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Warrior Completes Amendment and Extension to its Asset-Based Revolving Credit Facility

BROOKWOOD, Ala.--(BUSINESS WIRE)-- Warrior Met Coal, Inc. (NYSE: HCC) (鈥淲arrior鈥� or the 鈥淐ompany鈥�) announced today that it has amended and extended its existing Second Amended and Restated Asset-Based Revolving Credit facility (as so amended and extended, the 鈥淎mended ABL facility鈥� or 鈥渃redit facility鈥�). Under the Amended ABL facility, among other things, (i) the aggregate commitments available to be borrowed under the credit facility have been increased by $27.0 million to $143.0 million; (ii) the maturity date has been extended to the earlier of (x) August 28, 2030 and (y) 91 days prior to the maturity date of the Company鈥檚 7.875% Senior Notes due 2028 (if such notes are still outstanding as of such date); and (iii) certain borrowing base calculations and other terms and provisions have been amended.

The Amended ABL facility reflects Warrior鈥檚 strategic decision to expand its total liquidity as it draws closer to the longwall startup at its transformational Blue Creek growth project, which the Company expects will increase its annual run rate volumes by approximately 75%. This incremental liquidity is expected to support the Company鈥檚 long-term operational growth as Blue Creek ramps up to its full capacity in the near future.

About Warrior

Warrior is a U.S.-based, environmentally, and socially minded supplier to the global steel industry. It is dedicated entirely to mining non-thermal metallurgical (met) coal used as a critical component of steel production by metal manufacturers in Europe, South America, and Asia. Warrior is a large-scale, low-cost producer and exporter of premium quality met coal, also known as hard coking coal (鈥淗CC鈥�), operating highly efficient longwall operations in its underground mines based in Alabama. The HCC that Warrior produces from the Blue Creek coal seam contains very low sulfur and has strong coking properties. The premium nature of Warrior鈥檚 HCC makes it ideally suited as a base feed coal for steel makers. For more information, please visit .

Forward-Looking Statements

This press release contains, and the Company鈥檚 officers and representatives may from time to time make, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements, including statements regarding the development of the Blue Creek project including the schedule for the startup of longwall operations The words 鈥渂elieve,鈥� 鈥渆xpect,鈥� 鈥渁nticipate鈥� or other similar expressions are intended to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements represent management鈥檚 good faith expectations, projections, guidance, or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company鈥檚 control, that could cause actual results to differ materially from the results discussed in the forward-looking statements, including, without limitation, fluctuations or changes in the pricing or demand for the Company鈥檚 coal (or met coal generally) by the global steel industry, including the risk of a continued decline in the index price for premium low-vol steelmaking coal; the inability of the Company to effectively operate its mines and the resulting decrease in production; the inability of the Company to transport its products to customers due to rail performance issues or the impact of weather and mechanical failures at the McDuffie Terminal at the Port of Mobile; regulatory requirements associated with federal, state and local regulatory agencies, and such agencies鈥� authority to order temporary or permanent closure of the Company鈥檚 mines; operational, logistical, geological, permit, license, labor and weather-related factors, including equipment, permitting, site access, operational risks and new technologies related to mining and labor strikes or slowdowns; the timing and impact of planned longwall moves; the Company鈥檚 obligations surrounding reclamation and mine closure; inaccuracies in the Company鈥檚 estimates of its met coal reserves; any projections or estimates regarding Blue Creek, if any, and the ability of Blue Creek to enhance the Company's portfolio of assets; the Company's ability to develop Blue Creek; and other factors described in the Company鈥檚 Form 10-K for the year ended December 31, 2024 and other reports filed from time to time with the Securities and Exchange Commission (the 鈥淪EC鈥�), which could cause the Company鈥檚 actual results to differ materially from those contained in any forward-looking statement. The Company鈥檚 filings with the SEC are available on its website at and on the SEC's website at .

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors.

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For Investors:

Dale W. Boyles, 205-554-6129

[email protected]

For Media:

D鈥橝ndre Wright, 205-554-6131

[email protected]

Source: Warrior Met Coal, Inc.