WARRIOR MET COAL, INC. (Form: 10-K, Received: 02/22/2022 17:34:40)

Execution Version INTERCREDITOR AGREEMENT dated as of December 6, 2021 among CITIBANK, N.A., as Initial ABL Agent, WILMINGTON TRUST, NATIONAL ASSOCIATION, as Initial Term Agent, WILMINGTON TRUST, NATIONAL ASSOCIATION, as Initial Term Representative, and EACH ADDITIONAL TERM AGENT AND ADDITIONAL TERM REPRESENTATIVE FROM TIME TO TIME PARTY HERETO

- i - TABLE OF CONTENTS Page SECTION 1. DEFINITIONS; RULES OF CONSTRUCTION. ............................................................. 2 1.1 Defined Terms .................................................................................................................... 2 1.2 Construction ...................................................................................................................... 21 SECTION 2. LIEN PRIORITIES. .......................................................................................................... 22 2.1 Relative Priorities ............................................................................................................. 22 2.2 Prohibition on Contesting Liens or Claims ....................................................................... 24 2.3 New Liens ......................................................................................................................... 24 2.4 Similar Liens and Agreements .......................................................................................... 25 SECTION 3. EXERCISE OF REMEDIES. ........................................................................................... 25 3.1 Exercise of Remedies with respect to the ABL Priority Collateral .................................. 25 3.2 Exercise of Remedies with respect to the Term Priority Collateral .................................. 26 3.3 Exclusive Enforcement Rights .......................................................................................... 27 3.4 Permitted Actions ............................................................................................................. 28 3.5 Retention of Proceeds ....................................................................................................... 28 3.6 Non-Interference ............................................................................................................... 29 3.7 Unsecured Creditor Remedies .......................................................................................... 29 3.8 Commercially Reasonable Dispositions; Notice of Exercise ........................................... 29 3.9 Inspection and Access Rights ........................................................................................... 30 3.10 Sharing of Information and Access ................................................................................... 32 3.11 Tracing of and Priorities in Proceeds ................................................................................ 32 SECTION 4. PROCEEDS. ....................................................................................................................... 33 4.1 Application of Proceeds .................................................................................................... 33 4.2 Turnover............................................................................................................................ 35 4.3 No Subordination in Right of Payment ............................................................................. 37 4.4 Non-Lienable Assets ......................................................................................................... 37 4.5 Application of Payments ................................................................................................... 37 4.6 Nature of ABL Debt ......................................................................................................... 37 4.7 Nature of Term Debt ......................................................................................................... 38 SECTION 5. RELEASES; DISPOSITIONS; OTHER AGREEMENTS. ........................................... 38 5.1 Releases ............................................................................................................................ 38 5.2 Insurance ........................................................................................................................... 41 5.3 Amendments; Refinancings; Legend ................................................................................ 42 5.4 Bailee for Perfection ......................................................................................................... 44 5.5 When Payment in Full of ABL Priority Debt or Payment in Full of Term Priority Debt Deemed to Not Have Occurred ................................................................................ 45 5.6 Transfer of Pledged Collateral .......................................................................................... 46 SECTION 6. INSOLVENCY PROCEEDINGS. .................................................................................... 47 6.1 Enforceability and Continuing Priority ............................................................................. 47 6.2 Financing. ......................................................................................................................... 47 6.3 Sales .................................................................................................................................. 48 6.4 Relief from the Automatic Stay ........................................................................................ 49 6.5 Adequate Protection .......................................................................................................... 49

- ii - 6.6 Specific Sections of the Bankruptcy Code ........................................................................ 51 6.7 No Waiver; Limitation ...................................................................................................... 51 6.8 Avoidance Issues .............................................................................................................. 51 6.9 Plan of Reorganization ...................................................................................................... 51 6.10 Post-Petition Interest ......................................................................................................... 52 6.11 Separate Grants of Security and Separate Classification .................................................. 53 SECTION 7. RELIANCE; WAIVERS; ETC. ........................................................................................ 54 7.1 Reliance ............................................................................................................................ 54 7.2 No Warranties or Liability ................................................................................................ 54 7.3 No Waiver of Lien Priorities............................................................................................. 54 7.4 Obligations Unconditional ................................................................................................ 57 SECTION 8. MISCELLANEOUS........................................................................................................... 57 8.1 Conflicts ............................................................................................................................ 57 8.2 Effectiveness; Continuing Nature of this Agreement; Severability .................................. 57 8.3 Amendments; Waivers ...................................................................................................... 58 8.4 Information Concerning Financial Condition of Holdings and its Subsidiaries ............... 58 8.5 Subrogation ....................................................................................................................... 59 8.6 SUBMISSION TO JURISDICTION; WAIVERS ............................................................ 59 8.7 Notices .............................................................................................................................. 60 8.8 Further Assurances ........................................................................................................... 60 8.9 Applicable Law ................................................................................................................. 60 8.10 Binding on Successors and Assigns .................................................................................. 61 8.11 Headings ........................................................................................................................... 61 8.12 Counterparts ...................................................................................................................... 61 8.13 Third Party Beneficiaries .................................................................................................. 61 8.14 Provisions Solely to Define Relative Rights ..................................................................... 61 8.15 Integration ......................................................................................................................... 61 8.16 Reciprocal Rights .............................................................................................................. 61 8.17 Capacity of Initial Term Agent ......................................................................................... 62 SECTION 9. TERM PURCHASE OPTION. ......................................................................................... 62 9.1 Notice of Exercise ............................................................................................................. 62 9.2 Purchase and Sale ............................................................................................................. 62 9.3 Payment of Purchase Price................................................................................................ 62 9.4 Supplemental Purchase Price ............................................................................................ 63 9.5 Resignation ....................................................................................................................... 63 SECTION 10. ABL PURCHASE OPTION. ........................................................................................... 63 10.1 Notice of Exercise ............................................................................................................. 63 10.2 Purchase and Sale ............................................................................................................. 64 10.3 Payment of Purchase Price................................................................................................ 64 10.4 Supplemental Purchase Price ............................................................................................ 64 10.5 Resignation ....................................................................................................................... 65

- iii - Exhibits: Exhibit A – Form of Additional Joinder Agreement Exhibit B – Form of Grantor Joinder Agreement Schedules: Schedule 1 – Notice Provisions

INTERCREDITOR AGREEMENT This INTERCREDITOR AGREEMENT (this “Agreement”) is dated as of December 6, 2021, and entered into by and between CITIBANK, N.A., in its capacities as administrative agent for the lenders and collateral agent for the secured parties under the ABL Documents, including its successors and assigns in such capacities from time to time (the “Initial ABL Agent”), WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity, but solely in its capacity as (i) trustee under the Indenture, including its successors and assigns from time to time (in such capacity, the “Initial Term Representative”), and (ii) priority lien collateral agent under the Term Intercreditor Agreement, including its successors and assigns from time to time (in such capacity, the “Initial Term Agent”), and following the execution of an Additional Joinder Agreement, each Additional Term Agent and Additional Term Representative. Capitalized terms used in this Agreement not defined in this Preamble or in the Recitals below have the meanings assigned to them in Section 1 below. RECITALS Warrior Met Coal, Inc., a Delaware corporation (“Holdings”), Warrior Met Coal Intermediate Holdco, LLC, a Delaware limited liability company (“Intermediate Holdco”), Warrior Met Coal Gas, LLC, a Delaware limited liability company (“WMC Gas”), Warrior Met Coal Mining, LLC, a Delaware limited liability company (“WMC Mining”), Warrior Met Coal TRI, LLC, a Delaware limited liability company (“WMC Tri”), Warrior Met Coal BC, LLC, a Delaware limited Liability company (“WMC BC”), WMC Blue Creek Holdco, Inc., a Delaware corporation (“Blue Creek”), Warrior Met Coal Land, LLC, a Delaware limited liability company “(WMC Land”), Warrior Met Coal WV, LLC, a Delaware limited liability company (“WMC WV”), and Warrior Met Coal LA, LLC, a Delaware limited liability company (“WMC LA”, and together with Holdings, Intermediate Holdco, WMC Gas, WMC Mining, WMC Tri, WMC BC, Blue Creek, WMC Land and WMC WV, the “ABL Borrowers”), each guarantor party thereto, each lender from time to time party thereto, the Initial ABL Agent, Citibank, N.A., as Swingline Lender, and Citibank, N.A. and Credit Suisse AG, Cayman Islands Branch, as L/C Issuers, have entered into that certain Second Amended and Restated Asset-Based Revolving Credit Agreement dated as of December 6, 2021 (the “Initial ABL Credit Agreement”) providing for a secured revolving credit facility pursuant to which such lenders have or may, from time to time, make loans and provide other financial accommodations to the ABL Borrowers, including, but not limited to, issuing letters of credit. The obligation of the ABL Borrowers to repay such loans and other financial accommodations under the Initial ABL Credit Agreement is guaranteed by certain Subsidiaries of Holdings identified as guarantors from time to time under the Initial ABL Credit Agreement (each, an “ABL Guarantor” and, collectively, the “ABL Guarantors”). Holdings has issued 7.875% Senior Secured Notes due 2028 in an initial aggregate principal amount of $350,000,000 (the “Initial Notes”) under the Indenture dated as of December 6, 2021 (as amended, restated, supplemented, modified, replaced or refinanced from time to time, the “Indenture”), among Holdings, certain Subsidiaries of Holdings, the Initial Term Representative and the Initial Term Agent. The Initial Notes are guaranteed by Intermediate Holdco, WMC Gas, WMC Mining, WMC Tri, WMC BC, Blue Creek, WMC Land, WMC WV, WMC LA and each other wholly owned domestic Subsidiary of Holdings that is or becomes a borrower or guarantor under the ABL Credit Agreement (each, a “Notes Guarantor” and, collectively, the “Notes Guarantors”, and, together with the ABL Guarantors, the “Guarantors”, and together with Holdings and the ABL Guarantors, collectively, the “Loan Parties”).

- 2 - The obligations of the ABL Borrowers and the ABL Guarantors under the ABL Documents, the ABL Hedging Obligations and the Bank Product Obligations are to be secured (i) on a first priority basis by Liens on the ABL Priority Collateral and (ii) on a second priority basis by Liens on the Term Priority Collateral. The obligations of Holdings and the Notes Guarantors under the Term Documents are to be secured (i) on a first priority basis by Liens on the Term Priority Collateral and (ii) on a second priority basis by Liens on the ABL Priority Collateral. The Initial ABL Agent, for itself and on behalf of the Initial ABL Claimholders, and the Initial Term Agent, for itself and on behalf of the Initial Term Claimholders it represents, desire to enter into this Agreement (i) to confirm the relative priority of their respective security interests in the assets of the Loan Parties, (ii) to provide for the application, in accordance with such priorities, of proceeds of such assets and properties, and (iii) to address certain other matters. AGREEMENT In consideration of the foregoing, the mutual covenants and obligations herein set forth, and for other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: SECTION 1. DEFINITIONS; RULES OF CONSTRUCTION. 1.1 Defined Terms. Any terms (whether capitalized or lower case) used in this Agreement that are defined in the UCC shall be construed and defined as set forth in the UCC unless otherwise defined herein; provided that to the extent that the UCC is used to define any term used herein and if such term is defined differently in different Articles of the UCC, the definition of such term contained in Article 9 of the UCC shall govern. As used in this Agreement, the following terms shall have the following meanings: “ABL Agent” means, collectively, (i) the Initial ABL Agent and (ii) any Person (including for purposes related to the administration of the ABL Collateral Documents) designated as an agent, administrative agent, trustee, representative, collateral agent or like title or role under any documents Refinancing any ABL Debt. “ABL Borrower Representative” means the “Borrower Representative,” as that term is defined in the Initial ABL Credit Agreement, as in effect on the date hereof. “ABL Cap” means, as of any date of determination, the greater of (i) up to $160,000,000 outstanding under the ABL Credit Agreement or any other ABL Documents (with Letters of Credit and bankers’ acceptances issued thereunder being deemed to have a principal amount equal to the face amount thereof) and (ii) the sum of (A) 75% of the book value (calculated in accordance with GAAP) of the inventory of Holdings and any Restricted Subsidiaries (excluding LIFO reserves) and (B) 90% of the book value of accounts receivable of Holdings and any Restricted Subsidiaries (in each case, calculated on a pro forma basis by the book value set forth on the consolidated balance sheet of Holdings for the most recently ended four full fiscal quarters for which financial statements are available). Bank Product Obligations and ABL Hedging Obligations shall not be subject to the ABL Cap and shall be disregarded in determining whether ABL Debt is Excess ABL Debt or ABL Priority Debt. “ABL Cash Collateral” has the meaning set forth in Section 6.2(a).

- 3 - “ABL Claimholders” means, as of any date of determination, the holders of the ABL Debt at that time, including (i) the ABL Agent, (ii) the ABL Lenders, (iii) the Bank Product Providers in respect of Bank Product Obligations and (iv) the ABL Hedge Providers in respect of ABL Hedge Obligations. “ABL Collateral” means all of the assets of each and every Grantor, whether real, personal or mixed, with respect to which a Lien is granted (or purported to be granted) as security for any ABL Debt, including all proceeds and products thereof, and which, for the avoidance of doubt, shall not include any Excluded Property. “ABL Collateral Documents” means the ABL Security Agreement, the ABL Mortgages and any other agreement, document or instrument pursuant to which a Lien is granted (or purported to be granted) securing any ABL Debt or under which rights or remedies with respect to such Liens are governed. “ABL Credit Agreement” means, collectively, (i) the Initial ABL Credit Agreement and (ii) any other asset-based revolving credit facilities with banks or other institutional or other lenders providing for asset-based revolving credit loans or letters of credit, as such credit facility, in whole or in part, in one or more instances, may be amended, restated, modified, supplemented, extended, renewed, refunded, restructured, Refinanced or replaced or otherwise modified from time to time and whether by the same or any other agent, lender or group of lenders or other party, so long as the agents or representatives of the holders of such indebtedness execute and deliver a joinder to this Agreement reasonably acceptable to the other parties hereto. “ABL Debt” means all Obligations (as that term is defined in the Initial ABL Credit Agreement or any other ABL Credit Agreement) and all other amounts owing, due or secured under the terms of the ABL Credit Agreement or any other ABL Document, whether now existing or arising hereafter, including all principal, premium, interest, fees, attorneys’ fees, costs, charges, expenses, reimbursement obligations, obligations with respect to loans, Letters of Credit, ABL Hedging Obligations, Bank Product Obligations, obligations to provide cash collateral in respect of Letters of Credit or Bank Product Obligations or indemnities in respect thereof, any other indemnities or guarantees, and all other amounts payable under or secured by any ABL Document (including, in each case, all amounts accruing on or after the commencement of any Insolvency Proceeding relating to any Grantor, or that would have accrued or become due under the terms of the ABL Documents but for the effect of the Insolvency Proceeding and irrespective of whether a claim for all or any portion of such amounts is allowable or allowed in such Insolvency Proceeding), in each case whether direct or indirect, absolute or contingent, joint or several, due or not due, primary or secondary, liquidated or unliquidated, secured or unsecured. “ABL Default” means any “Event of Default”, as that term is defined in the ABL Credit Agreement. “ABL Default Disposition” has the meaning set forth in Section 5.1(h). “ABL Deficiency Claim” means any portion of the ABL Debt consisting of an allowed unsecured claim under Section 506(a) of the Bankruptcy Code (or any similar provision under any other Bankruptcy Law). “ABL DIP Financing” has the meaning set forth in Section 6.2(a). “ABL DIP Financing Conditions” means that:

- 4 - (i) (A) the Term Agent retains its Liens with respect to the Collateral that existed as of the date of the commencement of the applicable Insolvency Proceeding (including proceeds thereof arising after the commencement of such Insolvency Proceeding), (B) as to the Term Priority Collateral that existed as of the date of the commencement of such Insolvency Proceeding (including proceeds thereof arising after the commencement of such Insolvency Proceeding), the Term Agent’s Liens with respect to such Term Priority Collateral remain senior and prior to the Liens (inclusive of any Liens securing the ABL DIP Financing) of the ABL Agent or any other provider of ABL DIP Financing with respect to such Term Priority Collateral, and (C) as to Term Priority Collateral acquired by the applicable Grantor after the commencement of such Insolvency Proceeding (excluding proceeds of Term Priority Collateral existing prior to the commencement of such Insolvency Proceeding), either (x) neither the ABL Claimholders nor the Term Claimholders obtain a Lien with respect to such Term Priority Collateral or (y) if a Lien with respect to such Term Priority Collateral is granted to secure the ABL DIP Financing, then the Term Agent obtains a Lien with respect to such Term Priority Collateral and the Liens with respect to such Term Priority Collateral securing the ABL DIP Financing are junior and subordinate to the Liens of the Term Agent with respect to such Term Priority Collateral; (ii) all Liens on ABL Priority Collateral securing any such ABL DIP Financing shall be senior to or on a parity with the Liens of the ABL Agent securing the ABL Debt on ABL Priority Collateral; (iii) the proposed ABL Cash Collateral use or ABL DIP Financing does not compel any Grantor to seek confirmation of a specific plan of reorganization for which all or substantially all of the material terms are set forth in the ABL Cash Collateral order or ABL DIP Financing documentation, as applicable; (iv) the proposed ABL Cash Collateral order or ABL DIP Financing documentation does not expressly require the sale of all or substantially all of the Term Priority Collateral prior to a default under the ABL Cash Collateral order or ABL DIP Financing documentation; and (v) any of the ABL Claimholders may seek adequate protection, to the extent, but only to the extent, expressly permitted under this Agreement. “ABL Documents” means the ABL Credit Agreement, the ABL Collateral Documents, each of the other “Loan Documents” (as that term is defined in the ABL Credit Agreement) and each of the other agreements, documents and instruments executed pursuant thereto or in connection therewith. “ABL Hedge Provider” means a “Hedge Bank” (or similar term) as defined in the ABL Credit Agreement. “ABL Hedging Obligations” means any obligations arising under a “Swap Contract” (or similar term) (as defined in the ABL Credit Agreement) that are owed to an ABL Hedge Provider. “ABL Lenders” means, as of any date of determination, the holders of the ABL Debt at that time, including the Initial ABL Lenders. “ABL Mortgages” means each Mortgage under which any Lien on Real Property or Fixtures owned or leased by any Grantor is granted to secure any ABL Debt or under which rights or remedies with respect to any such Liens are governed.

- 5 - “ABL Priority Collateral” means all rights, title and interests of each Grantor in the following Collateral, in each case, whether now owned or existing or hereafter acquired or arising and wherever located, including, without duplication, (a) all rights of each Grantor to receive moneys due and to become due under or pursuant to the following, (b) all rights of each Grantor to receive return of any premiums for or Proceeds of any insurance, indemnity, warranty or guaranty with respect to the following or to receive condemnation Proceeds with respect to the following, (c) all claims of each Grantor for damages arising out of or for breach of or default under any of the following and (d) all rights of each Grantor to terminate, amend, supplement, modify or waive performance under any of the following, to perform thereunder and to compel performance and otherwise exercise all remedies thereunder: (i) all Accounts, but solely for purposes of this clause (i), excluding rights to payment for any property which specifically constitutes Term Priority Collateral that has been sold, leased, licensed, assigned or otherwise disposed of; provided, however, that, for the avoidance of doubt, all rights to payment arising from any sale, lease, license, assignment or other disposition of Inventory or Goods (other than Fixtures or Equipment) or the provision of services shall constitute ABL Priority Collateral; (ii) all Chattel Paper; (iii) all Deposit Accounts, Securities Accounts and all other demand, deposit, time, savings, cash management, passbook and similar accounts maintained with any bank or other financial institution (other than to the extent any such Deposit Accounts, Securities Accounts or other accounts solely contain identifiable Proceeds of any Term Priority Collateral) and all cash, money, securities, Instruments and other investments deposited or required to be deposited in any of the foregoing; (iv) all Inventory and all rights to receive payments, indebtedness and other obligations which arise as a result of the sale, lease or other disposition of Inventory or Goods (in each case other than Fixtures or Equipment) or provision of services, including the right to payment of interest or finance charges; (v) all cash, Money and Cash Equivalents (other than (1) identifiable Proceeds of any Term Priority Collateral and (2) cash solely for so long as it is pledged to third parties to the extent permitted under Sections 7.01(f), (g) or (s) of the Initial ABL Credit Agreement or any equivalent provisions in any successor ABL Credit Agreement); (vi) to the extent evidencing or governing any of the items referred to in the preceding clauses (i) through (v), all General Intangibles (excluding Equity Interests and any Intellectual Property to the extent such Intellectual Property is not attached to or necessary to sell any item of Inventory), letters of credit (whether or not the respective letter of credit is evidenced by a writing), Letter-of-Credit Rights, Instruments and Documents; provided that to the extent any of the foregoing also relates to any Term Priority Collateral, only that portion related to the items referred to in the preceding clauses (i) through (v) as being included in the ABL Priority Collateral shall be included in the ABL Priority Collateral; (vii) to the extent relating to any of the items referred to in the preceding clauses (i) through (vi), all insurance; provided that to the extent any of the foregoing also relates to Term Priority Collateral, only that portion related to the items referred to in the preceding clauses (i) through (vi) as being included in the ABL Priority Collateral shall be included in the ABL Priority Collateral;

- 6 - (viii) to the extent relating to any of the items referred to in the preceding clauses (i) through (vii), all Supporting Obligations; provided that to the extent any of the foregoing also relates to Term Priority Collateral, only that portion related to the items referred to in the preceding clauses (i) through (vii) as being included in the ABL Priority Collateral shall be included in the ABL Priority Collateral; (ix) to the extent relating to any of the items referred to in the preceding clauses (i) through (viii), all Commercial Tort Claims; provided that to the extent any of the foregoing also relates to Term Priority Collateral, only that portion related to the items referred to in the preceding clauses (i) through (viii) as being included in the ABL Priority Collateral shall be included in the ABL Priority Collateral; (x) all Books and records, including all books, databases, customer lists and records related thereto and any General Intangibles at any time evidencing or relating to any of the foregoing; and (xi) all cash Proceeds and, solely to the extent not constituting Term Priority Collateral, non-cash Proceeds, products, accessions, rents and profits of or in respect of any of the foregoing (including all insurance Proceeds) and all collateral security, guarantees and other collateral support given by any Person with respect to any of the foregoing; provided, however, that (x) if Collateral of any type is received in exchange for ABL Priority Collateral pursuant to an Enforcement Action or during an Insolvency Proceeding, such Collateral will be treated as ABL Priority Collateral and (y) if Collateral of any type is received in exchange for Term Priority Collateral pursuant to an Enforcement Action or during an Insolvency Proceeding, such Collateral will be treated as Term Priority Collateral. For the avoidance of doubt, no Excluded Property shall constitute ABL Priority Collateral. “ABL Priority Debt” means all ABL Debt other than Excess ABL Debt. “ABL Priority Standstill Period” has the meaning set forth in Section 3.1. “ABL Purchase Notice” has the meaning set forth in Section 10.1(a). “ABL Purchase Option Period” has the meaning set forth in Section 10.1(a). “ABL Purchase Option Trigger” means any of the following events: (i) the acceleration of the maturity date of all or a portion of the Term Debt pursuant to the Term Documents; (ii) the commencement of Enforcement Action against the Term Priority Collateral by the Term Agent; or (iii) the commencement of an Insolvency Proceeding with respect to any Grantor. “ABL Secured Claim” means any portion of the ABL Debt not constituting an ABL Deficiency Claim. “ABL Security Agreement” means the “Security Agreement”, as that term is defined in the Initial ABL Credit Agreement as in effect on the date hereof. “Act of Required Secured Parties” shall have the meaning ascribed to such term in the Term Intercreditor Agreement.

- 7 - “Additional Joinder Agreement” shall mean a joinder agreement in the form of Exhibit A hereto. “Additional Term Agent” means each Person appointed to act as trustee, agent or representative for the holders of Additional Term Debt pursuant to any Additional Term Debt Agreement for the purpose of receiving a lien on the collateral pledged as security for such Additional Term Debt. “Additional Term Debt” means indebtedness and other obligations (including, for the avoidance of doubt, Term Hedging Obligations) of the Grantors issued or incurred following the date of this Agreement to the extent (i) such indebtedness is, or other obligations are, designated in writing to each Agent as “Additional Term Debt” by Holdings, (ii) such indebtedness or other obligation is not prohibited by the terms of the ABL Credit Agreement, the Indenture, any other Term Credit Facility Agreement or any other Additional Term Debt Agreement from being secured by Liens on the Collateral, (iii) if applicable, the Grantors have granted new Liens, on or about the closing date of such indebtedness or other obligations, on the Collateral to secure the obligations in respect of such indebtedness or other obligations and (iv) the Additional Term Agent (to the extent not already a party to this Agreement) and the Additional Term Representative, in each case, for the holders of such indebtedness or obligations, has entered into an Additional Joinder Agreement on behalf of the Term Claimholders under such agreement acknowledging that such holders shall be bound by the terms hereof applicable to Term Claimholders. “Additional Term Debt Agreement” means the indenture, credit agreement, ISDA agreement (including any Term Hedge Agreement) or other agreement under or by which any Additional Term Debt is incurred. “Additional Term Representative” means (i) each Person appointed to act as trustee, agent or representative for the holders of Additional Term Debt, and/or (ii) each Term Hedge Provider, in each case, pursuant to any Additional Term Debt Agreement for purposes other than receiving a lien on the collateral pledged as security for such Additional Term Debt. “Affiliate” means, with respect to any Person, another Person that directly, or indirectly through one or more intermediaries, controls or is controlled by or is under common control with the Person specified. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control with”), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. “Agent” means the ABL Agent or the Term Agent, or both, as the context requires. “Agreement” has the meaning set forth in the preamble hereto. “Bank Product Obligations” means any obligations arising under a “Secured Cash Management Agreement” (or similar term) (as defined in the ABL Credit Agreement) that are owed to a Bank Product Provider. “Bank Product Provider” means a “Cash Management Bank” (or similar term) (as defined in the ABL Credit Agreement). “Bankruptcy Code” means Title 11 of the United States Code.

- 8 - “Bankruptcy Law” means the Bankruptcy Code and any other federal, state or foreign law for relief of debtors. “Books” means books, records, ledger cards, files, correspondence, customer lists, supplier lists, blueprints, technical specifications, manuals, computer software and related documentation, computer printouts, tapes, disks and related data processing software and similar items that at any time evidence, indicate, summarize or contain information relating to any assets (including the Collateral) or liabilities of any Grantor or any Grantor’s business operations or financial condition. “Business Day” means a day other than a Saturday, Sunday or other day on which banking institutions are authorized or required by law to close in New York City or the place of payment. “Capital Stock” means: (i) in the case of a corporation, corporate stock or shares; (ii) in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock; (iii) in the case of a partnership or limited liability company, partnership or membership interests (whether general or limited); and (iv) any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. “Casualty Receipt” means any cash received by or paid to any Person as a result of proceeds of insurance (other than proceeds of business interruption insurance to the extent such proceeds constitute compensation for lost earnings) and condemnation awards (and payments in lieu thereof); provided, however, that a Casualty Receipt shall not include cash receipts from proceeds of insurance or condemnation awards (or payments in lieu thereof) or indemnity payments to the extent that such proceeds or awards (i) are received by such Person in respect of loss or damage to inventory, equipment, fixed assets or real property and are applied (or in respect of which expenditures were previously incurred) to replace or repair the inventory, equipment, fixed assets or real property in respect of which such proceeds were received or to acquire or construct other assets useful in the business of the Person and/or its Subsidiaries in accordance with the applicable Loan Documents or (ii) are received by such Person in respect of any third party claim against, or liability of, such Person and are applied to pay (or to reimburse such Person for its prior payment of) such claim or liability and the costs and expenses of such Person with respect thereto. “Claimholders” means the ABL Claimholders and the Term Claimholders, or any one of them. “Coal” means coal owned by Holdings or any of its Subsidiaries, or coal that Holdings or any of its Subsidiaries has the right to extract, in each case located on, under or within, or produced or severed from Real Property owned by, or leased or licensed to, Holdings or any of its Subsidiaries. “Collateral” means all of the assets of each and every Grantor, whether real, personal or mixed, constituting ABL Collateral or Term Collateral. “Collateral Documents” means the ABL Collateral Documents or the Term Collateral Documents, as the context requires. “Collateral Proceeds” means proceeds received by any Grantor or any Subsidiary of a Grantor or any Claimholder in respect of any Casualty Receipt or Disposition or series of related Dispositions (whether as a result of an Enforcement Action, a Disposition or series of related Dispositions by one or more of the Grantors, or otherwise).

- 9 - “Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement, document, mortgage, deed of trust, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. “Debt” means the ABL Debt or the Term Debt, as the context requires. “Disposition”, “Dispose” or “Disposing” means the sale, transfer, license, lease or other disposition (including any sale and leaseback transaction) of any property by any Person (or the granting of any option or other similar right), including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable, or any rights and claims associated therewith or entering into an agreement to do the same. “Enforcement Action” means any of the following taken after the occurrence of an ABL Default or a Term Default, as applicable: (i) the taking of any action to enforce any Lien in respect of the Collateral, including the institution of any foreclosure proceedings or the noticing of any public or private sale or other disposition pursuant to Article 9 of the UCC or other applicable law, or the taking of any action in an attempt to vacate or obtain relief from a stay or other injunction restricting any other action described in this definition; (ii) the exercise of any right or remedy provided to a secured creditor under the ABL Documents or the Term Documents (including, in either case, any delivery of any notice to seek to obtain payment directly from any account debtor of any Grantor or any depositary bank, securities intermediary or other person obligated on any Collateral of any Grantor, the taking of any action or the exercise of any right or remedy in respect of the Collateral, or the exercise of any right of setoff or recoupment with respect to obligations owed to any Grantor), under applicable law, at equity, in an Insolvency Proceeding or otherwise, including the acceptance of Collateral in full or partial satisfaction of an obligation; (iii) the Disposition by a Claimholder of all or any portion of the Collateral, by private or public sale or any other means; (iv) the solicitation of bids from third parties to conduct the Disposition by a Claimholder of all or a material portion of the Collateral to the extent undertaken and being diligently pursued in good faith to consummate the Disposition by a Claimholder of such Collateral within a commercially reasonable time; (v) the engagement or retention by a Claimholder of sales brokers, marketing agents, investment bankers, accountants, appraisers, auctioneers or other third parties for the purpose of valuing, marketing or Disposing by a Claimholder of all or a material portion of the Collateral to the extent undertaken and being diligently pursued in good faith to consummate the Disposition by a Claimholder of such Collateral within a commercially reasonable time; (vi) the exercise of any other enforcement right relating to the Collateral (including the exercise of any voting rights relating to any Equity Interests composing a portion of the Collateral) whether under the ABL Documents, the Term Documents, under applicable law of any jurisdiction, in equity, in an Insolvency Proceeding or otherwise (including the commencement of applicable legal proceedings or other actions with respect to all or a material portion of the Collateral to facilitate the actions described in the preceding clauses); and

- 10 - (vii) the pursuit of ABL Default Dispositions or Term Default Dispositions relative to all or a material portion of the Collateral to the extent undertaken and being diligently pursued in good faith to consummate the Disposition of such Collateral within a commercially reasonable time. For the avoidance of doubt, the following shall not constitute an Enforcement Action: (a) the imposition of a default rate or a late fee, (b) the suspension or termination of the commitments to lend under the ABL Documents or under the Term Documents, (c) the consent by the ABL Agent or the requisite ABL Lenders to the disposition by any Grantor of any of the ABL Priority Collateral (other than an ABL Default Disposition with respect to a material portion of the ABL Priority Collateral), (d) the consent by the Term Agent or the requisite Term Lenders to the disposition by any Grantor of any of the Term Priority Collateral (other than a Term Default Disposition with respect to a material portion of the Term Priority Collateral), (e) the filing of a proof of claim in any Insolvency Proceeding or the seeking of adequate protection in accordance with the terms of this Agreement, (f) the acceleration of the Term Debt or the ABL Debt and (g) the exercise of cash dominion with respect to any deposit account based on the amount of Availability (as that term is defined in the ABL Credit Agreement). “Enforcement Notice” means a written notice delivered by either the ABL Agent or the Term Agent to the other stating (i) that an ABL Default or a Term Default, as applicable, has occurred and is continuing under any ABL Credit Agreement or any Term Credit Facility Agreement, as applicable, and specifying the nature of the relevant event of default, and (ii) that an Enforcement Period has commenced with respect to the applicable Priority Collateral. “Enforcement Period” means the period of time following the receipt by either the ABL Agent or the Term Agent of an Enforcement Notice from the other and continuing until the earliest of (i) in case of an Enforcement Period commenced by Term Agent, the Payment in Full of Term Priority Debt, (ii) in the case of an Enforcement Period commenced by the ABL Agent, the Payment in Full of ABL Priority Debt and (iii) the ABL Agent or the Term Agent (as applicable) terminates the Enforcement Period (including in connection with a waiver or cure of each event of default that gave rise to such Enforcement Notice) by written notice delivered to the other. “Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock). “Excess ABL Debt” means the sum of (i) the amount by which the principal amount of the loans and (to the extent not constituting loans under the ABL Credit Agreement) reimbursement obligations with respect to drawn Letters of Credit outstanding under the ABL Documents and the undrawn amount of Letters of Credit outstanding under the ABL Documents exceeds the ABL Cap, plus (ii) the portion of interest, premium and fees that accrues or is charged with respect to that portion of the principal amount of the loans, reimbursement obligations and Letters of Credit described in clause (i) of this definition. “Excess Term Debt” means the sum of (i) the amount by which the principal amount of the notes or loans outstanding under the Term Documents exceeds the Term Cap, plus (ii) the portion of interest, premium and fees that accrues or is charged with respect to that portion of the principal amount of the notes and loans in clause (i) of this definition. “Excluded Property” means (i) any assets described as “Excluded Assets” in the ABL Security Agreement or “Excluded Assets” in the Term Credit Facility Agreement and (ii) any other assets of any Grantor, whether real, personal or mixed, with respect to which a Lien is not granted (and not

- 11 - purported to be granted) as security for the ABL Debt or the Term Debt (excluding, for the avoidance of doubt, any asset that, but for the application of Section 552 of the Bankruptcy Code (or any provision of any other Bankruptcy Law), would constitute Collateral). “Final Order” means an order of a court of competent jurisdiction as to which the time to appeal, petition for certiorari or move for re-argument or rehearing has expired and as to which no appeal, petition for certiorari or other proceedings for re-argument or rehearing shall then be pending or, in the event that an appeal, writ of certiorari or re-argument or rehearing thereof has been filed or sought, such order shall have been affirmed or confirmed by the highest court to which such order was appealed, or from which certiorari, re-argument or rehearing was sought, and the time to take any further appeal, petition for certiorari or move for re-argument or rehearing shall have expired; provided that the possibility that a motion under Rule 59 or Rule 60 of the Federal Rules of Civil Procedure or any analogous rule under the Federal Rules of Bankruptcy Procedure or applicable state court rules of civil procedure may be filed with respect to such order shall not cause such order not to be a Final Order. “GAAP” means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board (or agencies with similar functions and comparable stature and authority within the accounting profession), which are in effect on the date hereof. “Governmental Authority” means the government of the United States or any other nation, or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). “Grantors” means the Loan Parties and each other person that may, from time to time, execute and deliver an ABL Collateral Document or a Term Collateral Document as a “debtor,” “grantor,” “obligor” or “pledgor” (or the equivalent thereof) or that may, from time to time, be (or whose assets may be) subject to a judgment lien in favor of any of the ABL Claimholders or any of the Term Claimholders in respect of the ABL Debt or the Term Debt, as applicable, and “Grantor” means any one of them. “Guarantors” has the meaning set forth in the recitals to this Agreement and “Guarantor” means any one of them. “Holdings” has the meaning set forth in the recitals to this Agreement. “Indenture” has the meaning set forth in the recitals to this Agreement. “Inalienable Interests” has the meaning set forth in Section 4.4. “Initial ABL Agent” has the meaning set forth in the preamble to this Agreement. “Initial ABL Claimholders” means, as of any date of determination, the holders of the “Obligations”, as that term is defined in the Initial ABL Credit Agreement, at that time, including (i) the Initial ABL Agent, (ii) the Initial ABL Lenders, (iii) the Bank Product Providers and (iv) the ABL Hedge Providers.

- 12 - “Initial ABL Credit Agreement” has the meaning set forth in the recitals to this Agreement. “Initial ABL Lenders” means the “Lenders”, as that term is defined in the Initial ABL Credit Agreement (including each L/C Issuer and the Swingline Lender (as those terms are defined in the Initial ABL Credit Agreement)). “Initial Noteholders” means the holders from time to time of the Initial Notes. “Initial Notes” has the meaning set forth in the recitals to this Agreement. “Initial Term Agent” has the meaning set forth in the preamble to this Agreement. “Initial Term Claimholders” means, as of any date of determination, the holders of the “Obligations”, as that term is defined in the Term Credit Facility Agreement, at that time, including (i) the Initial Term Agent, (ii) the Initial Term Representative and (iii) the Initial Noteholders. “Initial Term Representative” has the meaning set forth in the preamble to this Agreement. “Insolvency Proceeding” means: (i) any voluntary or involuntary case or proceeding under any Bankruptcy Law with respect to any Grantor; (ii) any other voluntary or involuntary insolvency or bankruptcy case or proceeding, or any receivership, liquidation or other similar case or proceeding with respect to any Grantor or with respect to a material portion of its assets; (iii) any liquidation, dissolution or winding up of any Grantor (other than any of the foregoing permitted under the ABL Documents and the Term Documents) whether voluntary or involuntary and whether or not involving insolvency or bankruptcy; or (iv) any assignment for the benefit of creditors or any other marshaling of assets or liabilities of any Grantor. “Intellectual Property” means all intellectual property of every kind and nature and any other similar intangible rights throughout the world, including inventions, designs, patents, copyrights, licenses, trademarks and service marks (including the goodwill connected with the use thereof and symbolized thereby), domain names, trade secrets, confidential or proprietary technical and business information, know-how or other confidential or proprietary data or information, technology, processes, software and databases, together with any and all (i) rights and privileges arising under applicable law with respect to the foregoing, (ii) income, fees, royalties, damages, claims and payments now or hereafter due and/or payable with respect thereto, including, without limitation, damages and payments for past, present or future infringements thereof, (iii) rights to sue for past, present or future infringements thereof and (iv) rights corresponding thereto throughout the world. “Junior 507(b) Claims” has the meaning set forth in Section 6.5(a)(vi). “Junior Agent” means, with respect to the ABL Priority Collateral, the Term Agent, and with respect to the Term Priority Collateral, the ABL Agent.

- 13 - “Junior Claimholders” means, with respect to the ABL Priority Collateral, the Term Claimholders, and with respect to the Term Priority Collateral, the ABL Claimholders. “Junior Collateral” means, with respect to the ABL Debt, all Term Priority Collateral, and with respect to the Term Debt, all ABL Priority Collateral. “Junior Debt” means, with respect to the ABL Priority Collateral, the Term Debt, and with respect to the Term Priority Collateral, the ABL Debt. “Letters of Credit” means the “Letters of Credit”, as that term is defined in the ABL Credit Agreement. “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any financing lease having substantially the same economic effect as any of the foregoing). “Loan Documents” means ABL Documents or Term Documents, as the context requires. “Loan Parties” has the meaning specified in the recitals to this Agreement. “Material Owned Real Property” means (i) as of the date of this Agreement, all Real Property consisting of a fee or surface estate located in Tuscaloosa County or Jefferson County, Alabama owned by Holdings or any other Grantor that is essential to Holdings’ mine plan or surface operations (including the transportation and/or shipping of coal, support for mining activities and maintenance of underground and surface equipment) for the period from the date hereof to December 1, 2028 as determined by Holdings on the date hereof in its reasonable judgment, as set forth on the Schedule of Owned Real Property attached as Schedule 10(a) to the Term Security Agreement, and (ii) any other Real Property consisting of a fee or surface estate that Holdings or any other Grantor acquires an ownership interest in after the date hereof for the purpose of mining or conducting mining operations on such Real Property (including, without limitation, extraction of coal and other minerals and the processing and transport thereof) the fair value of which, as of the date of acquisition thereof, is equal to or greater than $10,000,000 as determined by the applicable tax assessor. “Mine” means any excavation or opening into the earth in the United States now and hereafter made from which coal or other minerals are or can be extracted on or from any of the real properties in which any Person holds an ownership, leasehold or other interest. “Mortgaged Property” means all Real Property and Fixtures subject to the Mortgages. “Mortgages” means each deed of trust, trust deed, deed to secure debt, and mortgage on Real Property or Fixtures owned by any Grantor that is granted to secure any ABL Debt or Term Debt or under which rights or remedies with respect to any such Liens are governed, in each case as amended, restated, supplemented or otherwise modified from time to time. “Noteholders” means the Initial Noteholders and all other “holders” from time to time under the Indenture.

- 14 - “Ordinary Course Collections” has the meaning set forth in Section 4.1(b). “Payment in Full of ABL Priority Debt” means, except to the extent otherwise expressly provided in Section 5.5 or in Section 6.8, the indefeasible payment in full in cash of the ABL Priority Debt (other than ABL Hedging Obligations and Bank Product Obligations and indemnity and other contingent obligations as to which no claim has been asserted), the cancellation or expiration of all Letters of Credit issued under the ABL Credit Agreement (unless cash collateralized, otherwise collateralized with “back to back” letters of credit or otherwise supported on terms reasonably acceptable to the applicable letter of credit issuer), and the termination of all commitments thereunder. “Payment in Full of Priority Debt” means, (i) if the Term Debt constitutes the Priority Debt, the Payment in Full of Term Priority Debt, and (ii) if the ABL Debt constitutes the Priority Debt, the Payment in Full of ABL Priority Debt. “Payment in Full of Term Priority Debt” means, except to the extent otherwise expressly provided in Section 5.5 or in Section 6.8, the indefeasible payment in full in cash of the Term Priority Debt (other than indemnity and other contingent obligations as to which no claim has been asserted), and the termination of all commitments thereunder. “Person” or “person” means any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. “Pledged Collateral” has the meaning set forth in Section 5.4(a). “Post-Petition Interest” means interest, fees, expenses and other charges that, pursuant to the Term Documents or the ABL Documents, continue to accrue (or which would, absent commencement of an Insolvency Proceeding, accrue) after the commencement of any Insolvency Proceeding, whether or not such interest, fees, expenses and other charges are allowed or allowable under Bankruptcy Law or in any such Insolvency Proceeding. “Priority Agent” means, with respect to the ABL Priority Collateral, the ABL Agent, and with respect to the Term Priority Collateral, the Term Agent. “Priority Claimholders” means, with respect to the ABL Priority Collateral, the ABL Claimholders, and with respect to the Term Priority Collateral, the Term Claimholders. “Priority Collateral” means, with respect to the ABL Debt, all ABL Priority Collateral, and with respect to the Term Debt, all Term Priority Collateral. “Priority Debt” means, with respect to the ABL Priority Collateral, the ABL Debt, and with respect to the Term Priority Collateral, the Term Debt. “Real Property” shall mean, collectively, all right, title and interest (including any leasehold estate) in and to any and all parcels of or interests in real property owned, leased or operated by any Person, whether by lease, license or other means, together with, in each case, all improvements, fixtures, easements, hereditaments, permits and appurtenances relating thereto. “Receivables” means all of the following now owned or hereafter arising or acquired assets of any Grantor: (i) all Accounts constituting ABL Priority Collateral pursuant to clause (i) of the definition of ABL Priority Collateral; (ii) all amounts at any time payable to any Grantor in respect of the

- 15 - sale or other Disposition of any such Accounts; (iii) all interest, fees, late charges, penalties, collection fees and other amounts due or to become due or otherwise payable in connection with any such Accounts; (iv) all payment intangibles other than payment intangibles that constitute the identifiable proceeds of Term Priority Collateral or are otherwise excluded from being ABL Priority Collateral pursuant to clause (i) of the definition thereof; (v) all other contract rights, chattel paper, instruments or other forms of rights to payment, in each case arising from the sale, lease or other Disposition of Inventory, the licensing of Inventory and the rendition of services or otherwise related to any Accounts described in clause (i) above or Inventory of a Grantor (including, choses in action, causes of action or other rights and claims against carriers or shippers, rights to indemnification and identifiable proceeds thereof, and casualty or similar types of insurance, in each case relating to ABL Priority Collateral, and identifiable proceeds thereof); and (vi) all other rights to payment in which any Grantor has an interest, whether evidenced by promissory notes or otherwise, and whether consisting of accounts, instruments, general intangibles or other rights to payment, in each case in this clause (vi) arising out of, relating to, derivative of or constituting proceeds of the assets included in the definition of ABL Priority Collateral or in the preceding clauses (i) through (v) of this definition. “Recovery” has the meaning set forth in Section 6.8. “Refinance” means, in respect of any indebtedness or any commitment to extend credit (and the documents governing such indebtedness or commitment to extend credit), to refinance, amend and restate, extend, renew, supplement, restructure, replace, refund or repay, or to issue other indebtedness or commitment to extend credit in exchange or replacement for such indebtedness, in whole or in part, whether with the same or different lenders, arrangers, or agents. “Refinanced” and “Refinancing” shall have correlative meanings. “Related Mining Assets” means (i) Coal washing and processing facilities, (ii) Coal loading and shipping facilities, including without limitation, if owned, barges and railcars, (iii) computer and control systems utilized for operation or management of any of the foregoing and (iv) contracts with the Port of Mobile, Alabama providing the right to use the McDuffie Coal Terminal for export of Coal. “Reserve Area” means any real property constituting coal reserves or access to coal reserves that is not an active Mine in which any Person holds an ownership, leasehold or other interest. “Senior 507(b) Claims” has the meaning set forth in Section 6.5(a)(v). “Subsidiary” means, with respect to any Person, (i) any corporation, association or other business entity (other than a partnership, joint venture or limited liability company) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time of determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof, and (ii) any partnership, joint venture or limited liability company of which (A) more than 50% of the capital accounts, distribution rights, total equity and voting interests or general and limited partnership interests, as applicable, are owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof, whether in the form of membership, general, special or limited partnership interests or otherwise, and (B) such Person or any Subsidiary of such Person is a controlling general partner or otherwise controls such entity. “Term Agent” means, collectively, (i) the Initial Term Agent, (ii) any Additional Term Agent, and (iii) any Person (including for purposes related to the administration of the Term Collateral Documents) designated as an agent, administrative agent, trustee, representative, collateral agent or like

- 16 - title or role under any documents Refinancing any Term Debt for the purpose of receiving a lien on the collateral pledged as security for such Refinancing Term Debt; provided that, notwithstanding anything to the contrary, any reference to the Term Agent in any provision of this Agreement requiring the consent, waiver or exercise of any right, power or discretion on the part of the Term Agent shall mean, at any time that there is more than one Term Agent, the Initial Term Agent acting as controlling Term Agent in accordance with and subject to the terms of the Term Intercreditor Agreement, unless the ABL Agent receives written notification signed by an Additional Term Agent indicating that pursuant to the Term Intercreditor Agreement it shall be deemed the controlling Term Agent hereunder. “Term Cap” means, as of any date of determination, (i) $350,000,000, plus (ii) the sum of (A) $130,000,000, plus (B) the amount of Term Debt such that, after giving pro forma effect to such incurrence and the application of the net proceeds therefrom, the Priority Secured Leverage Ratio (as defined in the Indenture as of the date hereof) would not exceed 1.50 to 1.00, plus (C) the amount of Term Debt such that, after giving pro forma effect to such incurrence and the application of the net proceeds therefrom, the Secured Leverage Ratio (as defined in the Indenture as of the date hereof) would not exceed 4.00 to 1.00, plus (D) without duplication, the aggregate principal amount of any interest accruing from the principal amount of indebtedness as set forth in clauses (A), (B) and (C) herein that has been capitalized under the Term Facility Credit Agreement. Term Hedging Obligations shall not be subject to the Term Cap and shall be disregarded in determining whether Term Debt is Excess Term Debt or Term Priority Debt. “Term Cash Collateral” has the meaning set forth in Section 6.2(b). “Term Claimholders” means, as of any date of determination, the holders of the Term Debt at that time, including (A) the Term Agent, (B) any Term Representative, (C) the Noteholders, (D) Term Hedge Providers in respect of Term Hedging Obligations, and (E) any holders of Additional Term Debt (other than Term Hedging Obligations). “Term Collateral” means all of the assets of each and every Grantor, whether real, personal or mixed, with respect to which a Lien is granted (or purported to be granted) as security for any Term Debt, including all proceeds and products thereof, and which, for the avoidance of doubt, shall not include any Excluded Property. “Term Collateral Documents” means the Term Security Agreement, the Term Mortgages and any other agreement, document or instrument pursuant to which a Lien is granted (or purported to be granted) securing the Notes or any other Term Debt or under which rights or remedies with respect to such Liens are governed. “Term Credit Facility Agreement” means, collectively, (i) the Indenture, (ii) any Additional Term Debt Agreement and (iii) any other credit agreement or debt facility that is secured by the Collateral , as such credit agreement or debt facility, in whole or in part, in one or more instances, may be amended, restated, modified, supplemented, extended, renewed, refunded, restructured, Refinanced or replaced or otherwise modified from time to time and whether by the same or any other agent, lender or group of lenders or other party, so long as the agents or representatives of the holders of such indebtedness execute and deliver (i) a joinder to this Agreement reasonably acceptable to the other parties hereto and (ii) if after such Refinancing there are multiple Term Credit Facility Agreements, the Term Intercreditor Agreement. Any reference to the Term Credit Facility Agreement hereunder shall be deemed a collective reference to all Term Credit Facility Agreements then in existence. “Term Debt” means all Obligations (as that term is defined in the Indenture or any other Term Credit Facility Agreement) and all other amounts owing, due or secured under the terms of the

