Warrior Updates 2023 Outlook

Warrior Met Coal, Inc. (NYSE: HCC) (“Warrior” or the “Company”) today announced revised guidance for the fiscal year 2023 in light of the end of the labor strike and resulting incremental production volume as eligible employees return to work. Warrior is the leading dedicated U.S.-based producer and exporter of high quality metallurgical (“met”) coal for the global steel industry.

As previously disclosed, on February 16, 2023, the labor union representing certain of the Company’s hourly employees announced that they were ending the labor strike that started in April 2021 and made an unconditional offer to return to work. The Company began the return-to-work process with the eligible employees who wished to return while continuing to engage in good faith efforts with the labor union to reach an agreement on a new contract. The return-to-work process has been ongoing since February and is now substantially complete.

Approximately 250 eligible union-represented employees returned to work following the end of the strike, and therefore the Company adjusted work schedules to maximize the amount of incremental production and revised the budget and outlook for the full year. The incremental production and sales volume is approximately 500,000 short tons, primarily occurring in the second half of 2023. As a result of the incremental volumes, the Company has revised its overall outlook and financial targets for 2023.

“We are pleased to welcome back the returning employees and look forward to the incremental impact on our sales and production volumes this year,” commented Walt Scheller, CEO of Warrior. “Despite our ability to continue to operate our business successfully during the labor strike, the upside to an increased workforce is material, but we are still short of our historical staffing levels. Moving forward, we believe that Warrior remains well positioned to capitalize on its low-cost position and strong production volumes to drive enhanced stockholder value, including through investment in the world-class Blue Creek reserves.”

Company Outlook

The Company's revised guidance for the full year 2023 is outlined below.

Coal sales	7.1 - 7.7 million short tons
Coal production	6.8 – 7.4 million short tons
Cash cost of sales (free-on-board port)	$113 - $125 per short ton
Capital expenditures for existing mines