Slide 1: Investor Presentation: First Quarter 2024 Results
INVESTOR PRESENTATION First Quarter 2024 Results 1
Slide 2: Disclaimer
DISCLAIMER Forward Looking Statements: The information in this presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities We caution you that these forward-looking statements are subject to a number of risks, uncertainties and assumptions, which Act of 193
Slide 3: Ramaco at a Glance
RAMACO AT A GLANCE Key Highlights Dual Class Structure The Path Forward “Pure play” metallurgical coal company Two Ways to Play Key US Supplier of We expect continued This is a key component in steel production, which is METC: Met Coal + production and free cash flow Critical Materials crucial to na
Slide 4: Ramaco Resources Business Lines
RAMACO RESOURCES BUSINESS LINES Multiple ways to invest in our businesses; each with unique value characteristics In mid-2023, Ramaco Resources distributed a new class of common stock, the Class B common stock (Ticker: METCB) to existing shareholders. It provides a direct participation in the financ
Slide 5: First Quarter of 2024 Results
FIRST QUARTER OF 2024 RESULTS
Slide 6: First Quarter Highlights
FIRST QUARTER HIGHLIGHTS Setting the stage for meaningful 2H24 low-cost production growth First Quarter Highlights and Commentary Setting The Stage For A Strong 2H24 – 1Q24 net income of $2 million and Adjusted EBITDA of $24 million were down QoQ and YoY in large part on the back of a meaningful dec
Slide 7: First Quarter of 2024 Overview
FIRST QUARTER OF 2024 OVERVIEW Setting the stage to increase production by ~1 mtpa later this year Continued to reinvest in low-cost Chg. vs Chg. production, which should allow 1Q24 4Q23 4Q 1Q23 YoY for sales to go from ~4 mtpa on Total Tons Sold (000) 929 988 (6)% 757 23% average the past few quart
Slide 8: First Quarter Performance Review
FIRST QUARTER PERFORMANCE REVIEW Strong growth platform coupled with a conservative balance sheet remain core principles Total coal sales (000s of tons) Total debt (in $ MM) 1Q24 sales of 929,000 tons were up 23% 996 988 $138 $142 929 from 1Q23 of 757,000 tons, as the Company’s strong growth platfor
Slide 9: Solid Margins Despite Decline in Met Coal Pricing
SOLID MARGINS DESPITE DECLINE IN MET COAL PRICING Our margins remained strong despite the fall in metallurgical coal prices to begin 2024 Solid Quarterly Margins 1 2023 Met Coal Cash Costs 2 Despite industry-wide inflationary pressures, we are committed to staying $140 $250 $150 at the low end of th
Slide 10: Ramaco Key Highlights
RAMACO KEY HIGHLIGHTS
Slide 11: Ramaco Track Record of Investor and Financial Performance
RAMACO TRACK RECORD OF INVESTOR AND FINANCIAL PERFORMANCE Strong 5+ year track record of growth and execution Total Shareholder Return 1 Total coal sales (in mm of tons) Since initial production began in 2017, METC has TSR Since TSR 1- 3.5 consistently executed on its Company March 2020 Year plan to
Slide 12: Medium-Term Potential to More Than Double Production
MEDIUM-TERM POTENTIAL TO MORE THAN DOUBLE PRODUCTION Ramaco annual production (in millions of tons) Ramaco achieved its original long-term goal of achieving 4 million tons of 7+ annualized sales in 2H23. In 2023, Ramaco almost doubled its production from 1.7 million tons produced in 2020. 4.2 3.2 Ra
Slide 13: Metallurgical Quality Breakdown
METALLURGICAL QUALITY BREAKDOWN Production growth is focused to create a long-term, high value portfolio. 80% of production at an anticipated 7+ million ton1 level is expected to be higher quality Low Vol, Mid Vol, and High Vol A coal. The largest increase will come from Low Vol production from our
Slide 14: Global Coal Sales
GLOBAL COAL SALES Ramaco coal has been sold into 20 countries, with a growing focus on sales into Asian markets Sweden Finland UK Canada Netherlands Poland Belgium Germany Ukraine Czech Republic Romania South Korea Italy Turkey USA Spain Japan India Indonesia Brazil South Africa 14
Slide 15: Rare Earth Elements (REE) Potential
RARE EARTH ELEMENTS (“REE”) POTENTIAL
Slide 16: Ramaco's REE Deposit
RAMACO’S REE DEPOSIT Potentially transformative discovery; Recently updated Weir Technical Report showed meaningfully higher concentrations and tonnage at Ramaco’s Brook Mine REE Background: What Are REEs?: Rare earth elements (REEs) are critical minerals essential to the energy transition. They are
Slide 17: Key Highlights from Weir International's March 2024 Technical Report Summary
KEY HIGHLIGHTS FROM WEIR INTERNATIONAL’S MARCH 2024 TECHNICAL REPORT SUMMARY We believe Ramaco’s Brook Mine has 3 distinct advantages: Brook Mine Estimated Max & Avg TREO By Lithology (in ppm) The majority of its estimated REEs are found in coal and clay, which is generally 1 12,000 less expensive a
Slide 18: Key Highlights from Weir International's March 2024 Technical Report Summary
KEY HIGHLIGHTS FROM WEIR INTERNATIONAL’S MARCH 2024 TECHNICAL REPORT SUMMARY 38% of the total estimated REO basket consists of primary magnetic REOs of neodymium, praseodymium, dysprosium and terbium, secondary magnetic REOs, and gallium & germanium. Estimated Brook Mine TREO Distribution by Oxide E
Slide 19: Appendix
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Slide 20: 2024 Ramaco Resources Guidance
2024 RAMACO RESOURCES GUIDANCE Full-Year 2023 2024 Guidance Company Production (tons) 4,000 – 4,400 3,174 (a) Sales (tons) 4,200 – 4,600 3,455 Committed 2024 Sales Volume(f) Volume Avg Price (In millions, except per ton amounts) (b) Cash Costs Per Ton - Company Produced $ 105 – 111 $ 110 North Ameri
Slide 21: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES (In thousands) Q1 2024 Q4 2023 Q1 2023 Adjusted EBITDA and Net Debt are used as supplemental non-GAAP financial measures by management and Reconciliation of Net Income to Adjusted EBITDA external users of our financial statements, such as Net Income $ 2,032 $ 30,0
Slide 22: 250 West Main Street, Suite 1900 Lexington, Kentucky 40507 info@ramacometc.com
250 West Main Street, Suite 1900 Lexington, Kentucky 40507 Investor Relations: info@ramacometc.com 859-244-7455 22