- 17 - Indenture, any other Term Credit Facility Agreement or any other Term Document, including Additional Term Debt, whether now existing or arising hereafter, including all principal, premium, interest, fees, attorneys’ fees, costs, charges, expenses, reimbursement obligations, obligations with respect to loans, Term Hedging Obligations, any indemnities or guarantees, and all other amounts payable under or secured by any Term Credit Facility Agreement (including, in each case, all amounts accruing on or after the commencement of any Insolvency Proceeding relating to any Grantor, or that would have accrued or become due under the terms of the Term Documents but for the effect of the Insolvency Proceeding and irrespective of whether a claim for all or any portion of such amounts is allowable or allowed in such Insolvency Proceeding), in each case whether direct or indirect, absolute or contingent, joint or several, due or not due, primary or secondary, liquidated or unliquidated, secured or unsecured. “Term Default” means any “Event of Default”, as that term is defined in any Term Credit Facility Agreement or any “Event of Default” or “Termination Event”, as those terms are defined in any Term Hedge Agreement. “Term Default Disposition” has the meaning set forth in Section 5.1(i). “Term Deficiency Claim” means any portion of the Term Debt consisting of an allowed unsecured claim under Section 506(a) of the Bankruptcy Code (or any similar provision under any other Bankruptcy Law). “Term DIP Financing” has the meaning set forth in Section 6.2(b). “Term DIP Financing Conditions” means that: (i) (A) the ABL Agent retains its Liens with respect to the Collateral that existed as of the date of the commencement of the applicable Insolvency Proceeding (including proceeds thereof arising after the commencement of such Insolvency Proceeding), (B) as to the ABL Priority Collateral that existed as of the date of the commencement of such Insolvency Proceeding (including proceeds thereof arising after the commencement of such Insolvency Proceeding), the ABL Agent’s Liens with respect to such ABL Priority Collateral remain senior and prior to the Liens (inclusive of any Liens securing the Term DIP Financing) of the Term Agent or any other provider of Term DIP Financing with respect to such ABL Priority Collateral, and (C) as to ABL Priority Collateral acquired by the applicable Grantor after the commencement of such Insolvency Proceeding (excluding proceeds of ABL Priority Collateral existing prior to the commencement of such Insolvency Proceeding), either (x) neither the ABL Claimholders nor the Term Claimholders obtain a Lien with respect to such ABL Priority Collateral or (y) if a Lien with respect to such ABL Priority Collateral is granted to secure the Term DIP Financing, then the ABL Agent obtains a Lien with respect to such ABL Priority Collateral and the Liens with respect to such ABL Priority Collateral securing the Term DIP Financing are junior and subordinate to the Liens of the ABL Agent with respect to such ABL Priority Collateral; (ii) all Liens on Term Priority Collateral securing any such Term DIP Financing shall be senior to or on a parity with the Liens of the Term Agent securing the Term Debt on the Term Priority Collateral; (iii) the proposed Term Cash Collateral use or Term DIP Financing does not compel any Grantor to seek confirmation of a specific plan of reorganization for which all or substantially all of the material terms are set forth in the Term Cash Collateral order or Term DIP Financing documentation, as applicable;

- 18 - (iv) the proposed Term Cash Collateral order or Term DIP Financing documentation does not expressly require the sale of all or substantially all of the ABL Priority Collateral prior to a default under the Term Cash Collateral order or Term DIP Financing documentation; and (v) any of the Term Claimholders may seek adequate protection to the extent, but only to the extent, expressly permitted under this Agreement. “Term Documents” means the Indenture, each other Term Credit Facility Agreement, the Term Collateral Documents, each of the other “Priority Lien Documents” or “Loan Documents” (in each case, as that term is defined in the Term Credit Facility Agreement) and each of the other agreements, documents and instruments executed pursuant thereto or in connection therewith and the Term Intercreditor Agreement to the extent effective at the relevant time. “Term Hedge Agreement” means an ISDA or similar agreement governing a Term Hedging Obligation. “Term Hedge Provider” means a “hedge bank” (or similar term) as defined in the Term Credit Facility Agreement. “Term Hedging Obligations” means any obligations arising under a “Swap Contract” (or similar term) (as defined in the Term Credit Facility Agreement) that are owed to a Term Hedge Provider. “Term Intercreditor Agreement” means, that certain collateral agency agreement, dated as of December 6, 2021, by and among the Holdings, the Notes Guarantors, the Initial Term Agent and the Initial Term Representative and, if applicable, any Additional Term Agent and Additional Term Representative that delivers a joinder thereto from time to time, as the same may be amended, restated, supplemented, modified or replaced from time to time, which authorizes and directs the Initial Term Agent (or such other Person as may be designated in the Term Intercreditor Agreement) to act as controlling Term Agent for all purposes required by this Agreement. “Term Lenders” means, as of any date of determination, the holders of the Term Debt at that time, including without limitation, the Initial Noteholders. “Term Mortgages” means each Mortgage under which any Lien on Real Property or Fixtures owned or leased by any Grantor is granted to secure any Term Debt or under which rights or remedies with respect to any such Liens are governed. “Term Priority Collateral” means all rights, title and interests of each Grantor in the following Collateral, in each case, whether now owned or existing or hereafter acquired or arising and wherever located, including, without duplication, (a) all rights of each Grantor to receive moneys due and to become due under or pursuant to the following, (b) all rights of each Grantor to receive return of any premiums for or Proceeds of any insurance, indemnity, warranty or guaranty with respect to the following or to receive condemnation Proceeds with respect to the following, (c) all claims of each Grantor for damages arising out of or for breach of or default under any of the following and (d) all rights of each Grantor to terminate, amend, supplement, modify or waive performance under any of the following, to perform thereunder and to compel performance and otherwise exercise all remedies thereunder: (i) all machinery and Equipment;

- 19 - (ii) all Material Owned Real Property; (iii) all Intellectual Property; (iv) all Equity Interests in all direct Subsidiaries of any Loan Party; (v) all intercompany indebtedness of Holdings and its Subsidiaries owed to any Loan Party; (vi) all As-Extracted Collateral (unless (and until) it is (or has become) Inventory); (vii) all Fixtures; (viii) all Related Mining Assets; (ix) all other assets of any Grantor, whether real, personal or mixed, in each case, not constituting ABL Priority Collateral; (x) to the extent evidencing or governing any of the items referred to in the preceding clauses (i) through (ix), all General Intangibles, letters of credit (whether or not the respective letter of credit is evidenced by a writing), Letter-of-Credit Rights, Instruments and Documents; provided that to the extent any of the foregoing also relates to any ABL Priority Collateral, only that portion related to the items referred to in the preceding clauses (i) through (ix) as being included in the Term Priority Collateral shall be included in the Term Priority Collateral; (xi) to the extent relating to any of the items referred to in the preceding clauses (i) through (x), all insurance; provided that to the extent any of the foregoing also relates to ABL Priority Collateral, only that portion related to the items referred to in the preceding clauses (i) through (x) as being included in the Term Priority Collateral shall be included in the Term Priority Collateral; (xii) to the extent relating to any of the items referred to in the preceding clauses (i) through (xi), all Supporting Obligations; provided that to the extent any of the foregoing also relates to ABL Priority Collateral, only that portion related to the items referred to in the preceding clauses (i) through (xi) as being included in the Term Priority Collateral shall be included in the Term Priority Collateral; (xiii) to the extent relating to any of the items referred to in the preceding clauses (i) through (xii), all Commercial Tort Claims; provided that to the extent any of the foregoing also relates to Term Priority Collateral, only that portion related to the items referred to in the preceding clauses (i) through (xii) as being included in the Term Priority Collateral shall be included in the Term Priority Collateral; (xiv) all Books and records, including all books, databases, customer lists and records related thereto and any General Intangibles at any time evidencing or relating to any of the foregoing; and (xv) all cash Proceeds and, solely to the extent not constituting ABL Priority Collateral, non-cash Proceeds, products, accessions, rents and profits of or in respect of any of the

- 20 - foregoing (including all insurance Proceeds) and all collateral security, guarantees and other collateral support given by any Person with respect to any of the foregoing; provided, however, that (x) if Collateral of any type is received in exchange for Term Priority Collateral pursuant to an Enforcement Action or during an Insolvency Proceeding, such Collateral will be treated as Term Priority Collateral and (y) if Collateral of any type is received in exchange for ABL Priority Collateral pursuant to an Enforcement Action or during an Insolvency Proceeding, such Collateral will be treated as ABL Priority Collateral. For the avoidance of doubt, no Excluded Property shall constitute Term Priority Collateral. “Term Priority Debt” means all Term Debt other than Excess Term Debt. “Term Priority Standstill Period” has the meaning set forth in Section 3.2. “Term Purchase Notice” has the meaning set forth in Section 9.1(a). “Term Purchase Option Period” has the meaning set forth in Section 9.1(a). “Term Purchase Option Trigger” means any of the following events: (i) the acceleration of the maturity date of all or a portion of the ABL Debt pursuant to the ABL Documents; (ii) the occurrence of an “Event of Default” under the ABL Documents that constitutes a Term Default, if the commitments of the ABL Claimholders to make Loans under and as defined in the ABL Credit Agreement or to issue Letters of Credit are terminated or are suspended as a result thereof for a period of 90 consecutive days or more; (iii) the commencement of Enforcement Action against the ABL Priority Collateral by the ABL Agent; or (iv) the commencement of an Insolvency Proceeding with respect to any Grantor. “Term Representative” means, collectively, the Initial Term Representative and each Additional Term Representative. “Term Secured Claim” means any portion of the Term Debt not constituting a Term Deficiency Claim. “Term Security Agreement” means the “Security Agreement”, as that term is defined in the Indenture as in effect on the date hereof. “Trustee” has the meaning set forth in the preamble to this Agreement. “UCC” means the Uniform Commercial Code as in effect from time to time in the State of New York, or if the perfection or priority of, or remedies with respect to, any Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, the Uniform Commercial Code as in effect from time to time in such other jurisdiction. “Use Period” means the period, with respect to any Term Priority Collateral, which begins on the earlier of (i) the day on which the ABL Agent provides the Term Agent with written notice that it intends to exercise its rights under Section 3.9 with respect to such Term Priority Collateral and (ii) the fifth Business Day after Term Agent provides the ABL Agent with written notice that Term Agent (or its agent) has obtained possession or control, as applicable, of such Term Priority Collateral and ends on the earlier of (x) the 180th day after the date on which the ABL Agent initially obtains the right and ability to obtain possession or control, as applicable, of such Term Priority Collateral and (y) the date on which Payment in Full of ABL Priority Debt occurs; provided that if any stay or other order has occurred by

- 21 - operation of law or has been entered by a court of competent jurisdiction that prohibits or limits any of the ABL Claimholders from commencing and continuing to undertake Enforcement Actions or to Dispose of the ABL Priority Collateral, such 180-day period shall be tolled during the pendency of such stay or other order and the Use Period shall be so extended and upon the expiration or lifting of such stay or order, if there are fewer than 45 days remaining in such 45-day period, then such 45 day period shall be extended so that the ABL Claimholders have a Use Period of 45 days remaining upon the expiration or lifting of such stay or order. 1.2 Construction. The definitions of terms in this Agreement shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” The term “or” shall be construed to have, except as the context may otherwise require, the inclusive meaning represented by the phrase “and/or.” Any term used in this Agreement and not defined in this Agreement shall have the meaning set forth in the Initial ABL Credit Agreement or the Indenture, as context may require. Unless the context requires otherwise: (i) except as otherwise provided herein, any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, restated, supplemented, modified, renewed, extended, Refinanced, refunded or replaced (subject to any restrictions or qualifications on such amendments, restatements, supplements, modifications, renewals, extensions, Refinancings, refunds or replacements set forth herein); (ii) except as otherwise expressly provided herein, any reference to a definition in an ABL Document shall be construed to also refer to any comparable term in any agreement, instrument or other document the debt under which Refinances the ABL Debt; provided that any comparable term resulting from such Refinancing would be permitted hereunder if such term had resulted from the amendment or modification of the ABL Debt that is the subject of such Refinancing; (iii) except as otherwise expressly provided herein, any reference to a definition in a Term Credit Facility Agreement shall be construed to also refer to any comparable term in any agreement, instrument, or other document the debt under which Refinances the Term Debt; provided that any comparable term resulting from such Refinancing would be permitted hereunder if such term had resulted from the amendment or modification of the Term Debt that is the subject of such Refinancing; (iv) any reference to any agreement, instrument or other document herein “as in effect on the date hereof” shall be construed as referring to such agreement, instrument or other document without giving effect to any amendment, restatement, supplement, modification, or Refinancing thereto or thereof occurring after the date hereof; (v) any definition of, or reference to, the ABL Debt or the Term Debt herein shall be construed as referring to the ABL Debt or the Term Debt (as applicable) as from time to time amended, restated, supplemented, modified, renewed, extended, Refinanced, refunded or replaced (subject to any restrictions or qualifications on such amendments, restatements, supplements, modifications, renewals, extensions, Refinancings, refunds or replacements set forth herein);

- 22 - (vi) any definition of, or reference to, ABL Collateral or Term Collateral herein shall not be construed as referring to any amounts recovered by a Grantor, as a debtor in possession, or a trustee for the estate of a Grantor, under Section 506(c) of the Bankruptcy Code (or by comparable Persons under any other Bankruptcy Law); (vii) any reference herein to any person shall be construed to include such person’s successors and assigns and as to any Grantor shall be deemed to include a receiver, trustee or debtor-in-possession on behalf of any of such person or on behalf of any such successor or assignee of such person; (viii) except as otherwise expressly provided herein, any reference to the ABL Agent agreeing to or having the right to do, or refraining from or having the right to refrain from doing, an act shall be construed as binding upon each of the ABL Claimholders, any reference to the ABL Agent shall be construed as referring to the ABL Agent, for itself and on behalf of the other ABL Claimholders, any reference to the Term Agent agreeing to or having the right to do, or refraining from or having the right to refrain from doing, an act shall be construed as binding upon each of the Term Claimholders for which such Term Agent serves as agent, any reference to the Term Agent shall be construed as referring to the Term Agent, for itself and on behalf of the other Term Claimholders for which such Term Agent serves as agent, any reference to the ABL Claimholders shall be construed as including the ABL Agent, and any reference to the Term Claimholders shall be construed as referring to the Term Agent; (ix) the words “herein,” “hereof” and “hereunder,” and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof; (x) all references herein to Sections shall be construed to refer to Sections of this Agreement unless otherwise specified; and (xi) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. SECTION 2. LIEN PRIORITIES. 2.1 Relative Priorities. (a) Notwithstanding the date, time, method, manner, or order of grant, attachment, or perfection of any Liens in the Collateral securing the Term Debt or of any Liens in the Collateral securing the ABL Debt (including, in each case, notwithstanding whether any such Lien is granted (or secures Debt relating to the period) before or after the commencement of any Insolvency Proceeding) and notwithstanding any contrary provision of the UCC or any other applicable law or the Term Documents or the ABL Documents or any defect or deficiencies in, or failure to attach or perfect, the Liens securing or purporting to secure the ABL Debt or the Term Debt, the possession or control of the Collateral by any Claimholder, or any other circumstance whatsoever, the ABL Agent and the Term Agent hereby agree that: (i) any Lien with respect to the ABL Priority Collateral securing any ABL Priority Debt, whether such Lien is now or hereafter held by or on behalf of, or created for the benefit of, any of the ABL Claimholders or any agent or trustee therefor, regardless of how or when acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise,

- 23 - shall be senior in all respects and prior to any Lien with respect to the ABL Priority Collateral securing (A) any Term Debt or (B) any Excess ABL Debt; (ii) any Lien with respect to the ABL Priority Collateral securing any Term Priority Debt, whether such Lien is now or hereafter held by or on behalf of, or created for the benefit of, any of the Term Claimholders or any agent or trustee therefor, regardless of how or when acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be (A) junior and subordinate in all respects to all Liens with respect to the ABL Priority Collateral securing any ABL Priority Debt, and (B) senior in all respects and prior to any Lien with respect to the ABL Priority Collateral securing (1) any Excess ABL Debt and (2) any Excess Term Debt; (iii) any Lien with respect to the Term Priority Collateral securing any Term Priority Debt, whether such Lien is now or hereafter held by or on behalf of, or created for the benefit of, any of the Term Claimholders or any agent or trustee therefor, regardless of how or when acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be senior in all respects and prior to any Lien with respect to the Term Priority Collateral securing (A) any ABL Debt or (B) any Excess Term Debt; (iv) any Lien with respect to the Term Priority Collateral securing any ABL Priority Debt, whether such Lien is now or hereafter held by or on behalf of, or created for the benefit of, any of the ABL Claimholders or any agent or trustee therefor, regardless of how or when acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be (A) junior and subordinate in all respects to all Liens with respect to the Term Priority Collateral securing any Term Priority Debt, and (B) senior in all respects and prior to any Lien with respect to the Term Priority Collateral securing (1) any Excess Term Debt and (2) any Excess ABL Debt; (v) any Lien with respect to the ABL Priority Collateral securing any Excess ABL Debt, whether such Lien is now or hereafter held by or on behalf of, or created for the benefit of, any of the ABL Claimholders or any agent or trustee therefor, regardless of how or when acquired, whether by grant, possession, statute, operation of law, subrogation, or otherwise, shall be (A) junior and subordinate in all respects to all Liens with respect to the ABL Priority Collateral securing any ABL Priority Debt and any Term Priority Debt, and (B) senior in all respects and prior to any Lien with respect to the ABL Priority Collateral securing any Excess Term Debt; (vi) any Lien with respect to the ABL Priority Collateral securing any Excess Term Debt, whether such Lien is now or hereafter held by or on behalf of, or created for the benefit of, any of the Term Claimholders or any agent or trustee therefor, regardless of how or when acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be junior and subordinate in all respects to all Liens with respect to the ABL Priority Collateral securing any ABL Debt and any Term Priority Debt; (vii) any Lien with respect to the Term Priority Collateral securing any Excess Term Debt, whether such Lien is now or hereafter held by or on behalf of, or created for the benefit of, any of the Term Claimholders or any agent or trustee therefor, regardless of how or when acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be (A) junior and subordinate in all respects to all Liens with respect to the Term Priority Collateral securing any ABL Priority Debt and any Term Priority Debt, and (B) senior in all

- 24 - respects and prior to any Lien with respect to the Term Priority Collateral securing any Excess ABL Debt; and (viii) any Lien with respect to the Term Priority Collateral securing any Excess ABL Debt, whether such Lien is now or hereafter held by or on behalf of, or created for the benefit of, any of the ABL Claimholders or any agent or trustee therefor, regardless of how or when acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be junior and subordinate in all respects to all Liens with respect to the Term Priority Collateral securing any Term Debt and any ABL Priority Debt. (b) All Liens with respect to the ABL Priority Collateral securing any ABL Priority Debt shall be and remain senior in all respects and prior to all Liens with respect to the ABL Priority Collateral securing any Term Debt or Excess ABL Debt, in each case, for all purposes, whether or not such Liens securing any ABL Priority Debt are subordinated to any Lien securing any other obligation of any Grantor or any other person. All Liens with respect to the Term Priority Collateral securing any Term Priority Debt shall be and remain senior in all respects and prior to all Liens with respect to the Term Priority Collateral securing any ABL Debt or any Excess Term Debt, in each case, for all purposes, whether or not such Liens securing any Term Priority Debt are subordinated to any Lien securing any other obligation of any Grantor or any other person. 2.2 Prohibition on Contesting Liens or Claims. Each of the Term Agent and the ABL Agent agrees that it will not (and hereby waives any right to), directly or indirectly, contest, or support any other person in contesting, in any proceeding (including any Insolvency Proceeding), the extent, validity, attachment, perfection, priority or enforceability of a Lien held by or on behalf of any of the ABL Claimholders in the Collateral (or the extent, validity, allowability or enforceability of any ABL Collateral Document or any ABL Debt secured thereby or purported to be secured thereby) or by or on behalf of any of the Term Claimholders in the Collateral (or the extent, validity, allowability or enforceability of any Term Collateral Document or the Term Debt secured thereby or purported to be secured thereby), as the case may be, or the validity or enforceability of any of the provisions of this Agreement; provided that nothing in this Agreement shall be construed to prevent or impair the rights of the ABL Agent or the Term Agent to enforce the terms of this Agreement, including the provisions of this Agreement relating to the priority of the Liens securing the ABL Debt and the Term Debt as provided in Sections 2.1 and 3. 2.3 New Liens. (a) Except as contemplated by Section 6 hereof, in the case of an Insolvency Proceeding of a Grantor, no Grantor shall: (i) grant or permit any additional Liens on any of its assets not subject to a Lien in favor of the ABL Agent to secure any Term Debt unless such Grantor offers to grant a Lien on such asset, subject in all respects to this Agreement, to secure the ABL Debt concurrently with the grant of a Lien thereon in favor of the Term Agent; or (ii) grant or permit any additional Liens on any of its assets not subject to a Lien in favor of the Term Agent to secure any ABL Debt unless such Grantor offers to grant a Lien on such asset, subject in all respects to this Agreement, to secure the Term Debt concurrently with the grant of a Lien thereon in favor of the ABL Agent; provided, however, that this Section 2.3(a) shall not apply with respect to cash and cash equivalents, and deposit accounts and securities accounts containing solely such cash and cash equivalents, that (i) cash

- 25 - collateralize (A) Letters of Credit issued under the applicable ABL Documents, (B) defaulting lender participations in Letters of Credit, swingline loans or protective advances under the ABL Documents or (C) returned or charged-back items under the ABL Documents, or (ii) constitute “Qualified Cash” (as defined in the ABL Credit Agreement). (b) To the extent that the foregoing provisions are not complied with for any reason, without limiting any other rights and remedies available to the Claimholders, each Agent agrees that any amounts received by or distributed to any of the Claimholders pursuant to or as a result of Liens granted in contravention of this Section 2.3 shall be subject to Section 4.2. 2.4 Similar Liens and Agreements. (a) The parties hereto agree that it is their intention that the ABL Collateral and the Term Collateral be identical except as provided in Section 6 hereof. In furtherance of the foregoing and of Section 8.8, the parties hereto agree, subject to the other provisions of this Agreement: (i) upon request by the ABL Agent or by the Term Agent, to cooperate in good faith (and to direct their counsel to cooperate in good faith) from time to time in order to determine the specific items included in the ABL Collateral and in the Term Collateral and the steps taken or to be taken to perfect their respective Liens thereon and the identity of the respective parties obligated under the ABL Documents and under the Term Documents; and (ii) that the ABL Collateral Documents and the Term Collateral Documents and guarantees for the ABL Debt and the Term Debt, shall be, in all material respects, the same forms of documents other than with respect to the priorities of the Liens granted thereunder. (b) The foregoing to the contrary notwithstanding, each of the parties agrees that to the extent that the ABL Agent or the Term Agent obtains a Lien in an asset: (i) which the other party to this Agreement elects not to obtain as a result of the exercise of its discretion (whether for regulatory, legal, practical or any other reason) pursuant to and as permitted under the ABL Documents or the Term Documents, as applicable; or (ii) of a type that is not included in the types of assets included in the Collateral as of the date hereof or which would not constitute Collateral without a grant of a security interest or lien separate from the ABL Documents or the Term Documents, as applicable, as in effect immediately prior to obtaining such Lien on such asset) which the other party to this Agreement elects not to obtain after receiving prior written notice thereof in accordance with the provisions of Section 2.3, the Collateral securing the ABL Debt and the Term Debt will not be identical, and the provisions of the documents, agreements and instruments evidencing such Liens also will not be substantively similar, and any such difference in the scope or extent of perfection with respect to the Collateral resulting therefrom are hereby expressly permitted by this Agreement. SECTION 3. EXERCISE OF REMEDIES. 3.1 Exercise of Remedies with respect to the ABL Priority Collateral. Until the Payment in Full of ABL Priority Debt has occurred, whether or not any Insolvency Proceeding has been commenced by or against any Grantor, the Term Claimholders will not:

- 26 - (i) exercise or seek to exercise (and instead shall be deemed to have hereby irrevocably, absolutely and unconditionally waived, but solely to the extent necessary to further the purpose of this Section) any rights, powers or remedies with respect to any ABL Priority Collateral (including taking any Enforcement Action with respect to any ABL Priority Collateral); (ii) commence or join with any person (in each case other than with the ABL Agent) in commencing, or filing a petition for, any Insolvency Proceeding against any Grantor; or (iii) object to (or join any party objecting to) the forbearance by the ABL Agent or the ABL Claimholders from bringing or pursuing any foreclosure proceeding or action or any other exercise of any rights or remedies relating to the ABL Priority Collateral; provided, however, that (w) if a Term Default has occurred and for so long as such Term Default is continuing, subject at all times to the provisions of Sections 2.1(a) and 4, after the expiration of a 180-day period (the “ABL Priority Standstill Period”) which shall commence on the date of receipt by the ABL Agent of written notification from the Term Agent (based on notification received from the Initial Term Representative or any Additional Term Representative pursuant to the Term Intercreditor Agreement) of (i) the occurrence of a Term Default, and (ii) Holdings having been notified of the acceleration of payment of some or all of the Term Debt and the termination of all related commitments under the applicable Term Credit Facility Agreement (subject to the tolling of such period to the extent, and for the duration of, any period for which a stay of enforcement rights may be in effect), the Term Agent may (acting pursuant to an Act of Required Secured Parties) take action to enforce its second-priority Liens on the ABL Priority Collateral upon 30 days’ prior written notice to the ABL Agent (which notice may be given prior to the completion of such 180-day period, but not prior to the 150th day of such period); (x) if any of the ABL Agent or the ABL Claimholders are stayed or otherwise prohibited from commencing and continuing to exercise any Enforcement Action or to liquidate or sell any ABL Priority Collateral by operation of law, court order or otherwise, then the 180-day period shall be tolled during the pendency of such stay or other prohibition, plus an additional number of days such that the ABL Priority Standstill Period extends at least 45 days after the applicable stay or other prohibition on enforcement are no longer in effect; (y) notwithstanding the foregoing, in no event shall the Term Agent or any Term Claimholder take any Enforcement Action or exercise or continue to exercise any rights or remedies if, notwithstanding the expiration of the ABL Priority Standstill Period, any ABL Claimholder shall have commenced and be pursuing the exercise of any of its rights and remedies with respect to all or any material portion of the ABL Priority Collateral (prompt notice of such exercise to be given to the Term Agent); and (z) nothing in this Section 3.1 shall limit the right of the Term Agent to enforce this Agreement. 3.2 Exercise of Remedies with respect to the Term Priority Collateral. Until the Payment in Full of Term Priority Debt has occurred, whether or not any Insolvency Proceeding has been commenced by or against any Grantor, the ABL Claimholders will not: (i) exercise or seek to exercise (and instead shall be deemed to have hereby irrevocably, absolutely and unconditionally waived, but solely to the extent necessary to further the purpose of this Section) any rights, powers or remedies with respect to any Term Priority Collateral (including taking any Enforcement Action with respect to any Term Priority Collateral); (ii) commence or join with any person (in each case other than with the Term Agent) in commencing, or filing a petition for, any Insolvency Proceeding against any Grantor; or

- 27 - (iii) object to (or join any party objecting to) the forbearance by the Term Agent or the Term Claimholders from bringing or pursuing any foreclosure proceeding or action or any other exercise of any rights or remedies relating to the Term Priority Collateral; provided, however, that (w) if an ABL Default has occurred and for so long as such ABL Default is continuing, subject at all times to the provisions of Sections 2.1(a) and 4, after the expiration of a 180-day period (the “Term Priority Standstill Period”) which shall commence on the date of receipt by the Term Agent of the written declaration of the ABL Agent of such ABL Default and written demand by the ABL Agent to the ABL Borrower Representative for the accelerated payment of all ABL Debt and the termination of all related commitments under the ABL Credit Agreement (subject to the tolling of such period to the extent, and for the duration of, any period for which a stay of enforcement rights may be in effect), the ABL Agent may take action to enforce its second-priority Liens on the Term Priority Collateral upon 30 days’ prior written notice to the Term Agent (which notice may be given prior to the completion of such 180-day period, but not prior to the 150th day of such period); (x) if any of the Term Agent or the Term Claimholders are stayed or otherwise prohibited from commencing and continuing to exercise any Enforcement Action or to liquidate or sell any Term Priority Collateral by operation of law, court order or otherwise, then the 180-day period shall be tolled during the pendency of such stay or other prohibition, plus an additional number of days such that the Term Priority Standstill Period extends at least 45 days after the applicable stay or other prohibition on enforcement are no longer in effect; (y) notwithstanding the foregoing, in no event shall the ABL Agent or any ABL Claimholder take any Enforcement Action or exercise or continue to exercise any rights or remedies if, notwithstanding the expiration of the Term Priority Standstill Period, any Term Claimholder shall have commenced and be pursuing the exercise of any of its rights and remedies with respect to all or any material portion of the Term Priority Collateral (prompt notice of such exercise to be given to the ABL Agent); and (z) nothing in this Section 3.2 shall limit the right of the ABL Agent to enforce this Agreement. 3.3 Exclusive Enforcement Rights. (a) Except as provided in the proviso to Section 3.1, until the Payment in Full of ABL Priority Debt has occurred, whether or not any Insolvency Proceeding has been commenced by or against any Grantor, the ABL Claimholders shall have the exclusive right to take Enforcement Actions (including set-off and applicable credit bid rights) with respect to the ABL Priority Collateral without any consultation with or the consent of any of the Term Claimholders. Except as provided in the proviso to Section 3.2, until the Payment in Full of Term Priority Debt has occurred, whether or not any Insolvency Proceeding has been commenced by or against any Grantor, the Term Claimholders shall have the exclusive right to take Enforcement Actions (including set-off and applicable credit bid rights) with respect to the Term Priority Collateral (and in connection therewith, subject to Section 3.9, make determinations regarding the release or Disposition thereof or any restrictions with respect thereto) without any consultation with or the consent of any of the ABL Claimholders. (b) In connection with (i) any Enforcement Action with respect to the ABL Priority Collateral, the ABL Claimholders may enforce the provisions of the ABL Documents and exercise remedies thereunder, all in such order and in such manner as they may determine in the exercise of their sole discretion, or (ii) any Enforcement Action with respect to the Term Priority Collateral, the Term Claimholders may enforce the provisions of the Term Documents and exercise remedies thereunder, all in such order and in such manner as they may determine in the exercise of their sole discretion. Such exercise and enforcement shall include the rights of an agent appointed by them to Dispose of Collateral, to incur expenses in connection with such Disposition, and to exercise all the rights and remedies of a secured creditor under applicable law.

- 28 - 3.4 Permitted Actions. Anything to the contrary in this Section 3 notwithstanding, any Claimholder may: (i) if an Insolvency Proceeding has been commenced by or against any Grantor, file a claim, proof of claim or statement of interest with respect to (i) in the case of an ABL Claimholder, the ABL Debt, and (ii) in the case of a Term Claimholder, the Term Debt, and in each case, subject in all respects to this Agreement, the Collateral securing such Debt; (ii) take any action (not adverse to the priority status of the Liens on the Priority Collateral held by the Priority Agent with respect thereto, or the rights of the Priority Agent or any other Priority Claimholder to undertake Enforcement Actions with respect thereto) in order to create or perfect its Lien in and to the Collateral; (iii) file any necessary responsive or defensive pleadings in opposition to any motion, claim, adversary proceeding or other pleading made by any Person objecting to or otherwise seeking the disallowance of the claims of (i) in the case of a claim of an ABL Claimholder in respect of the ABL Debt, the ABL Claimholders, or (ii) in the case of a claim of a Term Claimholder in respect of the Term Debt, the Term Claimholders, in each case including any claims secured by the Collateral, if any, in each case, in accordance with the express provisions of this Agreement; (iv) vote on any plan of reorganization and make any filings and motions that are, in each case, not in contravention of the express provisions of this Agreement, with respect to (A) in the case of an ABL Claimholder, the ABL Debt, and (B) in the case of a Term Claimholder, the Term Debt, and (in each case) the Collateral; (v) join (but not exercise any control with respect to) any judicial foreclosure proceeding or other judicial lien enforcement proceeding with respect to the Priority Collateral of the Priority Agent initiated by such Priority Agent to the extent that any such action could not reasonably be expected, in any material respect, to restrain, hinder, limit, delay for any material period or otherwise interfere with an Enforcement Action by such Priority Agent (it being understood that neither the Junior Agent nor any Junior Claimholder shall be entitled to receive any proceeds from the Priority Collateral unless otherwise expressly permitted herein); (vi) the Term Agent or any Term Claimholder may exercise any of its rights or remedies with respect to the ABL Priority Collateral in accordance with the Term Documents after the termination of the ABL Priority Standstill Period to the extent permitted by Section 3.1 above; and (vii) the ABL Agent or any ABL Claimholder may exercise any of its rights or remedies with respect to the Term Priority Collateral in accordance with the ABL Documents after the termination of the Term Priority Standstill Period to the extent permitted by Section 3.2 above. 3.5 Retention of Proceeds. (a) Prior to the Payment in Full of ABL Priority Debt, the Term Claimholders will not receive or retain any proceeds of ABL Priority Collateral in connection with any Enforcement Action or ABL Default Disposition, and any such proceeds received or retained in any other circumstance will be subject to Section 4.2.

- 29 - (b) Prior to the Payment in Full of Term Priority Debt, the ABL Claimholders will not receive or retain any proceeds of Term Priority Collateral in connection with any Enforcement Action or Term Default Disposition, and any such proceeds received or retained in any other circumstance will be subject to Section 4.2. 3.6 Non-Interference. Subject to any specific provision of this Agreement to the contrary, including Sections 3.1, 3.2, 3.3 and 6, each of the Term Agent and the ABL Agent hereby: (i) agrees that the Junior Claimholders will not take any action that would restrain, hinder, limit, delay or otherwise interfere with any Enforcement Action (or other action not prohibited hereunder) by the Priority Agent with respect to its Priority Collateral, including any Disposition of such Priority Collateral, whether by foreclosure or otherwise; (ii) waives any and all rights that any Junior Claimholder may have as a junior lien creditor or otherwise to object to the manner in which the Priority Agent or the Priority Claimholders seek to enforce or collect their Debt or the Liens securing such Debt granted in any of the Priority Collateral, regardless of whether any action or failure to act by or on behalf of such Priority Agent or the Priority Claimholders is adverse to the interest of the Junior Agent or the Junior Claimholders; (iii) waives any and all rights that any Claimholder may have to oppose, object to, or seek to restrict the Priority Agent or any Priority Claimholder from exercising their rights to set off or credit bid its Debt; and (iv) acknowledges and agrees that no covenant, agreement, or restriction contained in the applicable Collateral Documents or any other of the applicable Loan Documents (other than this Agreement) shall be deemed to restrict in any way the rights and remedies of the Priority Agent or the Priority Claimholders with respect to their Priority Collateral as set forth in this Agreement and such Priority Agent’s Loan Documents. 3.7 Unsecured Creditor Remedies. Except as set forth in Sections 2.2, 3.1, 3.2, 3.3, 3.6, 3.8 and 6, the Agents and the other Claimholders may exercise rights and remedies as unsecured creditors generally against any Grantor in accordance with the terms of the applicable Loan Documents and applicable law so long as doing so is not in violation of the terms of this Agreement; provided that in the event that any Claimholder becomes a judgment Lien creditor in respect of Collateral as a result of its enforcement of its rights as an unsecured creditor with respect to its Debt, such judgment Lien shall be subject to the terms of this Agreement for all purposes as the other Liens securing such Debt. 3.8 Commercially Reasonable Dispositions; Notice of Exercise. (a) The Term Agent hereby irrevocably, absolutely, and unconditionally waives any right to object (and seek or be awarded any relief of any nature whatsoever based on any such objection), at any time prior to or subsequent to any Disposition of any of the ABL Priority Collateral, on the ground(s) that any such Disposition of ABL Priority Collateral (i) would not be or was not “commercially reasonable” within the meaning of any applicable UCC or (ii) would not or did not comply with any other requirement under any applicable UCC or under any other applicable law governing the manner in which a secured creditor (including one with a Lien on Real Property) is to realize on its collateral. (b) The ABL Agent hereby irrevocably, absolutely and unconditionally waives any right to object (and seek or be awarded any relief of any nature whatsoever based on any such objection), at any time prior to or subsequent to any Disposition of any of the Term Priority Collateral, on the

- 30 - ground(s) that any such Disposition of Term Priority Collateral (i) would not be or was not “commercially reasonable” within the meaning of any applicable UCC or (ii) would not or did not comply with any other requirement under any applicable UCC or under any other applicable law governing the manner in which a secured creditor (including one with a Lien on Real Property) is to realize on its collateral. (c) The ABL Agent shall use commercially reasonable efforts to provide prior notice to the Term Agent of its initial Enforcement Action. The Term Agent shall use commercially reasonable efforts to provide prior notice to the ABL Agent of its initial Enforcement Action. 3.9 Inspection and Access Rights. (a) If the Term Agent, or any agent, representative or Affiliate of any of the Term Claimholders, or any receiver, shall, after any Term Default, obtain possession or physical control of any Mortgaged Property, or any material portion of the tangible Term Priority Collateral located on any premises other than Mortgaged Property or control over any material intangible Term Priority Collateral, the Term Agent shall promptly notify the ABL Agent in writing of that fact, and the ABL Agent may at any time thereafter notify the Term Agent in writing if and when the ABL Agent desires to exercise its access rights under this Section 3.9. In addition, if the ABL Agent, or any agent, representative or Affiliate of the ABL Agent, or any receiver, shall obtain possession or physical control of any of the Mortgaged Property, or any material portion of the tangible Term Priority Collateral located on any premises other than Mortgaged Property or control over any material intangible Term Priority Collateral, following the delivery to the Term Agent of an Enforcement Notice, then the ABL Agent may at any time thereafter, without qualifying, limiting or waiving the provisions of Sections 4.2 and 5.4 hereof, notify the Term Agent in writing that the ABL Agent is exercising its access rights under this Agreement under either circumstance. Upon delivery of such notice by the ABL Agent to the Term Agent, the parties shall confer in good faith to coordinate with respect to the ABL Agent’s exercise of such access rights. Consistent with the definition of “Use Period,” access rights may apply to differing parcels of Mortgaged Property and if located at different parcels of Mortgaged Property, to different assets that constitute a portion of the Term Priority Collateral, in each case at differing times, in which case, a differing Use Period will apply to each such property and to each such portion of the Term Priority Collateral located at different parcels of Mortgaged Property. For the avoidance of doubt, different Use Periods shall not apply with regard to Term Priority Collateral located at the same parcel of Mortgaged Property. (b) Without limiting any rights any of the ABL Claimholders may otherwise have under applicable law or by agreement and whether or not any of the Term Claimholders has commenced and is continuing to undertake any Enforcement Action, the Term Agent hereby grants to the ABL Agent an irrevocable, non-exclusive right to have access to, and a royalty-free and rent-free license (subject, however, to the payment of any royalties to third parties that are not Grantors or Affiliates thereof that are due as a result of the exploitation of any licensed Intellectual Property) and right to use the Term Priority Collateral, including, without limitation, Intellectual Property, general intangibles and Real Property and equipment, processors, computers and other machinery related to the storage or processing of records, documents or files (and in the case of Term Priority Collateral that constitutes Intellectual Property, the Term Agent hereby grants to the ABL Agent a non-excusive, irrevocable, fully-paid and royalty-free license to use such Intellectual Property) during the Use Period to the maximum extent permitted by applicable law and to the extent of the Term Agent’s interest therein (subject to, for the avoidance of doubt, any third party licenses (i) to access the ABL Priority Collateral and (ii) to assemble, inspect, copy or download information stored on, take actions to perfect its Lien on, process raw materials or work-in- process into finished Inventory, take possession of, move, package, prepare and advertise for sale or disposition, sell (by public auction, private sale or a “going out of business” or similar sale, whether in bulk, in lots or to customers in the ordinary course of business or otherwise and which sale may include

- 31 - augmented Inventory of the same type sold in the Grantors’ business), store, collect, take reasonable actions to protect, secure and otherwise enforce the rights of the ABL Agent in and to the ABL Priority Collateral, or otherwise deal with the ABL Priority Collateral, in each case without the involvement of or interference by any of the Term Claimholders or liability to any of the Term Claimholders; provided that (A) no ABL Claimholder shall have any right to mine or extract any Coal or other minerals located at, on, under or within any Mortgaged Property or part thereof subject to a Mortgage in favor of the Term Claimholders until after the Payment in Full of Term Priority Debt, (B) any such license shall terminate upon the sale or other Disposition of all the applicable ABL Priority Collateral and shall not extend or transfer to the purchaser of such ABL Priority Collateral, (C) the ABL Agent’s use of such Intellectual Property shall be reasonable and lawful and (D) any such license granted is on an “AS IS” basis, without any representation or warranty whatsoever. This Agreement will not restrict the rights of the Term Agent to sell, assign or otherwise transfer the related Term Priority Collateral prior to the expiration of the Use Period if (but only if) the purchaser, assignee or transferee thereof agrees to be bound by the provisions of this Section 3.9. (c) During the period of actual occupation, use or control by the ABL Agent (or its respective employees, agents, advisers and representatives) of any Term Priority Collateral, the ABL Agent shall be obligated to (i) pay any utility, rental, lease or similar charges and payments owed to third parties that accrue during, or that arise as a result of, such use to the extent not paid by the Grantors and (ii) repair at its expense any physical damage (ordinary wear and tear excepted) to such Term Priority Collateral caused by such occupancy, use or control (including the removal of any Collateral from the premises) by the ABL Agent or its agents, representatives or designees; provided that neither the ABL Agent nor the ABL Claimholders will be liable for any diminution in the value of the Term Priority Collateral caused by the absence of the ABL Priority Collateral therefrom. Notwithstanding the foregoing, in no event shall the ABL Agent have any liability to any of the Term Claimholders pursuant to this Section 3.9 as a result of any condition (including any environmental condition, claim or liability) on or with respect to the Term Priority Collateral existing prior to the date of the exercise by the ABL Agent of its rights under this Section 3.9, and the ABL Agent shall have no duty or liability to maintain the Term Priority Collateral in a condition or manner better than that in which it was maintained prior to the use thereof by the ABL Agent, or for any diminution in the value of the Term Priority Collateral that results solely from ordinary wear and tear resulting from the use of the Term Priority Collateral by the ABL Agent in the manner and for the time periods specified under this Section 3.9 and subject to the terms hereof. Without limiting the rights granted in this Section 3.9, the ABL Agent shall use commercially reasonable efforts to cooperate with the Term Agent in connection with any efforts made by the Term Claimholders to sell the Term Priority Collateral. (d) Consistent with the definition of the term “Use Period,” if any order or injunction is issued or stay is granted or is otherwise effective by operation of law that prohibits the ABL Agent from exercising any of its rights hereunder, then the Use Period granted to the ABL Agent under this Section 3.9 shall be stayed during the period of such prohibition and shall continue thereafter for the number of days remaining under this Section 3.9. The Term Agent agrees, for the benefit of the ABL Agent, that it shall not be permitted to sell or dispose of any of the Term Priority Collateral during the Use Period unless the buyer agrees in writing to acquire the Term Priority Collateral subject to the terms of Section 3.9 of this Agreement and agrees therein to comply with the terms of this Section 3.9. The rights of the ABL Agent under this Section 3.9 during the Use Period shall continue notwithstanding such foreclosure, sale or other disposition by the Term Agent. (e) Except as expressly provided herein, the ABL Agent shall not be obligated to pay any amounts to the Term Claimholders (or any Person claiming by, through or under the Term Claimholders, including any purchaser of the Term Priority Collateral) or to any Grantor, for or in respect

- 32 - of the use by the ABL Agent of the Term Priority Collateral. In each case, all amounts paid by the ABL Agent hereunder shall be added to the outstanding principal balance of the ABL Debt. (f) The ABL Agent shall use the Term Priority Collateral in accordance with applicable law. (g) The Term Agent (i) will not hinder or restrict in any respect the ABL Agent from enforcing its security interest in the ABL Priority Collateral, or from finishing any work-in-process with respect to the ABL Priority Collateral or assembling the ABL Priority Collateral pursuant to Section 3.9(b), and (ii) will permit the ABL Agent, its employees, agents, advisers and representatives to exercise the rights described in Section 3.9(b), subject to the terms and conditions thereof. (h) Subject to the terms hereof, the Term Agent may advertise and conduct public auctions or private sales of the Term Priority Collateral, without the involvement of, or interference by, any of the ABL Claimholders or liability to any of the ABL Claimholders as long as, in the case of an actual sale, the respective purchaser assumes and agrees in advance in writing to the obligations of the Term Agent under this Section 3.9. If the ABL Agent conducts a public auction or private sale of the ABL Priority Collateral at any of the Real Property included within the Term Priority Collateral, the ABL Agent shall provide the Term Agent with reasonable prior notice of such sale and shall use reasonable efforts to hold such auction or sale in a manner which would not unduly disrupt or interfere with the Term Agent’s use of such real property. (i) For the avoidance of doubt, and without limiting the generality of the other provisions of this Agreement, it is hereby acknowledged and agreed that the ABL Agent shall have the right to bring an action to enforce its rights under this Section 3.9 and Section 3.10, including an action seeking possession of the applicable Collateral or specific performance of this Section 3.9 and Section 3.10. 3.10 Sharing of Information and Access. If the ABL Agent shall, in the exercise of its rights under the ABL Collateral Documents or otherwise, receive possession or control of any Books of any Grantor which contain information identifying or pertaining to any of the Term Priority Collateral, the ABL Agent shall, upon request from the Term Agent and as promptly as practicable thereafter, either make available to the Term Agent such Books for inspection and duplication or provide to the Term Agent copies thereof. In the event that the Term Agent shall, in the exercise of its rights under the Term Documents or otherwise, receive possession or control of any Books of any Grantor which contain information identifying or pertaining to any of the ABL Priority Collateral, the Term Agent shall, upon request from the ABL Agent and as promptly as practicable thereafter, either make available to the ABL Agent such Books for inspection and duplication or provide to the ABL Agent copies thereof. 3.11 Tracing of and Priorities in Proceeds. Prior to an issuance of any Enforcement Notice by a Claimholder (unless a bankruptcy or insolvency ABL Default or Term Default then exists), any Proceeds of Collateral obtained in accordance with the terms of the ABL Documents and the Term Documents, whether or not deposited under control agreements, which are used by any Grantor to acquire other property which is Collateral shall not (solely as between the Claimholders) be treated as Proceeds of Collateral for purposes of determining the relative priorities in the Collateral which was so acquired. In addition, unless and until the Payment in Full of the ABL Priority Debt occurs, the Term Agent hereby consents to the application, prior to the receipt by the ABL Agent of an Enforcement Notice issued by the Term Agent, of cash or other Proceeds of Collateral, deposited under deposit account control agreements to the repayment of ABL Debt pursuant to the ABL Documents.

