Company Overview

October 2016 Introduction

Contura Energy: Who We Are About Us

Contura Energy is a private, Tennessee-based company with affiliate mining operations across multiple major coal basins in Pennsylvania, Virginia, West Virginia and Wyoming. With customers across the globe, high-quality reserves, and significant port capacity, Contura Energy reliably supplies both metallurgical coal to the steel industry and thermal coal to generate power.

• Formed in July 2016 through the purchase of certain core coal assets by a consortium of lenders as a part of Alpha Natural Resources’ Chapter 11 Bankruptcy restructuring.

• Began operation as Contura Energy, Inc. on July 26, 2016.

• Comprised of a diversified production profile, including a range of high-quality metallurgical coal products and significant steam coal tonnage, across Central Appalachia (CAPP), Northern Appalachia (NAPP), and the Powder River Basin (PRB).

• Controls approximately 1.38 billion NT of reserves.

• Owns majority stake in the world-class Dominion Terminal Associates (DTA) coal export terminal located in Newport News, Virginia, with an annual capacity of 22 million tons.

• Committed to the safety and health of our approximately 2,200 affiliated employees, efficient mining operations, and responsible environmental stewardship.

For more information, visit: www.conturaenergy.com

3 Management Team

Kevin S. Crutchfield, Chief Executive Officer & Member, Board of Directors

Kevin S. Crutchfield has served as Contura’s chief executive officer since July 2016. He also serves on Contura’s Board of Directors. Previously, he served as chairman and chief executive officer of Alpha Natural Resources, Inc. Prior roles include various operating and executive management positions at El Paso Corporation, Coastal Coal Company, AMVEST Corporation, AEI Resources, Inc., Cyprus Australia Coal Company, Cyprus Coal Company, and Pittston Coal Company.

Gary W. Banbury, Executive Vice President & Chief Administrative Officer

Gary W. Banbury has served as Contura’s executive vice president and chief administrative officer since July 2016. He previously served as executive vice president and chief administrative officer of Alpha Natural Resources, Inc., a position he held from July 2013. Prior roles include executive management positions at Allied Nevada Gold Corp., RJ Human Capital Services, and Coeur d’Alene Mines Corporation.

Andy Eidson, Executive Vice President & Chief Financial Officer Andy Eidson has served as executive vice president and chief financial officer of Contura since July 2016. He previously served as executive vice president and chief financial officer of Alpha Natural Resources, Inc., a position he held from March 2016. Prior roles include various financial positions across industry sectors, including at Penn Virginia Resource Partners, Eastman Chemical Company, and PricewaterhouseCoopers LLP.

4 Management Team (continued)

Keith Hainer, Executive Vice President & Chief Operating Officer

Keith Hainer has served as executive vice president and chief operating officer of Contura since July 2016. He previously served as executive vice president, mining operations for Alpha Natural Resources, Inc., a position he held from January 2015. Prior roles include various operation leadership positions at Alpha, Massey Energy, and Shell Mining.

Bruce Hartshorn, Executive Vice President – Sales and Marketing

Bruce Hartshorn has served as Contura’s executive vice president, sales and marketing since July 2016. He previously served as senior vice president, sales and marketing for Alpha Natural Resources, Inc., a position he held from August 2015. Prior roles include various sales, management, and engineering positions at Pittston Coal Company and North American Coal Company.

Mark Manno, Executive Vice President, General Counsel, Secretary, & Chief Procurement Officer Mark Manno has served as executive vice president, general counsel, secretary and chief procurement officer of Contura since July 2016. He previously served in the same role for Alpha Natural Resources, Inc., positions he held from December 2015. Prior roles include various information technology and sourcing roles at Alpha; executive leadership roles with SJ Strategic Investments; multiple roles with King Pharmaceuticals, Inc.; and as an attorney with Baker, Donelson, Bearman, Caldwell & Berkowitz, PC. Before joining the private sector, Mr. Manno was an officer in the US Navy.

5 Safety and Stewardship

Operating safely, ethically, and responsibly are more than just priorities for Contura Energy and its affiliates. They are ingrained in everything we do.

• Contura affiliate operations have received numerous safety and environmental awards at the state, regional, and national levels.

• We believe every employee must have a voice in the safety process and proactively involve hourly and salaried workers alike in the observation, review, and decision-making of potential safety improvements.

• Our operations have partnered with manufacturers and regulators to test the latest in mine safety technologies within active mining environments.

• We also partner with local communities and non-governmental organizations to ensure appropriate and sustainable post-mining reclamation practices.

• We operate the Running Right Leadership Academy, a first of its kind, state-of-the-art comprehensive education and training facility for mine safety and operations located in Julian, West Virginia.

• To help enforce our own safety practices, Contura also participates in the National Mining Association’s CORESafety program (www.coresafety.org).

