# EDGAR Filing Document

**Accession Number:** 0001710366
**File Stem:** 0001710366-26-000041
**Filing Date:** 2026-5
**Character Count:** 308473
**Document Hash:** f6fa1df8332286a57b1252dc4241b445
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001710366-26-000041.hdr.sgml**: 20260507

**ACCESSION NUMBER**: 0001710366-26-000041

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 93

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260507

**DATE AS OF CHANGE**: 20260507

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Core Natural Resources, Inc.
- **CENTRAL INDEX KEY:** 0001710366
- **STANDARD INDUSTRIAL CLASSIFICATION:** BITUMINOUS COAL & LIGNITE MINING [1220]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DC
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38147
- **FILM NUMBER:** 26950760

**BUSINESS ADDRESS:**
- **STREET 1:** 275 TECHNOLOGY DRIVE
- **STREET 2:** SUITE #101
- **CITY:** CANONSBURG
- **STATE:** PA
- **ZIP:** 15317
- **BUSINESS PHONE:** 724-416-8300

**MAIL ADDRESS:**
- **STREET 1:** 275 TECHNOLOGY DRIVE
- **STREET 2:** SUITE #101
- **CITY:** CANONSBURG
- **STATE:** PA
- **ZIP:** 15317

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CONSOL Energy Inc.
- **DATE OF NAME CHANGE:** 20171128

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CONSOL Mining Corp
- **DATE OF NAME CHANGE:** 20170626

?xml version='1.0' encoding='ASCII'? cnr-20260331

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-Q**

(Mark One)

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

For the quarterly period ended March 31, 2026

**OR**

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

For the transition period from ______ to ______

Commission file number: 001-38147

**Core Natural Resources, Inc.**

**(Exact name of registrant as specified in its charter)**

---

| | |
|:---|:---|
| **Delaware** | **82-1954058** |
| **(State or other jurisdiction of**<br>**incorporation or organization)** | **(I.R.S. Employer**<br>**Identification No.)** |

---

**275 Technology Drive Suite 101**

**Canonsburg, PA 15317-9565**

**(724) 416-8300**

**(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)**

 <br> Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **<u>Title of each class</u>** | **<u>Trading Symbol(s)</u>** | **<u>Name of each exchange on which registered</u>** |
| Common Stock, $0.01 par value | CNR | New York Stock Exchange |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Core Natural Resources, Inc. had 50,407,610 shares of common stock, $0.01 par value, outstanding at April 30, 2026.

------

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
| | **[PART I. Financial Information](#iab0aae48c93a400baa453d66f19797c4_13)** | **Page** |
| [ITEM 1.](#iab0aae48c93a400baa453d66f19797c4_16) | [Financial Statements](#iab0aae48c93a400baa453d66f19797c4_16) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Condensed Consolidated Statements of Income (Loss)<br>Three Months Ended March 31, 2026 and 2025 (Unaudited) | [5](#iab0aae48c93a400baa453d66f19797c4_19) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Condensed Consolidated Statements of Comprehensive Income (Loss)<br>Three Months Ended March 31, 2026 and 2025 (Unaudited) | [6](#iab0aae48c93a400baa453d66f19797c4_22) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Condensed Consolidated Balance Sheets<br>March 31, 2026 (Unaudited) and December 31, 2025 | [7](#iab0aae48c93a400baa453d66f19797c4_25) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Condensed Consolidated Statements of Stockholders' Equity<br>Three Months Ended March 31, 2026 and 2025 (Unaudited) | [9](#iab0aae48c93a400baa453d66f19797c4_28) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Condensed Consolidated Statements of Cash Flows<br>Three Months Ended March 31, 2026 and 2025 (Unaudited) | [10](#iab0aae48c93a400baa453d66f19797c4_31) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;[Notes to](#iab0aae48c93a400baa453d66f19797c4_34)[the Condensed](#iab0aae48c93a400baa453d66f19797c4_34)[Consolidated Financial Statements](#iab0aae48c93a400baa453d66f19797c4_34) | [11](#iab0aae48c93a400baa453d66f19797c4_34) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Note 1—Basis of Presentation](#iab0aae48c93a400baa453d66f19797c4_37) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Note 2—Merger with Arch](#iab0aae48c93a400baa453d66f19797c4_40) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Note 3—Revenue from Contracts with Customers](#iab0aae48c93a400baa453d66f19797c4_43) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Note 4—Components of Pension and Other Postretirement Benefit Plans Net Periodic Benefit Costs](#iab0aae48c93a400baa453d66f19797c4_49) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Note 5—Components of Coal Workers' Pneumoconiosis (CWP) and Workers' Compensation Net Periodic Benefit Costs](#iab0aae48c93a400baa453d66f19797c4_52) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Note 6—Income Taxes](#iab0aae48c93a400baa453d66f19797c4_55) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Note 7—Cash, Cash Equivalents and Restricted Cash](#iab0aae48c93a400baa453d66f19797c4_58) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Note 8—Credit Losses](#iab0aae48c93a400baa453d66f19797c4_61) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Note 9—Inventories](#iab0aae48c93a400baa453d66f19797c4_64) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Note 10—Accounts Receivable Securitization](#iab0aae48c93a400baa453d66f19797c4_67) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Note 11—Property, Plant and Equipment](#iab0aae48c93a400baa453d66f19797c4_70) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Note 12—Other Accrued Liabilities](#iab0aae48c93a400baa453d66f19797c4_73) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Note 13—Long-Term Debt](#iab0aae48c93a400baa453d66f19797c4_76) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Note 14—Commitments and Contingent Liabilities](#iab0aae48c93a400baa453d66f19797c4_79) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Note 15—Derivatives](#iab0aae48c93a400baa453d66f19797c4_502) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Note 16—Fair Value of Financial Instruments](#iab0aae48c93a400baa453d66f19797c4_82) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Note 17—Segment Information](#iab0aae48c93a400baa453d66f19797c4_85) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Note 18—Stock Repurchases](#iab0aae48c93a400baa453d66f19797c4_88) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Note 19—Subsequent Events](#iab0aae48c93a400baa453d66f19797c4_91) |  |
| [ITEM 2.](#iab0aae48c93a400baa453d66f19797c4_94) | [Management](#iab0aae48c93a400baa453d66f19797c4_94)['](#iab0aae48c93a400baa453d66f19797c4_94)[s Discussion and Analysis of Financial Condition and Results of Operations](#iab0aae48c93a400baa453d66f19797c4_94) | [29](#iab0aae48c93a400baa453d66f19797c4_94) |
| [I](#iab0aae48c93a400baa453d66f19797c4_109)[TEM](#iab0aae48c93a400baa453d66f19797c4_109)[3.](#iab0aae48c93a400baa453d66f19797c4_109) | [Quantitative and Qualitative Disclosures About Market Risk](#iab0aae48c93a400baa453d66f19797c4_109) | [44](#iab0aae48c93a400baa453d66f19797c4_109) |
| [I](#iab0aae48c93a400baa453d66f19797c4_112)[TEM](#iab0aae48c93a400baa453d66f19797c4_112)[4.](#iab0aae48c93a400baa453d66f19797c4_112) | [Controls and Procedures](#iab0aae48c93a400baa453d66f19797c4_112) | [44](#iab0aae48c93a400baa453d66f19797c4_112) |
|  | **[P](#iab0aae48c93a400baa453d66f19797c4_115)[ART](#iab0aae48c93a400baa453d66f19797c4_115)[II. Other Information](#iab0aae48c93a400baa453d66f19797c4_115)** |  |
| [I](#iab0aae48c93a400baa453d66f19797c4_118)[TEM](#iab0aae48c93a400baa453d66f19797c4_118)[1.](#iab0aae48c93a400baa453d66f19797c4_118) | [Legal Proceedings](#iab0aae48c93a400baa453d66f19797c4_118) | [45](#iab0aae48c93a400baa453d66f19797c4_118) |
| [I](#iab0aae48c93a400baa453d66f19797c4_121)[TEM](#iab0aae48c93a400baa453d66f19797c4_121)[1A.](#iab0aae48c93a400baa453d66f19797c4_121) | [Risk Factors](#iab0aae48c93a400baa453d66f19797c4_121) | [45](#iab0aae48c93a400baa453d66f19797c4_121) |
| [I](#iab0aae48c93a400baa453d66f19797c4_124)[TEM](#iab0aae48c93a400baa453d66f19797c4_124)[2.](#iab0aae48c93a400baa453d66f19797c4_124) | [Unregistered Sales of Equity Securities and Use of Proceeds](#iab0aae48c93a400baa453d66f19797c4_124) | [45](#iab0aae48c93a400baa453d66f19797c4_124) |
| [I](#iab0aae48c93a400baa453d66f19797c4_127)[TEM](#iab0aae48c93a400baa453d66f19797c4_127)[3.](#iab0aae48c93a400baa453d66f19797c4_127) | [Defaults Upon Senior Securities](#iab0aae48c93a400baa453d66f19797c4_127) | [45](#iab0aae48c93a400baa453d66f19797c4_127) |
| [I](#iab0aae48c93a400baa453d66f19797c4_130)[TEM](#iab0aae48c93a400baa453d66f19797c4_130)[4.](#iab0aae48c93a400baa453d66f19797c4_130) | [Mine Safety Disclosures](#iab0aae48c93a400baa453d66f19797c4_130) | [46](#iab0aae48c93a400baa453d66f19797c4_130) |
| [I](#iab0aae48c93a400baa453d66f19797c4_133)[TEM](#iab0aae48c93a400baa453d66f19797c4_133)[5.](#iab0aae48c93a400baa453d66f19797c4_133) | [Other Information](#iab0aae48c93a400baa453d66f19797c4_133) | [46](#iab0aae48c93a400baa453d66f19797c4_133) |
| [I](#iab0aae48c93a400baa453d66f19797c4_139)[TEM](#iab0aae48c93a400baa453d66f19797c4_139)[6.](#iab0aae48c93a400baa453d66f19797c4_139) | [Exhibits](#iab0aae48c93a400baa453d66f19797c4_139) | [46](#iab0aae48c93a400baa453d66f19797c4_139) |
| [S](#iab0aae48c93a400baa453d66f19797c4_142)[IG](#iab0aae48c93a400baa453d66f19797c4_142)[NA](#iab0aae48c93a400baa453d66f19797c4_142)[TURES](#iab0aae48c93a400baa453d66f19797c4_142) | [S](#iab0aae48c93a400baa453d66f19797c4_142)[IG](#iab0aae48c93a400baa453d66f19797c4_142)[NA](#iab0aae48c93a400baa453d66f19797c4_142)[TURES](#iab0aae48c93a400baa453d66f19797c4_142) | [53](#iab0aae48c93a400baa453d66f19797c4_142) |

---

------

**Explanatory Note**

On January 14, 2025, CONSOL Energy Inc., a Delaware corporation, completed its previously announced all-stock merger of equals transaction (the "Merger") with Arch Resources, Inc., a Delaware corporation ("Arch"), pursuant to that certain Agreement and Plan of Merger, dated as of August 20, 2024 (the "Merger Agreement"), by and among CONSOL Energy Inc., Mountain Range Merger Sub Inc., a Delaware corporation and wholly-owned subsidiary of CONSOL Energy Inc. ("Merger Sub"), and Arch. Pursuant to the terms of the Merger Agreement, Merger Sub merged with and into Arch, with Arch continuing as the surviving corporation and as a wholly-owned subsidiary of the Company. Additionally, pursuant to the Merger Agreement, the Company was renamed "Core Natural Resources, Inc." and began trading under the ticker symbol "CNR" on January 15, 2025.

The information set forth herein does not include the results of operations or cash flows of Arch prior to January 14, 2025. Accordingly, unless otherwise specifically noted, references herein to "Core Natural Resources," "Core," "we," "our," "us," "our Company" and "the Company" refer only to Core Natural Resources, Inc. and its subsidiaries and do not include Arch and its subsidiaries prior to the Merger. See Note 2—Merger with Arch for further discussion of the unaudited pro forma information.

**Important Definitions Referenced in this Quarterly Report on Form 10-Q**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Core Natural Resources," "Core," "we," "our," "us," "our Company" and "the Company" refer to Core Natural Resources, Inc. (formerly known as CONSOL Energy Inc. before the effective time of the Merger) and its subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Arch" refers to Arch Resources, Inc., a Delaware corporation and a wholly-owned subsidiary of the Company following the Merger;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Beckley" refers to the Company's Low-Vol metallurgical mining complex located in Raleigh County, West Virginia;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Black Thunder" refers to the Company's sub-bituminous thermal surface mining complex located in Campbell County, Wyoming;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Coal Creek" refers to the Company's sub-bituminous thermal surface mining complex located in Campbell County, Wyoming;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Core Marine Terminal" refers to the Company's terminal operations located in the Port of Baltimore, Maryland;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Dominion Terminal" refers to the ground storage-to-vessel coal transloading facility in Newport News, Virginia operated by DTA;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "DTA" refers to Dominion Terminal Associates LLP, a limited liability partnership, in which the Company owns a 35% interest;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "former parent" refers to CNX Resources Corporation and its consolidated subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Itmann" refers to the Company's Low-Vol metallurgical mining complex located in Wyoming County, West Virginia;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Leer" refers to the Company's High-Vol metallurgical mining complex located in Taylor County, West Virginia;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Leer South" refers to the Company's High-Vol metallurgical mining complex located in Barbour County, West Virginia;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Merger" refers to the Company's all-stock merger of equals transaction with Arch that closed on January 14, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Merger Agreement" refers to the Agreement and Plan of Merger, dated as of August 20, 2024, by and among the Company, Merger Sub and Arch;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Mountain Laurel" refers to the Company's High-Vol metallurgical mining complex located in Logan County and Boone County, West Virginia;

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Pennsylvania Mining Complex" or "PAMC" refers to the Company's Bailey, Enlow Fork and Harvey high calorific value thermal coal mines, and the Central Preparation Plant serving those mines, located in southwestern Pennsylvania and northern West Virginia; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "West Elk" refers to the Company's high calorific value thermal mining complex located in Gunnison County, Colorado.

------

**PART I. FINANCIAL INFORMATION**

**ITEM 1. FINANCIAL STATEMENTS**

**CORE NATURAL RESOURCES, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)**

**(Dollars in thousands, except per share data)**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** |
| | **2026** | **2025** |
| **Revenues** | $1084278 | $1017406 |
| **Costs and Expenses:** |  |  |
| Cost of Sales (exclusive of items shown separately below) | 879185 | 870296 |
| Depreciation, Depletion and Amortization | 146295 | 121556 |
| General and Administrative Costs | 36079 | 89323 |
| Other Operating Income and Expense, net | (9995) | (9859) |
|  | 1051564 | 1071316 |
| Income (Loss) from Operations | 32714 | (53910) |
| Interest Expense | (11192) | (8019) |
| Interest Income | 4748 | 6318 |
| Loss on Debt Extinguishment |  | (11680) |
| Non-Service Related Pension and Postretirement Benefit Costs | (5653) | (6202) |
| **Earnings (Loss) Before Income Tax** | 20617 | (73493) |
| Income Tax Benefit | (427) | (4216) |
| **Net Income (Loss)** | $21044 | $(69277) |
| **Earnings (Loss) per Share:** |  |  |
| Total Basic Earnings (Loss) per Share | $0.41 | $(1.38) |
| Total Diluted Earnings (Loss) per Share | $0.41 | $(1.38) |
| Dividends Declared per Common Share | $0.10 | $0.10 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

------

**CORE NATURAL RESOURCES, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)**

**(Dollars in thousands)**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** |
| | **2026** | **2025** |
| **Net Income (Loss)** | $21044 | $(69277) |
| **Other Comprehensive Income:** |  |  |
| &nbsp;&nbsp;Actuarially Determined Long-Term Liability Adjustments (Net of tax: ($191), ($109)) | 652 | 378 |
| &nbsp;&nbsp;Unrealized Loss on Investments in Available-for-Sale Securities (Net of tax: $46, $72) | (157) | (301) |
| **Other Comprehensive Income** | 495 | 77 |
| **Comprehensive Income (Loss)** | $21539 | $(69200) |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

------

**CORE NATURAL RESOURCES, INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(Dollars in thousands, except share and per share data)**

---

| | | |
|:---|:---|:---|
| | **(Unaudited)** | |
| | **March 31,<br>2026** | **December 31,<br>2025** |
| **ASSETS** | | |
| Current Assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and Cash Equivalents | $412708 | $432174 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts and Notes Receivable: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade Receivables, net | 369889 | 349233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Receivables, net | 37071 | 53928 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories | 369080 | 374759 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Current Assets | 82063 | 130128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Current Assets** | 1270811 | 1340222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Property, Plant and Equipment—Net** | 4375493 | 4386882 |
| Other Assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Funds for Asset Retirement Obligations | 149887 | 148874 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pension Benefits | 51334 | 49618 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Noncurrent Assets, net | 208396 | 204457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Other Assets** | 409617 | 402949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Assets** | $6055921 | $6130053 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

------

**CORE NATURAL RESOURCES, INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(Dollars in thousands, except share and per share data)**

---

| | | |
|:---|:---|:---|
| | **(Unaudited)** | |
| | **March 31,<br>2026** | **December 31,<br>2025** |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** | | |
| Current Liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts Payable | $315129 | $335623 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current Portion of Long-Term Debt | 43418 | 98328 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Accrued Liabilities | 388425 | 404338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Current Liabilities** | 746972 | 838289 |
| Long-Term Liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-Term Debt | 411630 | 354160 |
| &nbsp;&nbsp;&nbsp;&nbsp;Postretirement Benefits Other Than Pensions | 186732 | 186843 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pneumoconiosis Benefits | 258926 | 261201 |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset Retirement Obligations | 495140 | 496002 |
| &nbsp;&nbsp;&nbsp;&nbsp;Workers' Compensation | 71419 | 70457 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pension Benefits | 20997 | 21111 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred Income Taxes | 129819 | 130113 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Noncurrent Liabilities | 77394 | 93643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Long-Term Liabilities** | 1652057 | 1613530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Liabilities** | 2399029 | 2451819 |
| Commitments and Contingent Liabilities (Note 14) |  |  |
| Stockholders' Equity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Stock, $0.01 Par Value; 125,000,000 Shares Authorized, <br>50,569,806 Shares Issued and Outstanding at March 31, 2026; <br>50,975,185 Shares Issued and Outstanding at December 31, 2025 | 506 | 510 |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital in Excess of Par Value | 2978068 | 2982077 |
| &nbsp;&nbsp;&nbsp;&nbsp;Retained Earnings | 800652 | 818476 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated Other Comprehensive Loss | (122334) | (122829) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Stockholders' Equity** | 3656892 | 3678234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Liabilities and Stockholders' Equity** | $6055921 | $6130053 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

------

**CORE NATURAL RESOURCES, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY**

**(Dollars in thousands, except share and per share data)**

**(Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Common Stock** | **Capital in Excess of Par Value** | **Retained Earnings** | **Accumulated Other Comprehensive (Loss) Income** | **Total Stockholders' Equity** |
| **December 31, 2025** | $510 | $2982077 | $818476 | $(122829) | $3678234 |
| Net Income |  |  | 21044 |  | 21044 |
| Actuarially Determined Long-Term Liability Adjustments (Net of ($191) Tax) |  |  |  | 652 | 652 |
| Investments in Available-for-Sale Securities (Net of $46 Tax) |  |  |  | (157) | (157) |
| Comprehensive Income |  |  | 21044 | 495 | 21539 |
| Issuance of Common Stock | 1 | (1) |  |  |  |
| Repurchases of Common Stock (464,600 Shares) | (5) | (8538) | (33380) |  | (41923) |
| Excise Tax on Repurchases of Common Stock |  |  | (366) |  | (366) |
| Employee Stock-Based Compensation |  | 6176 |  |  | 6176 |
| Shares Withheld for Taxes |  | (1646) |  |  | (1646) |
| Dividends on Common Shares ($0.10 per share) |  |  | (5083) |  | (5083) |
| Dividend Equivalents Earned on Stock-Based Compensation Awards |  |  | (39) |  | (39) |
| **March 31, 2026** | $506 | $2978068 | $800652 | $(122334) | $3656892 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Common Stock** | **Capital in Excess of Par Value** | **Retained Earnings** | **Accumulated Other Comprehensive (Loss) Income** | **Total Stockholders' Equity** |
| **December 31, 2024** | $294 | $540412 | $1162114 | $(134573) | $1568247 |
| Net Loss |  |  | (69277) |  | (69277) |
| Actuarially Determined Long-Term Liability Adjustments (Net of ($109) Tax) |  |  |  | 378 | 378 |
| Investments in Available-for-Sale Securities (Net of $72 Tax) |  |  |  | (301) | (301) |
| Comprehensive (Loss) Income |  |  | (69277) | 77 | (69200) |
| Issuance of Common Stock | 3 | (3) |  |  |  |
| Merger with Arch | 243 | 2481125 |  |  | 2481368 |
| Repurchases of Common Stock (1,377,294 Shares) | (14) | (25296) | (75949) |  | (101259) |
| Employee Stock-Based Compensation |  | 36094 |  |  | 36094 |
| Shares Withheld for Taxes |  | (14068) |  |  | (14068) |
| Dividends on Common Shares ($0.10 per share) |  |  | (5364) |  | (5364) |
| Dividend Equivalents Earned on Stock-Based Compensation Awards |  |  | (44) |  | (44) |
| **March 31, 2025** | $526 | $3018264 | $1011480 | $(134496) | $3895774 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

------

**CORE NATURAL RESOURCES, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(Dollars in thousands)**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| **Cash Flows from Operating Activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net Income (Loss) | $21044 | $(69277) |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by (Used in) Operating Activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation, Depletion and Amortization | 146295 | 121556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on Sale of Assets | (6765) | (5817) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-Based Compensation | 6176 | 36094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on Debt Extinguishment |  | 11680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred Income Taxes | (294) | (4193) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss from Equity Method Investments | 3951 | 2477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Adjustments to Net Income (Loss) | 1486 | 574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in Operating Assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts and Notes Receivable | (2976) | (94369) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | 6730 | 15382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Current Assets | 4230 | (21998) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in Other Assets | 2267 | 21774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in Operating Liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts Payable | (17436) | (54048) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Operating Liabilities | (17389) | (35227) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments on Asset Retirement Obligations | (10413) | (6182) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in Other Liabilities | (17506) | (28064) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Cash Provided by (Used in) Operating Activities** | 119400 | (109638) |
| **Cash Flows from Investing Activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital Expenditures | (73097) | (64822) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from Sales of Assets | 9211 | 6003 |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from Sales of Short-Term Investments |  | 80165 |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of Short-Term Investments |  | (4802) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net Cash and Restricted Cash Acquired from Merger |  | 368726 |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchase of Arch Tax-Exempt Bonds |  | (98225) |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in DTA | (6847) | (1496) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Investing Activity | (9102) | (2538) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Cash (Used in) Provided by Investing Activities** | (79835) | 283011 |
| **Cash Flows from Financing Activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments on Finance Lease Obligations | (7210) | (2795) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from Long-Term Debt Issuance |  | 114439 |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments on Other Debt | (1713) | (10831) |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares Withheld for Taxes | (1646) | (14068) |
| &nbsp;&nbsp;&nbsp;&nbsp;Repurchases of Common Stock | (41923) | (101259) |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt-Related Financing Fees |  | (16381) |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends and Dividend Equivalents Paid | (5105) | (10695) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Cash Used in Financing Activities** | (57597) | (41590) |
| Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash | (18032) | 131783 |
| **Cash, Cash Equivalents and Restricted Cash at Beginning of Period** | 601162 | 447542 |
| **Cash, Cash Equivalents and Restricted Cash at End of Period** | $583130 | $579325 |
| **Non-Cash Investing and Financing Activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment Financing | $80880 | $39150 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Issued as Consideration for Merger | $— | $2481368 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

------

**CORE NATURAL RESOURCES, INC.**

**NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS** 

**(Unaudited)**

**NOTE 1—BASIS OF PRESENTATION:**

***Basis of Presentation***

The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the U.S. ("GAAP") for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2026 are not necessarily indicative of the results that may be expected for future periods.

The Condensed Consolidated Balance Sheet at December 31, 2025 has been derived from the Audited Consolidated Financial Statements at that date but does not include all disclosures required by GAAP. This Quarterly Report on Form 10-Q ("Report") should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2025.

All dollar amounts discussed in these Notes to the Condensed Consolidated Financial Statements are in thousands of U.S. dollars, except for share and per share amounts, and unless otherwise indicated.

***Basis of Consolidation***

The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned or controlled subsidiaries (including Arch from the date of the Merger). All significant intercompany transactions and accounts have been eliminated in consolidation. Upon closing of the Merger with Arch (see Note 2—Merger with Arch), the Company acquired a 35% interest in the Dominion Terminal, a ground storage-to-vessel coal transloading facility in Newport News, Virginia operated by DTA. The Company has the ability to exercise significant influence, but not control, over DTA and accordingly, the investment in DTA is accounted for under the equity method.

***Recent Accounting Pronouncements***

In November 2024, the Financial Accounting Standards Board issued Accounting Standards Update 2024-03 Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40). The amendments in this update improve the disclosures about a public business entity's expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions. The amendments in this update require that public business entities, at each interim period and on an annual basis: (1) disclose the amounts of (a) purchases of inventory, (b) employee compensation, (c) depreciation, (d) intangible asset amortization and (e) depreciation, depletion, and amortization recognized as part of oil- and gas-producing activities (or other amounts of depletion expense) included in each relevant expense caption; (2) include certain amounts that are already required to be disclosed under current GAAP; (3) disclose a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively; and (4) disclose the total amount of selling expenses and, in annual reporting periods, an entity's definition of selling expenses. The amendments in this update are effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. These amendments may be applied either prospectively or retrospectively. Management is currently evaluating the impact of this guidance but, with the exception of the increased disclosures summarized above, does not expect this update to have a material impact on the Company's financial statements.

***Earnings (Loss) per Share***

Basic earnings (loss) per share are computed by dividing net income (loss) by the weighted-average number of shares outstanding during the reporting period. Diluted earnings (loss) per share are computed similarly to basic earnings (loss) per share, except that the weighted-average number of shares outstanding is increased to include additional shares from restricted stock units and performance share units, if dilutive. The number of additional shares is calculated by assuming that outstanding restricted stock units and performance share units were released, and that the proceeds from such activities, as applicable, were used to acquire shares of common stock at the average market price during the reporting period.

------

The table below sets forth the share-based awards that have been excluded from the computation of diluted earnings (loss) per share because their effect would be anti-dilutive:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** |
| | **2026** | **2025** |
| Anti-Dilutive Restricted Stock Units |  | 52993 |
| Anti-Dilutive Performance Share Units | 236 | 4089 |
|  | 236 | 57082 |

---

The computations for basic and diluted earnings (loss) per share are as follows:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** |
| | **2026** | **2025** |
| Numerator: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Income (Loss) | $21044 | $(69277) |
| Denominator: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted-Average Shares of Common Stock Outstanding | 51000647 | 50264707 |
| &nbsp;&nbsp;&nbsp;&nbsp;Effect of Dilutive Shares | 58761 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted-Average Diluted Shares of Common Stock Outstanding | 51059408 | 50264707 |
| Earnings (Loss) per Share: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $0.41 | $(1.38) |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | $0.41 | $(1.38) |

---

As of March 31, 2026, the Company had 500,000 shares of preferred stock authorized, none of which were issued or outstanding.

***Reclassifications***

Certain amounts in prior periods have been reclassified to conform with the report classifications of the current period. These reclassifications had no effect on previously reported total net income (loss), total assets, total stockholders' equity or cash flows from operating, investing and financing activities, nor do they affect key metrics used by the Company's chief operating decision maker ("CODM") to evaluate performance.

**NOTE 2—MERGER WITH ARCH:**

On January 14, 2025, Core completed its merger of equals transaction with Arch. Pursuant to the terms of the Merger Agreement, Merger Sub merged with and into Arch, with Arch continuing as the surviving corporation and as a wholly-owned subsidiary of the Company. In connection with the Merger, the Company issued 24.3 million shares of its common stock, which represents approximately 45% of the issued and outstanding shares of Company common stock after giving effect to such issuance. Based upon the closing price of the Company's common stock on January 13, 2025, the equity portion of the purchase consideration was $2,481,368.

Prior to the closing of the Merger, on January 13, 2025, the Company purchased an aggregate principal amount of $98,075 of the outstanding (i) Solid Waste Disposal Facility Revenue Bonds (Arch Resources Project), Series 2020, and (ii) Solid Waste Disposal Facility Revenue Bonds (Arch Resources Project), Series 2021 (together, the "Arch Bonds"), which were issued by the West Virginia Economic Development Authority for the benefit of Arch (the "Arch Bond Purchase"). The Company also consented to the release of all liens, mortgages and security interests granted or purported to be granted pursuant to the security documents relating to the Arch Bonds and to the termination of all such security documents. The $98,075 of Arch Bonds purchased by the Company constituted all of the outstanding Arch Bonds. Upon the closing of the Merger, the pre-existing contractual relationship between the Company and Arch resulting from the Arch Bond Purchase became an intercompany relationship on a consolidated basis and, as such, was effectively settled upon the

------

closing of the Merger on January 14, 2025. As such, total consideration transferred has been adjusted for the effect of the Arch Bond Purchase and assumed liabilities exclude the obligations that were effectively settled. The settlement of this pre-existing relationship between the Company and Arch did not result in any material gain or loss. The Arch Bonds were successfully remarketed and reissued on March 27, 2025 to third-party investors. See Note 13 - Long-Term Debt for additional information.

The Merger joined two proven leadership teams and operating platforms to establish Core, a premier North American coal producer and exporter of high-quality, low-cost coals with offerings ranging from metallurgical to high calorific value and other thermal coals. With mining operations and terminal facilities across six states, Core owns 11 mines, including one of the largest, lowest cost and highest calorific value thermal coal mining complexes in North America and one of the largest, lowest cost and highest quality metallurgical coal mine portfolios in the U.S. Core also has access to global markets via ownership interests in two export terminals on the U.S. Eastern seaboard, along with strategic connectivity to ports on the West Coast and the Gulf of America.

The Company recognized assets acquired and liabilities assumed at their fair value as of the closing date of the Merger. During the fourth quarter of 2025, the Company finalized the purchase price allocation.

------

The following table presents the allocation of the aggregate purchase price based on the fair values of the assets acquired and liabilities assumed as of the closing date of the Merger:

---

| | |
|:---|:---|
| | **Purchase Price Allocation** |
| Total Equity Portion of Purchase Price Consideration | $2481368 |
| Effective Settlement of Pre-Existing Relationships | 95636 |
| **Total Consideration Transferred** | $2577004 |
| **Assets Acquired:** |  |
| Cash and Cash Equivalents | $217593 |
| Short-Term Investments | 22969 |
| Trade Receivables, net | 161670 |
| Other Receivables, net | 6629 |
| Inventories | 307175 |
| Other Current Assets | 13366 |
| Property, Plant and Equipment, net | 2607835 |
| Funds for Asset Retirement Obligations | 150033 |
| Other Noncurrent Assets, net | 152553 |
| **Total Assets Acquired** | $3639823 |
| **Liabilities Assumed:** |  |
| Accounts Payable | $211227 |
| Current Portion of Long-Term Debt | 4104 |
| Other Accrued Liabilities | 154651 |
| Long-Term Debt | 6667 |
| Postretirement Benefits Other Than Pensions | 37118 |
| Pneumoconiosis Benefits | 111313 |
| Asset Retirement Obligations | 248773 |
| Workers' Compensation | 36254 |
| Pension Benefits | 786 |
| Deferred Income Taxes | 158471 |
| Other Noncurrent Liabilities | 93455 |
| **Total Liabilities Assumed** | $1062819 |
| **Net Assets Acquired** | $2577004 |

---

The fair value and gross contractual amount of receivables acquired was $168,299, substantially all of which was collected as of December 31, 2025.

