Restructuring Information

Cloud Peak Energy Inc. (“Cloud Peak Energy”) has filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.

On October 24, 2019, pursuant to an Asset Purchase Agreement dated August 19, 2019, Navajo Transitional Energy Company, LLC (“NTEC”) acquired substantially all of Cloud Peak Energy’s operating assets. In connection with the closing of the sale, Cloud Peak Energy terminated substantially all of its employees, and NTEC made offers of employment to substantially all of the terminated employees. Following the sale, Cloud Peak Energy retained certain non-mining assets.

On October 4, 2019, Cloud Peak Energy filed with the Bankruptcy Court the Joint Chapter 11 Plan of Cloud Peak Energy Inc. and Certain of its Debtor Affiliates, which was amended on October 14 and revised on October 22 (as amended and revised, the “Plan”). Cloud Peak Energy anticipates seeking confirmation of the Plan, as may be further amended and supplemented, at a hearing to be held with the Bankruptcy Court on December 5, 2019.

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