Investor Presentaiton
CORE TRANSACTION EXECUTIVE SUMMARY
Unlocking value in attractive assets
RAMACO
RESOURCES
Transaction Overview
METCB is being distributed via a tax-free
dividend and represents the economic
performance of the CORE Assets (Carbon
Ore Rare Earth).
Holders of Ramaco common stock
(METC) as of May 12, 2023 will receive 0.2
shares of METCB1 for each 1.0 shares of
METC in a tax-free dividend². Contingent
upon receiving shareholder approval of
the Charter Amendment Proposal at the
Special Meeting on June 12. Distribution
expected on June 21, 2023.
CORE is not a separate legal entity and
METCB holders will not own a direct
interest in CORE.
METCB1 is expected to pay a cash
dividend based on the financial
performance of the CORE assets that will
initially be based on 20% of CORE'S
income. Remaining 80% of income will
be retained by Ramaco.
METCB Investment Benefits
Unique Investment Profile
We believe that CORE's non-cost bearing
coal royalties, coal infrastructure, REE
royalties and carbon products IP licensing
are forms of passive income that are
fundamentally different than our met coal
mining operations, which may lead CORE
to be valued based on the lower risk profile
of the majority of such assets.
Increased Transparency
We believe that paying a separate
dividend based on the financial
performance of CORE in addition to the
regular dividend on METC, in each case
subject to the discretion of our Board, can
create additional value for shareholders.
Common Ownership and Flexibility
Structure allows Company to retain
advantages of doing business as a single
company (shared management,
technology synergies, cost savings).
CORE Assets
> Coal Infrastructure Assets
$5/ton fee for coal processed in our preparation
plants + $2.50/ton fee for coal loaded at our
railroad facilities.
Coal Royalty Fees
~3% of METC produced sales revenue on average.
Rare Earth Elements (REE) & Carbon
Products
Potential future royalty income from our activities
in WY.
METCB Dividend Profile³,4
2022
2023
Forecasted Dividend Per Share
$0.60
$0.91
Forecasted Dividends ($ MM)
$5.64
$8.48
(1) METCB is the expected ticker symbol for the Class B common stock. (2) The receipt of cash in lie of fractional shares will generally be taxable to the recipient shareholders. (3))
Dividends on our Class B common stock are subject to Board discretion and may fluctuate materially quarter to quarter. We cannot guarantee that we will be able to pay dividends in
the future or what the actual dividends will be for any future periods. (4) Represents 12-month basis. Detail can be found in S-1/A as filed with the U.S. Securities and Exchange
Commission on 6/8/23.
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