Ramaco Resources Inc Company Profile

We are an operator and developer of high-quality, low-cost metallurgical coal in southern West Virginia, southwestern Virginia, and southwestern Pennsylvania. We are a pure play metallurgical coal company with 252 million tons of high quality metallurgical coal reserves and advantaged geology leading to lower cash costs. Our near-term development portfolio includes four key assets: Elk Creek, Berwind, RAM Mine and Knox Creek.

We commenced initial production of metallurgical coal at our Elk Creek mining complex in late December 2016. During 2017, we developed and opened two deep mines and a surface mine at Elk Creek. Development production started at a third deep mine at Elk Creek in January 2018. Additionally, we constructed and activated the Elk Creek preparation plant and rail loadout facility in late October 2017. We also began development mining at our Berwind property in late 2017 and continued our purchase coal program which augments our sales. Our production for 2017 totaled 548 thousand clean tons of metallurgical coal.

On February 8, 2017, we completed the IPO of our common stock pursuant to a registration statement on Form S-1 (File 333-215363), as amended and declared effective by the SEC on February 2, 2017. Pursuant to the registration statement, we registered the sale of 6,000,000 shares of $0.01 par value common stock, which included 3,800,000 shares of common stock sold by the Company and 2,200,000 shares of common stock sold by the selling stockholders.

Metallurgical coal is used to make metallurgical coke, a key ingredient in the steel-making process. Coke is used as a fuel and a reducing agent in a blast furnace during the smelting of iron ore into iron before it is converted into steel. Demand for coking coal in the U.S. is limited by the number of coke batteries. Annual U.S. metallurgical coal consumption is approximately 16 to 21 million tons per year. Any supply in excess of what can be consumed domestically is exported to buyers in North America, Africa, Europe, South America and Asia.

Enhancing Coal Purchase Opportunities. During 2017, we purchased 236 thousand clean ton equivalents from third party producers. After washing at one of our coal preparation plants, we sold this tonnage to customers on our own account. We plan to grow this capability in 2018. Purchased coal is complementary from a blending standpoint with our produced coals or it may also be sold as an independent product.

Being a Low-Cost U.S. Producer of Metallurgical Coal. Our reserve base presents advantaged geologic characteristics such as relatively thick coal seams at the deep mines, a low effective mining ratio at the surface mines, and desirable metallurgical coal quality. Furthermore, a majority of the coal seams being developed are accessible near, or above, drainage, thereby reducing up-front development costs. These characteristics contribute to a production profile that we believe will have a cash cost of production that is significantly below most U.S. metallurgical coal producers.

Maintaining a conservative capital structure and prudently managing the business for the long term. We are committed to maintaining a conservative capital structure with minimal debt that will afford us the financial flexibility to execute our business strategies on an ongoing basis.

Demonstrating Excellence in Safety and Environmental Stewardship. We are committed to complying with both regulatory and our own high standards for environmental and employee health and safety.