The fair value of acquired property, plant and equipment, which primarily includes mineral reserves and real and personal property, was measured using a combination of cost and income approaches based on inputs that are not observable in the market and, as such, are Level 3 fair value measurements. Significant inputs used in the income approach included estimates of forecasted cash flows, which are impacted by estimates of realized coal prices in the determination of forecasted revenue, estimates of forecasted operating and capital expenditures, and others. Significant inputs used in the cost approach included, but were not limited to, the replacement costs for similar assets, relative age of the assets, and any potential economic or functional obsolescence associated with the assets. The application of purchase accounting resulted in fair value adjustments of approximately $1.4 billion.

As part of the purchase price allocation, the Company identified certain intangible assets and liabilities related to contracts for which the contractual terms were identified as being favorable or unfavorable in relation to current market terms. The gross fair values of the identified intangible assets and liabilities were approximately $84 million and $37 million, which were included in Other Noncurrent Assets, net and Other Noncurrent Liabilities, respectively, on the

------

Condensed Consolidated Balance Sheets at March 31, 2026 and December 31, 2025. The fair values of the identified intangible assets and liabilities were determined using the income approach based on inputs that are not observable in the market and, as such, are Level 3 fair value measurements. Significant inputs to the valuation of the identified intangible assets and liabilities included future revenue estimates, future cost assumptions, estimated contract renewals, a discount rate assumption and an estimated required rate of return on the assets, among others. The identified intangible assets and liabilities are amortized over each contractual term, which ranged from one to five years, or a weighted-average period of 1.6 years, which reflects the pattern in which the Company expected to consume the economic benefits of the net assets. Amortization expense was approximately $2 million and $4 million for the three months ended March 31, 2026 and 2025, respectively. The Company expects to recognize remaining amortization expense of approximately 12% of the total contract value in 2026, 16% in 2027 and the remaining 2% in 2028 and 2029.

The table below summarizes the Company's results as though the Merger had been consummated on January 1, 2024:

---

| | |
|:---|:---|
| | **Three Months Ended<br>March 31, 2025** |
| | **Three Months Ended<br>March 31, 2025** |
| Revenues <sup>(a)</sup> | $1070702 |
| Net Loss <sup>(a)</sup> | $(41454) |

---

(a) Pro forma information has not been provided for the three months ended March 31, 2026 since Arch was fully consolidated for the entire period. Pro forma information for the three months ended March 31, 2025 includes Arch's historical results for the January 1, 2025 through January 13, 2025 period prior to the Merger excluding Merger-related costs.

The unaudited pro forma information is based on historical information and is adjusted for depreciation, depletion and amortization related to the fair value adjustments of property, plant and equipment and intangible assets (as discussed above), assuming the fair value adjustments had been applied from January 1, 2024. To give effect to the Merger as if it closed on January 1, 2024, the unaudited pro forma financial information for the three months ended March 31, 2025 excludes $51,741 of non-recurring pro forma adjustments (before tax) directly attributable to the Merger, which are comprised primarily of $49,182 of Merger-related costs incurred by the Company subsequent to the closing of the Merger and $2,559 of non-recurring expense related to the fair value adjustment to inventory. The Merger-related costs and non-recurring expense related to the fair value adjustment to inventory incurred subsequent to the closing of the Merger are included in General and Administrative Costs and Cost of Sales, respectively, in the Condensed Consolidated Statement of Income (Loss) for the three months ended March 31, 2025. Pro forma adjustments were tax-effected at the statutory tax rate of 21% for purposes of calculating net loss in the table above.

The pro forma information does not include any anticipated cost savings or other effects of the Merger. Accordingly, the unaudited pro forma information does not necessarily reflect the actual results that would have occurred, nor is it necessarily indicative of future results of operations.

**NOTE 3—REVENUE FROM CONTRACTS WITH CUSTOMERS:**

The following tables disaggregate the Company's revenue from contracts with customers by product type and market:

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** |
| | **Domestic** | **Export** | **Total** |
| Power Generation | $377920 | $69549 | $447469 |
| Industrial | 25180 | 252300 | 277480 |
| Metallurgical | 39411 | 305987 | 345398 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Coal Revenue | 442511 | 627836 | 1070347 |
| Third-Party Terminal Revenue |  |  | 8502 |
| Other Revenue |  |  | 5429 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Revenue from Contracts with Customers |  |  | $1084278 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** |
| | **Domestic** | **Export** | **Total** |
| Power Generation | $341809 | $92919 | $434728 |
| Industrial | 25499 | 176566 | 202065 |
| Metallurgical | 23504 | 348958 | 372462 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Coal Revenue | 390812 | 618443 | 1009255 |
| Third-Party Terminal Revenue |  |  | 4956 |
| Other Revenue |  |  | 3195 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Revenue from Contracts with Customers |  |  | $1017406 |

---

***Outstanding Performance Obligations***

As of March 31, 2026, the Company had outstanding performance obligations to deliver coal related to contracts with customers. For contracts in which volumes and prices per ton were fixed or reasonably estimable, future estimated revenue totaled approximately $3.7 billion. The Company expects to satisfy approximately 55% of these performance obligations in 2026 with the remainder thereafter. Actual revenue recognized related to these contracts may differ materially due to price adjustments for coal quality and cost escalations, volume optionality provisions or other contractual terms. Revenue associated with contracts containing variable-based pricing mechanisms has been excluded from the figures above as it cannot be reasonably estimated.

**NOTE 4—COMPONENTS OF PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS NET PERIODIC BENEFIT COSTS:**

The components of Net Periodic Benefit Cost were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Pension Benefits** | **Pension Benefits** | **Other Postretirement Benefits** | **Other Postretirement Benefits** |
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** |
| | **2026** | **2025** | **2026** | **2025** |
| Service Cost | $300 | $275 | $29 | $32 |
| Interest Cost | 5730 | 6342 | 2347 | 2905 |
| Expected Return on Plan Assets | (7479) | (7565) |  |  |
| Amortization of Prior Service Credits |  |  | (601) | (601) |
| Recognized Net Actuarial Loss (Gain) | 2468 | 2158 | (1020) | (684) |
| Net Periodic Benefit Cost | $1019 | $1210 | $755 | $1652 |

---

Service costs related to pension and other postretirement benefits are reflected in Cost of Sales in the Condensed Consolidated Statements of Income (Loss). All other expenses related to pension and other postretirement benefits are reflected in Non-Service Related Pension and Postretirement Benefit Costs in the Condensed Consolidated Statements of Income (Loss). Amounts reclassified out of accumulated other comprehensive (loss) income are reflected in Non-Service Related Pension and Postretirement Benefit Costs in the Condensed Consolidated Statements of Income (Loss).

------

**NOTE 5—COMPONENTS OF COAL WORKERS' PNEUMOCONIOSIS (CWP) AND WORKERS' COMPENSATION NET PERIODIC BENEFIT COSTS:**

The components of Net Periodic Benefit Cost were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **CWP** | **CWP** | **Workers' Compensation** | **Workers' Compensation** |
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** |
| | **2026** | **2025** | **2026** | **2025** |
| Service Cost | $1690 | $1816 | $3195 | $1728 |
| Interest Cost | 3382 | 3419 | 501 | 555 |
| Recognized Net Actuarial Loss (Gain) | 317 | 42 | (356) | (460) |
| State Administrative Fees and Insurance Bond Premiums |  |  | 766 | 390 |
| Net Periodic Benefit Cost | $5389 | $5277 | $4106 | $2213 |
| Insured Workers' Compensation Fees and Assessments |  |  | 519 | 1346 |
| Total Workers' Compensation Expense |  |  | $4625 | $3559 |

---

Service costs, state administrative fees and insurance bond premiums related to CWP and workers' compensation are reflected in Cost of Sales in the Condensed Consolidated Statements of Income (Loss). All other expenses related to CWP and workers' compensation are reflected in Non-Service Related Pension and Postretirement Benefit Costs in the Condensed Consolidated Statements of Income (Loss). Amounts reclassified out of accumulated other comprehensive (loss) income are reflected in Non-Service Related Pension and Postretirement Benefit Costs in the Condensed Consolidated Statements of Income (Loss).

**NOTE 6—INCOME TAXES:**

The Company recorded an income tax benefit for the three months ended March 31, 2026 of ($427), or an effective tax rate of (2.1%), of earnings before income tax based on its annual estimated income tax rate adjusted for discrete items. The effective tax rate for the three months ended March 31, 2026 differed from the U.S. federal statutory rate of 21% primarily due to tax benefits for excess percentage depletion and Section 45X Advanced Manufacturing Production Credits.

The income tax benefit for the three months ended March 31, 2025 of ($4,216), or an effective tax rate of 5.7%, of loss before income tax was based on the Company's annual estimated income tax rate adjusted for discrete items. The effective tax rate for the three months ended March 31, 2025 differed from the U.S. federal statutory rate of 21% primarily due to the tax benefit for excess percentage depletion.

**NOTE 7—CASH, CASH EQUIVALENTS AND RESTRICTED CASH:**

The following table disaggregates the Company's cash, cash equivalents and restricted cash, which reconciles to the total shown on the Condensed Consolidated Statements of Cash Flows:

---

| | | |
|:---|:---|:---|
| | **March 31,** | **March 31,** |
| | **2026** | **2025** |
| Cash and Cash Equivalents | $412708 | $388493 |
| Restricted Cash—Current <sup>(a)</sup> | 37655 | 39383 |
| Restricted Cash—Noncurrent <sup>(a)</sup> | 132767 | 151449 |
| Cash, Cash Equivalents and Restricted Cash | $583130 | $579325 |

---

(a) Restricted Cash—Current and Restricted Cash—Noncurrent are included in Other Current Assets and Funds for Asset Retirement Obligations, respectively, in the accompanying Condensed Consolidated Balance Sheets.

The components of cash, cash equivalents and restricted cash as of December 31, 2025 and 2024 are disclosed in Note 6 in the Notes to the Audited Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission on February 17, 2026.

------

**NOTE 8—CREDIT LOSSES:**

Trade receivables are recorded at the invoiced amount. Credit is extended based on the Company's assessment of several factors, including, but not limited to, a customer's financial condition and ability to perform its obligations. Trade receivable balances are monitored against approved credit terms. Credit terms are reviewed and adjusted as considered necessary based on changes to a customer's credit profile. If a customer's credit deteriorates, the Company may reduce credit risk exposure by reducing credit terms, obtaining letters of credit, obtaining credit insurance or requiring pre-payment for shipments. Other non-trade contractual arrangements consist primarily of overriding royalty agreements and other financial arrangements between the Company and various counterparties.

The Company may be at risk of exposure to credit losses primarily through sales of products and services. The Company's expected loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions and a review of the current status of customers' trade and other accounts receivables. Due to the short-term nature of such receivables, the estimate of the amount of accounts receivable that may not be collected is based on an aging of the accounts receivable balances and the financial condition of customers. Additionally, specific allowance amounts may be necessary from time to time and are established to record the appropriate provision for customers that have a higher probability of default. The Company's monitoring activities include timely account reconciliations, dispute resolution, payment confirmation and consideration of macroeconomic conditions and customers' financial conditions. Balances are written off when deemed uncollectible.

Management estimates the allowance balance using relevant available information, from internal and external sources, relating to past events, current conditions and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for changes to the assessment of anticipated payment, changes in economic conditions, current industry trends in the markets the Company serves and changes in the financial health of the Company's counterparties.

The following table provides a reconciliation of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable and other non-trade contractual arrangements to present the net amount expected to be collected:

---

| | | |
|:---|:---|:---|
| | **Trade Receivables** | **Other Non-Trade Contractual <br>Arrangements** |
| Beginning Balance, December 31, 2025 | $645 | $6753 |
| Provision for Expected Credit Losses | 1564 | 114 |
| Ending Balance, March 31, 2026 | $2209 | $6867 |

---

**NOTE 9—INVENTORIES:**

Inventories consisted of the following:

---

| | | |
|:---|:---|:---|
| | **March 31,<br>2026** | **December 31,<br>2025** |
| Coal | $145133 | $148891 |
| Supplies | 223947 | 225868 |
| Total Inventories | $369080 | $374759 |

---

**NOTE 10—ACCOUNTS RECEIVABLE SECURITIZATION:**

Certain U.S. subsidiaries of the Company are parties to a trade accounts receivable securitization facility with financial institutions for the sale on a continuous basis of eligible trade accounts receivable. On July 28, 2025, the Company and certain of its subsidiaries entered into (i) that certain Receivables Financing Agreement (the "Receivables Financing Agreement"), by and among Core Receivable Company, LLC, as borrower ("Core Receivable"), Core Sales, LLC, as the initial servicer (the "Servicer"), PNC Bank, National Association ("PNC"), as administrative agent and LC bank, PNC Capital Markets LLC ("PNC CM"), as structuring agent, and the lenders from time to time party thereto; (ii) that certain Third Amended and Restated Sale and Contribution Agreement (the "Sale and Contribution Agreement"), by

------

and among Core Receivable, the Servicer and Arch, as transferor; (iii) that certain Third Amended and Restated Purchase and Sale Agreement (the "Purchase and Sale Agreement"), by and among Arch, the Servicer and the originators party thereto; and (iv) that certain Fifth Amended and Restated Performance Guaranty (the "Performance Guaranty" and, together with the Receivables Financing Agreement, the Sale and Contribution Agreement and the Purchase and Sale Agreement, the "Receivables Documents"), by the Company, in favor of PNC as administrative agent. With entry into the Receivables Documents, legacy Arch's securitization facility was amended and restated in its entirety to, among other things, consolidate facilities and extend the maturity date to July 27, 2028, and legacy CONSOL's securitization facility was terminated effective July 28, 2025.

Pursuant to the Receivables Documents, Core Sales, LLC; Mingo Logan Coal LLC; Mountain Coal Company, L.L.C.; ICG Beckley, LLC; ICG Tygart Valley, LLC; Wolf Run Mining LLC; Thunder Basin Coal Company, L.L.C.; CONSOL Pennsylvania Coal Company LLC; Core Marine Terminals LLC; and Itmann Mining Company LP, all wholly-owned subsidiaries of the Company, sell or contribute trade receivables to Core Receivable, a special purpose vehicle and wholly-owned subsidiary of the Company (together with the special purpose vehicle associated with legacy CONSOL's securitization facility, the "SPVs"). Core Receivable, in turn, pledges its interests in the receivables to PNC and Regions Bank, each of which either makes loans or issues letters of credit on behalf of Core Receivable. The maximum amount of advances and letters of credit outstanding under the Receivables Financing Agreement may not exceed $250 million.

Loans under the Receivables Financing Agreement accrue interest at a reserve-adjusted market index rate equal to the applicable term Secured Overnight Financing Rate ("SOFR") plus ten basis points. Loans and letters of credit under the Receivables Financing Agreement also accrue a drawn fee and a letter of credit participation fee, respectively, of 2.00% per annum. In connection with the Receivables Financing Agreement, Core Receivable paid certain structuring fees to PNC CM and pays other customary fees to the lenders, including a fee on unused commitments equal to 0.60% per annum.

At March 31, 2026, the Company's eligible accounts receivable yielded $191,321 of borrowing capacity. At March 31, 2026, the facility had no outstanding borrowings and $158,282 of letters of credit outstanding, leaving available borrowing capacity of $33,039. At December 31, 2025, the Company's eligible accounts receivable yielded $185,122 of borrowing capacity. At December 31, 2025, the facility had no outstanding borrowings and $158,282 of letters of credit outstanding, leaving available borrowing capacity of $26,840. The Company has not derecognized any receivables due to its continued involvement in the collections efforts.

**NOTE 11—PROPERTY, PLANT AND EQUIPMENT:**

Property, plant and equipment consisted of the following:

---

| | | |
|:---|:---|:---|
| | **March 31,<br>2026** | **December 31,<br>2025** |
| Plant and Equipment | $4979427 | $4876926 |
| Coal Properties and Surface Lands | 2244359 | 2241915 |
| Airshafts | 608183 | 591146 |
| Mine Development | 690337 | 690845 |
| Advance Mining Royalties | 330516 | 329970 |
| Total Property, Plant and Equipment | 8852822 | 8730802 |
| Less: Accumulated Depreciation, Depletion and Amortization | 4477329 | 4343920 |
| Total Property, Plant and Equipment—Net | $4375493 | $4386882 |

---

As of March 31, 2026 and December 31, 2025, property, plant and equipment included gross assets under finance leases of $151,759 and $71,462, respectively. Accumulated amortization for finance leases was $20,485 and $15,230 at March 31, 2026 and December 31, 2025, respectively. Amortization expense for assets under finance leases was $5,898 and $3,075 for the three months ended March 31, 2026 and 2025, respectively, and is included in Depreciation, Depletion and Amortization in the accompanying Condensed Consolidated Statements of Income (Loss).

------

**NOTE 12—OTHER ACCRUED LIABILITIES:**

Other accrued liabilities consisted of the following:

---

| | | |
|:---|:---|:---|
| | **March 31,<br>2026** | **December 31,<br>2025** |
| Subsidence Liability | $109928 | $113352 |
| Accrued Compensation and Benefits | 80269 | 73783 |
| Accrued Other Taxes | 46143 | 53038 |
| Other | 52208 | 63951 |
| Current Portion of Long-Term Liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset Retirement Obligations | 38738 | 38738 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pneumoconiosis Benefits | 24322 | 24539 |
| &nbsp;&nbsp;&nbsp;&nbsp;Postretirement Benefits Other than Pensions | 18587 | 18696 |
| &nbsp;&nbsp;&nbsp;&nbsp;Workers' Compensation | 18230 | 18241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Other Accrued Liabilities | $388425 | $404338 |

---

**NOTE 13—LONG-TERM DEBT:**

Long-term debt consisted of the following:

---

| | | |
|:---|:---|:---|
| | **March 31,<br>2026** | **December 31,<br>2025** |
| Finance Lease Obligations (6.91% and 6.60% Weighted-Average Interest Rates) | $131635 | $57666 |
| WVEDA Solid Waste Disposal Facility Revenue Bonds at 5.45% | 106355 | 106355 |
| MEDCO Port Facilities Refunding Revenue Bonds at 5.00% | 102865 | 102865 |
| PEDFA Solid Waste Disposal Facility Revenue Bonds at 5.45% | 97560 | 97560 |
| Advance Royalty Commitments (8.04% Weighted-Average Interest Rates) | 11407 | 11407 |
| Equipment Financing (7.22% and 7.55% Weighted-Average Interest Rates) | 9646 | 79665 |
| Other Debt Arrangements | 1942 | 3509 |
| Less: Unamortized Debt Issuance Costs | (6362) | (6539) |
|  | 455048 | 452488 |
| Less: Current Portion of Long-Term Debt | (43418) | (98328) |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-Term Debt | $411630 | $354160 |

---

***Revolving Credit Facility***

In November 2017, the Company entered into a revolving credit facility with PNC (as amended, the "Revolving Credit Facility"). The Revolving Credit Facility has been amended several times, the most recent of which occurred in January 2025 in connection with the Merger. This amendment increased the available revolving commitments from $355 million to $600 million and extended the scheduled maturity date to April 30, 2029, provided that, if any of the MEDCO Bonds or PEDFA Bonds (as defined below) and any subsequent refinancings thereof remain outstanding 91 days prior to their stated maturity and our specified liquidity, as measured under the Revolving Credit Facility, is less than $250 million at that time, the maturity date of the Revolving Credit Facility will be such date. Additionally, the Company reduced the applicable interest rate margin on its borrowings and letters of credit under the Revolving Credit Facility by 75 basis points.

Borrowings under the Revolving Credit Facility bear interest at a floating rate that is, at the Company's option, either (i) SOFR plus a SOFR adjustment of 0.10% plus an applicable margin or (ii) an alternate base rate plus an applicable margin. The applicable margin for the Revolving Credit Facility depends on the Company's total net leverage ratio, and this rate resets quarterly. Obligations under the Revolving Credit Facility are guaranteed by (i) all owners of the PAMC held by the Company and (ii) subject to certain customary exceptions and agreed materiality thresholds, all other existing or future direct or indirect wholly-owned restricted subsidiaries of the Company, including subsidiaries acquired pursuant to the Merger. The obligations are secured by, subject to certain exceptions (including a limitation on pledges of equity

------

interests in certain subsidiaries and certain thresholds with respect to real property), a first-priority lien on the Company's and certain subsidiaries' significant assets.

The Revolving Credit Facility contains a number of customary affirmative covenants and a number of negative covenants, including (subject to certain exceptions) limitations on (among other things): indebtedness, liens, investments, acquisitions, dispositions, restricted payments and prepayments of junior indebtedness. The Revolving Credit Facility also includes covenants relating to (i) a maximum first lien gross leverage ratio, (ii) a maximum total net leverage ratio, and (iii) a minimum interest coverage ratio. The maximum first lien gross leverage ratio is calculated as the ratio of Consolidated First Lien Debt to Consolidated EBITDA. Consolidated EBITDA, as used in the covenant calculation, excludes non-cash compensation expenses, non-recurring transaction expenses, extraordinary gains and losses, gains and losses on discontinued operations and gains and losses on debt extinguishment. The maximum total net leverage ratio is calculated as the ratio of Consolidated Indebtedness, minus Cash on Hand, to Consolidated EBITDA. The minimum interest coverage ratio is calculated as the ratio of Consolidated EBITDA to Consolidated Cash Interest Expense. Consolidated Cash Interest Expense, as used in the covenant calculation, includes cash interest payments, net of any cash interest income. Under the Revolving Credit Facility, the maximum first lien gross leverage ratio shall be 1.50 to 1.00, the maximum total net leverage ratio shall be 2.50 to 1.00 and the minimum interest coverage ratio shall be 3.00 to 1.00.

The Company's first lien gross leverage ratio was 0.25 to 1.00 at March 31, 2026. The Company's total net leverage ratio was 0.07 to 1.00 at March 31, 2026. The Company's interest coverage ratio was 31.61 to 1.00 at March 31, 2026. The Company was in compliance with all covenants under the Revolving Credit Facility as of March 31, 2026.

At March 31, 2026, the Revolving Credit Facility had no borrowings outstanding and $110,351 of letters of credit outstanding, leaving $489,649 of unused capacity. At December 31, 2025, the Revolving Credit Facility had no borrowings outstanding and $110,098 of letters of credit outstanding, leaving $489,902 of unused capacity. From time to time, the Company is required to post financial assurances to satisfy contractual and other requirements generated in the normal course of business. Some of these assurances are posted to comply with federal, state or other government agencies' statutes and regulations. The Company sometimes uses letters of credit to satisfy these requirements, and these letters of credit reduce the Company's borrowing facility capacity.

The SPVs are not guarantors of the Revolving Credit Facility, and the SPVs hold the assets pledged to the lenders or sell the assets to the lenders in the securitization facility. The SPVs had total assets of $368,973 and $350,156, comprised mainly of $366,100 and $347,093 trade receivables, net, at March 31, 2026 and December 31, 2025, respectively. Net income attributable to the SPVs was $957 and $2,898 for the three months ended March 31, 2026 and 2025, respectively, which was primarily attributable to intercompany fees paid to purchase the receivables, which have been eliminated in the condensed consolidated financial statements contained within this Report. During the three months ended March 31, 2026 and 2025, there were no borrowings or payments under the accounts receivable securitization facilities. See Note 10—Accounts Receivable Securitization for additional information.

***Series 2025 Bonds***

In connection with the Merger, on January 13, 2025, the Company purchased the Arch Bonds. The Company also consented to the release of all liens, mortgages and security interests granted or purported to be granted pursuant to the security documents relating to the Arch Bonds and to the termination of all such security documents. The $98,075 of Arch Bonds purchased by the Company constituted all of the outstanding Arch Bonds.

On March 27, 2025, the Company borrowed the proceeds of tax-exempt bonds issued by (i) the Pennsylvania Economic Development Financing Authority ("PEDFA") in the aggregate principal amount of $97,560 (the "PEDFA Bonds"), at a fixed rate of 5.45% for an initial interest rate term of ten years on an unsecured basis, pursuant to a Bond Purchase Agreement, dated March 19, 2025, by and among Jefferies LLC, as the representative acting on behalf of itself, KeyBanc Capital Markets Inc., PNC CM, Goldman Sachs & Co. LLC, B. Riley Securities, Inc. and TCBI Securities, Inc. (collectively, the "Underwriters"), PEDFA and the Company; (ii) the Maryland Economic Development Corporation ("MEDCO") in the aggregate principal amount of $102,865 (the "MEDCO Bonds"), at a fixed rate of 5.00% for an initial interest rate term of ten years on an unsecured basis, pursuant to a Bond Purchase Agreement, dated March 19, 2025, by and among the Underwriters, MEDCO and the Company; and (iii) the West Virginia Economic Development Authority ("WVEDA") in the aggregate principal amount of $106,355 (the "WVEDA Bonds" and together with the PEDFA Bonds and the MEDCO Bonds, the "Series 2025 Bonds"), at a fixed rate of 5.45% for an initial interest rate term of ten years on an unsecured basis, pursuant to a Bond Purchase Agreement, dated March 19, 2025, by and among the Underwriters, WVEDA and the Company.

The Company used (i) a portion of the proceeds of the PEDFA Bonds to finance and refinance the costs of acquisition, construction, improvement, installation and equipping of certain solid waste disposal facilities located at the Central Preparation Plant in West Finley, Pennsylvania in part by refunding in full PEDFA's outstanding $75,000 Solid

------

Waste Disposal Revenue Bonds, Series 2021A (CONSOL Energy Inc. Project), (ii) the proceeds from the MEDCO Bonds to refinance the costs of acquisition, construction, improvement, installation and equipping of certain improvements, modifications and additions to a coal transshipment terminal located in the Canton area of the Port of Baltimore by refunding in full MEDCO's outstanding $102,865 Port Facilities Refunding Revenue Bonds (CNX Marine Terminals Inc. Port of Baltimore Facility) Series 2010 and (iii) a portion of the proceeds of the WVEDA Bonds to finance and refinance the costs of acquisition, construction, improvement, installation and equipping of certain solid waste disposal facilities relating to a longwall coal mining complex known as the Leer South Mine located in Barbour County, West Virginia in part by refunding in full WVEDA's outstanding $53,090 Solid Waste Disposal Facility Revenue Bonds (Arch Resources Project), Series 2020 and $44,985 Solid Waste Disposal Facility Revenue Bonds (Arch Resources Project), Series 2021.

The (i) PEDFA Bonds were issued pursuant to an indenture (the "PEDFA Indenture"), dated March 1, 2025, by and between PEDFA and Wilmington Trust, National Association, as trustee (the "Trustee"), and PEDFA made a loan of the proceeds of the PEDFA Bonds to the Company pursuant to a Loan Agreement, dated March 1, 2025 (the "PEDFA Loan Agreement"), between PEDFA and the Company; (ii) MEDCO Bonds were issued pursuant to an indenture (the "MEDCO Indenture"), dated March 1, 2025, by and between MEDCO and the Trustee, and MEDCO made a loan of the proceeds of the MEDCO Bonds to the Company pursuant to a Loan Agreement, dated March 1, 2025 (the "MEDCO Loan Agreement"), between MEDCO and the Company; and (iii) WVEDA Bonds were issued pursuant to an indenture (the "WVEDA Indenture" and together with the PEDFA Indenture and the MEDCO Indenture, the "Series 2025 Bonds Indentures"), dated March 1, 2025, by and between WVEDA and the Trustee, and WVEDA made a loan of the proceeds of the WVEDA Bonds to the Company pursuant to a Loan Agreement, dated as of March 1, 2025 (the "WVEDA Loan Agreement" and together with the PEDFA Loan Agreement and MEDCO Loan Agreement, the "Loan Agreements"), between WVEDA and the Company. Under the terms of the Loan Agreements, the Company agreed to make all payments of principal, interest and other amounts at any time due on the respective Series 2025 Bonds or under the respective Series 2025 Bonds Indentures.

As a result of these transactions, a loss of $11,680 was incurred and is included in Loss on Debt Extinguishment on the Condensed Consolidated Statements of Income (Loss) for the three months ended March 31, 2025.

**NOTE 14—COMMITMENTS AND CONTINGENT LIABILITIES:**

The Company is subject to various lawsuits and claims with respect to such matters as personal injury, wrongful death, damage to property, exposure to hazardous substances, governmental regulations including environmental remediation, employment and contract disputes and other claims and actions arising out of the normal course of business. The Company accrues the estimated loss for these lawsuits and claims when the loss is probable and reasonably estimable. The Company's estimated accruals related to pending claims not discussed below, individually and in the aggregate, are immaterial to the financial position, results of operations or cash flows of the Company as of March 31, 2026. It is possible that the aggregate loss in the future with respect to these lawsuits and claims could ultimately be material to the Company's financial position, results of operations or cash flows; however, such amounts cannot be reasonably estimated. The amount claimed against the Company as of March 31, 2026 is disclosed below when an amount is expressly stated in the lawsuit or claim, which is not often the case.

*United Mine Workers of America 1992 Benefit Plan Litigation:* In 2013, Murray Energy and its subsidiaries ("Murray") entered into a stock purchase agreement (the "Murray sale agreement") with the Company's former parent, pursuant to which Murray acquired the stock of Consolidation Coal Company and certain subsidiaries and certain other assets and liabilities. At the time of sale, the liabilities included certain retiree medical liabilities under the Coal Industry Retiree Health Benefit Act of 1992 ("Coal Act") and certain federal black lung liabilities under the Black Lung Benefits Act ("BLBA"). Murray filed for Chapter 11 bankruptcy in October 2019. As part of the bankruptcy proceedings, Murray unilaterally entered into a settlement with the United Mine Workers of America 1992 Benefit Plan (the "1992 Benefit Plan") to transfer retirees in the Murray Energy Section 9711 Plan to the 1992 Benefit Plan. This was approved by the bankruptcy court on April 30, 2020. On May 2, 2020, the 1992 Benefit Plan filed an action in the U.S. District Court for the District of Columbia asking the court to make a determination whether the Company's former parent or the Company has any continuing retiree medical liabilities under the Coal Act (the "1992 Plan Lawsuit"). The Murray sale agreement includes indemnification by Murray with respect to the Coal Act and BLBA liabilities. In addition, the Company had agreed to indemnify its former parent relative to certain pre-separation liabilities. As of September 16, 2020, the Company entered into a settlement agreement with Murray and withdrew its claims in bankruptcy. On September 11, 2020, the defendants in the 1992 Plan Lawsuit filed a Motion to Dismiss Plaintiffs' Second Amended Complaint which was denied by the Court on March 29, 2022. In October 2025, both parties filed a motion for summary judgment. In the 1992 Benefit Plan's summary judgment motion, it alleged it is entitled to recover reimbursement for unpaid monthly benefits premiums from the beginning of the lawsuit to present in the amount of $64.8 million, plus interest and damages totaling $25.6 million, as well as an unspecified amount of attorneys' fees. Based upon limited information available at the time of the Murray bankruptcy, the Company estimated that the future annual servicing costs of these liabilities in 2026 are

------

approximately $10.0 million, and the annual servicing cost would decline each year since the beneficiaries of the Coal Act consist principally of miners who retired prior to 1994. No ruling has been issued by the judge. The Company will continue to vigorously defend any claims that attempt to transfer any of such liabilities directly or indirectly to the Company, including raising all applicable defenses against the 1992 Benefit Plan's suit. With respect to this lawsuit, while a loss is reasonably possible, it is not probable and, as a result, no accrual has been recorded.

