Commitments

Asset Purchase Agreement — Turbine Equipment

On May 30, 2026, the Company entered into an Asset Purchase Agreement (the "APA") with Energy World Corporation Ltd. (the “Seller”) to acquire approximately 460 MW of Siemens gas turbines, generators, a steam turbine, and ancillary equipment for a total purchase price of $350.0 million. The Company expects to incur approximately $100.0 million of additional costs for transportation, refurbishment, insurance, and logistics in connection with the delivery of the equipment.

Subsequent to quarter end, the Company and the Seller agreed to extend the deadline for loading the equipment for transport to the U.S. and to adjust the timing of certain payments to third party vendors to be made on behalf of the Seller.

The Company paid $8.2 million to third party vendors on behalf of the Seller during the six months ended June 30, 2026 which is included in construction work in progress on the condensed consolidated balance sheets. An additional $3.0 million was paid to these vendors through July 31, 2026.

Contingencies

Our Coal Operations subsidiary was party to litigation in which the plaintiffs alleged violations of the Fair Labor Standards Act and state law due to alleged failure to compensate for time "donning" and "doffing" equipment and to account for certain bonuses in the calculation of overtime rates and pay. In January 2025, we agreed to settle with the plaintiffs such litigation for $2.8 million, which was recorded in operating expenses on our consolidated statements of operations for the year ended December 31, 2024. During the third quarter of 2025, we transferred $2.7 million into an escrow account and in late 2025 the settlement terms were approved by the court. At June 30, 2026, there were no further amounts accrued on our consolidated balance sheet related to this litigation.

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