Ramaco Resources, Inc.

Ramaco Resources, Inc. is an operator and developer of high-quality, low-cost metallurgical coal in southern West Virginia and southwestern Virginia, and is exploring a coal, rare earth, and other critical minerals project in Wyoming. The company was formed in October 2016 and has principal corporate and executive offices in Lexington, Kentucky, with operational offices in Charleston, West Virginia, and Sheridan, Wyoming. Ramaco's metallurgical coal development portfolio primarily includes the Elk Creek, Berwind, Knox Creek, and Maben properties. These properties are believed to offer geologic and logistical advantages, making their coal among the lowest delivered-cost U.S. metallurgical coal for domestic customers, including North American blast furnace steel mills and coke plants, as well as international metallurgical coal consumers. The company maintains 85 million reserve tons and 1,337 million measured and indicated resource tons of high-quality metallurgical coal. In mid-2025, Ramaco held a ribbon cutting and groundbreaking event at its rare earth element and critical mineral exploration property near Sheridan, Wyoming, known as the Brook Mine. The Brook Mine is currently an exploration stage property for its rare earth element and critical mineral operations. It initially produced representative material for testing to demonstrate the viability of processing rare earth elements and critical minerals and to establish mineral reserves and resources. Contiguous to the Brook Mine, the company operates a carbon research facility focused on producing advanced carbon products and materials from coal. Ramaco's operations are organized into two reportable segments: Metallurgical Coal and Rare Earths and Critical Minerals.