6 Asset Overview

Our Affiliated Operations Operational Footprint

Contura Energy affiliates operate both underground and surface coal mining complexes across Northern Appalachia, Central Appalachia, and the Powder River Basin.

Central Appalachia (VA, WV)

Cabin Ridge – Surface (VA)

Deep Mine #26 – Underground (VA)

Deep Mine 41 – Underground (VA)

88 Strip – Surface (VA)

Deep Mine #25* – Underground (VA)

Bear Ridge Upper Banner* – Underground (VA)

Deep Mine 37* – Underground (VA)

Deep Mine 44* – Underground (VA)

Reedy Ridge* – Underground (VA)

Jerry Fork Eagle – Underground (WV) Northern Appalachia (PA)

Cumberland – Underground Powder River Basin (WY)

Belle Ayr – Surface

Eagle Butte – Surface

*Contract Mine

8 Central Appalachia (CAPP)

Chesapeake Bay Pier Key

Contura Complex

MD Export Terminal

Nicholas VA Pier VI

DTA Lamberts Point

McClure Toms Creek

Note: Map not to scale. 9 CAPP – McClure Complex

Complex Description Reserves and Tons Sold Profile • McClure is an underground metallurgical coal mining complex in Dickenson County, Virginia • McClure controls 105.4 million tons of proven and probable reserves (52% permitted) • Produces a diversified product mix of Mid Vol. and High Vol. A metallurgical coal which is 100% 100% shipped to domestic and foreign steel producers Met via the CSX railroad Total Reserves: 105.4 million tons 2015 Sales: 2.1 million tons • Operations are comprised of 4 active underground mines, and 1 active preparation Historical Tons Sold 1.9 2.1 plant (950 tons per hour) 1.7 • Approximately 386 highly-skilled employees, 1.5 with the preparation plant employees being 2.1 represented by the United Mine Workers of 1.9 America (UMWA) 1.7 1.5

0.03 2013A 2014A 2015A 2016 YTD (Q3) Met Thermal

10 CAPP – Toms Creek Complex

Complex Description Reserves and Tons Sold Profile • Toms Creek is a surface and underground 7% metallurgical coal mining complex in Wise 37% County, VA

• Toms Creek controls 13.8 million tons of proven 63% and probable reserves (52% permitted) • Produces a variety of products including High 93% Vol. A, High Vol. B, metallurgical coal as well as Met Thermal Midds and thermal coal which is shipped to both Total Reserves: 13.8 million tons 2015 Sales: 1.4 million tons domestic and foreign steel producers and utility customers via the NS railroad Historical Tons Sold • Operations are comprised of 2 active 2.3 1.6 underground mines, 4 active surface mines and 1.4 1.7 1 preparation plant (900 tons per hour)

• Approximately 240 highly-skilled, union-free 1.5 .8 employees 1.3 0.7 0.6 0.1 0.1 0.06

2013A 2014A 2015A 2016 YTD (Q3) Met Thermal

11 CAPP – Nicholas Complex

Complex Description Reserves and Tons Sold Profile • Nicholas is an underground metallurgical coal mining complex in Nicholas County, West Virginia • Nicholas controls 55 million tons of proven and probable reserves (38% permitted) • Produces High Vol. B metallurgical coal which is 100% 100% shipped to both domestic and foreign steel Met producers via the NS railroad Total Reserves: 55 million tons 2015 Sales: 0.6 million tons • Operations are comprised of 1 active underground mine, and 1 preparation plant Historical Tons Sold (1,100 tons per hour) 0.7 0.6 0.5 0.5 • Approximately 125 highly-skilled employees with 0.4 the preparation plant employees being represented by the United Mine Workers of 0.6 America (UMWA) 0.5 0.5 0.3

2013A 2014A 2015A 2016 YTD (Q3) Met Thermal

12 Northern Appalachia (NAPP)

Key

Contura Complex

Export Terminal PA

PA Services Chesapeake Bay Pier

VA Pier VI

DTA Lamberts Point

Note: Map not to scale. 13 NAPP – PA Services (Cumberland) Complex

Complex Description Reserves and Tons Sold Profile • NAPP operations include the Cumberland underground 7% 4% mining complex (PA Services) • Cumberland operations are located in Greene County, PA • NAPP operations control 589 million tons of proven and probable coal reserves (7% permitted) • Produces high quality, internationally recognizable 93% 96% Pittsburgh 8 seam coal which is shipped to both domestic Met Thermal and foreign steel producers and utility customers via the Total Reserves: 589 million tons 2015 Sales: 7.1 million tons Monongahela River, CSX and NS railroads • Barge capabilities to Contura controlled LaBelle facility Historical Tons Sold with access to MGA for CSX and NS railroads 7.4 7.1 • Operations are comprised of 1 active longwall mine, and 1 0.3 5.6 active preparation plant (1,600 tons per hour) 5.6 0.4 • Approximately 685 highly-skilled employees, with 82% represented by the United Mine Workers of America (UMWA) 7.4 6.8 5.6 5.2