- 33 - SECTION 4. PROCEEDS. 4.1 Application of Proceeds. (a) Regardless of whether an Insolvency Proceeding has been commenced by or against any Grantor, any ABL Priority Collateral, or proceeds thereof, received in connection with any Enforcement Action, or any action by the ABL Agent that would have otherwise constituted an Enforcement Action but for the fact that the Collateral that is the subject thereof is not material, and except as otherwise provided in Sections 6.5 and 6.9(c), any ABL Priority Collateral or proceeds thereof (or amounts distributed on account of a Lien on the ABL Priority Collateral or the proceeds thereof) received in connection with any Insolvency Proceeding involving a Grantor shall (at such time as such ABL Priority Collateral or proceeds or other amounts have been monetized) be applied: (i) first, to the payment in full in cash of fees, costs, expenses and indemnification amounts of the ABL Agent in connection with such Enforcement Action or other similar action described above in accordance with the ABL Documents or in connection with such Insolvency Proceeding; (ii) second, to the payment in full in cash or cash collateralization of the ABL Priority Debt in accordance with the ABL Documents; (iii) third, to the payment in full in cash of fees, costs, expenses and indemnification amounts of the Term Agent in connection with such Enforcement Action or other similar action described above in accordance with the Term Documents or in connection with such Insolvency Proceeding; (iv) fourth, to the payment in full in cash of the Term Priority Debt in accordance with the Term Documents; (v) fifth, to the payment in full in cash or cash collateralization of the Excess ABL Debt in accordance with the ABL Documents; (vi) sixth, to the payment in full in cash of the Excess Term Debt in accordance with the Term Documents; and (vii) seventh, to the extent of any surplus remaining after payment in full in cash of the amounts described in the foregoing clauses, to the relevant Grantor or its successors or assigns or as a court of competent jurisdiction may direct. (b) Notwithstanding the foregoing, if any Enforcement Action with respect to the ABL Priority Collateral produces non-cash proceeds, then such non-cash proceeds shall be held by the ABL Agent as additional Collateral (subject to Section 5.4) and, at such time as such non-cash proceeds are monetized, shall be applied in the order of application set forth above. Notwithstanding the foregoing, in no event shall the ABL Agent shall have any duty or obligation to take title, to, have any ownership interest in, or to otherwise possess or Dispose of such non-cash proceeds and may Dispose of such non- cash proceeds or continue to hold such non-cash proceeds, in each case, in its discretion; provided that any non-cash proceeds received by the ABL Agent (other than any non-cash proceeds received on account of any Term Secured Claim) may be distributed by the ABL Agent to the ABL Claimholders in full or partial satisfaction of ABL Debt in an amount determined by the ABL Agent acting at the direction of the requisite ABL Claimholders or as a court of competent jurisdiction may direct pursuant to a Final Order, including an order confirming a plan of reorganization in an Insolvency Proceeding. No receipt

- 34 - and application of any Collateral, or proceeds thereof, received in the ordinary course of business and absent any affirmative enforcement action or remedies (other than the exercise of control with respect to any deposit account or securities account collateral and any notification to account debtors) by the ABL Agent to collect or otherwise realize upon such Collateral (such Collateral, and the proceeds thereof, “Ordinary Course Collections”) shall constitute an Enforcement Action for purposes of this Agreement and all Ordinary Course Collections received by the ABL Agent may be applied, reversed, reapplied, credited, or reborrowed, in whole or in part, pursuant to the ABL Credit Agreement. (c) Regardless of whether an Insolvency Proceeding has been commenced by or against any Grantor, any Term Priority Collateral, or proceeds thereof, received in connection with any Enforcement Action, or any action by the Term Agent that would have otherwise constituted an Enforcement Action but for the fact that the Collateral that is the subject thereof is not material, and except as otherwise provided in Sections 6.5 and 6.9(d), any Term Priority Collateral or proceeds thereof (or amounts distributed on account of a Lien on the Term Priority Collateral or the proceeds thereof) received in connection with any Insolvency Proceeding involving a Grantor shall (at such time as such Term Priority Collateral or proceeds or other amounts have been monetized) be applied: (i) first, to the payment in full in cash of fees, costs, expenses and indemnification amounts of the Term Agent in connection with such Enforcement Action or other similar action described above in accordance with the Term Documents or in connection with such Insolvency Proceeding; (ii) second, to the payment in full in cash of the Term Priority Debt in accordance with the Term Documents; (iii) third, to the payment in full in cash of fees, costs, expenses and indemnification amounts of the ABL Agent in connection with such Enforcement Action or other similar action described above in accordance with the ABL Documents or in connection with such Insolvency Proceeding; (iv) fourth, to the payment in full in cash or cash collateralization of the ABL Priority Debt in accordance with the ABL Documents; (v) fifth, to the payment in full in cash of the Excess Term Debt in accordance with the Term Documents; (vi) sixth, to the payment in full in cash or cash collateralization of the Excess ABL Debt in accordance with the ABL Documents; and (vii) seventh, to the extent of any surplus remaining after payment in full in cash of the amounts described in the foregoing clauses, to the relevant Grantor or its successors or assigns or as a court of competent jurisdiction may direct. (d) Notwithstanding the foregoing, if any Enforcement Action with respect to the Term Priority Collateral produces non-cash proceeds, then such non-cash proceeds shall be held by the Term Agent as additional Collateral (subject to Section 5.4) and, at such time as such non-cash proceeds are monetized, shall be applied in the order of application set forth above. Notwithstanding the foregoing, in no event shall the Term Agent have any duty or obligation to take title to, have any ownership interest in, or to otherwise possess or Dispose of such non-cash proceeds, but to the extent it agrees to take title to, has an ownership interest in or otherwise takes possession of such non-cash proceeds it may Dispose of such non-cash proceeds or continue to hold such non-cash proceeds, in each case, in accordance with the

- 35 - Term Documents; provided that any non-cash proceeds received by the Term Agent (other than any non- cash proceeds received on account of any ABL Secured Claim) may be distributed by the Term Agent to the Term Claimholders in full or partial satisfaction of Term Debt (applied in the order of application set forth above) in an amount determined by the Term Agent (acting in accordance with an Act of Required Secured Parties) or as a court of competent jurisdiction may direct pursuant to a Final Order, including an order confirming a plan of reorganization in an Insolvency Proceeding. (e) Notwithstanding anything contained in this Agreement to the contrary, in the event that any proceeds of Collateral (or amounts distributed on account of a Lien on the Collateral or the proceeds thereof) received in connection with any Enforcement Action involving a Grantor involves a combination of ABL Priority Collateral and Term Priority Collateral where the aggregate sales price is not allocated between the ABL Priority Collateral and the Term Priority Collateral then, solely for the purposes of this Agreement, the portion of such proceeds that shall be allocated to the ABL Priority Collateral in an amount equal to the sum of (A) the greater of the book value and the fair market value, each as determined in accordance with GAAP, (but not less than cost) of any ABL Priority Collateral consisting of inventory that is the subject of such Disposition or sale, determined as of the date of such Disposition or sale, (B) the book value, as determined in accordance with GAAP, of any ABL Priority Collateral consisting of accounts or other Receivables that are the subject of the Disposition or sale which results in such Collateral Proceeds, determined as of the date of such Disposition or sale, and (C) the fair market value, as determined in accordance with GAAP, of all other ABL Priority Collateral that is the subject of such Disposition or sale, determined as of the date of such Disposition or sale. The ABL Agent may, in its sole discretion, perform the foregoing valuations or hire a non-affiliated, nationally recognized valuation agent to perform the foregoing valuations, which shall be conclusive and binding. Any proceeds not so allocated to the ABL Priority Collateral shall be allocated to the Term Priority Collateral. 4.2 Turnover. (a) Unless and until the Payment in Full of ABL Priority Debt has occurred (irrespective of whether any Insolvency Proceeding has been commenced by or against any Grantor), any ABL Priority Collateral, or proceeds thereof (including assets or proceeds subject to Liens referred to in Section 2.3(b) or the proviso in Section 3.7) or any insurance proceeds described in Section 5.2(a), received by any of the Term Claimholders (i) in connection with an Enforcement Action with respect to the Collateral by any of the Term Claimholders or (ii) otherwise in violation of this Agreement, shall be held in trust and forthwith paid over to the ABL Agent for the benefit of the ABL Claimholders in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct. (b) Unless and until the Payment in Full of ABL Priority Debt has occurred and except as otherwise expressly provided in Section 6.5 or Section 6.9, if a Grantor (or any of its assets) is the subject of an Insolvency Proceeding and if any distribution is received by the Term Claimholders (or any of them) on account of their Term Secured Claims in respect of their interest in the ABL Priority Collateral in connection with such Insolvency Proceeding (unless such distribution is made under a confirmed plan of reorganization of such Grantor that is accepted by the requisite affirmative vote of all classes composed of the secured claims of the ABL Claimholders or otherwise provides for the Payment in Full of ABL Priority Debt), then such distribution shall be held in trust and forthwith paid over to the ABL Agent for the benefit of the ABL Claimholders in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct. For the avoidance of doubt, unless and until the Payment in Full of ABL Priority Debt has occurred, the Term Agent shall be required to turn over to the ABL Agent and the ABL Agent shall be entitled to apply (or, in the case of non-cash proceeds, hold) in accordance with Section 4.1(a) and (b) any cash or non-cash distribution received by the Term Claimholders on account of their Term Secured Claims in respect of their interest in the ABL

- 36 - Priority Collateral pursuant to a confirmed plan of reorganization of a Grantor (unless such distribution is made under a confirmed plan of reorganization of such Grantor that is accepted by the requisite affirmative vote of all classes composed of the secured claims of the ABL Claimholders or otherwise provides for the Payment in Full of ABL Priority Debt) irrespective of whether such plan of reorganization (or any Final Order in respect thereof) purports to find that the distribution to the ABL Claimholders pays the ABL Debt in full. The ABL Agent is hereby authorized to make any such endorsements as agent for the Term Claimholders and this authorization is coupled with an interest and is irrevocable until the Payment in Full of ABL Priority Debt. (c) Unless and until the Payment in Full of Term Priority Debt has occurred (irrespective of whether any Insolvency Proceeding has been commenced by or against any Grantor), any Term Priority Collateral, or proceeds thereof (including assets or proceeds subject to Liens referred to in Section 2.3(b) or the proviso in Section 3.7) or any insurance proceeds described in Section 5.2(b), received by any of the ABL Claimholders (i) in connection with an Enforcement Action with respect to the Collateral by any of the ABL Claimholders or (ii) otherwise in violation of this Agreement, shall be held in trust and forthwith paid over to the Term Agent for the benefit of the Term Claimholders in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct. (d) Unless and until the Payment in Full of Term Priority Debt has occurred, except as otherwise expressly provided in Section 6.5 or Section 6.9, if a Grantor (or any of its assets) is the subject of an Insolvency Proceeding and if any distribution is received by the ABL Claimholders (or any of them) on account of their ABL Secured Claims in respect of their interest in the Term Priority Collateral in connection with such Insolvency Proceeding (unless such distribution is made under a confirmed plan of reorganization of such Grantor that is accepted by the requisite affirmative vote of all classes composed of the secured claims of the Term Claimholders or otherwise provides for the Payment in Full of Term Priority Debt), then such distribution shall be held in trust and forthwith paid over to the Term Agent for the benefit of the Term Claimholders in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct. For the avoidance of doubt, unless and until the Payment in Full of Term Priority Debt has occurred, the ABL Agent shall be required to turn over to the Term Agent and the Term Agent shall be entitled to apply (or, in the case of non-cash proceeds, hold) in accordance with Section 4.1(c) and (d) any cash or non-cash distribution received by the ABL Claimholders on account of their ABL Secured Claims in respect of their interest in the Term Priority Collateral pursuant to a confirmed plan of reorganization of a Grantor (unless such distribution is made under a confirmed plan of reorganization of such Grantor that is accepted by the requisite affirmative vote of all classes composed of the secured claims of the Term Claimholders or otherwise provides for the Payment in Full of Term Priority Debt) irrespective of whether such plan of reorganization (or any Final Order in respect thereof) purports to find that the distribution to the Term Claimholders pays the Term Debt in full. The Term Agent is hereby authorized (without obligation) to make any such endorsements as agent for the ABL Claimholders and this authorization is coupled with an interest and is irrevocable until the Payment in Full of Term Priority Debt. (e) Each Term Claimholder agrees that if, at any time, all or part of any payment with respect to any ABL Debt secured by any ABL Priority Collateral previously made shall be rescinded for any reason whatsoever, it will upon request promptly pay over to the ABL Agent any payment received by it in respect of any such ABL Priority Collateral and shall promptly turn any such ABL Priority Collateral then held by it over to the ABL Agent, and the provisions set forth in this Agreement will be reinstated as if such payment had not been made, until the payment and satisfaction in full of such ABL Debt.

- 37 - (f) Each ABL Claimholder agrees that if, at any time, all or part of any payment with respect to any Term Debt secured by any Term Priority Collateral previously made shall be rescinded for any reason whatsoever, it will upon request promptly pay over to the Term Agent any payment received by it in respect of any such Term Priority Collateral and shall promptly turn any such Term Priority Collateral then held by it over to the Term Agent, and the provisions set forth in this Agreement will be reinstated as if such payment had not been made, until the payment and satisfaction in full of such Term Debt. 4.3 No Subordination in Right of Payment. Anything to the contrary contained herein notwithstanding, the subordination of the Liens of the Term Claimholders in respect of the ABL Priority Collateral to the Liens of the ABL Claimholders therein and of the Liens of the ABL Claimholders in respect of the Term Priority Collateral to the Liens of the Term Claimholders therein as set forth herein is with respect to the priority of their respective Liens in and to the Collateral held by or on behalf of them only and shall not constitute a subordination in right of payment of the Term Debt to the ABL Debt or a subordination in right of payment of the ABL Debt to the Term Debt. 4.4 Non-Lienable Assets. Notwithstanding anything to the contrary contained herein (including Section 4.3), if any assets, licenses, rights or privileges of any Grantor are incapable of being subject to a Lien in favor of a secured party (including because of restrictions under applicable law, the nature of the rights or interests of such Grantor or the absence of a consent to such Lien by a third party and irrespective of whether the applicable collateral documents attempt (or purport) to encumber such assets, licenses, rights or privileges (the “Inalienable Interests”)), then the ABL Agent and the Term Agent agree that any distribution or recovery that the ABL Claimholders or the Term Claimholders may receive with respect to, or that is allocable to, the value of any such Inalienable Interests, or any proceeds thereof, whether received in their capacity as unsecured creditors or otherwise, shall be turned over and applied in accordance with Sections 4.1 and 4.2 as if such distribution or recovery were, or were on account of, the applicable Priority Collateral or the proceeds of such Collateral. With respect to Inalienable Interests that would be of the same type as the ABL Priority Collateral if such Inalienable Interests were able to be included in the Collateral, until the Payment in Full of ABL Priority Debt occurs, the Term Agent hereby appoints the ABL Agent, and any officer or agent of the ABL Agent, with full power of substitution, as the attorney-in-fact of each of the Term Claimholders for the limited purpose of carrying out the provisions of this Section 4.4 and taking any action and executing any instrument that the ABL Agent may reasonably deem necessary or advisable to accomplish the purposes of this Section 4.4, which appointment is irrevocable and coupled with an interest. With respect to Inalienable Interests that would be of the same type as the Term Priority Collateral if such Inalienable Interests were able to be included in the Collateral, until the Payment in Full of Term Priority Debt occurs, the ABL Agent hereby appoints (without obligation) the Term Agent, and any officer or agent of the Term Agent, with full power of substitution, as the attorney-in-fact of each of the ABL Claimholders for the limited purpose of carrying out the provisions of this Section 4.4 and taking any action and executing any instrument that the Term Agent may reasonably deem necessary or advisable to accomplish the purposes of this Section 4.4, which appointment is irrevocable and coupled with an interest. 4.5 Application of Payments. Subject to the other terms of this Agreement, all payments received (not in violation of this Agreement) by (i) the ABL Claimholders may be applied, reversed and reapplied, in whole or in part, to the ABL Debt to the extent provided for in the ABL Documents, and (ii) the Term Claimholders may be applied, reversed and reapplied, in whole or in part, to the Term Debt to the extent provided for in the Term Documents. 4.6 Nature of ABL Debt. The Term Agent, on behalf of itself and the other Term Claimholders that it represents, acknowledges and agrees that the ABL Credit Agreement includes a revolving commitment and that the amount of the ABL Debt that may be outstanding at any time or from

- 38 - time to time may be increased or reduced and subsequently reborrowed. The Term Agent acknowledges and agrees that the ABL Debt outstanding at any time or from time to time may be increased by the incurrence of incremental debt or reduced, and that the terms of the ABL Documents may (subject to Section 5.3 below) be modified, extended or amended from time to time and that the aggregate amount of ABL Debt may be increased, replaced or Refinanced, in each event without notice to or consent by the Term Agent and without affecting the provisions hereof. 4.7 Nature of Term Debt. The ABL Agent acknowledges and agrees that the Term Debt outstanding at any time or from time to time may be increased by the incurrence of incremental debt, the incurrence of Term Hedge Obligations or increases in the amount of Term Hedge Obligations or reduced, and that the terms of the Term Documents (subject to Section 5.3 below) may be modified, extended or amended from time to time and that the aggregate amount of Term Debt may be increased, replaced or Refinanced, in each event without notice to or consent by the ABL Agent and without affecting the provisions hereof. SECTION 5. RELEASES; DISPOSITIONS; OTHER AGREEMENTS. 5.1 Releases. (a) The ABL Agent shall have the exclusive right to make determinations regarding the release or Disposition of any ABL Priority Collateral pursuant to the terms of the ABL Documents or in accordance with the provisions of this Agreement, in each case without any consultation with, consent of or notice to any of the Term Claimholders. (b) The Term Agent shall have the exclusive right to make determinations regarding the release or Disposition of any Term Priority Collateral pursuant to the terms of the Term Documents or in accordance with the provisions of this Agreement, in each case without any consultation with, consent of or notice to any of the ABL Claimholders. (c) If, in connection with an Enforcement Action by the ABL Agent as provided for in Section 3, or any action by the ABL Agent that would have otherwise constituted an Enforcement Action but for the fact that the ABL Priority Collateral that is the subject thereof is not material, the ABL Agent releases any of its Liens on any part of the ABL Priority Collateral (or such Liens are released by operation of law), then the Liens of each Term Agent (in each case, held for itself and on behalf of each Term Claimholder it represents) on such part of the ABL Priority Collateral, shall be automatically, unconditionally and simultaneously released. (d) If, in connection with an Enforcement Action by the Term Agent as provided for in Section 3, or any action by the Term Agent that would have otherwise constituted an Enforcement Action but for the fact that the Term Priority Collateral that is the subject thereof is not material, each Term Agent releases any of its Liens (in each case, held for itself and on behalf of each Term Claimholder it represents) on any part of the Term Priority Collateral (or such Liens are released by operation of law), then the Liens of the ABL Agent on such part of the Term Priority Collateral, shall be automatically, unconditionally and simultaneously released. (e) If in connection with an Enforcement Action by the Term Agent as provided in Section 3, each Term Agent releases its Liens (in each case, held for itself and on behalf of each Term Claimholder it represents) on the Equity Interests in any Grantor and also releases its Liens (in each case, held for itself and on behalf of each Term Claimholder it represents) on the Collateral of such Grantor, then the Liens of the ABL Agent on such Equity Interests and all such Collateral of such Grantor (whether ABL Priority Collateral or Term Priority Collateral) shall be automatically, unconditionally and

- 39 - simultaneously released; provided, however, that in the case of this paragraph (e) only, the Term Agent shall remit to the ABL Agent out of the proceeds of such Enforcement Action an amount equal to the value of any ABL Priority Collateral of such Grantor calculated in accordance with Section 4.1(e) hereof. (f) If, in connection with any Disposition of any ABL Priority Collateral (other than an ABL Default Disposition) permitted under the terms of the ABL Documents and permitted under the terms of the Term Documents, the ABL Agent releases any of its Liens on the portion of the ABL Priority Collateral that is the subject of such Disposition, then the Liens of each Term Agent (in each case, held for itself and on behalf of each Term Claimholder it represents) on such portion of ABL Priority Collateral shall be automatically, unconditionally and simultaneously released. (g) If, in connection with any Disposition of any Term Priority Collateral (other than a Term Default Disposition) permitted under the terms of the Term Documents and permitted under the terms of the ABL Documents, each Term Agent releases any of its Liens (in each case, held for itself and on behalf of each Term Claimholder it represents) on the portion of the Term Priority Collateral that is the subject of such Disposition, then the Liens of the ABL Agent on such portion of Term Priority Collateral shall be automatically, unconditionally and simultaneously released. (h) In the event of any private or public Disposition of all or any portion of the ABL Priority Collateral by one or more Grantors with the consent of the ABL Agent after the occurrence and during the continuance of an ABL Default (and prior to the Payment in Full of ABL Priority Debt), which Disposition is conducted by such Grantors with the consent of the ABL Agent in connection with good faith efforts by the ABL Agent to collect the ABL Debt through the Disposition of ABL Priority Collateral (any such Disposition, an “ABL Default Disposition”), then the Liens of the Term Agent on such ABL Priority Collateral shall be automatically, unconditionally and simultaneously released so long as (i) the ABL Agent also releases its Liens on such ABL Priority Collateral, (ii) the Liens of each Term Agent (in each case, held for itself and on behalf of each Term Claimholder it represents) continue to attach to the proceeds of such ABL Default Disposition to the extent not used to repay ABL Priority Debt, and (iii) the proceeds of any such ABL Default Disposition are applied in accordance with Section 4.1(a) (as if they were proceeds received in connection with an Enforcement Action). (i) In the event of any private or public Disposition of all or any portion of the Term Priority Collateral by one or more Grantors with the consent of, as applicable, the Initial Term Agent or any other Additional Term Agent after the occurrence and during the continuance of a Term Default (and prior to the Payment in Full of Term Priority Debt), which Disposition is conducted by such Grantors with the consent of the Term Agent in connection with good faith efforts by the Term Agent to collect the Term Debt through the Disposition of Term Priority Collateral (any such Disposition, a “Term Default Disposition”), then the Liens of the ABL Agent on such Term Priority Collateral shall be automatically, unconditionally and simultaneously released so long as (i) each Term Agent also releases its Liens (in each case, held for itself and on behalf of each Term Claimholder it represents) on such Term Priority Collateral, (ii) the ABL Agent’s Lien continues to attach to the proceeds of such Term Default Disposition to the extent not used to repay Term Priority Debt, and (iii) the proceeds of any such Term Default Disposition are applied in accordance with Section 4.1(c) (as if they were proceeds received in connection with an Enforcement Action). (j) To the extent that the Liens of the Term Agent in and to any ABL Priority Collateral are to be released as provided in this Section 5.1: (i) each Term Agent shall promptly, upon the written request of the ABL Agent, execute and deliver such release documents and confirmations of the authorization to file UCC amendments, in each case, as the ABL Agent may reasonably request in connection with

- 40 - such Disposition to evidence and effectuate such release; provided that any such release or UCC amendment by each such Term Agent shall not extend to or otherwise affect any of the rights, if any, of such Term Agent to the proceeds from any such Disposition of any Collateral; (ii) from and after the time that the Liens of each Term Agent in and to such ABL Priority Collateral are released, each Term Agent shall be automatically and irrevocably deemed to have authorized Holdings, the ABL Agent or their respective designees to file UCC amendments releasing the ABL Priority Collateral subject to such Disposition; (iii) the Term Claimholders shall be deemed to have consented under the Term Documents to such Disposition to the same extent as the consent of the ABL Claimholders; and (iv) in accordance with the provisions of applicable law, the Liens of each Term Agent shall automatically attach to any proceeds of any Collateral subject to any such Disposition to the extent not used to repay ABL Debt. (k) To the extent that the Liens of the ABL Agent in and to any Term Priority Collateral are to be released as provided in this Section 5.1: (i) the ABL Agent shall promptly, upon the written request of the Term Agent, execute and deliver such release documents and confirmations of the authorization to file UCC amendments, in each case, as the Term Agent may reasonably request in connection with such Disposition to evidence and effectuate such release; provided that any such release or UCC amendment by the ABL Agent shall not extend to or otherwise affect any of the rights, if any, of the ABL Agent to the proceeds from any such Disposition of any Collateral; (ii) from and after the time that the Liens of the ABL Agent in and to such Term Priority Collateral are released, the ABL Agent shall be automatically and irrevocably deemed to have authorized Holdings, the Term Agent or their respective designees to file UCC amendments releasing the Collateral subject to such Disposition; (iii) the ABL Agent shall be deemed to have consented under the ABL Documents to such Disposition to the same extent as the consent of the Term Claimholders; and (iv) in accordance with the provisions of applicable law, the Liens of the ABL Agent shall automatically attach to any proceeds of any Collateral subject to any such Disposition to the extent not used to repay Term Debt. (l) Until the Payment in Full of ABL Priority Debt occurs, to the extent that the ABL Claimholders (i) have released any Lien on ABL Priority Collateral or any Grantor with respect to the ABL Debt, and any such Liens or obligations are later reinstated, or (ii) obtain any new Liens from any Grantor or obtain a guaranty from any Grantor of the ABL Debt, then each Term Agent shall be entitled to obtain a Lien on any such ABL Priority Collateral, subject to the terms (including the lien subordination provisions) of this Agreement, and a guaranty from such Grantor of the Term Debt, as the case may be. (m) Until the Payment in Full of Term Priority Debt occurs, to the extent that the Term Claimholders (i) have released any Lien on Term Priority Collateral or any Grantor with respect to the Term Debt, and any such Liens or obligations are later reinstated, or (ii) obtain any new Liens from any Grantor or obtain a guaranty from any Grantor of the Term Debt, then the ABL Agent shall be

- 41 - entitled to obtain a Lien on any such Term Priority Collateral, subject to the terms (including the lien subordination provisions) of this Agreement, and a guaranty from such Grantor of the ABL Debt, as the case may be. 5.2 Insurance. (a) Unless and until the Payment in Full of ABL Priority Debt has occurred: (i) the ABL Agent shall, to the extent applicable, practicable and, in any event subject to paragraph (c) below, have the sole and exclusive right, subject to the rights of the Grantors under the ABL Documents, to adjust and settle any claim under any insurance policy in respect of or included in the ABL Priority Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) affecting the ABL Priority Collateral; and (ii) all proceeds of any such insurance policy and any such award (or any payments with respect to a deed in lieu of condemnation) shall be paid, subject to the rights of the Grantors under the ABL Documents and the Term Documents, first to the ABL Agent and the Term Agent in accordance with the priorities set forth in Section 4.1, until paid in full in cash, and second, to the owner of the subject property, such other person as may be entitled thereto or as a court of competent jurisdiction may otherwise direct. If any of the Term Claimholders shall, at any time, receive any proceeds of any such insurance policy or any such award or payment in contravention of this Section 5.2(a), it shall pay such proceeds over to the ABL Agent in accordance with the terms of Section 4.2. (b) Unless and until the Payment in Full of Term Priority Debt has occurred: (i) the Term Agent shall, to the extent applicable, practicable and, in any event subject to paragraph (c) below, have the sole and exclusive right, subject to the rights of the Grantors under the Term Documents, to adjust and settle any claim under any insurance policy in respect of or included in the Term Priority Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) affecting the Term Priority Collateral; and (ii) all proceeds of any such insurance policy and any such award (or any payments with respect to a deed in lieu of condemnation) shall be paid, subject to the rights of the Grantors under the Term Documents and the ABL Documents, first to the Term Agent and the ABL Agent in accordance with the priorities set forth in Section 4.1, until paid in full in cash, and second, to the owner of the subject property, such other person as may be entitled thereto or as a court of competent jurisdiction may otherwise direct. If any of the ABL Claimholders shall, at any time, receive any proceeds of any such insurance policy or any such award or payment in contravention of this Section 5.2(b), it shall pay such proceeds over to the Term Agent in accordance with the terms of Section 4.2. (c) In the event that any proceeds are derived from any insurance policy that covers both ABL Priority Collateral and Term Priority Collateral, the Term Agent or the ABL Agent, as determined by whichever facility’s Priority Collateral bore a materially disproportionately greater covered loss shall, in consultation with the other Agent, have the sole and exclusive authority, subject to the rights of the Grantors, to adjust or settle any claim under the relevant insurance policy; provided that if the covered losses (as between the ABL Debt and the Term Debt) are approximately equal or their relative proportion cannot be ascertained with reasonable certainty, then the ABL Agent and the Term Agent (acting at the direction of an Act of Required Secured Parties) will work jointly and in good faith to collect, adjust or settle (subject to the rights of the Grantors under the ABL Documents and the Term Documents) any claim under the relevant insurance policy. (d) Notwithstanding anything contained in this Agreement to the contrary, in the event that any proceeds are derived from any insurance policy that covers both ABL Priority Collateral and Term Priority Collateral, then, solely for the purposes of this Agreement, a portion of the proceeds of such insurance policy shall be allocated to the ABL Priority Collateral in an amount equal to the sum of

- 42 - (A) the greater of the book value and the fair market value, each as determined in accordance with GAAP (but not less than cost) of any ABL Priority Collateral consisting of inventory that is the subject of such loss, determined as of the date of such loss, (B) the book value, as determined in accordance with GAAP, of any ABL Priority Collateral consisting of accounts or other Receivables that are the subject of the Disposition or event giving rise to the Casualty Receipt which results in such Collateral Proceeds and the proceeds of which constitute such Collateral Proceeds, determined as of the date of such loss, and (C) the fair market value, as determined in accordance with GAAP, of all other ABL Priority Collateral that is the subject of such loss, determined as of the date of such loss. The ABL Agent may, in its sole discretion, perform the foregoing valuations or hire a non-affiliated, nationally recognized valuation agent to perform the foregoing valuations, which shall be conclusive and binding. Any proceeds not so allocated to the ABL Priority Collateral shall be allocated to the Term Priority Collateral. (e) To effectuate the foregoing, the Grantors shall provide the ABL Agent and the Term Agent with separate lender’s loss payable endorsements naming the ABL Agent and the Term Agent as loss payee, as their interests may appear, with respect to policies which insure Collateral hereunder. 5.3 Amendments; Refinancings; Legend. (a) The ABL Documents may be amended, supplemented, waived or otherwise modified in accordance with their terms, and the ABL Debt may be Refinanced, in each case without notice to, or the consent of, the Term Agent or the Term Claimholders, all without affecting the lien subordination or other provisions of this Agreement; provided that, in the case of a Refinancing, the holders of such Refinancing debt shall have bound themselves (in a writing addressed to the Term Agent and each other party to this Agreement at such time) to the terms of this Agreement; provided, further, that any such amendment, supplement, modification, or Refinancing shall not contravene the provisions of this Agreement without the prior written consent of the Term Agent (provided pursuant to an Act of Required Secured Parties in accordance with the terms of the Term Intercreditor Agreement). (b) The Term Documents may be amended, supplemented, waived or otherwise modified in accordance with their terms, and the Term Debt may be Refinanced, in each case without notice to, or the consent of the ABL Agent or the ABL Claimholders, all without affecting the lien subordination or other provisions of this Agreement; provided that, in the case of a Refinancing, the holders of such Refinancing debt shall have bound themselves (in a writing addressed to the ABL Agent) to the terms of this Agreement; provided, further, that any such amendment, supplement, modification, or Refinancing shall not, without the prior written consent of the ABL Agent (which it shall be authorized to consent to based upon an affirmative vote of the ABL Claimholders holding at least a majority of the debt and, if applicable, unused commitments under the ABL Credit Agreement) contravene the provisions of this Agreement. (c) In the event that the ABL Agent or the ABL Claimholders and the relevant Grantor enter into any ABL Collateral Document or any amendment, waiver or consent in respect of any of the ABL Collateral Documents for the purpose of adding to, or deleting from, or waiving or consenting to any departures from any provisions of, any ABL Collateral Document or changing in any manner the rights of the ABL Agent, such ABL Claimholders, Holdings or any other Grantor thereunder, in each case with respect to or relating to the ABL Priority Collateral, then such amendment, waiver or consent shall apply automatically to any comparable provision of the Term Collateral Document without the consent of the Term Agent or the Term Claimholders and without any action by the Term Agent, the Term Claimholders, Holdings or any other Grantor, provided that (A) no such amendment, waiver or consent shall have the effect of (I) removing assets that constitute ABL Priority Collateral subject to the Lien of the Term Collateral Documents, except to the extent that a release of such Lien is permitted or required

- 43 - by Section 5.1 and provided that there is a corresponding release of such Lien securing the ABL Debt, (II) imposing duties on or amending the rights and protections of the Term Agent or the Term Representative without its consent or (III) permitting other liens on the ABL Priority Collateral not permitted under the terms of the Term Documents or Section 6 and (B) notice by the ABL Agent of such amendment, waiver or consent shall have been given to the Term Agent within ten Business Days after the effective date of such amendment, waiver or consent. (d) In the event that the Term Agent or the Term Claimholders and the relevant Grantor enter into any Term Collateral Document or any amendment, waiver or consent in respect of any of the Term Collateral Documents for the purpose of adding to, or deleting from, or waiving or consenting to any departures from any provisions of, any Term Collateral Document or changing in any manner the rights of the Term Agent, such Term Claimholders, Holdings or any other Grantor thereunder, in each case with respect to or relating to the Term Priority Collateral, then such amendment, waiver or consent shall apply automatically to any comparable provision of the ABL Collateral Document without the consent of the ABL Agent or the ABL Claimholders and without any action by the ABL Agent, the ABL Claimholders, Holdings or any other Grantor; provided that (A) no such amendment, waiver or consent shall have the effect of (I) removing assets that constitute Term Priority Collateral subject to the Lien of the ABL Collateral Documents, except to the extent that a release of such Lien is permitted or required by Section 5.1 and provided that there is a corresponding release of such Lien securing the Term Debt, (II) imposing duties on the ABL Agent without its consent or (III) permitting other liens on the Term Priority Collateral not permitted under the terms of the ABL Documents or Section 6 and (B) notice by the Term Agent of such amendment, waiver or consent shall have been given to the ABL Agent within ten Business Days after the effective date of such amendment, waiver or consent. (e) So long as Payment in Full of ABL Priority Debt has not occurred, the Term Claimholders agree and the Grantors will ensure that each applicable Term Collateral Document executed on or after the date hereof that grants a Lien on any material Collateral shall include the following language: “Anything herein to the contrary notwithstanding, the liens and security interests securing the obligations evidenced by this agreement, the exercise of any right or remedy with respect thereto, and certain of the rights of the holder hereof are subject to the provisions of the Intercreditor Agreement dated as of December 6, 2021 (as amended, restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), by and between Citibank, N.A., as Initial ABL Agent, and Wilmington Trust, National Association, as Initial Term Representative and Initial Term Agent. In the event of any conflict between the terms of the Intercreditor Agreement and this agreement, the terms of the Intercreditor Agreement shall govern and control.” (f) So long as Payment in Full of Term Priority Debt has not occurred, the ABL Agent agrees and the Grantors will ensure that each applicable ABL Collateral Document executed on or after the date hereof that grants a Lien on any material Collateral shall include the following language: “Anything herein to the contrary notwithstanding, the liens and security interests securing the obligations evidenced by this agreement, the exercise of any right or remedy with respect thereto, and certain of the rights of the holder hereof are subject to the provisions of the Intercreditor Agreement dated as of December 6, 2021 (as amended, restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), by and between Citibank, N.A., as Initial ABL Agent, and Wilmington Trust, National Association, as Initial Term Representative,

- 44 - and Initial Term Agent. In the event of any conflict between the terms of the Intercreditor Agreement and this agreement, the terms of the Intercreditor Agreement shall govern and control.” 5.4 Bailee for Perfection. (a) The ABL Agent and the Term Agent each agree to hold or control that part of the Collateral that is in its possession or control (or in the possession or control of its agents or bailees), to the extent that possession or control thereof may be taken to perfect a Lien thereon under the UCC or other applicable law, including any account (including deposit accounts) in which Collateral is held and over which the ABL Agent or the Term Agent has control (such Collateral being referred to as the “Pledged Collateral”), as gratuitous bailee and as a non-fiduciary representative for the Term Agent or the ABL Agent, as applicable (such bailment and agency being intended, among other things, to satisfy the requirements of Sections 8-301(a)(2), 9-313(c), 9-104, 9-105, 9-106 and 9-107 of the UCC), solely for the purpose of perfecting the security interest granted under the Term Documents or the ABL Documents, as applicable, subject to the terms and conditions of this Section 5.4. Each Term Agent hereby appoints the ABL Agent as its gratuitous bailee and non-fiduciary representative for the purposes of perfecting its security interest in all Pledged Collateral in which the ABL Agent has a perfected security interest under the UCC. The ABL Agent hereby appoints the Term Agent as its gratuitous bailee and non-fiduciary representative for the purposes of perfecting its security interest in all Pledged Collateral in which the Term Agent has a perfected security interest under the UCC. Each of the ABL Agent and the Term Agent hereby accepts such appointment pursuant to this Section 5.4 and acknowledges and agrees that it shall hold possession or have control for the benefit of and on behalf of the other Claimholders with respect to any Pledged Collateral and that any Proceeds received by the ABL Agent or the Term Agent, as the case may be, under any Pledged Collateral shall be applied in accordance with Section 4. Unless and until the Payment in Full of ABL Priority Debt has occurred, the Term Agent agrees to promptly (upon its actual knowledge thereof) notify the ABL Agent of any Pledged Collateral constituting ABL Priority Collateral held by it or by any other Term Claimholder, and, promptly upon the request of the ABL Agent at any time prior to the Payment in Full of ABL Priority Debt, the Term Agent agrees to deliver to the ABL Agent, upon its request, any such Pledged Collateral held by it or by any other Term Claimholder, together with any necessary endorsements (or otherwise allow the ABL Agent to obtain control of such Pledged Collateral). Unless and until the Payment in Full of Term Priority Debt has occurred, the ABL Agent agrees to promptly (upon its actual knowledge thereof) notify the Term Agent of any Pledged Collateral constituting Term Priority Collateral held by it or by any other ABL Claimholder, and, promptly upon the request of the Term Agent at any time prior to the Payment in Full of Term Priority Debt, the ABL Agent agrees to deliver to the Term Agent any such Pledged Collateral held by it or by any other ABL Claimholder, together with any necessary endorsements (or otherwise allow the Term Agent to obtain control of such Pledged Collateral). (b) Without limiting or qualifying the provisions of Section 3.3 hereof, the ABL Agent shall have no obligation whatsoever to any of the Term Claimholders to ensure that the Pledged Collateral is genuine or owned by any of the Grantors or to preserve rights or benefits of any person except as expressly set forth in this Section 5.4. Without limiting or qualifying the provisions of Section 3.3 hereof, the Term Agent shall have no obligation whatsoever to any of the ABL Claimholders to ensure that the Pledged Collateral is genuine or owned by any of the Grantors or to preserve rights or benefits of any person except as expressly set forth in this Section 5.4. The duties or responsibilities of the ABL Agent under this Section 5.4 shall be limited solely to holding or controlling the Pledged Collateral as gratuitous bailee and non-fiduciary representative in accordance with this Section 5.4 and delivering any Pledged Collateral in its possession or control (or in the possession or control of its agents or bailees) upon a Payment in Full of ABL Priority Debt as provided in Section 5.6. The duties or responsibilities of the Term Agent under this Section 5.4 shall be limited solely to holding or controlling the Pledged

- 45 - Collateral as gratuitous bailee and non-fiduciary representative in accordance with this Section 5.4 and delivering any Pledged Collateral in its possession or control (or in the possession or control of its agents or bailees) upon a Payment in Full of Term Priority Debt as provided in Section 5.6. (c) The ABL Agent, in acting pursuant to this Section 5.4, shall not have, or be deemed to have, a fiduciary relationship in respect of any of the Term Claimholders or any other Person. The Term Agent, in acting pursuant to this Section 5.4, shall not have, or be deemed to have, a fiduciary relationship in respect of any of the ABL Claimholders or any other Person. (d) Upon Payment in Full of ABL Priority Debt, the ABL Agent shall, to the extent permitted by applicable law, deliver the remaining tangible Pledged Collateral in its possession or control (or in the possession or control of its agents or bailees), if any, together with any necessary endorsements, first, to the Term Agent, if Term Debt (or commitments to extend Term Debt) remains outstanding as confirmed to the ABL Agent in writing by the Term Agent, and, if (x) the Term Agent confirms that no Term Debt (or commitments to extend Term Debt) is outstanding and (y) the ABL Agent confirms that no ABL Debt (or commitments to extend ABL Debt) is outstanding, second, to Holdings. At such time, the ABL Agent further agrees to take all other action reasonably requested by the Term Agent in writing at the expense of the Grantors (including amending any outstanding control agreements) to enable the Term Agent to obtain a first priority security interest in the Collateral. Without limiting the foregoing, the Term Agent agrees that no ABL Claimholder will have any duty or obligation first to marshal or realize upon the ABL Priority Collateral, or to sell, dispose of or otherwise realize upon all or any portion of the ABL Priority Collateral, in any manner that would maximize the return to the Term Claimholders, notwithstanding that the order and timing of any such realization, sale, disposition or liquidation may affect the amount of proceeds actually received by the Term Claimholders from such realization, sale, disposition or liquidation. (e) Upon Payment in Full of Term Priority Debt, Term Agent shall, to the extent permitted by applicable law, deliver the remaining tangible Pledged Collateral in its possession or control (or in the possession or control of its agents or bailees), if any, together with any necessary endorsements, first, to the ABL Agent, if any ABL Debt (or commitments to extend ABL Debt) remains outstanding as confirmed to the Term Agent in writing by the ABL Agent, and, if (x) the ABL Agent confirms that no ABL Debt (or commitments to extend ABL Debt) is outstanding and (y) the Term Agent confirms that no Term Debt (or commitments to extend Term Debt) is outstanding, second, to Holdings. At such time, the Term Agent further agrees to take all other action reasonably requested by the ABL Agent in writing at the expense of the Grantors (including amending any outstanding control agreements) to enable the ABL Agent to obtain a first priority security interest in the Collateral. Without limiting the foregoing, the ABL Agent agrees that no Term Claimholder will have any duty or obligation first to marshal or realize upon the Term Priority Collateral, or to sell, dispose of or otherwise realize upon all or any portion of the Term Priority Collateral, in any manner that would maximize the return to the ABL Claimholders, notwithstanding that the order and timing of any such realization, sale, disposition or liquidation may affect the amount of proceeds actually received by the ABL Claimholders from such realization, sale, disposition or liquidation. 5.5 When Payment in Full of ABL Priority Debt or Payment in Full of Term Priority Debt Deemed to Not Have Occurred. (a) If any of the ABL Borrowers enter into any Refinancing of the ABL Debt that is intended to be secured by the ABL Priority Collateral on a first priority basis in accordance with the terms of this Agreement and the Indenture (as in effect on the date hereof), then a Payment in Full of ABL Priority Debt shall be deemed not to have occurred for all purposes of this Agreement, and the obligations under such Refinancing of such ABL Debt shall be treated as ABL Debt for all purposes of this

- 46 - Agreement, including for purposes of the Lien priorities and rights in respect of Collateral set forth herein, and the ABL Agent under the ABL Documents effecting such Refinancing shall be the ABL Agent for all purposes of this Agreement, so long as the ABL Agent under such ABL Documents agrees (in a writing addressed to the Term Agent) to be bound by the terms of this Agreement. (b) If Holdings enters into any Refinancing of the Term Debt that is intended to be secured by the Term Priority Collateral on a first priority basis in accordance with the terms of this Agreement and the Initial ABL Credit Agreement (as in effect on the date hereof), then a Payment in Full of Term Priority Debt shall be deemed not to have occurred for all purposes of this Agreement, and the obligations under such Refinancing of such Term Debt shall be treated as Term Debt for all purposes of this Agreement, including for purposes of the Lien priorities and rights in respect of Collateral set forth herein, and the Term Agent under the Term Documents effecting such Refinancing shall be the Term Agent for all purposes of this Agreement, so long as the Term Agent under such Term Documents agrees (in a writing addressed to the ABL Agent) to be bound by the terms of this Agreement. 5.6 Transfer of Pledged Collateral. (a) The ABL Agent hereby agrees that upon the Payment in Full of ABL Priority Debt, to the extent permitted by applicable law (with all costs and expenses in connection therewith to be paid solely by the Grantors): (i) the ABL Agent shall, without recourse or warranty, take commercially reasonable steps to transfer the possession and control of the Pledged Collateral, if any, then in its possession or control, to the Term Agent, except in the event and to the extent (A) such Collateral is sold, liquidated or otherwise disposed of by any of the ABL Claimholders or by a Grantor as provided herein in full or partial satisfaction of any of the ABL Debt or (B) any order of any court or other Governmental Authority or applicable law requires otherwise; and (ii) in connection with the terms of any collateral access or like agreement, whether with a landlord, processor, warehouseman or other third party or any control agreement, the ABL Agent shall notify the other parties thereto that its rights thereunder have been assigned to the Term Agent (to the extent such assignment is not prohibited by the terms of such agreement) and shall confirm to such parties that the Term Agent is thereafter the “Agent” (or other comparable term) as such term is used in any such agreement and is otherwise entitled to the rights of the secured party under such agreement. (b) The Term Agent hereby agrees that upon the Payment in Full of Term Priority Debt, to the extent permitted by applicable law (with all costs and expenses in connection therewith to be paid solely by the Grantors): (i) The Term Agent shall, without recourse or warranty, take commercially reasonable steps to transfer the possession and control of the Pledged Collateral, if any, then in its possession or control, to the ABL Agent, except in the event and to the extent (A) such Collateral is sold, liquidated or otherwise disposed of by any of the Term Claimholders or by a Grantor as provided herein in full or partial satisfaction of any of the Term Debt or (B) any order of any court or other Governmental Authority or applicable law requires otherwise; and (ii) in connection with the terms of any collateral access or like agreement, whether with a landlord, processor, warehouseman or other third party or any control agreement, the Term Agent shall notify the other parties thereto that its rights thereunder have been assigned to the ABL Agent (to the extent such assignment is not prohibited by the terms of such

- 47 - agreement) and shall confirm to such parties that the ABL Agent is thereafter the “Agent” (or other comparable term) as such term is used in any such agreement and is otherwise entitled to the rights of the secured party under such agreement. (c) The foregoing provisions shall not impose on any of the ABL Claimholders or any of the Term Claimholders any obligations that would conflict with prior perfected claims therein in favor of any other Person or any order or decree of any court or other Governmental Authority or any applicable law or give rise to risk of legal liability. SECTION 6. INSOLVENCY PROCEEDINGS. 6.1 Enforceability and Continuing Priority. This Agreement shall be applicable both before and after the commencement of any Insolvency Proceeding and all converted or succeeding cases in respect thereof. The relative rights of the Claimholders in or to any distributions from or in respect of any Collateral, or proceeds of Collateral, shall continue after the commencement of any Insolvency Proceeding. Accordingly, the provisions of this Agreement are intended to be and shall be enforceable as a subordination agreement within the meaning of Section 510 of the Bankruptcy Code. 6.2 Financing. (a) Until the Payment in Full of ABL Priority Debt, if any Grantor shall be subject to any Insolvency Proceeding and if the ABL Agent consents to the use of cash collateral (as such term is defined in Section 363(a) of the Bankruptcy Code) constituting ABL Priority Collateral (herein, “ABL Cash Collateral”), or consents (or chooses to not object) to such Grantor obtaining financing, whether from any of the ABL Claimholders or any other Person, provided under Section 364 of the Bankruptcy Code or any similar provision of any other Bankruptcy Law secured by a Lien on such ABL Priority Collateral (such financing, an “ABL DIP Financing”), and if such ABL Cash Collateral use or ABL DIP Financing, as applicable, meets the applicable ABL DIP Financing Conditions, then the Term Agent will not be permitted to object and each will be deemed to have consented to such ABL Cash Collateral use and will raise no objection to such ABL DIP Financing, as applicable, and, if ABL DIP Financing is involved, the Term Agent will subordinate and will be deemed to have subordinated its Liens in the ABL Priority Collateral to the Liens securing such ABL DIP Financing. If such ABL Cash Collateral use or ABL DIP Financing, as applicable, meets some, but not all, of the applicable ABL DIP Financing Conditions, then the Term Agent unconditionally agrees that it will only withhold its consent to such ABL Cash Collateral use and will only raise an objection to such ABL DIP Financing based upon the ABL DIP Financing Condition(s) which are not met and will not withhold its consent or object on any other basis. If ABL DIP Financing is involved and any permitted objection of the Term Agent is withdrawn, overruled, or otherwise eliminated, each Term Agent will subordinate and will be deemed to have subordinated its Liens in the ABL Priority Collateral to the Liens securing such ABL DIP Financing. The Term Agent agrees that it shall not, nor shall any of the Term Claimholders, directly or indirectly, provide, offer to provide, or support any financing competing with the ABL DIP Financing, that in each case would be secured by a Lien on the ABL Priority Collateral that is senior to or pari passu with the Liens securing the ABL Debt. If, in connection with any ABL Cash Collateral use or ABL DIP Financing, any Liens on the ABL Priority Collateral held by the ABL Claimholders to secure the ABL Debt are subject to a surcharge or are subordinated to an administrative priority claim, a professional fee “carve-out,” or fees owed to the United States trustee in such proceeding, then the Liens on the ABL Priority Collateral of the Term Claimholders securing the Term Debt shall also be subordinated to such interest or claim and shall remain subordinated to the Liens on the ABL Priority Collateral of the ABL Claimholders consistent with this Agreement.

- 48 - (b) Until the Payment in Full of Term Priority Debt, if any Grantor shall be subject to any Insolvency Proceeding and if the Term Agent consents to the use of cash collateral (as such term is defined in Section 363(a) of the Bankruptcy Code) constituting Term Priority Collateral (herein, “Term Cash Collateral”), or consents (or chooses to not object) to such Grantor obtaining financing, whether from the Term Claimholders or any other Person, provided under Section 364 of the Bankruptcy Code or any similar provision of any other Bankruptcy Law secured by a Lien on such Term Priority Collateral (such financing, a “Term DIP Financing”), and if such Term Cash Collateral use or Term DIP Financing, as applicable, meets the applicable Term DIP Financing Conditions, then the ABL Agent will not be permitted to object and will be deemed to have consented to such Term Cash Collateral use and will raise no objection to such Term DIP Financing, as applicable, and, if Term DIP Financing is involved, the ABL Agent will subordinate and will be deemed to have subordinated its Liens in the Term Priority Collateral to the Liens securing such Term DIP Financing. If such Term Cash Collateral use or Term DIP Financing, as applicable, meets some, but not all, of the applicable Term DIP Financing Conditions, then the ABL Agent unconditionally agrees that it will only withhold its consent to such Term Cash Collateral use and will only raise an objection to such Term DIP Financing based upon the Term DIP Financing Condition(s) which are not met and will not withhold its consent or object on any other basis. If Term DIP Financing is involved and any permitted objection of the ABL Agent is withdrawn, overruled, or otherwise eliminated, the ABL Agent will subordinate and will be deemed to have subordinated its Liens in the Term Priority Collateral to the Liens securing such Term DIP Financing. The ABL Agent agrees that it shall not, and nor shall any of the ABL Claimholders, directly or indirectly, provide, offer to provide, or support any financing competing with the Term DIP Financing, that in each case would be secured by a Lien on the Term Priority Collateral that is senior to or pari passu with the Liens securing the Term Debt. If, in connection with any Term Cash Collateral use or Term DIP Financing, any Liens on the Term Priority Collateral held by the Term Claimholders to secure the Term Debt are subject to a surcharge or are subordinated to an administrative priority claim, a professional fee “carve-out,” or fees owed to the United States trustee in such proceeding, then the Liens on the Term Priority Collateral of the ABL Claimholders securing the ABL Debt shall also be subordinated to such interest or claim and shall remain subordinated to the Liens on the Term Priority Collateral of the Term Claimholders consistent with this Agreement. (c) All Liens granted to the ABL Agent or the Term Agent in any Insolvency Proceeding, whether as adequate protection or otherwise, are intended by the parties to be and shall be deemed to be subject to the Lien priorities in Section 2.1 and the other terms and conditions of this Agreement. Except as expressly set forth herein, nothing shall prevent the Agents or the Claimholders from objecting to any plan of reorganization under the Bankruptcy Code. (d) Notwithstanding anything to the contrary herein, including without limitation Sections 2.1 and 6.2(c) hereof, it is understood and agreed that the priority of the Liens securing (x) any ABL DIP Financing with respect to the ABL Priority Collateral shall at all times be senior to any Liens securing the Term Debt and such ABL DIP Financing shall not constitute (or be deemed to constitute) Excess ABL Debt and (y) any Term DIP Financing with respect to the Term Priority Collateral shall at all times be senior to any Liens securing the ABL Debt and such Term DIP Financing shall not constitute (or be deemed to constitute) Excess Term Debt. 6.3 Sales. Each Junior Agent agrees that it will consent to, and will not object to or oppose, or support, directly or indirectly, any other person seeking to object to or oppose, a motion that is supported by the Priority Agent (i) to Dispose of any of its Priority Collateral free and clear of the Liens of the Junior Agent under Section 363 or Section 1129 of the Bankruptcy Code or (ii) to approve any procedures for the sale or disposition of any of its Priority Collateral of any of the Grantors if (a) the Priority Agent has consented to the sale of such Collateral free and clear of the Liens of the Priority Agent, (b) such motion does not impair, subject to the priorities set forth in this Agreement, the rights of

- 49 - the Junior Claimholders under Section 363(k) of the Bankruptcy Code (so long as the right of the Junior Claimholders to offset their claims against the purchase price only arises after the Priority Debt has been paid in full in cash) and (c) either (i) pursuant to court order, the Liens of the Junior Agent attach to the net proceeds of the Disposition with the same priority and validity as the Liens held by such Junior Agent on such Priority Collateral, and the Liens remain subject to the terms of this Agreement, or (ii) the proceeds of the Disposition are promptly applied in accordance with Section 4.1. The foregoing to the contrary notwithstanding, the Junior Claimholders may oppose or raise any objections to such Disposition of such Priority Collateral that could be raised by an unsecured creditor of a Grantor; provided that such opposition or objections are not inconsistent with any other term or provision of this Agreement, do not include an opposition or objection to the proposed bidding procedures, and are not based on their status as secured creditors (without limiting the foregoing, the Junior Claimholders may not oppose or raise any objections based on rights afforded by Sections 363(e) and (f) of the Bankruptcy Code to secured creditors (or any comparable provision of any other Bankruptcy Law) with respect to the Liens granted to the Junior Agent in respect of such assets). Each Junior Agent or the Junior Claimholders (either directly or through one or more acquisition vehicles) may bid for Collateral at any public or private sale thereof, including credit bidding with respect to the Junior Collateral; provided that any such bid for the Collateral by the Junior Agent or the Junior Claimholders must provide for payment in cash of the full amount necessary to cause the Payment in Full of Priority Debt. 6.4 Relief from the Automatic Stay. Until the Payment in Full of Priority Debt has occurred, the Junior Agent agrees (on behalf of itself and the Junior Claimholders it represents) not to (a) seek (or support any other Person seeking) relief from the automatic stay or any other stay in any Insolvency Proceeding or take any action in contravention thereof in respect of any Priority Collateral, without the prior written consent of the Priority Agent; provided that the Junior Agent may seek relief from the automatic stay or any other stay in any Insolvency Proceeding in respect of such Priority Collateral if and to the extent that the Priority Agent has obtained relief from or modification of such stay in respect of the Priority Collateral, or (b) oppose (or support any other Person opposing) any request by the Priority Agent or any Priority Claimholder to seek relief from the automatic stay or any other stay in any Insolvency Proceeding in respect of any Priority Collateral. 6.5 Adequate Protection. (a) In any Insolvency Proceeding involving a Grantor: (i) each Junior Agent, on behalf of itself and each Junior Claimholder that it represents, agrees that it shall not object to or contest, or support any other person objecting to or contesting (and instead shall be deemed to have hereby irrevocably, absolutely, and unconditionally waived any right to do so): (A) any request by any Priority Claimholder with respect to any Priority Collateral prior to the applicable Payment in Full of Priority Debt, for adequate protection of its interest in the Priority Collateral, including a request for replacement or additional Liens on post-petition assets of the same type as such Priority Collateral; provided that any Junior Claimholder, solely in its capacity as a Priority Claimholder, may object to adequate protection in the form of cash payments to the extent such payment is sought to be paid from such Junior Claimholder’s Priority Collateral or the proceeds (or advances in respect) thereof, or (B) any objection by any Priority Claimholder to any motion, relief, action or proceeding based on such Priority Claimholders claiming a lack of adequate protection with respect to its Liens in their Priority Collateral;

- 50 - (ii) if any Priority Claimholder is granted adequate protection with respect to its rights in the Priority Collateral in the form of an additional or replacement Lien with respect to assets of the type included in such Priority Collateral, then the Priority Agent agrees that the Junior Agent shall also be entitled to seek, adequate protection in the form of an additional or replacement Lien with respect to the assets that are the subject of the Priority Claimholder’s additional or replacement Lien, which additional or replacement adequate protection Lien of the Junior Agent, if obtained, shall be subordinate to the adequate protection Liens in and to such assets securing the Priority Debt on the same basis as the other Liens securing the Junior Debt on the Junior Collateral are subordinated to the Liens on the Priority Collateral securing the Priority Debt under this Agreement; (iii) no Junior Claimholder may seek adequate protection with respect to its rights in the Priority Collateral except for adequate protection permitted pursuant to Section 6.5(a)(ii) and Section 6.5(a)(iv) or adequate protection in the form of an additional or replacement Lien in and to existing or future assets of Grantors, and the applicable Priority Agent shall also be entitled to seek, a senior adequate protection Lien in and to such existing or future assets of Grantors as security for the Priority Debt and that any adequate protection Lien in and to the Priority Collateral securing the Junior Debt shall be subordinated to such senior adequate protection Lien in and to the Priority Collateral securing the Priority Debt on the same basis as the other Liens securing the Junior Debt are subordinated to the Liens on the Priority Collateral securing the Priority Debt under this Agreement; (iv) each Claimholder may seek adequate protection with respect to its rights in the Collateral in the form of an additional or replacement Lien in and to existing or future Excluded Property; provided that, if the ABL Claimholders and the Term Claimholders each receive adequate protection in the form of Liens in and to the Excluded Property, then any such Liens in and to Excluded Property granted as adequate protection of such Claimholder’s interest in and to its Priority Collateral shall be senior in all respects, and prior to, any other Claimholder’s Lien in and to such Excluded Property granted as adequate protection of such other Claimholder’s interest in and to its Junior Collateral; (v) any adequate protection granted in favor of any Priority Claimholder in the form of a superpriority or other administrative expense claim and any claim in favor of any Priority Claimholder arising under Section 507(b) of the Bankruptcy Code (“Senior 507(b) Claims”), shall be pari passu with the grant of adequate protection in favor of the other Priority Claimholders in the form of a superpriority or other administrative expense claim and any Senior 507(b) Claims in favor of such other Priority Claimholders; and (vi) any claim arising under Section 507(b) of the Bankruptcy Code in favor of any Junior Claimholder shall be pari passu with the claims arising under Section 507(b) of the Bankruptcy Code in favor of the other Junior Claimholders (collectively, “Junior 507(b) Claims”), all Junior 507(b) Claims shall be junior and subordinate in right of payment to the Senior 507(b) Claims, and the holders of the Junior 507(b) Claims agree that, in connection with any plan of reorganization in such Insolvency Proceeding, such Junior 507(b) Claims may be paid in any combination of cash, securities, or other property having a present value equal to the amount of such Junior 507(b) Claims as of the effective date of confirmation of such plan. (b) No Junior Claimholder shall object to, oppose, or challenge the determination of the extent of any Liens held by any of the Priority Claimholders or the value of any claims of Priority Claimholders under Section 506(a) of the Bankruptcy Code or any claim by any Priority Claimholder for allowance of Priority Debt consisting of post-petition interest, fees, or expenses.

