Core Natural Resources CNR

Core Natural Resources Inc is a world class producer and exporter of high quality low cost coals including metallurgical and thermal coals. The company plays an essential role in meeting the world's growing need for energy, steel, cement and other infrastructure solutions. It owns interests in two marine export terminals and has access to several third party owned terminals. Coal mining activities have been conducted primarily in the Appalachian Basin since 1864. The firm was incorporated in Delaware on June 21 2017 and became an independent publicly traded company on November 28 2017. It began regular way trading under the name CONSOL Energy Inc and ticker symbol CEIX on the New York Stock Exchange on November 29 2017. On January 14 2025 it completed an all stock merger of equals with Arch and was renamed Core Natural Resources Inc beginning trading under ticker CNR on January 15 2025. The principal executive offices are located at 275 Technology Drive Suite 101 Canonsburg Pennsylvania 15317. The company maintains a website at http://www.corenaturalresources.com.

Core Natural Resources Inc generates revenue primarily from the sale of coal produced at its mines and from coal purchased from other producers. The company sells high calorific value thermal coal, metallurgical coal, and Powder River Basin thermal coal. In 2025 total revenues were $4,165 million with average realized coal revenue per ton of $60.34 for high calorific value thermal coal, $102.36 for metallurgical coal, and $14.46 for Powder River Basin coal. In 2024 total revenues were $2,164 million and in 2023 total revenues were $2,507 million. The company’s coal is sold to U. S. electric power generators, export markets, and other domestic customers. Approximately 37% of 2025 coal revenue came from U. S. electric power generators, 56% from export markets comprising 8% power generators, 20% industrial, and 28% metallurgical customers, and 7% from other domestic customers. Revenue is derived from a mix of multi year contracts, spot sales, and longer term export agreements.

Core Natural Resources Inc holds a strong position in the coal industry due to its world class well capitalized low cost longwall mining complexes. The Pennsylvania Mining Complex achieves approximately 7.45 tons of coal production per employee hour in 2025 demonstrating high productivity. The Leer Complex operates among the lowest cost U. S. metallurgical mines and produces a product quality recognized worldwide. The company controls extensive high quality recoverable reserves with 529.0 million tons at the Pennsylvania Mining Complex and 170.2 million tons at the Leer Complex supporting multiple decades of production. Strategically located logistics assets include full ownership of the Core Marine Terminal, a 35% interest in the Dominion Terminal, and dual rail access via Norfolk Southern and CSX railroads enabling reliable delivery to domestic and export markets. A well established customer base and a highly experienced management team further enhance the company’s competitive stance. Competition comes from numerous large and small producers across all U. S. coal producing basins including firms that export coal abroad.

Core Natural Resources Inc serves a diverse customer base that includes domestic and international industrial customers, metallurgical end users, and electric power generating companies. The company has secured multi year coal sales agreements with many of these customers based on longstanding relationships, reliable delivery, competitive pricing, and high coal quality. Approximately 95% of 2025 sales were to customers that were present in both the company’s and Arch’s 2024 customer portfolios. The international customer base continues to grow owing to favorable access to seaborne coal markets and strong ties with leading coal trading brokering and international coal end users. In 2025 the company exported 24.5 million tons of coal to seaborne markets representing about 62% of its annual high calorific value and metallurgical sales volume.