Warrior Met Coal, Inc. · NYSE:HCC

Warrior Met Coal — Q1 2022 Earnings Presentation

13 slides from Warrior Met Coal's earnings presentation, May 5, 2022

  1. Slide 1: First Quarter 2022 Results

    First Quarter 2022 Results May 5, 2022

  2. Slide 2: Forward-looking statements

    Wa rri o r Met C o a l Page 1 Forward-looking statements These slides contain, and the officers and representatives of Warrior Met Coal, Inc. (the “Company”) may from time to time make, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Sectio

  3. Slide 3: First Quarter 2022 Achievements

    Wa rri o r Met C o a l Page 2 First Quarter 2022 Achievements 1 Achieved net income of $146.2 million, which is the second consecutive quarter of record quarterly results since the fourth quarter of 2018  2 Posted second consecutive quarter of all-time record adjusted EBITDA of $243.8 million and a

  4. Slide 4: Key Metrics for Q1 2022 vs. Q1 2021

    Wa rri o r Met C o a l Page 3 Key Metrics for Q1 2022 vs. Q1 2021 Q1 2022 Q1 2021 % Change Tons produced (in 000s St) 1,538 Tons produced (in 000s St) 2,172 (29%) Tons sold (in 000s St) 1,127 Tons sold (in 000s St) 1,952 (42%) Average net selling price (per St) $339.34 Average net selling price (per

  5. Slide 5: Leverage and Liquidity Analysis

    Wa rri o r Met C o a l Page 4 Leverage and Liquidity Analysis Financial Metrics ($MM except ratios) Leverage (for the trailing twelve months ended March 31, 2022) Adjusted EBITDA* $ 654.2 (1) Consolidated Net Debt* $ (47.1) (2) Net Leverage Ratio (0.07x) Liquidity (as of March 31, 2022) Cash and Cas

  6. Slide 6: Generated Significant Free Cash Flow on Strong Conversion of Adjusted EBITDA Margins

    Wa rri o r Met C o a l Page 5 Generated Significant Free Cash Flow* on Strong Conversion of Adjusted EBITDA* Margins(1) Adjusted EBITDA* Margin (1) FCF Conversion*(2) 50% 82% 50% 63% 20% 47% 70.0% 64.4% 60.0% 57.8% 51.8% 52.8% 50.0% 40.0% COVID-19 Pandemic Impacted 28.7% 30.0% 22.1% 20.0% Labor Stri

  7. Slide 7: Relaunch of World-Class Blue Creek with High-Return for Growth

    W ar r ior Met Coal Page 6 Relaunch of World-Class Blue Creek with High-Return for Growth  One of the last remaining untapped premium quality High Vol A Significant Growth Potential coal reserves in the U.S., that should achieve premium prices 17.6  Once developed, expected to provide a portfolio

  8. Slide 8: Appendix

    Wa rri o r Met C o a l Page 7 Appendix

  9. Slide 9: Appendix

    Wa rri o r Met C o a l Page 8 Appendix For the three months ended For the three months ended March 31, 2022 (Unaudited) March 31, 2021 (Unaudited) Short Tons Metric Tons Short Tons Metric Tons Tons sold (in 000s) 1,127 1,022 1,952 1,771 Tons produced (in 000s) 1,538 1,395 2,172 1,970 Average net sel

  10. Slide 10: Appendix Non-GAAP Financial Measures

    Wa rri o r Met C o a l Page 9 Appendix Non-GAAP Financial Measures Reconciliation of Adjusted EBITDA to Amounts Reported Under U.S. GAAP For the three months ended March 31, (Unaudited) (in thousands) 2022 2021 Net income (loss) $ 146,249 $ (21,355) Interest expense, net 7,822 8,693 Income tax expen

  11. Slide 11: Reconciliation of Free Cash Flow to Amounts Reported Under U.S. GAAP

    W ar r ior Met Coal Page 10 Appendix Non-GAAP Financial Measures Reconciliation of Free Cash Flow to Amounts Reported Under U.S. GAAP For the three months ended March 31, (Unaudited) (in thousands) 2022 2021 Net cash provided by operating activities $ 70,141 $ 45,222 Purchases of property, plant and

  12. Slide 12: Reconciliation of Adjusted Net Income to Amounts Reported Under U.S. GAAP

    W ar r ior Met Coal Page 11 Appendix Non-GAAP Financial Measures Reconciliation of Adjusted Net Income to Amounts Reported Under U.S. GAAP For the three months ended March 31, (Unaudited) (in thousands) 2022 2021 Net income (loss) $ 146,249 $ (21,355) Alabama state income tax valuation allowance — 2

  13. Slide 13: Reconciliation of Cash Cost of Sales to GAAP Cost of Sales

    W ar r ior Met Coal Page 12 Appendix Non-GAAP Financial Measures Reconciliation of Cash Cost of Sales (Free-On-Board Port) to Cost of Sales Reported Under U.S. GAAP For the three months ended March 31, (Unaudited) (in thousands) 2022 2021 Cost of sales $ 135,341 $ 154,350 Asset retirement obligation

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