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Natural Resource Partners L.P. Announces Private Offering of Senior Notes

HOUSTON–(BUSINESS WIRE)–Natural Resource Partners L.P. (NYSE: NRP) announced today that
it intends to offer, subject to market and other conditions, $275
million aggregate principal amount of senior notes due 2025 in a private
placement to eligible purchasers. NRP Finance Corporation, a wholly
owned subsidiary of NRP, will co-issue the notes. NRP intends to use the
net proceeds from the offering, together with cash on hand, to fund the
redemption of all of its outstanding 10.500% senior notes due 2022 (the
“2022 Senior Notes”). Today, NRP delivered a conditional notice that,
subject to completion of the offering, it will redeem all of its
outstanding 2022 Senior Notes on May 11, 2019 at a redemption price
equal to 105.250% of the principal amount of the 2022 Senior Notes
redeemed, plus accrued and unpaid interest.

The notes will not be registered under the Securities Act of 1933, as
amended (the “Securities Act”), or the securities laws of any state and
may not be offered or sold in the United States absent registration or
an applicable exemption from the registration requirements under the
Securities Act and applicable state securities laws or blue sky laws and
foreign securities laws.

The notes will be offered only to qualified institutional buyers under
Rule 144A under the Securities Act and to persons outside the United
States under Regulation S under the Securities Act.

This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any securities, nor shall there be any
sale of these securities in any state in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under
the securities laws of any such state.

Company Profile

Natural Resource Partners L.P., a master limited partnership
headquartered in Houston, TX, is a diversified natural resource company
that owns, manages and leases a diversified portfolio of mineral
properties in the United States including interests in coal, industrial
minerals and other natural resources. A large percentage of NRP’s
revenues are generated from royalties and other passive income. In
addition, NRP owns an equity investment in Ciner Wyoming, a trona/soda
ash operation.

Cautionary Note Regarding Forward-Looking Statements

This press release includes “forward-looking statements” as defined
by the Securities and Exchange Commission. All statements, other than
statements of historical facts, included in this press release that
address activities, events or developments that the partnership expects,
believes or anticipates will or may occur in the future are
forward-looking statements. These statements are based on certain
assumptions made by the partnership based on its experience and
perception of historical trends, current conditions, expected future
developments and other factors it believes are appropriate in the
circumstances. Such statements are subject to a number of assumptions,
risks and uncertainties, many of which are beyond the control of the
partnership. These risks include, but are not limited to, commodity
prices; decreases in demand for coal, aggregates and industrial
minerals, including trona/soda ash; changes in operating conditions and
costs; production cuts by our lessees; unanticipated geologic problems;
our liquidity, leverage and access to capital and financing sources;
changes in the legislative or regulatory environment, litigation risk,
and other factors detailed in Natural Resource Partners’ Securities and
Exchange Commission filings. Natural Resource Partners L.P. has no
obligation to publicly update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise.

For additional information, please contact Tiffany Sammis at
713-751-7515 or [email protected]


Tiffany Sammis, 713-751-7515
[email protected]