The Company and various subsidiaries are defendants in certain other legal proceedings. In the opinion of management, based upon an investigation of these matters and discussion with legal counsel, the ultimate outcome of such other legal proceedings, individually and in the aggregate, is not expected to have a material adverse effect on the Company's financial position, results of operations or liquidity.

Employee-related financial guarantees have primarily been provided to support the 1992 Benefit Plan and federal black lung and various state workers' compensation self-insurance programs. Environmental financial guarantees have primarily been provided to support various performance bonds related to reclamation and other environmental issues. Other financial guarantees have been extended to support sales contracts, insurance policies, surety indemnity agreements, legal matters, full and timely payments of mining equipment leases, and various other items necessary in the normal course of business. These amounts represent the maximum potential of total future payments that the Company could be required to make under these instruments. Certain letters of credit included in the table below were issued against other commitments included in this table. These amounts have not been reduced for potential recoveries under recourse or collateralization provisions. Generally, recoveries under reclamation bonds would be limited to the extent of the work performed at the time of the default. No amounts related to these commitments are recorded as liabilities in the financial statements. The Company's management believes that these commitments will not have a material adverse effect on the Company's financial condition. The following is a summary of the financial guarantees and letters of credit to certain third parties as of March 31, 2026:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Amount of Commitment Expiration per Period** | **Amount of Commitment Expiration per Period** | **Amount of Commitment Expiration per Period** | **Amount of Commitment Expiration per Period** | **Amount of Commitment Expiration per Period** |
| | **Total Amounts Committed** | **Less Than 1 Year** | **1-3 Years** | **3-5 Years** | **Beyond 5 Years** |
| Letters of Credit: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Employee-Related | $121969 | $112139 | $9830 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;Environmental | 398 | 398 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 146266 | 146224 | 42 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Letters of Credit | $268633 | $258761 | $9872 | $— | $— |
| Surety Bonds: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Employee-Related | $115850 | $93354 | $22496 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;Environmental | 859370 | 735610 | 123760 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 88373 | 81368 | 7005 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Surety Bonds | $1063593 | $910332 | $153261 | $— | $— |

---

The Company regularly evaluates the likelihood of default for all guarantees based on an expected loss analysis and records the fair value, if any, of its guarantees as an obligation in the financial statements.

***Business Interruption Insurance Recoveries***

On March 26, 2024, a container ship struck a support column of the Francis Scott Key Bridge in Baltimore, Maryland causing it to collapse, which suspended vessel access to, and export capability from, the Core Marine Terminal, located in the Port of Baltimore. On May 20, 2024, a limited access channel in the Chesapeake Bay was opened to commercial vessel traffic; the permanent 700-foot wide, 50-foot deep channel was restored and opened on June 10, 2024.

In the three months ended March 31, 2026 and 2025, the Company recorded insurance recoveries of $6,135 and $997, respectively, which represents a portion of the total settlement related to the Francis Scott Key Bridge collapse business interruption insurance claim, which was fully settled for a total of $40,000. These amounts were recorded in Other Operating Income and Expense, net on the Condensed Consolidated Statements of Income (Loss).

------

**NOTE 15—DERIVATIVES:**

***Diesel Price Risk Management Positions***

The Company may sell or purchase forward contracts, swaps and options in the over-the-counter diesel market in order to manage its exposure to diesel prices. The Company has exposure to the risk of fluctuating diesel prices related to the amount of diesel fuel consumed during its operations. As of March 31, 2026 and December 31, 2025, the Company held diesel-related financial contracts to buy an aggregate notional volume of 1.8 million gallons and 3.6 million gallons, respectively, which will be settled throughout 2026.

The Company has master netting agreements with all of its counterparties that allow for the settlement of contracts in an asset position with contracts in a liability position in the event of default or termination. Such netting arrangements reduce the Company's credit exposure related to these counterparties to the extent the Company has any liability to such counterparties. For classification purposes, the Company records the net fair value of all the positions with a given counterparty as a net asset or liability in the Condensed Consolidated Balance Sheets. At March 31, 2026 and December 31, 2025, the net fair value of derivatives was $3,084 and $345, respectively, which were included in Other Current Assets in the accompanying Condensed Consolidated Balance Sheets.

The Company did not apply cash flow hedge accounting treatment for its commodity derivative financial instruments; therefore, changes in fair value are reflected in current earnings. During the three months ended March 31, 2026, the Company settled a portion of its commodity derivatives at a gain of $233 and recognized unrealized mark-to-market gains on its commodity derivatives of $2,932. The Company had no derivative activity during the three months ended March 31, 2025. Realized gains and unrealized mark-to-market gains are included in Cost of Sales and Other Operating Income and Expense, Net, respectively, on the accompanying Condensed Consolidated Statements of Income (Loss).

The Company classifies the cash effects of its derivatives within the Cash Flows from Operating Activities section of the Condensed Consolidated Statements of Cash Flows.

**NOTE 16—FAIR VALUE OF FINANCIAL INSTRUMENTS:**

The Company determines the fair value of assets and liabilities based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The fair values are based on assumptions that market participants would use when pricing an asset or liability, including assumptions about risk and the risks inherent in valuation techniques and the inputs to valuations. The fair value hierarchy is based on whether the inputs to valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, including SOFR-based discount rates and U.S. Treasury-based rates, while unobservable inputs reflect the Company's own assumptions of what market participants would use.

The fair value hierarchy includes three levels of inputs that may be used to measure fair value as described below:

Level 1 - Quoted prices for identical instruments in active markets. The Company's Level 1 assets include marketable securities.

Level 2 - The fair values of the assets and liabilities included in Level 2 are based on standard industry income approach models that use significant observable inputs, including SOFR-based discount rates and U.S. Treasury-based rates. The Company's Level 2 assets include diesel commodity contracts with fair values derived from quoted prices in over-the-counter markets.

Level 3 - Unobservable inputs significant to the fair value measurement supported by little or no market activity.

In those cases when the inputs used to measure fair value meet the definition of more than one level of the fair value hierarchy, the lowest level input that is significant to the fair value measurement in its totality determines the applicable level in the fair value hierarchy.

------

The financial instruments measured at fair value on a recurring basis are summarized below:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Fair Value Measurements at** | **Fair Value Measurements at** | **Fair Value Measurements at** | **Fair Value Measurements at** | **Fair Value Measurements at** | **Fair Value Measurements at** |
| | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **<u>Description</u>** | **Level 1** | **Level 2** | **Level 3** | **Level 1** | **Level 2** | **Level 3** |
| Water Treatment Trust Funds <sup>(a)</sup> | $17120 | $— | $— | $17289 | $— | $— |
| Commodity Derivatives | $— | $3084 | $— | $— | $345 | $— |

---

(a) The water treatment trust funds are included in Funds for Asset Retirement Obligations in the accompanying Condensed Consolidated Balance Sheets.

The following methods and assumptions were used to estimate the fair value for which the fair value option was not elected:

*Long-term debt:* The fair value of long-term debt is measured using unadjusted quoted market prices or estimated using discounted cash flow analyses. The discounted cash flow analyses are based on current market rates for instruments with similar cash flows.

The carrying amounts and fair values of financial instruments for which the fair value option was not elected were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
| | **Carrying <br>Amount** | **Fair <br>Value** | **Carrying <br>Amount** | **Fair <br>Value** |
| Long-Term Debt (Excluding Debt Issuance Costs) | $461410 | $478589 | $459027 | $474976 |

---

Certain of the Company's debt is actively traded on a public market and, as a result, constitutes Level 1 fair value measurements. The portion of the Company's debt obligations that is not actively traded is valued through reference to the applicable underlying benchmark rate and, as a result, constitutes Level 2 fair value measurements.

**NOTE 17—SEGMENT INFORMATION:**

The Company reports segment information based on the "management" approach. The management approach designates the internal reporting used by management to make decisions on and assess performance of the Company's reportable segments. The Company presently consists of four reportable segments: (1) the High CV Thermal segment; (2) the Metallurgical segment; (3) the Powder River Basin ("PRB") segment; and (4) the Core Marine Terminal segment. The Company manages its segments by market and coal quality, not by individual mining complex or geographic region. The High CV Thermal segment consists of the Company's Pennsylvania Mining Complex and the West Elk mine located in Colorado. The Metallurgical segment consists of the Company's Leer, Leer South, Beckley, Mountain Laurel and Itmann coal mines in West Virginia. The PRB segment consists of the Company's Black Thunder and Coal Creek surface mining complexes located in Wyoming. The Core Marine Terminal segment consists of the Company's coal export terminal operations in the Port of Baltimore.

The Company's CODM is the chief executive officer, who utilizes Adjusted EBITDA to monitor each segment. Adjusted EBITDA removes financial activity not related to ongoing operations, which allows for a review of more streamlined operating results. It is used by the CODM to review the budget versus actual results and to evaluate the operating performance of each segment. This review and evaluation is utilized by the CODM to determine the best allocation of resources across the segments and for other business purposes.

------

Reportable segment results for the three months ended March 31, 2026 are:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **High CV Thermal** | **Metallurgical** | **PRB** | **Core Marine Terminal** | **Total** |
| Revenues from External Customers | $552832 | $342335 | $175180 | $8502 |  |
| Intersegment Revenues |  |  |  | 15710 |  |
|  | 552832 | 342335 | 175180 | 24212 | $1094559 |
| *Reconciliation of Revenue:* |  |  |  |  |  |
| Other Revenues <sup>(a)</sup> |  |  |  |  | 5429 |
| Elimination of Intersegment Revenues |  |  |  |  | (15710) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Consolidated Revenues |  |  |  |  | 1084278 |
| Less: <sup>(b)</sup> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash Costs of Revenue | 327825 | 226305 | 162596 | 8230 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transportation Costs | 99373 | 67787 | 3707 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Segment Items <sup>(c)</sup> |  | (9723) |  |  |  |
| Adjusted EBITDA | $125634 | $57966 | $8877 | $15982 | $208459 |
| *Reconciliation of Segment Profit or Loss Measure to Consolidated Earnings Before Income Tax:* | *Reconciliation of Segment Profit or Loss Measure to Consolidated Earnings Before Income Tax:* | *Reconciliation of Segment Profit or Loss Measure to Consolidated Earnings Before Income Tax:* | *Reconciliation of Segment Profit or Loss Measure to Consolidated Earnings Before Income Tax:* | *Reconciliation of Segment Profit or Loss Measure to Consolidated Earnings Before Income Tax:* | *Reconciliation of Segment Profit or Loss Measure to Consolidated Earnings Before Income Tax:* |
| Other Profit or Loss <sup>(a)</sup> |  |  |  |  | 1389 |
| Depreciation, Depletion and Amortization |  |  |  |  | (146295) |
| General and Administrative Costs |  |  |  |  | (36079) |
| Interest Expense |  |  |  |  | (11192) |
| Interest Income |  |  |  |  | 4748 |
| Non-Service Related Pension and Postretirement Benefit Costs |  |  |  |  | (5653) |
| Closed and Idle Mine Costs |  |  |  |  | (4480) |
| Other Operating Income, net |  |  |  |  | 9995 |
| Other Costs |  |  |  |  | (275) |
| &nbsp;&nbsp;&nbsp;&nbsp;Earnings Before Income Tax |  |  |  |  | $20617 |

---

(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.

(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(c) Other segment items include other non-operating income and expenses that are not part of each segment's ongoing operations.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **High CV Thermal** | **Metallurgical** | **PRB** | **Core Marine Terminal** | **Corporate and Other** <sup>(a)</sup> | **Consolidated** |
| Segment Assets <sup>(b)</sup> | $2117031 | $1975095 | $254984 | $93550 | $1615261 | $6055921 |
| Depreciation, Depletion and Amortization | $52676 | $70861 | $8300 | $1479 | $12979 | $146295 |
| Capital Expenditures | $50332 | $13700 | $751 | $2589 | $5725 | $73097 |

---

(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.

(b) Represents assets as of March 31, 2026.

------

Reportable segment results for the three months ended March 31, 2025 are:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **High CV Thermal** | **Metallurgical** | **PRB** | **Core Marine Terminal** | **Total** |
| Revenues from External Customers | $542086 | $304580 | $162589 | $4956 |  |
| Intersegment Revenues |  |  |  | 16270 |  |
|  | 542086 | 304580 | 162589 | 21226 | $1030481 |
| *Reconciliation of Revenue:* |  |  |  |  |  |
| Other Revenues <sup>(a)</sup> |  |  |  |  | 3195 |
| Elimination of Intersegment Revenues |  |  |  |  | (16270) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Consolidated Revenues |  |  |  |  | 1017406 |
| Less: <sup>(b)</sup> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash Costs of Revenue | 303561 | 210775 | 133158 | 7825 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transportation Costs | 93729 | 76982 | 2740 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Segment Items <sup>(c)</sup> |  | 36406 |  |  |  |
| Adjusted EBITDA | $144796 | $(19583) | $26691 | $13401 | $165305 |
| *Reconciliation of Segment Profit or Loss Measure to Consolidated Loss Before Income Tax:* | *Reconciliation of Segment Profit or Loss Measure to Consolidated Loss Before Income Tax:* | *Reconciliation of Segment Profit or Loss Measure to Consolidated Loss Before Income Tax:* | *Reconciliation of Segment Profit or Loss Measure to Consolidated Loss Before Income Tax:* | *Reconciliation of Segment Profit or Loss Measure to Consolidated Loss Before Income Tax:* | *Reconciliation of Segment Profit or Loss Measure to Consolidated Loss Before Income Tax:* |
| Other Profit or Loss <sup>(a)</sup> |  |  |  |  | 368 |
| Depreciation, Depletion and Amortization |  |  |  |  | (121556) |
| General and Administrative Costs |  |  |  |  | (89323) |
| Interest Expense |  |  |  |  | (8019) |
| Interest Income |  |  |  |  | 6318 |
| Loss on Debt Extinguishment |  |  |  |  | (11680) |
| Non-Service Related Pension and Postretirement Benefit Costs |  |  |  |  | (6202) |
| Closed and Idle Mine Costs |  |  |  |  | (4644) |
| Other Operating Income, net |  |  |  |  | 9859 |
| Other Costs |  |  |  |  | (13919) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss Before Income Tax |  |  |  |  | $(73493) |

---

(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to the revenue and expense from various corporate and diversified business activities excluded from our reportable segments.

(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(c) Other segment items include other non-operating income and expenses that are not part of each segment's ongoing operations.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **High CV Thermal** | **Metallurgical** | **PRB** | **Core Marine Terminal** | **Corporate and Other** <sup>(a)</sup> | **Consolidated** |
| Segment Assets <sup>(b)</sup> | $2252607 | $1766112 | $304455 | $87496 | $1841276 | $6251946 |
| Depreciation, Depletion and Amortization | $51290 | $45889 | $10780 | $1379 | $12218 | $121556 |
| Capital Expenditures | $33995 | $23964 | $2496 | $1242 | $3125 | $64822 |

---

(a) Includes various corporate and diversified business activities excluded from our reportable segments to reconcile to consolidated totals.

(b) Represents assets as of March 31, 2025.

In the three months ended March 31, 2026 and 2025, there were no customers with revenue that exceeded 10% of consolidated revenues.

------

**NOTE 18—STOCK REPURCHASES:**

On February 18, 2025, the Company's Board of Directors approved a capital return framework that involves a mix of dividends and share repurchases. The repurchase program permits the repurchase, from time to time, of the Company's outstanding shares of common stock in an aggregate amount of up to $1 billion, subject to certain covenants under the Revolving Credit Facility and the Series 2025 Bonds Indentures that may limit or restrict the Company's ability to repurchase shares of its common stock.

Under the terms of the program, the Company is permitted to make repurchases in the open market, in privately negotiated transactions, accelerated repurchase programs or in structured share repurchase programs. The Company is also authorized to enter into one or more 10b5-1 plans with respect to any of the repurchases. Any repurchases are to be funded from available cash on hand or short-term borrowings. The program does not obligate the Company to make any repurchases, and the program can be modified or suspended at any time at the Company's discretion. The program is conducted in compliance with applicable legal requirements as well as any covenants or other requirements included in the Company's credit agreements, receivables purchase agreements and indentures.

During the three months ended March 31, 2026 and 2025, the Company repurchased and retired 464,600 and 1,377,294 shares, respectively, of the Company's common stock at an average price of $90.23 and $73.52 per share, respectively.

**NOTE 19—SUBSEQUENT EVENTS:**

On May 7, 2026, the Company announced a $0.10 per share dividend in an aggregate amount of approximately $5.0 million, payable on June 12, 2026 to all stockholders of record as of May 29, 2026.

------

**ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS**

*You should read the following Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A") in conjunction with the Condensed Consolidated Financial Statements and corresponding notes included elsewhere in this Quarterly Report on Form 10-Q ("Report"). In addition, this Report should be read in conjunction with the Consolidated Financial Statements for the three-year period ended December 31, 2025 included in the Company's Annual Report on Form 10-K, filed on February 17, 2026. This MD&A contains forward-looking statements, and the matters discussed in these forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those projected or implied in the forward-looking statements. Please see "Risk Factors" and "Forward-Looking Statements" for a discussion of the uncertainties, risks and assumptions associated with these statements.*

*All amounts discussed are in millions of U.S. dollars, unless otherwise indicated. All tons discussed are on a clean coal equivalent basis.*

**Recent Developments**

***Merger***

On January 14, 2025, the Company completed the Merger with Arch. Pursuant to the terms of the Merger Agreement, Merger Sub merged with and into Arch, with Arch continuing as the surviving corporation and as a wholly-owned subsidiary of the Company. See Note 2—Merger with Arch in the Notes to the Condensed Consolidated Financial Statements in this Report for additional information.

***Combustion-Related Activity at Leer South Mine***

On January 13, 2025, a combustion-related activity was reported at the Leer South mine, located in Barbour County, West Virginia. The Company temporarily sealed the Leer South mine's active longwall panel in order to extinguish such activity. The Company resumed development work with continuous miners in February 2025, and Company personnel and regulatory officials re-entered the sealed area of the mine on June 10, 2025. Thereafter, ventilation to the full mine was re-established, hydraulic pressure along the longwall face was restored and an extensive evaluation of the mine's major equipment and infrastructure was conducted. As expected, the longwall suffered insignificant damage by the combustion event, and major components and systems remained in good condition. On June 26, 2025, the operating team found it necessary to evacuate the mine again and began restoring pumpable seals to the affected area in the wake of an increase in carbon monoxide levels. In December 2025, the Company recovered the major longwall mining equipment, repositioned it and resumed longwall operations. Following the repositioning, the Company permanently sealed the affected area.

The Company incurred fire extinguishment and idle costs of $101 million at Leer South in 2025 for which it is pursuing recoveries under its relevant insurance policies. The Company's initial advancement of insurance proceeds was $19.4 million, recorded in the third quarter of 2025. During the three months ended March 31, 2026, the Company recorded additional recoveries of $9.7 million. The Company will continue to pursue all avenues for additional recoveries.

***One Big Beautiful Bill Act***

On July 4, 2025, the One Big Beautiful Bill Act (the "OBBBA") was signed into law by the President of the U.S. Several provisions included in the OBBBA are expected to benefit the Company, including language designating U.S.-produced metallurgical coal as a "critical material" under Internal Revenue Code Section 45X (Advanced Manufacturing Production Credit), through which the Company will be eligible for a 2.5% monetizable tax credit on production-related costs beginning in 2026 and sunsetting at the end of 2029. The Company is currently evaluating the OBBBA provisions, and the determination as to the applicability and extent of the OBBBA's provisions on the Company's future results of operations and cash flows will be dependent upon interpretations of the law and revenue rulings issued by the U.S. Treasury Department.

***Executive Orders***

President Trump issued a series of executive orders in April 2025 intended to reduce the regulatory burden on U.S. coal-based power plants and to ensure the long-term preservation of the U.S. coal fleet. The Trump Administration views the coal fleet as essential to the security, resilience and reliability of the U.S. power system. Reduction of regulatory burden allows for any impediments to domestic thermal coal demand to be challenged and possibly removed so that the Company could have an increased chance to sell more of its thermal coals specifically within the U.S. The executive orders help to further de-risk the domestic thermal market in the near term.

------

**Our Business**

We are a world-class producer and exporter of high-quality, low-cost coals, including metallurgical and thermal coals. We play an essential role in meeting the world's growing need for energy, steel, cement and other infrastructure solutions. Our products have global access due to our ownership interests in two marine export terminals and access to several other third-party owned terminals.

The Merger joined two proven leadership teams and operating platforms to establish Core, a premier North American coal producer and exporter of high-quality, low-cost coals with offerings ranging from metallurgical to high calorific value and other thermal coals. With mining operations and terminal facilities across six states, Core owns 11 mines, including one of the largest, lowest cost and highest calorific value thermal coal mining complexes in North America and one of the largest, lowest cost and highest quality metallurgical coal mine portfolios in the U.S. Core also has access to global markets via ownership interests in two export terminals on the U.S. Eastern seaboard, along with strategic connectivity to ports on the West Coast and the Gulf of America. The combined company expects to realize meaningful operating synergies through the optimization of support functions, greatly enhanced marketing opportunities and a significantly expanded logistics network, which will enhance the Company's ability to deliver coal reliably and efficiently to its global customers.

**Results of Operations: Three Months Ended March 31, 2026 Compared with the Three Months Ended March 31, 2025**

***Revenues***

The Company's revenues primarily include sales to customers of coal produced at our operations and, to a lesser extent, coal purchased from third parties. The Company's revenues also include transloading services at the Port of Baltimore, as well as other revenues generated from customers.

Our mines in West Virginia produce a premium metallurgical product used in the global steel industry. Our surface mines in the Powder River Basin produce thermal coal for sale into domestic and international markets. Our thermal longwall mines produce a high-quality, high calorific value thermal product that can compete effectively in seaborne markets.

Consolidated revenues in the three months ended March 31, 2026 were $67 million higher than the three months ended March 31, 2025 due to increases in the High CV Thermal, Metallurgical, PRB and Core Marine Terminal segments of $11 million, $38 million, $13 million and $3 million, respectively. The increase in the Metallurgical segment was primarily attributable to increased metallurgical coal benchmark pricing coupled with higher sales tons. In the High CV Thermal and PRB segments, increased sales tons were partially offset by a weakened pricing environment. In the Core Marine Terminal segment, revenues increased primarily due to improved pricing and higher throughput tons. See the discussion in "*Operational Performance*" below for further information about segment results.

***Cost of Sales***

Cost of sales includes items such as direct operating costs, royalties, production taxes and credits, direct administration costs and transportation costs. Our consolidated cost of sales in the three months ended March 31, 2026 increased $9 million compared to the three months ended March 31, 2025 due to increases in the High CV Thermal and PRB segments of $30 million in each segment primarily due to increased sales tons. These increases were partially offset by a decrease in the Metallurgical segment of $40 million, primarily due to the $36 million of fire and idle costs in the prior year period associated with the combustion-related event at the Leer South mine compared to insurance reimbursements of $10 million in the current year period, partially offset by increased sales tons. The increased costs in the current year period were partially offset by Section 45X tax credits. In addition, prior year results included operating overhead and certain actuarial costs that did not recur. See the discussion in "*Operational Performance*" below for further information about segment results.

***Depreciation, Depletion and Amortization***

On a consolidated basis, depreciation, depletion and amortization costs were $146 million for the three months ended March 31, 2026, compared to $122 million for the three months ended March 31, 2025, resulting in a $25 million increase. The increase was primarily attributable to additional assets placed into service.

------

***General and Administrative Costs***

On a consolidated basis, general and administrative costs were $36 million for the three months ended March 31, 2026, compared to $89 million for the three months ended March 31, 2025. The $53 million decrease in the period-to-period comparison was primarily due to non-recurring Merger-related transaction costs incurred during the three months ended March 31, 2025, including fees paid to financial, legal and accounting advisors, severance and benefit costs, filing fees and debt restructuring costs. The remaining decrease related to lower headcount resulting from the synergies of the Merger.

***Other Operating Income and Expense, net***

Other operating income and expense, net consisted of the following items:

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** | **Variance** |
| Royalty Income - Non-Operated Coal | $8 | $7 | $1 |
| Gain on Sale of Assets | 7 | 6 | 1 |
| Insurance Proceeds | 6 | 1 | 5 |
| Land Holding and Administrative Costs | (7) | (4) | (3) |
| Other | (4) |  | (4) |
| &nbsp;&nbsp;Total Other Operating Income and Expense, net | $10 | $10 | $— |

---

Insurance proceeds recorded in the three months ended March 31, 2026 related to the final resolution of the Francis Scott Key Bridge collapse business interruption insurance claim.

***Interest Expense and Interest Income***

On a consolidated basis, interest expense was $11 million for the three months ended March 31, 2026, compared to $8 million for the three months ended March 31, 2025. The $3 million increase in the period-to-period comparison was primarily due to additional interest on the Series 2025 Bonds (as defined below), as well as interest incurred on new equipment financing arrangements and increased fees associated with the Company's Receivables Financing Agreement as a result of the July 2025 amendment.

Interest income decreased $2 million in the period-to-period comparison primarily due to changes in interest rates.

***Loss on Debt Extinguishment***

Loss on debt extinguishment of $12 million was recorded in the three months ended March 31, 2025 due to the amendment of the Company's Revolving Credit Facility and the refinancing of the Series 2025 Bonds.

***Non-Service Related Pension and Postretirement Benefit Costs***

Non-service related pension and postretirement benefit costs decreased $1 million in the period-to-period comparison primarily due to the impact of changes in actuarial assumptions made at the beginning of each year.

**How We Evaluate Our Operations**

Our management team uses a variety of financial and operating metrics to analyze our performance. These metrics are significant factors in assessing our operating results and profitability. The metrics include: (i) coal production and sales volumes; (ii) realized coal revenue, a non-GAAP financial measure; (iii) realized coal revenue per ton sold, an operating ratio derived from non-GAAP financial measures; (iv) cash cost of coal sold, a non-GAAP financial measure; (v) cash cost of coal sold per ton, an operating ratio derived from non-GAAP financial measures; (vi) cash margin per ton sold, an operating ratio derived from non-GAAP financial measures, defined as realized coal revenue per ton sold less cash cost of coal sold per ton; and (vii) adjusted EBITDA, a non-GAAP financial measure.

We believe that realized coal revenue and realized coal revenue per ton sold better reflect our revenue for the quality of coal sold and our operating results by including all income from coal sales. We believe cash cost of coal sold, cash cost of coal sold per ton and cash margin per ton sold normalize the volatility contained within comparable measures prepared in accordance with accounting principles generally accepted in the U.S. ("GAAP") by adjusting for certain non-operating or non-cash transactions. We believe that adjusted EBITDA provides a helpful measure of comparing our operating

------

performance with the performance of other companies that have different financing, capital structures and tax rates than ours. Each of these non-GAAP measures are used as supplemental financial measures by management and by external users of our financial statements, such as investors, industry analysts, lenders and ratings agencies, to assess:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our operating performance compared to the operating performance of other companies in the coal industry, without regard to financing methods, historical cost basis, tax rates or capital structure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the ability of our assets to generate sufficient cash flow;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to incur and service debt and fund capital expenditures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the viability of acquisitions and other capital expenditure projects and the returns on investment of various investment opportunities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the attractiveness of capital projects and acquisitions and the overall rates of return on alternative investment opportunities.

These non-GAAP financial measures should not be considered an alternative to revenues, cost of sales, net income (loss) or any other measure of financial performance presented in accordance with GAAP. These measures exclude some, but not all, items that affect measures presented in accordance with GAAP, and these measures and the way we calculate them may vary from those of other companies. As a result, the items presented below may not be comparable to similarly titled measures of other companies.

