Michael J. Quillen Chairman, Alpha Natural Resources

1. Purpose and promise: Coal’s irreplaceable role in the energy mix Michael J. Quillen Chairman, Alpha Natural Resources Eastern Coal Council May 24, 2010 1

2. Statements in this presentation which are not statements of historical fact are “forward-looking statements” within the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995. Such statements are not guarantees of future performance. Many factors could cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward looking-statements. These factors are discussed in detail in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and in our other filings with the SEC. We make forward-looking statements based on currently available information, and we assume no obligation to update the statements made today or contained in our Annual Report or other filings due to changes in underlying factors, new information, future developments, or otherwise, except as required by law. Forward looking statements

3. Northern Appalachia Powder River Basin Illinois Basin Central Appalachia About Alpha Natural Resources • In the 7 years since it was formed, Alpha has grown to become America’s #3 coal supplier • 2.3 billion tons of reserves in four major basins • combined 2008 revenues: >$4.2 billion • more than 60 mines • market capitalization ~$4.7 billion • the leading U.S. supplier of metallurgical coal • to the world’s steel industry Alpha Coal Sales (millions of tons) 8.1 10.0 11.0 10.0 11.9 Metallurgical coal Thermal coal * Represents midpoint levels of published company guidance on May 5, 2010

4. Purpose and promise: Coal’s irreplaceable role in the energy mix The U.S. Perspective 4

5. Net Generation Projected Demand A history of relentless demand growth Just 15% more oil is used in America than at the time of the 1973 energy crisis…but 115% more electricity U.S. Electricity Net Generation and Projected Demand (kWh in billions) Recessionary Periods SOURCE: U.S. Energy Information Administration

6. Share may shrink…but coal remains relevant U.S. Electricity Generation by Fuel Type (kWh in billions) Petroleum Nuclear Natural Gas Coal Renewables Coal is the predominant fuel for future electricity generation - even in a low-growth scenario Reference High growth Low growth SOURCE: U.S. Energy Information Administration, 2009 Annual Energy Outlook

7. Coal’s relevance in a carbon-constrained world Change in Coal Production, 450ppm CO2 Scenario by 2030 (in millions of tons of coal equivalent) Reference Scenario U.S. remains #2 coal producer after China - even in a world with capped CO2 OECD + Non-OECD 450ppm Scenario SOURCE: International Energy Agency

8. CO2: a telling historic perspective William Howard Taft was president the last time total U.S. carbon dioxide emissions were as low as specified by the America Power Act (Kerry-Lieberman). Per capita, a projected 420 million Americans living in 2050 would be held to same overall emissions as 40 million Americans emitted in 1875. SOURCE: Steven Hayward, American Enterprise Institute

9. The economics of coal : an example “Kentucky’s industrial development has occurred because we have relatively low electricity rates based on coal-fired generation.” - Gov. Steven L. Beshear Kentucky produces 30% of nation’s stainless steel 5.8¢/kWh 94% coal Kentucky is nation’s 3rd largest auto manufacturer Kentucky produces 40% of nation’s aluminum SOURCE: Commonwealth of Kentucky, Office of the Governor

10. The economics of wind : an example Cape Wind – the nation’s first offshore wind farm – was awarded 15-year purchasing contract in April from a utility, by which it will pay 20.7¢ / kWh (including a mandated state subsidy of 6.1¢ / kWh) for half the wind farm’s power. Cost will escalate 3.5% each year over the life of the contract. 20.7¢/kWh 100% wind 5.8¢/kWh 94% coal

11. The economics of renewables U.S. Federal Subsidies by Resource – 2007 (by MWh produced) SOURCE: U.S. Energy Information Administration

12. Coal economics : another perspective “On an average day, the energy output of (Alliance Coal’s) Cardinal mine is nearly equal, in raw terms, to the daily output of all the solar panels and wind turbines in the United States.” - Robert Bryce, “Power Hungry: The Myths of ‘Green’ Energy and the Real Fuels of the Future”

13. NIMBY SOURCE: U.S. Chamber of Commerce

14. Does coal have a future in the U.S.? Utilities agree on the future of coal when economics are fully considered Does coal have a future? SOURCE: Black & Veatch, 4th Annual Strategic Directions in the Electric Utility Industry Survey, 02/18/10

15. Purpose and promise: Coal’s irreplaceable role in the energy mix The Global Perspective 15

16. Many nations still afflicted by ‘energy poverty’ 1.5 billion people — 22% of the world’s population — have no access to electricity Middle East 21 million North Africa 1.7 million China & East Asia 195 million South Asia 614 million Latin America 34 million Sub-Saharan Africa 587 million SOURCE: International Energy Administration

17. Much of the world has ground to make up World’s largest populations lag far behind U.S. in per-capita power consumption Per-capita power consumption – world’s most populous nations (in watts) = 100 watts 167 watts per capita India Pakistan 170 watts per capita Indonesia 233 watts per capita Brazil 516 watts per capita China 673 watts per capita U.S. 3,366 watts per capita SOURCE: “Power Hungry: The Myths of ‘Green Energy’ and the Real Fuels of the Future”, Robert Bryce

18. Underdeveloped countries adding capacity New Generation Capacity Under Construction – 2008 (in gigawatts) 8 out of 10 new gigawatts of power plant construction underway in 2008 was coal fired China 12 112 51 India Other U.S. 5 19 17 Europe Other SOURCE: Platts World Electric Power Plants Database, December 2008

19. 8 7,513 4,723 2,717 1,081 259 1980 2000 2007 2015 2030 1,966 892 544 369 90 1980 2000 2007 2015 2030 China & India: long-term reliance on coal China Electricity Demand – Historic & Projected (in TWh) India Electricity Demand – Historic & Projected (in TWh) China 2010E 80% coal-fired China 2030E 77% coal-fired India 2010E 66% coal-fired India 2030E 69% coal-fired CAGR 4.5% CAGR5.7% SOURCE: International Energy Agency

20. A few parting thoughts 20

21. Achieving record energy efficiency 2009 marked an all-time low for amount of energy required to produce a real dollar of GDP U.S. Energy Consumption per Real Dollar of GDP Total U.S. Energy Consumption SOURCE: American Enterprise Institute

22. Economic progress, emissions progress U.S. Energy Consumption, GHG Emissions & CO2 Emissions, per Real Dollar of GDP SOURCE: American Enterprise Institute

23. 5 more misconceptions about coal We mine coal the hard way - with shovels and pick axes We no longer need coal – we have green energy now Mining devastates communities, water and land Mining sustains poverty in Appalachia Miners have no choice but to work in the mines

24. www.alphanr.com