- 51 - 6.6 Specific Sections of the Bankruptcy Code. The Junior Claimholders shall not object to, oppose, support any objection to, or take any other action to impede, the right of any Priority Claimholder to make an election under Section 1111(b)(2) of the Bankruptcy Code. The Junior Claimholders waive any claim they may hereafter have against any Priority Claimholder arising out of the election by any Priority Claimholder of the application of Section 1111(b)(2) of the Bankruptcy Code. The Junior Claimholders agree that they will not, directly or indirectly, assert or support the assertion of, and hereby waive any right that they may have to assert or support the assertion of any claim under Section 506(c) or the “equities of the case” exception of Section 552(b) of the Bankruptcy Code as against any Priority Claimholder or with respect to any of the Priority Collateral to the extent securing the Priority Debt; provided that nothing herein shall restrict the holder of any debtor-in-possession financing from having, or seeking to have, such debtor-in-possession financing repaid, in whole or in part, from the proceeds of the assertion of any claim under Section 506(c) of the Bankruptcy Code (or any comparable provision of any other Bankruptcy Law); provided, further, that any such action does not violate Section 6.2. 6.7 No Waiver; Limitation. Subject to Sections 3.1, 3.2, 3.3 and the other provisions of this Section 6, nothing contained herein shall prohibit or in any way limit any Agent or any other Claimholder from objecting in any Insolvency Proceeding involving a Grantor to any action taken by the other Agent or any other Claimholder, including the seeking by the other Agent or any other Claimholder of adequate protection of any of its rights and remedies under the Term Documents or the ABL Documents, as applicable. 6.8 Avoidance Issues. If any Claimholder is required in any Insolvency Proceeding or otherwise to turn over, disgorge, or otherwise pay to the estate of any Grantor, because such amount was avoided or ordered to be paid or disgorged for any reason, including without limitation because it was found to be a fraudulent or preference transfer, any amount paid in respect of the Debt of such Claimholder (or if any Claimholder elects to do so upon the advice of counsel) (a “Recovery”), whether received as proceeds of security, enforcement of any right of set-off or otherwise, then the Debt of such Claimholder shall be reinstated to the extent of such Recovery and deemed to be outstanding as if such payment had not occurred, and all rights, interests, priorities, and privileges recognized in this Agreement shall apply with respect to any such Recovery. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement. Each Claimholder agrees that none of them shall be entitled to benefit from any avoidance action affecting or otherwise relating to any distribution or allocation made in accordance with this Agreement, whether by preference or otherwise, it being understood and agreed that the benefit of such avoidance action otherwise allocable to them shall instead be allocated and turned over for application in accordance with the priorities set forth in this Agreement. 6.9 Plan of Reorganization. (a) If, in any Insolvency Proceeding involving a Grantor, debt obligations of the reorganized debtor secured by Liens upon any property of the reorganized debtor are distributed pursuant to a confirmed plan of reorganization or similar dispositive restructuring plan, both on account of ABL Debt and on account of Term Debt, then, to the extent the debt obligations distributed on account of the ABL Debt and on account of the Term Debt are secured by Liens upon the same property, the provisions of this Agreement will survive the distribution of such debt obligations pursuant to such plan and will apply with like effect to the Liens securing such debt obligations.

- 52 - (b) The provisions of Section 1129(b)(1) of the Bankruptcy Code notwithstanding, the Claimholders agree that they will not propose, support, or vote in favor of any plan of reorganization of a Grantor that is inconsistent with the priorities or other provisions of this Agreement. (c) If, in connection with an Insolvency Proceeding involving a Grantor, the Term Claimholders receive any cash, debt, or equity securities on account of their Term Secured Claims in respect of their interest in the ABL Priority Collateral, the Term Agent or the other Term Claimholders, as applicable, shall turnover such cash, claims or securities to the ABL Agent for application in accordance with Section 4.1, unless (i) the receipt and retention of such cash, claims or securities is permitted under Section 6.5 or Section 6.9(c) of this Agreement, or (ii) the distribution of such cash, claims or securities is made pursuant to a confirmed plan of reorganization of such Grantor that is accepted by the requisite affirmative vote of all classes composed of the secured claims of the ABL Claimholders. The Term Agent irrevocably authorizes and empowers the ABL Agent, in the name of each Term Claimholder, to demand, sue for, collect, and receive any and all such distributions on account of any Term Secured Claim in respect of such Term Claimholder’s interest in the ABL Priority Collateral to which the ABL Claimholders are entitled hereunder. Nothing in this Agreement prohibits or limits the right of the Term Claimholders to receive and retain any cash, debt, or equity securities on account of Term Deficiency Claims or in respect of any other portion of their Term Secured Claims that are not on account of their interest in the ABL Priority Collateral. (d) If, in connection with an Insolvency Proceeding involving a Grantor, the ABL Claimholders receive any cash, debt, or equity securities on account of their ABL Secured Claims in respect of their interest in the Term Priority Collateral, the ABL Agent or the other ABL Claimholders, as applicable, shall turnover such cash, claims or securities to the Term Agent for application in accordance with Section 4.1, unless (i) the receipt and retention of such cash, claims or securities is permitted under Section 6.5 or Section 6.9(d) of this Agreement, or (ii) the distribution of such cash, claims or securities is made pursuant to a confirmed plan of reorganization of such Grantor that is accepted by the requisite affirmative vote of all classes composed of the secured claims of the Term Claimholders. The ABL Agent irrevocably authorizes and empowers the Term Agent, in the name of each ABL Claimholder, to demand, sue for, collect, and receive any and all such distributions on account of any ABL Secured Claim in respect of such ABL Claimholder’s interest in the Term Priority Collateral to which the Term Claimholders are entitled hereunder. Nothing in this Agreement prohibits or limits the right of the ABL Claimholders to receive and retain any cash, debt, or equity securities on account of ABL Deficiency Claims or in respect of any other portion of their ABL Secured Claims that are not on account of their interest in the Term Priority Collateral. 6.10 Post-Petition Interest. (a) Neither the ABL Agent nor any ABL Claimholder shall oppose or seek to challenge any claim by the Term Agent or any Term Claimholder for allowance in any Insolvency Proceeding of Term Secured Claims consisting of Post-Petition Interest, fees or expenses to the extent of the value of the Lien on the Term Priority Collateral securing any Term Claimholder’s claim, without regard to the existence of the Lien of the ABL Agent on behalf of the ABL Claimholders on the Term Priority Collateral; provided that nothing contained in this Agreement shall limit the right of the ABL Agent or any ABL Claimholder from objecting to the use of any cash payment of such Post-Petition Interest, fees or expenses with proceeds of ABL Priority Collateral, ABL Cash Collateral or ABL DIP Financing. (b) Neither the Term Agent nor any Term Claimholder shall oppose or seek to challenge any claim by the ABL Agent or any ABL Claimholder for allowance in any Insolvency Proceeding of ABL Secured Claims consisting of Post-Petition Interest, fees or expenses to the extent of

- 53 - the value of the Lien on the ABL Priority Collateral securing any ABL Claimholder’s claim, without regard to the existence of the Lien of the Term Agent on behalf of the Term Claimholders on the ABL Priority Collateral; provided that nothing contained in this Agreement shall limit the right of the Term Agent or any Term Claimholder from objecting to the use of any cash payment of such Post-Petition Interest, fees or expenses with proceeds of Term Priority Collateral, Term Cash Collateral or Term DIP Financing. 6.11 Separate Grants of Security and Separate Classification. (a) In furtherance of the foregoing, each Term Agent, for itself and on behalf of the Term Claimholders it represents, and the ABL Agent, for itself and on behalf of the ABL Claimholders, acknowledges and agrees that the grants of Liens pursuant to the ABL Collateral Documents and the Term Collateral Documents constitute separate and distinct grants of Liens, and because of, among other things, their differing rights in the Collateral, the Term Secured Claims are fundamentally different from the ABL Secured Claim and must be separately classified in any plan of reorganization proposed or adopted in an Insolvency Proceeding. In furtherance of the foregoing, each Term Agent, for itself and on behalf of the Term Claimholders it represents, and the ABL Agent, for itself and on behalf of the ABL Claimholders, each agrees that the Term Claimholders and the ABL Claimholders will vote as separate classes in connection with any plan of reorganization in any Insolvency Proceeding and that no Agent nor any Claimholder will seek to vote with the other as a single class in connection with any plan of reorganization in any Insolvency Proceeding. (b) To further effectuate the intent of the parties as provided in this Section 6.11, if it is held that the claims of the Term Claimholders and the ABL Claimholders in respect of the Term Priority Collateral constitute only one secured claim (rather than separate classes of senior and junior secured claims), then each Term Agent, for itself and on behalf of the Term Claimholders it represents, and the ABL Agent, for itself and on behalf of the ABL Claimholders, hereby acknowledges and agrees that, subject to Sections 2.1 and 4.1, all distributions in respect of the Term Priority Collateral shall be made as if there were separate classes of senior and junior secured claims against the Grantors in respect of the Term Priority Collateral (with the effect being that, to the extent that the aggregate value of the Term Priority Collateral is sufficient (for this purpose ignoring all claims held by the ABL Claimholders), the Term Claimholders shall be entitled to receive, in addition to amounts distributed to them in respect of principal, pre-petition interest and other claims, all amounts owing (or would be owing if there were such separate classes of claims) in respect of Post-Petition Interest, including any additional interest payable pursuant to the Term Documents, arising from or related to a default, which is disallowed as a claim in any Insolvency Proceeding) before any distribution in respect of the Term Priority Collateral is made in respect of the claims held by the ABL Claimholders, with the ABL Agent, for itself and on behalf of the ABL Claimholders, hereby acknowledging and agreeing to turn over to the Term Agent, for itself and on behalf of the Term Claimholders it represents, amounts otherwise received or receivable by them in respect of the Term Priority Collateral to the extent necessary to effectuate the intent of this sentence, even if such turnover has the effect of reducing the claim or recovery of the ABL Claimholders. (c) To further effectuate the intent of the parties as provided in this Section 6.11, if it is held that the claims of the Term Claimholders and the ABL Claimholders in respect of the ABL Priority Collateral constitute only one secured claim (rather than separate classes of senior and junior secured claims), then each Term Agent, for itself and on behalf of the Term Claimholders it represents, and the ABL Agent, for itself and on behalf of the ABL Claimholders, hereby acknowledges and agrees that, subject to Sections 2.1 and 4.1, all distributions in respect of the ABL Priority Collateral shall be made as if there were separate classes of senior and junior secured claims against the Grantors in respect of the ABL Priority Collateral (with the effect being that, to the extent that the aggregate value of the ABL Priority Collateral is sufficient (for this purpose ignoring all claims held by the Term Claimholders),

- 54 - the ABL Claimholders shall be entitled to receive, in addition to amounts distributed to them in respect of principal, pre-petition interest and other claims, all amounts owing (or would be owing if there were such separate classes of claims) in respect of Post-Petition Interest, including any additional interest payable pursuant to the ABL Documents, arising from or related to a default, which is disallowed as a claim in any Insolvency Proceeding) before any distribution in respect of the ABL Priority Collateral is made in respect of the claims held by the Term Claimholders, with each Term Agent, for itself and on behalf of the Term Claimholders it represents, hereby acknowledging and agreeing to turn over to the ABL Agent, for itself and on behalf of the ABL Claimholders, amounts otherwise received or receivable by them in respect of the ABL Priority Collateral to the extent necessary to effectuate the intent of this sentence, even if such turnover has the effect of reducing the claim or recovery of the Term Claimholders. SECTION 7. RELIANCE; WAIVERS; ETC. 7.1 Reliance. Other than any reliance on the terms of this Agreement, the ABL Agent acknowledges that it and each of the other ABL Claimholders have, independently and without reliance on any of the Term Claimholders, and based on documents and information deemed by them appropriate, made their own credit analysis and decision to enter into each of the ABL Documents and be bound by the terms of this Agreement and they will continue to make their own credit decision in taking or not taking any action under the ABL Documents or this Agreement. Other than any reliance on the terms of this Agreement, the Term Agent acknowledges that it and each of the other Term Claimholders it represents have, independently and without reliance on any of the ABL Claimholders, and based on documents and information deemed by them appropriate, made their own credit analysis and decision to enter into each of the Term Documents and be bound by the terms of this Agreement and they will continue to make their own credit decision in taking or not taking any action under the Term Documents or this Agreement. 7.2 No Warranties or Liability. The ABL Agent acknowledges and agrees that none of the Term Claimholders have made any express or implied representation or warranty, including with respect to the execution, validity, legality, completeness, collectability or enforceability of any of the Term Documents, the ownership of any Collateral or the perfection or priority of any Liens thereon. Except as otherwise expressly provided herein, the applicable Term Claimholders will be entitled to manage and supervise their respective loans and extensions of credit under the Term Documents in accordance with law and as they may otherwise, in their sole discretion, deem appropriate. The Term Agent acknowledges and agrees that none of the ABL Claimholders has made any express or implied representation or warranty, including with respect to the execution, validity, legality, completeness, collectability or enforceability of any of the ABL Documents, the ownership of any Collateral or the perfection or priority of any Liens thereon. Except as otherwise expressly provided herein, the ABL Claimholders will be entitled to manage and supervise their respective loans and extensions of credit under the ABL Documents in accordance with law and as they may otherwise, in their sole discretion, deem appropriate. The Term Claimholders shall have no duty to the ABL Claimholders, and the ABL Claimholders shall have no duty to the Term Claimholders, to act or refrain from acting in a manner that allows, or results in, the occurrence or continuance of an event of default or default under any agreements with any Grantor (including the ABL Documents and the Term Documents), regardless of any knowledge thereof which they may have or be charged with. 7.3 No Waiver of Lien Priorities. (a) No right of any of the Claimholders, any Agent or any of them to enforce any provision of this Agreement or any Loan Document shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of any Grantor or by any act or failure to act by any other Claimholder or any Agent, or by any noncompliance by any person with the terms, provisions and

- 55 - covenants of this Agreement or any of the Loan Documents, regardless of any knowledge thereof which any Agent or any other Claimholder may have (or be otherwise charged with). (b) Without in any way limiting the generality of the provisions of Section 7.3(a) (but subject to any rights of the Grantors under the ABL Documents and subject to the provisions of Section 5.3(a)), the ABL Claimholders may, at any time and from time to time in accordance with the ABL Documents or applicable law, without the consent of, or notice to, any of the Term Claimholders, without incurring any liabilities to any of the Term Claimholders and without impairing or affecting the Lien priorities and other benefits provided in this Agreement (even if any right of subrogation or other right or remedy of any of the Term Claimholders is affected, impaired or extinguished thereby) do any one or more of the following: (i) change the manner, place or terms of payment or change or extend the time of payment of, or amend, renew, exchange, increase or alter, the terms of any of the ABL Debt or any Lien on any ABL Collateral or guarantee thereof or any liability of any Grantor, or any liability incurred directly or indirectly in respect thereof (including any increase in or extension of the ABL Debt, without any restriction as to the tenor or terms of any such increase or extension) or otherwise amend, renew, exchange, extend, modify or supplement in any manner any Liens held by any of the ABL Claimholders, the ABL Debt or any of the ABL Documents; (ii) sell, exchange, release, surrender, realize upon, enforce or otherwise deal with in any manner and in any order all or any part of the ABL Priority Collateral or any liability of any Grantor to any ABL Claimholder, or any liability incurred directly or indirectly in respect thereof; (iii) settle or compromise any ABL Debt or any other liability of any Grantor or any security therefor or any liability incurred directly or indirectly in respect thereof and apply any sums by whomsoever paid and however realized to any liability (including the ABL Debt) in any manner or order; and (iv) exercise or delay in or refrain from exercising any right or remedy against any Grantor or any other person, elect any remedy and otherwise deal freely with any Grantor or any ABL Priority Collateral and any guarantor or any liability of any Grantor to any of the ABL Claimholders or any liability incurred directly or indirectly in respect thereof. (c) Except as otherwise provided herein, the Term Agent also agrees that the ABL Claimholders shall have no liability to any of the Term Claimholders, and each Term Agent hereby waives any claim of the Term Claimholders it represents against any of the ABL Claimholders arising out of any and all actions which any of the ABL Claimholders may, pursuant to the terms hereof, take, permit or omit to take with respect to: (i) the ABL Documents; (ii) the collection of the ABL Debt; or (iii) the foreclosure upon, or sale, liquidation or other disposition of, or the failure to foreclose upon, or sell, liquidate or otherwise dispose of, any ABL Priority Collateral. The Term Agent agrees that the ABL Claimholders have no duty to the Term Claimholders in respect of the maintenance or preservation of the ABL Priority Collateral, the ABL Debt, or otherwise.

- 56 - (d) Without in any way limiting the generality of the provisions of Section 7.3(a) (but subject to any rights of the Grantors under the Term Documents and subject to the provisions of Section 5.3(b)), the Term Claimholders may, at any time and from time to time in accordance with the Term Documents or applicable law, without the consent of, or notice to, any of the ABL Claimholders, without incurring any liabilities to any of the ABL Claimholders and without impairing or affecting the Lien priorities and other benefits provided in this Agreement (even if any right of subrogation or other right or remedy of any of the ABL Claimholders is affected, impaired or extinguished thereby) do any one or more of the following: (i) change the manner, place or terms of payment or change or extend the time of payment of, or amend, renew, exchange, increase or alter, the terms of any of the Term Debt or any Lien on any Term Collateral or guarantee thereof or any liability of any Grantor, or any liability incurred directly or indirectly in respect thereof (including any increase in or extension of the Term Debt, without any restriction as to the tenor or terms of any such increase or extension) or otherwise amend, renew, exchange, extend, modify or supplement in any manner any Liens held by the Term Claimholders, the Term Debt or any of the Term Documents; (ii) subject to Section 3.9, sell, exchange, release, surrender, realize upon, enforce or otherwise deal with in any manner and in any order all or any part of the Term Priority Collateral or any liability of any Grantor to any Term Claimholder, or any liability incurred directly or indirectly in respect thereof; (iii) settle or compromise any Term Debt or any other liability of any Grantor or any security therefor or any liability incurred directly or indirectly in respect thereof and apply any sums by whomsoever paid and however realized to any liability (including the Term Debt) in any manner or order; and (iv) exercise or delay in or refrain from exercising any right or remedy against any Grantor or any other person, elect any remedy and otherwise deal freely with any Grantor or any Term Priority Collateral and any guarantor or any liability of any Grantor to any of the Term Claimholders or any liability incurred directly or indirectly in respect thereof. (e) Except as otherwise provided herein, the ABL Agent also agrees that the Term Claimholders shall have no liability to any of the ABL Claimholders, and the ABL Agent hereby waives any claim of the ABL Claimholders against any of the Term Claimholders arising out of any and all actions which any of the Term Claimholders may, pursuant to the terms hereof, take, permit or omit to take with respect to: (i) the Term Documents; (ii) the collection of the Term Debt; or (iii) the foreclosure upon, or sale, liquidation or other disposition of, or the failure to foreclose upon, or sell, liquidate or otherwise dispose of, any Term Priority Collateral. The ABL Agent agrees that the Term Claimholders have no duty to the ABL Claimholders in respect of the maintenance or preservation of the Term Priority Collateral, the Term Debt, or otherwise. (f) Until the Payment in Full of ABL Priority Debt and the Payment in Full of Term Priority Debt, each of the Term Agents and the ABL Agent agrees not to assert and hereby waives, to the fullest extent permitted by law, any right to demand, request, plead, or otherwise assert, or otherwise

- 57 - claim the benefit of, any marshaling, appraisal, valuation, or other similar right that may otherwise be available under applicable law with respect to the other Agent’s Priority Collateral or any other similar rights a junior secured creditor may have under applicable law. 7.4 Obligations Unconditional. For so long as this Agreement is in full force and effect, all rights, interests, agreements and obligations of the ABL Claimholders and the Term Claimholders, respectively, hereunder shall remain in full force and effect irrespective of: (i) any lack of validity or enforceability of any ABL Documents or any Term Documents; (ii) except as otherwise expressly restricted in this Agreement, any change in the time, manner or place of payment of, or in any other terms of, all or any of the ABL Debt or Term Debt, or any amendment or waiver or other modification, including any increase in the amount thereof, whether by course of conduct or otherwise, of the terms of any ABL Document or any Term Document; (iii) except as otherwise expressly restricted in this Agreement, any exchange of any security interest in any Collateral or any other collateral, or any amendment, waiver or other modification, whether in writing or by course of conduct or otherwise, of all or any of the ABL Debt or Term Debt or any guarantee thereof; (iv) the commencement of any Insolvency Proceeding in respect of any Grantor; or (v) any other circumstances which otherwise might constitute a defense available to any Grantor in respect of the ABL Debt or the Term Debt. SECTION 8. MISCELLANEOUS. 8.1 Conflicts. In the event of any conflict between the provisions of this Agreement and the provisions of any of the ABL Documents or any of the Term Documents, the provisions of this Agreement shall govern and control. 8.2 Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of lien subordination and the Claimholders may continue, at any time and without notice to any Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor constituting ABL Debt or Term Debt in reliance hereof. Each Agent hereby waives any right it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency Proceeding. Any provision of this Agreement that is prohibited or unenforceable shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for such Grantor in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect: (i) with respect to the ABL Claimholders and the ABL Debt, on the date of the indefeasible payment in full in cash of the ABL Debt (other than ABL Hedging Obligations and Bank Product Obligations and indemnity and other contingent obligations as to which no claim has been asserted), the cancellation or expiration of all Letters of Credit issued under the

- 58 - ABL Credit Agreement (unless cash collateralized, otherwise collateralized with “back to back” letters of credit or otherwise supported), and the termination of all commitments thereunder; and (ii) with respect to the Term Claimholders and the Term Debt, on the date of the indefeasible payment in full in cash of the Term Debt (other than indemnity and other contingent obligations as to which no claim has been asserted), and the termination of all commitments thereunder. 8.3 Amendments; Waivers. No amendment, modification or waiver of any of the provisions of this Agreement shall be effective unless the same shall be in writing signed on behalf of each party hereto or its authorized agent and each waiver, if any, shall be a waiver only with respect to the specific instance involved and shall in no way impair the rights of the parties making such waiver or the obligations of the other parties to such party in any other respect or at any other time. Each of the ABL Agent, on behalf of itself and the other ABL Claimholders, and the Term Agent, on behalf of itself and the other Term Claimholders that it represents, agrees that, notwithstanding anything to the contrary contained in this Agreement, any ABL Document or any Term Document, (i) no Grantor shall be bound by any amendment, modification or waiver of this Agreement that materially and adversely affects any Grantor unless consented to in writing by Holdings, (ii) except as otherwise provided for herein, all references in any ABL Document or any Term Document to this Agreement (including any references to terms defined herein or provisions hereof) as they relate to any obligations or rights of, or any covenants, restrictions, limitations, defaults, events of default or agreements applicable to, any Grantor shall mean this Agreement as in effect on the date hereof or as amended or modified in accordance with the ABL Credit Agreement or the Term Credit Facility Agreement (other than any Term Hedge Agreement), as applicable, and (iii) this sentence shall inure to the benefit of the Grantors and their Subsidiaries and shall not be amended, modified or waived without the written consent of Holdings. Notwithstanding the foregoing, any Additional Term Agent or Additional Term Representative, on behalf of itself and the Term Claimholders it represents under any Additional Term Debt Agreement, may become a party to this Agreement, without any further action by any other party hereto, upon execution and delivery by Holdings and such Additional Term Agent and/or Additional Term Representative of a properly completed Additional Joinder Agreement to each Agent. In the event that any Person that is not a Guarantor on the date hereof becomes a Guarantor under the ABL Credit Agreement or the Term Credit Facility Agreement, such Person shall execute and deliver to each Agent a joinder agreement in substantially the form of Exhibit B attached hereto and shall thereafter for all purposes have the same rights, benefits and obligations as a Grantor hereto. 8.4 Information Concerning Financial Condition of Holdings and its Subsidiaries. The ABL Claimholders, on the one hand, and the Term Claimholders (other than the Term Agent and the Trustee), on the other hand, shall each be responsible for keeping themselves informed of (a) the financial condition of Holdings and its Subsidiaries and all endorsers or guarantors of the ABL Debt or the Term Debt and (b) all other circumstances bearing upon the risk of nonpayment of the ABL Debt or the Term Debt. The ABL Claimholders shall have no duty to advise the Term Claimholders of information known to them regarding such condition or any such circumstances or otherwise. The Term Claimholders shall have no duty to advise the ABL Claimholders of information known to them regarding such condition or any such circumstances or otherwise. In the event any of the ABL Claimholders or any of the Term Claimholders, in its sole discretion, undertakes at any time or from time to time to provide any such information to any other party to this Agreement, it shall be under no obligation: (i) to make nor shall it be deemed to have made, and the ABL Claimholders and the Term Claimholders, as the case may be, shall not be under any obligation to make nor shall they be deemed to have made, any express or implied representation or warranty, including

- 59 - with respect to the accuracy, completeness, truthfulness or validity of any such information so provided; (ii) to provide any additional information or to provide any such information on any subsequent occasion; (iii) to undertake any investigation; or (iv) to disclose any information, which pursuant to accepted or reasonable commercial practices, such party wishes to maintain confidential or is otherwise required to maintain confidential. 8.5 Subrogation. (a) With respect to any payments or distributions in cash, property or other assets that any Term Claimholder pays over to the ABL Agent under the terms of this Agreement, such Term Claimholders shall be subrogated to the rights of the ABL Claimholders, and (b) with respect to any payments or distributions in cash, property or other assets that any ABL Claimholder pays over to the Term Agent under the terms of this Agreement, such ABL Claimholders shall be subrogated to the rights of the Term Claimholders; provided that (x) the Term Claimholders hereby agree not to assert or enforce any such rights of subrogation they may acquire as a result of any payment hereunder until the Payment in Full of ABL Priority Debt has occurred, and (y) the ABL Claimholders hereby agree not to assert or enforce any such rights of subrogation they may acquire as a result of any payment hereunder until the Payment in Full of Term Priority Debt has occurred. 8.6 SUBMISSION TO JURISDICTION; WAIVERS. (a) EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THE COMMERCIAL DIVISION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN THE BOROUGH OF MANHATTAN AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF (OTHER THAN WITH RESPECT TO ACTIONS BY THE AGENT IN RESPECT OF RIGHTS UNDER ANY COLLATERAL DOCUMENT GOVERNED BY LAWS OTHER THAN THE LAWS OF THE STATE OF NEW YORK OR WITH RESPECT TO ANY COLLATERAL SUBJECT THERETO), IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT SITTING IN THE BOROUGH OF MANHATTAN. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. (b) EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY) IN ANY COURT REFERRED TO IN THIS SECTION 8.6. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT

- 60 - PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT AND AGREES NOT ASSERT ANY SUCH DEFENSE. (c) EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 8.7. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. (d) EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 8.7 Notices. All notices permitted or required under this Agreement shall be sent to the Term Agent and the ABL Agent, as the case may be, in accordance with the notice provisions set forth on Schedule 1 hereto. Unless otherwise specifically provided herein, any notice hereunder shall be in writing and may be personally served or sent by fax or United States mail or courier service or electronic mail in accordance with, and subject to the restrictions of, the ABL Credit Agreement and the Term Credit Facility Agreement. For the purposes hereof, the addresses of the parties hereto shall be as may be designated by such party in a written notice to all of the other parties. 8.8 Further Assurances. The ABL Agent and the Term Agent each agrees to take such further action and shall execute and deliver such additional documents and instruments (in recordable form, if requested) as the ABL Agent or the Term Agent may reasonably request to effectuate the terms of and the Lien priorities contemplated by this Agreement, all at the sole expense of Holdings. In furtherance of the foregoing, (i) the ABL Agent agrees that, if there is a Refinancing of any of the Term Debt and if the agent or other representative of the holders of the indebtedness that Refinances such Term Debt so requests, it will execute and deliver either an acknowledgement of the joinder of such agent or representative to this Agreement or an agreement with such agent or representative identical to this Agreement (subject to changing names of parties, documents and addresses, as appropriate) in favor of any such agent or representative, and (ii) the Term Agent agrees that, if there is a Refinancing of the ABL Debt and if the agent or other representative of the holders of the indebtedness that Refinances the ABL Debt so requests, it will execute and deliver either an acknowledgement of the joinder of such agent or representative to this Agreement or an agreement with such agent or representative identical to this Agreement (subject to changing names of parties, documents and addresses, as appropriate) in favor of any such agent or representative. 8.9 Applicable Law. This Agreement shall be deemed to be a contract under the laws of the State of New York and shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to its conflict of laws principles that would require the application of any other law.

- 61 - 8.10 Binding on Successors and Assigns. This Agreement shall be binding upon the ABL Agent, the ABL Claimholders, the Term Agent, the Term Claimholders and their respective successors and assigns. 8.11 Headings. Section headings in this Agreement are included herein for convenience of reference only and shall not constitute a part of this Agreement for any other purpose or be given any substantive effect. 8.12 Counterparts. This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Agreement or any document or instrument delivered in connection herewith by fax, electronic mail or other similar electronic transmission shall be effective as delivery of a manually executed counterpart of this Agreement or such other document or instrument, as applicable. The words “execution,” “signed,” “signature,” and words of like import in this Agreement or any other Loan Document shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based record keeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 8.13 Third Party Beneficiaries. This Agreement and the rights and benefits hereof shall inure to the benefit of each of the parties hereto and its respective successors and assigns and shall inure to the benefit of and bind each of the ABL Claimholders and the Term Claimholders. Other than Section 8.3, in no event shall any Grantor be a third party beneficiary of this Agreement. 8.14 Provisions Solely to Define Relative Rights. The provisions of this Agreement are and are intended solely for the purpose of defining the relative rights of the ABL Claimholders, on the one hand, and the Term Claimholders on the other hand. No Grantor or any other creditor thereof shall have any rights hereunder and no Grantor may rely on the terms hereof; provided that the Grantors shall be entitled to rely on the provisions of this Agreement to the extent necessary for purposes of making representations and warranties under the applicable Loan Documents and to the benefit of Section 8.3 and this Section 8.14. Nothing in this Agreement shall impair, as between the Grantors and the ABL Claimholders, or as between the Grantors and the Term Claimholders, the obligations of the Grantors to pay principal, interest, premium, fees and other amounts as provided in the ABL Documents and the Term Documents, respectively. Nothing in this Agreement shall create, vary or modify the rights or duties of the ABL Claimholders, inter se, under the ABL Documents or the rights or duties of the Term Claimholders, inter se, under the Term Documents. 8.15 Integration. This Agreement reflects the entire understanding of the parties with respect to the subject matter hereof and shall not be contradicted or qualified by any other agreement, oral or written, before the date hereof. 8.16 Reciprocal Rights. Notwithstanding anything in this Agreement to the contrary, the terms and provisions of this Agreement shall (i) from and after the Payment in Full of ABL Priority Debt and until the Payment in Full of the Term Priority Debt, apply to and govern, mutatis mutandis, the relationship between the Term Claimholders with respect to the Term Priority Debt, on the one hand, and the ABL Claimholders with respect to the Excess ABL Debt, on the other hand, and (ii) from and after the Payment in Full of the Term Priority Debt until the Payment in Full of the ABL Priority Debt, apply to and govern, mutatis mutandis, the relationship between the ABL Claimholders with respect to the ABL

- 62 - Priority Debt, on the one hand, and the Term Claimholders with respect to the Excess Term Debt, on the other hand. 8.17 Capacity of Initial Term Agent. Wilmington Trust, National Association is entering into this Agreement solely in its capacities as Trustee and Priority Lien Collateral Agent under each Term Document for which Wilmington Trust, National Association acts as Trustee and/or Priority Lien Collateral Agent, as applicable, and the rights, powers, privileges and protections afforded to each of the Trustee and the Priority Lien Collateral Agent under each Term Document for which Wilmington Trust, National Association is the Trustee and/or Priority Lien Collateral Agent shall also apply to Wilmington Trust, National Association as the Initial Term Representative and the Initial Term Agent, respectively, hereunder. The Term Claimholders have expressly authorized and instructed Wilmington Trust, National Association to execute and deliver this Agreement as Initial Term Agent and Initial Term Representative. SECTION 9. TERM PURCHASE OPTION. 9.1 Notice of Exercise. (a) If a Term Purchase Option Trigger shall occur, the Term Claimholders shall have the right but not the obligation at any time during the period of 15 calendar days following the delivery of written notice by the ABL Agent to the Term Agent of the occurrence of the Term Purchase Option Trigger (such period, the “Term Purchase Option Period”), to purchase all (but not less than all) of the ABL Debt from the ABL Claimholders. If the Term Claimholders desire to exercise their option to purchase the ABL Debt, the Term Agent (acting pursuant to an Act of Required Secured Parties) shall deliver a written notice (any such notice under this Section 9.1, a “Term Purchase Notice”) to the ABL Agent prior to the expiration of the Term Purchase Option Period. (b) A Term Purchase Notice, once delivered, shall be irrevocable. If a Term Purchase Option Trigger shall occur and the Term Agent does not deliver a Term Purchase Notice to the ABL Agent prior to the expiration of the Term Purchase Option Period, the Term Claimholders shall have no further right to purchase, and the ABL Claimholders shall have no further obligation to sell, the ABL Debt pursuant to this Section 9. 9.2 Purchase and Sale. If the Term Agent shall timely deliver a Term Purchase Notice to the ABL Agent, on the date specified in the Term Purchase Notice (which date shall not be less than 3 Business Days, nor more than 10 calendar days, after delivery of the Term Purchase Notice), the ABL Claimholders shall sell to the applicable Term Claimholders, and the applicable Term Claimholders shall purchase from the ABL Claimholders, all of the ABL Debt; provided that the ABL Agent and the other ABL Claimholders shall retain all rights to be indemnified or held harmless by the Grantors in accordance with the terms of the ABL Documents but shall not retain any rights to the security therefor. Upon receipt of a Term Purchase Notice, the ABL Agent shall not commence any Enforcement Action (or, if the ABL Agent shall have already commenced Enforcement Action, shall cease such Enforcement Action) against any Collateral; provided that, if for any reason, the applicable Term Claimholders shall fail to complete the purchase of the ABL Debt by the date set forth in the Term Purchase Notice, the ABL Agent shall be entitled to immediately commence (or to continue) Enforcement Action against the ABL Priority Collateral. It is understood and agreed that the Term Agent’s sole responsibility in connection with a potential Term Purchase Option Trigger is to deliver the Term Purchase Notice to the ABL Agent in accordance with the Term Intercreditor Agreement. 9.3 Payment of Purchase Price. If the Term Agent shall timely deliver a Term Purchase Notice in accordance with Section 9.1(a), upon the date specified in the Term Purchase Notice,

- 63 - the applicable purchasing Term Claimholders shall (i) pay to the ABL Agent for the benefit of the ABL Claimholders as the purchase price therefor an amount equal to 100% of the ABL Debt then outstanding and unpaid (including principal, interest, fees and expenses, including reasonable attorneys’ fees and legal expenses and indemnification amounts to the extent a claim for such amount has been made on such date but specifically excluding any prepayment premium, termination or similar fees), (ii) furnish cash collateral to the ABL Agent in a manner and in such amounts (not to exceed 103% of the face amount thereof) as is required in accordance with the terms of the ABL Documents in connection with any issued and outstanding Letters of Credit and Bank Product Obligations, (iii) agree to reimburse the ABL Agent and the ABL Claimholders for any loss, cost, damage or expense (including reasonable attorneys’ fees and legal expenses) in connection with any commissions, fees, costs or expenses related to any issued and outstanding Letters of Credit and any checks or other payments provisionally credited to the ABL Debt, and/or as to which the ABL Agent has not yet received final payment, and (iv) agree to indemnify and hold harmless the ABL Agent and the other ABL Claimholders from and against any loss, liability, claim, damage or expense (including reasonable fees and expenses of legal counsel) arising out of any claim asserted by a third party in respect of the ABL Debt as a direct result of any acts by any Term Claimholder occurring after the date of such purchase. Such purchase price and cash collateral shall be remitted by wire transfer in federal funds to such bank account as the ABL Agent may designate in writing for such purpose. 9.4 Supplemental Purchase Price. Anything contained in this Section 9 to the contrary notwithstanding, in the event that (i) the purchasing Term Claimholders receive all or a portion of any prepayment premium, make-whole obligation or early termination fee payable pursuant to the ABL Documents in cash, (ii) all ABL Debt purchased by such purchasing Term Claimholders including principal, interest and fees thereon and costs and expenses of collection thereof (including reasonable attorneys’ fees and legal expenses), is repaid in full in cash, and (iii) the ABL Credit Agreement is terminated, in each case, within 180 days following the date on which the purchasing Term Claimholders pay the purchase price described above in Section 9.3, then, within three Business Days after receipt by such applicable Term Claimholders of such amounts, the purchasing Term Claimholders shall pay a supplemental purchase price to the ABL Agent, for the benefit of the ABL Claimholders, in respect of their purchase under this Section 9 in an amount equal to the portion of the prepayment premium, make- whole obligation or early termination fee received by the purchasing Term Claimholders to which the ABL Claimholders would have been entitled to receive had the purchase under this Section 9 not occurred. 9.5 Resignation. In the event that any one or more of the Term Claimholders exercises and consummates the purchase option set forth in this Section 9, (i) the ABL Agent shall have the right, but not the obligation, to immediately resign under the ABL Credit Agreement, and (ii) the purchasing Term Claimholders shall have the right, but not the obligation, to require the ABL Agent to immediately resign under the ABL Credit Agreement. SECTION 10. ABL PURCHASE OPTION. 10.1 Notice of Exercise. (a) If an ABL Purchase Option Trigger shall occur, the ABL Claimholders shall have the right but not the obligation at any time during the period of 15 calendar days following the earlier of (i) delivery of written notice by the Term Agent to the ABL Agent of the occurrence of the ABL Purchase Option Trigger and (ii) the ABL Agent’s actual knowledge of the occurrence of such ABL Purchase Option Trigger (such period, the “ABL Purchase Option Period”), to purchase all (but not less than all) of the Term Debt from the Term Claimholders. If the ABL Claimholders desire to exercise their option to purchase the Term Debt, the ABL Agent shall deliver a written notice (any such notice under

- 64 - this Section 10.1, an “ABL Purchase Notice”) to the Term Agent prior to the expiration of the ABL Purchase Option Period. (b) An ABL Purchase Notice, once delivered, shall be irrevocable. If an ABL Purchase Option Trigger shall occur and the ABL Agent does not deliver an ABL Purchase Notice to the Term Agent prior to the expiration of the ABL Purchase Option Period, the ABL Claimholders shall have no further right to purchase, and the Term Claimholders shall have no further obligation to sell, the Term Debt pursuant to this Section 10. 10.2 Purchase and Sale. If the ABL Agent shall timely deliver an ABL Purchase Notice to the Term Agent, on the date specified by the ABL Agent in the ABL Purchase Notice (which date shall not be less than 3 Business Days, nor more than 10 calendar days, after delivery of the ABL Purchase Notice), the Term Claimholders shall sell to the applicable ABL Claimholders, and the applicable ABL Claimholders shall purchase from the Term Claimholders, all of the Term Debt; provided that the Term Agent and the other Term Claimholders shall retain all rights to be indemnified or held harmless by the Grantors in accordance with the terms of the Term Documents but shall not retain any rights to the security therefor. Upon receipt of an ABL Purchase Notice, the Term Agent shall not commence any Enforcement Action (or, if the Term Agent shall have already commenced Enforcement Action, shall cease such Enforcement Action) against any Collateral; provided that, if for any reason, the ABL Claimholders shall fail to complete the purchase of the Term Debt by the date set forth in the ABL Purchase Notice, the Term Agent shall be entitled to immediately commence (or to continue) Enforcement Action against the Term Priority Collateral. 10.3 Payment of Purchase Price. If the ABL Agent shall timely deliver an ABL Purchase Notice in accordance with Section 10.1(a), upon the date specified in the ABL Purchase Notice, the applicable purchasing ABL Claimholders shall (i) pay to the Term Claimholders or their designee for the benefit of the Term Claimholders as the purchase price therefor an amount equal to 100% of the Term Debt then outstanding and unpaid (including principal, interest, fees and expenses, including reasonable attorneys’ fees and legal expenses and indemnification amounts to the extent a claim for such amount has been made on such date but specifically excluding any prepayment premium, termination or similar fees), (ii) agree to reimburse the Term Agent and the Term Claimholders for any loss, cost, damage or expense (including reasonable attorneys’ fees and legal expenses) in connection with any checks or other payments provisionally credited to the Term Debt, and/or as to which the Term Agent has not yet received final payment, and (iii) agree to indemnify and hold harmless the Term Agent and the other Term Claimholders from and against any loss, liability, claim, damage or expense (including reasonable fees and expenses of legal counsel) arising out of any claim asserted by a third party in respect of the Term Debt as a direct result of any acts by any ABL Claimholder occurring after the date of such purchase. Such purchase price and cash collateral shall be remitted by wire transfer in federal funds to such bank account as the Term Agent may designate in writing for such purpose. 10.4 Supplemental Purchase Price. Anything contained in this Section 10 to the contrary notwithstanding, in the event that (i) the purchasing ABL Claimholders receive all or a portion of any prepayment premium, make-whole obligation or early termination fee payable pursuant to the Term Documents in cash, (ii) all Term Debt purchased by such purchasing ABL Claimholders including principal, interest and fees thereon and costs and expenses of collection thereof (including reasonable attorneys’ fees and legal expenses), is repaid in full in cash, and (iii) the Term Credit Facility Agreement is terminated, in each case, within 180 days following the date on which the purchasing ABL Claimholders pay the purchase price described above in Section 10.3, then, within three Business Days after receipt by such applicable ABL Claimholders of such amounts, the purchasing ABL Claimholders shall pay a supplemental purchase price to the Term Agent, for the benefit of the Term Claimholders, in respect of their purchase under this Section 10 in an amount equal to the portion of the prepayment

- 65 - premium, make-whole obligation or early termination fee received by the purchasing ABL Claimholders to which the Term Claimholders would have been entitled to receive had the purchase under this Section 10 not occurred. 10.5 Resignation. In the event that any one or more of the ABL Claimholders exercises and consummates the purchase option set forth in this Section 10, (i) Term Agent shall have the right, but not the obligation, to immediately resign under the Term Credit Facility Agreement, and (ii) the purchasing ABL Claimholders shall have the right, but not the obligation, to require Term Agent to immediately resign under the Term Credit Facility Agreement. [Signature Pages Follow]

S-66 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective authorized officers as of the day and year first written above. CITIBANK, N.A., as Initial ABL Agent By: /s/ Allister Chan Name: Allister Chan Title: Vice President WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity but solely as Initial Term Representative and Initial Term Agent By: /s/ Jane Y. Schweiger Name: Jane Y. Schweiger Title: Vice President

ACKNOWLEDGMENT Holdings and each of Holdings’ undersigned Subsidiaries hereby acknowledges that it has received a copy of the foregoing Intercreditor Agreement (as in effect on the date hereof, the “Intercreditor Agreement”) and agrees to recognize all rights granted by the Intercreditor Agreement to the ABL Claimholders and the Term Claimholders, waive, to the extent permitted by law, the provisions of Section 9-615(a) of the UCC in connection with the application of payments and proceeds of Collateral in accordance with the provisions of the Intercreditor Agreement, and not do any act or perform any obligation which is not in accordance with the agreements set forth in the Intercreditor Agreement. Except as provided in Sections 8.3 and 8.13 of the Intercreditor Agreement, Holdings and each of Holdings’ undersigned Subsidiaries further acknowledge and agree that they are not an intended beneficiary or third party beneficiary under the Intercreditor Agreement, as amended, restated, supplemented or otherwise modified hereafter. [Signature Pages Follow]

Warrior Met Coal, Inc. Warrior Met Coal Intermediate Holdco, LLC Warrior Met Coal Gas, LLC Warrior Met Coal Mining, LLC Warrior Met Coal TRI, LLC Warrior Met Coal BC, LLC Warrior Met Coal Land, LLC Warrior Met Coal WV, LLC Warrior Met Coal LA, LLC WMC Blue Creek Holdco, Inc. By: /s/ Dale W. Boyles Name: Dale W. Boyles Title: Chief Financial Officer

- 2 - EXHIBIT A TO THE INTERCREDITOR AGREEMENT [Form of] ADDITIONAL JOINDER AGREEMENT [Name of Additional Term Agent/Representative] [Address of Additional Term Agent/Representative] [Date] [Names of the ABL Agent and Term Agent] [Addresses of the ABL Agent and Term Agent] The undersigned, together with its successors and assigns (the “New Secured Agent”) under [identify Additional Term Debt Agreement] (the “New Secured Agreement”), is the [Additional Term Agent]/[Additional Term Representative] for Persons (the “New Secured Claimholders”) wishing to become Term Claimholders under and as defined in the Intercreditor Agreement, dated as of December 6, 2021 (as amended, restated, supplemented and/or otherwise modified from time to time, the “Intercreditor Agreement” (terms used without definition herein have the meanings assigned to such terms by the Intercreditor Agreement)), among the ABL Agent thereunder and each Term Agent thereunder. In consideration of the foregoing, the undersigned hereby: (i) represents that the New Secured Claimholders have authorized the New Secured Agent to become a party to the Intercreditor Agreement on behalf of such New Secured Claimholders and to act as the [Additional Term Agent]/[Additional Term Representative] on behalf of such New Secured Claimholders thereunder; (ii) acknowledges that the New Secured Agent has received a copy of the Intercreditor Agreement; (iii) acknowledges on behalf of itself and the other New Secured Claimholders that the obligations under the New Secured Agreement constitute Term Debt for all purposes of the Intercreditor Agreement; and (iv) accepts and acknowledges, on behalf of itself and the New Secured Claimholders, the terms of the Intercreditor Agreement applicable to the [Additional Term Agent]/[Additional Term Representative] and the other Term Claimholders and agrees on its own behalf and on behalf of the New Secured Claimholders to be bound by the terms thereof applicable to holders of Term Debt, with all the rights, duties and obligations of the Term Claimholders under the Intercreditor Agreement and to be bound by all the provisions thereof as fully as if they had been named as Term Claimholders on the effective date of the Intercreditor Agreement and agrees that the New Secured Agent’s address for receiving notices pursuant to the Intercreditor Agreement shall be as follows: [Address]

- 3 - THIS ADDITIONAL JOINDER AGREEMENT SHALL BE DEEMED TO BE A CONTRACT UNDER THE LAWS OF THE STATE OF NEW YORK AND SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ITS CONFLICT OF LAWS PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF ANY OTHER LAW. [_____] is entering into the Intercreditor Agreement pursuant to this joinder agreement in its capacity as [identify capacity] under the [identify Additional Term Debt Agreement] and the rights, powers, privileges and protections afforded to the [identify capacity] under the [identify Additional Term Debt Agreement] shall also apply to [_____] as an [Additional Term Agent]/[Additional Term Representative] under the Intercreditor Agreement. [Signature Pages Follow]

- 4 - IN WITNESS WHEREOF, the undersigned has caused this Additional Joinder Agreement to be duly executed by its authorized officer as of the date first written above. [NAME OF NEW SECURED AGENT] By: _____________________________________ Name: Title:

- 5 - Holdings hereby represents and warrants to each Agent on the date hereof that the indebtedness or other obligations evidenced by the New Secured Agreement meets the requirements set forth in the definition of, and is hereby designated as, Additional Term Debt under the Intercreditor Agreement. WARRIOR MET COAL, INC., as Holdings By: ____________________________ Name: Title:

EXHIBIT B TO THE INTERCREDITOR AGREEMENT [Form of] GRANTOR JOINDER AGREEMENT [DATE] The undersigned hereby agrees to be bound as a Grantor for purposes of the Intercreditor Agreement, dated as of December 6, 2021 (as amended, restated, supplemented and/or otherwise modified on or prior to the date hereof, the “Intercreditor Agreement”), among Citibank, N.A., as the Initial ABL Agent, Wilmington Trust, National Association, in its capacities as the Initial Term Agent and Initial Term Representative, and each Additional Term Agent and Additional Term Representative, and the undersigned hereby acknowledges receipt of a copy of the Intercreditor Agreement. In addition, the undersigned hereby agrees to recognize all rights granted by the Intercreditor Agreement to the ABL Claimholders and the Term Claimholders, waive, to the extent permitted by law, the provisions of Section 9-615(a) of the UCC in connection with the application of payments and proceeds of Collateral in accordance with the provisions of the Intercreditor Agreement, agree that it will not do any act or perform any obligation which is not in accordance with the agreements set forth in the Intercreditor Agreement. Except as provided in Sections 8.3 and 8.13 of the Intercreditor Agreement, the undersigned further acknowledges and agrees that it is not an intended beneficiary or third party beneficiary under the Intercreditor Agreement, as amended, restated, supplemented or otherwise modified hereafter. Capitalized terms used but not defined herein shall have the meanings set forth in the Intercreditor Agreement.