***Reconciliation of Non-GAAP Financial Measures***

We define realized coal revenue as revenues reported in the Condensed Consolidated Statements of Income (Loss) less transportation costs, transloading revenues and other revenues not directly attributable to coal sales. We define realized coal revenue per ton sold as realized coal revenue divided by tons sold. The following tables present reconciliations by reportable segment of realized coal revenue and realized coal revenue per ton sold to revenues, the most directly comparable GAAP financial measure (in thousands, except per ton information):

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** |
| | **High CV Thermal** | **Metallurgical** | **PRB** | **Core Marine Terminal** | **Idle and Other** | **Eliminations** | **Consolidated** |
| Revenues | $552832 | $342335 | $175180 | $24212 | $5429 | $(15710) | $1084278 |
| **Less: Adjustments to Reconcile to Segment Realized Coal Revenue** |  |  |  |  |  |  |  |
| Transportation Costs, including Intersegment Transportation Costs | 99373 | 67787 | 3707 |  |  |  | 170867 |
| Intersegment Terminal Revenues |  |  |  | 15710 |  | (15710) |  |
| Non-Coal Revenues |  |  |  | 8502 | 5429 |  | 13931 |
| Segment Realized Coal Revenue | $453459 | $274548 | $171473 | $— | $— | $— | $899480 |
| Tons Sold | 7703 | 2451 | 11918 |  |  |  |  |
| Realized Coal Revenue per Ton Sold | $58.86 | $112.03 | $14.39 |  |  |  |  |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** |
| | **High CV Thermal** | **Metallurgical** | **PRB** | **Core Marine Terminal** | **Idle and Other** | **Eliminations** | **Consolidated** |
| Revenues | $542086 | $304580 | $162589 | $21226 | $3195 | $(16270) | $1017406 |
| **Less: Adjustments to Reconcile to Segment Realized Coal Revenue** |  |  |  |  |  |  |  |
| Transportation Costs, including Intersegment Transportation Costs | 93729 | 76982 | 2740 |  |  |  | 173451 |
| Intersegment Terminal Revenues |  |  |  | 16270 |  | (16270) |  |
| Non-Coal Revenues |  |  |  | 4956 | 3195 |  | 8151 |
| Segment Realized Coal Revenue | $448357 | $227598 | $159849 | $— | $— | $— | $835804 |
| Tons Sold | 7097 | 2316 | 10707 |  |  |  |  |
| Realized Coal Revenue per Ton Sold | $63.18 | $98.26 | $14.93 |  |  |  |  |

---

The following tables present breakdowns of the realized coal revenue per ton sold for the Metallurgical segment between coking coal and thermal byproduct (in thousands, except per ton information):

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** |
| | **Coking Coal** | **Thermal Byproduct** | **Total Metallurgical Segment** |
| Segment Realized Coal Revenue | $261632 | $12916 | $274548 |
| Tons Sold | 2143 | 308 | 2451 |
| Realized Coal Revenue per Ton Sold | $122.11 | $41.94 | $112.03 |

---

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** |
| | **Coking Coal** | **Thermal Byproduct** | **Total Metallurgical Segment** |
| Segment Realized Coal Revenue | $213082 | $14516 | $227598 |
| Tons Sold | 1874 | 442 | 2316 |
| Realized Coal Revenue per Ton Sold | $113.70 | $32.83 | $98.26 |

---

------

We evaluate our cash cost of coal sold on an aggregate basis by segment and our cash cost of coal sold per ton on a per-ton basis. Cash cost of coal sold includes items such as direct operating costs, royalties, production taxes and credits and direct administration costs, and excludes transportation costs, indirect costs, other costs not directly attributable to the production of coal and depreciation, depletion and amortization costs on production assets. We define cash cost of coal sold per ton as cash cost of coal sold divided by tons sold. The following tables present reconciliations by reportable segment of cash cost of coal sold and cash cost of coal sold per ton to cost of sales, the most directly comparable GAAP financial measure (in thousands, except per ton information):

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** |
| | **High CV Thermal** | **Metallurgical** | **PRB** | **Core Marine Terminal** | **Idle and Other** | **Eliminations** | **Consolidated** |
| Cost of Sales | $427198 | $284369 | $166303 | $8230 | $8795 | $(15710) | $879185 |
| **Less: Adjustments to Reconcile to Segment Cash Cost of Coal Sold** |  |  |  |  |  |  |  |
| Transportation Costs | 84716 | 66734 | 3707 |  |  |  | 155157 |
| Intersegment Transportation Costs | 14657 | 1053 |  |  |  | (15710) |  |
| Cost of Sales from Idled Operations |  |  |  |  | 4480 |  | 4480 |
| Insurance Reimbursements - Fire Costs |  | (9723) |  |  |  |  | (9723) |
| Terminal Operating Costs |  |  |  | 8230 |  |  | 8230 |
| Other Non-Active Mining Costs |  |  |  |  | 4315 |  | 4315 |
| Segment Cash Cost of Coal Sold | $327825 | $226305 | $162596 | $— | $— | $— | $716726 |
| Tons Sold | 7703 | 2451 | 11918 |  |  |  |  |
| Cash Cost of Coal Sold per Ton | $42.56 | $92.35 | $13.64 |  |  |  |  |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** |
| | **High CV Thermal** | **Metallurgical** | **PRB** | **Core Marine Terminal** | **Idle and Other** | **Eliminations** | **Consolidated** |
| Cost of Sales | $397290 | $324163 | $135898 | $7825 | $21390 | $(16270) | $870296 |
| **Less: Adjustments to Reconcile to Segment Cash Cost of Coal Sold** |  |  |  |  |  |  |  |
| Transportation Costs | 78175 | 76266 | 2740 |  |  |  | 157181 |
| Intersegment Transportation Costs | 15554 | 716 |  |  |  | (16270) |  |
| Cost of Sales from Idled Operations |  | 36406 |  |  | 4644 |  | 41050 |
| Terminal Operating Costs |  |  |  | 7825 |  |  | 7825 |
| Other Non-Active Mining Costs |  |  |  |  | 16746 |  | 16746 |
| Segment Cash Cost of Coal Sold | $303561 | $210775 | $133158 | $— | $— | $— | $647494 |
| Tons Sold | 7097 | 2316 | 10707 |  |  |  |  |
| Cash Cost of Coal Sold per Ton | $42.78 | $91.00 | $12.44 |  |  |  |  |

---

------

We define adjusted EBITDA as (i) net income (loss) plus income taxes, net interest expense and depreciation, depletion and amortization, as adjusted for (ii) certain non-cash items, such as loss on debt extinguishment and (iii) other adjustments, such as stock-based compensation, Merger-related expenses and fair value adjustments of commodity derivative instruments. Adjusted EBITDA may also be adjusted for items that may not reflect the trend of future results by excluding transactions that are not indicative of our operating performance or that arise outside of the ordinary course of our business. The following tables present reconciliations by reportable segment of adjusted EBITDA to net income (loss), the most directly comparable GAAP financial measure (in thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** |
| | **High CV Thermal** | **Metallurgical** | **PRB** | **Core Marine Terminal** | **Other and Corporate** | **Consolidated** |
| Net Income (Loss) | $72958 | $(12895) | $577 | $14503 | $(54099) | $21044 |
| Income Tax Benefit |  |  |  |  | (427) | (427) |
| Interest Expense, net |  |  |  |  | 6444 | 6444 |
| Depreciation, Depletion and Amortization | 52676 | 70861 | 8300 | 1479 | 12979 | 146295 |
| Other Adjustments |  |  |  |  | 6534 | 6534 |
| Adjusted EBITDA | $125634 | $57966 | $8877 | $15982 | $(28569) | $179890 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** |
| | **High CV Thermal** | **Metallurgical** | **PRB** | **Core Marine Terminal** | **Other and Corporate** | **Consolidated** |
| Net Income (Loss) | $93506 | $(65472) | $15911 | $12022 | $(125244) | $(69277) |
| Income Tax Benefit |  |  |  |  | (4216) | (4216) |
| Interest Expense, net |  |  |  |  | 1701 | 1701 |
| Depreciation, Depletion and Amortization | 51290 | 45889 | 10780 | 1379 | 12218 | 121556 |
| Loss on Debt Extinguishment |  |  |  |  | 11680 | 11680 |
| Other Adjustments |  |  |  |  | 62041 | 62041 |
| Adjusted EBITDA | $144796 | $(19583) | $26691 | $13401 | $(41820) | $123485 |

---

**Operational Performance: Three Months Ended March 31, 2026 Compared with the Three Months Ended March 31, 2025**

The Company consists of four reportable segments: (1) the High CV Thermal segment; (2) the Metallurgical segment; (3) the PRB segment; and (4) the Core Marine Terminal segment. The High CV Thermal segment consists of the Company's Pennsylvania Mining Complex and the West Elk mine located in Colorado. The Metallurgical segment consists of the Company's Leer, Leer South, Beckley, Mountain Laurel and Itmann coal mines in West Virginia. The PRB segment consists of the Company's Black Thunder and Coal Creek surface mining complexes located in Wyoming. The Core Marine Terminal segment consists of the Company's coal export terminal operations in the Port of Baltimore.

------

The Company evaluates the performance of its segments utilizing Adjusted EBITDA and various productivity metrics. Adjusted EBITDA measures the operating performance of the Company's segments and is used to allocate resources to the Company's segments. The following table presents results by reportable segment:

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** | **Variance** |
| **High CV Thermal Segment** |  |  |  |
| Total Tons Produced (in millions) | 7.8 | 7.3 | 0.5 |
| Total Tons Sold (in millions) | 7.7 | 7.1 | 0.6 |
| Realized Coal Revenue per Ton Sold <sup>(a)</sup> | $58.86 | $63.18 | $(4.32) |
| Cash Cost of Coal Sold per Ton <sup>(a)</sup> | $42.56 | $42.78 | $(0.22) |
| Cash Margin per Ton Sold <sup>(a)</sup> | $16.30 | $20.40 | $(4.10) |
| Adjusted EBITDA (in thousands) <sup>(a)</sup> | $125634 | $144796 | $(19162) |
| **Metallurgical Segment** |  |  |  |
| Total Tons Produced (in millions) | 2.4 | 2.1 | 0.3 |
| Total Tons Sold (in millions) | 2.5 | 2.3 | 0.2 |
| Realized Coal Revenue per Ton Sold <sup>(a)</sup> | $112.03 | $98.26 | $13.77 |
| Cash Cost of Coal Sold per Ton <sup>(a)</sup> | $92.35 | $91.00 | $1.35 |
| Cash Margin per Ton Sold <sup>(a)</sup> | $19.68 | $7.26 | $12.42 |
| Adjusted EBITDA (in thousands) <sup>(a)</sup> | $57966 | $(19583) | $77549 |
| **PRB Segment** |  |  |  |
| Total Tons Produced (in millions) | 11.9 | 10.7 | 1.2 |
| Total Tons Sold (in millions) | 11.9 | 10.7 | 1.2 |
| Realized Coal Revenue per Ton Sold <sup>(a)</sup> | $14.39 | $14.93 | $(0.54) |
| Cash Cost of Coal Sold per Ton <sup>(a)</sup> | $13.64 | $12.44 | $1.20 |
| Cash Margin per Ton Sold <sup>(a)</sup> | $0.75 | $2.49 | $(1.74) |
| Adjusted EBITDA (in thousands) <sup>(a)</sup> | $8877 | $26691 | $(17814) |
| **Core Marine Terminal Segment** |  |  |  |
| Throughput Tons (in millions) | 4.8 | 4.3 | 0.5 |
| Adjusted EBITDA (in thousands) <sup>(a)</sup> | $15982 | $13401 | $2581 |

---

(a) Realized coal revenue per ton sold, cash cost of coal sold per ton and cash margin per ton sold are operating ratios derived from non-GAAP financial measures, and Adjusted EBITDA is a non-GAAP financial measure. See *"How We Evaluate Our Operations - Reconciliation of Non-GAAP Financial Measures"* above for definitions and reconciliations of these amounts to the most directly comparable GAAP measures.

***High CV Thermal Segment Analysis***

Adjusted EBITDA decreased $19 million in the period-to-period comparison, primarily due to a $4.32 decrease in realized coal revenue per ton sold, partially offset by a 0.6 million increase in tons sold and a $0.22 decrease in cash cost of coal sold per ton. The decrease in realized coal revenue per ton sold was primarily due to softened international markets, which weighed on Newcastle prices, coupled with weak demand in Europe, which weighed on API2 pricing. The decrease in cash cost of coal sold per ton was primarily due to higher sales tons to absorb fixed costs on a per ton basis compared to the prior year period.

***Metallurgical Segment Analysis***

Adjusted EBITDA increased $78 million in the period-to-period comparison, primarily due to a $13.77 increase in realized coal revenue per ton sold and higher tons sold. Metallurgical coal benchmark prices increased compared to the prior year period due to stronger demand. In addition, the Leer South mine was fully operational in the current year period compared to being idled in the prior year period due to the combustion-related event. Prior year Adjusted EBITDA was

------

negatively impacted by $36 million of costs incurred associated with this incident, whereas insurance reimbursements of $10 million were recorded in the current year period.

***PRB Segment Analysis***

Adjusted EBITDA decreased $18 million in the period-to-period comparison, primarily due to a $1.20 increase in cash cost of coal sold per ton, partially offset by higher tons sold. The increase in cash cost of coal sold per ton was largely attributable to increased fuel and explosives costs due to higher commodity prices, as well as increased maintenance costs compared to the prior year period.

***Core Marine Terminal Segment Analysis***

Adjusted EBITDA increased $3 million in the period-to-period comparison, primarily due to increased throughput tons as well as favorable pricing. Throughput volumes at the Core Marine Terminal were 4.8 million tons for the three months ended March 31, 2026, compared to 4.3 million tons for the three months ended March 31, 2025.

**Liquidity and Capital Resources**

The Company's potential sources of liquidity include cash generated from operating activities, cash on hand, borrowings under the Revolving Credit Facility and Receivables Financing Agreement (which are discussed and defined below) and, if necessary, the ability to issue equity or debt securities. The Company believes that cash generated from these sources, without needing to issue equity or debt securities, will be sufficient to meet its short-term working capital requirements, long-term capital expenditure requirements and debt servicing obligations, as well as to provide required letters of credit or surety bonds necessary for the Company's operations.

Our total liquidity as of March 31, 2026 was comprised of the following:

---

| | |
|:---|:---|
| ***(in millions)*** | **March 31, 2026** |
| Cash and Cash Equivalents | $413 |
| Receivables Financing Agreement - Current Availability | 191 |
| Revolving Credit Facility - Current Availability | 600 |
| Less: Letters of Credit Outstanding | (269) |
| Total Liquidity | $935 |

---

Events that negatively impact our operations, overall financial condition and liquidity could result in our inability to comply with the Revolving Credit Facility's financial covenants. This could limit our ability to borrow under the Revolving Credit Facility if we are unable to obtain necessary waivers or amendments. The Company expects to maintain adequate liquidity through its net cash provided by operating activities and cash and cash equivalents on hand, as well as the Revolving Credit Facility and its Receivables Financing Agreement, to fund its working capital needs and capital expenditures in the short-term and long-term.

Uncertainty in the financial markets, tariffs, foreign conflicts and executive actions by the executive branch of the U.S. Government and certain other foreign nations or sovereignties bring additional potential risks to the Company. These risks could impact our ability to raise capital in the equity and debt markets or result in higher costs to obtain additional capital or credit, as well as increase potential counterparty defaults. In addition, market disruptions and uncertainty, arising from current and potential tariffs, executive actions, elevated interest rates, sustained high inflation and supply chain disruptions such as those stemming from the recent conflict in Iran, may impact the Company's revenues and collections, as well as its overall cost of operations, including recent increases in diesel fuel and other commodity prices. The Company regularly monitors the creditworthiness of its customers and counterparties and manages credit exposure through payment terms, credit limits, prepayments and security.

The global landscape on rates and the scope of tariffs imposed on goods imported into and out of the U.S. from multiple countries around the world continues to evolve and be uncertain, as the U.S. Government continues to negotiate its position with multiple countries and across various industries and goods. While the evolving global trade landscape relating to tariffs and retaliatory trade measures imposed by other countries on U.S. goods has not yet had a significant impact on our business or results of operations as of March 31, 2026, this and the potential for additional changes in U.S. or international trade policy have increased uncertainty regarding the ultimate effect of the tariffs on economic conditions and could lead to further weakened business conditions for the coal industry.

------

Over the past few years, the insurance and surety markets have been increasingly challenging, particularly for coal companies. We have experienced rising premiums, reduced coverage and fewer providers willing to underwrite policies and surety bonds. Terms have become generally unfavorable, including increases in the amount of collateral required to secure surety bonds. However, more recently, we have seen insurance rates and collateral requirements stabilize and even decrease on certain lines of coverage, as new insurance carriers have entered the market. Further cost burdens on our ability to maintain adequate insurance and bond coverage may adversely impact our operations, financial position and liquidity.

At March 31, 2026, the Company had a $133 million fund in place that will cover, in part, future reclamation costs of the thermal assets in the PRB. Additionally, the Company maintains $17 million in water treatment trust funds that will fund future water treatment obligations in Pennsylvania, as well as replace surety bonds and related collateral requirements. The Company expects to continue to contribute a minimum of $2 million per year to the funds. These amounts are included in Funds for Asset Retirement Obligations on the Condensed Consolidated Balance Sheets.

In December 2024, the Office of Workers' Compensation Programs (the "OWCP") issued a final rule revising the regulations under the Black Lung Benefits Act related to self-insurance by coal mine operators. Under the new standard, self-insured coal mine operators are required to post additional security for the Black Lung benefit liabilities. The final rule requires a security amount equal to 100% of a self-insured operator's projected black lung liabilities. The rule became effective on January 13, 2025, and operators were required to remit the increased security amount within one year. The final rule, including any assessments, is subject to appeal. In February 2025, the Company received letters from the OWCP that additional guidance regarding the final rule will be provided at a future date.

The Company participates in the United Mine Workers of America (the "UMWA") Combined Benefit Fund and the UMWA 1992 Benefit Plan for which benefits are reflected in the Company's consolidated financial statements when paid. These benefit arrangements may result in additional liabilities that are not recognized on the Condensed Consolidated Balance Sheet at March 31, 2026. The various multi-employer benefit plans are discussed in Note 17 - Other Employee Benefit Plans in the Notes to the Audited Consolidated Financial Statements in Item 8 of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025. The Company's total contributions under the Coal Industry Retiree Health Benefit Act of 1992 were $1 million for both the three months ended March 31, 2026 and 2025. The Company also uses a combination of surety bonds, corporate guarantees and letters of credit to secure its financial obligations for employee-related, environmental, performance and various other items that are not reflected on the Condensed Consolidated Balance Sheet at March 31, 2026. Management believes these items will expire without being funded. See Note 14 - Commitments and Contingent Liabilities in the Notes to the Condensed Consolidated Financial Statements included in this Report for additional details of the various financial guarantees that have been issued by the Company.

***Cash Flows (in millions)***

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** | **Variance** |
| Net Cash Provided by (Used in) Operating Activities | $119 | $(110) | $229 |
| Net Cash (Used in) Provided by Investing Activities | $(80) | $283 | $(363) |
| Net Cash Used in Financing Activities | $(58) | $(42) | $(16) |

---

Net cash provided by (used in) operating activities changed by $229 million in the period-to-period comparison primarily due to the payment of non-recurring Merger-related expenditures in the three months ended March 31, 2025, increased segment earnings when compared to the prior year period and other working capital changes.

Net cash (used in) provided by investing activities changed by $363 million in the period-to-period comparison primarily due to cash acquired via the Merger, which was partially offset by the purchase of Arch's tax-exempt bonds, and the liquidation of the Company's remaining U.S. Treasury securities during the three months ended March 31, 2025, which resulted in net proceeds of $75 million.

Net cash used in financing activities increased by $16 million in the period-to-period comparison. Cash outflows related to share repurchases totaled $42 million in the three months ended March 31, 2026 compared to $101 million in the three months ended March 31, 2025. In connection with the Merger, the Company amended its Revolving Credit Facility and refinanced its tax-exempt bonds during the three months ended March 31, 2025. Proceeds of $114 million were

------

received in connection with the bond refinancing, and fees associated with these transactions amounted to $16 million. Additionally, dividend payments decreased by $6 million compared to the prior year period.

***Revolving Credit Facility***

In November 2017, the Company entered into a revolving credit facility with PNC Bank, N.A. ("PNC") (as amended, the "Revolving Credit Facility"). The Revolving Credit Facility has been amended several times, the most recent of which occurred in January 2025 in connection with the Merger. The January 2025 amendment increased the available revolving commitments from $355 million to $600 million and extended the scheduled maturity date to April 30, 2029, provided that, if any of the MEDCO Bonds or PEDFA Bonds (as defined below) and any subsequent refinancings thereof remain outstanding 91 days prior to their stated maturity and our specified liquidity, as measured under the Revolving Credit Facility, is less than $250 million at that time, the maturity date of the Revolving Credit Facility will be such date. Additionally, the Company reduced the applicable interest rate margin on its borrowings and letters of credit under the Revolving Credit Facility by 75 basis points.

Borrowings under the Revolving Credit Facility may be used for general corporate purposes, including working capital, capital expenditures and permitted acquisitions. Amounts repaid under the Revolving Credit Facility may be reborrowed, subject to satisfaction of the conditions to each credit extension. The Revolving Credit Facility provides that up to the full amount of the facility may be used for the issuance of letters of credit (the "Letters of Credit") by each lender under the Revolving Credit Facility, including Arch letters of credit that are deemed to be issued under the Revolving Credit Facility. The Company may increase the revolving credit commitments on the same terms or incur term "A" loans, in each case in an aggregate amount of up to $150 million.

Borrowings under the Revolving Credit Facility bear interest at a floating rate that is, at the Company's option, either (i) the applicable term Secured Overnight Financing Rate ("SOFR") plus a SOFR adjustment of 0.10% plus an applicable margin or (ii) an alternate base rate plus an applicable margin. The applicable margin for the Revolving Credit Facility ranges from 3.00% to 3.75% (for SOFR loans) and 2.00% to 2.75% (for alternate base rate loans), depending on the total net leverage ratio.

The Company's obligations under the Revolving Credit Facility are fully and unconditionally guaranteed by subsidiaries of the Company that own any portion of the Company's Pennsylvania Mining Complex, its marine terminal at the Port of Baltimore and specified coal reserves and, subject to certain customary exceptions, all other existing or future direct or indirect wholly-owned material restricted subsidiaries of the Company, including subsidiaries acquired pursuant to the Merger. The obligations under the Revolving Credit Facility are secured by, subject to certain exceptions (including a limitation on pledges of equity interests in certain subsidiaries and certain thresholds with respect to real property), a first-priority lien on the Company's and certain subsidiaries' significant assets.

The Revolving Credit Facility contains a number of customary affirmative covenants and a number of negative covenants, including (subject to certain exceptions) limitations on (among other things): indebtedness, liens, investments, acquisitions, asset dispositions, restricted payments, mergers, consolidations, divisions and other fundamental changes, transactions with affiliates and prepayments of junior indebtedness. The Revolving Credit Facility requires prepayment of Revolving Credit Loans and Swing Loans if (x) Excess Balance Sheet Cash is greater than $125 million and (y) the sum of Revolving Credit Loans, Swing Loans and Letter of Credit Obligations (other than in respect of undrawn Letters of Credit) is greater than 25% of the Revolving Credit Commitments, in each case as of the last day of any calendar month.

The Revolving Credit Facility also includes financial covenants, including (i) a maximum first lien gross leverage ratio, (ii) a maximum total net leverage ratio, and (iii) a minimum interest coverage ratio. Under the Revolving Credit Facility, the maximum first lien gross leverage ratio is 1.50 to 1.00, the maximum total net leverage ratio is 2.50 to 1.00 and the minimum interest coverage ratio is 3.00 to 1.00. The Revolving Credit Facility contains customary events of default, including failure to make payments when due, cross-default and cross-judgment default and certain bankruptcy and insolvency events.

The Company's first lien gross leverage ratio was 0.25 to 1.00 at March 31, 2026. The Company's total net leverage ratio was 0.07 to 1.00 at March 31, 2026. The Company's interest coverage ratio was 31.61 to 1.00 at March 31, 2026. The Company was in compliance with all covenants under the Revolving Credit Facility as of March 31, 2026.

At March 31, 2026, there were no borrowings outstanding under the Revolving Credit Facility and the facility is currently only used for providing letters of credit, with $110 million of letters of credit outstanding, leaving $490 million of unused capacity. From time to time, the Company is required to post financial assurances to satisfy contractual and other requirements generated in the normal course of business. Some of these assurances are posted to comply with federal, state or other government agencies' statutes and regulations. The Company sometimes uses letters of credit to satisfy these requirements, and these letters of credit reduce the Company's borrowing facility capacity.

------

***Receivables Financing Agreement***

Certain U.S. subsidiaries of the Company are parties to a trade accounts receivable securitization facility with financial institutions for the sale on a continuous basis of eligible trade accounts receivable. On July 28, 2025, the Company and certain of its subsidiaries entered into (i) that certain Receivables Financing Agreement (the "Receivables Financing Agreement"), by and among Core Receivable Company, LLC, as borrower ("Core Receivable"), Core Sales, LLC, as the initial servicer (the "Servicer"), PNC, as administrative agent and LC bank, PNC Capital Markets LLC ("PNC CM"), as structuring agent, and the lenders from time to time party thereto; (ii) that certain Third Amended and Restated Sale and Contribution Agreement (the "Sale and Contribution Agreement"), by and among Core Receivable, the Servicer and Arch, as transferor; (iii) that certain Third Amended and Restated Purchase and Sale Agreement (the "Purchase and Sale Agreement"), by and among Arch, the Servicer and the originators party thereto; and (iv) that certain Fifth Amended and Restated Performance Guaranty (the "Performance Guaranty" and, together with the Receivables Financing Agreement, the Sale and Contribution Agreement and the Purchase and Sale Agreement, the "Receivables Documents"), by the Company, in favor of PNC as administrative agent. With entry into the Receivables Documents, legacy Arch's securitization facility was amended and restated in its entirety to, among other things, consolidate facilities and extend the maturity date to July 27, 2028, and legacy CONSOL's securitization facility was terminated effective July 28, 2025.

Pursuant to the Receivables Documents, Core Sales, LLC; Mingo Logan Coal LLC; Mountain Coal Company, L.L.C.; ICG Beckley, LLC; ICG Tygart Valley, LLC; Wolf Run Mining LLC; Thunder Basin Coal Company, L.L.C.; CONSOL Pennsylvania Coal Company LLC; Core Marine Terminals LLC; and Itmann Mining Company LP, all wholly-owned subsidiaries of the Company, sell or contribute trade receivables to Core Receivable, a special purpose vehicle and wholly-owned subsidiary of the Company. Core Receivable, in turn, pledges its interests in the receivables to PNC and Regions Bank, each of which either makes loans or issues letters of credit on behalf of Core Receivable. The maximum amount of advances and letters of credit outstanding under the Receivables Financing Agreement may not exceed $250 million.

Loans under the Receivables Financing Agreement accrue interest at a reserve-adjusted market index rate equal to the applicable term SOFR plus ten basis points. Loans and letters of credit under the Receivables Financing Agreement also accrue a drawn fee and a letter of credit participation fee, respectively, of 2.00% per annum. In connection with the Receivables Financing Agreement, Core Receivable paid certain structuring fees to PNC CM and pays other customary fees to the lenders, including a fee on unused commitments equal to 0.60% per annum.

The Receivables Documents contain various customary representations and warranties, covenants and default provisions that provide for the termination and acceleration of the commitments and loans under the Receivables Financing Agreement in certain circumstances including, but not limited to, failure to make payments when due, breach of representation, warranty or covenant, certain insolvency events or failure to maintain the security interest in the trade receivables, and defaults under other material indebtedness. The Company guarantees the performance of the obligations of Arch; Core Sales, LLC; Mingo Logan Coal LLC; Mountain Coal Company, L.L.C.; ICG Beckley, LLC; ICG Tygart Valley, LLC; Wolf Run Mining LLC; Thunder Basin Coal Company, L.L.C.; CONSOL Pennsylvania Coal Company LLC; Core Marine Terminals LLC; and Itmann Mining Company LP under the securitization, and will guarantee the obligations of any additional originators or successor servicer that may become party to the Receivables Financing Agreement. However, neither the Company nor its affiliates will guarantee collectability of receivables or the creditworthiness of obligors thereunder.

At March 31, 2026, eligible accounts receivable yielded $191 million of borrowing capacity. At March 31, 2026, the Receivables Financing Agreement had no outstanding borrowings and approximately $158 million of letters of credit outstanding, leaving $33 million of unused capacity. The Company has not derecognized any receivables due to its continued involvement in the collections efforts.

***Series 2025 Bonds***

On March 27, 2025, the Company borrowed the proceeds of tax-exempt bonds issued by (i) the Pennsylvania Economic Development Financing Authority ("PEDFA") in the aggregate principal amount of $98 million (the "PEDFA Bonds"), at a fixed rate of 5.45% for an initial interest rate term of ten years on an unsecured basis, pursuant to a Bond Purchase Agreement, dated March 19, 2025, by and among Jefferies LLC, as the representative acting on behalf of itself, KeyBanc Capital Markets Inc., PNC CM, Goldman Sachs & Co. LLC, B. Riley Securities, Inc. and TCBI Securities, Inc. (collectively, the "Underwriters"), PEDFA and the Company; (ii) the Maryland Economic Development Corporation ("MEDCO") in the aggregate principal amount of $103 million (the "MEDCO Bonds"), at a fixed rate of 5.00% for an initial interest rate term of ten years on an unsecured basis, pursuant to a Bond Purchase Agreement, dated March 19, 2025, by and among the Underwriters, MEDCO and the Company; and (iii) the West Virginia Economic Development Authority ("WVEDA") in the aggregate principal amount of $106 million (the "WVEDA Bonds" and together with the PEDFA Bonds and the MEDCO Bonds, the "Series 2025 Bonds"), at a fixed rate of 5.45% for an initial interest rate term of ten

------

years on an unsecured basis, pursuant to a Bond Purchase Agreement, dated March 19, 2025, by and among the Underwriters, WVEDA and the Company.

The Company used (i) a portion of the proceeds of the PEDFA Bonds to finance and refinance the costs of acquisition, construction, improvement, installation and equipping of certain solid waste disposal facilities located at the Central Preparation Plant in West Finley, Pennsylvania in part by refunding in full PEDFA's outstanding $75 million Solid Waste Disposal Revenue Bonds, Series 2021A (CONSOL Energy Inc. Project), (ii) the proceeds from the MEDCO Bonds to refinance the costs of acquisition, construction, improvement, installation and equipping of certain improvements, modifications and additions to a coal transshipment terminal located in the Canton area of the Port of Baltimore by refunding in full MEDCO's outstanding $103 million Port Facilities Refunding Revenue Bonds (CNX Marine Terminals Inc. Port of Baltimore Facility) Series 2010 and (iii) a portion of the proceeds of the WVEDA Bonds to finance and refinance the costs of acquisition, construction, improvement, installation and equipping of certain solid waste disposal facilities relating to a longwall coal mining complex known as the Leer South Mine located in Barbour County, West Virginia in part by refunding in full WVEDA's outstanding $53 million Solid Waste Disposal Facility Revenue Bonds (Arch Resources Project), Series 2020 and $45 million Solid Waste Disposal Facility Revenue Bonds (Arch Resources Project), Series 2021.

The (i) PEDFA Bonds were issued pursuant to an indenture (the "PEDFA Indenture"), dated March 1, 2025, by and between PEDFA and Wilmington Trust, National Association, as trustee (the "Trustee"), and PEDFA made a loan of the proceeds of the PEDFA Bonds to the Company pursuant to a Loan Agreement, dated March 1, 2025 (the "PEDFA Loan Agreement"), between PEDFA and the Company; (ii) MEDCO Bonds were issued pursuant to an indenture (the "MEDCO Indenture"), dated March 1, 2025, by and between MEDCO and the Trustee, and MEDCO made a loan of the proceeds of the MEDCO Bonds to the Company pursuant to a Loan Agreement, dated March 1, 2025 (the "MEDCO Loan Agreement"), between MEDCO and the Company; and (iii) WVEDA Bonds were issued pursuant to an indenture (the "WVEDA Indenture" and together with the PEDFA Indenture and the MEDCO Indenture, the "Series 2025 Bonds Indentures"), dated March 1, 2025, by and between WVEDA and the Trustee, and WVEDA made a loan of the proceeds of the WVEDA Bonds to the Company pursuant to a Loan Agreement, dated as of March 1, 2025 (the "WVEDA Loan Agreement" and together with the PEDFA Loan Agreement and MEDCO Loan Agreement, the "Loan Agreements"), between WVEDA and the Company. Under the terms of the Loan Agreements, the Company agreed to make all payments of principal, interest and other amounts at any time due on the respective Series 2025 Bonds or under the respective Series 2025 Bonds Indentures.

***Material Cash Requirements***

The Company expects to make the following payments in the next 12 months:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• $72 million on its long-term debt and operating and finance lease obligations, including interest;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• $69 million on its employee-related long-term liabilities, including obligations that the Company has under multi-employer plans; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• $98 million on its environmental obligations and $165 million on its other current liabilities.

The Company believes it will be able to satisfy these material cash requirements with cash generated from operating activities, cash on hand, borrowings under the Revolving Credit Facility and Receivables Financing Agreement and, if necessary, cash generated from its ability to issue equity or debt securities.

