal and non-coal partings from the top to the base of the seam, excluding the middleman. Wash recovery is estimated via a plant simulation utilizing multi-gravity data available to target a 10.2% ash product from exploration data and MM&A's experience in the subject coal horizons. 6,733 3,583 10,315 49,709,160 23,297,780 73,006,940 6,733 3,583 10,315 18,777,080 10,508,890 29,285,970 WARM118 BCE Table (2022-02-04).xlsx • Metric Tonnes • 2/22/2022 Page 6 of 6

APPENDIX B MARKET MEMORANDUM PROVIDED BY WARRIOR MET

Warrior Met Coal, Inc. Appendix B: Market Projections Provided by Warrior Met Key price expectations (nominal US dollars) Price Description Basis 2022 2023 2024 2025 2026 2027 2028 2029 2030 MCC1 Low vol PHCC FOB Australia 281 159 160 160 165 182 188 192 195 Note: This modeling is based on Chinese restrictions on Australian coal continuing through the end of 2022; an earlier or later end will meaningfully change our outlook, with higher CFR and lower FOB prices. PHCC = Prime hard coking coal, HCC = Hard coking coal; PCI = Pulverized coal injection; SSCC = Semi-soft coking coal; quarterly prices are quarter averages, including current quarter. Report Appendix Markets from WMC.xlsx • 2/18/2022 Page 1 of 1