IN WITNESS HEREOF, the undersigned has caused this Grantor Joinder Agreement to be duly executed and delivered as of the date first written above. [NAME OF NEW GRANTOR] By: _____________________________________ Name: Title:

SCHEDULE 1 NOTICES If to the Initial Term Agent or Initial Term Representative: Wilmington Trust, National Association Global Capital Markets 50 South Sixth Street, Suite 1290 Minneapolis, MN 55402 Attention: Warrior Met Coal, Inc. Administrator Fax: 612-217-5651 With a copy (which shall not constitute notice) to: Seward & Kissel LLP One Battery Park New York, NY 10004 Attention: Gregg Bateman Email: bateman@sewkis.com If to the Initial ABL Agent: Citibank, N.A. 390 Greenwich St. 1st Floor New York, NY 10013 Attn: Shane Azzara Tel: (212) 723-3748 Fax: (646) 291-3359 E-mail: shane.azzara@citi.com With a copy (which shall not constitute notice) to: Weil, Gotshal & Manges LLP 767 Fifth Avenue New York, NY 10153 Attention: Justin D. Lee Email: Justin.d.lee@weil.com

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary February 21, 2022 Prepared for: Warrior Met Coal, Inc. 16243 Highway 216 Brookwood, Alabama 35444 Prepared by: MARSHALL MILLER & ASSOCIATES, INC. 582 Industrial Park Road Bluefield, Virginia 24605 www.mma1.com

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 1 Statement of Use and Preparation This Technical Report Summary (TRS) was prepared for the sole use of Warrior Met Coal, Inc. (Warrior Met) and its affiliated and subsidiary companies and advisors. Copies or references to information in this report may not be used without the written permission of Warrior. The report provides a statement of coal resources and coal reserves for Warrior Met, as defined under the United States Securities and Exchange Commission (SEC). The statement is based on information provided by Warrior Met and reviewed by various professionals within Marshall Miller & Associates, Inc. (MM&A). MM&A professionals who contributed to the drafting of this report meet the definition of Qualified Persons (QPs), consistent with the requirements of the SEC. The information in this TRS related to coal resources and reserves is based on, and fairly represents, information compiled by the QPs. At the time of reporting, MM&A’s QPs have sufficient experience relevant to the style of mineralization and type of deposit under consideration and to the activity they are undertaking to qualify as a QP as defined by the SEC. Certain information set forth in this report contains “forward-looking information”, including production, productivity, operating costs, capital costs, sales prices, and other assumptions. These statements are not guarantees of future performance and undue reliance should not be placed on them. The assumptions used to develop the forward-looking information and the risks that could cause the actual results to differ materially are detailed in the body of this report. MM&A hereby consents (i) to the use of the information contained in this report dated December 31, 2021, relating to estimates of coal resources and coal reserves controlled by Warrior Met ,(ii) to the use of MM&A’s name, any quotation from or summarization of this TRS in Warrior Met’s SEC filings, and (iii) to the filing of this TRS as an exhibit to Warrior Met’s SEC filings. This report was prepared by: MARSHALL MILLER & ASSOCIATES, INC.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 2 Table of Contents Title Page Statement of Use and Preparation Table of Contents 1 Executive Summary .....................................................................................................................8 1.1 Property Description ......................................................................................................8 1.2 Ownership ......................................................................................................................9 1.3 Geology ........................................................................................................................10 1.4 Exploration Status ........................................................................................................11 1.5 Operations and Development.......................................................................................11 1.6 Mineral Resource .........................................................................................................12 1.7 Mineral Reserve ...........................................................................................................12 1.8 Capital Summary ..........................................................................................................13 1.9 Operating Costs ............................................................................................................14 1.10 Economic Evaluation ....................................................................................................15 1.10.1 Cash Flow Analysis ..........................................................................................17 1.10.2 Sensitivity Analysis ..........................................................................................18 1.11 Permitting ....................................................................................................................18 1.12 Conclusion and Recommendations ...............................................................................18 2 Introduction ..............................................................................................................................19 2.1 Registrant, Terms of Reference, and Scope of Work .....................................................19 2.2 Information Sources .....................................................................................................19 2.3 Personal Inspections.....................................................................................................20 3 Property Description .................................................................................................................20 3.1 Location .......................................................................................................................20 3.2 Titles, Claims or Leases .................................................................................................21 3.3 Mineral Rights ..............................................................................................................21 3.4 Encumbrances ..............................................................................................................22 3.5 Other Risks ...................................................................................................................22 4 Accessibility, Climate, Local Resources, Infrastructure and Physiography ................................22 4.1 Topography, Elevation, and Vegetation ........................................................................22 4.2 Access and Transport ...................................................................................................23 4.3 Proximity to Population Centers ...................................................................................23 4.4 Climate and Length of Operating Season ......................................................................24 4.5 Infrastructure ...............................................................................................................24

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 3 5 History .......................................................................................................................................25 5.1 Previous Operation.......................................................................................................25 5.2 Previous Exploration.....................................................................................................25 6 Geological Setting, Mineralization and Deposit ........................................................................26 6.1 Regional, Local and Property Geology ..........................................................................26 6.2 Mineralization ..............................................................................................................28 6.3 Deposits .......................................................................................................................28 7 Exploration ................................................................................................................................30 7.1 Nature and Extent of Exploration .................................................................................30 7.1.1 Summary of Exploration Data .........................................................................30 7.2 Non-Drilling Procedures and Parameters ......................................................................33 7.3 Drilling Procedures .......................................................................................................33 7.4 Hydrogeology ...............................................................................................................33 7.4.1 Introduction....................................................................................................33 7.4.2 Summary of Hydrogeologic Findings ...............................................................34 7.5 Geotechnical Data ........................................................................................................35 8 Sample Preparation Analyses and Security ...............................................................................35 8.1 Prior to Sending to the Lab ...........................................................................................35 8.2 Lab Procedures .............................................................................................................36 9 Data Verification .......................................................................................................................36 9.1 Procedures of Qualified Person ....................................................................................36 9.2 Limitations ...................................................................................................................38 9.3 Opinion of Qualified Person .........................................................................................38 10 Mineral Processing and Metallurgical Testing ...........................................................................38 10.1 Testing Procedures .......................................................................................................38 10.1.1 M-Series Holes ................................................................................................38 10.1.2 NR5-Series Holes ............................................................................................39 10.1.3 S-Series Holes .................................................................................................39 10.2 Warrior Met’s Current Exploration Procedures.............................................................40 10.3 Quality Assessment ......................................................................................................40 10.4 Derivation of Product Yield ...........................................................................................41 10.5 Relationship of Tests to the Whole ...............................................................................43 10.6 Lab Information ............................................................................................................44 10.7 Relevant Results, Metallurgical Quality ........................................................................44 11 Mineral Resource Estimates ......................................................................................................45 11.1 Assumptions, Parameters and Methodology ................................................................45

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 4 11.1.1 Statistical Analysis for Classification ................................................................47 11.2 Qualified Person’s Estimates ........................................................................................48 11.3 Qualified Person’s Opinion ...........................................................................................49 12 Mineral Reserve Estimates ........................................................................................................49 12.1 Assumptions, Parameters and Methodology ................................................................49 12.2 Qualified Person’s Estimates ........................................................................................51 12.3 Qualified Person’s Opinion ...........................................................................................52 13 Mining Methods and Mine Plan Design ....................................................................................52 13.1 Geotechnical and Hydrologic Aspects of Mine Design ..................................................52 13.1.1 Horizontal Stress .............................................................................................52 13.1.2 Pillar Design ....................................................................................................52 13.1.3 Hydrogeology .................................................................................................53 13.2 Production Rates ..........................................................................................................53 13.3 Mining Related Requirements ......................................................................................53 13.4 Required Equipment and Personnel .............................................................................54 14 Processing and Recovery Methods ............................................................................................54 14.1 Description or Flowsheet ..............................................................................................54 15 Infrastructure ............................................................................................................................55 15.1 Mine Ventilation ..........................................................................................................55 15.2 Methane ......................................................................................................................55 15.3 Materials Handling .......................................................................................................56 15.4 Seam Access .................................................................................................................56 15.5 Surface Infrastructure ..................................................................................................56 15.5.1 Preparation Plant & Materials Handling Infrastructure ...................................56 15.5.2 Clean Coal Transportation...............................................................................57 15.5.3 Water Supply ..................................................................................................57 15.5.3.1 Potable Water ........................................................................................57 15.5.4 Power .............................................................................................................57 16 Market Studies ..........................................................................................................................58 16.1 Market Description.......................................................................................................58 16.2 Price Forecasts .............................................................................................................58 16.3 Contract Requirements ................................................................................................59 17 Environmental Studies, Permitting and Plans, and Social and Community Impacts .................59 17.1 Results of Studies .........................................................................................................59 17.2 Requirements and Plans for Waste Disposal .................................................................59 17.2.1 Disposal Methods and Design Concepts ..........................................................59

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 5 17.2.2 Life-of-Mine Storage Requirements ................................................................60 17.2.3 Storage Areas .................................................................................................60 17.2.4 Control of Proposed Storage Areas .................................................................60 17.2.5 Refuse Permitting ...........................................................................................61 17.3 Permit Requirements and Status ..................................................................................61 17.4 Local Plans, Negotiations or Agreements ......................................................................62 17.5 Mine Closure Plans .......................................................................................................63 17.6 Qualified Person’s Opinion ...........................................................................................63 18 Capital and Operating Costs ......................................................................................................63 18.1 Capital ..........................................................................................................................63 18.2 Operating Cost .............................................................................................................64 19 Economic Analysis .....................................................................................................................66 19.1 Assumptions, Parameters and Methods .......................................................................66 19.2 Results .........................................................................................................................67 19.3 Sensitivity .....................................................................................................................69 19.4 Economic Analysis Summary ........................................................................................70 20 Adjacent Properties...................................................................................................................70 20.1 Information used ..........................................................................................................70 21 Other Relevant Data and Information .......................................................................................70 22 Interpretation and Conclusions .................................................................................................71 22.1 Conclusion ....................................................................................................................71 22.2 Project Risk Assessment ...............................................................................................71 22.2.1 Assumptions and Limitations ..........................................................................72 22.2.2 Methodology ..................................................................................................72 22.2.3 Development of the Risk Matrix .....................................................................73 22.2.3.1 Quantification of Risk Likelihood and Severity of Impact ........................73 22.2.4 Categorization of Risk Levels and Color Code Convention ...............................75 22.2.5 Summary of Residual Risk Ratings ...................................................................75 22.2.6 Risk Factors .....................................................................................................76 22.2.6.1 Geological and Coal Resource.................................................................76 22.2.6.1 Environmental ........................................................................................77 22.2.6.2 Regulatory Requirements .......................................................................78 22.2.6.3 Market and Transportation ....................................................................78 22.2.6.4 Mining Plan ............................................................................................79 22.2.6.4.1 Methane Management .............................................................. 79 22.2.6.4.2 Mine Fires .................................................................................. 80

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 6 22.2.6.4.3 Availability of Supplies and Equipment ....................................... 81 22.2.6.4.4 Labor ......................................................................................... 81 22.2.6.4.5 Project Execution ....................................................................... 82 23 Recommendations ....................................................................................................................84 24 References.................................................................................................................................84 25 Reliance on Information Provided by Registrant ......................................................................84 FIGURES (IN REPORT) Figure 1-1: Blue Creek Project Location Map ........................................................................................ 9 Figure 1-2: Generalized Stratigraphic Column of Warrior Basin Sequence with Mary Lee Coal Zone Highlighted in red (after Pashin, 2005) ............................................................................ 10 Figure 1-3: Initial Investment Capital ($000) ....................................................................................... 14 Figure 1-4: OPEX ............................................................................................................................... 15 Figure 1-5: Blue Creek Production and Revenue ................................................................................ 16 Figure 1-6: After-tax Cash Flow Summary (000) ................................................................................. 17 Figure 1-7: Sensitivity of NPV ............................................................................................................ 18 Figure 6-1: Geologic Column of the Mary Lee – Blue Creek Sequence ................................................ 27 Figure 6-2: Generalized Geologic Profile Indicating Dominant Overburden Lithologies...................... 30 Figure 7-1: Drill Hole Location Map ................................................................................................... 32 Figure 15-1: Approximate Location of Plant and Various Infrastructure ............................................ 56 Figure 18-1: Initial Investment Capital ($000) ..................................................................................... 64 Figure 18-2: OPEX.............................................................................................................................. 65 Figure 19-1: Blue Creek Production and Revenue .............................................................................. 68 Figure 19-2: After-tax Cash Flow Summary (000) ............................................................................... 69 Figure 19-3: Sensitivity of NPV .......................................................................................................... 70 TABLES (IN REPORT) Table 1-1: Coal Resources Summary as of December 31, 2021 .......................................................... 12 Table 1-2: Coal Reserves Summary, Specific to Eastern Mining Areas A through D, (Marketable Sales Basis) as of December 31, 2021 ....................................................................................... 13 Table 1-3: Life-of-Mine Tonnage, P&L before Tax, and EBITDA .......................................................... 16 Table 10-1: Yield, Clean Ash and Sulfur (1.5 SG), Eastern Mining Areas A Through D .......................... 41 Table 10-2: Washability for the Mary Lee, Blue Creek, and Combined Seam (Excluding Middleman), Dry Basis, Eastern Mining Areas A Through D .................................................................. 42 Table 10-3: Washability for the Mary Lee, Blue Creek, and Combined Seam (Excluding Middleman), Dry Basis, After Yield and Ash Adjustment; Eastern Mining Areas A Through D................ 43 Table 10-4: Metallurgical Characteristics ............................................................................................ 45 Table 11-1: General Reserve and Resource Criteria ........................................................................... 46 Table 11-2: Statistical Breakdown ..................................................................................................... 48 Table 11-3: Coal Resources Summary as of December 31, 2021 ........................................................ 49

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 7 Table 12-1: Coal Reserves Summary, Specific to Eastern Mining Areas A through D, (Marketable Sales Basis) as of December 31, 2021 ....................................................................................... 51 Table 16-1: Adjusted Pricing .............................................................................................................. 58 Table 17-1: Currently Active Permits ................................................................................................. 62 Table 18-1: Estimated Coal Production Taxes and Sales Costs ........................................................... 65 Table 19-1: Life-of-Mine Tonnage, P&L before Tax, and EBITDA ........................................................ 67 Table 22-1: Probability Levels of Risks and Corresponding Values ..................................................... 73 Table 22-2: Consequence Level Table ................................................................................................. 74 Table 22-3: Risk Matrix ...................................................................................................................... 75 Table 22-4: Residual Risk Assessment Matrix .................................................................................... 76 Table 22-5: Geological and Coal Resource Risk Assessment (Risks 1 and 2) ....................................... 77 Table 22-6: Environmental (Risks 3 and 4) ......................................................................................... 78 Table 22-7: Regulatory Requirements (Risk 5) ................................................................................... 78 Table 22-8: Market (Risk 6) ............................................................................................................... 79 Table 22-9: Transportation (Risk 7).................................................................................................... 79 Table 22-10: Methane Management (Risk 8) ..................................................................................... 80 Table 22-11: Mine Fires (Risk 9)......................................................................................................... 80 Table 22-12: Availability of Supplies and Equipment (Risk 10) ........................................................... 81 Table 22-13: Labor – Work Stoppage (Risk 11) .................................................................................. 81 Table 22-14: Labor – Retirement (Risk 12) ......................................................................................... 82 Table 22-15: Construction Delays and Cost Overruns (Risk 13) .......................................................... 82 Table 22-16: Permitting Delays (Risk 14) ........................................................................................... 83 Table 22-17: Select, Isolated Parcels of Uncontrolled Mineral (non-BLM lease) within Mine Plan (Risk 15) ................................................................................................................................... 83 Table 22-18: Select, Isolated Parcels of Uncontrolled Mineral (BLM lease) within Mine Plan (Risk 16) ........................................................................................................................................ 83 Table 25-1: Information from Registrant Relied Upon by MM&A ...................................................... 85 Appendices A ...................................................................................................................................... Reserve Table B ................................................................................. Market Memorandum Provided by Warrior Met

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 8 1 Executive Summary 1.1 Property Description Warrior Met Coal, Inc. (Warrior Met) authorized Marshall Miller & Associates, Inc. (MM&A) to prepare this Technical Report Summary (TRS) of its controlled coal reserves, located at its Blue Creek (BC) property in northern Tuscaloosa County, Alabama (the Property). The report provides a statement of coal resources and coal reserves for Warrior Met, as defined under the United States Securities and Exchange Commission (SEC) standards. Coal resources and coal reserves are herein reported in metric units of measurement and are rounded to millions of tonnes (Mt). The property is located in northwestern Alabama, approximately 27 miles north of the city of Tuscaloosa and 36 miles west of the city of Birmingham in the southern region of the US. Highway 69 North bisects the property controlled by Warrior Met. Figure 1-1 displays the property’s location. Warrior Met currently controls approximately 17,000 total acres of mining rights associated with the Project (the Property), approximately 88 percent of which are leased from various entities and individuals. Based upon the current layout of the mine, the acquisition of additional leases will be required in the eastern and western portions of the Property, including leases from private entities and individuals, as well as a significant number of federally-owned tracts from the Bureau of Land Management (BLM). To mitigate risk associated with the BLM tracts, MM&A has assisted Warrior in developing a mine plan for the property which excludes the BLM tracts. This effort is being completed under separate cover and is not presented in the TRS, but it is important to note that financial modeling associated with this alternative mine plan showed favorable economics absent the BLM tracts, albeit at a reduced tonnage.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 9 Figure 1-1: Blue Creek Project Location Map 1.2 Ownership The Property was formerly controlled by Jim Walter Resources (Walter), the predecessor company of Warrior Met. Walter acquired the majority of its mineral rights for the Blue Creek property in 2010 through its purchase of the Chevron Mining, Inc. (Chevron)-owned coal assets located in Alabama. Warrior Met acquired mineral rights and mining operations from Walter in 2016, including two active operating longwall mines (Mine No. 4 and Mine No. 7), located south and southeast of the Project. Reserves and resources associated with these adjacent properties are not included in this report but are issued under separate cover. Figure 1-1 outlines the location of the Property in relation to Warrior’s adjacent properties.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 10 1.3 Geology Operations at the Blue Creek Mine Complex will extract the Mary Lee and Blue Creek coal beds by longwall mining methods. Strata of economic interest for this TRS belong to the Pennsylvanian-age Mary Lee Coal Group or Zone and the subject seams are the principal coal seams of interest within that formation for the present evaluation. Due to the high value of this coal, it has been extensively mined in the region. The Blue Creek Project is among the first in the region to target the higher volatile portion of the basin, with existing and former operations in the basin generally targeting the low and mid volatile coal zones. The seam is situated below drainage throughout the Property and will be accessed by mine shafts and/or slopes. Figure 1-2: Generalized Stratigraphic Column of Warrior Basin Sequence with Mary Lee Coal Zone Highlighted in red (after Pashin, 2005)

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 11 Warrior Met expects that market placement at BC will largely be based upon the Premium Low-Volatile Indices (PLV). Although the mine’s production will likely be associated with high-volatile parameters, it is anticipated that market placement will be comparable to Warrior’s active operations, which generally price according to the PLV. 1.4 Exploration Status Since as early as 1957, the Property has been extensively explored by means of: continuous coring and analytic testing, rotary drilling, ongoing drilling associated with coalbed methane (CBM) production, and by downhole geophysical logging methods. The majority of the data was acquired or generated by previous owners of the Property. These sources comprise the primary data used in the evaluation of the coal resources and coal reserves identified on the Property. MM&A examined the data available for the evaluation and incorporated all pertinent information into this TRS. Where data appeared to be anomalous or not representative, that data was excluded (or not honored) from the digital databases and subsequent processing by MM&A. Ongoing exploration has been carried out by Warrior Met since acquiring the Property, and Warrior Met’s recently acquired exploration data (through December 2021) has been consistent with past drilling activities. 1.5 Operations and Development Due to its coal reserve and seam characteristics, the Project will utilize longwall mining methods. The mine plan presented in this TRS utilizes a single longwall supported by continuous mining units. Warrior is considering an alternative mine plan which would increase tonnage via production from two longwall units. The mine will produce a coal that is suitable for export into the high volatile-A metallurgical coal markets. Run-of-mine coal will be transported to the surface via a slope. A service shaft and hoist will serve as the primary means of transportation of miners, supplies, and equipment to the coal mine. An additional fan (exhaust) shaft will be required for mine ventilation, and a third shaft (primary intake) will be required to support longwall production. Bleeder shafts will be installed in each longwall district. Run-of-mine coal will be processed in a new preparation plant with a capacity of 1,800 raw-tons-per- hour (1,633 raw tonnes-per-hour). Final plant design and equipment selection is still underway. MM&A’s assessment of coal quality information suggests that the operation will be capable of producing a 10-percent ash, sub-1-percent sulfur, high volatile-A coking coal. Clean coal production will be transported to a newly constructed barge loadout on the Black Warrior River via an overland conveyor. The development schedule set forth in this TRS allows for initial continuous miner development to start in year 2025, with longwall mining commencing in year 2027. At steady state, the mine will produce between 3 and 4 million tonnes (Mt) of coal annually and employ approximately 375 employees.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 12 1.6 Mineral Resource A coal resource estimate was prepared as of December 31, 2021, for the Blue Creek Project, summarized in Table 1-1. Resources presented in Table 1-1 include both resources inclusive of reserve and resources exclusive of reserve. Resources inclusive of reserve serve (See Areas A, B, C and D on detailed appendix tables) serve as the basis for the life-of-mine plan and cost model developed at the pre-feasibility level to support reserves which are stated in this report. Resources exclusive of reserve represent those coal tonnes on the western portion of the property which are not yet considered for reserve status (See “Area E” on detailed table in the Appendix). It is Warrior Met’s intention to elevate tonnage within Area E to be compliant with the 2021 SEC Standards in the future via an ongoing exploration drilling campaign. Resources represent in-place coal tonnages exclusive of the interburden, but inclusive of any high-ash partings within the Mary Lee and Blue Creek coal seams. As such, in-situ tonnages and quality as presented in Table 1-1 reflect the inclusion of high-ash partings which is ultimately removed after mining during coal preparation. Table 1-1: Coal Resources Summary as of December 31, 2021 Coal Resource (Dry Tonnes, In Situ, Mt) Resource Quality (Dry) Seam Measured Indicated Inferred Total Ash% Sulfur% VM% Inclusive of Reserves (East Area) Mary Lee 18.8 10.5 0.0 29.3 - - - Blue Creek 49.7 23.3 0.0 73.0 - - - Total 68.5 33.8 0.0 102.3 13.7 0.8 30 Exclusive of Reserves (West Area) Mary Lee 0.0 15.3 0.0 15.3 - - - Blue Creek 0.0 29.5 0.0 29.5 - - - Total 0.0 44.9 0.0 44.9 19.3 1.6 31 Grand Total 68.5 78.7 0.0 147.2 - - - Note 1: For the East area, Resource tonnes are inclusive of reserve tonnes since they include the in-situ tonnes from which recoverable coal reserves are derived. Note 2: For the West area, Resource tonnes are exclusive of reserve tonnes since they include the in-situ tonnes for which no recoverable reserve tonnes have been estimated. Note 3: Coal resources are reported on a dry basis, inclusive of high-ash partings which are ultimately removed during coal preparation. Surface moisture and inherent moisture are excluded. Note 4: Coal resource quality reported on a raw, weight-averaged basis 1.7 Mineral Reserve In eastern areas A through D, the resource estimate has been used as the basis for this reserve calculation, which utilizes a reasonable pre-feasibility level analysis, a life-of-mine (LOM) mine plan and practical recovery factors. Production modeling was completed with an effective start date of July 1, 2025. Factors that would typically preclude conversion of a coal resource to coal reserve, include the following: inferred resource classification; absence of coal quality; poor mine recovery; lack of access; geological encumbrances associated with overlying and underlying strata; seam thinning; structural complications; and insufficient exploration have all been considered. Reserve consideration excludes

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 13 those portions of the resource area which exhibit the aforementioned-geological and operational encumbrances. Proven and probable coal reserves were derived from the defined in-situ coal resource considering relevant processing, economic (including technical estimates of capital, revenue and cost), marketing, legal, environmental, socioeconomic, and regulatory factors. The proven and probable coal reserves on the Property are summarized below in Table 1-2. Table 1-2: Coal Reserves Summary, Specific to Eastern Mining Areas A through D, (Marketable Sales Basis) as of December 31, 2021 Demonstrated Coal Reserves (Wet Tonnes, Washed or Direct Shipped, Mt) Quality (Dry Basis) By Reliability Category By Control Type Seam Proven Probable Total Owned Leased Option Ash% Sulfur% VM% Mary Lee 11.1 6.7 17.8 3.0 12.4 2.3 12.8 0.9 31 Blue Creek 30.4 15.1 45.5 7.7 32.8 5.0 8.4 0.6 32 Total 41.5 21.8 63.3 10.7 45.3 7.3 10.2 0.7 32 Note: Marketable reserve tonnes are reported on a moist basis, including a combination of surface and inherent moisture. The combination of surface and inherent moisture is modeled at 10-percent, comparable to Warrior Met’s current product moisture at its operating mines. Actual product moisture is dependent upon multiple geological factors, operational factors, and product contract specifications. In summary, the Project includes a total of 63.3 Mt (moist basis) of marketable coal reserves as of December 31, 2021. Of that total, 66 percent are proven, and 34 percent are probable. There are 10.7 Mt of owned coal reserves, 45.3 Mt of leased coal reserves and 7.3 Mt of reserve associated with lease options. All the reserves are considered suitable for the metallurgical coal market. 1.8 Capital Summary Warrior Met and MM&A have collaborated to develop a capital expenditure (CAPEX) forecast. MM&A assumes that major equipment rebuilds occur over the course of each machine’s operating life. All the equipment presented for use in the Project is standard well-proven equipment, used in numerous mines throughout the United States. No prototypes or experimental pieces of equipment are included. The initial investment, defined as the CAPEX from project inception through the first year of longwall production is summarized in Figure 1-3.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 14 Figure 1-3: Initial Investment Capital ($000) Note: Capital figures are based upon MM&A’s best estimates and are supported by a combination of MM&A’s experience in comparable projects & comparable quotations. Such level is sufficient to meet the criteria of a pre-feasibility level financial assessment. Beyond the Initial Investment of $623.7 million, CAPEX is necessary for sustaining production. This includes rebuilds and replacement of equipment, mine development and multiple bleeder, intake and return shafts. Based on a previous detailed study of a mine in the basin and a review of Warrior Met’s spending patterns, sustaining capital has been estimated at $9.50 per tonne. No efficiency or production increase projects have been included as they will be analyzed on a stand-alone basis when evaluated. To reflect typical spending patterns, based on production winding down, sustaining capital is reduced to 75% in 2051 and eliminated in 2052, the final year of production. 1.9 Operating Costs MM&A used a combination of historical information and detailed operating cost estimates from a recent study of a property in the region. Where necessary, operating costs were adjusted to reflect differences between this mine and the studied mine. Hourly labor rates and salaries were based upon regional information and expectations. Fringe-benefit costs were developed for vacation and holidays, federal and state unemployment insurance, retirement, workers’ compensation and pneumoconiosis, casualty and life insurance, healthcare, and bonuses. A cost factor for mine supplies was developed that relates expenditures to mine advance rates for roof-control costs. Other mine-supply costs are typically related to factors such as feet of section advance, ROM tonnes mined, and days worked. Other factors were developed for maintenance and repair costs, rentals, mine power, outside services and other direct mining costs.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 15 Operating costs factors were also developed for the coal preparation plant processing, refuse handling, coal loading, property taxes, and insurance and bonding. Appropriate royalty rates were assigned for production from leased coal lands, and sales related taxes were calculated for state severance taxes, the federal black lung excise tax, and federal and state reclamation fees. A summary of the operating costs for the Property is provided in Figure 1-4. Figure 1-4: OPEX *The LOM model and associated economic analysis is intended to prove the economic viability of the subject coal tonnage, allowing controlled tons to be classified as “reserve”. The development of costs incorporates a combination of Warrior Met’s historical performance and MM&A’s knowledge of mine productivity and cost structures for comparable operations. 1.10 Economic Evaluation The pre-feasibility financial model prepared for this TRS was developed to test the economic viability of the coal resource area. The results of this financial model are not intended to represent a bankable feasibility study, required for financing of any current or future mining operations contemplated for the Warrior Met property, but are intended to establish the economic viability of the estimated coal reserves. Cash flows are simulated on an annual basis based on projected production from the coal reserves. The discounted cash flow analysis presented herein is based on an effective date of January 1, 2022. On an un-levered basis, the NPV of the real cash flow after taxes represents the Enterprise Value of the Property. The cash flow, excluding debt service, is calculated by subtracting direct and indirect operating expenses and capital expenditures from revenue. Direct costs include labor, operating supplies, maintenance and repairs, facilities costs for materials handling, coal preparation, refuse

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 16 disposal, coal loading, reclamation, and general and administrative costs. Indirect costs include statutory and legally agreed upon fees related to direct extraction of the mineral. The indirect costs are the Federal black lung tax, Federal and State reclamation taxes, property taxes, coal production royalties, and income taxes. Table 1-3 shows LOM tonnage, P&L, and EBITDA for Blue Creek. Table 1-3: Life-of-Mine Tonnage, P&L before Tax, and EBITDA Tonnes (000) Pre-Tax P&L ($000) P&L per Tonne EBITDA ($000) EBITDA per Tonne Blue Creek 94,969 $8,527,427 $89.79 $9,962,324 $104.90 Note 1: The LOM model includes tonnages contained within adverse tracts which are not included in reserve estimates. Note 2: The LOM model does not consider resources exclusive of reserves on the western portion of the property. Note 3: The LOM model and associated economic analysis is intended to prove the economic viability of the subject coal tonnage, allowing controlled tons to be classified as “reserve”. The exercise should not be construed to represent a valuation of Warrior Met’s holdings. Long term cash flows incorporate forward looking market projections which are expected to vary over time based upon historic volatility of coal markets. The development of costs incorporates a combination of Warrior Met’s historical performance and MM&A’s knowledge of mine productivity and cost structures for comparable operations. As shown in Table 1-3, Blue Creek has positive EBITDA over the LOM. Overall, the operation shows positive LOM P&L and EBITDA of $8.5 billion and $10.0 billion, respectively. Warrior Met’s Blue Creek annual production and revenue are shown in Figure 1-5 and the Mine’s after- tax cash flow summary in constant dollars, excluding debt service, is shown in Figure 1-6 below. Figure 1-5: Blue Creek Production and Revenue Note 1: The LOM model includes a portion of tonnage contained within adverse tracts which are not included in reserve estimates. Note 2: The LOM model and associated economic analysis is intended to prove the economic viability of the subject coal tonnage, allowing controlled tons to be classified as “reserve”. The exercise should not be construed to represent a valuation of Warrior Met’s holdings. Long term cash flows incorporate forward looking market projections which are expected to vary over time based upon historic volatility of coal markets. The development of costs incorporates a combination of Warrior Met’s historical performance and MM&A’s knowledge of mine productivity and cost structures for comparable operations.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 17 Figure 1-6: After-tax Cash Flow Summary (000) Note 1: The LOM model includes a portion of tonnage contained within adverse tracts which are not included in reserve estimates. Note 2: The LOM model and associated economic analysis is intended to prove the economic viability of the subject coal tonnage, allowing controlled tons to be classified as “reserve”. The exercise should not be construed to represent a valuation of Warrior Met’s holdings. Long term cash flows incorporate forward looking market projections which are expected to vary over time based upon historic volatility of coal markets. The development of costs incorporates a combination of Warrior Met’s historical performance and MM&A’s knowledge of mine productivity and cost structures for comparable operations. Consolidated cash flows are driven by annual sales tonnage, which starts at 3.2 million tonnes in 2027, the first year of longwall production and averages 3.7 million tonnes per year from 2027 to 2051 the final full year of production. Projected consolidated revenue averages approximately $589.8 million per year during the period 2027 to 2051. Revenue totals $14.9 billion for the property’s life. Consolidated cash flow from the operation is positive throughout the projected operating period, with the exception of mine development years 2022 through 2026 and the post-production years, due to end-of-mine reclamation spending. Consolidated cash flow from the operation averages approximately $331.8 million per year from 2027 to 2051 and totals $8.3 billion over the mine life. Capital expenditures total $1.5 billion over the property’s life. 1.10.1 Cash Flow Analysis Cash flow after tax, but before debt service, generated over the life of the property was discounted to NPV at a 9% discount rate, which represents Warrior’s typical WACC. On an un-levered basis, the NPV of the property cash flows represents the Enterprise Value of the property and amounts to $1.6 billion. The pre-feasibility financial model prepared for the TRS was developed to test the economic viability of each coal resource area. The NPV estimate was made for purposes of confirming the economics for classification of coal reserves and not for purposes of valuing Warrior Met or its BC assets. The mine plan was not optimized, and actual results of the operation may be different, but in all cases, the mine production plan assumes the property is under competent management.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 18 1.10.2 Sensitivity Analysis Sensitivity of the NPV results to changes in the key drivers is presented in the chart below. The sensitivity study shows the NPV at the 9% discount rate when Base Case sales prices, operating costs, production, plant yield and capital costs are increased and decreased +/- 10%. A critical case combining Sales price and operating cost was also done reflecting the combined effect of plus 10% operating cost with -10% sales price to -10% operating cost and +10% sales price. Figure 1-7: Sensitivity of NPV 1.11 Permitting Permitting activities are well underway for execution of the Project. Critical permitting action items include the Mine Safety and Health Administration’s (MSHA) technical review of fine refuse impoundment design. Permitting associated with the barge loadout facility is anticipated to begin soon. The Project’s Surface Mine Control and Reclamation Act (SMCRA) permit is in place and will require a slight modification to account for revisions to surface facilities layouts. Warrior Met employs a staff of permitting experts who are continuing to oversee all activities pertaining to environmental and permitting aspects of the Project. 1.12 Conclusion and Recommendations Sufficient data have been obtained through various exploration and sampling programs to support the geological interpretations of seam structure and thickness for coal horizons situated on the subject.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 19 The data are of sufficient quantity and reliability to reasonably support the coal resource and coal reserve estimates in this TRS. The geological data and pre-feasibility study, which consider mining plans, revenue, and operating and capital cost estimates are sufficient to support the classification of coal reserves provided herein. As of the writing of this report, Warrior Met is currently conducting core drilling on the Property, and a sustained program of continued exploration is recommended, as well as acquisition of additional geophysical data available from the State Oil & Gas Board of Alabama. Continued evaluation of the preferred slope location and azimuth is also recommended to minimize potential geotechnical and hydrogeological encumbrances related to faulting. This geologic evaluation conducted in conjunction with the preliminary feasibility study concludes that the 63.3 Mt of marketable underground coal reserves identified on the Property are economically mineable under reasonable expectations of future market prices for metallurgical coal products, estimated operation costs, and capital expenditures. 2 Introduction 2.1 Registrant, Terms of Reference, and Scope of Work This report was prepared for the sole use of Warrior Met Coal, Inc. and its affiliated and subsidiary companies and advisors. The report provides a statement of coal resources and coal reserves for Warrior Met, as defined under the United States Securities and Exchange Commission (SEC) standards. The report provides a statement of coal reserves for Warrior Met. Exploration results and resource calculations were used as the basis for the mine planning and the preliminary feasibility study completed to determine the extent and viability of the reserve. Coal resources and coal reserves are herein reported in metric units of measurement and are rounded to millions of metric tonnes (Mt). 2.2 Information Sources The technical report is based on information provided by Warrior Met and reviewed by MM&A’s professionals, including geologists, mining engineers, civil engineers, and environmental scientists. MM&A’s professionals hold professional registrations and memberships which qualify them as Qualified Persons in accordance with SEC guidelines. Warrior Met engaged MM&A to conduct a coal reserve evaluation of the BC coal property as of December 31, 2021. For the evaluation, the following tasks were to be completed:

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 20 > Process the information supporting the estimation of coal resources and reserves into geological models; > Develop life-of-reserve mine (LOM) plans and a financial model; > Hold discussions with Warrior Met company management; and > Prepare and issue a Technical Report Summary providing a statement of coal reserves which would include: - A description of the mines and facilities. - A description of the evaluation process. - An estimation of coal resources and reserves with compliance elements as stated under the new SEC Guidelines which will become effective for the first fiscal year commencing on or after January 1, 2022. 2.3 Personal Inspections MM&A is very familiar with the Blue Creek property, having provided a variety of services since 1991 (including geophysical logging) to the present, and a QP involved in this TRS has conducted multiple site visits to the property. 3 Property Description 3.1 Location The Project is located in Tuscaloosa County, in northwestern Alabama, approximately 27 miles north of the city of Tuscaloosa and 36 miles west of the city of Birmingham in the southern region of the US. Highway 69 North bisects the Property. Figure 1-1 displays the Project’s location. The BC Property is adjoined by two nearby longwall mining operations that have extracted coal from the same Mary Lee and Blue Creek seams: > Shoal Creek on the east > Mine No. 4 on the south BC reserves and resources are located in two principal areas and five (5) blocks or areas: > Eastern Resource (Inclusive of Reserve) & Associated Reserve: - Area A - Area B - Area C

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 21 - Area D > Western Resource (Exclusive of Reserve), No Corresponding Reserve - Area E 3.2 Titles, Claims or Leases MM&A has not carried out a separate title verification for the coal property and has not verified leases, deeds, surveys or other property control instruments pertinent to the subject resources. Warrior Met has represented to MM&A that it controls the mining rights to the reserves as shown on its property maps, and MM&A has accepted these as being a true and accurate depiction of the mineral rights controlled by Warrior Met. 3.3 Mineral Rights Warrior Met, through its predecessor Walter, acquired the majority of its mineral rights for the Blue Creek property in 2010 through its purchase of the Chevron-owned coal assets located in Alabama. At the time of purchase, this acquisition included the North River longwall mine operating in the Pratt seam (which has since been divested). Since this acquisition, Warrior Met has strategically purchased and leased mineral and surface rights (and other tracts with options to lease) to further assemble the Project. Currently, Warrior Met has mineral rights on over 17,000 acres associated with the resource and the vast majority of surface rights needed for the planned facilities. Some additional coal leases are required to fully assemble the Property; however, with the exception of the Federal Bureau of Land Management (BLM), there does not appear to be notable risk to obtaining additional leases in a time frame consistent with the proposed project schedule. To mitigate risk associated with the BLM tracts, MM&A has assisted Warrior in developing a mine plan for the property which excludes the BLM tracts. This effort is being completed under separate cover and is not presented in the TRS, but it is important to note that financial modeling associated with this alternative mine plan showed favorable economics absent the BLM tracts, albeit at a reduced tonnage. It is of important note that tracts categorized as “owned” represent those in which Warrior Met owns a percentage of tract’s mineral rights. In addition to Warrior Met, other parties and entities own various portions of the “owned” tracts mineral rights. Additionally, the “leased” category includes those tracts in which Warrior Met leases a percentage of the tract’s mineral rights. By assignment, as part of the Study, MM&A has not completed a review of the major leases. Due to confidentiality, only general facts related to the major leases are noted. The majority of the coal leases have an identical initial term of 20 years from the date of execution with an additional 20-year lease term extension. A portion of the coal leases have 10-year term extensions. Certain leases have performance terms related to mining execution.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 22 The leases can be extended so long as mining operations are being conducted on the leased premises. The leases are then held by a series of earned production royalty payments. The annual minimum royalty is reduced by the amount of earned production royalty paid on mined coal. All annual minimum royalty payments are recoupable against any earned royalty due under the coal leases on a lease-by- lease basis. The royalty rates for the BC project are estimated to be 8.0% of the sales revenue FOB the mine after deduction of all transportation and loading costs between the mine and the vessel. By assignment, MM&A has not independently verified property boundaries specific to each lease; however, MM&A has reviewed Warrior Met-supplied boundary mapping. 3.4 Encumbrances No Title Encumbrances are known. By assignment, MM&A has not completed query related to Title Encumbrances. 3.5 Other Risks There is always risk involved in property control. Warrior Met has had their legal teams examine the deeds and title control in order to minimize the risk. Historically, property control has not posed any challenges related to Warrior Met’s operations. A significant portion of uncontrolled tracts which must be obtained by Warrior Met in order to execute the mine plan presented herein are owned by the Federal Government’s Bureau of Land Management (BLM). Regionally, operators (including Warrior Met’s predecessors) have experienced a successful track record of obtaining mining rights to BLM properties. 4 Accessibility, Climate, Local Resources, Infrastructure and Physiography 4.1 Topography, Elevation, and Vegetation The Property is located in the physiographic region of northern Alabama within the Black Warrior (BWB) Basin region of the US. The area is rugged upland of moderate topography with more than 200 feet of relief adjacent to major streams. The area is dissected by streams that flow to the southeast and eventually to the Black Warrior River. A major drainage within the Property is Big Yellow Creek and its two tributaries, Little Yellow Creek and Four Mile Creek. The upland topographic features are controlled by lithology, with large flat surfaces formed by underlying sandstone with steeper slopes formed by weathered shale and siltstones. Maximum relief within the Property is approximately 460 feet with elevation ranging from 260 feet above mean sea level (MSL) along banks of the Big Yellow River to 720 feet along the top of the flat ridges.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 23 4.2 Access and Transport General access to the Project complex is very good via State Route 69 which traverses the central portion of the Property from southwest to northeast. State Route 69 is a well maintained, paved, two- lane road with Interstate access in close proximity to both the north and south. SR-69 directly intersects Interstates 59 and 20 approximately 30 miles to the south at Tuscaloosa and intersects Interstate 22 about 23 miles to the north (with Birmingham about 40 miles to the east). Direct access to the preparation and coal handling facilities, as well as the supply yard at the mine slope is off of County Route 46 (Brandon School Road) which runs southeast to northwest through the Property from State Route 69. Brandon School Road is also a paved two-lane road, and these facilities lie within about 2.5 miles of the intersection with SR-69. The deep mine’s portal and shaft facilities lie along an unimproved road approximately one-quarter mile off of SR-69. All of the initial facilities are in close proximity to high quality, public roads and lie within 3 miles of each other. A multitude of coalbed methane (CBM) and gas well roads bisect the Property providing exceptional surface access to areas overlying the mineral boundaries. The closest rail transport for the proposed mine site is a rail line located approximately 8 miles to the northwest at the intersection of Brandon School Road and County Route 30 near the town of Berry. River transport with barge loadout facilities is available approximately 10 miles to the southeast of the proposed plant facilities on the Black Warrior River. In order to access additional coal markets, a new unit train rail loadout is also being considered. With the aforementioned rail access being at Berry, options are being considered to either bring rail to the preparation plant for on-site train loading or to install an overland conveyor to the existing rail for off- site train loading. The rail project has not been considered in the economic analysis presented in this TRS. It is anticipated that coal will be shipped into the seaborne metallurgical markets. As part of a commercial real estate transaction with Alabama State Port Authority in 2014, Warrior Met secured expansion capacity of the McDuffie Terminal to accommodate planned production. 4.3 Proximity to Population Centers The Property lies in close proximity to two large population centers. The city of Tuscaloosa lies approximately 27 miles south and Birmingham lies about 36 miles east of the proposed mine site. The Tuscaloosa and Birmingham metropolitan areas have populations of approximately 250 thousand and 1.2 million respectively (as of July 2018). Both areas have large industrial and manufacturing bases with employers such as Honda, Michelin and Mercedes-Benz having production facilities in the area. The city of Birmingham is home to the Birmingham-Shuttlesworth International Airport which handles close to 3-million passengers annually.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 24 4.4 Climate and Length of Operating Season The typical climate in this portion of Alabama is rather humid but temperate. The average annual temperature is 66 degrees Fahrenheit. Climate is hot during the summer when temperatures are typically in the 90-degree Fahrenheit range and cool during the winter when temperatures are typically in the upper 40-degree Fahrenheit range. The warmest month is generally July, and the coldest month is generally January. Alabama receives on average 56 inches of rainfall per year. The area is somewhat prone to severe thunderstorms resulting in occasional tornado activity and the inland effects of seasonal hurricanes. Seasonal variations in climate typically do not affect underground mining in the area, however, weather events could potentially impact the efficiency of surface and preparation plant operations on a very limited basis. 4.5 Infrastructure Infrastructure in the area surrounding the Blue Creek site is very diverse, well established and robust due to the large populations and current industrial activity in the surrounding metropolitan areas of Birmingham and Tuscaloosa. All of the primary infrastructure that the mine will need to operate (power, water, transportation/roads) is available with reasonable access requirements. Below is a list of the regional infrastructure near the proposed Blue Creek operation: Electrical Power The immediate area contains numerous coal-fired power plants producing base-load electricity. Major transmission and distribution lines are located within the area of interest. Alabama Power is the local utility which will provide electricity for the Project. Water and Sewer Public water is available locally through Oakman Water Works, Inc. No public sewer systems are available. Roads The area is serviced by an extensive network of well-maintained, federal, state and county highways in close proximity to the proposed mine site. Railroads A major commercial railroad is located along the western edge of the area of interest. Barge The Black Warrior River, located east of the Property, provides a means of barge transportation. Airports Birmingham-Shuttlesworth International Airport is located approximately 40 miles to the east. Mining Service Providers, Equipment Manufacturers and Supply Companies The Property is well serviced by major mining equipment manufacturers, rebuild facilities, and mine supply vendors. Specialized mining service providers including slope, shaft, and preparation plant construction companies are located in the immediate area.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 25 Hospitals – Ambulance, Med Flights There are numerous fully functioning hospitals (including major trauma centers) within a 50-mile radius of the area of interest. The area is serviced by a network of public and private ambulance and helicopter medical flight providers. Emergency Services – Fire, Police There are numerous fire departments and emergency medical service (EMS) providers within a 50-mile radius of the proposed mine site. The area is well serviced by a large network of federal, state and local law enforcement agencies with central dispatch and communications systems, including emergency 911 services. Schools The region has a well-developed public education network consisting of federal, state and local government-backed schools as well as privately funded schools. These include elementary, middle, and high schools, as well as technical and vocational schools. College/University The region contains numerous colleges and universities as well as well- established mining universities and training centers. Namely, the University of Alabama is located in the city of Tuscaloosa and offers scientific and engineering degrees. 5 History 5.1 Previous Operation The Property has gone through multiple ownership changes throughout its history. Prior to Warrior Met, the Property was controlled by Walter, which acquired the rights to the Property in 2010 through purchase from Chevron. Exploration and development efforts have been ongoing throughout the tenures of various owners. Although this particular project site has no operational history of its own, the region in general has a long, successful history of mining similar projects. There are currently four operating underground longwall operations mining the Mary Lee and Blue Creek seams on adjacent properties. Warrior Met operates two of the four mines, one of which utilizes two independent longwalls for coal production. 5.2 Previous Exploration The Property has been extensively explored as early as 1957 by subsurface drilling efforts carried out by numerous entities, most of which were completed prior to acquisition by Warrior Met including: Tennessee Coal, Iron & Railroad Company; U.S. Steel; The Pittsburgh & Midway (P&M) Coal Mining Company/Chevron; and Walter. The majority of the drilling was accomplished by means of conventional core hole exploration and air rotary drilling with geophysical logging for CBM wells.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 26 6 Geological Setting, Mineralization and Deposit 6.1 Regional, Local and Property Geology The Black Warrior coal basin (BWB), which encompasses the subject Property, is a foreland basin covering approximately 23,000 square miles (59,570 square kilometers) of northwestern and central Alabama. The basin extends approximately 230 miles from west to east and 188 miles from north to south. The BWB lies within the Cumberland Plateau portion of the Appalachian Highlands and contains Pennsylvanian System (300 million years) sedimentary coal-bearing strata of the Upper Pottsville Formation. Metallurgical coal deposits in northern Alabama are divided into three coal fields; the Black Warrior, the Cahaba, and the Coosa, of which the Black Warrior is the largest in both size and productivity. Of the coal groups within the BWB, historically the most dominant is the Mary Lee group (see Figure 6- 1). This sequence is “tagged” or identified with a 4-digit numeric system that generally includes the following strata (in descending stratigraphic order): > 7200 / 7300 – New Castle (typically present as Upper and Lower benches), 30 to 50 feet above the Mary Lee seam > 7400 – Mary Lee seam > 7450 – Middleman (rock parting) > 7480 – Rider seam (not always present) – included as part of the Middleman > 7490 – Parting between the Rider and Blue Creek seams (not always present) – included as part of the Middleman > 7500 – Blue Creek seam > 7600 – Jagger seam, where present, typically a few feet to tens of feet below the Blue Creek; however, may locally become part of the mineable section with the overlying Blue Creek seam.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 27 Figure 6-1: Geologic Column of the Mary Lee – Blue Creek Sequence The BWB is bound by the Alabama Valley and Ridge, Highland Rim, and East Gulf Coastal Plain physiographic providences. The southwestern and southeastern margins of the basin are terminated by frontal thrust faulting of the Ouachita and Appalachian orogeny. The basin has regionally southwestward dipping strata that are overlain by Cretaceous and Tertiary age deposits. The major structural feature within the basin is the Sequatachie anticline, which trends northeast to southwest between the Arkadelphia and Coalburg synclines. Structurally, coal horizons are typically characterized as gently dipping to the southwest and contain minor folds. However, the regional trend