***Debt***

At March 31, 2026, the Company had total long-term debt and finance lease obligations of $461 million outstanding, including the current portion of $43 million. This long-term debt consisted of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An aggregate principal amount of $132 million of finance leases with a weighted-average interest rate of 6.91%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An aggregate principal amount of $106 million of WVEDA Bonds, which were issued to finance a coal refuse disposal area at the Leer South mine, bear interest at 5.45% per annum for an initial interest rate term of ten years and mature in January 2055, but will be subject to mandatory tender in March 2035 at the end of the current interest rate term. Interest on the WVEDA Bonds is payable on April 1 and October 1 of each year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An aggregate principal amount of $103 million of MEDCO Bonds, which were issued to finance the Core Marine Terminal, bear interest at 5.00% per annum for an initial interest rate term of ten years and mature in July 2048,

------

but will be subject to mandatory tender in March 2035 at the end of the current interest rate term. Interest on the MEDCO Bonds is payable on February 1 and August 1 of each year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An aggregate principal amount of $98 million of PEDFA Bonds, which were issued to finance the ongoing expansion of the coal refuse disposal area at the Central Preparation Plant, bear interest at 5.45% per annum for an initial interest rate term of ten years and mature in January 2051, but will be subject to mandatory tender in March 2035 at the end of the current interest rate term. Interest on the PEDFA Bonds is payable on June 1 and December 1 of each year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Advanced royalty commitments of $11 million with a weighted-average interest rate of 8.04% per annum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An aggregate principal amount of $10 million of various equipment financing arrangements with a weighted-average interest rate of 7.22%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An aggregate principal amount of $2 million of other debt arrangements.

At March 31, 2026, the Company had no borrowings outstanding and approximately $110 million of letters of credit outstanding under the $600 million Revolving Credit Facility. At March 31, 2026, the Company had no borrowings outstanding and approximately $158 million of letters of credit outstanding under the Receivables Financing Agreement.

***Stock Repurchases***

On February 18, 2025, the Company's Board of Directors approved a capital return framework that involves a mix of dividends and share repurchases. The repurchase program permits the repurchase, from time to time, of the Company's outstanding shares of common stock in an aggregate amount of up to $1 billion, subject to certain covenants in the Revolving Credit Facility and the Series 2025 Bonds Indentures that limit the Company's ability to repurchase shares of its common stock.

During the three months ended March 31, 2026, the Company repurchased and retired 464,600 shares of the Company's common stock at an average price of $90.23 per share.

***Total Equity and Dividends***

Total equity attributable to the Company was $3,657 million at March 31, 2026 and $3,678 million at December 31, 2025. See the Condensed Consolidated Statements of Stockholders' Equity in this Report for additional details.

The declaration and payment of dividends by the Company is at the discretion of the Company's Board of Directors. The Revolving Credit Facility and the Series 2025 Bonds Indentures include certain covenants limiting the Company's ability to declare and pay dividends.

On May 7, 2026, the Company announced a $0.10 per share dividend in an aggregate amount of approximately $5.0 million, payable on June 12, 2026 to all stockholders of record as of May 29, 2026.

***Critical Accounting Estimates***

The Company prepares its financial statements in accordance with GAAP. The preparation of these financial statements requires management to make judgments, estimates and assumptions that affect the reported amount of assets, liabilities, revenues and expenses, as well as the disclosure of contingent assets and liabilities. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. There have been no material changes to the Company's critical accounting estimates from the Annual Report on Form 10-K for the year ended December 31, 2025.

***Forward-Looking Statements***

Certain statements in this Report are "forward-looking statements" within the meaning of the federal securities laws. With the exception of historical matters, the matters discussed in this Report are forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act")) that involve risks and uncertainties that could cause actual results and outcomes to differ materially from results expressed in or implied by our forward-looking statements. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenues, income and capital spending. When we use the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will," "would," or their negatives, or other similar expressions, the statements that include those words are usually forward-

------

looking statements. When we describe strategy that involves risks or uncertainties, we are making forward-looking statements. The forward-looking statements in this Report speak only as of the date of this Report. We disclaim any obligation to update these statements unless required by securities law, and we caution you not to rely on them unduly. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. These risks, contingencies and uncertainties relate to, among other matters, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• deterioration in economic conditions or changes in consumption patterns of our customers may decrease demand for our products, impair our ability to collect customer receivables and impair our ability to access capital;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• volatility and wide fluctuation in coal prices based upon a number of factors beyond our control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an extended decline in the prices we receive for our coal;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• significant downtime of our equipment or inability to obtain equipment, parts or raw materials;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• decreases in the availability of, or increases in the price of, commodities or capital equipment used in our coal mining operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our reliance on major customers, our ability to collect payment from our customers and uncertainty in connection with our customer contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our inability to acquire additional coal reserves or resources that are economically recoverable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• decreases in coal consumption patterns for steel production, electric power generation and industrial applications;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the availability and reliability of transportation facilities and other systems that deliver our coal to market and fluctuations in transportation costs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a loss of our competitive position;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• inflation that could result in higher costs and decreased profitability;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• foreign currency fluctuations that could adversely affect the competitiveness of our coal abroad;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• risks related to the fact that a significant portion of our production is sold in international markets (and may grow) and our compliance with export control and anti-corruption laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• coal users switching to other fuels in order to comply with various environmental standards related to coal combustion emissions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the impact of current and future regulations to address climate change, the discharge, disposal and clean-up of hazardous substances and wastes and employee health and safety on our operating costs as well as on the market for coal;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the risks inherent in coal operations, including being subject to unexpected disruptions caused by adverse geological conditions, equipment failure, delays in moving longwall equipment, railroad derailments or strikes, security breaches or terroristic acts and other hazards, delays in the completion of significant construction or repair of equipment, fires, explosions, seismic activities, accidents and weather conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• failure to obtain or renew surety bonds, letters of credit or insurance coverages on acceptable terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the effects of coordinating our operations with oil and natural gas drillers and distributors operating on our land;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our inability to obtain financing for capital expenditures on satisfactory terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the effects of our securities being excluded from certain investment funds as a result of environmental, social and corporate governance ("ESG") practices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the effects of global conflicts on commodity prices and supply chains;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the effect of new or existing laws, regulations, tariffs, executive orders or other trade measures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our inability to find suitable joint venture partners, acquisition targets or similar investments or integrating the operations of future acquisitions or investments into our operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• obtaining, maintaining and renewing government permits and approvals for our coal operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the effects of asset retirement obligations, employee-related long-term liabilities and certain other liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• uncertainties in estimating our economically recoverable coal reserves;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• defects in our chain of title for our undeveloped reserves or failure to acquire additional property to perfect our title to coal rights;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the outcomes of various legal proceedings, including those which are more fully described herein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the risk of our debt agreements, our debt and changes in interest rates affecting our operating results and cash flows;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• information theft, data corruption, operational disruption and/or financial loss resulting from a terrorist attack or cyber incident;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the potential failure to retain and attract qualified personnel of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• failure to maintain effective internal control over financial reporting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• uncertainty with respect to the Company's common stock, potential stock price volatility and future dilution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• uncertainty regarding the timing and value of any dividends we may declare;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• uncertainty as to whether we will repurchase shares of our common stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• inability of stockholders to bring legal action against us in any forum other than the state courts of Delaware;

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the risk that the businesses of the Company and Arch will not be integrated successfully after the closing of the Merger;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the risk that the anticipated benefits of the Merger may not be realized or may take longer to realize than expected; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• other unforeseen factors.

The above list of factors is not exhaustive or necessarily in order of importance. Additional information concerning factors that could cause actual results to differ materially from those in forward-looking statements include those discussed under "*Risk Factors*" elsewhere in this Report and the other filings we make with the Securities and Exchange Commission ("SEC"). The Company disclaims any intention or obligation to update publicly any forward-looking statements, whether in response to new information, future events, or otherwise, except as required by applicable law.

**ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK**

The Company's exposures to market risk have not materially changed since December 31, 2025. Please see these quantitative and qualitative disclosures about market risk in Item 7A, "Quantitative and Qualitative Disclosures About Market Risk," of our Annual Report on Form 10-K for the year ended December 31, 2025.

**ITEM 4. CONTROLS AND PROCEDURES**

***Disclosure Controls and Procedures***

The Company, under the supervision and with the participation of its management, including the Company's principal executive officer and principal financial officer, evaluated the effectiveness of the Company's "disclosure controls and procedures," as such term is defined in Rule 13a-15(e) under the Exchange Act, as of the end of the period covered by this Report. Based on that evaluation, the Company's principal executive officer and principal financial officer have concluded that the Company's disclosure controls and procedures were effective as of March 31, 2026 to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and includes controls and procedures designed to ensure that information required to be disclosed by the Company in such reports is accumulated and communicated to the Company's management, including the Company's principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.

***Changes in Internal Control over Financial Reporting***

During the fiscal quarter covered by this Report, there were no changes in the Company's internal control over financial reporting, as such term is defined in Rule 13a-15(f) of the Exchange Act, that materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.

It should be noted that any system of controls, however well designed and operated, can provide only reasonable, and not absolute, assurance that the objectives of the system will be met. In addition, the design of any control system is based in part upon certain assumptions about the likelihood of future events.

------

**PART II. OTHER INFORMATION**

**ITEM 1. LEGAL PROCEEDINGS**

Our operations are subject to a variety of risks and disputes normally incidental to our business. As a result, we may, at any given time, be a defendant in various legal proceedings and litigation arising in the ordinary course of business. We are not currently subject to any material litigation other than those described in Note 14—Commitments and Contingent Liabilities in the Notes to the Condensed Consolidated Financial Statements in this Report, which descriptions are incorporated herein by this reference.

SEC regulations require us to disclose certain information about environmental proceedings if we reasonably believe that such proceedings may result in monetary sanctions above a stated threshold. We use a threshold of $1 million for purposes of determining whether disclosure of any such proceedings is required, as permitted pursuant to Item 103(c)(3)(iii) of Regulation S-K. No such environmental proceedings were pending or contemplated as of March 31, 2026.

**ITEM 1A. RISK FACTORS**

In addition to the other information set forth in this Report, you should carefully consider the factors described in Part I - Item 1A. "Risk Factors" of the Company's Annual Report on Form 10-K for the year ended December 31, 2025. These described risks are not the only risks the Company faces. Additional risks and uncertainties not currently known to Core or that the Company currently deems to be immaterial also may materially adversely affect Core's business, results of operations, financial condition and cash flows.

**ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS**

The following table sets forth repurchases of shares of the Company's common stock during the three months ended March 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Period | Total Number of Shares Purchased <sup>(a)</sup> | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs (000s omitted) <sup>(b)(c)</sup> |
| January 1, 2026 - January 31, 2026 |  |  |  | $775736 |
| February 1, 2026 - February 28, 2026 | 206010 | $86.97 | 206010 | $757819 |
| March 1, 2026 - March 31, 2026 | 258590 | $92.83 | 258590 | $733813 |
| Total | 464600 | $90.23 | 464600 |  |

---

(a) On February 18, 2025, the Company's Board of Directors approved a capital return framework that involves a mix of dividends and share repurchases. The repurchase program permits the repurchase, from time to time, of the Company's outstanding shares of common stock in an aggregate amount of up to $1 billion, subject to certain covenants in the Revolving Credit Facility and the Series 2025 Bonds Indentures that limit the Company's ability to repurchase shares of its common stock. The repurchases will be effected from time to time on the open market, in privately negotiated transactions or under a Rule 10b5-1 plan. The program does not obligate the Company to acquire any particular amount of its common stock, and the program can be modified or suspended at any time at the Company's discretion.

(b) Management cannot estimate the number of shares that will be repurchased because purchases are made based upon the Company's stock price, the Company's financial outlook and alternative investment options.

(c) In the three months ended March 31, 2026, the Company utilized approximately $42 million to repurchase shares of its common stock.

***Limitation on Payment of Dividends***

The declaration and payment of dividends by the Company is at the discretion of the Company's Board of Directors. The Revolving Credit Facility and the Series 2025 Bonds Indentures include certain covenants limiting the Company's ability to declare and pay dividends. See "Total Equity and Dividends" in Part I, Item 2 of this Report for additional information.

**ITEM 3. DEFAULTS UPON SENIOR SECURITIES**

None.

------

**ITEM 4. MINE SAFETY DISCLOSURES**

The information concerning mine safety violations or other regulatory matters required by Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 104 of Regulation S-K is included in Exhibit 95 to this Report.

**ITEM 5. OTHER INFORMATION**

***Rule 10b5-1 Trading Plans***

Our executive officers and directors may from time to time enter into plans or arrangements for the purchase or sale of our common stock that are intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. Except as outlined below, during the three months ended March 31, 2026, no director or officer of the Company adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408 of Regulation S-K:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• On March 2, 2026, Robert J. Braithwaite, Senior Vice President, Marketing and Sales, adopted a Rule 10b5-1 trading arrangement for the sale of up to 4,500 shares of our common stock, subject to certain conditions. The arrangement's expiration date is June 2, 2027, for a duration of 458 days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• On March 5, 2026, Kurt R. Salvatori, Senior Vice President, Chief Administrative Officer, adopted a Rule 10b5-1 trading arrangement for the sale of up to 11,265 shares of our common stock, subject to certain conditions. The arrangement's expiration date is June 7, 2027, for a duration of 460 days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• On March 20, 2026, James A. Brock, Chair and Chief Executive Officer, adopted a Rule 10b5-1 trading arrangement for the sale of up to 100,000 shares of our common stock, subject to certain conditions. The arrangement's expiration date is November 30, 2026, for a duration of 256 days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• On March 25, 2026, Rosemary L. Klein, Senior Vice President, Chief Legal Officer and Corporate Secretary, adopted a Rule 10b5-1 trading arrangement for the sale of up to 7,500 shares of our common stock, subject to certain conditions. The arrangement's expiration date is June 24, 2027, for a duration of 457 days.

**ITEM 6. EXHIBITS**

---

| | | |
|:---|:---|:---|
| **Exhibits** | **Description** | **Method of Filing** |
| <u>[2.1](https://www.sec.gov/Archives/edgar/data/1710366/000119312517359478/d425989dex21.htm)</u> | Separation and Distribution Agreement, dated as of November 28, 2017, by and between the Company and CNX | Filed as Exhibit 2.1 to Form 8-K (File No. 001-38147) filed on December 4, 2017 |
| <u>[2.2](https://www.sec.gov/Archives/edgar/data/1710366/000119312517359478/d425989dex22.htm)</u> | Tax Matters Agreement, dated as of November 28, 2017, by and between the Company and CNX | Filed as Exhibit 2.2 to Form 8-K (File No. 001-38147) filed on December 4, 2017 |
| <u>[2.3](https://www.sec.gov/Archives/edgar/data/1710366/000119312517359478/d425989dex23.htm)</u> | Employee Matters Agreement, dated as of November 28, 2017, by and between the Company and CNX | Filed as Exhibit 2.3 to Form 8-K (File No. 001-38147) filed on December 4, 2017 |
| <u>[2.4](https://www.sec.gov/Archives/edgar/data/1710366/000119312517359478/d425989dex24.htm)</u> | Intellectual Property Matters Agreement, dated as of November 28, 2017, by and between the Company and CNX | Filed as Exhibit 2.4 to Form 8-K (File No. 001-38147) filed on December 4, 2017 |
| <u>[2.5](https://www.sec.gov/Archives/edgar/data/1710366/000119312520274830/d32099dex21.htm)</u>\*\* | Agreement and Plan of Merger, dated as of October 22, 2020, by and among CONSOL Energy Inc., Transformer LP Holdings Inc., Transformer Merger Sub LLC, CONSOL Coal Resources LP and CONSOL Coal Resources GP LLC | Filed as Exhibit 2.1 to Form 8-K (File No. 001-38147) filed on October 23, 2020 |
| <u>[2.6](https://www.sec.gov/Archives/edgar/data/1710366/000119312524204027/d870544dex21.htm)</u> | Agreement and Plan of Merger, dated August 20, 2024, among CONSOL Energy Inc., Mountain Range Merger Sub Inc. and Arch Resources, Inc.# | Filed as Exhibit 2.1 to Form 8-K (File No. 001-38147) filed on August 21, 2024 |
| <u>[2.7](https://www.sec.gov/Archives/edgar/data/1037676/000110465916144709/a16-18078_2ex2d1.htm)</u> | Debtors' Fourth Amended Joint Plan of Reorganization Under Chapter 11 of the Bankruptcy Code | Filed as Exhibit 2.1 to Arch Resources' Form 8-K (File No. 001-13105) filed on September 15, 2016 |
| <u>[2.8](https://www.sec.gov/Archives/edgar/data/1037676/000110465916144709/a16-18078_2ex2d2.htm)</u> | Order Confirming Debtors' Fourth Amended Joint Plan of Reorganization Under Chapter 11 of the Bankruptcy Code on September 13, 2016 | Filed as Exhibit 2.2 to Arch Resources' Form 8-K (File No. 001-13105) filed on September 15, 2016 |
| <u>[3.1](https://www.sec.gov/Archives/edgar/data/1710366/000119312517359478/d425989dex31.htm)</u> | Amended and Restated Certificate of Incorporation of the Company | Filed as Exhibit 3.1 to Form 8-K (File No. 001-38147) filed on December 4, 2017 |
| <u>[3.2](https://www.sec.gov/Archives/edgar/data/1710366/000119312520137699/d927342dex31.htm)</u> | Certificate of Amendment to Amended and Restated Certificate of Incorporation of the Company | Filed as Exhibit 3.1 to Form 8-K (File No. 001-38147) filed on May 8, 2020 |

---

------

---

| | | |
|:---|:---|:---|
| **Exhibits** | **Description** | **Method of Filing** |
| <u>[3.3](https://www.sec.gov/Archives/edgar/data/1710366/000119312524131996/d828922dex31.htm)</u> | Second Certificate of Amendment to Amended and Restated Certificate of Incorporation of the Company | Filed as Exhibit 3.1 to Form 8-K (File No. 001-38147) filed on May 6, 2024 |
| <u>[3.4](https://www.sec.gov/Archives/edgar/data/1710366/000119312525007135/d836647dex31.htm)</u> | Certificate of Amendment to Amended and Restated Certificate of Incorporation of the Company | Filed as Exhibit 3.1 to Form 8-K (File No. 001-38147) filed on January 15, 2025 |
| <u>[3.5](https://www.sec.gov/Archives/edgar/data/1710366/000119312525007135/d836647dex32.htm)</u> | Fourth Amended and Restated Bylaws of the Company | Filed as Exhibit 3.2 to Form 8-K (File No. 001-38147) filed on January 15, 2025 |
| <u>[4.1](https://www.sec.gov/Archives/edgar/data/1710366/000119312517344179/d492815dex41.htm)</u> | Indenture dated as of November 13, 2017 by and between CONSOL Energy Inc. (formerly known as CONSOL Mining Corporation) and UMB Bank, N.A., as Trustee and Collateral Trustee (including form of supplemental indenture on subsidiary guarantors). | Filed as Exhibit 4.1 to Form 8-K (File No. 001-38147) filed on November 15, 2017 |
| <u>[4.2](https://www.sec.gov/Archives/edgar/data/1710366/000171036625000010/exhibit42-q42024.htm)</u> | Description of Capital Stock | Filed as Exhibit 4.2 to Form 10-K (File No. 001-38147) filed on February 20, 2025 |
| <u>[10.1](https://www.sec.gov/Archives/edgar/data/1710366/000119312517359478/d425989dex101.htm)</u> | Transition Services Agreement, dated as of November 28, 2017, by and between the Company and CNX | Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on December 4, 2017 |
| <u>[10.2](https://www.sec.gov/Archives/edgar/data/1710366/000119312517359478/d425989dex102.htm)</u> | CNX Resources Corporation to CONSOL Energy Inc. Trademark License Agreement dated as of November 28, 2017, by and between the Company and CNX | Filed as Exhibit 10.2 to Form 8-K (File No. 001-38147) filed on December 4, 2017 |
| <u>[10.3](https://www.sec.gov/Archives/edgar/data/1710366/000119312517359478/d425989dex103.htm)</u> | CONSOL Energy Inc. to CNX Resources Corporation Trademark License Agreement, dated as of November 28, 2017, by and between the Company and CNX | Filed as Exhibit 10.3 to Form 8-K (File No. 001-38147) filed on December 4, 2017 |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000119312517359478/d425989dex106.htm)[4](https://www.sec.gov/Archives/edgar/data/1710366/000119312517359478/d425989dex106.htm)</u> | First Amendment to Water Supply and Services Agreement, dated as of November 28, 2017 by and between CNX Water Assets LLC and CONSOL Thermal Holdings LLC (formerly known as CNX Thermal Holdings LLC) | Filed as Exhibit 10.6 to Form 8-K (File No. 001-38147) filed on December 4, 2017 |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000119312517359478/d425989dex107.htm)[5](https://www.sec.gov/Archives/edgar/data/1710366/000119312517359478/d425989dex107.htm)</u> | Second Amendment to the Pennsylvania Mine Complex Operating Agreement, dated as of November 28, 2017, by and among CONSOL Pennsylvania Coal Company LLC, Conrhein Coal Company, CONSOL Thermal Holdings LLC and CONSOL Coal Resources LP | Filed as Exhibit 10.7 to Form 8-K (File No. 001-38147) filed on December 4, 2017 |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000119312517359478/d425989dex108.htm)[6](https://www.sec.gov/Archives/edgar/data/1710366/000119312517359478/d425989dex108.htm)</u> | Credit Agreement, dated as of November 28, 2017, by and among the Company, the various financial institutions from time to time party thereto, PNC Bank, N.A., as administrative agent for the Revolving Lenders and Term A Lenders, Citibank, N.A., as administrative agent for the Term B Lenders and PNC Bank, N.A., as collateral agent for the Lenders and the other Secured Parties referred to therein# | Filed as Exhibit 10.8 to Form 8-K (File No. 001-38147) filed on December 4, 2017 |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000119312519096630/d729375dex101.htm)[7](https://www.sec.gov/Archives/edgar/data/1710366/000119312519096630/d729375dex101.htm)</u> | Amendment No. 1, dated as of March 28, 2019, to Credit Agreement, dated as of November 28, 2017, among the Company, the various financial institutions from time to time party thereto, PNC Bank, N.A., as administrative agent for the Revolving Lenders and Term A Lenders, Citibank, N.A., as administrative agent for the Term B Lenders and PNC Bank, N.A., as collateral agent for the Lenders and the Other Secured Parties referred to therein# | Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on April 3, 2019 |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000119312520166686/d941991dex101.htm)[8](https://www.sec.gov/Archives/edgar/data/1710366/000119312520166686/d941991dex101.htm)</u> | Amendment No. 2, dated as of June 5, 2020, to Credit Agreement, dated as of November 28, 2017, among the Company, the various financial institutions from time to time party thereto, PNC Bank, N.A., as administrative agent for the Revolving Lenders and Term A Lenders, Citibank, N.A., as administrative agent for the Term B Lenders and PNC Bank, N.A., as collateral agent for the Lenders and the Other Secured Parties referred to therein# | Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on June 11, 2020 |

---

------

---

| | | |
|:---|:---|:---|
| **Exhibits** | **Description** | **Method of Filing** |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000119312521102398/d107361dex101.htm)[9](https://www.sec.gov/Archives/edgar/data/1710366/000119312521102398/d107361dex101.htm)</u> | Amendment No. 3, dated as of March 29, 2021, to Credit Agreement, dated as of November 28, 2017, among the Company, the various financial institutions from time to time party thereto, PNC Bank, N.A., as administrative agent for the Revolving Lenders and Term A Lenders, Citibank, N.A., as administrative agent for the Term B Lenders and PNC Bank, N.A., as collateral agent for the Lenders and the Other Secured Parties referred to therein# | Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on March 31, 2021 |
| <u>[10.1](https://www.sec.gov/Archives/edgar/data/1710366/000119312522200179/d367430dex101.htm)[0](https://www.sec.gov/Archives/edgar/data/1710366/000119312522200179/d367430dex101.htm)</u> | Amendment No. 4, dated as of July 18, 2022, to Credit Agreement, dated as of November 28, 2017, among the Company, the various financial institutions from time to time party thereto, PNC Bank, N.A., as administrative agent for the Revolving Lenders and Term A Lenders, Citibank, N.A., as administrative agent for the Term B Lenders and PNC Bank, N.A., as collateral agent for the Lenders and the Other Secured Parties referred to therein# | Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on July 25, 2022 |
| <u>[10.1](https://www.sec.gov/Archives/edgar/data/1710366/000119312523165658/d516475dex101.htm)[1](https://www.sec.gov/Archives/edgar/data/1710366/000119312523165658/d516475dex101.htm)</u> | Amendment No. 5, dated as of June 12, 2023, to Credit Agreement, dated as of November 28, 2017, among the Company, the various financial institutions from time to time party thereto, PNC Bank, N.A., as administrative agent for the Revolving Lenders and Term A Lenders, Citibank, N.A., as administrative agent for the Term B Lenders and PNC Bank, N.A., as collateral agent for the Lenders and the Other Secured Parties referred to therein# | Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on June 13, 2023 |
| <u>[10.1](https://www.sec.gov/Archives/edgar/data/1710366/000119312525007135/d836647dex101.htm)[2](https://www.sec.gov/Archives/edgar/data/1710366/000119312525007135/d836647dex101.htm)</u> | Amendment No. 6, dated as of January 14, 2025, to Credit Agreement, dated as of November 28, 2017, among the Company, the various financial institutions from time to time party thereto, PNC Bank, N.A., as administrative agent for the Revolving Lenders and Term A Lenders, Citibank, N.A., as administrative agent for the Term B Lenders and PNC Bank, N.A., as collateral agent for the Lenders and the Other Secured Parties referred to therein# | Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on January 15, 2025 |
| <u>[10.1](https://www.sec.gov/Archives/edgar/data/1710366/000119312517350722/d493684dex43.htm)[3](https://www.sec.gov/Archives/edgar/data/1710366/000119312517350722/d493684dex43.htm)</u> | CONSOL Energy Inc. Omnibus Performance Incentive Plan\* | Filed as Exhibit 4.3 to Form S-8 (File No. 333-221727) filed on November 22, 2017 |
| <u>[10.1](https://www.sec.gov/Archives/edgar/data/1710366/000119312517323074/d417562dex105.htm)[4](https://www.sec.gov/Archives/edgar/data/1710366/000119312517323074/d417562dex105.htm)</u> | Second Amendment and Restatement of Master Cooperation and Safety Agreement by and among CONSOL Energy Inc., CNX Gas Company LLC, CNX Resources Holdings LLC and certain other parties thereto | Filed as Exhibit 10.5 to Form 10-12B/A (File No. 001-38147) filed on October 27, 2017 |
| 10.15 | Coal Lease Agreement dated as of March 31, 1992, among Allegheny Land Company, as lessee, and UAC and Phoenix Coal Corporation, as lessors, and related guarantee | Filed by Ashland Coal, Inc. on Form 8-K on April 6, 1992 |
| <u>[10.1](https://www.sec.gov/Archives/edgar/data/1037676/0000950124-99-001626.txt)[6](https://www.sec.gov/Archives/edgar/data/1037676/0000950124-99-001626.txt)</u> | Federal Coal Lease dated as of January 24, 1996 between the U.S. Department of the Interior and the Thunder Basin Coal Company | Filed as Exhibit 10.20 to Arch Resources' Form 10-K (File No. 001-13105) for the year ended December 31, 1998 filed on March 2, 1999 |
| <u>[10.1](https://www.sec.gov/Archives/edgar/data/1037676/0000950124-99-001626.txt)[7](https://www.sec.gov/Archives/edgar/data/1037676/0000950124-99-001626.txt)</u> | Federal Coal Lease dated as of November 1, 1967 between the U.S. Department of the Interior and the Thunder Basin Coal Company | Filed as Exhibit 10.21 to Arch Resources' Form 10-K (File No. 001-13105) for the year ended December 31, 1998 filed on March 2, 1999 |
| <u>[10.1](https://www.sec.gov/Archives/edgar/data/1037676/0000950124-99-001626.txt)[8](https://www.sec.gov/Archives/edgar/data/1037676/0000950124-99-001626.txt)</u> | Federal Coal Lease effective as of June 9, 1995 between the U.S. Department of the Interior and Mountain Coal Company | Filed as Exhibit 10.22 to Arch Resources' Form 10-K (File No. 001-13105) for the year ended December 31, 1998 filed on March 2, 1999 |

