Warrior Met Coal Launches Proposed $350 Million Offering of Senior Secured Notes

BROOKWOOD, Ala.–(BUSINESS WIRE)–Warrior Met Coal, Inc. (NYSE:HCC) (“Warrior” or the “Company”) today
announced that it proposes to offer, subject to market conditions and
other factors, $350 million in aggregate principal amount of senior
secured notes due 2024 (the “Notes”) in a private offering that is
exempt from the registration requirements of the Securities Act of 1933,
as amended (the “Securities Act”). Warrior expects to use the net
proceeds of the offering of the Notes, together with cash on hand of
approximately $260 million, to pay, during 2017, a special cash dividend
of approximately $600 million to all of its stockholders on a pro rata
basis.

The Notes will be initially guaranteed by each of Warrior’s direct or
indirect wholly-owned domestic restricted subsidiaries that are
borrowers or guarantors under Warrior’s Asset-Based Revolving Credit
Agreement Facility, dated as of April 1, 2016, as amended.

The Notes will be offered and sold to persons reasonably believed to be
qualified institutional buyers pursuant to Rule 144A under the
Securities Act and to certain non-U.S. persons outside the United States
pursuant to Regulation S under the Securities Act.

The Notes have not been and will not be registered under the Securities
Act or applicable state securities laws and may not be offered or sold
in the United States absent registration or an applicable exemption from
the registration requirements of the Securities Act and applicable state
laws.

This press release is neither an offer to sell nor a solicitation of an
offer to buy any of the Notes or any other securities and shall not
constitute an offer, solicitation or sale in any state or jurisdiction
in which such offer, solicitation or sale is unlawful.

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. All
statements, other than statements of historical facts, included in this
press release that address activities, events or developments that the
Company expects, believes or anticipates will or may occur in the future
are forward-looking statements. The words “believe,” “expect,”
“anticipate,” “plan,” “intend,” “estimate,” “project,” “target,”
“foresee,” “should,” “would,” “could,” “potential,” or other similar
expressions are intended to identify forward-looking statements.
However, the absence of these words does not mean that the statements
are not forward-looking. These forward-looking statements represent
management’s good faith expectations, projections, guidance or beliefs
concerning future events, and it is possible that the results described
in this press release will not be achieved. Specifically, the Company
cannot assure you that the proposed transactions described above,
including the payment of the special dividend, will be consummated on
the terms the Company currently contemplates, if at all. Information
concerning these and other factors can be found in the Company’s filings
with the U.S. Securities and Exchange Commission (“SEC”), including its
Registration Statement on Form S-1 (File No. 333-216499) and Form 10-Q
for the quarterly period ended June 30, 2017 and other reports filed
from time to time with the SEC. The Company’s filings with the SEC are
available on the SEC's website at www.sec.gov.

Any forward-looking statement speaks only as of the date on which it
is made, and, except as required by law, the Company does not undertake
any obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise. New
factors emerge from time to time, and it is not possible for the Company
to predict all such factors.

Contacts

Warrior Met Coal, Inc.
Investor Relations:
Dale W.
Boyles, 205-554-6129
[email protected]
or
Media
Relations:
William Stanhouse, 205-554-6131
[email protected]