2011 Overview

(U.S. Dollars)

Walter Energy is the world's leading, publicly traded "pure-play" metallurgical coal
producer for the global steel industry with strategic access to high-growth steel
markets in Asia, South America and Europe. The Company also produces thermal coal,
anthracite, metallurgical coke and coal bed methane gas.

Operational Statistics

Revenue: Net Income: Diluted Earnings Per Share: Quarterly Dividend Per Share: Metallurgical Coal Sales: Thermal Coal Sales: Employees:

$2.6 Billion $349 Million $5.76 $.0125 8.7 MMTs* 3.8 MMTs 4,200

* Excludes 1 million metric tons (MMTs) of Q1 2011 pre-acquisition met coal sales from Western Coal

Highlights

• Appointed new Chief Executive Officer, Walter J. Scheller, III
• Completed acquisition of Western Coal on April 1
• Reduced Total Reportable Injury Rate by 15% compared with 2010 rates on a pro forma basis
• Finalized transaction with Chevron Mining for approximately 68 million tons of recoverable Blue Creek coking coal reserves in Alabama
• Paid more than $30 million in regular dividends to shareholders
• Repaid $103.5 million of term debt in Q4
• Received co-sponsored 2011 Surface Mine Reclamation Award from West Virginia Coal Association and West Virginia Department of Environmental Protection for Gauley Eagle Mine
• Contributed $1 million to Alabama tornado relief efforts