---

------

---

| | | |
|:---|:---|:---|
| **Exhibits** | **Description** | **Method of Filing** |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1037676/0000950124-99-001626.txt)[19](https://www.sec.gov/Archives/edgar/data/1037676/0000950124-99-001626.txt)</u> | Federal Coal Lease dated as of January 1, 1999 between the U.S. Department of the Interior and Ark Land Company | Filed as Exhibit 10.23 to Arch Resources' Form 10-K (File No. 001-13105) for the year ended December 31, 1998 filed on March 2, 1999 |
| <u>[10.2](https://www.sec.gov/Archives/edgar/data/1037676/000095013705001513/c92067exv99w1.htm)[0](https://www.sec.gov/Archives/edgar/data/1037676/000095013705001513/c92067exv99w1.htm)</u> | Federal Coal Lease effective as of March 1, 2005 by and between the United States of America and Ark Land LT, Inc. covering the tract of land known as "Little Thunder" in Campbell County, Wyoming | Filed as Exhibit 99.1 to Arch Resources' Form 8-K (File No. 001-13105) filed on February 10, 2005 |
| <u>[10.2](https://www.sec.gov/Archives/edgar/data/1037676/000095013705002871/c91583exv10w24.txt)[1](https://www.sec.gov/Archives/edgar/data/1037676/000095013705002871/c91583exv10w24.txt)</u> | Modified Coal Lease (WYW71692) executed January 1, 2003 by and between the United States of America, through the Bureau of Land Management, as lessor, and Triton Coal Company, LLC, as lessee, covering a tract of land known as "North Rochelle" in Campbell County, Wyoming | Filed as Exhibit 10.24 to Arch Resources' Form 10-K (File No. 001-13105) for the year ended December 31, 2004 filed on March 11, 2005 |
| <u>[10.2](https://www.sec.gov/Archives/edgar/data/1037676/000095013705002871/c91583exv10w25.txt)[2](https://www.sec.gov/Archives/edgar/data/1037676/000095013705002871/c91583exv10w25.txt)</u> | Coal Lease (WYW127221) executed January 1, 1998 by and between the United States of America, through the Bureau of Land Management, as lessor, and Triton Coal Company, LLC, as lessee, covering a tract of land known as "North Roundup" in Campbell County, Wyoming | Filed as Exhibit 10.25 to Arch Resources' Form 10-K (File No. 001-13105) for the year ended December 31, 2004 filed on March 11, 2005 |
| <u>[10.2](https://www.sec.gov/Archives/edgar/data/1710366/000171036618000024/ceixexhibit102q32018.htm)[3](https://www.sec.gov/Archives/edgar/data/1710366/000171036618000024/ceixexhibit102q32018.htm)</u> | CONSOL Energy Inc. Deferred Compensation Plan for Non-Employee Directors\* | Filed as Exhibit 10.2 to Form 10-Q (File No. 001-38147) filed on November 1, 2018 |
| <u>[10.2](https://www.sec.gov/Archives/edgar/data/1710366/000171036618000012/exhibit101.htm)[4](https://www.sec.gov/Archives/edgar/data/1710366/000171036618000012/exhibit101.htm)</u> | Employment Agreement of James A. Brock\* | Filed as Exhibit 10.1 to Form 10-Q (File No. 001-38147) filed on May 3, 2018 |
| <u>[10.2](https://www.sec.gov/Archives/edgar/data/1710366/000171036618000012/exhibit105.htm)[5](https://www.sec.gov/Archives/edgar/data/1710366/000171036618000012/exhibit105.htm)</u> | Change in Control Severance Agreement for Kurt Salvatori\* | Filed as Exhibit 10.5 to Form 10-Q (File No. 001-38147) filed on May 3, 2018 |
| <u>[10.2](https://www.sec.gov/Archives/edgar/data/1710366/000171036618000012/exhibit106.htm)[6](https://www.sec.gov/Archives/edgar/data/1710366/000171036618000012/exhibit106.htm)</u> | Change in Control Severance Agreement for John Rothka\* | Filed as Exhibit 10.6 to Form 10-Q (File No. 001-38147) filed on May 3, 2018 |
| <u>[10.2](https://www.sec.gov/Archives/edgar/data/1037676/000104746912001909/a2207536zex-10_4.htm)[7](https://www.sec.gov/Archives/edgar/data/1037676/000104746912001909/a2207536zex-10_4.htm)</u> | Form of Employment Agreement for Executive Officers of Arch and assumed by Core\* | Filed as Exhibit 10.4 of Arch Resources' Form 10-K (File No. 001-13105) for the year ended December 31, 2011 filed on February 29, 2012 |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000171036618000012/exhibit107.htm)[28](https://www.sec.gov/Archives/edgar/data/1710366/000171036618000012/exhibit107.htm)</u> | Form Notice of Restricted Stock Unit Award and Terms and Conditions\* | Filed as Exhibit 10.7 to Form 10-Q (File No. 001-38147) filed on May 3, 2018 |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000171036618000012/exhibit108.htm)[29](https://www.sec.gov/Archives/edgar/data/1710366/000171036618000012/exhibit108.htm)</u> | Form Notice of Performance-based Restricted Stock Unit Award and Terms and Conditions\* | Filed as Exhibit 10.8 to Form 10-Q (File No. 001-38147) filed on May 3, 2018 |
| <u>[10.3](https://www.sec.gov/Archives/edgar/data/1710366/000171036618000012/exhibit109.htm)[0](https://www.sec.gov/Archives/edgar/data/1710366/000171036618000012/exhibit109.htm)</u> | Form Notice of Restricted Stock Unit Award and Terms and Conditions for Spin Recognition (Non-Employee Director)\* | Filed as Exhibit 10.9 to Form 10-Q (File No. 001-38147) filed on May 3, 2018 |
| <u>[10.3](https://www.sec.gov/Archives/edgar/data/1710366/000171036618000012/exhibit1010.htm)[1](https://www.sec.gov/Archives/edgar/data/1710366/000171036618000012/exhibit1010.htm)</u> | Form Notice of Restricted Stock Unit Award and Terms and Conditions for Spin Recognition\* | Filed as Exhibit 10.10 to Form 10-Q (File No. 001-38147) filed on May 3, 2018 |
| <u>[10.3](https://www.sec.gov/Archives/edgar/data/1710366/000171036619000010/ceixexhibit104q12019.htm)[2](https://www.sec.gov/Archives/edgar/data/1710366/000171036619000010/ceixexhibit104q12019.htm)</u> | Form Notice of Restricted Stock Unit Award and Terms and Conditions\* | Filed as Exhibit 10.4 to Form 10-Q (File No. 001-38147) filed on May 8, 2019 |
| <u>[10.3](https://www.sec.gov/Archives/edgar/data/1710366/000171036619000010/ceixexhibit105q12019.htm)[3](https://www.sec.gov/Archives/edgar/data/1710366/000171036619000010/ceixexhibit105q12019.htm)</u> | Form Notice of Performance-based Restricted Stock Unit Award and Terms and Conditions\* | Filed as Exhibit 10.5 to Form 10-Q (File No. 001-38147) filed on May 8, 2019 |
| <u>[10.3](https://www.sec.gov/Archives/edgar/data/1710366/000143774922003140/ex_333482.htm)[4](https://www.sec.gov/Archives/edgar/data/1710366/000143774922003140/ex_333482.htm)</u> | Change in Control Severance Agreement for Miteshkumar Thakkar\* | Filed as Exhibit 10.30 to Form 10-K (File No. 001-38147) filed on February 11, 2022 |
| <u>[10.3](https://www.sec.gov/Archives/edgar/data/1710366/000171036620000011/ceixexhibit103q12020.htm)[5](https://www.sec.gov/Archives/edgar/data/1710366/000171036620000011/ceixexhibit103q12020.htm)</u> | Form of Notice of Restricted Stock Unit Award Terms and Conditions\* | Filed as Exhibit 10.3 to Form 10-Q (File No. 001-38147) filed on May 11, 2020 |
| <u>[10.3](https://www.sec.gov/Archives/edgar/data/1710366/000171036620000011/ceixexhibit104q12020.htm)[6](https://www.sec.gov/Archives/edgar/data/1710366/000171036620000011/ceixexhibit104q12020.htm)</u> | Form of Notice of Performance-Based Restricted Stock Unit Award Terms and Conditions for James A. Brock\*# | Filed as Exhibit 10.4 to Form 10-Q (File No. 001-38147) filed on May 11, 2020 |
| <u>[10.3](https://www.sec.gov/Archives/edgar/data/1710366/000171036620000011/ceixexhibit105q12020.htm)[7](https://www.sec.gov/Archives/edgar/data/1710366/000171036620000011/ceixexhibit105q12020.htm)</u> | Form of Notice of Performance-Based Cash Award\*# | Filed as Exhibit 10.5 to Form 10-Q (File No. 001-38147) filed on May 11, 2020 |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000119312520139230/d898661dex44.htm)[38](https://www.sec.gov/Archives/edgar/data/1710366/000119312520139230/d898661dex44.htm)</u> | CONSOL Energy Inc. 2020 Amended and Restated Omnibus Performance Incentive Plan\* | Filed as Exhibit 4.4 to Registration Statement on Form S-8 (file No. 333-238173) filed on May 11, 2020 |

---

------

---

| | | |
|:---|:---|:---|
| **Exhibits** | **Description** | **Method of Filing** |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000143774920017174/ex_198211.htm)[39](https://www.sec.gov/Archives/edgar/data/1710366/000143774920017174/ex_198211.htm)</u> | Form of Notice of Restricted Stock Unit Award Terms and Conditions for Non-Employee Directors\* | Filed as Exhibit 10.5 to Form 10-Q (File No. 001-38147) filed on August 10, 2020 |
| <u>[10.4](https://www.sec.gov/Archives/edgar/data/1710366/000143774921010683/ex_243623.htm)[0](https://www.sec.gov/Archives/edgar/data/1710366/000143774921010683/ex_243623.htm)</u> | Form Notice of Performance-based Cash Award and Terms and Conditions\* | Filed as Exhibit 10.2 to Form 10-Q (File No. 001-38147) filed on May 4, 2021 |
| <u>[10.4](https://www.sec.gov/Archives/edgar/data/1710366/000143774921010683/ex_243628.htm)[1](https://www.sec.gov/Archives/edgar/data/1710366/000143774921010683/ex_243628.htm)</u> | Form Notice of Performance-based Market Share Unit Award and Terms and Conditions\* | Filed as Exhibit 10.3 to Form 10-Q (File No. 001-38147) filed on May 4, 2021 |
| <u>[10.4](https://www.sec.gov/Archives/edgar/data/1710366/000143774921018214/ex_267593.htm)[2](https://www.sec.gov/Archives/edgar/data/1710366/000143774921018214/ex_267593.htm)</u> | Form of Notice of Restricted Stock Unit Award Terms and Conditions for Non-Employee Directors\* | Filed as Exhibit 10.1 to Form 10-Q (File No. 001-38147) filed on August 3, 2021 |
| <u>[10.4](https://www.sec.gov/Archives/edgar/data/1710366/000119312520330589/d13716dex45.htm)[3](https://www.sec.gov/Archives/edgar/data/1710366/000119312520330589/d13716dex45.htm)</u> | Amendment to CONSOL Energy Inc. 2020 Amended and Restated Omnibus Performance Incentive Plan, effective as of December 30, 2020 (incorporated by reference to Exhibit 4.5 to the Company's Registration Statement on Form S-8 filed on December 31, 2020) | Filed as Exhibit 4.5 to Form S-8 (File No. 001-38147) filed on December 31, 2020 |
| <u>[10.4](https://www.sec.gov/Archives/edgar/data/1710366/000143774921002802/ex_226040.htm)[4](https://www.sec.gov/Archives/edgar/data/1710366/000143774921002802/ex_226040.htm)</u> | First Amendment to Employment Agreement of James A. Brock\* | Filed as Exhibit 10.45 to Form 10-K (File No. 001-38147) filed on February 12, 2021 |
| <u>[10.4](https://www.sec.gov/Archives/edgar/data/1710366/000143774922003140/ex_334599.htm)[5](https://www.sec.gov/Archives/edgar/data/1710366/000143774922003140/ex_334599.htm)</u> | Second Amendment to Employment Agreement of James A. Brock\* | Filed as Exhibit 10.44 to Form 10-K (File No. 001-38147) filed on February 11, 2022 |
| <u>[10.4](https://www.sec.gov/Archives/edgar/data/1710366/000143774922018728/ex_405752.htm)[6](https://www.sec.gov/Archives/edgar/data/1710366/000143774922018728/ex_405752.htm)</u> | Form of Notice of Restricted Stock Unit Award Terms and Conditions for Non-Employee Directors\* | Filed as Exhibit 10.4 to Form 10-Q (File No. 001-38147) filed on August 4, 2022 |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000143774922010570/ex_360126.htm)[47](https://www.sec.gov/Archives/edgar/data/1710366/000143774922010570/ex_360126.htm)</u> | Form Notice of Performance Based Cash Award and Terms and Conditions\* | Filed as Exhibit 10.2 to Form 10-Q (File No. 001-38147) filed on May 3, 2022 |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000143774922010570/ex_360127.htm)[48](https://www.sec.gov/Archives/edgar/data/1710366/000143774922010570/ex_360127.htm)</u> | Form Notice of Restricted Stock Unit Award and Terms and Conditions\* | Filed as Exhibit 10.3 to Form 10-Q (File No. 001-38147) filed on May 3, 2022 |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000143774922010570/ex_366424.htm)[49](https://www.sec.gov/Archives/edgar/data/1710366/000143774922010570/ex_366424.htm)</u> | 2022 Executive Short-Term Incentive Program Terms and Conditions\* | Filed as Exhibit 10.4 to Form 10-Q (File No. 001-38147) filed on May 3, 2022 |
| <u>[10.5](https://www.sec.gov/Archives/edgar/data/1710366/000171036623000005/exhibit1052.htm)[0](https://www.sec.gov/Archives/edgar/data/1710366/000171036623000005/exhibit1052.htm)</u> | Third Amendment to Employment Agreement of James A. Brock\* | Filed as Exhibit 10.52 to Form 10-K (File No. 001-38147) filed on February 10, 2023 |
| <u>[10.5](https://www.sec.gov/Archives/edgar/data/1710366/000171036623000005/exhibit1053.htm)[1](https://www.sec.gov/Archives/edgar/data/1710366/000171036623000005/exhibit1053.htm)</u> | Change in Control Severance Agreement for Miteshkumar Thakkar\* | Filed as Exhibit 10.53 to Form 10-K (File No. 001-38147) filed on February 10, 2023 |
| <u>[10.5](https://www.sec.gov/Archives/edgar/data/1710366/000171036623000017/exhibit102.htm)[2](https://www.sec.gov/Archives/edgar/data/1710366/000171036623000017/exhibit102.htm)</u> | Form Notice of Restricted Stock Unit Award and Terms and Conditions for Non-Employee Directors\* | Filed as Exhibit 10.2 to Form 10-Q (File No. 001-38147) filed on August 8, 2023 |
| <u>[10.5](https://www.sec.gov/Archives/edgar/data/1710366/000171036623000017/exhibit103.htm)[3](https://www.sec.gov/Archives/edgar/data/1710366/000171036623000017/exhibit103.htm)</u> | Form Notice of Performance-based Restricted Stock Unit Award and Terms and Conditions\* | Filed as Exhibit 10.3 to Form 10-Q (File No. 001-38147) filed on August 8, 2023 |
| <u>[10.5](https://www.sec.gov/Archives/edgar/data/1710366/000171036623000017/exhibit104.htm)[4](https://www.sec.gov/Archives/edgar/data/1710366/000171036623000017/exhibit104.htm)</u> | Form Notice of Service-based Restricted Stock Unit Award and Terms and Conditions\* | Filed as Exhibit 10.4 to Form 10-Q (File No. 001-38147) filed on August 8, 2023 |
| <u>[10.5](https://www.sec.gov/Archives/edgar/data/1710366/000171036623000017/exhibit105.htm)[5](https://www.sec.gov/Archives/edgar/data/1710366/000171036623000017/exhibit105.htm)</u> | 2023 Executive Short-Term Incentive Program Terms and Conditions\* | Filed as Exhibit 10.5 to Form 10-Q (File No. 001-38147) filed on August 8, 2023 |
| <u>[10.5](https://www.sec.gov/Archives/edgar/data/1710366/000171036624000012/exhibit101-q12024.htm)[6](https://www.sec.gov/Archives/edgar/data/1710366/000171036624000012/exhibit101-q12024.htm)</u> | Form Notice of Performance-based Restricted Stock Unit Award Terms and Conditions\* | Filed as Exhibit 10.1 to Form 10-Q (File No. 001-38147) filed on May 7, 2024 |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000171036624000012/exhibit102-q12024.htm)[57](https://www.sec.gov/Archives/edgar/data/1710366/000171036624000012/exhibit102-q12024.htm)</u> | Form Notice of Service-based Restricted Stock Unit Award and Terms and Conditions\* | Filed as Exhibit 10.2 to Form 10-Q (File No. 001-38147) filed on May 7, 2024 |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000171036624000012/exhibit103-q12024.htm)[58](https://www.sec.gov/Archives/edgar/data/1710366/000171036624000012/exhibit103-q12024.htm)</u> | 2024 Executive Short-Term Incentive Program Terms and Conditions\* | Filed as Exhibit 10.3 to Form 10-Q (File No. 001-38147) filed on May 7, 2024 |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000171036624000018/exhibit101-q22024.htm)[59](https://www.sec.gov/Archives/edgar/data/1710366/000171036624000018/exhibit101-q22024.htm)</u> | Form Notice of Restricted Stock Unit Award and Terms and Conditions for Non-Employee Directors\* | Filed as Exhibit 10.1 to Form 10-Q (File No. 001-38147) filed on August 8, 2024 |
| <u>[10.6](https://www.sec.gov/Archives/edgar/data/1710366/000119312524204027/d870544dex101.htm)[0](https://www.sec.gov/Archives/edgar/data/1710366/000119312524204027/d870544dex101.htm)</u> | Waiver, Acknowledgement and Amendment, dated August 20, 2024, by and between CONSOL Energy Inc. and James A. Brock | Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on August 21, 2024 |
| <u>[10.6](https://www.sec.gov/Archives/edgar/data/1710366/000119312525007135/d836647dex103.htm)[1](https://www.sec.gov/Archives/edgar/data/1710366/000119312525007135/d836647dex103.htm)</u> | Form of Indemnification and Advancement Agreement\* | Filed as Exhibit 10.3 to Form 8-K (File No. 001-38147) filed on January 15, 2025 |
| <u>[10.6](https://www.sec.gov/Archives/edgar/data/1710366/000171036625000014/exhibit1096-formofexecutiv.htm)[2](https://www.sec.gov/Archives/edgar/data/1710366/000171036625000014/exhibit1096-formofexecutiv.htm)</u> | Form of Performance Restricted Stock Unit Award Agreement (Executive 2025 Annual Award)\* | Filed as Exhibit 10.96 to Form 10-Q (File No. 001-38147) filed on May 8, 2025 |

---

------

---

| | | |
|:---|:---|:---|
| **Exhibits** | **Description** | **Method of Filing** |
| <u>[10.6](https://www.sec.gov/Archives/edgar/data/1710366/000171036625000014/exhibit1097-formofexecutiv.htm)[3](https://www.sec.gov/Archives/edgar/data/1710366/000171036625000014/exhibit1097-formofexecutiv.htm)</u> | Form of Restricted Stock Unit Award Agreement (Executive 2025 Annual Award)\* | Filed as Exhibit 10.97 to Form 10-Q (File No. 001-38147) filed on May 8, 2025 |
| <u>[10.6](https://www.sec.gov/Archives/edgar/data/1710366/000171036625000014/exhibit1098-formofexecutiv.htm)[4](https://www.sec.gov/Archives/edgar/data/1710366/000171036625000014/exhibit1098-formofexecutiv.htm)</u> | Form of Performance Restricted Stock Unit Award Agreement (Executive Start-Up Grant)\* | Filed as Exhibit 10.98 to Form 10-Q (File No. 001-38147) filed on May 8, 2025 |
| <u>[10.6](https://www.sec.gov/Archives/edgar/data/1710366/000171036625000014/exhibit1099-formofexecutiv.htm)[5](https://www.sec.gov/Archives/edgar/data/1710366/000171036625000014/exhibit1099-formofexecutiv.htm)</u> | Form of Restricted Stock Unit Award Agreement (Executive Start-Up Grant)\* | Filed as Exhibit 10.99 to Form 10-Q (File No. 001-38147) filed on May 8, 2025 |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000171036625000014/exhibit10100-formofdirecto.htm)[66](https://www.sec.gov/Archives/edgar/data/1710366/000171036625000014/exhibit10100-formofdirecto.htm)</u> | Form of Restricted Stock Unit Award Agreement (Non-Employee Directors 2025 Annual Award and Start-Up Grant)\* | Filed as Exhibit 10.100 to Form 10-Q (File No. 001-38147) filed on May 8, 2025 |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000119312525170639/d92701dex101.htm)[67](https://www.sec.gov/Archives/edgar/data/1710366/000119312525170639/d92701dex101.htm)</u> | Receivables Financing Agreement, dated as of July 28, 2025, by and among Core Receivable Company, LLC, as borrower, Core Sales, LLC, as the initial servicer, PNC, as administrative agent and LC bank, PNC CM, as structuring agent, and the lenders from time to time party thereto#^ | Filed as Exhibit 10.1 to Form 8-K (File No. 001-38147) filed on July 31, 2025 |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000119312525170639/d92701dex102.htm)[68](https://www.sec.gov/Archives/edgar/data/1710366/000119312525170639/d92701dex102.htm)</u> | Third Amended and Restated Sale and Contribution Agreement, dated as of July 28, 2025, by and among Core Receivable Company, LLC, Core Sales, LLC, as the initial servicer, and Arch as transferor# | Filed as Exhibit 10.2 to Form 8-K (File No. 001-38147) filed on July 31, 2025 |
| <u>[10.](https://www.sec.gov/Archives/edgar/data/1710366/000119312525170639/d92701dex103.htm)[69](https://www.sec.gov/Archives/edgar/data/1710366/000119312525170639/d92701dex103.htm)</u> | Third Amended and Restated Purchase and Sale Agreement, dated as of July 28, 2025, by and among Arch, as buyer, Core Sales, LLC, as the initial servicer, and the originators party thereto# | Filed as Exhibit 10.3 to Form 8-K (File No. 001-38147) filed on July 31, 2025 |
| <u>[10.7](https://www.sec.gov/Archives/edgar/data/1710366/000119312525170639/d92701dex104.htm)[0](https://www.sec.gov/Archives/edgar/data/1710366/000119312525170639/d92701dex104.htm)</u> | Fifth Amended and Restated Performance Guaranty, dated as of July 28, 2025, by Core in favor of PNC for the benefit of the secured parties under the Receivables Financing Agreement# | Filed as Exhibit 10.4 to Form 8-K (File No. 001-38147) filed on July 31, 2025 |
| <u>[10.7](https://www.sec.gov/Archives/edgar/data/1710366/000171036625000030/cnrq32025-exhibit1075.htm)[1](https://www.sec.gov/Archives/edgar/data/1710366/000171036625000030/cnrq32025-exhibit1075.htm)</u> | Separation and Release Agreement, by and between the Company and Paul Lang\* | Filed as Exhibit 10.75 to Form 10-Q (File No. 001-38147) filed on November 6, 2025 |
| <u>[10.7](https://www.sec.gov/Archives/edgar/data/1710366/000171036626000007/cnr12312025-exhibit1072.htm)[2](https://www.sec.gov/Archives/edgar/data/1710366/000171036626000007/cnr12312025-exhibit1072.htm)</u> | Form of Core Natural Resources, Inc. Severance Agreement\* | Filed as Exhibit 10.72 to Form 10-K (File No. 001-38147) filed on February 17, 2026 |
| <u>[10.73](cnr0331202610-qxexhibit1073.htm)</u> | Form of Performance Restricted Stock Unit Award Agreement (Executive 2026 Annual Award)\* | Filed herewith |
| <u>[10.74](cnr0331202610-qxexhibit1074.htm)</u> | Form of Restricted Stock Unit Award Agreement (Executive 2026 Annual Award)\* | Filed herewith |
| <u>[10.75](cnr0331202610-qxexhibit1075.htm)</u> | Form of Restricted Stock Unit Award Agreement (Non-Employee Directors 2026 Annual Award)\* | Filed herewith |
| <u>[31.1](cnr0331202610-qxexhibit311.htm)</u> | Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | Filed herewith |
| <u>[31.2](cnr0331202610-qxexhibit312.htm)</u> | Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | Filed herewith |
| <u>[32.1](cnr0331202610-qxexhibit321.htm)</u> | Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | Furnished herewith |
| <u>[32.2](cnr0331202610-qxexhibit322.htm)</u> | Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | Furnished herewith |
| <u>[95](cnr0331202610-qxexhibit95.htm)</u> | Mine Safety and Health Administration Safety Data | Filed herewith |
| <u>101</u> | Interactive Data File (Form 10-Q for the quarterly period ended March 31, 2026, furnished in Inline XBRL) | Filed herewith |
| <u>104</u> | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) | Filed herewith |

---

*<u>\* Indicates management contract or compensatory plan or arrangement.</u>*

*<u>\*\* The schedules have been omitted pursuant to Item 601(b)(2) of Regulation S-K and will be provided to the Securities and Exchange Commission upon request.</u>*

------

*<u># Schedules and attachments to this exhibit have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company hereby undertakes to furnish supplementally copies of any of the omitted schedules upon request by the Securities and Exchange Commission.</u>*

*<u>^ Portions of this exhibit have been omitted pursuant to Item 601(b)(10) of Regulation S-K because they are both (i) not material and (ii) contain the type of information that the Company customarily and actually treats as private or confidential. Such omitted information is indicated by brackets "[\*\*]" in this exhibit.</u>*

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | | |
|:---|:---|:---|
| | CORE NATURAL RESOURCES, INC. | CORE NATURAL RESOURCES, INC. |
| May 7, 2026 | By: | /s/ JAMES A. BROCK |
|  |  | **James A. Brock** |
|  |  | **Chair and Chief Executive Officer <br>(Principal Executive Officer)** |
| May 7, 2026 | By: | /s/ MITESHKUMAR B. THAKKAR |
|  |  | **Miteshkumar B. Thakkar** |
|  |  | **President and Chief Financial Officer<br>(Principal Financial Officer)** |
| May 7, 2026 | By: | /s/ JOHN M. ROTHKA |
|  |  | **John M. Rothka** |
|  |  | **Chief Accounting Officer**<br> **(Principal Accounting Officer)** |

---

## Exhibit 10.73

**Exhibit 10.73**

**<u>CORE NATURAL RESOURCES, INC. (the "Company")<br>PERFORMANCE RESTRICTED STOCK UNIT AWARD AGREEMENT</u>**

**Name of Grantee: ____________** (the "<u>Grantee</u>")**<br>Grant Date of Award: __________** (the "<u>Award Date</u>")<br>**Number of PSUs (at target): [#_____]**

Effective as of the Award Date, Core Natural Resources, Inc. (the "<u>Company</u>") has awarded the Grantee the number of performance-based restricted stock units (the "<u>PSUs</u>") set forth above pursuant and subject to the provisions of the Core Natural Resources, Inc. 2020 Amended and Restated Omnibus Performance Incentive Plan (as may be amended from time to time, the "<u>Plan</u>") and the terms and conditions set forth in this Performance Restricted Stock Unit Award Agreement (the "<u>Agreement</u>"), which Agreement includes the "Terms and Conditions of PSU Agreement" attached hereto as Schedule A (including the attached exhibit).

**CORE NATURAL RESOURCES, INC.**

[Name]

[Title]

**Acceptance:**

To confirm your acceptance of the terms and conditions of this Agreement and of the Plan, within 90 days of issuance of this Agreement, please (i) sign this Agreement below and return the signed copy to the Company or (ii) if provided on an online platform, please check the "Accept" button on such platform.

**GRANTEE:**

**<u>[Grantee Name]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>**

<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>&nbsp;&nbsp;&nbsp;&nbsp;

[<u>Date]</u>_______________

------

<u>Schedule A</u>

***Core Natural Resources, Inc.<br>Restricted Stock Unit Awards (Executive-2026 Annual Awards)<br>(Performance-Based)***

**Terms and Conditions of PSU Agreement**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.**PSU Grant**: Effective as of ________ (the "<u>Award Date</u>"), Core Natural Resources, Inc. (the "<u>Company</u>") granted to the Grantee performance-based Restricted Stock Units with respect to a specified number of shares of Common Stock as set forth in this Agreement (the "<u>PSUs</u>"). By accepting the PSUs, the Grantee acknowledges and agrees that (i) the PSUs are subject to this Agreement and the terms of the Core Natural Resources, Inc. 2020 Amended and Restated Omnibus Performance Incentive Plan (as may be amended from time to time, the "<u>Plan</u>") and (ii) this Agreement and the Plan set forth the entire understanding between the Grantee and the Company regarding the PSUs and supersede all prior oral and written agreements, promises and/or representations on the terms of the PSUs, including, for the avoidance of doubt, any change in control agreements or arrangements entered into prior to the Award Date with the Company, any predecessor to the Company or any affiliate and/or subsidiary of the Company. Each capitalized term not defined in this Agreement has the meaning assigned to such term in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.**Stockholder Rights**: The Grantee will have no rights as a holder of shares of Common Stock with respect to the PSUs granted hereunder. Notwithstanding the foregoing, the Grantee will have the right to receive a cash payment (the "<u>Dividend Equivalent Payment</u>") with respect to the PSUs (if any) that vest pursuant to this Agreement, subject to withholding pursuant to the terms of this Agreement and the Plan, in an amount equal to the aggregate cash dividends that would have been paid to the Grantee if the Grantee had been the record owner, on each record date for a cash dividend during the period from the Award Date through the settlement date of the PSUs, of a number of shares of Common Stock equal to the number of PSUs that actually vest under this Agreement. The Dividend Equivalent Payment will be made at the time the PSUs are settled. The Grantee will not be entitled to receive any payments with respect to any non-cash dividends or other distributions that may be made with respect to shares of Common Stock (but, for clarity, the PSUs will be subject to adjustment for such non-cash dividends or other distributions pursuant to Section 3(d) of the Plan).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.**Transferability**: The PSUs shall not be sold, transferred, assigned, pledged or otherwise encumbered or disposed, except by will or the laws of descent and distribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.**Vesting**: The PSUs shall vest on the third anniversary of the Award Date (the "<u>Vesting Date</u>") based on attainment of the performance goals set forth on the attached <u>Exhibit A</u> (the "<u>Performance Goals</u>") during the Performance Period (as defined on Exhibit A), provided the Grantee continues to be employed by the Company through the Vesting Date, except as otherwise provided below. As soon as practicable following the end of the Performance Period, the Committee shall determine whether and to what extent the

&nbsp;&nbsp;&nbsp;&nbsp;Sched. A-1

------

Performance Goals have been met, shall certify attainment of the Performance Goals and shall authorize the settlement of the PSUs consistent with the achievement of the Performance Goals, which settlement shall take place in accordance with Section 7(a) below. In the event that the Performance Goals have not been met, the PSUs shall automatically be forfeited and all rights of the Grantee to the PSUs shall terminate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.**Termination of Employment**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.*Without Cause, for Good Reason or Early Retirement*. In the event of the Grantee's termination of employment at any time prior to the Vesting Date by the Company without Cause, by the Grantee for Good Reason, or due to the Grantee's Early Retirement, a pro-rated portion of the PSUs (or the full number of PSUs) shall remain eligible to vest on the Vesting Date in an amount determined by multiplying (i) the number of PSUs that would have vested based on attainment of the Performance Goals for the Performance Period, without regard to the Grantee's termination of employment, by (ii) a fraction, the numerator of which is the number of days during the period beginning on the Award Date and ending on the date of such termination of employment, and the denominator of which is the number of days from the Award Date to the last day of the Performance Period; provided that if such termination occurs after the end of the Performance Period and prior to the Vesting Date, the full number of PSUs shall remain eligible to vest based on attainment of the Performance Goals for the Performance Period. Any PSUs that do not vest on the Vesting Date will be forfeited. The vested PSUs shall be settled as described in Section 7(b) below. Notwithstanding the foregoing, in the event of the Grantee's termination of employment by the Company without Cause or by the Grantee for Good Reason at a time when the Grantee is otherwise eligible for Early Retirement or Normal Retirement (including, for the avoidance of doubt, during the 90 day period prior to the Grantee's termination due to Early Retirement or Normal Retirement, as applicable), such termination of employment shall be deemed the Grantee's termination due to Early Retirement or Normal Retirement, as applicable, for purposes of this Agreement and the PSUs shall vest as described in this Section 5(a) in the event the Grantee is eligible for Early Retirement (but not Normal Retirement) or Section 5(c) below in the event the Grantee is eligible for Normal Retirement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.*Death or Disability*. In the event of the Grantee's termination of employment at any time prior to the Vesting Date by reason of death or by the Company due to Grantee's Disability, 100% of the target number of each PSU category set forth on <u>Exhibit A</u> shall vest as of the date of such termination; provided that, if such termination occurs following the end of the Performance Period and prior to the Vesting Date, the number of PSUs that vest on the date of such termination shall equal, if greater than 100% of the target PSUs, the number of PSUs that would have vested based on attainment of the Performance Goals for the Performance Period, without regard to the Grantee's termination of employment. The vested PSUs shall be settled as described in Section 7(c) below.