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 28 has locally been significantly modified by the presence of a prominent structural feature referred to as the Wiley Dome (with relief of several hundreds of feet), which is present on the Blue Creek property, between the east and west areas of the mine plan. A smaller scale fold referred to as the Whitson anticline is present north of the Wiley dome. Faulting is widespread across the basin with high-angle, scissor-type normal faults and fault grabens common, which are typically oriented in a southeast to northwest alignment. Vertical displacement typically varies from only a few feet to as much as 350 feet. Multiple published and in-house reports have been compiled and examined during the course of this evaluation, and subsequently compared with the data shown on the base-of-seam structure for the Blue Creek seam. While faulting on the subject property generally reflects the same regional southeast to northwest pattern, a zone of inferred low-angle faulting (originally identified from a US Steel 1983 report) has been identified on the Property, nearly perpendicular to the regional fault orientation. The dip of this low-angle fault zone has been estimated at approximately 30 to 35 degrees, in contrast to the nearly vertical faults identified elsewhere in the basin. Prior studies as well as recent exploration on the Property have identified locations where the subject coal beds are locally faulted and replaced by fault gouge. The orientation of the low-angle fault zone is northeast-to-southwest and is located on the north side of the Wiley Dome; mine areas A and B are separated by this fault zone. 6.2 Mineralization Regional coal rank in the BWB generally ranges from a low-volatile coal in the southeastern portion of the basin to a high-volatile coal to the northwest. Due to the value of the Mary Lee and Blue Creek seams in the low- to medium-volatile coking coal market at its active Mine No. 4 and Mine No. 7 operations (and adjoining mines) to the south and east of the Property, the subject coal seams have been extensively mined in the region. Laboratory data for the Blue Creek Project indicates a typically high volatile (greater than 31% volatile matter) bituminous coal product. Based on analysis of coal samples, the Mary Lee and Blue Creek seams on the Property is considered a high-volatile metallurgical- grade coal product. 6.3 Deposits Sediments of the Upper Pottsville Mary Lee coal zone are Lower Pennsylvanian in age and comprised of cyclic sequences (refer to Figures 1-2 above and 6-2 below) including: sandstone, siltstone/sandy shale, shale (and occasional marine shale zones), and coal. Located within the middle of the Black Warrior Basin stratigraphic sequence, the Mary Lee and Blue Creek horizon is situated below drainage throughout the Property and is accessible by slope and shafts. General lithologic characteristics of the are described below: > The New Castle seam is present approximately 15 to 50 feet above the Mary Lee seam.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 29 > Lithologic composition of the roof strata varies throughout the Property, consisting primarily of a coarsening-upward sequence of shale or sandy shale, with occasional sandstone channels located within the immediate or main roof of the Mary Lee seam. > Although rare, areas where sandstone occupies the immediate roof of the Mary Lee seam have been observed from drilling records, where scouring of the seam may occur locally. Where sandstone channels are present within 4 to 6 feet above the Mary Lee (roof bolt horizon), there is potential for increased drawrock conditions and roof instability beneath the sandstone/shale contact. > The Mary Lee typically averages 1.75 feet within the eastern mine plan area of the Property; and 1.25 feet in the western area. The Mary Lee seam is the lithologically more consistent of the two seams in terms of thickness, however it generally thins to the west in Area E. Areas where the Mary Lee seam is absent are inferred to more often be associated with structurally faulted horizons than to depositional factors. > The composition of the stratum comprising the Middleman is highly variable and consists of shale, carbonaceous shale, or fireclay, to sandy shale; from a few inches to over 3.0 feet, averaging 1.0 feet to 1.5 feet in thickness. > The Blue Creek seam, which represents the better metallurgical quality of the two seams, and typically averages 4.35 feet within the eastern mine plan area of the Property; and 2.65 feet in the western area. The Blue Creek seam is subject to more erratic and abrupt thickness variation than the overlying Mary Lee seam. Reasons for this are not entirely clear but may be the result of: seam splitting; channel incision; differential compaction; presence of contemporaneous (“growth”) faults; or other paleographic factors present during or subsequent to deposition of the Blue Creek paleoswamp. The Blue Creek is typically thicker in the eastern portions of the Property and thins or splits to the west. > The combined thickness of the Mary Lee –typically averages 7.0 feet within the eastern mine plan area of the Property; and 5.0 feet in the western area. Areas within mine plan projections where the combined thickness of the Mary Lee – Blue Creek horizon are less than a minimum cutting height are generally rare, and where this occurs, roof (and/or floor) strata are expected to be excavated as out-of-seam dilution (OSD). > Compositional variability and thickness of the floor strata underlying the Blue Creek seam typically occurs within a coarsening-downward sequence varying from: very soft, thick fireclay within the immediate floor, to sandy fireclay, shale, sandy shale, and finally sandstone within the first three feet below the seam. Fireclay varies in thickness, from less than a foot to more than 10 feet. Due to inherently high clay content, this stratum is typically moisture-sensitive and may degrade when exposed to water accumulation on the mine floor.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 30 Figure 6-2: Generalized Geologic Profile Indicating Dominant Overburden Lithologies 7 Exploration 7.1 Nature and Extent of Exploration Exploration information has largely been collected, analyzed, and summarized by personnel from previous owners of the Property, Warrior Met, and their consultants. Vertical drilling has been the sole method of collecting exploration information since the seam does not outcrop within or near the Property, and there has been no mining on the Property. Spacing and quantity of exploratory drill holes is generally sufficient to define the coal resource within the Property. Initial exploration on the Project was entirely by drilling to collect data for delineation of coal and CBM resources. As a general practice, continuous core hole exploration is physically logged by a professional geologist while CBM holes are geophysically logged. Geophysical information from CBM wells was obtained by Warrior Met’s predecessor from the Geological Survey of Alabama Oil and Gas Board (GSA) and used to determine seam thickness and elevation. 7.1.1 Summary of Exploration Data MM&A was provided with the core hole records or summary information from geophysical logs as summarized below. Furthermore, during the course of this evaluation, MM&A was provided with additional CBM well digital files (scanned TIFF and LAS formats) from the GSA which were not in the original Warrior Met lithologic database; these were subsequently interpreted and added to the database.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 31 > Total number of holes: 1,250 drill holes utilized for mapping purposes > Total footage: 1,892,000 feet > Hole depths: ranging from 835 feet to 2,275 feet, averaging 1,525 feet. > Depth to top of Mary Lee seam: ranging from 810 feet to 1,615 feet, averaging 1,255 feet > A small group of drilling records was identified and categorized as “not honored” for various reasons, and as such were ignored for mapping purposes. Additional discussion is provided below in Section 9.1. Much of the coal quality information provided to MM&A consisted of previously summarized data in the form of Microsoft® Excel spreadsheets in an Adobe® PDF (PDF) format. Where available, scanned copies of coal quality sheets and summary reports were also provided. The most recent drill hole quality data (2021) were derived from exploration activity in the western portion of the Property. Bulk sample analyses obtained from adjacent mines were made available as was one bulk sample from two combined drill holes from which multiple wedged samples were obtained. Extensive exploration in the form of subsurface drilling has been carried out on the Property by numerous entities, most of whose efforts were completed prior to acquisition by Warrior Met. Diamond core, rotary, and CBM drilling are the three primary types of exploration on the Property. Data for correlation and mining conditions are derived from core descriptions and geophysical logging (e-logging). The location of the drilling is shown on the maps included within this report. The concentration of exploration varies across the Property, with the proposed underground mining areas having the highest concentration of drill holes. Drilling on the Property is typically sufficient for delineation of potential underground mineable benches. The M-series and S-series core holes were typically logged by professional geologists, while the remaining core hole data comes from simplified driller’s logs, which often lack specific details regarding geotechnical conditions and specific geology, making correlations and floor and roof conditions difficult to determine. Geophysical logging (e- logging) techniques, by contrast, document specific details useful for geologic interpretation and mining conditions. Mapping of future mining conditions is derived from data-compiled from a variety of past and present exploration programs, but projections and assumptions can be made within a reasonable degree of certainty. Due to the long history of exploration by various parties on the Property, a wide variety of survey techniques exist for documentation of data point locations. Many of the older exploration drill holes appear to have been located by survey. However, some holes appear to have been approximately located using USGS topography maps or other methods which are less accurate. Therefore, discretion had to be used regarding the accuracy for the location and ground surface elevation of some of these older drill holes. In instances where a drill hole location (or associated coal seam elevations) appeared to be inconsistent with the overall structural trend (or surface topography for surface-mineable areas), the data point was not honored for geological modeling. Others with apparently minor variances were

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 32 adjusted and then used by MM&A. Moreover, MM&A compiled topographic map files from the USDA website, using 1-meter resolution LIDAR Digital Elevation Models (DEM’s). Locations of all drill holes on the Property are shown on Figure 7-1 below. Figure 7-1: Drill Hole Location Map

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 33 7.2 Non-Drilling Procedures and Parameters Aside from exploration-based drilling and drilling associated with gas development, no additional information specific to the subject reserve’s thickness and quality characteristics is available. The coal reserve is approximately 1,200 to 1,300 feet below drainage across the Property, eliminating the potential of any outcrop examination. Information from mines on adjacent properties does provide some indication regarding anticipated structural trends and thickness continuity. Such parameters have been considered by MM&A in this TRS. 7.3 Drilling Procedures Core drilling methods utilize NX-size (21/8 inch) or similar-sized core cylinders to recover core samples, which can be used to delineate geologic characteristics, and for coal quality testing. In addition to the core holes, rotary drilled holes also exist on most of the Property. Data for the rotary drilled holes are mainly derived from downhole geophysical logs, which are used to interpret coal and rock thickness and depth since logging of the drill cuttings is not reliable. CBM holes are always logged geophysically, and the resulting interpreted data are incorporated into the geological model. Exploratory drilling generally requires drilling to depths from 800 to 1,600 feet to penetrate the target coal seams on the Property. A wide variety of core-logging techniques have been implemented on the Property. For many of the core holes, the primary data source is a generalized lithology description by the driller, while others were logged by a professional geologist. These drilling logs were provided to MM&A as a geological database. MM&A geologists were not involved in the production of original core logs but did perform a basic check of information within the provided database. 7.4 Hydrogeology 7.4.1 Introduction The hydrogeologic aspects of the project area have been assessed based on previous hydrogeologic study specific to the area, permitting documents, geologic logging records, and experience from other mines in the region. The assessment focuses on the potential for groundwater inflow to the proposed mine. As the majority of available geologic and hydrogeologic information is contained in Areas A, B, C and D, the current hydrogeological summary is most relevant to these areas but may also be applicable to Area E. Water quality data associated with the Mary Lee and Blue Creek coal horizons in the project area is not available. As such, water quality expectations specific to groundwater inflow to the mine have not been addressed. In general, the results of the current evaluation suggest that the quantity of groundwater inflow to the proposed mine is not likely to cause significant concern in most areas. Previous hydrogeologic assessment of the subject area and regional experience identifies that larger and persistent fracture

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 34 zones, often those with high angle or vertical faults and fractures, have the greatest potential to convey larger volumes of water into the mine, especially in areas affected by longwall mining subsidence. While there are numerous larger faults and fracture zones identified in the project area, the current mine plan significantly avoids major areas of hydrogeologic concern identified via previous hydrogeologic assessment of the Project. 7.4.2 Summary of Hydrogeologic Findings In general, the proposed mining is not expected to experience mine-wide, extensive water inflow issues, and in fact, most of the mine may be expected to be relatively dry. However, zones of significant faulting and fracturing do exist in the project area, and experiences in other mines in the region do suggest that the potential for significant water inflow via faults and fracture zones coupled with longwall mining-induced fractures does exist, especially where there is potential for interaction with surface water features. The current mine plan layout avoids the majority of potentially problematic areas, as designated by a previous assessment by others. The available hydrogeologic information for the project area indicates that significant water inflow to the mine is more likely to be associated with areas where longwall mining approaches areas of natural faulting and fracturing. In addition, water inflows in such areas are likely to be enhanced by proximity and connection of the combination of longwall mining-induced fractures and natural fractures to surface water bodies that may recharge water into the system. As a result, future drilling activity (core drilling or rotary bit) should include collection of fracture orientation and fracture frequency data. Data collection should include downhole geophysical techniques that allow for in situ measurement of discontinuity orientations. In addition, any core holes drilled should be logged with specific attention given to fracture characteristics, including frequency, orientation, weathering, and infilling. Given the vertical nature of a significant portion of the known fractures, angled drilling may be required to intersect and define the fracture zones. As mining approaches known fracture and fault zones, the extent, character, and water-bearing potential of the zones should be investigated. Such investigations may include combinations of angled drilling, downhole geophysics, and hydraulic conductivity testing. While many of the major faults and fracture zones have been identified, the extent to which fracturing extends from the mapped lines is unknown and may vary by area. Previous investigation suggests that relatively intense jointing may extend out to approximately 200 feet on either side of some faults, with the most intense fracturing only extending to approximately five feet on each side of known faults. As previously mentioned, the current assessment does not address the expected chemical quality of water to be encountered in the proposed mine. Groundwater quality data at the Mary Lee and Blue Creek horizon does not appear to be available. Future exploration activities should consider collection of water samples from the proposed mine horizon, if possible, to provide an initial means for evaluation. Future groundwater quality investigation should include analyses for metals (e.g., iron, manganese, and select “trace” metals), major ions (ex: chloride, sodium, sulfate, magnesium, calcium,

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 35 and potassium), pH, Total Suspended Solids (TSS), Total Dissolved Solids (TDS), and Specific Conductance (SC). Recent guidance from the United States Environmental Protection Agency (USEPA) suggests that coal mine operations with discharges having SC values greater than 300 microsiemens per centimeter (µS/cm) should be closely monitored and operations with discharges of greater than 500 µS/cm should be required to take mitigative action. The guidance is not law and enforcement of such standards is unknown. 7.5 Geotechnical Data Geotechnical data specific to the expected mine horizon is somewhat limited and has not been systematically collected as part of the mineral exploration drilling process. However, a report completed by Park (1989) contains site-specific laboratory and core logging geotechnical information for seven holes centrally located within the proposed mine area. Available data includes laboratory results for roof and floor rock and coal, for specific gravity, Uniaxial Compressive Strength (UCS), elastic modulus, Poisson’s Ratio, angle of internal friction, and cohesion. Core logging geotechnical data includes Rock Quality Designation (RQD) values for the roof and floor of the proposed mine. Additional UCS values, estimated from Point Load Tests (PLT), are also available for one additional hole located along Little Yellow Creek. The available data suggests that the proposed mine area may have the potential for some mine floor instability. Incorporation of additional geotechnical data collection via core drilling and downhole geophysics is recommended. Pillar sizing and design for the proposed mine is similar to that of Warrior Met’s two nearby active mines, and consistent with region-specific design equations initially developed in the 1980’s. The stability of the current pillar designs has also been verified using the Analysis of Coal Pillar Stability (ACPS) software. The pillar design incorporates a yield pillar concept that may mitigate some of the potential floor heave concerns. 8 Sample Preparation Analyses and Security 8.1 Prior to Sending to the Lab All of the coal samples have been obtained from the Property by subsurface exploration using core drilling techniques. The protocol for preparing and testing the samples has varied over time and is not well documented for the older holes drilled on the Property. Typical core-drilling sampling methods for coal in the United States involves drilling through the seam, removing the core from the barrel, describing the lithology, wrapping the sample in a plastic sleeve and placing it lengthwise into a covered core box, marking hole ID and depth intervals on each box and lid, and allowing the core to be delivered to a laboratory in correct stratigraphic order, with original moisture content. This process has been the norm for both historical practices at Warrior Met’s active and depleted operations and ongoing exploration activities at the Blue Creek property.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 36 This work is typically performed by the supervising driller, geologist, or company personnel. Samples are most often delivered to the company after each shift or acquired by company personnel or representatives. Most of the coal core samples were obtained by previous or current operators on the Property. MM&A did not participate in the collection, sampling and analysis of the core samples. However, it is reasonable to assume, given the consistency of quality from previous operators, that these samples were generally collected and processed under industry best practices. This assumption is based on MM&A’s familiarity with the operating companies and the companies used to perform the analyses. 8.2 Lab Procedures Coal-quality testing has been performed over many years by operating companies using different laboratories and testing regimens. Some of the samples have raw analyses and washabilities on the full seam (with coal and rock parting layers co-mingled) and are mainly useful for characterizing the coal quality for projected production from underground mining. Other samples have coal and rock analyzed separately, the results of which can be manipulated to forecast underground mining quality. Care has been taken to use only those analyses that are representative of the coal quality parameters for the appropriate mining type for each sample. Standard procedure upon receipt of core samples by the testing laboratory is to: 1) log the depth and thickness of the sample; then 2) perform testing as specified by a representative of the operating company. Each sample is then analyzed in accordance with procedures defined under American Society for Testing and Materials (ASTM) standards including, but not limited to washability (ASTM D4371); ash (ASTM D3174); sulfur (ASTM D4239); Btu/lb. (ASTM D5865); volatile matter (ASTM D3175); Free Swell Index (FSI) (ASTM D720). While not confirmed by MM&A, it is assumed that best practices and ASTM (or equivalent standards at the time of testing) were utilized in laboratory quality testing. 9 Data Verification 9.1 Procedures of Qualified Person MM&A reviewed the Warrior Met supplied digital geologic database, consisting of data records which include drill hole and coal quality information for holes that lie within and adjacent to the Property. To the extent available, scanned copies of original documents were provided for much of the Property (mining areas A, B, C, D, and E), and these were reviewed by MM&A on a test case basis. These sources comprise the primary data utilized in the evaluation of reserves within the Property. Warrior Met maintains copies of geologist field observation logs for each core hole drilled by Warrior Met and those that could be obtained from other entities and has compiled the core hole data into a digital geologic database consisting of approximately 1,250 drill holes, supplemented with additional GSA log data interpreted by MM&A. Of these, there are approximately 775 active CBM wells located in the project area operated by Warrior Met’s gas division, with an additional 455 wells operated by

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 37 Urban Oil and Gas. CBM wells are typically drilled on approximately 40-acre centers, which equates to roughly ¼-mile spacing. Geophysical logs were used wherever available to assist in confirming seam correlation and to verify seam thickness measurements. These are highly useful tools not only for identification of seam thickness, but also to determine intervals between seams; the relative location and amount of displacement found adjacent to faults as depicted on the maps can also be evaluated with this type of data. The level of accuracy for geophysical logs can be broadly grouped into one of three categories: low- resolution, intermediate-resolution, and high-resolution, due to: vintage of the logs, quality of scanned images, suite of tools used to log the well, source-to-detector spacing, scale of presentation, and so forth. Geophysical logs on the Property are of two general types: > CBM wells from various logging companies, that are publicly available from the GSA and have previously been reviewed and recorded by Warrior Met geologists for entry in the Warrior Met geological database. There are approximately 950 gas well geophysical logs within the Property, for which copies of approximately 750 scanned logs or LAS files (within all areas of the mine) were provided and reviewed on a test case basis by MM&A. Classification of these logs ranges from low- to intermediate-resolution. > Core holes drilled for P&M and geophysically logged by MM&A between 1991 and 1995, of which there are 87 high-resolution geophysical logs incorporated into this evaluation, most of which are located in the eastern portion of the Property (with a few scattered in the west). Copies of the MM&A geophysical logs are maintained within its archives located in Bluefield, Virginia. (An additional 23 holes were geophysically logged by MM&A on the Property; however, coordinates are unavailable and consequently have not been utilized in this evaluation.) A significant effort was put into verifying the integrity of the database. As noted previously, an additional group of drilling records was identified and categorized as not honored and ignored for mapping purposes for the following reasons: - possessing poor or suspect core recovery; or - thickness impacted by the influence of tectonic faulting; or - seam thickness information was interpreted from older vintage and/or lower resolution geophysical logs. - original records were unavailable from which to confirm suspect information. Once this was completed, stratigraphic columnar sections were generated in select areas using cross- sectional analysis to establish or confirm coal-seam correlations. Furthermore, reported drill hole collar elevations were checked and verified utilizing a LIDAR topographic model, and adjustments were made as deemed appropriate. When the database was fully vetted, seam thickness, base-of-seam elevation,

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 38 roof and floor lithology, and overburden maps were finally generated for use in the mine planning process. 9.2 Limitations As with any exploration program, localized geologic anomalies cannot always be identified; however, the greater the density of samples taken, the lower the risk. Once an area is identified as being of interest for inclusion in the mine plan, additional samples are normally collected to reduce the risk within those specific areas. In general, provision is made in the mine planning portion of the study to allow for localized anomalies that are typically classed more as a nuisance than a hinderance. 9.3 Opinion of Qualified Person In the eastern portion of the Property (Mining Areas A through D), sufficient data has been obtained through various exploration and sampling programs to support the geological interpretations of seam structure and thickness for the mineable coal horizons. The data are of sufficient quantity and reliability to reasonably support the coal resource and coal reserve estimates in this TRS, compliant with 2021 SEC Standards. Acquisition of data (specifically core drilling and coal quality testing) are ongoing within the western and southwestern portions of the Property (mining Area E). Thus, resource tonnage estimates presented herein specific to mining Area E are based upon preliminary results. It is Warrior Met’s and MM&A’s intentions to elevate the classification of such resources in Area E to 2021 standards via further geologic analysis and an ongoing exploration program to determine quality characteristics of the subject coal. 10 Mineral Processing and Metallurgical Testing 10.1 Testing Procedures Coal quality data was available for coal samples from the legacy core holes within the resource area. Because these samples were obtained by different entities at different times, some variability exists between sampling and/or testing procedures (i.e., variable float gravity, coal only sampling, etc.). Data from three sets of borings have been provided and are referenced as the M-series, NR5-series, and S - series of holes. 10.1.1 M-Series Holes The M-series of borings were performed by U.S. Steel and the samples were tested by the U.S. Steel’s Research Division. The M-Series borings are further sub-divided into two groups based on the reports in which they were issued. Borings M-360 through M-808 were reported in a memorandum from the U.S. Steel Research Division, “Evaluation of Mary Lee/Blue Creek-Seam Coal Drill Cores and Composite Samples from the West-West Wilmington Area, Tuscaloosa County, Alabama, December 1980”. From

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 39 the report, the total seam, including the Middleman, was processed in laboratory analysis. The samples were crushed to minus ¼-inch, and then split for washability and composite analysis. These samples were evaluated at cumulative float specific gravities of 1.35 and 1.55. The resulting samples were tested for Proximate Analysis, Gieseler Plasticity, Free Swelling Index, Hardgrove Grindability, and Petrographic Analysis. The second set of M-series borings, M-812 through M-817, were reported in a study issued by U.S. Steel, “West Wilmington Coal Project Tuscaloosa County, Alabama, 1983”. Again, the total seam was considered in this study, including the Middleman. The samples were crushed to minus ¼-inch and then subjected to washability analysis. The samples were evaluated at a cumulative float specific gravity of 1.55. This sample was then divided, half of which was retained for further analysis. Half of the sample was re-analyzed at a float at a specific gravity of 1.37. The resulting samples were subjected to the following tests: Proximate Analysis, Total Sulfur, Ultimate Analysis, Calorific Value Analysis, Gieseler Plasticity, Free Swelling Index, Ash Composition, Ash Fusion Temperature, and Petrographic Analysis. 10.1.2 NR5-Series Holes The NR5-series of borings were performed by P&M. A report summarizing the NR5 series of borings has not been provided or reviewed by MM&A. Inferences have been made based on the provided laboratory data sheets. The Mary Lee and Blue Creek samples were processed separately for these borings, and no Middleman was included. It is unknown if the samples were crushed prior to the washability analysis. These sample were only floated at a cumulative specific gravity of 1.7. The resulting samples were tested by Commercial Testing & Engineering Company with report dates in 1990, 1991, and 1992. The tests performed on these samples include Proximate Analysis, Ultimate Analysis, Ash Fusion Temperature, Forms of Sulfur, Water Soluble Alkalis, Hardgrove Grindability, Equilibrium Moisture, Free Swelling Index, Ash Composition, Base-Acid Ratio, Fouling Index, and Slagging Index. 10.1.3 S-Series Holes The S-series of borings were performed by Walter. As with the NR5-series holes, no report has been provided summarizing the sampling and testing methods for the S-series borings. Some inferences have been made from the laboratory data sheets that have been provided. The Mary Lee and Blue Creek samples from these borings were processed separately and the Middleman was not included in the analysis. It is unknown if the samples were crushed prior to the washability analysis. These samples were tested at specific gravities of 1.4, 1.5, 1.6, and 1.7. The resulting samples were tested for ash and sulfur. A composite sample, assumed to be analyzed at a cumulative Float 1.5 specific gravity sample, was tested for a Proximate Analysis and Free Swelling Index. These basic coal quality tests were performed by Warrior Met’s in-house lab. Over the years, select samples have been sent to various laboratories including: SGS; Coal Tech Petrographic Associates; and Precision Testing Laboratory (Precision) for more specialized testing. These analyses

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 40 include Ultimate Analysis, Hardgrove Grindability, Ash Fusion Temperature, Ash Composition, Coke Reactivity Index, Coke Strength After Reaction, Gieseler Plasticity, and Petrographic Analysis. Report dates for the S-series borings include data from 2009 through 2021. 10.2 Warrior Met’s Current Exploration Procedures Warrior Met currently has an on-going exploration program on the Property, consisting of 7 fully cored holes or spot-cored holes drilled in 2021 within Area E, recently completed as of the writing of this report. Coal samples were subsequently delivered to Precision Testing in Daniels, West Virginia. From the 2021 exploration program, six (6) S-series core hole samples of the Mary Lee and Blue Creek samples were collected and separately analyzed. These samples were analyzed by Precision, including the following: > Washability analyses at multiple float-sink gravities, including flotation analysis on -60 mesh material. > Proximate and Ultimate analyses > Audibert – Arnu Dilatometer, FSI, Gieseler Plasticity, and Fusion Temperature of Ash (Reducing) > Mineral analysis of ash > Petrographics, Vitrinite Reflectance 10.3 Quality Assessment Coal quality parameters (yield, ash and sulfur) at a cumulative float gravity of 1.55 were used to assess the consistency of the data across the three series described above. MM&A reconstituted a combined Mary Lee, Middleman and Blue Creek section for each honored drill hole. In instances where a float gravity of 1.55 was not tested, appropriate values were determined using graphical interpolation of similar holes. These values processed using Carlson Software and the grids were generated to contour and assess consistency across the mine property. MM&A determined that in-seam yield and product ash were generally consistent across Areas A through D when assessing the total mineable section. Product sulfur appears to generally increase gradually from the eastern to western portion of the Property. Further exploration is recommended to confirm or dispute this trend. The results of the three exploration programs have been assembled and tabulated in a Microsoft® Excel spreadsheet to determine the basic statistical parameters (average, maximum, minimum) of typical chemical and physical coal quality properties. The data has been tabulated for the Mary Lee, Blue Creek, and Total Seam by density class. The basic statistical parameters for each seam at a float 1.50 gravity, or nearest available gravity, are shown below in Table 10-1. Samples that were deemed to be erroneous were excluded from calculations.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 41 Table 10-1: Yield, Clean Ash and Sulfur (1.5 SG), Eastern Mining Areas A Through D Mary Lee Blue Creek Total Seam Float 1.5 Float 1.5 Float 1.55 % Rec. % Ash % Sulfur % Rec. % Ash % Sulfur % Rec. % Ash % Sulfur % Vol. Average 88.15 12.77 0.91 91.90 8.42 0.60 68.53 9.35 0.70 28.10 Maximum 96.26 14.26 1.20 98.01 10.26 0.79 80.30 12.90 1.21 30.10 Minimum 76.09 11.51 0.71 73.50 6.98 0.52 44.60 7.69 0.50 26.10 No. of Samples 18 18 18 19 19 19 59 59 59 58 As stated previously, the method of sampling, testing, and reporting was not consistent across the different data series. Due to the lack of summary reports describing the testing procedures, observations of the reported data were used to determine when a combined sample (i.e., combination of Mary Lee and Blue Creek horizons) sample did or did not include the middleman parting. This observation was used to exclude data when necessary as well as identify what borings required further data processing for inclusion in MM&A’s analysis. Where quality results were deemed not useful or unrepresentative, those results were excluded (not honored) from statistical analyses and coal quality modeling but are included within detailed coal quality tables in MM&A’s files for informational purposes with the appropriate qualifying comments. 10.4 Derivation of Product Yield Generalized washabilities (i.e., cumulative float tables at various gravities) were produced for both the Mary Lee and Blue Creek seams. Due to the lack of sizing data, the washabilities are presented on a whole (by zero) basis with top-sizes varying between 2 inches and one-quarter inch, depending on the vintage of the drill hole. Averages were generated for each respective float specific gravity. This introduced some bias, as certain gravities included analysis for more holes, because not all holes were evaluated at the same gravity increments. Efforts were made to include as much of the provided washability data as possible. Data points that were deemed to be erroneous were omitted from the analysis. Likewise, the M-series data was not included in the average because its test work included the parting between the Mary Lee and Blue Creek seams. Due to the thickness variability of the respective Mary Lee and Blue Creek seams, it was determined that yields were to be calculated on independently for each seam, with the assumption that all Middleman material reports to reject circuitry. Generalized washabilities for each seam were produced by averaging the cumulative float data from selected NR5 and S-series boreholes. Table 10-2 shows the average washabilities of the two seams as well as the average combined washability excluding the middleman. The combined washability was calculated by weight averaging the individual seam washabilities with a ratio of 2.32 tonnes of Blue Creek coal per 1 ton of Mary Lee. This ratio is based on the life-of-mine tonnage model which results in the same ratio of Blue Creek to Mary Lee tonnes.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 42 Table 10-2: Washability for the Mary Lee, Blue Creek, and Combined Seam (Excluding Middleman), Dry Basis, Eastern Mining Areas A Through D Incremental Cumulative (%) Yield (%) Ash (%) Sulfur (%) Yield (%) Ash (%) Sulfur Mary Lee 1.4 77.55 11.75 0.82 77.55 11.75 0.82 1.5 10.40 20.50 1.51 87.95 12.79 0.90 1.6 2.73 29.31 2.56 90.67 13.28 0.95 1.7 1.35 40.02 3.19 92.02 13.67 0.98 Sink 7.98 66.14 2.16 100.00 17.86 1.08 Blue Creek 1.4 82.50 7.42 0.61 82.50 7.42 0.61 1.5 8.77 17.75 0.62 91.26 8.41 0.61 1.6 2.64 26.32 0.88 93.90 8.92 0.62 1.7 1.33 33.98 1.34 95.23 9.27 0.63 Sink 4.77 65.26 0.83 100.00 11.93 0.64 Combined Mary Lee and Blue Creek, Excluding Middleman 1.4 81.01 8.67 0.67 81.01 8.67 0.67 1.5 9.26 18.68 0.92 90.26 9.70 0.69 1.6 2.67 27.24 1.40 92.93 10.20 0.71 1.7 1.34 35.81 1.90 94.27 10.56 0.73 Sink 5.73 65.63 1.39 100.00 13.72 0.77 All the provided exploration data was from exploration core testing. Quality evaluations associated with slim core testing (including NX-sized core) tends to produce a cleaner ash and higher yield than is achievable during the mining the process. This is due to the small top-size of the core samples which provide greater coal-ash liberation than what would be expected in a typical run-of-mine product. Additionally, laboratory results are theoretical and do not account for plant inefficiencies or losses. MM&A modified yields and clean ash values as presented in Table 10-2 to reflect a 95-percent plant efficiency and a 1-percent gain in clean ash. Table 10-3 shows the average cumulative washability data after an ash modifier of 1-percent and an organic efficiency of 95-percent have been applied to the data.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 43 Table 10-3: Washability for the Mary Lee, Blue Creek, and Combined Seam (Excluding Middleman), Dry Basis, After Yield and Ash Adjustment; Eastern Mining Areas A Through D Cumulative Float (%) Yield (%) Ash (%) Sulfur Mary Lee 1.4 73.67 12.75 0.82 1.5 83.55 13.79 0.89 1.6 86.14 14.28 0.94 1.7 87.42 14.67 0.97 Sink 100.00 17.86 1.08 Blue Creek 1.4 78.37 8.42 0.61 1.5 86.70 9.41 0.61 1.6 89.21 9.92 0.62 1.7 90.47 10.27 0.63 Sink 100.00 11.93 0.64 Mary Lee and Blue Creek Combined 1.4 76.96 9.67 0.67 1.5 85.75 10.70 0.69 1.6 88.28 11.20 0.71 1.7 89.55 11.56 0.73 Sink 100.00 13.72 0.77 Examining the total seam washability shows that washing the combined coal at a 1.42 specific gravity results in a product ash of 10-percent with yields approaching 80-percent on a dry basis. Projecting this cut point on an individual seam basis suggests respective yields of 80-percent and 77-percent for the Blue Creek and Mary Lee seams, inclusive of a 95-percent plant efficiency factor. Average washabilities suggest individual dry product ashes of 8.7-percent and 13.1-percent for the Blue Creek and Mary Lee seams. As the relative thicknesses and subsequent tonnage ratios vary from the average 2.32 to 1 (Blue Creek to Mary Lee), total clean ash will fluctuate. Production timing as incorporated in financial modeling suggests annual average clean ash variations to be in the range of 0.5-percent. Localized higher ash zones and zones with relatively low percentages of Blue Creek coal will result in higher ash fluctuations. Such fluctuations in quality can be mitigated by stockpiling of raw and clean coal and blending. 10.5 Relationship of Tests to the Whole The actual quality of shipped coal will likely vary due to the following factors: 1) particle size of the coal fed to the plant; 2) specific gravity of the float media in use at the preparation plant; 3) type of plant circuit(s); 4) efficiency of the plant circuit(s); 5) the moisture content of the final product; and 6) customer requirements. However, once baseline coal quality is established, additional sampling programs and testing procedures can be implemented to assist with: 1) predicting additionally refined plant yields which account for anticipated particle sizes that reflect a typical ROM product and include out-of-seam dilution (OSD); 2) assessing optimum specific gravity of preparation plant float media to meet product specifications; and 3) further designing and/or modifying plant circuit(s) if necessary.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 44 In general, the data obtained thus far shows that the quality attributes are reasonably consistent and should allow for predictability of the product coal quality from the subject seams. 10.6 Lab Information MM&A assumes that laboratory testing has following appropriate ASTM or equivalent standards, including those defined under ASTM standards including, but not limited to: > ASTM D 4371 – Test Method for Determining Washability Characteristics of Coal > ASTM D 3174 – Method for Ash in the Analysis Sample of Coal and Coke > ASTM D 5865 – Test Method for Gross Calorific Value of Coal and Coke > ASTM D 3175 – Test Method for Volatile Matter in the Analysis Sample of Coal and Coke > ASTM D 720 – Test Method for Free-Swelling Index (FSI) of Coal > ASTM D 5515 - Test Method for Determination of the Swelling Properties of Bituminous Coal Using a Dilatometer (Arnu) > ASTM D 2639 – Test Method for Plastic Properties of Coal (Gieseler) > ASTM D 1857 - Standard Test Method for Fusibility of Coal and Coke Ash > ASTM D 2798 – Microscopical Determination of the Reflectance of Vitrinite in a Polished Specimen of Coal 10.7 Relevant Results, Metallurgical Quality Table 10-4 presents a summary of the ranges of available metallurgical quality data for the combined seams. This data covers samples from various float gravities as well as total number of samples analyzed per data set. Data from any erroneous holes were excluded from the reported ranges. Detailed metallurgical quality tables are retained in MM&A’s files. Three sets of quality tables provide seam Rheological Information, Petrographic Information, as well as summarize any additional testing. The individual coal sample reports from the various coal testing laboratories are held in the MM&A files and can be provided upon request.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 45 Table 10-4: Metallurgical Characteristics Total Seam Elemental Ash Analysis Min Max No. of Samples Na2O (Sodium Oxide) + K2O (Potassium Oxide) 1.75 3.76 17 Base / Acid Ratio (in ash) 0.1 0.2 17 Audibert-Arnu Maximum Dilatation 113 180 5 Maximum Contraction -27 -22 5 Gieseler Plasticity Max. Fluidity DDPM (dial divisions per minute) 1300 30000 82 Fluid Temp. (Plastic) Range ºC 71 117 82 Petrographic Indices Hardgrove Grindability Index 54 67 53 Free Swelling Index (FSI) 8 9 66 Mean Max Reflectance % 0.95 1.23 127 Composition Balance Index (CBI) 0.22 1.01 127 Rank Index (Calculated Strength) 3.22 5.18 127 Calculated Stability Factor 30 64.5 21 Coke Reactivity Index (CRI) 31.8 34.5 2 Coke Strength After Reaction (CSR) 45.2 48 2 11 Mineral Resource Estimates MM&A independently created a geologic model to define the coal resources at the Property. Coal resources were estimated as of December 31, 2021. Resources are reported inclusive (Areas A through D) of coal reserves and exclusive of coal reserves (Area E). Resources for Areas A through D presented herein are utilized for mine planning purposes, and subsequently, reserve estimates. Due to constraints imposed by differences in coal quality testing methodology, resources represent in-place coal tonnages and in-place coal quality, exclusive of the interburden between the Mary Lee and Blue Creek seams (a.k.a. Middleman). Ash bands and partings within the Mary Lee and Blue Creek horizons are included in tonnage and quality projections for the property’s resource. 11.1 Assumptions, Parameters and Methodology Geological data were imported into Carlson Mining® (formerly SurvCADD®) geological modelling software in the form of Microsoft® Excel files incorporating, drill hole collars, seam and thickness picks, bottom seam elevations and raw and washed coal quality. These data files were validated prior to importing into the software. Once imported, a geologic model was created, reviewed and verified- with a key element being a gridded model of coal seam thickness. Resource tonnes were estimated by using the seam thickness grid based on each valid point of observation and by defining resource confidence arcs around the points of observation. Points of observation for Measured and Indicated confidence

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 46 arcs were defined for all valid drill holes that intersected the seam using standards deemed acceptable by MM&A based on a detailed geologic evaluation and a statistical analysis of all drill holes within the projected reserve areas as described in Section 11.1.1. The geological evaluation incorporated an analysis of seam thickness related to depositional environments, adjacent roof and floor lithologies, and structural influences. After validating coal seam data and establishing correlations, the thickness and elevation for seams of economic interest were used to generate a geologic model. Due to the reasonable continuity of the coal beds, the principal geological interpretation necessary to define the geometry of the coal deposits is the proper modeling of their thickness and elevation. Both coal thickness and quality data are deemed by MM&A to be reasonably sufficient within the resource areas. Therefore, there is a reasonable level of confidence in the geologic interpretations required for coal resource determination based on the available data and the techniques applied to the data. Table 11-1 below provides the geological mapping and coal tonnage estimation criteria used for the coal resource and reserve evaluation. These cut-off parameters were developed by MM&A based on its experience with comparable mining projects. This experience includes technical and economic evaluations of numerous properties in the region for the purposes of determining the economic viability of the subject coal reserves. Table 11-1: General Reserve and Resource Criteria Item Parameters Technical Notes & Exceptions* • General Reserve Criteria Reserve Classification Reserve and Resource Reliability Categories Reserve (Proven and Probable) Resource (Measured and Indicated) To better reflect verified geological information, “arcs” which represent indicated resource (probable reserve) and measured resource (proven reserve) are limited to those holes in which MM&A verified source data Effective Date of Resource Estimate December 31, 2021 The Property represents a greenfield area and has not been developed as of the date of this report. Effective Date of Reserve Estimate December 31, 2021 The Property represents a greenfield area and has not been developed as of the date of this report. Seam Density Variable, dependent upon seam characteristics (based on available drill hole quality). Density estimates are based upon the relative thickness of the 3 primary constituents of the mineable section, with the Mary Lee, Middleman and Blue Creek respectively modeled at 89, 140 and 85 pounds per cubic foot. • Underground-Mineable Criteria Map Thickness Total seam thickness Minimum Seam Thickness Approximately attributed to an equivalent 3-feet of combined coal thickness between the Mary Lee and Blue Creek horizons In some instances, projections extend beyond 3-ft coal thickness cutoff for contiguous mine plan. Minimum Mining Thickness 5-feet for Longwall Mining; 7-feet for Continuous Mining Sections Minimum In-Seam Wash Recovery Driven by 3-feet coal thickness Wash Recovery Applied to Coal Reserves Variable, dependent upon seam characteristics (based on available drill hole quality). Recovery estimates are based upon the relative thickness of the 3 primary constituents of the mineable section, with the Mary Lee, Middleman and Blue Creek respectively modeled at 77, 0 and 80

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 47 Item Parameters Technical Notes & Exceptions* percent. Simulations utilized to achieve a 10- percent ash product. Out-of-Seam Dilution Thickness for Run-of-Mine Tonnes Applied to Coal Reserves 0 inches Dilution assumed to wash-out of ROM product and is not included in saleable reserves. Financial modeling includes assumption of minimum of 3-inches of Out-of- Seam dilution at 140 lb./ft3 density Mine Barrier Not Applicable—Projections Do Not Border Active or Abandoned Reserves CBM Wells CBM Wells Assumed to be Plugged Ahead of Mining and Mined Through. No reserve/resource reductions considered. Adjustments Applied to Coal Reserves 10 percent moisture increase; 5 percent preparation plant inefficiency (included in aforementioned wash recovery). Longwall panel tonnages further decreased by 5-percent factor to account for unknowns associated with faulting. 11.1.1 Statistical Analysis for Classification MM&A completed a statistical analysis on drill holes within the reserve boundaries to determine the applicability of the common United States classification system for measured and indicated coal resources. Historically, the United States has assumed that coal within ¼ mile of a point of observation represents a measured resource whereas coal between ¼ mile and ¾ mile from a point of observation is classified as indicated. Inferred resources are commonly assumed to be located between ¾ mile and 3 miles from a point of observation. Per SEC regulations, only measured and indicated resources may be considered for reserve classification, respectively as proven and probable reserves. A general acceptable thickness variation for measured resources is approximately 20 percent. Thickness variations for indicated resources are assumed to average less than 30 percent, which is also comparable with historical standards. MM&A extracted drill hole information from within projected reserve areas, which included coordinates (northing and easting) and combined Mary Lee and Blue Creek seam thickness. Drill holes included diamond core, rotary, and CBM holes. Those holes which lacked source data (i.e., lacked high resolution geophysical logs or original drillers logs) were fileted separately. Once the data was extracted, matrices were formed to calculate the distance and percent change in seam thicknesses between each combination of drill holes in the reserve area. Distances were then sorted smallest to largest and the variation in thicknesses was analyzed as a function of distance between drill holes. Ultimately, the average variation in thicknesses between drill holes at ¼-, ¾- and 3-mile intervals were calculated to determine the applicability of common US resource classification systems. The total number of drill holes used in this study is 517, of which 275 are included as source data. Table 11-2 is a breakdown of the statistics used in the study with all three bench configurations combined.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 48 Table 11-2: Statistical Breakdown Classification: Measured Indicated Inferred Distance Between Drill holes (miles): 0 – ¼ ¼ - ¾ ¾ - 3 Number of Data Pairs (Source Data Only): 518 4,694 41,192 Number of Data Pairs (All Data): 1,478 10,604 119,622 Average Thickness Variation (Source Data Only): 24% 28% 33% Average Thickness Variation (All Data): 45% 40% 57% Percent of Pairs Exhibiting Less Than 20-percent Negative Variability (Source Data Only): 80% 80% 78% Percent of Pairs Exhibiting Less Than 20-percent Negative Variability (All Data): 73% 75% 69% As is shown, the thickness variation between holes (verified data only) is approximately equivalent to historically accepted standards. Utilizing all of the drill hole information, including that which lacks source data, significant variations exist which would prohibit historically accepted standards. As such, MM&A only utilized those points of observation with source information for indicated and measured status. Of important note, thickness modeling for resource (and subsequently, reserve) estimates included all available thickness information, including the highly variable, non-vetted drill holes which lack source information. MM&A initially computed resource estimates both with and without the highly variable, non-vetted information. Resources estimates were within 1-percent of one-another, despite the highly variable nature of the non-vetted information. MM&A geologists and engineers modeled the deposit to reflect the realities of mining. This statistical study demonstrates that for each configuration of mineable seams, the classification system of measured (0 to ¼ mile), indicated (¼ to ¾ mile), and inferred (¾ to 3 miles) is reasonably adequate to predict seam thickness variation for modeling and mining purposes, for those drill holes which contain sufficient source exploration to be deemed reliable points of observation for thickness. 11.2 Qualified Person’s Estimates Based on the work described and detailed modelling of the areas considering all the parameters defined, a coal resource estimate, summarized in Table 11-3, was prepared as of December 31, 2021, for Property (see Appendix 1). Resources are presented inclusive of coal reserves, not in addition to coal reserves. Resources represent in-place coal tonnages exclusive of the interburden, but inclusive of any high-ash partings within the Mary Lee and Blue Creek coal seams. As such, in-situ tonnages and quality as presented in Table 11-3 reflect the inclusion of high-ash partings which is ultimately removed after mining during coal preparation.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 49 Table 11-3: Coal Resources Summary as of December 31, 2021 Coal Resource (Dry Tonnes, In Situ, Mt) Resource Quality (Dry) Seam Measured Indicated Inferred Total Ash% Sulfur% VM% Inclusive of Reserves (East Area) Mary Lee 18.8 10.5 0.0 29.3 - - - Blue Creek 49.7 23.3 0.0 73.0 - - - Total 68.5 33.8 0.0 102.3 13.7 0.8 30 Exclusive of Reserves (West Area) Mary Lee 0.0 15.3 0.0 15.3 - - - Blue Creek 0.0 29.5 0.0 29.5 - - - Total 0.0 44.9 0.0 44.9 19.3 1.6 31 Grand Total 68.5 78.7 0.0 147.2 - - - Note 1: For the East area, Resource tonnes are inclusive of reserve tonnes since they include the in-situ tonnes from which recoverable coal reserves are derived. Note 2: For the West area, Resource tonnes are exclusive of reserve tonnes since they include the in-situ tonnes for which no recoverable reserve tonnes have been estimated. Note 3: Coal resources are reported on a dry basis, inclusive of high-ash partings which are ultimately removed during coal preparation. Surface moisture and inherent moisture are excluded. Note 4: Coal resource quality reported on a raw, weight-averaged basis 11.3 Qualified Person’s Opinion Based on the data review, the attendant work done to verify the data integrity and the creation of an independent geologic model, MM&A believes this is a fair and accurate representation of the Property’s resources. Resources exclusive of reserve are limited by quality definition. Initial drilling suggests potentially higher ash and sulfur parameters in comparison to the eastern areas. Sufficient exploration data exists to define the thickness distribution trends of the western area, but ongoing additional exploration is needed to better define quality characteristics of the subject coals. Additionally, the western resource area exhibits thinner seam characteristics than the eastern area. Extrapolation of trends between seam thickness and costs suggests that the coals in the western resource area could be mined at reasonably similar costs to those in the east, albeit higher. Market impacts of potentially higher ash and sulfur values is unknown. Warrior Met is currently planning an exploration campaign to better define these trends. 12 Mineral Reserve Estimates 12.1 Assumptions, Parameters and Methodology Coal Reserves are classified as proven or probable considering “modifying factors” including mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors. > Proven Coal Reserves are the economically mineable part of a measured coal resource, adjusted for diluting materials and allowances for losses when the material is mined. It is based on appropriate assessment and studies in consideration of and adjusted for reasonably assumed

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 50 modifying factors. These assessments demonstrate that extraction could be reasonably justified at the time of reporting. > Probable Coal Reserves are the economically mineable part of an indicated coal resource, and in some circumstances a measured coal resource, adjusted for diluting materials and allowances for losses when the material is mined. It is based on appropriate assessment and studies in consideration of and adjusted for reasonably assumed modifying factors. These assessments demonstrate that extraction could be reasonably justified at the time of reporting. Upon completion of delineation and calculation of coal resources, MM&A generated a LOM plan for the Project. The footprint of the LOM plan is shown on the maps in various figures throughout the text. The mine plan was generated based on previous mine plans, anticipated lease acquisitions, and operational criteria with modifications where necessary due to geologic mapping, or other factors determined during the evaluation. Carlson Mining software was used to generate the LOM plan. The mine plan was sequenced based on productivity schedules developed collaboratively between MM&A and Warrior Met. MM&A judged the productivity estimates and plans to be reasonable based on experience and current industry practice. A minimum mining height of 5 feet was used due to the longwall mining method being employed, and 7.0 feet for continuous miner sections. For coal seams thinner than the assigned mining height, the difference between the coal seam height and assigned mining height consists of OSD. Mine recovery generally varies between 30 and 60 percent for continuous mining panels, and 95 percent for longwall. Plant recovery is a function of in-seam recovery, OSD and adjustments to produce a 10-ash product. Typical entry width is 20-feet. Raw, ROM production data outputs from LOM plan sequencing were processed into Microsoft® EXCEL spreadsheets and summarized on a quarter and annual basis for processing into the economic model. Average seam densities were estimated to determine raw coal tonnes produced from the LOM plan. Average mine recovery and wash recovery factors were applied to determine coal reserve tonnes . Coal reserve tonnes in this evaluation are reported at a 10.0-percent moisture and represent the saleable product from the Property. Pricing, as provided by Warrior Met, is described in Section 16.2. The pricing data assumes an FOB railcar or barge price of approximately $125 per metric tonne for calendar year 2025 when production begins. The price increases, based on the most recent supply and demand forecast, to approximately $158 per metric tonne by 2030 then it is held constant afterwards. Pricing for years 2022 through 2024 is shown for information purposes only, as revenue streams from the operation are not projected to be realized until 2025. The coal resource mapping and estimation process, described in the report, was used as a basis for the coal reserve estimate. Proven and probable coal reserves were derived from the defined coal resource

