Contura Issues Statement on MG Capital Letter

BRISTOL, Tenn., October 13, 2020 – Contura Energy, Inc. (NYSE: CTRA) today issued the following statement in response to the letter the Company’s Board of Directors received from MG Capital Management, Ltd.:

Contura welcomes the opportunity to engage with its shareholders and we welcome constructive input relating to enhancing shareholder value. We remain focused on delivering long-term shareholder value and will continue to take actions to achieve that objective. Although we would have preferred that MG Capital engage with Contura privately, we have reviewed and considered the MG Capital letter. MG Capital, the Board, and the executive management team are closely aligned in their goals and strategic direction for the Company; however, we believe that a number of the underlying assertions in the letter are inaccurate and we wish to clarify some of them.

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Contura Announces Second Quarter 2020 Results

• Reports net loss from continuing operations of $238 million for the second quarter 2020, including a pre-tax, non-cash asset impairment charge of $162 million
• Posts Adjusted EBITDA(1) of $17 million for the second quarter 2020
• Maintains strong cost management in all operating segments and overhead
• Executes on long-term strategic portfolio optimization
• Reduces long-term debt by approximately $25 million in the second quarter of 2020
• Continues conservative financial management with liquidity of $240 million at quarter-end and $66 million in AMT refunds expected to be received in second half of 2020

BRISTOL, Tenn., August 7, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, today reported results for the second quarter ending June 30, 2020.

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Contura to Announce Second Quarter 2020 Financial Results on August 7

BRISTOL, Tenn., July 31, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, plans to announce its second quarter 2020 financial results before the market opens on Friday, August 7, 2020.

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Contura Announces Strategic Actions to Strengthen Financial Performance

Kielty Mine to Idle Due to Market Conditions; Company Will Not Invest Capital to Build New Impoundment at the Cumberland Mine

BRISTOL, Tenn., June 22, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, today announced strategic actions regarding two of its large properties that will allow the company to further strengthen its financial performance and to rationalize its production in light of market conditions.

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Contura Completes Exit from Powder River Basin

BRISTOL, Tenn., May 29, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, today announced the end of its connection with the Powder River Basin in Wyoming.

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Contura Announces First Quarter 2020 Results

• Reports net loss from continuing operations of $40 million for the first quarter 2020, including a pre-tax non-cash asset impairment charge of $34 million
• Posts impressive adjusted EBITDA(1) of $60 million for the first quarter 2020
• Continues very strong cost management with CAPP – Met costs declining more than $10 per ton compared to the fourth quarter of 2019
• Reports liquidity of $257 million and expects to receive $68 million in accelerated AMT tax refund by early third quarter
• Announces prestigious safety and environmental awards earned by Contura operations

BRISTOL, Tenn., May 11, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, today reported results for the first quarter ending March 31, 2020.

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Contura to Announce First Quarter 2020 Financial Results on May 11

BRISTOL, Tenn., May 4, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, plans to announce its first quarter 2020 financial results before the market opens on Monday, May 11, 2020.

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Contura Announces Temporary Operational Changes

BRISTOL, Tenn., April 3, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, today announced temporary operational changes in response to market conditions, existing coal inventory levels, and recent customer deferrals due to concern around the global economic impact of the coronavirus pandemic.

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Contura Announces Partial Draw Down of Revolving Credit Facility

BRISTOL, Tenn., March 23, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, today announced the Company has drawn down $57.5 million in principal amount under its revolving credit facility as a proactive, precautionary measure in light of the COVID-19 pandemic and its potential effects upon national and world economies.

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Earnings Call Rescheduled for 2:00 p.m. Today Due to Third-Party Technical Difficulties

BRISTOL, Tenn., March 18, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, today announced the rescheduling of this morning’s earnings call due to technical issues with a third-party provider.

The earnings call with Contura management has been rescheduled for this afternoon, March 18, at 2:00 p.m. eastern time.

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Contura Announces Fourth Quarter 2019 Results

• Net Loss from continuing operations of $192 million for the fourth quarter 2019 included a pre-tax non-cash asset impairment charge of $60 million and a goodwill impairment of $124 million
• Adjusted EBITDA(1) of $31 million for the fourth quarter 2019(2)
• Reducing 2020 capital expenditures guidance by $30 million, maintaining other guidance

BRISTOL, Tenn., March 18, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, today reported results for the fourth quarter ending December 31, 2019.

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Contura to Announce Fourth Quarter 2019 Financial Results on March 18

BRISTOL, Tenn., March 12, 2020 – Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, plans to announce its financial results for the fourth quarter 2019 before the market opens on Wednesday, March 18, 2020.

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