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 WV 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 MD WV 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%