Investor Presentaiton

INVESTMENT HIGHLIGHTS RAMACO RESOURCES Ramaco has built a low-cost met coal platform, with one of the strongest growth pipelines, a clean balance sheet, record 2022 Adjusted EBITDA and net income, with further upside anticipated in 2023. We hope to transition Ramaco into its next development phase with our recent exciting Rare Earth Element announcement. 01 22 02 03 60 Portfolio of high-quality assets, with long-term growth Strong commitment to ESG principles Clean, flexible balance sheet 04 Record 2022 results, with an even stronger 2023 expected Large, high-quality metallurgical coal reserve base. We intend to meaningfully grow production from under 2 million tons per year in 2020-21 to up to 3.6 million tons in 2023, with a medium-term goal of ~6.5 million tons per year. At the same time, we are among the lowest cost producers of met coal in the U.S. Environmental, Social, and Governance (ESG) principles are core to our strategy. The vast majority of our coal is ultimately used to produce primary steel, which is a crucial component of renewable energy assets, including the large-scale production of transition products like windmills and modern electric vehicles. Our balance sheet remains strong, with net debt to 12-month trailing Adjusted EBITDA of just 0.5x¹. As of March 31, 2023, Ramaco had $102 million of net debt and just $33 million of AROs and legacy liabilities, the latter which is 94% below the peer group average. We generated more net income and Adjusted EBITDA in 2022 than the prior 5 years combined. We anticipate 2023 results to be even better due to 1) a strong 1Q23, 2) 45% sales volume growth, 3) over 50% of our 2023 coal already sold and priced at triple digit margins based on the low end of cash cost guidance. (1) See "Reconciliation of Non-GAAP Measures" in the Appendix. 6

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