1 Ee Demands on Our Coal Industry Making the Case for 55 Foot Channels Bruce A. Hartshorn Hampton Roads Navigational Summit April 4, 2012

2 Forward-Looking Statements 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 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. Third Party Information This presentation, including certain forward-looking statements herein, include information obtained from third party sources that we believe to be reliable. However, we have not independently verified this third party information and cannot assure you of its accuracy or completeness. While we are not aware of any misstatements regarding any third party data contained in this presentation, such data involve risks and uncertainties and are subject to change based on various factors, including those discussed detail in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and in our other filings with the SEC. We assume no obligation to revise or update this third party information to reflect future events or circumstances. Legal Disclaimers

3 DTA - owned by Alpha Natural Resources, Peabody Energy and Arch Coal Pier IX - owned by Kinder Morgan Terminals CSX provides rail service to both Dominion Terminal Associates and Pier IX Terminal, Newport News, VA Lambert’s Point Terminal, Norfolk, VA Norfolk Southern owns and provides rail service Hampton Roads Coal Terminals Coal to Hampton Roads primarily originates in Central Appalachia - Virginia, West Virginia, and Kentucky

4 Historic Coal Exports in Hampton Roads Million Short Tons 1957: 52 million 1970: 48 million 1991: 59 million 2011: 42.2 million 1980: 50 million

5 Hampton Roads Export Volume Trends Hampton roads also ships coal to U.S. coastwise locations – annual volumes have ranged from 4.7 mn to 6.2 mn net tons since CAPACITIES PIX NS DTA Total Source: T. Parker Host, Internal

6 Hampton Roads Exports by Coal Type Metallurgical volumes more than doubled from 2006, on strength in international steel markets and propelled by strong growth in Asia Steam volumes generally trending up on increasing world coal demand Source: T. Parker Host, Internal

7 Hampton Roads Top Ten Export Countries vs SHIPMENTS (mn net tons) ITALY 3.4 BRAZIL 2.5 BELGIUM 1.8 UNITED KINGDOM 1.7 FRANCE 1.1 INDIA.8 SPAIN.7 TURKEY.7 EGYPT.6 SWEDEN.4 Source: T. Parker Host, Internal 2011 SHIPMENTS (mm net tons) ITALY 4.9 BRAZIL 4.8 NETHERLANDS 4.6 INDIA 2.9 FRANCE 2.8 UKRAINE 2.5 KOREA 2.3 JAPAN 2.2 U.K. 1.8 TURKEY 1.7

8 Sources: JT Boyd, Wood Mackenzie Historical CAPP Cash Costs Sources: JT Boyd, Wood Mackenzie Not only have average costs increased significantly but the range of costs has widened substantially

9 Source: SSY Capesize Fleet ( ,000 dwt) by Year of Build April 2012

10 M/V CAPE DOVER Capesize Vessel Year Built: 2006 LOA: 290 m Beam: 47m 185,805 MT DWT

11 1 foot depth increase Equals 4,200 NT additional cargo intake ADDITIONAL CARGO INTAKE

12 CARGO INTAKE: M/V CAPE DOVER 55 ft: 172,017 NT (+13.91%) 54 ft: 167,817 NT (+11.12%) 53 ft: 163,617 NT (+8.34%) 52 ft: 159,417 NT (+5.56%) 51 ft: 155,217 NT (+2.78%) 50 ft: 151,017 NT

13 NORFOLK/ROTTERDAM 150,000 DWT VESSEL180,000 DWT VESSEL LIFTS 124,311 MT BSS 50 FTLIFTS 142,000 MT BSS 50 FT LIFTS 140,211 MT BSS 55 FTLIFTS 159,000 MT BSS 55 FT TCE50 FT55 FTDIFFERENTIALTCE50 FT55 FTDIFFERENTIAL 5,000 $ 9.28 $ 8.31 $ ,000 $ 9.35 $ 8.35 $ ,000 $ $ 9.53 $ ,000 $ $ 9.45 $ ,000 $ $ $ ,000 $ $ $ ,000 $ $ $ ,000 $ $ $ 1.29 NORFOLK/POHANG (VIA COGH) 150,000 DWT VESSEL180,000 DWT VESSEL LIFTS 123,311 MT BSS 50 FTLIFTS 141,000 MT BSS 50 FT LIFTS 139,211 MT BSS 55 FTLIFTS 159,000 MT BSS 55 FT TCE50 FT55 FTDIFFERENTIALTCE50 FT55 FTDIFFERENTIAL 25,000 $ $ $ ,000 $ $ $ ,000 $ $ $ ,000 $ $ $ ,000 $ $ $ ,000 $ $ $ 3.86 Ocean Freight Relative to 55-Foot Channel

14 Economic Impact of the Coal Industry In Virginia Source: Chmusa Economics & Analytics **. *8222  Study Period: 2010  Virginia Coal Production: 22,400,000 Net Tons  Virginia Coal Industry Spending: $3.7 Billion  Spending Per Ton Mined: $165.18/Ton

15 Cost of Dredging to 55 feet: $150,000,000 Potential Annual Economic Benefit / Destruction: $1,650,000,000* 55-FOOT DREDGE PROJECT *Basis 10.0 million tons

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