&nbsp;&nbsp;&nbsp;&nbsp;Sched. A-2

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.*Normal Retirement*. In the event of the Grantee's termination of employment at any time prior to the Vesting Date due to the Grantee's Normal Retirement, all of the PSUs shall remain eligible to vest on the Vesting Date based on attainment of the Performance Goals for the Performance Period, without regard to the Grantee's termination of employment. Any PSUs that do not vest on the Vesting Date will be forfeited. The vested PSUs shall be settled as described in Section 7(b) below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.*For Cause*. In the event of the Grantee's termination of employment at any time prior to the Vesting Date by the Company for Cause, all PSUs, whether vested or unvested, will be forfeited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.**Change in Control**: Except as otherwise may be provided pursuant to Section 12 of the Plan, in the event of a Change in Control that occurs at any time after the Award Date and during the Performance Period, on or within thirty (30) days prior to the date of the Change in Control (such date, the "<u>Change in Control Determination Date</u>"), the Committee shall determine the number of PSUs that are eligible to vest based on attainment of the Performance Goals during the period beginning on the first day of the Performance Period and ending on the Change in Control Determination Date (the "<u>Earned CIC PSUs</u>"), and such Earned CIC PSUs (if any) shall be eligible to vest as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.*PSUs Assumed in Change in Control*. In the event the PSUs become a Substitute Award in connection with such Change in Control, the Earned CIC PSUs will vest on the Vesting Date, subject to the Grantee's continued employment by the Company through the Vesting Date, and shall be settled as described in Section 7(a) below. Notwithstanding the foregoing, in the event of the Grantee's termination of employment by the Company without Cause, by the Grantee for Good Reason, due to the Grantee's Early Retirement or Normal Retirement, by reason of death or by the Company due to Grantee's Disability, in any case, at any time on or following the date of the Change in Control and prior to the Vesting Date (a "<u>Change in Control Qualifying Termination</u>"), the Earned CIC PSUs (or 100% of the target number of each PSU category set forth on <u>Exhibit A</u>, if greater) shall vest as of the date of such Change in Control Qualifying Termination and shall be settled as described in Section 7(d) below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.*PSUs Not Assumed in Change in Control*. In the event the PSUs do not become a Substitute Award in connection with such Change in Control, the Earned CIC PSUs (or 100% of the target number of each PSU category set forth on <u>Exhibit A</u>, if greater) shall vest on the Change in Control Determination Date, subject to the Grantee's continued employment by the Company through such date, and shall be settled as described in Section 7(e) below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.**Settlement**: The PSUs shall be settled by delivery of one share of Common Stock for each PSU that is earned and vests. The earned and vested PSUs shall be settled as follows:

&nbsp;&nbsp;&nbsp;&nbsp;Sched. A-3

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.*Settlement following Standard Vesting or a Change in Control in which the PSUs are Assumed*. In the event the PSUs vest pursuant to Section 4 or Section 6(a) (other than due to a Change in Control Qualifying Termination), the PSUs shall be settled in calendar year 2029 as soon as practicable after the Vesting Date, but in no event later than March 15, 2029.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.*Settlement following Grantee's Termination Without Cause, for Good Reason, Early Retirement or Normal Retirement, in any case, Prior to a Change in Control*. In the event the PSUs vest pursuant to Section 5(a) or Section 5(c), the PSUs shall be settled in calendar year 2029 as soon as practicable after the end of the Performance Period, but in no event later than March 15, 2029.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.*Settlement following Grantee's Termination due to Death or Disability*. In the event the PSUs vest pursuant to Section 5(b), the PSUs shall be settled within 60 days of the date of termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.*Settlement following Grantee's Change in Control Qualifying Termination*. In the event the PSUs vest pursuant to Section 6(a) due to the Grantee's Change in Control Qualifying Termination, the PSUs shall be settled within 60 days of the date of such Change in Control Qualifying Termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.*Settlement following Change in Control in which the PSUs are Not Assumed*. In the event the PSUs vest pursuant to Section 6(b) in connection with a Change in Control in which the PSUs do not become a Substitute Award, the PSUs shall be settled within 30 days of the date of such Change in Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.**Tax Withholding**: The Grantee is solely responsible for the satisfaction of all taxes and penalties that may arise in connection with the PSUs. The Grantee authorizes the Company to satisfy any tax withholding obligation arising upon the lapse of any risk of forfeiture (including FICA due upon such lapse) and settlement of the PSUs by withholding shares of Common Stock otherwise issuable in respect of the Grantee's PSUs. The Company may withhold shares up to the maximum applicable withholding tax rate for federal (including FICA), state, local and foreign tax liabilities. Shares of Common Stock used to satisfy tax withholding shall be valued based on the Fair Market Value when the tax withholding is required to be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.**No Right to Continued Employment**: The Grantee understands and agrees that this Agreement does not impact the right of the Company or any of its affiliates employing the Grantee to terminate or change the terms of the Grantee's employment at any time for any reason, with or without cause. The Grantee understands and agrees that the Grantee's employment with the Company or any of its affiliates is on an "at-will" basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.**Clawback Policy:** The PSUs are subject to the Company's Compensation Recoupment Policy, effective as of January 14, 2025, to the extent required by law.

&nbsp;&nbsp;&nbsp;&nbsp;Sched. A-4

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.**Restrictive Covenants**: In consideration of the grant of the PSUs, the Grantee agrees to the following restrictive covenants:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.*Non-Competition and Non-Solicitation*. During the period beginning on the Award Date and ending on the earlier of (i) the first anniversary of the Grantee's termination of employment for any reason or (ii) a Change in Control that occurs at any time after the Award Date, the Grantee will not engage in any Competitive Activity or Solicitation Activity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.*Confidentiality*. The Grantee will at all times keep secret and confidential all Confidential Information that the Grantee acquires or has acquired in connection with or as a result of the performance of services for the Company unless (i) the Company otherwise consents or (ii) the Grantee is legally required to disclose such Confidential Information by a court of competent jurisdiction. Notwithstanding anything to the contrary contained herein, nothing in this Agreement or any previous agreement with the Company shall prohibit the Grantee from reporting possible violations of federal law or regulation to or otherwise cooperating with or providing information requested by any governmental agency or entity, including, but not limited to, the Department of Justice, the Securities and Exchange Commission, the Congress and any agency Inspector General, or making other disclosures that are protected under the whistleblower provisions of federal law or regulation. The Grantee does not need the prior authorization of the Company to make any such reports or disclosures and the Grantee is not required to notify the Company that the Grantee has made such reports or disclosures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.*Non-Disparagement*. The Grantee will not knowingly make any statement, written or oral, that disparages the business or reputation of the Company or any of its subsidiaries or the officers or directors of any of them. The Company's officers and directors will not knowingly make any statement, written or oral, that disparages the business or reputation of the Grantee.

Notwithstanding anything in this Agreement to the contrary, if the Grantee breaches in any material respect any of the restrictive covenants set forth in this Section 11, the PSUs, whether vested or unvested, will be forfeited in their entirety. The restrictive covenants set forth in this Section 11 shall be in addition to and shall not supersede any other restrictive covenants set forth in any agreement between the Grantee and the Company or any of its subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.**Section 409A**: It is intended that this Agreement comply with, or be exempt from, the requirements of Section 409A and the Plan and this Agreement shall be interpreted accordingly. All payments hereunder shall be deemed separate payments for purposes of Section 409A. For purposes of any payment hereunder in respect of PSUs subject to Section 409A, references to the Grantee's termination of employment (or words of like import) shall mean the Grantee's "separation from service" (within the meaning of Treasury Regulation Section 1.409A-1(h)). Notwithstanding anything in the Plan or this

&nbsp;&nbsp;&nbsp;&nbsp;Sched. A-5

------

Agreement to the contrary, if the Grantee is a "specified employee" under Section 409A (as determined by the Committee), no payment hereunder that is subject to Section 409A shall be made as a result of a "separation from service" of the Grantee until the earlier of (i) the first business day following the six (6) month anniversary of the Grantee's separation from service or (ii) the date of the Grantee's death. Notwithstanding anything herein to the contrary, to the extent permitted by Treasury Regulation Section 1.409A-3(j)(4)(ix), payment in respect of the PSUs subject to Section 409A may be accelerated in connection with a "change in control event" within the meaning of Treasury Regulation Section 1.409A-3(i)(5) without the consent of the Grantee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.**Agreement Governs**: In the event of a conflict between one or more provisions of this Agreement and one or more provisions of the Plan, the provisions of this Agreement shall govern; provided that Section 3(d), Section 12 and Section 13(b) of the Plan shall govern over any conflicting provision of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.**Waiver of Prior Equity Treatment**: The Grantee acknowledges and agrees that the terms of this Agreement apply to a termination of the Grantee's employment following the Award Date and waives any right to accelerated vesting or other unique provisions or treatment under any prior oral and written agreements, promises and/or representations with respect to an equity award, including any change in control agreements or arrangements entered into prior to the Award Date with the Company, any predecessor to the Company or any affiliate and/or subsidiary of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.**Captions**: Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.**Severability:** In the event that any provision in this Agreement shall be held invalid or unenforceable for any reason, such provision shall be severable from, and such invalidity or unenforceability shall not be construed to have any effect on, the remaining provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.**Definitions:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a."<u>Cause</u>" has the meaning given to such term in the Grantee's offer letter or other applicable employment or severance agreement with the Company, a subsidiary of the Company or any predecessor to the Company or a subsidiary, or if there is no such definition, as defined in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b."<u>Change in Control</u>" means, notwithstanding anything in the Plan to the contrary, the earliest to occur of: (1) any one "person" as such term is used in Sections 13(d) and 14(d) of the Exchange Act (other than (A) the Company, (B) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (C) any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of Shares), or more than one "person" acting as a "group," is or becomes the "beneficial owner" (as defined in Rule 13d-3 under the Exchange Act) of Shares that, together with the Shares held by

&nbsp;&nbsp;&nbsp;&nbsp;Sched. A-6

------

such "person" or "group," possess more than 40% of the total fair market value or total voting power of the Shares and other stock of the Company; (2) a majority of members of the Board is replaced during any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election; or (3) the sale of all or substantially all of the Company's assets (which shall be determined in the sole discretion of the Committee); provided, however, that, in addition to the foregoing, such event must also qualify as a "Change in Control" event within the meaning of Treas. Reg. Section 1.409A-3(i)(5)(i) with respect to the Company. For the avoidance of doubt, references within this definition of "Change in Control" to the "Company" are solely to Core Natural Resources, Inc., such that a sale of a subsidiary of Core Natural Resources, Inc. shall not constitute a "Change in Control" under this Agreement unless otherwise determined in the sole discretion of the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c."<u>Competitive Activity</u>" means the Grantee's participation, without the written consent of the Chief Legal Officer of the Company (or an authorized officer of the Company if the Grantee is the Chief Legal Officer), in the management of any Competitive Operation. Competitive Activity will not include (i) the mere ownership of securities in any enterprise or (ii) participation in the management of any enterprise or any business operation thereof, other than in connection with a Competitive Operation of such enterprise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d."<u>Competitive Operation</u>" means the business operation of any enterprise if such operation engages in substantial and direct competition with any business operation actively conducted by the Company or its divisions and subsidiaries on the date of the Grantee's termination of employment. A business operation will be considered a Competitive Operation if such business sells a competitive product or service that constitutes (i) 15% of that business's total sales or (ii) 15% of the total sales of any individual subsidiary or division of that business and, in either event, the Company's sales of a similar product or service constitutes (x) 15% of the total sales of the Company or (y) 15% of the total sales of any individual subsidiary or division of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e."<u>Confidential Information</u>" means information relating to the Company's, its divisions' and subsidiaries' and their successors' business practices and business interests, including, but not limited to, customer and supplier lists, business forecasts, business and strategic plans, financial and sales information, information relating to products, process, equipment, operations, marketing programs, research or product development, engineering records, computer systems and software, personnel records or legal records.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f."<u>Disability</u>" has the meaning given to such term in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;Sched. A-7

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g."<u>Early Retirement</u>" means, upon at least 90 days' prior written notice to the Company, the Grantee's voluntary termination of employment for any reason on or after the date on which the Grantee attains age 55 and has ten years of service (whether or not continuous and whether or not the years of service are full calendar years) with the Company, a subsidiary of the Company or any predecessor to the Company or a subsidiary; provided that, the Grantee has not been terminated for Cause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h."<u>Good Reason</u>" has the meaning given to such term in the Grantee's offer letter or other applicable employment or severance agreement with the Company, a subsidiary of the Company or any predecessor to the Company or a subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i."<u>Normal Retirement</u>" means, upon at least 90 days' prior written notice to the Company, the Grantee's voluntary termination of employment for any reason on or after the date on which the Grantee attains age 60 and has 20 years of service (whether or not continuous and whether or not the years of service are full calendar years) with the Company, a subsidiary of the Company or any predecessor to the Company or a subsidiary; provided that, the Grantee has not been terminated for Cause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j."<u>Solicitation Activity</u>" means the Grantee's solicitation for employment or hiring, without the written consent of the Chief Legal Officer of the Company (or an authorized officer of the Company if the Grantee is the Chief Legal Officer), of any person employed or retained by the Company on, or during the six months preceding, the date of the Grantee's termination of employment.

&nbsp;&nbsp;&nbsp;&nbsp;Sched. A-8

------

**<u>Exhibit A</u>**

**Performance Goals**

The PSUs shall vest based on the achievement of the applicable Performance Goals, depending on the classification of the PSUs as follows:

---

| | | |
|:---|:---|:---|
| **PSU Category** | **Performance Goals** | **Percentage of PSUs (at Target)** |
| "<u>Compensation Peer Group TSR PSUs</u>" | Relative TSR – Compensation Peer Group (1) | 22.5% |
| "<u>Coal Peer Group TSR PSUs</u>" | Relative TSR – Coal Peer Group (2) | 22.5% |
| "<u>FCF PSUs</u>" | ICP Free Cash Flow (3) | 45% |
| "<u>Revenue PSUs</u>" | Core Innovations – Revenue (4) | 10% |

---

1)**Compensation Peer Group TSR PSUs**. Subject to the Agreement and the TSR Modifier, a percentage of the Compensation Peer Group TSR PSUs will vest as set forth in the table below based on the Company's TSR over the Performance Period relative to the TSR of the component members of the Company's Compensation Peer Group over the Performance Period.

---

| | |
|:---|:---|
| **Compensation Peer Group <br>Relative TSR** | **Percentage of Target Compensation Peer Group TSR PSUs that Vest** |
| Below 25th Percentile of Compensation Peer Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0% |
| 25<sup>th</sup> Percentile of Compensation Peer Group  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50% |
| 50<sup>th</sup> Percentile of Compensation Peer Group (Target) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100% |
| 75<sup>th</sup> Percentile of Compensation Peer Group  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200% |

---

If the Company's TSR is between any of the achievement levels set forth in the table above, the percentage of the Compensation Peer Group TSR PSUs that will vest will be determined by straight-line interpolation between the percentages corresponding to such achievement levels. Notwithstanding anything to the contrary in the Agreement or this <u>Exhibit A</u>, in no event shall (i) any Compensation Peer Group TSR PSUs vest if the Company's TSR relative to the TSR of the component members of the Compensation Peer Group does not equal or exceed the 25<sup>th</sup> percentile of the Compensation Peer Group

&nbsp;&nbsp;&nbsp;&nbsp;Ex. A-1

------

or (ii) more than 200% of the target number of Compensation Peer Group TSR PSUs vest.

2)**Coal Peer Group TSR PSUs**. Subject to the Agreement and the TSR Modifier, a percentage of the Coal Peer Group TSR PSUs will vest as set forth in the table below based on the Company's TSR over the Performance Period relative to the TSR of the component members of the Company's Coal Peer Group over the Performance Period.

---

| | |
|:---|:---|
| **Coal Peer Group <br>Relative TSR** | **Percentage of Target Coal Peer Group TSR PSUs that Vest** |
| 5<sup>th</sup> or 6<sup>th</sup> Coal Peer Group Company Rank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0% |
| 4<sup>th</sup> Coal Peer Group Company Rank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50% |
| 3<sup>rd</sup> Coal Peer Group Company Rank (Target) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100% |
| 1<sup>st</sup> or 2<sup>nd</sup> Coal Peer Group Company Rank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200% |

---

If the Company's TSR is between any of the achievement levels set forth in the table above, the percentage of the Coal Peer Group TSR PSUs that will vest will be determined by straight-line interpolation between the percentages corresponding to such achievement levels. Notwithstanding anything to the contrary in the Agreement or this <u>Exhibit A</u>, in no event shall (i) any Coal Peer Group TSR PSUs vest if the Company's TSR relative to the TSR of the component members of the Coal Peer Group ranks 5<sup>th</sup> or 6<sup>th</sup> of the Coal Peer Group or (ii) more than 200% of the target number of Coal Peer Group TSR PSUs vest.

3)**FCF PSUs**. Subject to the Agreement and the TSR Modifier, a percentage of the FCF PSUs will vest as set forth in the table below based on the achievement level of ICP Free Cash Flow over the Performance Period.

---

| | |
|:---|:---|
| **ICP Free Cash Flow** | **Percentage of Target FCF PSUs that Vest** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$799520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$999400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1199280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200% |

---

If the Company's ICP Free Cash Flow is between any of the achievement levels set forth in the table above, the percentage of the FCF PSUs that will vest will be determined by straight-line interpolation between the percentages corresponding to such achievement levels. Notwithstanding anything to the contrary in the Agreement or this <u>Exhibit A</u>, in no

&nbsp;&nbsp;&nbsp;&nbsp;Ex. A-2

------

event shall (i) any FCF PSUs vest if the Company's ICP Free Cash Flow does not equal or exceed $799,520,000 or (ii) more than 200% of the target number of FCF PSUs vest.

4)**Revenue PSUs**. Subject to the Agreement and the TSR Modifier, a percentage of the Revenue PSUs will vest as set forth in the table below based on the Company's Innovations Revenue, calculated as of the last day of the Performance Period.

---

| | |
|:---|:---|
| **Innovations Revenue** | **Percentage of Target Revenue PSUs that Vest** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$27200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$32100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$36818000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200% |

---

If the Company's Innovations Revenue is between any of the achievement levels set forth in the table above, the percentage of the Revenue PSUs that will vest will be determined by straight-line interpolation between the percentages corresponding to such achievement levels. Notwithstanding anything to the contrary in the Agreement or this <u>Exhibit A</u>, in no event shall (i) any Revenue PSUs vest if the Company's Innovations Revenue does not equal or exceed $27,200,000 or (ii) more than 200% of the target number of Revenue PSUs vest.

5)**TSR Modifier**. Notwithstanding anything to the contrary in the Agreement or this <u>Exhibit A</u>, in no event shall more than 100% of the target number of Compensation Peer Group TSR PSUs, Coal Peer Group TSR PSUs, FCF PSUs or Revenue PSUs vest if the Company's TSR over the Performance Period is negative (the "<u>TSR Modifier</u>").

6)**Definitions**.

"<u>Adjusted EBITDA</u>" means net income (loss) plus income taxes, interest expense and depreciation, depletion and amortization, as adjusted for certain non-cash items, such as stock-based compensation, loss on debt extinguishment and fair value adjustments of commodity derivative instruments.

"<u>Average Market Value</u>" of the Company or a member of the Compensation Peer Group or Coal Peer Group, as applicable, means as of any day, the average closing price per Share (or per share of common stock of a member of the Compensation Peer Group or Coal Peer Group, as applicable) over the 31-consecutive calendar days ending with and including that day (or, if there is no closing price on that day, the last trading day before that day).

"<u>Beginning Average Market Value</u>" means the Average Market Value as of January 31, 2026.

"<u>Coal Peer Group</u>" means the following companies: Alliance Resource Partners; Alpha Metallurgical Resources; Core Natural Resources, Inc.; Peabody Energy Corporation; Ramaco Resources, Inc.; and Warrior Met Coal, Inc.; provided, however, that if a

&nbsp;&nbsp;&nbsp;&nbsp;Ex. A-3

------

member of the Coal Peer Group (i) declares bankruptcy or ceases to be a Publicly Traded Company for any reason during the Performance Period, the TSR for the Performance Period for that member will be "-100%" or (ii) is acquired or merged with any other corporation or entity, the member shall be automatically removed from, and treated as never having been included in, the Coal Peer Group.

"<u>Compensation Peer Group</u>" means the following companies: Alliance Resource Partners; Alpha Metallurgical Resources; ATI, Inc.; Carptenter Technology; Cleveland Cliffs; Commercial Metals Company; CVR Energy, Inc.; Diamondback Energy, Inc.; Expand Energy (Chesapeake-Southwestern); Martin Marietta Materials; Peabody Energy Corporation; Ramaco Resources, Inc.; Ryerson Holding Company; Vulcan Materials; Warrior Met Coal, Inc.; and Worthington Steel, Inc.; provided, however, that if a member of the Compensation Peer Group (i) declares bankruptcy or ceases to be a Publicly Traded Company for any reason during the Performance Period, the TSR for the Performance Period for that member will be "-100%" or (ii) is acquired or merged with any other corporation or entity, the member shall be automatically removed from, and treated as never having been included in, the Compensation Peer Group.

"<u>Ending Average Market Value</u>" means the Average Market Value as of December 31, 2028.

"<u>ICP Free Cash Flow</u>" or "<u>Incentive Compensation Plan Free Cash Flow</u>" of the Company means Adjusted EBITDA less capital expenditures less interest expense plus proceeds of non-EBITDA producing asset sales less the financial accounting impact of non-EBITDA producing asset sales, calculated on a cumulative basis over the Performance Period.

"<u>Innovations Revenue</u>" means total revenue generated from the Company's Core Innovations business unit measured as of the last day of the Performance Period.

"<u>Performance Period</u>" means the period beginning on January 1, 2026 and ending on December 31, 2028.

"<u>Publicly Traded Company</u>" means a company whose shares are regularly quoted or traded on a national securities market, as determined by the Committee.

"<u>TSR</u>" means the percentage appreciation (positive or negative) in the Share price (or common stock price of a member of the Compensation Peer Group or the Coal Peer Group, as applicable) over the Performance Period, determined by dividing (i) the difference obtained by subtracting (A) the Beginning Average Market Value, from (B) the Ending Average Market Value plus all cash dividends for the Performance Period by (ii) the Beginning Average Market Value. TSR shall be equitably adjusted to reflect stock dividends, stock-splits, spin-offs, and other corporate changes having similar effect.

&nbsp;&nbsp;&nbsp;&nbsp;Ex. A-4

## Exhibit 10.74

**Exhibit 10.74**

**<u>CORE NATURAL RESOURCES, INC. (the "Company")<br>RESTRICTED STOCK UNIT AWARD AGREEMENT</u>**

**Name of Grantee: ___________** (the "<u>Grantee</u>")**<br>Date of Award: _____________** (the "<u>Award Date</u>")**<br>Number of RSUs: [#_____]**

Effective as of the Award Date, Core Natural Resources, Inc. (the "<u>Company</u>") has awarded the Grantee the number of restricted stock units (the "<u>RSUs</u>") set forth above pursuant and subject to the provisions of the Core Natural Resources, Inc. 2020 Amended and Restated Omnibus Performance Incentive Plan (as may be amended from time to time, the "<u>Plan</u>") and the terms and conditions set forth in this Restricted Stock Unit Award Agreement (the "<u>Agreement</u>"), which Agreement includes the "Terms and Conditions of RSU Agreement" attached hereto as Schedule A.

**CORE NATURAL RESOURCES, INC.**

[Name]

[Title]

**Acceptance:**

To confirm your acceptance of the terms and conditions of this Agreement and of the Plan, within 90 days of issuance of this Agreement, please (i) sign this Agreement below and return the signed copy to the Company or (ii) if provided on an online platform, please check the "Accept" button on such platform.

**GRANTEE:**

**<u>[Grantee Name]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>**

<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>&nbsp;&nbsp;&nbsp;&nbsp;

[<u>Date]</u>_______________

------

<u>Schedule A</u>

***Core Natural Resources, Inc.<br>Restricted Stock Unit Awards (Executive-2026 Annual Awards)<br>(Service-Based)***

**<u>Terms and Conditions of RSU Agreement</u>**

1.**RSU Grant**: Effective as of February 17, 2026 (the "<u>Award Date</u>"), Core Natural Resources, Inc. (the "<u>Company</u>") granted to the Grantee service-based Restricted Stock Units with respect to a specified number of shares of Common Stock as set forth in this Agreement (the "<u>RSUs</u>"). By accepting the RSUs, the Grantee acknowledges and agrees that (i) the RSUs are subject to this Agreement and the terms of the Core Natural Resources, Inc. 2020 Amended and Restated Omnibus Performance Incentive Plan (as may be amended from time to time, the "<u>Plan</u>") and (ii) this Agreement and the Plan set forth the entire understanding between the Grantee and the Company regarding the RSUs and supersede all prior oral and written agreements, promises and/or representations on the terms of the RSUs, including, for the avoidance of doubt, any change in control agreements or arrangements entered into prior to the Award Date with the Company, any predecessor to the Company or any affiliate and/or subsidiary of the Company. Each capitalized term not defined in this Agreement has the meaning assigned to such term in the Plan.

2.**Stockholder Rights**: The Grantee will have no rights as a holder of shares of Common Stock with respect to the RSUs granted hereunder. Notwithstanding the foregoing, the Grantee will have the right to receive a cash payment (the "<u>Dividend Equivalent Payment</u>") with respect to the RSUs (if any) that vest pursuant to this Agreement, subject to withholding pursuant to the terms of this Agreement and the Plan, in an amount equal to the aggregate cash dividends that would have been paid to the Grantee if the Grantee had been the record owner, on each record date for a cash dividend during the period from the Award Date through the settlement date of the RSUs, of a number of shares of Common Stock equal to the number of RSUs that actually vest under this Agreement. The Dividend Equivalent Payment will be made at the time the RSUs are settled. The Grantee will not be entitled to receive any payments with respect to any non-cash dividends or other distributions that may be made with respect to shares of Common Stock (but, for clarity, the RSUs will be subject to adjustment for such non-cash dividends or other distributions pursuant to Section 3(d) of the Plan).

3.**Transferability**: The RSUs shall not be sold, transferred, assigned, pledged or otherwise encumbered or disposed, except by will or the laws of descent and distribution.

4.**Vesting**: The RSUs shall vest in three equal installments on each of February 17, 2027, February 17, 2028 and February 17, 2029 (each a "<u>Vesting Date</u>" and February 17, 2029, the "<u>Final Vesting Date</u>"); provided the Grantee continues to be employed by the Company through the applicable Vesting Date, except as otherwise provided below. Notwithstanding the foregoing, any fraction of an RSU that would otherwise be vested will be accumulated and will vest only when a whole RSU has accumulated. Settlement of the vested RSUs shall take place in accordance with Section 7(a) below.

5.**Termination of Employment**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.*Without Cause, for Good Reason or Early Retirement*. In the event of the Grantee's termination of employment at any time prior to the Final Vesting Date

Sched. A-1

------

by the Company without Cause, by the Grantee for Good Reason, or due to the Grantee's Early Retirement, a pro-rated portion of the RSUs shall vest as of the date of such termination in an amount determined by multiplying (i) the number of RSUs scheduled to vest on the next Vesting Date following such termination of employment, by (ii) a fraction, the numerator of which is the number of days during the period beginning on the Vesting Date that last occurred prior to such termination (or the Award Date if such termination occurs prior to the first anniversary of the Award Date) and ending on the date of such termination of employment, and the denominator of which is 365. Any RSUs that do not vest on the date of such termination will be forfeited. The vested RSUs shall be settled as described in Section 7(b) below. Notwithstanding the foregoing, in the event of the Grantee's termination of employment by the Company without Cause or by the Grantee for Good Reason at a time when the Grantee is otherwise eligible for Early Retirement or Normal Retirement (including, for the avoidance of doubt, during the 90 day period prior to the Grantee's termination due to Early Retirement or Normal Retirement, as applicable), such termination of employment shall be deemed the Grantee's termination due to Early Retirement or Normal Retirement, as applicable, for purposes of this Agreement and the RSUs shall vest as described in this Section 5(a) in the event the Grantee is eligible for Early Retirement (but not Normal Retirement) or Section 5(b) below in the event the Grantee is eligible for Normal Retirement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.*Death, Disability or Normal Retirement*. In the event of the Grantee's termination of employment at any time prior to the Final Vesting Date by reason of death, by the Company due to the Grantee's Disability, or due to the Grantee's Normal Retirement, any unvested RSUs shall vest in full as of the date of such termination. The vested RSUs shall be settled as described in Section 7(b) below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.*For any Reason Other than Without Cause, for Good Reason, Early Retirement, Normal Retirement or due to Death or Disability.* In the event of the Grantee's termination of employment at any time prior to the Final Vesting Date for any reason other than by the Company without Cause, by the Grantee for Good Reason, due to the Grantee's Early Retirement or Normal Retirement, by reason of death or by the Company due to the Grantee's Disability, all unvested RSUs will be forfeited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.*For Cause*. In the event of the Grantee's termination of employment at any time prior to the Final Vesting Date by the Company for Cause, all unvested RSUs will be forfeited.

6.**Change in Control**: Except as otherwise may be provided pursuant to Section 12 of the Plan, in the event of a Change in Control at any time after the Award Date and prior to the Final Vesting Date, the RSUs shall be eligible to vest as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.*RSUs Assumed in Change in Control*. In the event the RSUs become a Substitute Award in connection with such Change in Control, the RSUs will continue to be eligible to vest on each Vesting Date in accordance with the vesting schedule set forth in Section 4, subject to the Grantee's continued employment by the Company through the applicable Vesting Date, and shall be settled as described in Section 7(a) below. Notwithstanding the foregoing, in the event of the Grantee's termination of employment by the Company without Cause, by the Grantee for Good Reason, due to the Grantee's Early Retirement or Normal Retirement, by reason of death or by the Company due to Grantee's Disability, in any case, at any time on or following the date of the Change in Control and prior to the Final

Sched. A-2

------

Vesting Date (a "<u>Change in Control Qualifying Termination</u>"), any unvested RSUs shall vest in full as of the date of such Change in Control Qualifying Termination and shall be settled as described in Section 7(c) below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.*RSUs Not Assumed in Change in Control*. In the event the RSUs do not become a Substitute Award in connection with such Change in Control, any unvested RSUs shall vest in full as of the date of such Change in Control, subject to the Grantee's continued employment by the Company through such date, and shall be settled as described in Section 7(d) below.

7.**Settlement**: Any RSUs not previously forfeited shall be settled by delivery of one share of Common Stock for each RSU that vests. The vested RSUs shall be settled as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.*Settlement following Standard Vesting or a Change in Control in which the RSUs are Assumed*. In the event the RSUs vest pursuant to Section 4 or Section 6(a) (other than due to a Change in Control Qualifying Termination), the RSUs shall be settled as soon as practicable after each Vesting Date, but in no event later than 60 days after the applicable Vesting Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.*Settlement following Grantee's Termination Without Cause, for Good Reason, Early Retirement, Normal Retirement or due to Death or Disability, in any case, Prior to a Change in Control*. In the event the RSUs vest pursuant to Section 5(a) or Section 5(b), the RSUs shall be settled within 60 days of the date of termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.*Settlement following Grantee's Change in Control Qualifying Termination*. In the event the RSUs vest pursuant to Section 6(a) due to the Grantee's Change in Control Qualifying Termination, the RSUs shall be settled within 60 days of the date of such Change in Control Qualifying Termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.*Settlement following Change in Control in which the RSUs are Not Assumed*. In the event the RSUs vest pursuant to Section 6(b) in connection with a Change in Control in which the RSUs do not become a Substitute Award, the RSUs shall be settled within 30 days of the date of such Change in Control.

