Investor Presentaiton

RAMACO'S REE DEPOSIT Potentially transformative discovery REE Background: What Are REES?: Rare earth elements (REEs) are critical minerals essential to the energy transition. They are used in many applications such as electric vehicles, wind turbines, smartphones, and defense applications. Almost 90% of the world's REEs are processed in China. Magnetic Rare Earths: Permanent magnets ("PMS") are crucial to the energy transition as they are critical inputs to electric vehicle motors and other high-end applications. The strongest PMs use magnetic rare earth materials, notably neodymium (Nd), praseodymium (Pr), dysprosium (Dy) and terbium (Tb). Dy and Tb are heavy REES used in high end defense applications, and thus, are of strategic importance to the U.S. and other countries. Anticipated Demand Growth: The International Energy Agency believes demand for REES may grow as much as sevenfold by 2040. Ramaco's Involvement With NETL: General Geopolitical Concerns: The vast majority of the world's REEs are processed in China yet have strategic importance in both the energy transition and defense applications. As a result, REES have received a tremendous amount of attention and economic support from many world governments concerned about reliance on China. The U.S., Congress and the Department of Energy have earmarked billions of dollars to develop a domestic supply of REES. Since 2014, the National Energy Technology Laboratory ("NETL"), has been identifying potential domestic sources of REES as strategically critical to the economy and national security. NETL Notes Ramaco's Deposit is Highly Promising: NETL has worked in partnership with Ramaco over several years, to assess REE occurrences in coal deposits and related sedimentary strata at its Brook Mine property in Sheridan, WY. NETL analysis shows that core samples from the Brook Mine represent highly promising, world-class medium REE and heavy REE accumulations. Based on this data, the Brook Mine could rank among the more promising worldwide deposits. Weir International's Technical Report Exploration Target Defined: Weir International, Inc. noted that as of May 31, 2023, Ramaco has drilled 146 core holes targeting the REE mineralization zone, with 58 of those cores having been scanned by portable x-ray fluorescence ("XRF"), and 1,140 test samples having been conducted using inductively coupled plasma ("ICP") spectroscopy. On May 2, 2023, Weir International set an initial Exploration Target of 636,000 - 795,000 in-place Rare Earth Oxide ("REO") tons. On May 31, 2023, this estimate was updated and increased to a range of 694,000-867,000 tons, based on additional drilling and analysis. 22.9% of the total REO basket consists of primary magnetic REOs of neodymium, praseodymium, dysprosium and terbium. An additional 6.3% of the REO basket consists of secondary magnetic REOs. RAMACO RESOURCES 20

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