Alpha Appoints Three New Directors, Reaches Agreement with MG Capital on Board Composition

Appointments of Kenneth Courtis, Elizabeth Fessenden and Daniel Smith Reflect the Company’s Commitment to Stockholder Engagement and Strengthening Corporate Governance

BRISTOL, Tenn., February 2, 2021 – Alpha Metallurgical Resources, Inc. (NYSE: AMR) (“Alpha” or the “Company”), a leading U.S. supplier of metallurgical products for the steel industry, today announced that it has reached agreement with MG Capital Management, Ltd. (together with its affiliates, “MG Capital”), a holder of approximately 5.8% of Alpha’s outstanding common stock, on steps to accelerate the refreshment of the Company’s Board of Directors (the “Board”).

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Alpha Metallurgical Resources Completes Name Change

Common Stock Scheduled to Begin Trading as AMR on February 4

BRISTOL, Tenn., February 1, 2021 – Alpha Metallurgical Resources, Inc., (NYSE: AMR), a leading U.S. supplier of metallurgical products for the steel industry, today announced that it has completed its name change.
Previously named Contura Energy, Inc., the company begins conducting business under the Alpha Metallurgical Resources banner, effective today. The rebranding more accurately reflects the company’s strategic focus on the production of metallurgical coal as a critical feedstock for steel production.

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Contura Energy Announces Upcoming Name Change to Alpha Metallurgical Resources, Inc.

Rebranding Reflects Company’s Strategic Focus on Met Coal

BRISTOL, Tenn., January 22, 2021 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. supplier of metallurgical products for the steel industry, today announced that it will change its name, effective February 1, 2021, to Alpha Metallurgical Resources, Inc.

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Contura Appoints Andy Eidson as President and Chief Financial Officer

Roger Nicholson and Dan Horn Also Receive Promotions

BRISTOL, Tenn., December 17, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. supplier of metallurgical products for the steel-making industry, today announced promotions within its executive leadership team as part of the company’s long-term succession planning process.

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Contura Closes Transaction Divesting Cumberland Mine

Company Issues Updated 2021 Guidance Reflecting New Operational Portfolio

BRISTOL, Tenn., December 10, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. supplier of metallurgical products for the steel-making industry, today announced the closing of its transaction with Iron Senergy Holding, LLC (Iron Senergy) for the divestment of the Cumberland Mine and related assets in Greene County, Pennsylvania.

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Quillen Joins Contura’s Board of Directors

BRISTOL, Tenn., November 23, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. supplier of metallurgical products for the steel-making industry, today announced that Michael J. Quillen has joined Contura’s board, effective November 23, 2020. As an industry veteran with prior hands-on knowledge of Contura’s assets, Quillen brings several decades of coal expertise to the Contura team.

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Directors Lushefski, Geiger, and Medine Resign from Contura Board

BRISTOL, Tenn., November 20, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. supplier of metallurgical products for the steel-making industry, today announced changes to its board of directors. John E. Lushefski, Daniel J. Geiger, and Emily S. Medine have resigned from the Contura board of directors effective immediately. Each of the three members decided not to stand for reelection at the Company’s 2021 annual shareholder meeting and believed that it was in the Company’s best interest to resign effective immediately to facilitate the search for new directors. None of the resignations was the result of any disagreement with the company.

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Contura Signs Agreement to Divest Cumberland Mine, Pennsylvania Assets

Transaction Expected to Accelerate Contura’s Strategic Exit from Thermal Coal Production

BRISTOL, Tenn., November 12, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. supplier of metallurgical products for the steel-making industry, today announced a definitive agreement with Iron Senergy Holding, LLC (Iron Senergy) for the divestment of Contura’s Pennsylvania operations, including the Cumberland Mine in Greene County, Pennsylvania. The equity transaction is expected to close before December 31, 2020, and, upon closing, will transfer to Iron Senergy the subsidiaries that hold Contura’s Cumberland and Emerald mines and the associated coal reserves, mining permits and operations, infrastructure, equipment and transloading facilities.

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Contura Confirms Receipt of Anticipated $67 Million AMT Refund

BRISTOL, Tenn., November 10, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. supplier of metallurgical products for the steel-making industry, today announced the receipt of its expected $66.1 million alternative minimum tax (AMT) credit monetization refund along with an additional interest payment.

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Contura Announces Third Quarter 2020 Results

• Reports net loss from continuing operations of $69 million for the third quarter 2020
• Posts Adjusted EBITDA(1) of $20 million for the third quarter 2020
• Continues strong cost management in all operating segments with historically low CAPP – Met costs
• Reduces long-term debt by approximately $31 million in the third quarter of 2020
• Introduces 2021 guidance

BRISTOL, Tenn., November 9, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, today reported results for the third quarter ending September 30, 2020.

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Contura to Announce Third Quarter 2020 Financial Results on November 9

BRISTOL, Tenn., November 2, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, plans to announce its third quarter 2020 financial results before the market opens on Monday, November 9, 2020.

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Contura Issues Statement on MG Capital Letter

BRISTOL, Tenn., October 13, 2020 – Contura Energy, Inc. (NYSE: CTRA) today issued the following statement in response to the letter the Company’s Board of Directors received from MG Capital Management, Ltd.:

Contura welcomes the opportunity to engage with its shareholders and we welcome constructive input relating to enhancing shareholder value. We remain focused on delivering long-term shareholder value and will continue to take actions to achieve that objective. Although we would have preferred that MG Capital engage with Contura privately, we have reviewed and considered the MG Capital letter. MG Capital, the Board, and the executive management team are closely aligned in their goals and strategic direction for the Company; however, we believe that a number of the underlying assertions in the letter are inaccurate and we wish to clarify some of them.

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Contura Announces Second Quarter 2020 Results

• Reports net loss from continuing operations of $238 million for the second quarter 2020, including a pre-tax, non-cash asset impairment charge of $162 million
• Posts Adjusted EBITDA(1) of $17 million for the second quarter 2020
• Maintains strong cost management in all operating segments and overhead
• Executes on long-term strategic portfolio optimization
• Reduces long-term debt by approximately $25 million in the second quarter of 2020
• Continues conservative financial management with liquidity of $240 million at quarter-end and $66 million in AMT refunds expected to be received in second half of 2020

BRISTOL, Tenn., August 7, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, today reported results for the second quarter ending June 30, 2020.

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Contura to Announce Second Quarter 2020 Financial Results on August 7

BRISTOL, Tenn., July 31, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, plans to announce its second quarter 2020 financial results before the market opens on Friday, August 7, 2020.

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