8.**Tax Withholding**: The Grantee is solely responsible for the satisfaction of all taxes and penalties that may arise in connection with the RSUs. The tax withholding obligation shall be satisfied by withholding shares of Common Stock otherwise issuable in respect of the Grantee's RSUs. To the extent applicable, the Grantee authorizes the Company to satisfy any tax withholding obligation arising upon the lapse of any risk of forfeiture (including FICA due upon such lapse) by accelerating the settlement and withholding of the number of shares of Common Stock subject to the RSUs required to satisfy such tax withholding obligation (including the additional FICA tax and income tax withholding attributable to the pyramiding of FICA tax and income tax withholding due to the foregoing payments). The Company may withhold shares up to the maximum applicable withholding tax rate for federal (including FICA), state, local and foreign tax liabilities. Shares of Common Stock used to satisfy tax withholding shall be valued based on the Fair Market Value when the tax withholding is required to be made.

9.**No Right to Continued Employment**: The Grantee understands and agrees that this Agreement does not impact the right of the Company or any of its affiliates employing the Grantee to terminate or change the terms of the Grantee's employment at any time for any reason, with or without cause. The Grantee understands and agrees that the Grantee's employment with the Company or any of its affiliates is on an "at-will" basis.

Sched. A-3

------

10.**Restrictive Covenants**: In consideration of the grant of the RSUs, the Grantee agrees to the following restrictive covenants:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.*Non-Competition and Non-Solicitation*. During the period beginning on the Award Date and ending on the earlier of (i) the first anniversary of the Grantee's termination of employment for any reason or (ii) the date on which a Change in Control occurs, the Grantee will not engage in any Competitive Activity or Solicitation Activity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.*Confidentiality*. The Grantee will at all times keep secret and confidential all Confidential Information that the Grantee acquires or has acquired in connection with or as a result of the performance of services for the Company unless (i) the Company otherwise consents or (ii) the Grantee is legally required to disclose such Confidential Information by a court of competent jurisdiction. Notwithstanding anything to the contrary contained herein, nothing in this Agreement or any previous agreement with the Company shall prohibit the Grantee from reporting possible violations of federal law or regulation to or otherwise cooperating with or providing information requested by any governmental agency or entity, including, but not limited to, the Department of Justice, the Securities and Exchange Commission, the Congress and any agency Inspector General, or making other disclosures that are protected under the whistleblower provisions of federal law or regulation. The Grantee does not need the prior authorization of the Company to make any such reports or disclosures and the Grantee is not required to notify the Company that the Grantee has made such reports or disclosures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.*Non-Disparagement*. The Grantee will not knowingly make any statement, written or oral, that disparages the business or reputation of the Company or any of its subsidiaries or the officers or directors of any of them. The Company's officers and directors will not knowingly make any statement, written or oral, that disparages the business or reputation of the Grantee.

Notwithstanding anything in this Agreement to the contrary, if the Grantee breaches in any material respect any of the restrictive covenants set forth in this Section 10, the RSUs will be forfeited in their entirety. The restrictive covenants set forth in this Section 10 shall be in addition to and shall not supersede any other restrictive covenants set forth in any agreement between the Grantee and the Company or any of its subsidiaries.

11.**Section 409A**: It is intended that this Agreement comply with, or be exempt from, the requirements of Section 409A and the Plan and this Agreement shall be interpreted accordingly. All payments hereunder shall be deemed separate payments for purposes of Section 409A. For purposes of any payment hereunder in respect of RSUs subject to Section 409A, references to the Grantee's termination of employment (or words of like import) shall mean the Grantee's "separation from service" (within the meaning of Treasury Regulation Section 1.409A-1(h)). Notwithstanding anything in the Plan or this Agreement to the contrary, if the Grantee is a "specified employee" under Section 409A (as determined by the Committee), no payment hereunder that is subject to Section 409A shall be made as a result of a "separation from service" of the Grantee until the earlier of (i) the first business day following the six (6) month anniversary of the Grantee's separation from service or (ii) the date of the Grantee's death. Notwithstanding anything herein to the contrary, to the extent permitted by Treasury Regulation Section 1.409A-3(j)(4)(ix), payment in respect of the RSUs subject to Section 409A may be

Sched. A-4

------

accelerated in connection with a "change in control event" within the meaning of Treasury Regulation Section 1.409A-3(i)(5) without the consent of the Grantee.

12.**Agreement Governs**: In the event of a conflict between one or more provisions of this Agreement and one or more provisions of the Plan, the provisions of this Agreement shall govern; provided that Section 3(d), Section 12 and Section 13(b) of the Plan shall govern over any conflicting provision of this Agreement.

13.**Waiver of Prior Equity Treatment**: The Grantee acknowledges and agrees that the terms of this Agreement apply to a termination of the Grantee's employment following the Award Date and waives any right to accelerated vesting or other unique provisions or treatment under any prior oral and written agreements, promises and/or representations with respect to an equity award, including any change in control agreements or arrangements entered into prior to the Award Date with the Company, any predecessor to the Company or any affiliate and/or subsidiary of the Company.

14.**Captions**: Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.

15.**Severability**: In the event that any provision in this Agreement shall be held invalid or unenforceable for any reason, such provision shall be severable from, and such invalidity or unenforceability shall not be construed to have any effect on, the remaining provisions of this Agreement.

16.**Definitions**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a."<u>Cause</u>" has the meaning given to such term in the Grantee's offer letter or other applicable employment or severance agreement with the Company, a subsidiary of the Company or any predecessor to the Company or a subsidiary, or if there is no such definition, as defined in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b."<u>Change in Control</u>" means, notwithstanding anything in the Plan to the contrary, the earliest to occur of: (1) any one "person" as such term is used in Sections 13(d) and 14(d) of the Exchange Act (other than (A) the Company, (B) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (C) any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of Shares), or more than one "person" acting as a "group," is or becomes the "beneficial owner" (as defined in Rule 13d-3 under the Exchange Act) of Shares that, together with the Shares held by such "person" or "group," possess more than 40% of the total fair market value or total voting power of the Shares and other stock of the Company; (2) a majority of members of the Board is replaced during any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election; or (3) the sale of all or substantially all of the Company's assets (which shall be determined in the sole discretion of the Committee); provided, however, that, in addition to the foregoing, such event must also qualify as a "Change in Control" event within the meaning of Treas. Reg. Section 1.409A-3(i)(5)(i) with respect to the Company. For the avoidance of doubt, references within this definition of "Change in Control" to the "Company" are solely to Core Natural Resources, Inc., such that a sale of a subsidiary of Core Natural Resources, Inc. shall not constitute a "Change in Control" under this Agreement unless otherwise determined in the sole discretion of the Committee.

Sched. A-5

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c."<u>Competitive Activity</u>" means the Grantee's participation, without the written consent of the Chief Legal Officer of the Company (or an authorized officer of the Company if the Grantee is the Chief Legal Officer), in the management of any Competitive Operation. Competitive Activity will not include (i) the mere ownership of securities in any enterprise or (ii) participation in the management of any enterprise or any business operation thereof, other than in connection with a Competitive Operation of such enterprise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d."<u>Competitive Operation</u>" means the business operation of any enterprise if such operation engages in substantial and direct competition with any business operation actively conducted by the Company or its divisions and subsidiaries on the date of the Grantee's termination of employment. A business operation will be considered a Competitive Operation if such business sells a competitive product or service that constitutes (i) 15% of that business's total sales or (ii) 15% of the total sales of any individual subsidiary or division of that business and, in either event, the Company's sales of a similar product or service constitutes (x) 15% of the total sales of the Company or (y) 15% of the total sales of any individual subsidiary or division of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e."<u>Confidential Information</u>" means information relating to the Company's, its divisions' and subsidiaries' and their successors' business practices and business interests, including, but not limited to, customer and supplier lists, business forecasts, business and strategic plans, financial and sales information, information relating to products, process, equipment, operations, marketing programs, research or product development, engineering records, computer systems and software, personnel records or legal records.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f."<u>Disability</u>" has the meaning given to such term in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g."<u>Early Retirement</u>" means, upon at least 90 days' prior written notice to the Company, the Grantee's voluntary termination of employment for any reason on or after the date on which the Grantee attains age 55 and has ten years of service (whether or not continuous and whether or not the years of service are full calendar years) with the Company, a subsidiary of the Company or any predecessor to the Company or a subsidiary; provided that, the Grantee has not been terminated for Cause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h."<u>Good Reason</u>" has the meaning given to such term in the Grantee's offer letter or other applicable employment or severance agreement with the Company, a subsidiary of the Company or any predecessor to the Company or a subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i."<u>Normal Retirement</u>" means, upon at least 90 days' prior written notice to the Company, the Grantee's voluntary termination of employment for any reason on or after the date on which the Grantee attains age 60 and has 20 years of service (whether or not continuous and whether or not the years of service are full calendar years) with the Company, a subsidiary of the Company or any predecessor to the Company or a subsidiary; provided that, the Grantee has not been terminated for Cause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j."<u>Solicitation Activity</u>" means the Grantee's solicitation for employment or hiring, without the written consent of the Chief Legal Officer of the Company (or an authorized officer of the Company if the Grantee is the Chief Legal Officer), of any person employed or retained by the Company on, or during the six months preceding, the date of the Grantee's termination of employment.

Sched. A-6

## Exhibit 10.75

**Exhibit 10.75**

**<u>CORE NATURAL RESOURCES, INC. (the "Company")<br>RESTRICTED STOCK UNIT AWARD AGREEMENT</u>**

**Name of Grantee: ___________** (the "<u>Grantee</u>")**<br>Date of Award: _____________** (the "<u>Award Date</u>")**<br>Number of RSUs: [#_____]**

Effective as of the Award Date, Core Natural Resources, Inc. (the "<u>Company</u>") has awarded the Grantee the number of restricted stock units (the "<u>RSUs</u>") set forth above pursuant and subject to the provisions of the Core Natural Resources, Inc. 2020 Amended and Restated Omnibus Performance Incentive Plan (as may be amended from time to time, the "<u>Plan</u>") and the terms and conditions set forth in this Restricted Stock Unit Award Agreement (the "<u>Agreement</u>"), which Agreement includes the "Terms and Conditions of RSU Agreement" attached hereto as Schedule A.

**CORE NATURAL RESOURCES, INC.**

[Name]

[Title]

**Acceptance:**

To confirm your acceptance of the terms and conditions of this Agreement and of the Plan, within 90 days of issuance of this Agreement, please (i) sign this Agreement below and return the signed copy to the Company or (ii) if provided on an online platform, please check the "Accept" button on such platform.

**GRANTEE:**

**GRANTEE:**

**<u>[Grantee Name]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>**

<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>&nbsp;&nbsp;&nbsp;&nbsp;

[<u>Date]</u>_______________

------

<u>Schedule A</u>

***Core Natural Resources, Inc.<br>Restricted Stock Unit Awards (Director Awards)<br>(Service-Based)***

**<u>Terms and Conditions of RSU Agreement</u>**

1.**RSU Grant**: Effective as of February 17, 2026 (the "<u>Award Date</u>"), Core Natural Resources, Inc. (the "<u>Company</u>") granted to the Grantee service-based Restricted Stock Units with respect to a specified number of shares of Common Stock as set forth in this Agreement (the "<u>RSUs</u>"). By accepting the RSUs, the Grantee acknowledges and agrees that (i) the RSUs are subject to this Agreement and the terms of the Core Natural Resources, Inc. 2020 Amended and Restated Omnibus Performance Incentive Plan (as may be amended from time to time, the "<u>Plan</u>") and (ii) this Agreement and the Plan set forth the entire understanding between the Grantee and the Company regarding the RSUs and supersede all prior oral and written agreements, promises and/or representations on the terms of the RSUs, including, for the avoidance of doubt, any change in control agreements or arrangements entered into prior to the Award Date with the Company, any predecessor to the Company or any affiliate and/or subsidiary of the Company. Each capitalized term not defined in this Agreement has the meaning assigned to such term in the Plan.

2.**Stockholder Rights**: The Grantee will have no rights as a holder of shares of Common Stock with respect to the RSUs granted hereunder. Notwithstanding the foregoing, the Grantee will have the right to receive a cash payment (the "<u>Dividend Equivalent Payment</u>") with respect to the RSUs (if any) that vest pursuant to this Agreement in an amount equal to the aggregate cash dividends that would have been paid to the Grantee if the Grantee had been the record owner, on each record date for a cash dividend during the period from the Award Date through the settlement date of the RSUs, of a number of shares of Common Stock equal to the number of RSUs that actually vest under this Agreement. The Dividend Equivalent Payment will be made at the time the RSUs are settled. The Grantee will not be entitled to receive any payments with respect to any non-cash dividends or other distributions that may be made with respect to shares of Common Stock (but, for clarity, the RSUs will be subject to adjustment for such non-cash dividends or other distributions pursuant to Section 3(d) of the Plan).

3.**Transferability**: The RSUs shall not be sold, transferred, assigned, pledged or otherwise encumbered or disposed, except by will or the laws of descent and distribution.

4.**Vesting**: The RSUs shall vest on February 17, 2027 (the "<u>Vesting Date</u>"); provided that the Grantee continues to be engaged by the Company through the Vesting Date, except as otherwise provided below.

5.**Termination of Service**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.*Without Cause or Any Resignation*. In the event of the Grantee's termination of service at any time prior to the Vesting Date by the Company without Cause or by the Grantee for any or no reason, a pro-rated portion of the RSUs shall vest as of the date of such termination in an amount determined by multiplying (i) the total number of RSUs granted under this Agreement, by (ii) a fraction, the numerator of which is the number of days during the period beginning on the Award Date and ending on the date of such termination of service, and the denominator of

Sched. A-1

------

which is 365. Any RSUs that do not vest on the date of such termination will be forfeited. The vested RSUs shall be settled as described in Section 7 below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.*Death or Disability*. In the event of the Grantee's termination of service at any time prior to the Vesting Date by reason of death or by the Company due to the Grantee's Disability, the RSUs shall vest in full as of the date of such termination. The vested RSUs shall be settled as described in Section 7 below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.*For Cause*. In the event of the Grantee's termination of service at any time prior to the Vesting Date by the Company for Cause, all unvested RSUs will be forfeited.

6.**Change in Control**: Except as otherwise may be provided pursuant to Section 12 of the Plan, in the event of a Change in Control at any time after the Award Date and prior to the Vesting Date, the RSUs shall be eligible to vest as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.*RSUs Assumed in Change in Control*. In the event the RSUs become a Substitute Award in connection with such Change in Control, the RSUs will continue to be eligible to vest on the Vesting Date, subject to the Grantee's continued service with the Company through such Vesting Date, and shall be settled as described in Section 7 below. Notwithstanding the foregoing, in the event of the Grantee's termination of service by the Company without Cause, by the Grantee for any or no reason, by reason of death or by the Company due to Grantee's Disability, in any case, at any time on or following the date of the Change in Control and prior to the Vesting Date (a "<u>Change in Control Qualifying Termination</u>"), the RSUs shall vest in full as of the date of such Change in Control Qualifying Termination and shall be settled as described in Section 7 below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.*RSUs Not Assumed in Change in Control*. In the event the RSUs do not become a Substitute Award in connection with such Change in Control, the RSUs shall vest in full as of the date of such Change in Control, subject to the Grantee's continued service with the Company through such date, and shall be settled as described in Section 7 below.

7.**Settlement**: Any RSUs not previously forfeited shall be settled by delivery of one share of Common Stock for each RSU that vests. The vested RSUs shall be settled as soon as practicable after the applicable vesting date (including, without limitation, for this purpose vesting upon the Grantee's termination of service as provided in Section 5(a), Section 5(b) and Section 6(a) in connection with a Change in Control Qualifying Termination or vesting upon a Change in Control as provided in Section 6(b)), but in no event later than 60 days after the applicable vesting date.

8.**Tax Withholding**: The Grantee is solely responsible for the satisfaction of all taxes and penalties that may arise in connection with the RSUs.

9.**No Right to Continued Service**: The Grantee understands and agrees that this Agreement does not impact the right of the Company or any of its affiliates engaging the Grantee to terminate or change the terms of the Grantee's service at any time for any reason, with or without cause.

10.**Agreement Governs**: In the event of a conflict between one or more provisions of this Agreement and one or more provisions of the Plan, the provisions of this Agreement shall govern; provided that Section 3(d), Section 12 and Section 13(b) of the Plan shall govern over any conflicting provision of this Agreement.

Sched. A-2

------

11.**Waiver of Prior Equity Treatment**: The Grantee acknowledges and agrees that the terms of this Agreement apply to a termination of the Grantee's employment following the Award Date and waives any right to accelerated vesting or other unique provisions or treatment under any prior oral and written agreements, promises and/or representations with respect to an equity award, including any change in control agreements or arrangements entered into prior to the Award Date with the Company, any predecessor to the Company or any affiliate and/or subsidiary of the Company.

12.**Captions**: Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.

13.**Severability**: In the event that any provision in this Agreement shall be held invalid or unenforceable for any reason, such provision shall be severable from, and such invalidity or unenforceability shall not be construed to have any effect on, the remaining provisions of this Agreement.

14.**Definitions**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a."<u>Cause</u>" has the meaning given to such term in the Grantee's offer letter or other applicable service agreement with the Company, a subsidiary of the Company or any predecessor to the Company or a subsidiary, or if there is no such definition, as defined in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b."<u>Change in Control</u>" means, notwithstanding anything in the Plan to the contrary, the earliest to occur of: (1) any one "person" as such term is used in Sections 13(d) and 14(d) of the Exchange Act (other than (A) the Company, (B) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (C) any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of Shares), or more than one "person" acting as a "group," is or becomes the "beneficial owner" (as defined in Rule 13d-3 under the Exchange Act) of Shares that, together with the Shares held by such "person" or "group," possess more than 40% of the total fair market value or total voting power of the Shares and other stock of the Company; (2) a majority of members of the Board is replaced during any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election; or (3) the sale of all or substantially all of the Company's assets (which shall be determined in the sole discretion of the Committee); provided, however, that, in addition to the foregoing, such event must also qualify as a "Change in Control" event within the meaning of Treas. Reg. Section 1.409A-3(i)(5)(i) with respect to the Company. For the avoidance of doubt, references within this definition of "Change in Control" to the "Company" are solely to Core Natural Resources, Inc., such that a sale of a subsidiary of Core Natural Resources, Inc. shall not constitute a "Change in Control" under this Agreement unless otherwise determined in the sole discretion of the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c."<u>Disability</u>" has the meaning given to such term in the Plan.

Sched. A-3

## Exhibit 31.1

**Exhibit 31.1**

**CERTIFICATIONS**

I, James A. Brock, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Core Natural Resources, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: | May 7, 2026 |
| /s/ James A. Brock | /s/ James A. Brock |
| James A. Brock | James A. Brock |
| Chair and Chief Executive Officer | Chair and Chief Executive Officer |
| (Principal Executive Officer) | (Principal Executive Officer) |

---

## Exhibit 31.2

**Exhibit 31.2**

**CERTIFICATIONS**

I, Miteshkumar B. Thakkar, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Core Natural Resources, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: | May 7, 2026 |
| /s/ Miteshkumar B. Thakkar | /s/ Miteshkumar B. Thakkar |
| Miteshkumar B. Thakkar | Miteshkumar B. Thakkar |
| President and Chief Financial Officer | President and Chief Financial Officer |
| (Principal Financial Officer) | (Principal Financial Officer) |

---

## Exhibit 32.1

**Exhibit 32.1**

**CERTIFICATION**

**Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350**

I, James A. Brock, Chair and Chief Executive Officer (principal executive officer) of Core Natural Resources, Inc. (the "Registrant"), certify that to my knowledge, based upon a review of the Quarterly Report on Form 10-Q for the period ended March 31, 2026, of the Registrant (the "Report"):

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

---

| | |
|:---|:---|
| Date: | May 7, 2026 |
| /s/ James A. Brock | /s/ James A. Brock |
| James A. Brock | James A. Brock |
| Chair and Chief Executive Officer | Chair and Chief Executive Officer |
| (Principal Executive Officer) | (Principal Executive Officer) |

---

## Exhibit 32.2

**Exhibit 32.2**

**CERTIFICATION**

**Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350**

I, Miteshkumar B. Thakkar, President and Chief Financial Officer (principal financial officer) of Core Natural Resources, Inc. (the "Registrant"), certify that to my knowledge, based upon a review of the Quarterly Report on Form 10-Q for the period ended March 31, 2026, of the Registrant (the "Report"):

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

---

| | |
|:---|:---|
| Date: | May 7, 2026 |
| /s/ Miteshkumar B. Thakkar | /s/ Miteshkumar B. Thakkar |
| Miteshkumar B. Thakkar | Miteshkumar B. Thakkar |
| President and Chief Financial Officer | President and Chief Financial Officer |
| (Principal Financial Officer) | (Principal Financial Officer) |

---

## Ex-95

**Exhibit 95**

**Mine Safety and Health Administration Safety Data**

We believe that Core Natural Resources is one of the safest mining companies in the world. The Company has in place health and safety programs that include extensive employee training, accident prevention, workplace inspection, emergency response, accident investigation, regulatory compliance and program auditing. The objectives of our health and safety programs are to eliminate workplace incidents, comply with all mining-related regulations and provide support for both regulators and the industry to improve mine safety.

The operation of our mines is subject to regulation by the federal Mine Safety and Health Administration (MSHA) under the Federal Mine Safety and Health Act of 1977 (Mine Act). MSHA inspects our mines on a regular basis and issues various citations, orders and violations when it believes a violation has occurred under the Mine Act. We present information below regarding certain mining safety and health violations, orders and citations issued by MSHA and related assessments and legal actions and mine-related fatalities with respect to our coal mining operations. In evaluating this information, consideration should be given to factors such as: (i) the number of violations, orders and citations will vary depending on the size of the coal mine, (ii) the number of violations, orders and citations issued will vary from inspector to inspector and mine to mine, and (iii) violations, orders and citations can be contested and appealed, and in that process, are often reduced in severity and amount, and are sometimes dismissed.

The table below sets forth for the three months ended March 31, 2026 for each coal mine of Core Natural Resources and its subsidiaries, the total number of: (i) violations of mandatory health or safety standards that could significantly and substantially contribute to the cause and effect of a coal or other mine safety or health hazard under section 104 of the Mine Act for which the operator received a citation from MSHA; (ii) orders issued under section 104(b) of the Mine Act; (iii) citations and orders for unwarrantable failure of the mine operator to comply with mandatory health or safety standards under section 104(d) of the Mine Act; (iv) flagrant violations under section 110(b)(2) of the Mine Act; (v) imminent danger orders issued under section 107(a) of the Mine Act; (vi) the total dollar value of proposed assessments from MSHA (regardless of whether Core Natural Resources has challenged or appealed the assessment); (vii) the total number of mining-related fatalities; (viii) notices from MSHA of a pattern of violations of mandatory health or safety standards that are of such nature as could have significantly and substantially contributed to the cause and effect of coal or other mine health or safety hazards under section 104(e) of the Mine Act; (ix) notices from MSHA regarding the potential to have a pattern of violations as referenced in (viii) above; and (x) pending legal actions before the Federal Mine Safety and Health Review Commission (as of March 31, 2026) involving such coal or other mine, as well as the aggregate number of legal actions instituted and the aggregate number of legal actions resolved during the reporting period.

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Mine or Operating Name/MSHA Identification Number** | **Mine or Operating Name/MSHA Identification Number** | **Section 104 S&S Citations** | **Section 104(b) Orders** | **Section 104(d) Citations and Orders** | **Section 110(b)(2) Violations** | **Section 107(a) Orders** | **Total Dollar Value of MSHA Assessments Proposed (In Dollars)** | **Total Number of Mining-Related Fatalities** | **Received Notice of Pattern of Violations Under Section 104(e)** | **Received Notice of Potential to have Pattern Under Section 104(e)** | **Legal Actions Pending as of Last Day of Period** <sup>(1)</sup> | **Legal Actions Initiated During Period** | **Legal Actions Resolved During Period** |
| <u>Active Operations</u> |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Bailey Mine | 3607230 | 12 |  |  |  |  | 17931 |  | No | No | 7 | 4 | 2 |
| Beckley Pocahontas Mine | 4605252 | 25 |  |  |  |  | 119420 |  | No | No | 2 | 3 | 2 |
| Beckley Pocahontas Plant | 4609216 |  |  |  |  |  | 302 |  | No | No |  |  |  |
| Black Thunder | 4800977 | 1 |  |  |  |  |  |  | No | No | 2 | 1 |  |
| Cardinal Preparation Plant | 4609046 |  |  |  |  |  | 302 |  | No | No |  |  |  |
| Coal Creek Mine | 4801215 | 1 |  |  |  |  | 604 |  | No | No | 1 | 1 |  |
| Eccles Refuse Area | 4609023 |  |  |  |  |  |  |  | No | No |  |  |  |
| Enlow Fork Mine | 3607416 | 5 |  |  |  |  | 10251 |  | No | No | 4 | 2 | 2 |
| Harvey Mine | 3610045 | 4 |  |  |  |  | 6712 |  | No | No | 6 | 4 | 1 |
| Itmann No 5 | 4609569 | 6 |  |  |  |  | 8151 |  | No | No | 6 | 2 | 2 |
| Itmann No.5 Plant | 4609598 |  |  |  |  |  | 302 |  | No | No | 1 | 1 |  |
| Leer Mine | 4609192 | 11 |  |  |  |  | 38000 |  | No | No | 4 | 3 | 3 |
| Leer Prep Plant | 4609191 |  |  |  |  |  |  |  | No | No |  |  |  |
| Leer South Mine | 4604168 | 20 |  |  |  |  | 48668 |  | No | No | 5 | 2 |  |
| Leer South Preparation Plant | 4608777 |  |  |  |  |  | 151 |  | No | No |  |  |  |
| Meigs #31 Mine | 3301172 |  |  |  |  |  |  |  | No | No |  | 1 | 1 |
| Mountaineer II Mine | 4609029 | 42 |  |  |  | 1 | 122437 |  | No | No | 6 | 3 |  |
| Robena Preparation Plant | 3604175 |  |  |  |  |  |  |  | No | No |  |  |  |
| Upshur Complex | 4605823 |  |  |  |  |  |  |  | No | No |  |  |  |
| West Elk Mine | 0503672 | 9 |  |  |  |  | 22081 |  | No | No | 8 | 2 |  |
|  |  | 136 |  |  |  | 1 | 395312 |  |  |  | 52 | 29 | 13 |

---

(1) See table below for additional details regarding Legal Actions Pending as of March 31, 2026. With respect to Contests of Proposed Penalties, we have included the number of dockets (as opposed to citations) when counting the number of Legal Actions Pending as of March 31, 2026.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Mine or Operating Name/<br>MSHA Identification Number** | **Mine or Operating Name/<br>MSHA Identification Number** | **Contests of Citations, Orders<br>(as of 3.31.2026)** | **Contests of Proposed Penalties<br>(as of 3.31.2026)<br>(b)** | **Contests of Proposed Penalties<br>(as of 3.31.2026)<br>(b)** | **Complaints for Compensation<br>(as of 3.31.2026)** | **Complaints of Discharge, Discrimination or Interference<br>(as of 3.31.2026)** | **Applications for Temporary Relief<br>(as of 3.31.2026)** | **Appeals of Judges' Decisions or Order<br>(as of 3.31.2026)** |
| **Mine or Operating Name/<br>MSHA Identification Number** | **Mine or Operating Name/<br>MSHA Identification Number** | **(a)** | **Dockets** | **Citations** | **(c)**  | **(d)**  | **(e)** | **(f)** |
| <u>Active Operations</u> |  |  |  |  |  |  |  |  |
| Bailey Mine | 3607230 |  | 7 | 18 |  |  |  | 2 |
| Beckley Pocahontas Mine | 4605252 |  | 2 | 120 |  |  |  |  |
| Beckley Pocahontas Plant | 4609216 |  |  |  |  |  |  |  |
| Black Thunder | 4800977 |  | 2 | 6 |  |  |  |  |
| Cardinal Preparation Plant | 4609046 |  |  |  |  |  |  |  |
| Coal Creek Mine | 4801215 |  | 1 | 2 |  |  |  |  |
| Eccles Refuse Area | 4609023 |  |  |  |  |  |  |  |
| Enlow Fork Mine | 3607416 |  | 4 | 6 |  |  |  | 1 |
| Harvey Mine | 3610045 |  | 6 | 12 |  |  |  |  |
| Itmann No 5 | 4609569 |  | 6 | 97 |  |  |  |  |
| Itmann No.5 Plant | 4609598 |  | 1 | 2 |  |  |  |  |
| Leer Mine | 4609192 |  | 4 | 24 |  |  |  |  |
| Leer Prep Plant | 4609191 |  |  |  |  |  |  |  |
| Leer South Mine | 4604168 |  | 5 | 35 |  |  |  |  |
| Leer South Preparation Plant | 4608777 |  |  |  |  |  |  |  |
| Meigs #31 Mine | 3301172 |  |  |  |  |  |  |  |
| Mountaineer II Mine | 4609029 |  | 6 | 68 |  |  |  |  |
| Robena Preparation Plant | 3604175 |  |  |  |  |  |  |  |
| Upshur Complex | 4605823 |  |  |  |  |  |  |  |
| West Elk Mine | 0503672 |  | 8 | 31 |  |  |  |  |
|  |  |  | 52 | 421 |  |  |  | 3 |

---

(a) Represents (if any) contests of citations and orders, which typically are filed prior to an operator's receipt of a proposed penalty assessment from MSHA or relate to orders for which penalties are not assessed (such as imminent danger orders under Section 107 of the Mine Act). This category includes: (i) contests of citations or orders issued under section 104 of the Mine Act, (ii) contests of imminent danger withdrawal orders under section 107 of the Mine Act, and (iii) Emergency response plan dispute proceedings (as required under the Mine Improvement and New Emergency Response Act of 2006, Pub. L. No. 109-236, 120 Stat. 493).

(b) Represents (if any) contests of proposed penalties, which are administrative proceedings before the Federal Mine Safety and Health Review Commission ("FMSHRC") challenging a civil penalty that MSHA has proposed for the violation contained in a citation or order.

(c) Represents (if any) complaints for compensation, which are cases under section 111 of the Mine Act that may be filed with the FMSHRC by miners idled by a closure order issued by MSHA who are entitled to compensation.

(d) Represents (if any) complaints of discharge, discrimination or interference under section 105 of the Mine Act, which cover: (i) discrimination proceedings involving a miner's allegation that he or she has suffered adverse employment action because he or she engaged in activity protected under the Mine Act, such as making a safety complaint, and (ii)

------

temporary reinstatement proceedings involving cases in which a miner has filed a complaint with MSHA stating that he or she has suffered such discrimination and has lost his or her position. Complaints of Discharge, Discrimination, or Interference are also included in Contests of Proposed Penalties, Column B.

(e) Represents (if any) applications for temporary relief, which are applications under section 105(b)(2) of the Mine Act for temporary relief from any modification or termination of any order or from any order issued under section 104 of the Mine Act (other than citations issued under section 104(a) or (f) of the Mine Act).

(f) Represents (if any) appeals of judges' decisions or orders to the FMSHRC, including petitions for discretionary review and review by the FMSHRC on its own motion.

<br>