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 51 considering relevant processing, economic (including technical estimates of capital, revenue, and cost), marketing, legal, environmental, socio-economic, and regulatory factors and are presented on a moist, recoverable basis. As is customary in the US, the categories for proven and probable coal reserves are based on the distances from valid points of measurement as determined by the QP for the area under consideration. For this evaluation, measured resource, which may convert to a proven reserve, is based on a ¼-mile radius from a valid point of observation. Points of observation include exploration drill holes and gas wells, approximately half of which have been vetted by the review of original, source information. The geologic model is based on seam depositional modeling, the interrelationship of overlying and underlying strata on seam mineability, seam thickness trends, the impact of seam structure (i.e., faulting), intra-seam characteristics, etc. Once the geologic model was completed, a statistical analysis, described in Section 11.1.1 was conducted and a ¼-mile radius from a valid point of observation was selected to define Measured Resources. Likewise, the distance between ¼ and ¾ of a mile radius was selected to define Indicated Resources. Indicated Resources may convert to Probable Reserves. There are no Inferred Resources (greater than a ¾-mile radius from a valid point of observation) within the mine plan, resources, or reserves. 12.2 Qualified Person’s Estimates The coal reserves, as shown in Table 12-1, are based on a technical evaluation of the geology and a bankable feasibility study of the coal deposits. The extent to which the coal reserves may be affected by any known environmental, permitting, legal, title, socio-economic, marketing, political, or other relevant issues has been reviewed rigorously. Similarly, the extent to which the estimates of coal reserves may be materially affected by mining, metallurgical, infrastructure and other relevant factors has also been considered. The results of this TRS define an estimated 63.3 Mt of proven and probable marketable coal reserves. Table 12-1: Coal Reserves Summary, Specific to Eastern Mining Areas A through D, (Marketable Sales Basis) as of December 31, 2021 Demonstrated Coal Reserves (Wet Tonnes, Washed or Direct Shipped, Mt) Quality (Dry Basis) By Reliability Category By Control Type Seam Proven Probable Total Owned Leased Option Ash% Sulfur% VM% Mary Lee 11.1 6.7 17.8 3.0 12.4 2.3 12.8 0.9 31 Blue Creek 30.4 15.1 45.5 7.7 32.8 5.0 8.4 0.6 32 Total 41.5 21.8 63.3 10.7 45.3 7.3 10.2 0.7 32 Note: Marketable reserve tonnes are reported on a moist basis, including a combination of surface and inherent moisture. The combination of surface and inherent moisture is modeled at 10-percent, comparable to Warrior Met’s current product moisture at its operating mines. Actual product moisture is dependent upon multiple geological factors, operational factors, and product contract specifications.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 52 12.3 Qualified Person’s Opinion The estimate of coal reserves was determined in accordance with SEC standards. The LOM mining plan for the Property was prepared to the level of preliminary feasibility. Mine projections were prepared with a timing schedule to match production with coal seam characteristics. Production timing was carried out from current locations to depletion of the coal reserve area. Coal reserve estimates could be materially affected by the risk factors described in Section 22.2. Based on the preliminary feasibility study and the attendant economic review, MM&A believes this is a fair and accurate estimation of Property’s coal reserves. 13 Mining Methods and Mine Plan Design 13.1 Geotechnical and Hydrologic Aspects of Mine Design 13.1.1 Horizontal Stress The orientation and magnitude of horizontal stress in the subject area has not been measured; however, consideration of published data from The World Stress Map Project and industry experience in the general region suggests that the orientation of the principal horizontal stress may be between approximately N50°E and N70°E. No significant horizontal stress issues are known to have been reported at Warrior Met’s Mine No. 4 and Mine No. 7. Future exploration activities may consider conducting horizontal stress-related measurements, potentially via overcoring to determine stress magnitude and direction or by using an Acoustic Televiewer (ATV) downhole geophysical probe to detect principal horizontal stress orientation. 13.1.2 Pillar Design Pillar design for the proposed mine has been evaluated considering design methodology successfully implemented at nearby mines, as well as with modern pillar design software. Deep mining in the subject region commonly implements a yield pillar design (herein referred to as the Wilson Method) as described in Carr and Wilson (1982) and Martin, et al. (1988). In addition, pillar design specific to the subject area is discussed in Park (1989). In addition to assessment via the Wilson Method, the proposed pillar designs were also evaluated using a software package known as Analysis of Coal Pillar Stability (ACPS), which includes a combination of methodologies initially developed as part of the National Institute for Occupational Safety & Health (NIOSH) Ground Control Toolbar. Pillar sizing and design for the proposed mining is consistent with that of Warrior Met’s two active mines that operate locally in similar geologic conditions. The proposed pillar dimensions are expected to be adequate for mine stability under typical mining conditions. Pillar stability assessment should be updated as additional geotechnical information is

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 53 collected for the project. Cut-depth, panel sequencing, face ventilation, and seal locations have not been specifically considered for the current pillar stability assessment. 13.1.3 Hydrogeology Hydrogeologic concerns are expected to be minimal within the majority of the proposed mine area, with the exception of areas near existing faults and overlain by large surface water features (see Section 7.4). Warrior Met currently operates two similar mines in the vicinity, using the same mining methods and in the same coal beds as the proposed mine. These two active mines have reportedly experienced minimal hydrologic concerns or material issues. Mining of the subject reserve is generally projected to occur in areas exhibiting similar hydrogeological conditions as Warrior Met’s active mines, including stream undermining, undermining of aquifers, and mining through hydraulically fractured coalbed methane wells. Based upon the history of the current operations with regards to hydrogeological matters, the proposed operation is not expected to be significantly affected by mine-wide hydrogeologic issues. 13.2 Production Rates Plans summarized in this TRS include a single longwall operation which is supported by continuous mining units. Warrior Met is considering an alternative plan which would include two longwall mining units. The mine plan and productivity expectations reflect historical performance and efforts have been made to adjust the plan to reflect future conditions. MM&A is confident that the mine plan is reasonably representative to provide an accurate estimation of coal reserves. Mine development and operation have not been optimized within the TRS. Rather, the plan is developed at the Pre-Feasibility level to gain a realistic estimate of potential operational and capital costs to demonstrate the economic viability of the subject reserves. Productivity for continuous mining sections and longwall units reflect typical rates incurred in the region. At steady state, the mine produces approximately 3.7 million clean tonnes per year. Carlson Mining software was used by MM&A to generate the mine plan for the underground mineable coal seams. The mine plan was sequenced based on productivity schedules provided by Warrior Met, which were based on historically achieved productivity levels. All production forecasting ties assumed production rates to geological models as constructed by MM&A’s team of geologists and mining engineers. 13.3 Mining Related Requirements Although the continuous miner sections are significantly more expensive to operate on a cost-per- tonne basis, they are necessary to open up areas of the mine by developing main entries and gate roads in preparation for the longwall. The LOM plan included in this TRS requires three continuous mining support sections for the majority of the duration of the operation.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 54 13.4 Required Equipment and Personnel The Blue Creek Project will be a sister operation to Warrior Met’s active operations, Mine No. 7 and Mine No. 4. The longwall shearing machines are used for extraction of coal at the production face. A chain conveyor is used to remove coal from the longwall face for discharge onto the conveyor belt which then ultimately delivers it to the skip system. Development for the longwalls is conducted by the extraction of coal from the production faces using continuous miners and haulage using shuttle cars to a feeder-breaker located at the tail of the section conveyor belt. The feeder-breaker crushes large pieces of coal and rock and regulates coal feed onto the mine conveyor. Roof-bolting machines are used to support the roof on the development sections of the longwall mine and battery scoops are available to clean the mine entries and assist in delivery of mine supplies to work areas. Other supplemental equipment such as personnel carriers, supply vehicles, etc., are also used daily. Mine conveyors typically range in width up to 6 feet. Multiple belt flights are arranged in series to deliver raw coal to the underground storage. Along the main and sub-main entries and panels, a travel way is provided for personnel and materials by rubber-tired equipment or on rail. The haulage slope conveyor will be used to transport ROM coal to the surface where the coal may be sampled, crushed and washed in the preparation plant and stockpiled to await shipment. Surface ventilation fans are installed as needed to provide a sufficient volume of air to ventilate production sections, coal haulage and transport entries, battery charging stations, and transformers in accordance with approved plans. High-voltage cables deliver power throughout the mine where transformers reduce voltage for specific equipment requirements. The Mine Improvement and New Emergency Response Act of 2006 (MINER Act) requires that carbon monoxide detection systems be installed along mine conveyor belts and that electronic two-way tracking and communications systems be installed throughout the underground mine. Water is required to control dust at production sections and along conveyor belts, and to cool electric motors. Water is available from nearby sources and is distributed within the mine by pipelines as required. At steady state, the mine is projected to employ approximately 375 employees. 14 Processing and Recovery Methods 14.1 Description or Flowsheet A new coal processing is being designed to handle the run-of-mine coal from proposed longwall operation. Current plans call for a processing plant with a capacity of 1,800 tons per hour (1,620 metric tonne per hour). Following initial sizing of the material, the coarse coal (2-inch by 1-mm) is to be cleaned using a dense media cyclone (DMC) with the overflow from the DMC being dried via clean coal centrifuges. The undersize material (sub 1-mm) will be divided at 100-mesh via classifying cyclones. The underflow material from the cyclones (greater than 100-mesh) is processed by either triple start compound spirals,

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 55 reflux classifiers, or fines dense media technology. The overflow stream from the classifying cyclones (smaller than 100-mesh) is to be treated using stack cell flotation technology. The flotation circuit will use a rougher-scavenger configuration, where the tailings from the first flotation unit are reprocessed by the following unit. The cleaned coal from the flotation and spiral units will be combined and dewatered using a screen bowl centrifuge (SBC). The underflow stream from the coarse dense media circuit and the reject material from the spirals are combined and treated as coarse refuse. The tailings stream from the flotation cells and various effluent circuits are combined and fed to a thickener. The thickener underflow is then pumped to an impoundment or combined with coarse refuse for long-term storage. 15 Infrastructure 15.1 Mine Ventilation The subject coal reserves will be accessed via a combination of vertical shafts and a slope. Ventilation to the Blue Creek mine workings will be provided through multiple shafts, utilizing an exhausting ventilation fan atop the main return shaft to power the airflow. The fresh-air intake shaft will be divided, housing a personnel/supply elevator to service the mine as well as provide intake air. Prior to longwall startup, a dedicated intake shaft will be developed on the initial mains to support longwall ventilation. In conjunction with the longwall mining plan, each longwall district will be ventilated using a dedicated bleeder shaft with its own exhausting fan. Additional main ventilation shafts will be needed as the mainline entries progress further from the slope bottom. 15.2 Methane Methane is not expected to adversely affect mine production and should be managed with attention to sound ventilation practices. Coalbed degasification and methane drainage are very mature practices in the BWB and many of the CBM wells began degasification 20 to 30 years ago. Therefore, it is expected that degasification has been completed to the extent that methane will not represent a significant source of production delays. CBM liberated during mining can create a safety hazard and interrupt production if the concentrations along the working face exceed safe limits. The mine ventilation system has been planned to deliver sufficient volume of air to ensure that the methane concentration in the immediate return of the production sections does not exceed 1 percent. Factors that may affect the concentration and liberation of methane gas during mining include depth of overburden cover, which generally exceeds 1,000 feet in the proposed mine area; geology and structural features such as faults; mine production rates; methane release characteristics of the coal seam; and previous CBM development (vertical and/or horizontal wells).

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 56 15.3 Materials Handling Transport of coal within the mine and to the surface via the planned slope will be done exclusively with belt conveyors. The Blue Creek conveyors are designed to accommodate constant, high volume longwall production. 15.4 Seam Access Access to the proposed mine will be provided by a combination of a slope and shafts. The decline slope will be for conveyor access, in order to transport ROM coal from the mine and multiple shafts will allow for transport of personnel, materials, and equipment as well as serve for ventilation purposes. Details pertaining to engineering design of slopes and shafts are retained in MM&A and Warrior Met’s files. 15.5 Surface Infrastructure 15.5.1 Preparation Plant & Materials Handling Infrastructure The Project includes surface facilities to be constructed at multiple locations in close proximity to the intersection of State Route 69 and Brandon School Road. The map below illustrates the locations of various site infrastructure. MM&A and Warrior Met maintain more detailed mapping and supporting information in their files. Figure 15-1: Approximate Location of Plant and Various Infrastructure

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 57 15.5.2 Clean Coal Transportation This TRS assumes that all clean coal is shipped to market via a barge loadout facility on the Black Warrior River, necessitating the construction an overland conveyor. The conveyor route follows an existing powerline right of way. The final location of the barge loadout has not been determined, and as such, Warrior Met is actively assessing a “wedge” from the termination of the right of way to the Black Warrior River. Preliminary sonar studies have indicated sufficient water depth for barge loadouts along the “wedge”. While still a critical item for project development, the barge facility will be permitted as a non-mining related industrial facility. Additionally, Warrior Met reports that it is considering an alternative transportation method via rail. Rail transportation would require the installation of a significant rail spur to an existing mainline railroad. Although this TRS assumes capital and operating costs associated with an overland conveyor and barge system, Warrior Met is still considering both methods of transportation. 15.5.3 Water Supply The Project’s water system is designed to deliver water to multiple end-use locations across the mine complex and maintain storage capacity in the freshwater impoundment. A freshwater pump in a proximal waterway will provide the majority of water for the operation, including firefighting water, plant make-up water and water for mining needs. Details pertaining to the design are retained in MM&A and Warrior Met’s files. 15.5.3.1 Potable Water Potable water will be needed at several surface locations such as the bathhouse, plant, and mine office. Additionally, potable water is required for emulsion hydraulic system for longwall equipment, preventing algae buildup in the hydraulic system. Public water is available locally through Oakman Water Works, Inc. (Oakman). Public sewer is not available in the area, requiring the construction of a sewage treatment facility to handle the raw sewage prior to discharge. Multiple systems may be required to service the preparation plant and the deep mine. Permitting actions through the Health Department and NPDES may be required. 15.5.4 Power Power for the Project will be sourced from Alabama Power’s 115kV transmission line that lies to the west of the Property. It is anticipated that the final power system will be similar to those employed at Warrior Met’s active operations. Capital associated with power systems has been included in the pre- feasibility level economic analysis.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 58 16 Market Studies 16.1 Market Description Drill hole data was utilized to develop average coal quality characteristics for Project. Detailed metallurgical characteristics are presented in Table 10-4. Yield projections are based upon a 10% dry ash product with sulfur percentages under 1%. All the mine production serves the metallurgical markets. The metallurgical coal could potentially be marketed as a high-volatile A (typically greater than 32 percent and less than 34 percent volatile matter content) product, however due to various other mine and market considerations, the Coal pricing in this PFS is based on Premium Low-Volatile Indices (PLV). 16.2 Price Forecasts Warrior Met provided MM&A with the PLV price forecasts through 2030. Pricing was held constant beyond that date. Warrior Met has recommended utilizing the PLV forecast to determine sales realizations for the Blue Creek Project. To develop the price received FOB the barge or rail car, transportation and loading were backed out of the FOB vessel price. The adjusted pricing is detailed in Table 16-1. Table 16-1: Adjusted Pricing LOM 2022 2023 2024 2025 2026 Price FOB Vessel $184.00 $267.00 $151.00 $152.00 $152.00 $157.00 Transportation $26.63 $0.00 $0.00 $0.00 $26.63 $26.63 Revenue FOB Rail or Barge $157.37 $0.00 $0.00 $0.00 $125.37 $130.37 2027 2028 2029 2030 2031 2032 Price FOB Vessel $173.00 $179.00 $182.00 $185.00 $185.00 $185.00 Transportation $26.63 $26.63 $26.63 $26.63 $26.63 $26.63 Revenue FOB Rail or Barge $146.37 $152.37 $155.37 $158.37 $158.37 $158.37 2033 2034 2035 2036 2037 2038 Price FOB Vessel $185.00 $185.00 $185.00 $185.00 $185.00 $185.00 Transportation $26.63 $26.63 $26.63 $26.63 $26.63 $26.63 Revenue FOB Rail or Barge $158.37 $158.37 $158.37 $158.37 $158.37 $158.37 2039 2040 2041 2042 2043 2044 Price FOB Vessel $185.00 $185.00 $185.00 $185.00 $185.00 $185.00 Transportation $26.63 $26.63 $26.63 $26.63 $26.63 $26.63 Revenue FOB Rail or Barge $158.37 $158.37 $158.37 $158.37 $158.37 $158.37 2045 2046 2047 2048 2049 2050 Price FOB Vessel $185.00 $185.00 $185.00 $185.00 $185.00 $185.00 Transportation $26.63 $26.63 $26.63 $26.63 $26.63 $26.63 Revenue FOB Rail or Barge $158.37 $158.37 $158.37 $158.37 $158.37 $158.37 2051 2052 2053 2054 2055 2056 Price FOB Vessel $185.00 $185.00 $185.00 $185.00 $185.00 $185.00 Transportation $26.63 $26.63 $0.00 $0.00 $0.00 $0.00 Revenue FOB Rail or Barge $158.37 $158.37 $0.00 $0.00 $0.00 $0.00

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 59 16.3 Contract Requirements Some contracts are necessary for successful marketing of the coal. For Blue Creek , since all mining, preparation and marketing is done in-house, the remaining contracts required include: > Transportation – The mine will contract with requisite railroad and barge transportation companies to transport the coal to either the domestic customers or to the Mobile export terminal for overseas shipment. > Handling – Contracts for loading vessels for export sales are necessary. These are typically handled by annual negotiations based on projected shipments. > Sales – Sales contracts are a mix of spot and contract sales. 17 Environmental Studies, Permitting and Plans, and Social and Community Impacts 17.1 Results of Studies The Project represents a greenfield site with minimal completed development work. Aside from baseline analysis pertaining to permitting, MM&A is not aware of existing environmental studies on the Property. MM&A did not undertake a review of permitting violation history for the active permits or an Environmental Site Assessment (ESA) of the properties. The property is located adjacent and proximal to multiple active longwall operations which are subject to the same regulatory environment as the proposed BC mine. 17.2 Requirements and Plans for Waste Disposal 17.2.1 Disposal Methods and Design Concepts Coal refuse from the preparation plant will be disposed on site at several locations over the life of the mine. Fine refuse will be handled in the form of slurry and pumped via pipeline to a slurry impoundment and/or integrated combined coarse/fine refuse facilities. The coarse refuse product will be used to construct the slurry impoundments as needed and will also be disposed of in standalone coarse refuse embankments. Coarse refuse will travel by conveyor belt to a central location and then by truck to its final destination as needed. Bulldozers and other mobile equipment will be used to spread and compact the material for the construction of the disposal structures. In order to minimize the number of slurry impoundments needed over the project life, coarse refuse embankments are planned in conjunction with slurry impoundments. The addition of these structures allows for excess coarse material to be placed outside of the impoundment areas when dam construction is not needed. Coarse refuse embankments are typically more cost effective to construct

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 60 and operate, due to the less stringent construction specifications associated with lower hazard potential. The refuse produced by the plant is expected to generate 4 tonnes of coarse refuse per tonne of fine refuse. Volumetrically, this equates to 2.33 cubic yards of coarse refuse produced to every cubic yard of slurry (on a dry, consolidated, design basis). In all, approximately 15% of the coarse refuse produced will be used in the construction of the impoundment dams, with the remaining 85% being placed in lower cost, less regulated, coarse refuse embankments. Warrior Met reports that it is also considering the option of combined coarse/fine refuse storage should slurry impoundments become prohibitive. 17.2.2 Life-of-Mine Storage Requirements For the life of the Project, it is estimated that the plant will generate 21,000 ac-ft of fine refuse and 79 million cubic yards of coarse refuse. These figures were derived from the MM&A’s production model using a coarse to fine ratio and refuse densities provided by Warrior Met. Such figures were reviewed by MM&A and deemed appropriate. These characteristics are also typical of Warrior Met’s active facilities that are mining and processing similar material as that expected at the Project. For refuse planning, the assumed ratio of coarse to fine refuse is 4 to 1 by weight and dry, compacted densities are 110 pounds per cubic foot (coarse refuse) and 64 pounds per cubic foot (fine refuse). At full production, the Project is expected to generate an average of 1.7 million cubic yards of coarse refuse and 450 acre-ft of slurry annually. 17.2.3 Storage Areas Warrior Met has identified 4 slurry impoundment sites and 2 separate coarse refuse sites for refuse disposal. MM&A has confirmed storage volumes for these sites. Total storage estimated within these areas is roughly 13,550 ac-ft for slurry and about 59-million cubic yards for coarse refuse. This represents approximately 31 years of slurry and 35 years of coarse refuse storage, or over half of the LOM needs of the Project. Preliminary design for these sites appears to be reasonable and it is expected that permit approvals can be obtained for these locations. More detailed design work will be needed, however general layouts and expected capacities should not result in significant change. Warrior Met reports that it is also considering integrated coarse/fine refuse storage. 17.2.4 Control of Proposed Storage Areas Warrior Met currently controls the surface property needed for three of the proposed refuse disposal areas and is in the process of permitting two of the sites. The areas currently controlled by Warrior Met for refuse disposal consist of two slurry impoundment sites and one coarse refuse site. An estimated 13 years of storage for both fine and coarse refuse is contained on these controlled sites. Warrior Met does control a majority of the surface property for the other sites as well. Property control for the remaining impoundment areas ranges from 60 to 80-percent. Timely property acquisitions will

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 61 need to be made to utilize these planned sites. MM&A has no reason to believe that that the remaining surface properties will not be acquired. 17.2.5 Refuse Permitting Currently, the initial refuse impoundment areas are not fully permitted for use. Permitting actions are currently underway for the initial slurry impoundment and coarse refuse area. These areas under permitting action will allow for 11 years and 4 years of coarse refuse and slurry storage respectively. It is reasonable to anticipate that these timeframes would be reduced if Warrior Met opts to utilize combined coarse/fine refuse storage. Permits and approval from several State and Federal agencies are required for operation. These Include: > United States Army Corps. Of Engineers: 404 Permit (for disturbing stream beds with fill material) > Alabama Surface Mining Commission: Article 3 environmental permit. > Mine Safety and Health Administration: Technical review for design and construction issues pertaining to slurry impoundments and coarse refuse embankments. Permitting of these facilities, slurry impoundments in particular, can be a difficult and time-consuming process, sometimes taking upwards of three or more years for regulatory review and approval. With an expected plant start date of July 2025, it is expected that approval for all required permits can be obtained within this time frame, allowing for any site preparation and preliminary construction needed. Considering the lengthy process of permitting slurry impoundments, considerable attention will be required to ensure that proper lead time is given to develop future impoundment facilities. At this time there are no extraordinary factors known that would impede design and permitting to an unusual extent for any of these areas. Warrior Met and MM&A maintain detailed mapping and supporting information related to refuse storage in their files. 17.3 Permit Requirements and Status Warrior Met (through its predecessor, Walter) has successfully obtained multiple permits for the proposed operations on the Property. Table 17-1 depicts the mine permits which are currently in place from: Alabama Surface Mining Commission (ALSMC); Alabama Department of Environmental Management (ADEM); United States Army Corps of Engineers (USACE); and MSHA. All of the currently approved permits have been renewed as needed and remain in good standing. The existing Surface Mine Control and Reclamation Act (SMCRA) permit will require a minor revision to accommodate revised surface infrastructure plans which have changed since the Project’s inception.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 62 Permits listed in Table 17-1 pertain to the proposed preparation plant and portal facilities. Additional permitting actions will be needed for the development and installation of the slurry Impoundment, coarse refuse facility, overland conveyor and barge loading facility. Table 17-1: Currently Active Permits Permit Agency Date Approved Status SMCRA (875-5007) Blue Creek Energy, Inc. Permit P-3964-63-17-U ALSMC 21-Jun-12 Approved/Issued, Submittal of Minor Revision Pending Blue Creek Energy, Inc. Permit ALSMC 27-Sep-12 Approved/Issued Added Power line and access roads P-3964-63-17-U Revision No. 1 Blue Creek Energy, Inc. Permit ALSMC 22-May-13 Approved/Issued Added power line, conveyor belt system, primary road P-3964-63-17-U Revision No. 2 Blue Creek Energy, Inc. (NPDES) Permit AL0081477 ADEM 1-May-12 Approved / Issued 404 Permit SAM-2011-01645 - CMS USACE 5-Jan-15 Jurisdictional Determination Approved / Issued 404 Permit SAM-2011-01645 - CMS USACE 12-Mar-12 Mitigation Approval 404 Permit SAM-2012-00668 - CMS USACE 21-Jun-12 Power line Approval – No stream impacts proposed. 404 Permit SAM-2012-01537 - CMS USACE 1-Jan-13 Nationwide 14 for overland beltline system associated with Revision No. 2 Additionally, Warrior Met will require permits related the coarse and fine refuse facilities, barge loadout, and overland conveyor. Regulatory agencies which will be involved with such permit activities include the USACE, ALSMC, MSHA and ADEM. The most time-consuming aspect of the required remaining permitting action is associated with the MSHA review of the Slurry Impoundment design. These structures are classified as High-Hazard dams and as such, receive thorough and lengthy technical reviews through MSHA’s Technical Support group in Pittsburg, Pennsylvania. Review approvals for these facilities can be expected to take two to three years. Early submittal is essential to receiving timely approvals for these critical structures. National Pollutant Discharge Elimination System (NDPES) discharge for the impoundment area is covered under the existing state mine permit. While the Coarse Refuse Facility will also require MSHA review and approval, these structures do not have the same complexity in design and can be approved rather quickly. The conveyor from the plant to the barge loading facility will share the ROW of the powerline in its entirety, permitting of the beltline will coincide with the powerline. Permits for the overland conveyor and the Barge Loading Facility pose minimal risk of delay to the Project if pursued diligently. The permitting process will need to begin in the near future to match the required construction timeline for these items. 17.4 Local Plans, Negotiations or Agreements MM&A found no indication of ancillary agreements beyond the scope of Federal or State Regulations.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 63 17.5 Mine Closure Plans Applicable regulations require that mines be properly closed, and reclamation commenced immediately upon abandonment. In general, site reclamation includes removal of structures, backfilling, regrading, and revegetation of disturbed areas. Sediment control is required during the establishment of vegetation, and bond release generally requires a minimum five-year period of site maintenance, water sampling, and sediment control following mine completion and rough grading. For most mines, unless special issues arise, reclamation and monitoring costs continue for about 7 years after cessation of production. Reclamation of underground mines includes closure and sealing of mine openings such as portals and shafts in addition to the items listed above. Estimated costs for mine closure for all the Blue Creek facilities, including water quality monitoring during site reclamation, are included in the financial model. As with all mining companies, an accretion calculation is performed annually so the necessary Asset Retirement Obligations (ARO) can be shown as a liability on the balance sheet. Costs have been included for closure of some existing facilities prior to exhaustion of the mine. As Bleeder shafts are determined to no longer be needed, they are sealed and as refuse disposal areas are filled and replaced, reclamation is done. The costs for this non-ARO reclamation work have been accrued for on a per tonne basis in the model. 17.6 Qualified Person’s Opinion Warrior Met’s environmental and permitting staff is strongly engaged in the project. As it continues to move forward within existing project timelines and schedules, it is anticipated that Warrior Met will remain on target to obtain all necessary permits. Estimated expenditures for site closure and reclamation are included in the financial model for this site. 18 Capital and Operating Costs 18.1 Capital Capital expenditures (CAPEX) are typically reviewed and compared to other projects using three measures: initial investment, LOM capital and LOM capital per ton (or tonne) of production. The initial investment for this project is defined as the capital necessary until the mine reaches full production. With the longwall starting in early 2027, CAPEX for the Project (current through 2027) as shown in Figure 18-1 totals $623.7 million.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 64 Figure 18-1: Initial Investment Capital ($000) Note: Capital figures are based upon MM&A’s best estimates and are supported by a combination of MM&A’s experience in comparable projects & comparable quotations. Such level is sufficient to meet the criteria of a pre-feasibility level financial assessment. LOM CAPEX totals $1.48 billion, inclusive of sustaining and replacement items. Underground mine capital is projected to include the purchase and rebuild of major equipment for both the continuous miner sections and the longwall. Major development capital items include the slope, shafts, bottom development, future air and access shafts, bleeder shafts and other purchases necessary to sustain production. A new 1,800 TPH (1,600 tonnes per hour) preparation plant, an overland conveyor, and barge loadout have also been included in the CAPEX. All equipment and infrastructure are assumed to be purchased new for this project. For the purpose of calculating tax liability, it is necessary to forecast Depreciation. Development Capital is assumed to have an average depreciable life of 8 years beginning once the mine starts production. Sustaining Capital has been assumed to have an average depreciable life of 5 years, beginning at purchase. For the life of the mine, the CAPEX Expenditures average to $15.55 per marketed tonne which is reasonable for a project of this magnitude. 18.2 Operating Cost MM&A used a combination of historical information from Warrior Met’s nearby existing operations and detailed operating cost estimates from a recent study of a property in the region. Hourly labor rates and salaries were based upon regional information and expectations. Fringe-benefit costs were developed for vacation and holidays, federal and state unemployment insurance, retirement, workers’

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 65 compensation and pneumoconiosis, casualty and life insurance, healthcare, and bonuses. A cost factor for mine supplies was developed that relates expenditures to mine advance rates for roof-control costs. Other mine-supply costs are typically related to factors such as feet of section advance, ROM tonnes mined, and days worked. Other factors were developed for maintenance and repair costs, rentals, mine power, outside services and other direct mining costs. Operating costs factors were also developed for the coal preparation plant processing, refuse handling, coal loading, property taxes, and insurance and bonding. Appropriate royalty rates were assigned for production from leased coal lands, and sales related taxes were calculated for state severance taxes, the federal black lung excise tax, and federal and state reclamation fees. Mandated sales related costs such as black lung excise tax are summarized in Table 18-1. Table 18-1: Estimated Coal Production Taxes and Sales Costs Description of Tax or Sales Cost Basis of Assessment Cost Federal Black Lung Excise Tax - Underground Per Tonne $1.21 Federal Reclamation Fees – Underground Per Tonne (Moisture Adjusted) $0.123 Alabama Severance Tax Per Tonne (Moisture Adjusted) $0.344 Royalties Percentage of Revenue (FOB Mine) 8% Note: 1. Federal black lung excise tax is paid only on coal sold domestically. MM&A assumed 15% of total coal sales to be domestic in the economic analysis discussed below. A summary of the projected operating costs is in Figure 18-2. Figure 18-2: OPEX *The LOM model and associated economic analysis is intended to prove the economic viability of the subject coal tonnage, allowing controlled tons to be classified as “reserve”. The development of costs incorporates a combination of Warrior Met’s historical performance and MM&A’s knowledge of mine productivity and cost structures for comparable operations.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 66 19 Economic Analysis 19.1 Assumptions, Parameters and Methods A pre-feasibility LOM plan was prepared by MM&A for the Blue Creek operation. MM&A prepared mine projections and production timing forecasts based on coal seam characteristics. Production timing was carried out to depletion (exhaustion) of the coal reserve areas, which is projected for the year 2052. All costs and prices are based on 2022 constant United States real dollars. The mine plan, productivity expectations and cost estimates generally reflect historical performance by Warrior Met and efforts have been made to adjust plans and costs to reflect conditions at Blue Creek. MM&A is confident that the mine plan and financial model are reasonably representative to provide an accurate estimation of coal reserves. A capital forecast was developed by MM&A for mine development, infrastructure, and on-going capital requirements for the life of the mine. Staffing levels were prepared, and operating costs estimated by MM&A. MM&A utilized historical cost data provided by Warrior Met and its own knowledge and experience to estimate direct and indirect operating costs. The preliminary feasibility financial model, prepared for this TRS, was developed to test the economic viability of the coal reserve areas. The results of this financial model are not intended to represent a bankable feasibility study, required for financing of any current or future mining operations, but are intended to prove the economic viability of the estimated coal reserves. All costs and prices are based on 2022 constant United States dollars. On an unlevered basis, the NPV of the real cash flows after taxes was estimated for the purpose of classifying coal reserves. The cash flows, excluding debt service, are calculated by subtracting direct and indirect operating expenses and capital expenditures from revenue. Direct costs include labor, operating supplies, maintenance and repairs, facilities costs for materials handling, coal preparation, refuse disposal, coal loading, sampling and analysis services, reclamation, and general and administrative costs. Indirect costs include statutory and legally agreed upon fees related to direct extraction of the mineral. The indirect costs are the federal black lung tax, federal reclamation taxes, property taxes, local transportation prior to delivery at rail or barge loading sites, coal production royalties, sales and use taxes, income taxes and State severance taxes. Warrior Met’s historical costs provided a useful reference for MM&A’s cost estimates. Sales revenue is based on the metallurgical coal price information provided to MM&A by Warrior Met, based on the PLV forecast. Projected debt service is excluded from the P&L and cash flow model to determine enterprise value.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 67 The financial model expresses coal sales prices, operating costs, and capital expenditures in current day dollars without adjustment for inflation. Capital expenditures and reclamation costs are included based on estimates for the mine by year. Warrior Met will pay royalties for the various current and projected operations. The royalty rates vary by mining method and location. The average royalty rate for Blue Creek is estimated to be 8.0% of the sales revenue FOB the mine after deduction of all transportation and loading costs between the mine and the vessel. The projection model also includes consolidated income tax calculations at the Warrior Met level, incorporating federal and state income taxes with an overall effective rate of 19%. To the extent the mine generates net operating losses for tax purposes, the losses are assumed to offset other corporate taxable income. The term “cash flows” is used in this report refers to after tax cash flows. Consolidated cash flows are driven by annual sales tonnage, which starts at 3.2 million tonnes in 2027, the first year of longwall production and averages 3.7 million tonnes per year from 2027 to 2051 the final full year of production. Projected consolidated revenue averages approximately $589.8 million per year during the period 2027 to 2051. Revenue totals $14.9 billion for the property’s life. Consolidated cash flow from the operation is positive throughout the projected operating period, with the exception of mine development years 2022 through 2026 and the post-production years, due to end-of-mine reclamation spending. Consolidated cash flow from the operation averages approximately $331.8 million per year from 2027 to 2051 and totals $8.3 billion over the mine life. Capital expenditures total $1.5 billion over the property’s life. 19.2 Results The pre-feasibility financial model, prepared by MM&A for this TRS, was developed to test the economic viability of each coal resource area. The results of this financial model are not intended to represent a bankable feasibility study, as may be required for financing of any current or future mining operations contemplated but are intended to prove the economic viability of the estimated coal reserves. Optimization of the LOM plan was outside the scope of the engagement. Table 19-1 shows LOM tonnage, P&L, and EBITDA for Blue Creek. Table 19-1: Life-of-Mine Tonnage, P&L before Tax, and EBITDA Tonnes (000) Pre-Tax P&L ($000) P&L per Tonne EBITDA ($000) EBITDA per Tonne Blue Creek 94,969 $8,527,427 $89.79 $9,962,324 $104.90 Note 1: The LOM model includes a portion of tonnage contained within adverse tracts which are not included in reserve estimates. Note 2: The LOM model and associated economic analysis is intended to prove the economic viability of the subject coal tonnage, allowing controlled tons to be classified as “reserve”. The exercise should not be construed to represent a valuation of Warrior Met’s holdings. Long term cash flows incorporate forward looking market projections which are expected to vary over time based upon historic volatility of coal markets. The development of costs incorporates a combination of Warrior Met’s historical performance and MM&A’s knowledge of mine productivity and cost structures for comparable operations.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 68 As shown in Table 19-1, Blue Creek has positive EBITDA over the LOM. Overall, the operation shows positive LOM P&L and EBITDA of $8.5 billion and $10.0 billion, respectively. Warrior Met’s Blue Creek annual production and revenue are shown in Figure 19-1 and the Mine’s after-tax cash flow summary in constant dollars, excluding debt service, is shown in Figure 19-2 below. Figure 19-1: Blue Creek Production and Revenue Note 1: The LOM model includes a portion of tonnage contained within adverse tracts which are not included in reserve estimates. Note 2: The LOM model and associated economic analysis is intended to prove the economic viability of the subject coal tonnage, allowing controlled tons to be classified as “reserve”. The exercise should not be construed to represent a valuation of Warrior Met’s holdings. Long term cash flows incorporate forward looking market projections which are expected to vary over time based upon historic volatility of coal markets. The development of costs incorporates a combination of Warrior Met’s historical performance and MM&A’s knowledge of mine productivity and cost structures for comparable operations.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 69 Figure 19-2: After-tax Cash Flow Summary (000) Note 1: The LOM model includes a portion of tonnage contained within adverse tracts which are not included in reserve estimates. Note 2: The LOM model and associated economic analysis is intended to prove the economic viability of the subject coal tonnage, allowing controlled tons to be classified as “reserve”. The exercise should not be construed to represent a valuation of Warrior Met’s holdings. Long term cash flows incorporate forward looking market projections which are expected to vary over time based upon historic volatility of coal markets. The development of costs incorporates a combination of Warrior Met’s historical performance and MM&A’s knowledge of mine productivity and cost structures for comparable operations. 19.3 Sensitivity Sensitivity of the NPV results to changes in the key drivers is presented in the chart below. The sensitivity study shows the NPV at the 9% discount rate when base case sales prices, operating costs, and capital costs are increased and decreased within a +/- 10% range.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 70 Figure 19-3: Sensitivity of NPV 19.4 Economic Analysis Summary This TRS, conducted in accordance with industry standards, is sufficient to conclude the Property has reasonable potential of obtaining long-term shareholder value given forecast market conditions approaching those used in the analysis. The plan appears to be reasonable, complete, and capable of being executed under competent management. 20 Adjacent Properties 20.1 Information used No Proprietary information associated with neighboring properties was used as part of this study. 21 Other Relevant Data and Information MM&A has performed various technical studies of the Property over the past decade. MM&A utilized this former work as the basis of an updated study which meets those standards set forth by the SEC. Additionally, MM&A has a longstanding history of various geological and mining based studies in the Black Warrior Basin, with specific projects conducted for Warrior Met in several operations adjacent to

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 71 the Property during due diligence activities. This experience was utilized in the development of this TRS. 22 Interpretation and Conclusions 22.1 Conclusion Sufficient data have been obtained through various exploration and sampling programs and mining operations to support the geological interpretations of seam structure and thickness for coal horizons situated on the Property. The data are of sufficient quantity and reliability to reasonably support the coal resource and coal reserve estimates in this TRS. The geological data and TRS, which consider mining plans, revenue, and operating and capital cost estimates are sufficient to support the classification of coal reserves provided herein. This geologic evaluation conducted conjunction with the feasibility study is sufficient to conclude that Warrior Met currently controls 63.3 million tonnes of marketable underground coal reserves identified on the Property. The LOM model includes 94.9 million tonnes, a portion of which are currently classified as mineral adverse and must be obtained to successfully engage in the venture. 22.2 Project Risk Assessment The MM&A projected team identified project risks for operational, technical and administrative subjects related to the development of the Blue Creek Project. A risk matrix has been constructed to present the risk levels for all the risk factors identified and quantified in the risk assessment process. The risk matrix and risk assessment process are modelled to the standards presented in the Australian and New Zealand Standard on Risk Management (AS/NZS 4360). The purpose of the risk assessment presented herein is to inform project stakeholders of key aspects of the Project that can be impacted by events, the consequences of which could affect the success of the venture. The significance of an impacted aspect of the operation is directly related to both the probability of occurrence and the severity of the consequences. The initial risk for a risk factor is herein defined as the risk level after the potential impact of the risk factor is addressed by competent and prudent management utilizing control measures readily available. Residual risk for a risk factor is herein defined as the risk level following application of special mitigation measures if management determines that the initial risk level is unacceptable. Initial risk and residual risk can be quantified numerically, derived by the product of values assigned to probability and consequence ranging from very low risk to very high risk. Risk aspects identified and evaluated during this assignment total 25. No residual risks are rated Very High; 5 risk aspects are rated High; 10 of the risk aspects are classified as Moderate residual risk, and 10 of the risk aspects were attributed Low and Very Low residual risks.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 72 22.2.1 Assumptions and Limitations Key assumptions in the risk assessment are outlined below. 1. The identification of project risks is not presumed to be exhaustive. Instead, that listing of risks is presented based on the experiences of the project team. 2. The probability and consequence ratings are subjectively assigned and are assumed to reasonably reflect the condition of the projected mine operations. 3. The Control Measures shown in the matrices presented in this chapter are not exhaustive. They represent a condensed collection of activities that the MM&A team has observed to be effective in coal mining scenarios. 4. Mitigation Measures listed for each risk factor of the operation are not exhaustive. The measures listed, however, have been observed to be effective. 5. The monetary values used in ranking the consequences are assumed to be appropriate for projected investment and expected size of the operation. The risk assessment is subject to the limitations of the information currently collected, tested, and interpreted at the effective date of the report. 22.2.2 Methodology The numerical quantities (i.e., risk levels) attributable to either “initial” or “residual” risks are derived by the product of values assigned to probability and consequence ranging from very low risk to very high risk. R = P x C Where: R = Risk Level P = Probability of Occurrence C = Consequence of Occurrence The Probability (P) and Consequence (C) parameters recited in the formula are subjective numerical estimates made by MM&A’s team of practiced mine engineers, geologists and managers. Both P and C are assigned integer values ranging from 1 to 5 for which the value 1 represents the lowest probability and least consequence, and the value 5 represents the highest probability and greatest consequence. The products (R = P x C) which define the Risk Level, are thereafter classified from very low to very high. Risk Level Table Risk Level (R) Very Low (1 to 2) Low (3 to 5) Moderate (6 to 11) High (12 to 19) Very High (20 to 25)

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 73 Very high initial risks are considered to be unacceptable and require corrective action well in advance of project development. In short, measures must be applied to reduce very high initial risks to a tolerable level. After the consideration and application of mitigation factors, the residual risk can be determined. The residual risk provides a basis for the management team to determine if the residual risk level is acceptable or tolerable. If the risk level is determined to be unacceptable, further actions should be considered to reduce the residual risk to acceptable or tolerable levels to provide justification for continuation of the proposed operation. 22.2.3 Development of the Risk Matrix 22.2.3.1 Quantification of Risk Likelihood and Severity of Impact Risks have been identified for the technical, operational, and administrative activities expected to be encountered throughout the development, installation, and operation of the Project. The likelihood of risk occurrence was developed and quantified according to Table 22-1. Table 22-1: Probability Levels of Risks and Corresponding Values Category Probability Level (P) 1 Remote Not likely to occur except in exceptional circumstances. <10% 2 Unlikely Not likely to occur; small in degree. 10 - 30% 3 Possible Capable of occurring. 30 - 60% 4 Likely High chance of occurring in most circumstances. 60 - 90% 5 Almost Certain Event is expected under most circumstances; impossible to avoid. >90% The lowest rated probability of occurrence is assigned the value of 1 and described as remote, with a likelihood of occurrence of less than 10 percent. Increasing values are assigned to each higher probability of occurrence, culminating with the value of 5 assigned to incidents considered to be almost certain to occur. Consequences of each risk were estimated and quantified by MM&A according to the following Table 22-2.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 74 Table 22-2: Consequence Level Table Correlation of Events in Key Elements of the Project Program to Event Severity Category Category Severity of the Event Financial Impact of the Event Unplanned Loss of Production (Impact on Commercial Operations) Events Impacting on the Environment Events Affecting the Program's Social and Community Relations Resultant Regulatory / Sovereign Risk Events Affecting Occupational Health & Safety 1 Insignificant < $1MM ≤ 12 hours Insignificant loss of habitat; no irreversible effects on water, soil and the environment. Occasional nuisance impact on travel. Event recurrence avoided by corrective action through established procedures (Engineering, guarding, training). 2 Minor $1MM to $4MM ≤ 1 day No significant change to species populations; short-term reversible perturbation to ecosystem function. Persistent nuisance impact on travel. Transient adverse media coverage. First aid – lost time. Event recurrence avoided by corrective action thought established procedures. 3 Moderate $4MM to $10MM ≤ 1 week Appreciable change to species population; medium-term (≤10 years) detriment to ecosystem function. Measurable impact on travel and water/air quality. Significant adverse media coverage / transient public outrage. Uncertainty securing or retaining essential approval / license. Medical Treatment – permanent incapacitation Avoiding event recurrence requires modification to established corrective action procedures. Change to regulations (tax; bonds; standards). 4 Major $10MM to $20MM 1 to 2 weeks Change to species population threatening viability; long-term (>10 years) detriment to ecosystem function. Long-term, serious impact on travel and use of water resources; degradation of air quality; sustained and effective public opposition. Suspension / long-delay in securing essential approval / license. Fatality. Avoiding event recurrence requires modification to established corrective action procedures and staff retraining. Change to laws (tax; bonds; standards). 5 Critical > $20MM >1 month Species extinction; irreversible damage to ecosystem function. Loss of permits. Withdraw / failure to secure essential approval / license. Multiple fatalities. Avoiding event recurrence requires major overhaul of policies and procedures.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 75 The lowest rated consequence is assigned the value of 1 and is described as Insignificant Consequence parameters include non-reportable safety incidents with zero days lost accidents, no environmental damage, loss of production or systems for less than one week and cost of less than $2-million. Increasing values are assigned to each higher consequence, culminating with the value of 5 assigned to critical consequences, the parameters of which include multiple-fatality accidents, major environmental damage, and loss of production or systems for longer than six months and cost of greater than $20-million. Composite Risk Matrix R = P x C and Color-Code Convention The risk level, defined as the product of probability of occurrence and consequence, ranges in value from 1 (lowest possible risk) to 25 (maximum risk level). The values are color-coded to facilitate identification of the highest risk aspects. Table 22-3: Risk Matrix P x C = R Consequence (C) Insignificant Minor Moderate Major Critical 1 2 3 4 5 Pr ob ab ili ty L ev el (P ) Remote 1 1 2 3 4 5 Unlikely 2 2 4 6 8 10 Possible 3 3 6 9 12 15 Likely 4 4 8 12 16 20 Almost Certain 5 5 10 15 20 25 22.2.4 Categorization of Risk Levels and Color Code Convention Very high risks are considered to be unacceptable and require corrective action. Risk reduction measures must be applied to reduce very high risks to a tolerable level. 22.2.5 Summary of Residual Risk Ratings Each risk factor is numbered, and a risk level for each is determined by multiplying the assigned probability by the assigned consequence. The risk levels are plotted on a risk matrix, Table 22-4, to provide a composite view of the Warrior Met risk profile. The average risk level is 7.1, which is defined as Moderate.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 76 Table 22-4: Residual Risk Assessment Matrix Co ns eq ue nc e Critical >$50 MM 8,9 Major $10-50MM 14 13 16 6 Moderate $2-10 MM 7 4, 15 1,3 11 Minor $0.5-$2 MM 2 12 5 Low <$0.5 MM 10 <10% 10-30% 30-60% 60-90% >90% Remote Unlikely Possible Likely Almost Certain 22.2.6 Risk Factors A high-level approach is utilized to characterize risk factors that are generally similar across a number of active and proposed mining operations in the region. Risk factors that are unique to a specific operation or are particularly noteworthy are addressed individually. 22.2.6.1 Geological and Coal Resource Coal mining is accompanied by risk that, despite exploration efforts, mining areas will be encountered where geological conditions render extraction of the resource to be uneconomic (such as faulting), or coal quality characteristics that may disqualify the product for sale into target markets. Offsetting the geological and coal resource risk are the massive size of the controlled property which allows large areas to be mined in the preferred mine areas sufficiently away from areas where coal quality and/or mineability may be less favorable. This flexibility, combined with the extensive work done to define the reserve, reduces the risk at BC below that of other mine properties.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 77 Table 22-5: Geological and Coal Resource Risk Assessment (Risks 1 and 2) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Recoverable coal tonnes recognized to be significantly less than previously estimated, including impacts of faulting. Impacts of faulting & associated geotechnical & hydrogeological result in project delays and operational challenges, including decreased productivity. Reserve base is adequate to serve market commitments and respond to opportunities for many years. Local adverse conditions may increase frequency and cost of production unit relocations. Potential cost overruns and project delays. Reduced productivity on CM and LW sections; increased roof control cost on CM sections and LW gateroads; Previous and ongoing exploration and extensive regional mining history provide a high level of confidence of coal seam correlation, continuity of the coal seams, and coal resource tonnes. Attempt to locate coal barriers and mains away from areas exhibiting poor mineabilty; conduct hazard mapping and training to reduce accident risk; conduct ongoing exploration to locate problem areas in ample time to allow adjustment to mine plan 4 4 16 Optimize mine plan to increase resource recovery; develop mine plan to provide readily available alternate mining locations to sustain expected production level. Continue to conduct significant drilling ahead of mining and project infrastructure installation. Assess geomechanical characteristics of roof and floor ahead of mine development, shaft & slope installation. 3 3 9 Coal quality locally proves to be lower than initially projected. If uncontrolled, production and sale of coal that is out of specification can result in rejection of deliveries, cancellation of coal sales agreements and damage to reputation. Exploration and vast experience and history in local coal seams provide confidence in coal quality; limited excursions can be managed with careful product segregation and blending. 2 3 6 Develop mine plan to provide readily available alternate mining locations to sustain expected production level; modify coal sales agreements to reflect coal quality. 1 2 2 22.2.6.1 Environmental Water quality and other permit requirements are subject to modification and such changes could have a material impact on the capability of the operator to meet modified standards or to receive new permits and modifications to existing permits. Permit protests may result in delays or denials to permit applications. Environmental standards and permit requirements have evolved significantly over the past 50 years and to-date, mining operators and regulatory bodies have been able to adapt successfully to evolving environmental requirements.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 78 Table 22-6: Environmental (Risks 3 and 4) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Environmental performance standards are modified in the future. Delays in receiving new permits and modifications to existing permits; cost of testing and treatment of water and soils Work with regulatory agencies to understand and influence final standards; implement testing, treatment and other actions to comply with new standards. 3 4 12 Modify mining and reclamation plans to improve compliance with new standards while reducing cost of compliance. 3 3 9 New permits and permit modifications are increasingly delayed or denied. Interruption of production and delayed implementation of replacement production from new mining areas. Comply quickly with testing, treatment and other actions required; continue excellent compliance performance within existing permits. 2 4 8 Establish and maintain close and constructive working relationships with regulatory agencies, local communities and community action groups. Prepare and submit permits well in advance of needs. Conduct additional drilling to lower risk associated with quality concerns in suspect areas. 2 3 6 22.2.6.2 Regulatory Requirements Federal and state health and safety regulatory agencies occasionally amend mine laws and regulations. The impact is industry wide. Mining operators and regulatory agencies have been able to adapt successfully to evolving health and safety requirements. Table 22-7: Regulatory Requirements (Risk 5) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Federal and state mine safety and health regulatory agencies amend mine laws and regulations. Cost of training, materials, supplies and equipment; modification of mine examination and production procedures; modification of mining plans. Participate in hearings and workshops when possible to facilitate understanding and implementation; work cooperatively with agencies and employees to facilitate implementation of new laws and regulations. 4 3 12 Familiarity and experience with new laws and regulations results in reduced impact to operations and productivity and improved supplies and equipment options. 4 2 8 22.2.6.3 Market and Transportation Most of the current and future production is expected to be directed to domestic and international metallurgical markets. Historically the metallurgical markets have been cyclical and highly volatile.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 79 Table 22-8: Market (Risk 6) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Volatile coal prices drop precipitously. Loss of revenue adversely affects profitability; reduced cash flow may disrupt capital expenditures plan. Cost control measures implemented; capital spending deferred. 4 5 20 High-cost operations closed, and employees temporarily furloughed. 4 4 16 Occasional delay or interruption of rail, river and terminals service may be expected. The operator can possibly minimize the impact of delays by being a preferred customer by fulfilling shipment obligations promptly and maintaining close working relationships. Multiple shipment means (rail and barge) helps minimize this risk. Table 22-9: Transportation (Risk 7) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Rail or river transport is delayed; storage and shipping access at river and ocean terminals is not available. Fulfillment of coal sales agreements delayed; limited coal storage at mines may increase cost of rehandling; production may be temporarily idled. Provide adequate storage capacity at mines; coordinate continuously with railroad and shipping companies to respond quickly and effectively to changing circumstances. 2 3 6 Provide back-up storage facility along with personnel, equipment and rehandle plan to sustain production and fulfill sales obligations timely. 1 3 3 22.2.6.4 Mining Plan Occupational health and safety risks are inherent in mining operations. Comprehensive training and retraining programs, internal safety audits and examinations, regular mine inspections, safety meetings, along with support of trained fire brigades and mine-rescue teams are among activities that greatly reduce accident risks. Employee health-monitoring programs coupled with dust and noise monitoring and abatement reduce health risks to miners. As underground mines are developed and extended, observation of geological, hydrogeological and geotechnical conditions lead to modification of mine plans and procedures to enable safe work within the mine environment. Highlighted below are selected examples of safety and external factors relevant to Warrior Met operations. 22.2.6.4.1 Methane Management Coalbed methane is present in coal operations below drainage. Often the methane concentration in shallow coal seams is at such low levels that it can be readily managed with frequent testing and

