Confidential – Authorized Use Only

Seaport Global Coal Conference August 16, 2018

2,750 Employees

14 Underground Mines

7 Surface Operations

9 Prep Plants

• 9 Rail Loadouts (CSX and NS)

• 2 Kanawha River Barge Loadouts

Our Operations

ABOUT Alpha

2

3

2018 Production

Our Production

53%Metallurgical

47%Thermal

55%Underground

39%Surface

6%Purchase

4

Met Production

2018 Production

55% 22% 13% 10%

HVA HVB LV MV

57% Export

43%Domestic

Our Operations ─ West Virginia

*Projection

Capital Projects Review

▪ Brooks Run South

▪ Road Fork 52 Low Vol Reserves

▪ Mid West Virginia Surface

▪ Workman Creek Coal Handling

Facility for Met Reserves

▪ Coal River East

▪ Black Eagle Mine at Marfork

▪ Panther Eagle Mine to Full Production

▪ Brooks Run West

▪ Lynn Branch High Vol Reserves

Capital Projects by Operating Group

6

Capital Projects

7

Road Fork 52 Low Vol Reserves

• High quality met slope is 80% complete

• Access to 29 MM tons of reserves in Pocahontas

3 seam

• Output capacity in excess of 1 million tons/year

• Anticipate startup in Q2, 2019

Workman Creek Belt for Met Reserves

• 2,000 TPH conveyor system to Marfork plant

• 70+ million metallurgical reserve tons

• High quality coking coal seams

• Completed in June, 2018

• Cost savings of $3 a raw ton for trucking,

removes trucks from local highways

Capital Projects

8

Black Eagle Mine adjacent to Marfork

• Immediate access to a premier High Vol A reserve

block located west of the Big Coal River

• High quality Eagle Seam reserve is among the

thickest remaining within Alpha’s portfolio of met

reserves

• Reserve base of 23+ MM tons

• Completion expected in Q4, 2018

Panther Eagle Mine at Marfork

• Fully permitted premium High Vol A reserve,

replacing depleting Brushy Eagle mine

• 1st unit production in Q4, 2018

• 2nd unit production staffing up now

• 8 MM tons of Marfork High Vol A reserves

Capital Projects

9

Lynn Branch

• Reserve base of 16.5 MM tons of High Vol B in #2

gas seam

• Replacement for Bandmill mines as their reserves

are exhausted

• Preliminary permit design completed

• Permit to be submitted in Q4, 2018