FOR IMMEDIATE RELEASE – October 2, 2019

Murray Energy Corporation (“Murray Energy” or “the Company”) announced today that it has entered into forbearance agreements with lenders holding in excess of 50% of outstanding loans under its Superpriority Credit and Guaranty Agreement and with lenders holding in excess of 50% of outstanding loans under its ABL and FILO credit facilities. Murray Energy also announced that it has elected not to make the amortization and interest payments due on September 30, 2019 as provided for in its Superpriority Credit and Guaranty Agreement.

Under the terms of the forbearance agreements, the lenders have agreed to forbear from exercising any and all remedies available to them in respect of any event of default arising from the missed amortization and interest payments due on September 30, 2019. The forbearance period extends through 11:59 p.m. (New York time) on October 14, 2019, unless extended, and will terminate upon the earlier of the end of the forbearance period or the occurrence of a specified forbearance termination event.

The forbearance agreements are expected to allow Murray Energy to continue discussions with its lenders about various strategic options to strengthen the Company’s business, improve its liquidity position, deleverage its balance sheet, and achieve a more sustainable capital structure that supports the Company’s long-term business plan and results in long-term value generation for the benefit of its employees, customers, vendors and other key stakeholders.

Further inquiries should be directed to [email protected].

***

PHONE: (740) 338-3100 FAX: (740) 338-3405 www.murrayenergycorp.com