2013A 2014A 2015A 2016 YTD (Q3) Met Thermal

14 Powder River Basin (PRB)

Key

Contura Complex

MT ND

Eagle Butte

ID SD Belle Ayr

Note: Map not to scale. 15 PRB – Belle Ayr Complex

Complex Description Reserves and Tons Sold Profile • Operations are located in Campbell County, WY

• Produces thermal coal which is shipped to domestic customers via the BNSF and UP 100% 100% Railroads

• Operations are comprised of 1 active surface mine, and 1 loadout Thermal Total Reserves: 270.0 million tons 2015 Sales: 18.3 million tons • Approximately 226 highly-skilled, union-free employees Historical Tons Sold 18.3 18.3 15.8

10.8

2013A 2014A 2015A 2016 YTD (Q3) Thermal

16 PRB – Eagle Butte Complex

Complex Description Reserves and Tons Sold Profile • Operations are located in Campbell County, WY

• Produces thermal coal which is shipped to domestic customers via the BNSF railroad 100% 100%

• Operations are comprised of 1 active surface mine, and 1 loadout Thermal

• Approximately 243 highly-skilled, union-free Total Reserves: 350.0 million tons 2015 Sales: 19.7 million tons employees Historical Tons Sold 20.7 19.9 19.7

13.9

2013A 2014A 2015A 2016 YTD (Q3) Thermal

17 Dominion Terminal Associates (DTA)

Complex Description • World Class coal export terminal facility located in Newport News, VA

• Highly mechanized, critical component of CSX’s infrastructure

• Highly accessible with deep draft (55 ft.)

• 22 million tons per year overall capacity

• 9.35 million tons of capacity dedicated to Contura Energy

• 1.7 million tons of total coal storage

• 700,000 tons of coal storage dedicated to Contura Energy

• Potential for product diversification

• Highly-skilled, union-free workforce

18 Running Right Leadership Academy

The Leadership Academy is a first of its kind, state-of-the-art comprehensive education and training facility for mine safety and operations. The facility includes:

• A 96,000 square foot mine lab to simulate mine situations and conditions

• A virtual reality lab with simulators for a roof bolter, continuous mining machine, scoop, and haul truck

• Electrical, welding, and maintenance labs for skills training and certification

• Classrooms where a comprehensive training curriculum is conducted

19 Forward Looking Statements

This document includes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on Contura's expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Contura's control. Examples of forward-looking statements include, but are not limited to:

 our liquidity, results of operations and financial condition;  depressed levels or declines in coal prices;  worldwide market demand for coal, electricity and steel, including demand for U.S. coal exports, and competition in coal markets;  utilities switching to alternative energy sources such as natural gas, renewables and coal from basins where we do not operate;  reductions or increases in customer coal inventories and the timing of those changes;  our production capabilities and costs;  inherent risks of coal mining beyond our control;  changes in environmental laws and regulations, and court decisions, including those directly affecting our coal mining and production, and those affecting our customers’ coal usage, including potential climate change initiatives;  our relationships with, and other conditions affecting, our customers, including the inability to collect payments from our customers if their creditworthiness declines;  changes in, renewal or acquisition of, terms of and performance of customers under coal supply arrangements and the refusal by our customers to receive coal under agreed contract terms;  our ability to obtain, maintain or renew any necessary permits or rights, and our ability to mine properties due to defects in title on leasehold interests;  attracting and retaining key personnel and other employee workforce factors, such as labor relations;  funding for and changes in employee benefit obligations;  cybersecurity attacks or failures, threats to physical security, extreme weather conditions or other natural disasters;  reclamation and mine closure obligations;  our assumptions concerning economically recoverable coal reserve estimates;  our ability to negotiate new United Mine Workers of America wage agreements on terms acceptable to us, increased unionization of our workforce in the future, and any strikes by our workforce;  disruptions in delivery or changes in pricing from third party vendors of key equipment and materials that are necessary for our operations, such as diesel fuel, steel products, explosives and tires;  inflationary pressures on supplies and labor and significant or rapid increases in commodity prices;  railroad, barge, truck and other transportation availability, performance and costs;  disruption in third party coal supplies;  the consummation of financing or refinancing transactions, acquisitions or dispositions and the related effects on our business and financial position;  our indebtedness and potential future indebtedness;  our ability to generate sufficient cash or obtain financing to fund our business operations; and  our ability to obtain or renew surety bonds on acceptable terms or maintain self-bonding status.

Forward-looking statements in this document or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Contura to predict these events or how they may affect the Company. Contura has no duty to, and does not intend to, update or revise the forward-looking statements in this document. In light of these risks and uncertainties, investors should keep in mind that the results, events or developments disclosed in any forward-looking statement made in this document may not occur.