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 80 monitoring, vigilance, and routine mine ventilation. Very high methane concentrations may be present at greater depths, as experienced in the Mary Lee and Blue Creek seams at the BC Property in Alabama. High methane concentrations may require degasification of the coal seams to assure safe mining. Proximal mines have operated safely for many years in one of the most intense methane environments in the United States through careful management of coal seam degasification, gob degasification and mine-ventilation procedures. Table 22-10: Methane Management (Risk 8) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Methane hazard is present in mines operating below drainage. Injury or loss of life; possible ignition of gas and mine explosion; potential loss of mine and equipment temporarily or permanently; additional mine fan, mine power, ventilation, monitoring and examination requirements. Low to moderate levels can be managed with frequent examinations, testing and monitoring within the mine ventilation system. Excellent rock dust maintenance minimizes explosion propagation risk should an ignition occur. 2 5 10 Very high-level methane concentrations may require coal seam degasification and gob degasification if longwall or pillar extraction methods are employed. 1 5 5 22.2.6.4.2 Mine Fires Mine fires, once common at mine operations, are rare today. Most active coal miners have not encountered a mine fire. Vastly improved mine power and equipment electrical systems, along with safe mine practices, reduce mine fire risks. Crew training and fire brigade support and training improve response for containment and control if a fire occurs. Spontaneous combustion within coal mines, which is the source of most fires that occur today, is not expected to occur at BC. Table 22-11: Mine Fires (Risk 9) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Mine fire at underground or operation. Injury or loss of life; potential loss of mine temporarily or permanently; damage to equipment and mine infrastructure. Inspection and maintenance of mine power, equipment and mine infrastructure; good housekeeping; frequent examination of conveyor belt entries; prompt removal of accumulations of combustible materials. 1 5 5 If spontaneous combustion conditions are present, enhanced monitoring and examination procedures will be implemented; mine design will incorporate features to facilitate isolation, containment and extinguishment of spontaneous combustion locations. 1 5 5

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 81 22.2.6.4.3 Availability of Supplies and Equipment The industry has periodically experienced difficulty receiving timely delivery of mine supplies and equipment. Availability issues often accompanied boom periods for coal demand. Any future delivery of supplies and equipment delays are expected to be temporary with limited impact on production. Table 22-12: Availability of Supplies and Equipment (Risk 10) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Disruption of availability for supplies and equipment. Temporary interruption of production. Force majeure provision in coal sales agreements to limit liability for delayed or lost sales. 3 2 6 Work closely with customers to assure delayed coal delivery rather than cancelled sales; monitor external conditions and increase inventory of critical supplies; accelerate delivery of equipment when possible. 3 1 3 22.2.6.4.4 Labor Work stoppage due to labor protests are considered unlikely and are accompanied by limited impact should it occur. Excellent employee relations and communications limit the exposure to outside protesters. Loss of supervisors and skilled employees to retirement is inevitable; the impact can be lessened with succession planning and training and training and mentorship of new employees. Table 22-13: Labor – Work Stoppage (Risk 11) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Work stoppage due to strikes, slowdowns or secondary boycott activity. Loss of production and coal sales; damaged customer and employee relations; reputation loss. Maintain excellent employee relations and communications; maintain frequent customer communications. Train salary employees for hourly tasks in case of long-term strike. 4 4 16 Develop plan for employee communications and legal support to minimize impact of secondary boycott activities. 4 3 12

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 82 Table 22-14: Labor – Retirement (Risk 12) Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R Retirement of supervisors and skilled employees. Loss of leadership and critical skills to sustain high levels of safety, maintenance and productivity. Monitor demographics closely and maintain communications with employees who are approaching retirement age; maintain employee selection and training programs. 3 3 9 Maintain selection of candidates and implementation of in- house or third-party training for electricians and mechanics; develop employee mentoring program. 3 2 6 22.2.6.4.5 Project Execution Surface facilities construction commenced via a previous owner of the Property and permitting/engineering activity is actively underway by Warrior Met. The experienced and highly qualified executive management team improves the likelihood that the major construction project will be completed within the expected time frame and budget. As construction of the Blue Creek complex continues, the executive management team will be challenged to assemble an experienced and highly competent operations team to execute the mining plan to avoid production short-falls and cost overruns. Key will be establishing a reasonable development schedule and predicating coal sales commitments to management’s ability to select and train its workforce. The experience and capability of the executive team provides confidence that operational readiness will be forthcoming. Risks pertaining to project execution are summarized below. Table 22-15: Construction Delays and Cost Overruns (Risk 13) No. Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R 21 Project construction phase time and cost exceeds expectations. Excessive cost and time diminish project investment return; additional project financing may be required; coal sales commitments be delayed. Realistic budget and project construction schedule developed; continuous monitoring of cost and time to readily detect performance shortcomings and implement corrective actions; utilization of competent, highly reputable contractors and subcontractors. 3 4 12 Preparation of detailed schedule of each construction component; daily review of progress and issues; weekly coordination with all contractors and implementation of corrective actions if project falls behind schedule. 2 4 8

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 83 Table 22-16: Permitting Delays (Risk 14) No. Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R 22 Permitting delays (SMCRA, ACOE, MSHA, etc.) result in delays of construction and production. Lack of ample time to acquire state and federal permits delay production and require additional working capital. Initiate key permitting requirements immediately, including those related to barge development and refuse impoundments. 2 4 8 Incorporate contingencies into development schedule. 1 4 4 Table 22-17: Select, Isolated Parcels of Uncontrolled Mineral (non-BLM lease) within Mine Plan (Risk 15) No. Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R 10 Select, Isolated Parcels of Uncontrolled Mineral within Mine Plan prohibit execution of mine plan. These parcels are associated with private (non- governmental) entities and individuals. Payment of extortionary terms to secure mining rights; adjustment of mine plan to avoid adverse tracts. Company has secured vast majority of land titles for development and mining of initial panels; continue efforts to secure timely title acquisition; mine plan defers production on adverse tracts to allow time to secure at reasonable cost. 5 2 10 As last resort, pay above-market price to secure mining right or adjust mine plan to avoid adverse tracts. 2 3 6 Table 22-18: Select, Isolated Parcels of Uncontrolled Mineral (BLM lease) within Mine Plan (Risk 16) No. Aspect Impact Control Measures Initial Risk Level Mitigation Measures Residual Risk Level P C R P C R 11 Select, Isolated Parcels of Uncontrolled Mineral within Mine Plan prohibit execution of mine plan. These parcels are affiliated with Federal Bureau of Land Management (BLM) leases. Adjustment of mine plan to avoid adverse tracts. Of important note, various presidential candidates have stated desire to limit leasing of federally owned mineral rights in an effort to reduce fossil fuel and natural resource production. Company is actively pursuing BLM leases. Such activity should be prioritized to ensure that ample time to secure leases is available. 3 5 15 Develop mine plan to eliminate requirement for BLM leases as last resort. 3 4 12

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 84 23 Recommendations Warrior Met is continuing to conduct ongoing geological campaigns to better define coal thickness and structure within the initial mine plan areas. As part of this campaign, significant efforts are being placed in defining fault networks proximal to the slope bottom and initial longwall districts. MM&A recommends continuing efforts in this regard. During this campaign, MM&A also recommends analyzing roof and floor samples for various geomechanically factors. MM&A recommends expediting the BLM lease acquisition process, as multiple key leases need to be obtained to execute the mine plan. 24 References 1. Various sources of geological information, including a digital exploration database, coal quality laboratory information, drillers’ and geologists’ logs, and geophysical logs. 2. Various engineering, permitting and mine plans as presented to MM&A by Warrior Met. 3. Various previous engineering and reserve reports conducted on behalf of Warrior Met by MM&A. 4. Publicly available information from various State and Federal agencies 5. Various mapping information obtained via the public domain. 25 Reliance on Information Provided by Registrant For the purpose of this TRS, MM&A utilized the Geological and Coal Quality data provided by Warrior Met. This information was subjected to verification of its integrity and completeness. Historical productivity and operating costs were also supplied by Warrior Met. This information was combined with the experience and knowledge of the QP’s to forecast the LOM plan. Warrior Met supplied a long-term price forecast based on published benchmark pricing. This benchmark pricing was adjusted by Warrior Met to reflect the effects of quality and transportation borne after FOB plant costs were calculated. A summary of the information provided by Warrior Met relied upon by MM&A for the purposes of this TRS is provided in Table 25-1.

Warrior Met Coal, Inc. Blue Creek Property Year End 2021 Reserve Analysis Technical Report Summary MARSHALL MILLER & ASSOCIATES, INC. 85 Table 25-1: Information from Registrant Relied Upon by MM&A Category Information Provided by Warrior Met Report Section Legal Mineral control and surface control rights as shown on maps 3.2, 3.3 Geological Geologic data including digital databases and original source data including geologist logs, driller’s logs, geophysical logs 9.1 Coal Quality Database of coal quality information supplemented with original source laboratory sheets where available 10.1 Mining Historical productivities and manpower from operating mines 13.2, 13.4 Coal Preparation Flow sheet and other information representing current and future methods of coal processing 14.1 Marketing Long-term price forecast used in financial projections and relevant transportation costs 16.2 Waste Disposal Engineering data and estimates representing remaining capacities for coarse and fine coal waste disposal 17.2 Environmental Permit and bonding information 17.3 Costs Historical and budgetary operating cost information used to derive cost drivers for reserve financial modeling 18.2 Discount Rate 9% Discount Rate for NPV Derivation Provided by Warrior Met 19.1, 19.2, 19.3

APPENDIX A RESERVE TABLE

Warrior Met Coal, LLC Blue Creek Area Underground Mineable Reserves as of December 31, 2021 Appendix A - Table 1 (Metric Tonnes) Moisture 10% Washed recoverable tons shown on 10.0% moisture basis Preparation Plant Efficiency 100% Included in Wash Recovery* Tons/ Wash Resource Thickness Resource Acres In Place Tonnes Clean, Moist, Demonstrated Tonnes Seam Acre-ft. Recovery* Measured Indicated Measured Indicated Total Measured Indicated Total Proven Probable Total BC Area Block A Leased Continuous Mining ML 1,938 84.40% 531,390 290,830 822,220 Longwall Mining ML 1,938 84.40% 3,592,520 1,779,520 5,372,040 Continuous Mining BC 1,851 87.60% 1,646,530 833,760 2,480,290 Longwall Mining BC 1,851 87.60% 11,409,390 5,244,820 16,654,210 Total 3.81 3.56 5,047 2,569 7,616 25,859,140 12,593,900 38,453,040 17,179,830 8,148,930 25,328,760 Owned Continuous Mining ML 1,938 84.40% 45,750 0 45,750 Longwall Mining ML 1,938 84.40% 254,580 0 254,580 Continuous Mining BC 1,851 87.60% 149,460 0 149,460 Longwall Mining BC 1,851 87.60% 879,280 0 879,280 Total 4.19 0.00 396 0 396 2,185,660 0 2,185,660 1,329,070 0 1,329,070 Option Continuous Mining ML 1,938 84.40% 24,740 8,310 33,050 Longwall Mining ML 1,938 84.40% 182,170 35,640 217,810 Continuous Mining BC 1,851 87.60% 78,620 22,390 101,010 Longwall Mining BC 1,851 87.60% 580,990 108,480 689,470 Total 4.18 3.56 272 53 324 1,521,180 258,570 1,779,750 866,520 174,820 1,041,340 Adverse Continuous Mining ML 1,938 84.40% 132,300 244,940 377,240 Longwall Mining ML 1,938 84.40% 1,033,430 1,564,680 2,598,110 Continuous Mining BC 1,851 87.60% 310,860 528,400 839,260 Longwall Mining BC 1,851 87.60% 2,722,980 3,643,610 6,366,590 Total 3.26 2.77 1,217 2,126 3,344 5,678,470 8,791,770 14,470,240 4,199,570 5,981,630 10,181,200 Total Continuous Mining - ML_Only 601,880 299,140 901,020 Longwall Mining - ML_Only 4,029,270 1,815,160 5,844,430 Continuous Mining - BC_Only 1,874,610 856,150 2,730,760 Longwall Mining - BC_Only 12,869,660 5,353,300 18,222,960 Total 5,714 2,622 8,336 29,565,980 12,852,470 42,418,450 19,375,420 8,323,750 27,699,170 Owned 396 0 396 2,185,660 0 2,185,660 1,329,070 0 1,329,070 Leased 5,047 2,569 7,616 25,859,140 12,593,900 38,453,040 17,179,830 8,148,930 25,328,760 Option 272 53 324 1,521,180 258,570 1,779,750 866,520 174,820 1,041,340 Total 5,714 2,622 8,336 29,565,980 12,852,470 42,418,450 19,375,420 8,323,750 27,699,170 1,311 4,168 22,274,300 9,469,240 31,743,540 1,311 4,168 7,291,680 3,383,230 10,674,910 2,857 1,669,860 5.03 2,857 515,800 0 515,800 5.03 0.00 198 0 198 1,669,860 0 1.48 0.00 198 0 198 1.57 1.48 136 26 162 373,930 68,310 442,240 1,337,5104.31 136 26 162 1,147,250 190,260 2,778,790 4,414,460 3.96 3.37 609 1,063 1,672 4,042,800 6,012,980 10,055,780 1.53 1.49 609 1,063 1,672 1,635,670 3,314,920 9,716,870 4.59 4.30 2,523 1,285 3,808 19,457,190 9,278,980 28,736,170 1.44 1.47 2,523 1,285 3,808 6,401,950 WARM118 BCE Table (2022-02-04).xlsx • Metric Tonnes • 2/22/2022 Page 1 of 6

Warrior Met Coal, LLC Blue Creek Area Underground Mineable Reserves as of December 31, 2021 Appendix A - Table 1 (Metric Tonnes) Moisture 10% Washed recoverable tons shown on 10.0% moisture basis Preparation Plant Efficiency 100% Included in Wash Recovery* Tons/ Wash Resource Thickness Resource Acres In Place Tonnes Clean, Moist, Demonstrated Tonnes Seam Acre-ft. Recovery* Measured Indicated Measured Indicated Total Measured Indicated Total Proven Probable Total Block B Leased Continuous Mining ML 1,938 84.40% 182,310 85,320 267,630 Longwall Mining ML 1,938 84.40% 1,270,060 808,170 2,078,230 Continuous Mining BC 1,851 87.60% 413,730 151,650 565,380 Longwall Mining BC 1,851 87.60% 3,006,130 1,518,700 4,524,830 Total 3.55 2.91 1,371 816 2,187 7,163,970 3,746,260 10,910,230 4,872,230 2,563,840 7,436,070 Owned Continuous Mining ML 1,938 84.40% 92,110 24,510 116,620 Longwall Mining ML 1,938 84.40% 141,460 152,370 293,830 Continuous Mining BC 1,851 87.60% 237,010 58,890 295,900 Longwall Mining BC 1,851 87.60% 311,300 368,190 679,490 Total 3.47 3.66 395 208 603 2,002,650 1,108,730 3,111,380 781,880 603,960 1,385,840 Option Continuous Mining ML 1,938 84.40% 87,150 53,470 140,620 Longwall Mining ML 1,938 84.40% 754,980 594,560 1,349,540 Continuous Mining BC 1,851 87.60% 206,600 95,100 301,700 Longwall Mining BC 1,851 87.60% 1,716,730 1,107,230 2,823,960 Total 3.51 2.89 727 546 1,273 3,787,540 2,486,960 6,274,500 2,765,460 1,850,360 4,615,820 Adverse Continuous Mining ML 1,938 84.40% 170,050 73,180 243,230 Longwall Mining ML 1,938 84.40% 1,159,500 488,090 1,647,590 Continuous Mining BC 1,851 87.60% 363,840 132,030 495,870 Longwall Mining BC 1,851 87.60% 2,611,620 1,037,070 3,648,690 Total 3.35 3.19 1,322 537 1,859 6,621,550 2,636,450 9,258,000 4,305,010 1,730,370 6,035,380 Total Continuous Mining - ML_Only 361,570 163,300 524,870 Longwall Mining - ML_Only 2,166,500 1,555,100 3,721,600 Continuous Mining - BC_Only 857,340 305,640 1,162,980 Longwall Mining - BC_Only 5,034,160 2,994,120 8,028,280 Total 2,493 1,570 4,064 12,954,160 7,341,950 20,296,110 8,419,570 5,018,160 13,437,730 Owned 395 208 603 2,002,650 1,108,730 3,111,380 781,880 603,960 1,385,840 Leased 1,371 816 2,187 7,163,970 3,746,260 10,910,230 4,872,230 2,563,840 7,436,070 Option 727 546 1,273 3,787,540 2,486,960 6,274,500 2,765,460 1,850,360 4,615,820 Total 2,493 1,570 4,064 12,954,160 7,341,950 20,296,110 8,419,570 5,018,160 13,437,730 937,210 1,397,980 901,950 3,002,860 1,359,720 3,562,030 198 104 302 604,670 332,540 1.85 1.87 364 273 637 1,180,730 897,470 2,078,200 1.74 776,190 2,174,1704.21 4.44 198 104 302 1,589,490 4,196,3004.27 3.47 364 273 637 2,606,810 1.82 2,589,730 6,577,4401,247 785 2,032 3,987,710 1,247 785 2,032 8,966,450 4,752,220 13,718,670 4.07 3.85 661 268 929 4,520,640 1,734,500 6,255,140 1.81 1.91 661 268 929 2,100,910 4.31 3.48 686 408 1,094 4,961,660 2,386,540 7,348,200 1.83 1.90 686 408 1,094 2,202,310 WARM118 BCE Table (2022-02-04).xlsx • Metric Tonnes • 2/22/2022 Page 2 of 6

Warrior Met Coal, LLC Blue Creek Area Underground Mineable Reserves as of December 31, 2021 Appendix A - Table 1 (Metric Tonnes) Moisture 10% Washed recoverable tons shown on 10.0% moisture basis Preparation Plant Efficiency 100% Included in Wash Recovery* Tons/ Wash Resource Thickness Resource Acres In Place Tonnes Clean, Moist, Demonstrated Tonnes Seam Acre-ft. Recovery* Measured Indicated Measured Indicated Total Measured Indicated Total Proven Probable Total Block C Leased Continuous Mining ML 1,938 84.40% 53,050 167,430 220,480 Longwall Mining ML 1,938 84.40% 438,760 1,415,660 1,854,420 Continuous Mining BC 1,851 87.60% 83,240 242,960 326,200 Longwall Mining BC 1,851 87.60% 682,180 2,164,410 2,846,590 Total 2.72 2.71 428 1,275 1,703 1,890,240 5,688,610 7,578,850 1,257,230 3,990,460 5,247,690 Owned Continuous Mining ML 1,938 84.40% 107,220 5,930 113,150 Longwall Mining ML 1,938 84.40% 341,180 93,020 434,200 Continuous Mining BC 1,851 87.60% 222,210 13,630 235,840 Longwall Mining BC 1,851 87.60% 747,870 207,050 954,920 Total 3.34 3.43 610 89 699 3,084,530 455,740 3,540,270 1,418,480 319,630 1,738,110 Option Continuous Mining ML 1,938 84.40% 85,560 8,640 94,200 Longwall Mining ML 1,938 84.40% 450,400 43,220 493,620 Continuous Mining BC 1,851 87.60% 158,560 14,640 173,200 Longwall Mining BC 1,851 87.60% 830,040 79,030 909,070 Total 3.02 2.71 552 48 600 2,624,010 207,840 2,831,850 1,524,560 145,530 1,670,090 Adverse Continuous Mining ML 1,938 84.40% 210,080 503,690 713,770 Longwall Mining ML 1,938 84.40% 1,017,120 3,333,640 4,350,760 Continuous Mining BC 1,851 87.60% 387,370 693,270 1,080,640 Longwall Mining BC 1,851 87.60% 1,912,910 5,106,090 7,019,000 Total 3.10 2.57 1,265 3,277 4,542 6,127,180 13,933,200 20,060,380 3,527,480 9,636,690 13,164,170 Total Continuous Mining - ML_Only 245,830 182,000 427,830 Longwall Mining - ML_Only 1,230,340 1,551,900 2,782,240 Continuous Mining - BC_Only 464,010 271,230 735,240 Longwall Mining - BC_Only 2,260,090 2,450,490 4,710,580 Total 1,590 1,412 3,002 7,598,780 6,352,190 13,950,970 4,200,270 4,455,620 8,655,890 Owned 610 89 699 3,084,530 455,740 3,540,270 1,418,480 319,630 1,738,110 Leased 428 1,275 1,703 1,890,240 5,688,610 7,578,850 1,257,230 3,990,460 5,247,690 Option 552 48 600 2,624,010 207,840 2,831,850 1,524,560 145,530 1,670,090 Total 1,590 1,412 3,002 7,598,780 6,352,190 13,950,970 4,200,270 4,455,620 8,655,890 1,501 4,905,250 3,816,310 8,721,560 706 1,501 2,386,1704.16 305 45 350 2,075,040 311,130 131,170 1.88 1.85 305 45 350 1,009,490 144,610 1,154,100 3.63 3.24 276 24 300 1,680,250 1.95 1.81 276 24 300 943,760 76,670 1,020,430 4.05 795 5,749,550 7,917,780 2,314,600 3,054,880 1,811,420 2,693,530 2,535,880 5,229,410 795 706 3.73 2.97 633 1,639 2,271 3,958,950 8,183,650 12,142,600 1.95 2.00 633 1,639 2,271 2,168,230 3.20 3.15 214 638 852 1,149,960 3,374,010 4,523,970 1.97 2.06 214 638 852 740,280 WARM118 BCE Table (2022-02-04).xlsx • Metric Tonnes • 2/22/2022 Page 3 of 6

Warrior Met Coal, LLC Blue Creek Area Underground Mineable Reserves as of December 31, 2021 Appendix A - Table 1 (Metric Tonnes) Moisture 10% Washed recoverable tons shown on 10.0% moisture basis Preparation Plant Efficiency 100% Included in Wash Recovery* Tons/ Wash Resource Thickness Resource Acres In Place Tonnes Clean, Moist, Demonstrated Tonnes Seam Acre-ft. Recovery* Measured Indicated Measured Indicated Total Measured Indicated Total Proven Probable Total Block D Leased Continuous Mining ML 1,938 84.40% 180,450 135,620 316,070 Longwall Mining ML 1,938 84.40% 891,080 612,640 1,503,720 Continuous Mining BC 1,851 87.60% 579,920 366,230 946,150 Longwall Mining BC 1,851 87.60% 2,852,470 1,629,800 4,482,270 Total 3.80 3.32 1,954 1,145 3,099 9,913,590 5,291,800 15,205,390 4,503,920 2,744,290 7,248,210 Owned Continuous Mining ML 1,938 84.40% 234,580 34,250 268,830 Longwall Mining ML 1,938 84.40% 1,159,610 302,110 1,461,720 Continuous Mining BC 1,851 87.60% 614,660 87,540 702,200 Longwall Mining BC 1,851 87.60% 3,010,630 807,850 3,818,480 Total 3.47 3.30 1,714 415 2,130 8,453,730 1,968,260 10,421,990 5,019,480 1,231,750 6,251,230 Option Continuous Mining ML 1,938 84.40% 0 0 0 Longwall Mining ML 1,938 84.40% 0 0 0 Continuous Mining BC 1,851 87.60% 0 0 0 Longwall Mining BC 1,851 87.60% 0 0 0 Total 0.00 0.00 0 0 0 0 0 0 0 0 0 Adverse Continuous Mining ML 1,938 84.40% 44,540 125,700 170,240 Longwall Mining ML 1,938 84.40% 274,990 282,460 557,450 Continuous Mining BC 1,851 87.60% 91,820 227,880 319,700 Longwall Mining BC 1,851 87.60% 629,300 619,770 1,249,070 Total 2.98 2.62 325 604 929 1,449,180 2,446,510 3,895,690 1,040,650 1,255,810 2,296,460 Total Continuous Mining - ML_Only 415,030 169,870 584,900 Longwall Mining - ML_Only 2,050,690 914,750 2,965,440 Continuous Mining - BC_Only 1,194,580 453,770 1,648,350 Longwall Mining - BC_Only 5,863,100 2,437,650 8,300,750 Total 3,668 1,560 5,228 18,367,320 7,260,060 25,627,380 9,523,400 3,976,040 13,499,440 Owned 1,714 415 2,130 8,453,730 1,968,260 10,421,990 5,019,480 1,231,750 6,251,230 Leased 1,954 1,145 3,099 9,913,590 5,291,800 15,205,390 4,503,920 2,744,290 7,248,210 Option 0 0 0 0 0 0 0 0 0 Total 3,668 1,560 5,228 18,367,320 7,260,060 25,627,380 9,523,400 3,976,040 13,499,440 18,823,170 1,834 780 2,614 4,804,160 2,000,050 6,804,210 208 1,065 6,064,190 1,301,260 4.21 4.01 1.57 857 208 1,065 2,389,540 1,834 780 2,614 13,563,160 5,260,010 571,360 840,020 0.00 0.00 0 0 0 0 0.00 0.00 0 0 0 0 0 0 1.59 857 2,960,900 0 0 1,396,900 7,461,090 1,428,690 3,843,310 3.62 3.17 163 302 465 987,940 1,606,490 2,594,430 1.61 1.58 163 302 465 461,240 4.57 4.02 977 573 1,549 7,498,970 3,863,110 11,362,080 1.41 1.42 977 573 1,549 2,414,620 WARM118 BCE Table (2022-02-04).xlsx • Metric Tonnes • 2/22/2022 Page 4 of 6

Warrior Met Coal, LLC Blue Creek Area Underground Mineable Reserves as of December 31, 2021 Appendix A - Table 1 (Metric Tonnes) Moisture 10% Washed recoverable tons shown on 10.0% moisture basis Preparation Plant Efficiency 100% Included in Wash Recovery* Tons/ Wash Resource Thickness Resource Acres In Place Tonnes Clean, Moist, Demonstrated Tonnes Seam Acre-ft. Recovery* Measured Indicated Measured Indicated Total Measured Indicated Total Proven Probable Total Block E Leased Continuous Mining ML 1,958 0.00% 0 0 0 Longwall Mining ML 1,958 0.00% 0 0 0 Continuous Mining BC 1,963 0.00% 0 0 0 Longwall Mining BC 1,963 0.00% 0 0 0 Total 0.00 2.24 0 12,322 12,322 0 44,704,640 44,704,640 0 0 0 Owned Continuous Mining ML 1,958 0.00% 0 0 0 Longwall Mining ML 1,958 0.00% 0 0 0 Continuous Mining BC 1,963 0.00% 0 0 0 Longwall Mining BC 1,963 0.00% 0 0 0 Total 0.00 2.11 0 59 59 0 178,700 178,700 0 0 0 Option Continuous Mining ML 1,958 0.00% 0 0 0 Longwall Mining ML 1,958 0.00% 0 0 0 Continuous Mining BC 1,963 0.00% 0 0 0 Longwall Mining BC 1,963 0.00% 0 0 0 Total 0.00 0.00 0 0 0 0 0 0 0 0 0 Adverse Continuous Mining ML 1,958 0.00% 0 0 0 Longwall Mining ML 1,958 0.00% 0 0 0 Continuous Mining BC 1,963 0.00% 0 0 0 Longwall Mining BC 1,963 0.00% 0 0 0 Total 0.00 2.21 0 11,206 11,206 0 38,806,550 38,806,550 0 0 0 Total Continuous Mining - ML_Only 0 0 0 Longwall Mining - ML_Only 0 0 0 Continuous Mining - BC_Only 0 0 0 Longwall Mining - BC_Only 0 0 0 Total 0 12,382 12,382 0 44,883,340 44,883,340 0 0 0 Owned 0 59 59 0 178,700 178,700 0 0 0 Leased 0 12,322 12,322 0 44,704,640 44,704,640 0 0 0 Option 0 0 0 0 0 0 0 0 0 Total 0 12,382 12,382 0 44,883,340 44,883,340 0 0 0 26,588,710 26,588,710 0 6,191 6,191 0 29,542,230 29,542,230 0 6,191 6,191 0 15,341,110 15,341,110 44,910 44,910 0.00 2.53 0 30 30 0 133,790 133,790 0.00 0.85 0 30 30 0 0.00 0.00 0 0 0 0 0 0 0.00 0.00 0 0 0 0 00 0.00 2.66 0 5,603 5,603 0 29,408,440 29,408,440 0.00 1.23 0 5,603 5,603 0 12,217,840 12,217,840 0.00 2.68 0 6,161 6,161 0 0.00 1.40 0 6,161 6,161 0 15,296,200 15,296,200 WARM118 BCE Table (2022-02-04).xlsx • Metric Tonnes • 2/22/2022 Page 5 of 6

APPENDIX B MARKET MEMORANDUM PROVIDED BY WARRIOR MET

Warrior Met Coal, Inc. Appendix B: Market Projections Provided by Warrior Met Key price expectations (nominal US dollars) Price Description Basis 2022 2023 2024 2025 2026 2027 2028 2029 2030 MCC1 Low vol PHCC FOB Australia 281 159 160 160 165 182 188 192 195 Note: This modeling is based on Chinese restrictions on Australian coal continuing through the end of 2022; an earlier or later end will meaningfully change our outlook, with higher CFR and lower FOB prices. PHCC = Prime hard coking coal, HCC = Hard coking coal; PCI = Pulverized coal injection; SSCC = Semi-soft coking coal; quarterly prices are quarter averages, including current quarter. Report Appendix Markets from WMC.xlsx • 2/18/2022 Page 1 of 1


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	HCC	New York Stock Exchange
Rights to Purchase Series A Junior Participating Preferred Stock, par value $0.01 per share	--	New York Stock Exchange


Forward-Looking Statements		1
Glossary of Selected Terms		3
Part I
Item 1.	Business	6
Item 1A.	Risk Factors	19
Item 1B.	Unresolved Staff Comments	50
Item 2.	Properties	51
Item 3.	Legal Proceedings	62
Item 4.	Mine Safety Disclosures	62
Part II
Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.	63
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	65
Item 7A.	Quantitative and Qualitative Disclosures About Market Risk	85
Item 8.	Financial Statements and Supplementary Data	85
Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	86
Item 9A.	Controls and Procedures	86
Item 9B.	Other Information	86
Part III
Item 10.	Directors, Executive Officers and Corporate Governance	87
Item 11.	Executive Compensation	87
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	87
Item 13.	Certain Relationships and Related Transactions, and Director Independence	87
Item 14.	Principal Accounting Fees and Services	87
Part IV
Item 15.	Exhibits and Financial Statement Schedules	88
Item 16.	Form 10-K Summary	91
Signatures		92
Index to Financial Statements		F-1


	Production
Location/Mine	2021	2020	2019
Alabama:
Warrior Met Coal Mining, LLC
No. 4	736	1,956	2,015
No. 7	4,349	5,176	5,669

Total Alabama	5,085	7,132	7,684


	As of December 31,		Change
Mine	2021	2020	Tons	%
No. 4
Material Reserves(2)
Proven(3)	38.4	40.6	(2.2)	(5)	%
Probable(3)	1.0	0.1	0.9	900	%
Reserves(2)	39.4	40.7	(1.3)	(3)	%
No. 7
Material Reserves(2)
Proven(3)	39.6	40.4	(0.8)	(2)	%
Probable(3)	11.1	16.4	(5.3)	(32)	%
Reserves(2)	50.7	56.8	(6.1)	(11)	%
Blue Creek
Material Reserves(2)
Proven(3)	41.5	64.3	(22.8)	(35)	%
Probable(3)	21.8	38.7	(16.9)	(44)	%
Reserves(2)	63.3	103.0	(39.7)	(39)	%


	Number of Securities to be Issued upon Exercise of Outstanding Options, Warrants, and Rights	Weighted Average Exercise Price of Outstanding Options, Warrants, and Rights(1)		Number of Securities Remaining Available for Future Issuance
Equity compensation plans approved by security holders:
2017 Equity Incentive Plan	841,559(2)	$	—	4,740,814


☒			ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


Delaware		81-0706839
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

16243 Highway 216
Brookwood	Alabama	35444
(Address of Principal Executive Offices)		(Zip Code)


		Mineral Reserves(3)(5)					Quality (Air-Dried Basis)
Location/Mine	Status of Operation(4)	Proven(3)	Probable(3)	Reserves(3)	Owned	Leased	% Ash	% Sulfur	% VM
Alabama:
No. 4	Production	38.4	1.0	39.4	—	39.4	10.2	0.8	31
No. 7	Production	39.6	11.1	50.7	—	50.7	10.2	0.7	22
Blue Creek	Development	41.5	21.8	63.3	10.7	52.6	10.2	0.7	32
Other(6)	Various	9.3	—	9.3	9.3	—	7.7 - 20.5	.95 - 2.58	N/A

Total Alabama		128.9	33.9	162.8	20.1	142.7

Total Warrior Met Coal		128.9	33.9	162.8	20.1	142.7


		Demonstrated Coal Resources				Quality (Air-Dried Basis)
Location/Mine	Status of Operation(3)	Measured	Indicated	Measured + Indicated	Inferred	% Ash	% Sulfur	% VM
Alabama:
Blue Creek	Development	—	44.9	44.9	—	19.3	1.6	31

Total Alabama		—	44.9	44.9	—

Total Warrior Met Coal		—	44.9	44.9	—


	For the years ended December 31,
	2021			2020			2019
(in thousands)
Segment Adjusted EBITDA	$	474,001		$	136,701		$	515,253
Metric tons sold	5,699			6,735			7,240
Metric tons produced	5,084			7,132			7,683
Gross price realization (1)	92		%	96		%	98		%
Average net selling price per metric ton	$	180.43		$	113.12		$	170.72
Cash cost of sales per metric ton	$	96.43		$	92.31		$	99.15
Adjusted EBITDA	$	457,008		$	108,276		$	485,693


Exhibit Number			Description

2.1#			Amended and Restated Asset Purchase Agreement, dated as of March 31, 2016, by and among Warrior Met Coal, LLC and the other purchasers party thereto, as buyers, and Walter Energy, Inc. and certain subsidiaries of Walter Energy, Inc., as sellers (incorporated by reference to Exhibit 2.1 to the Registrant's Registration Statement on Form S-1 (File No. 333-216499) filed with the Commission on March 7, 2017).

2.2			Form of Certificate of Conversion of Warrior Met Coal, LLC (incorporated by reference to Exhibit 2.2 to the Registrant's Amendment No. 2 to the Registration Statement on Form S-1 (File No. 333-216499) filed with the Commission on April 3, 2017).

3.1			Certificate of Incorporation of Warrior Met Coal, Inc. (incorporated by reference to Exhibit 3.1 to the Registrant's Registration Statement on Form S-8 (File No. 333-217389) filed with the Commission on April 19, 2017).

3.2			Certificate of Amendment of the Certificate of Incorporation of Warrior Met Coal, Inc. (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K (File No. 001-38061) filed with the Commission on March 20, 2020).

3.3			Bylaws of Warrior Met Coal, Inc. (incorporated by reference to Exhibit 3.2 to the Registrant's Registration Statement on Form S-8 (File No. 333-217389) filed with the Commission on April 19, 2017).

3.4			Certificate of Designations of Series A Junior Participating Preferred Stock of Warrior Met Coal, Inc., as filed with the Secretary of State of the State of Delaware on February 14, 2020 (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K (File No. 001-38061) filed with the Commission on February 14, 2020).

4.1			Indenture, dated as of December 6, 2021, by and among Warrior Met Coal, Inc. the Subsidiary Guarantors party thereto from time to time and Wilmington Trust, National Association, as trustee and as priority lien collateral trustee (incorporated by reference to Exhibit 4.1 to the Registrant's Current Report on Form 8-K (File No. 001-38061) filed with the Commission on December 7, 2021).

4.2			Specimen Certificate for shares of common stock, par value $0.01 per share, of the Company (incorporated by reference to Exhibit 4.1 to the Registrant's Amendment No. 2 to the Registration Statement on Form S-1 (File No. 333-216499) filed with the Commission on April 3, 2017).


4.3			Rights Agreement, dated as of February 14, 2020, between Warrior Met Coal, Inc. and Computershare Trust Company, N.A., as rights agent (including the form of Certificate of Designations of Series A Junior Participating Preferred Stock attached thereto as Exhibit A, the form of Right Certificate attached thereto as Exhibit B and the Summary of Rights to Purchase Preferred Shares attached thereto as Exhibit C (incorporated by reference to Exhibit 4.1 to the Registrant’s Current Report on Form 8-K (File No. 001-38061) filed with the Commission on February 14, 2020)).

4.4			Description of Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934 (incorporated by reference to Exhibit 4.6 to the Registrant’s Annual Report on Form 10-K (File No. 001-38061) filed with the Commission on February 19, 2020).


			Warrior Met Coal, Inc.

			By:						/s/ Dale W. Boyles
									Dale W. Boyles
									Chief Financial Officer (on behalf of the registrant)

									Date: February 22, 2022



Signature	Title	Date
/s/ Walter J. Scheller, III
Walter J. Scheller, III	Chief Executive Officer (Principal Executive Officer) and Director	February 22, 2022

/s/ Dale W. Boyles
Dale W. Boyles	Chief Financial Officer (Principal Financial and Accounting Officer)	February 22, 2022

/s/ Stephen D. Williams
Stephen D. Williams	Director	February 22, 2022

/s/ Ana B. Amicarella
Ana B. Amicarella	Director	February 22, 2022

/s/ J. Brett Harvey
J. Brett Harvey	Director	February 22, 2022

/s/ Alan H. Schumacher
Alan H. Schumacher	Director	February 22, 2022


Reports of Independent Registered Public Accounting Firm			F-2
Balance Sheets at December 31, 2021 and December 31, 2020			F-5
Statements of Operations for the years ended December 31, 2021, December 31, 2020, and December 31, 2019			F-6
Statements of Changes in Equity for the years ended December 31, 2021, December 31, 2020, and December 31, 2019			F-7
Statements of Cash Flows for the years ended December 31, 2021, December 31, 2020, and December 31, 2019			F-8
Notes to Financial Statements			F-10


	For the years ended December 31,
(in thousands)	2021		% of Total Revenues		2020		% of Total Revenues
Revenues:
Sales	$	1,028,283	97.1	%	$	761,871	97.3	%
Other revenues	30,933		2.9	%	20,867		2.7	%
Total revenues	1,059,216		100.0	%	782,738		100.0	%
Costs and expenses:
Cost of sales (exclusive of items shown separately below)	554,282		52.3	%	625,170		79.9	%
Cost of other revenues (exclusive of items shown separately below)	28,899		2.7	%	33,736		4.3	%
Depreciation and depletion	141,418		13.4	%	118,092		15.1	%
Selling, general and administrative	35,593		3.4	%	32,879		4.2	%
Business interruption	21,372		2.0	%	—		—	%
Idle mine	33,899		3.2	%	—		—	%

Total costs and expenses	815,463		77.0	%	809,877		103.5	%
Operating income (loss)	243,753		23.0	%	(27,139)		(3.5)	%
Interest expense, net	(35,389)		(3.3)	%	(32,310)		(4.1)	%
Loss on early extinguishment of debt	(9,678)		(0.9)	%	—		—	%
Other income	1,291		0.1	%	3,544		0.5	%
Income (loss) before income tax expense (benefit)	199,977		18.9	%	(55,905)		(7.1)	%
Income tax expense (benefit)	49,096		4.6	%	(20,144)		(2.6)	%
Net income (loss)	$	150,881	14.2	%	(35,761)		(4.6)	%


	For the years ended December 31,
	2021		2020		2019
Revenues:
Sales	$	1,028,283	$	761,871	$	1,235,998
Other revenues	30,933		20,867		32,311
Total revenues	1,059,216		782,738		1,268,309
Costs and expenses:
Cost of sales (exclusive of items shown separately below)	554,282		625,170		720,745
Cost of other revenues (exclusive of items shown separately below)	28,899		33,736		29,828
Depreciation and depletion	141,418		118,092		97,330
Selling, general and administrative	35,593		32,879		37,014


Business interruption	21,372		—		—
Idle mine	33,899		—		—

Total costs and expenses	815,463		809,877		884,917
Operating income (loss)	243,753		(27,139)		383,392
Interest expense, net	(35,389)		(32,310)		(29,335)
Loss on early extinguishment of debt	(9,678)		—		(9,756)
Other income	1,291		3,544		22,815
Income (loss) before income taxes	199,977		(55,905)		367,116
Income tax expense (benefit)	49,096		(20,144)		65,417
Net income (loss)	$	150,881	$	(35,761)	$	301,699
Basic and diluted net income (loss) per share:
Net income (loss) per share—basic	$	2.94	$	(0.70)	$	5.87
Net income (loss) per share—diluted	$	2.93	$	(0.70)	$	5.86
Weighted average number of shares outstanding—basic	51,382		51,168		51,363
Weighted average number of shares outstanding— diluted	51,445		51,168		51,493
Dividends per share:	$	0.20	$	0.20	$	4.61


			Asset Retirement Obligations
Description of the Matter			At December 31, 2021, the Company had recorded asset retirement obligations of approximately $70.7 million for the estimated costs to reclaim surface lands and supporting infrastructure in accordance with applicable reclamation laws in the United States as defined by each mining permit. Changes in the asset retirement obligations are more fully described in Note 8 to the consolidated financial statements. The calculation of reclamation obligations requires significant judgment due to the inherent complexity in estimating the amount and timing of future costs and determining an appropriate rate to discount these costs back to their present value. Auditing the Company's asset retirement obligations involved a high degree of subjectivity as estimates underlying the determination of the obligation were based on assumptions unique to mining operations and subject to various laws and regulations governing the protection of the applicable environment, including estimates of disturbed acreage as determined from engineering data, estimates of future costs to reclaim the disturbed acreage and the timing and amount of related cash flows, which are discounted using a credit-adjusted, risk-free rate. Actual costs incurred in future periods could differ from amounts estimated and future changes to environmental laws and regulations could increase the extent of reclamation work required.
How We Addressed the Matter in Our Audit			We obtained an understanding, evaluated the design and tested the operating effectiveness of controls over the Company’s process for evaluating the asset retirement obligations. For example, we tested controls over management’s review of the assumptions described above. To test the asset retirement obligations, our audit procedures included, among others, involving our specialist to assist us in evaluating the Company’s reclamation cost estimates, including estimates of disturbed acreage, the scope of estimated reclamation activities against regulatory requirements, the associated future reclamation costs, and the timing of related cash flows, and the Company's reclamation methodology against industry practice. We also evaluated management’s methodology for determining the credit adjusted risk-free rate used to discount the asset retirement obligations.


	December 31, 2021		December 31, 2020

ASSETS
Current assets:
Cash and cash equivalents	$	395,839	$	211,916
Short-term investments	8,505		8,504
Trade accounts receivable	122,150		83,298
Other receivables	7,991		5,142

Inventories, net	59,619		118,713
Prepaid expenses and other	33,097		39,910
Total current assets	627,201		467,483
Mineral interests, net	93,180		100,855
Property, plant and equipment, net	603,412		637,108

Deferred income taxes	125,276		174,372
Other long-term assets	15,142		14,118
Total assets	$	1,464,211	$	1,393,936

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	33,829	$	59,110
Accrued expenses	54,847		86,108
Asset retirement obligations	5,141		4,354
Short-term financing lease obligations	23,622		14,385
Other current liabilities	4,689		6,361
Total current liabilities	122,128		170,318
Long-term debt	339,806		379,908

Asset retirement obligations	65,536		57,553
Black lung obligations	34,482		34,567
Financing lease obligations	28,434		24,091
Other long-term liabilities	1,842		2,258
Total liabilities	592,228		668,695
Stockholders’ Equity:
Common stock, $0.01 par value per share (Authorized -140,000,000 shares, 53,659,643 issued and 51,437,802 outstanding as of December 31, 2021 and 53,408,040 issued and 51,186,199 outstanding as of December 31, 2020)	537		534
Preferred stock, $0.01 par value per share (10,000,000 shares authorized, no shares issued and outstanding)	—		—
Treasury stock, at cost (2,221,841 shares as of December 31, 2021 and December 31, 2020)	(50,576)		(50,576)
Additional paid in capital	256,059		249,746
Retained earnings	665,963		525,537
Total stockholders’ equity	871,983		725,241
Total liabilities and stockholders’ equity	$	1,464,211	$	1,393,936


	Common Stock		Preferred Stock		Treasury Stock		Additional Paid in Capital		Retained Earnings		Total Stockholders’ Equity
Balance at December 31, 2018	$	533	$	—	$	(38,030)	$	239,827	$	510,282	$	712,612
Net income	—		—		—		—		301,699		301,699
Dividends paid ($4.61 per share)	—		—		—		—		(240,394)		(240,394)
Stock compensation	—		—		—		5,349		—		5,349
Treasury stock purchase	—		—		(12,546)		—		—		(12,546)
Other	—		—		—		(1,244)		106		(1,138)
Balance at December 31, 2019	$	533	$	—	$	(50,576)	$	243,932	$	571,693	$	765,582
Net loss	—		—		—		—		(35,761)		(35,761)
Dividends paid ($0.20 per share)	—		—		—		—		(10,395)		(10,395)
Stock compensation	—		—		—		7,087		—		7,087
Treasury stock purchase	—		—		—		—		—		—
Other	1		—		—		(1,273)		—		(1,272)
Balance at December 31, 2020	$	534	$	—	$	(50,576)	$	249,746	$	525,537	$	725,241
Net income	—		—		—		—		150,881		150,881
Dividends paid ($0.20 per share)	—		—		—		—		(10,455)		(10,455)
Stock compensation	—		—		—		9,355		—		9,355
Other	3		—		—		(3,042)		—		(3,039)
Balance at December 31, 2021	$	537	$	—	$	(50,576)	$	256,059	$	665,963	$	871,983


	December 31, 2021		December 31, 2020
Coal	$	24,185	$	86,272
Raw materials, parts, supplies and other, net	35,434		32,441
Total inventories, net	$	59,619	$	118,713


	December 31, 2021		December 31, 2020
Deferred longwall move expenses	$	20,901	$	22,972
Prepaid insurance	2,283		3,832
Prepaid deposits	49		6,937
Current hedge asset	4,043		—
Other	5,821		6,169
Total prepaid expenses and other	$	33,097	$	39,910


	December 31, 2021		December 31, 2020
Land	$	72,262	$	71,886
Land improvements	18,368		18,024
Building and leasehold improvements	83,649		77,556
Mine development and infrastructure costs	38,336		29,893
Machinery and equipment	742,890		679,393
Financing lease right of use asset	93,367		56,528
Construction in progress	47,814		82,367
Total	1,096,686		1,015,647
Less: Accumulated depreciation	(493,274)		(378,539)
Property, plant and equipment, net	$	603,412	$	637,108


	December 31, 2021		December 31, 2020
Advance mining royalties	$	7,297	$	7,305
ABL Facility origination fees	5,004		2,667
Other	2,841		4,146
Total other long-term assets	$	15,142	$	14,118


	December 31, 2021		December 31, 2020
Deferred income tax assets:
Net operating loss and credit carryforwards	$	226,438	$	253,756
Inventory	494		—
Asset retirement obligations	14,930		15,547
Black lung obligations	7,834		9,275
Accrued expenses	6,365		4,303
Other	268		3,614
Total deferred income tax assets	256,329		286,495
Less: valuation allowance for deferred income tax assets	(45,952)		—
Net deferred income tax assets	210,377		286,495
Deferred income tax liabilities:
Inventory	—		(558)
Prepaid expenses	(8,444)		(10,470)
Property, plant and equipment	(74,339)		(98,637)
Other	(2,318)		(2,458)
Total deferred income tax liabilities	(85,101)		(112,123)
Net deferred income tax asset	$	125,276	$	174,372


	December 31, 2021
Beginning balance	$	—
Addition/(Reduction) - current tax expense/(benefit)	45,952
Release	$	—
Ending balance	$	45,952


	December 31, 2021		December 31, 2020
Balance at Beginning of Period	$	61,907	$	56,206
Accretion expense	3,237		3,004
Revisions to estimates	5,567		2,973
Obligations settled	(34)		(276)
Balance at End of Period	$	70,677	$	61,907


	December 31, 2021		December 31, 2020
Accrued wages and employee benefits	$	31,456	$	25,539
Accrued operating expenses	8,720		46,285
Accrued royalties	8,267		3,484
Accrued freight	767		2,724
Accrued interest	2,297		4,981
Accrued non-income taxes	3,340		3,095
Total accrued expenses	$	54,847	$	86,108


	Shares	Weighted Average Grant Date Fair Value
Non-vested at December 31, 2020	799,240	$	18.95
Granted	430,929	$	13.51
Canceled	(31,207)	$	25.31
Forfeited	(22,010)	$	15.09
Vested	(348,550)	$	21.02
Outstanding at December 31, 2021	828,402


	December 31, 2021		December 31, 2020		Weighted Average Interest Rate at December 31, 2021	Final Maturity
7.875% senior secured notes due 2028	$	350,000	$	—	7.875%	2028
8% senior secured notes due 2024	—		$	343,435	8%	2024
ABL facility	—		40,000		Varies1	2026
Debt discount, net	(10,194)		(3,527)
Total debt	339,806		379,908
Less: current debt	—		—
Total long-term debt	$	339,806	$	379,908


	Payments Due
	2022		2023		2024		2025		2026		Thereafter
Senior secured notes	$	—	$	—	$	—	$	—	$	—	$	350,000
ABL facility	—		—		—		—		—		—
Total	$	—	$	—	$	—	$	—	$	—	$	350,000


	December 31, 2021			December 31, 2020
Finance lease right-of-use assets, net(1)	$	75,692		$	46,746
Finance lease liabilities
Current	23,622			14,385
Noncurrent	28,434			24,091
Total finance lease liabilities	$	52,056		$	38,476

Weighted average remaining lease term - finance leases (in months)	35.1			42.9
Weighted average discount rate - finance leases(2)	6.11		%	5.77		%


	For the year ended December 31,
	2021		2020
Operating lease cost(1):	$	4,271	$	2,980
Finance lease cost:
Amortization of leased assets	13,941		12,730
Interest on lease liabilities	3,902		1,988
Net lease cost	$	22,114	$	17,698


	Finance Leases(1)
2022	26,622
2023	25,640
2024	3,195
2025	1,353
Thereafter	156
Total	56,966
Less: amount representing interest	(4,910)
Present value of lease liabilities	$	52,056


	Fair Value Measurements as of December 31, 2021 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Natural gas swap contracts	$	—	$	4,043	$	—	$	4,043


Name of Subsidiary						Jurisdiction of Organization
Warrior Met Coal Intermediate Holdco, LLC						Delaware
Warrior Met Coal Gas, LLC						Delaware
Warrior Met Coal TRI, LLC						Delaware
Warrior Met Coal Land, LLC						Delaware
Warrior Met Coal LA, LLC						Delaware
Warrior Met Coal Mining, LLC						Delaware
Warrior Met Coal BC, LLC						Delaware
Warrior Met Coal WV, LLC						Delaware
WMC Blue Creek Holdco, Inc.						Delaware
Black Warrior Methane Corp.*						Alabama
Black Warrior Transmission Corp.*						Alabama


Mining Complex(1) (3)	Section 104 S&S Citations	Section 104(b) Orders	Section 104(d) Citations and Orders	Section 110(b)(2) Violations	Section 107(a) Orders	Proposed MSHA Assessments(2) ($ in thousands)	Fatalities
Warrior Met Coal Mining, LLC, No. 4	139	—	2	—	—	$278.3	—
Warrior Met Coal Mining, LLC, No. 7	383	—	13	—	—	$499.3	—