Consent and Ninth Amendment to Second Amended and Restated Loan and Security Agreement

On March 13, 2017, Westmoreland Coal Company (the “Company”) executed a consent and amendment to our existing revolving credit facility (the “Revolver”) with The PrivateBank and Trust Company, as agent and as a lender, and East West Bank, as a lender (“Ninth Amendment”). The Ninth Amendment amended: (a) the allocation schedule of cash interest payments under the terms “Canadian Fixed Charges” and “US Fixed Charges,” which definitions are used in the calculation under the Revolver of the Company’s Canadian consolidated fixed charge coverage ratio, US consolidated fixed charge coverage ratio, and combined consolidated Canadian and US fixed charge coverage ratio, (b) the periods to be covered by the Company’s annual projections and (c) the fixed charge coverage ratio requirements to provide for exceptions and modifications to the calculation of that ratio upon the occurrence of certain events. The amendment also authorized us to grant a first priority security interest in certain Canadian assets to a customer to secure our performance under our contract mining arrangement with them.

The above description of the Ninth Amendment is qualified in its entirety by reference to the terms of the Ninth Amendment, which will be attached as an exhibit to our Annual Report on Form 10-K.

About WESTMORELAND COAL COMPANY (NASDAQ:WLB)

Westmoreland Coal Company is an energy company. The Company operates through six segments: Coal – U.S., Coal – Canada, Coal – Westmoreland Resource Partners, LP (WMLP), Power, Heritage and Corporate. Coal – U.S. segment includes the operations of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico. Coal – Canada segment includes the operations of coal mines located in Alberta and Saskatchewan. Coal – WMLP segment includes the operations of Westmoreland Resource Partners, LP, a coal master limited partnership. Power segment includes its Roanoke Valley Power Facility (ROVA) operations located in North Carolina. Heritage segment includes the benefits the Company provides to former mining operation employees, as well as other administrative costs associated with providing those benefits and cost containment efforts. Corporate segment consists of corporate administrative expenses.

WESTMORELAND COAL COMPANY (NASDAQ:WLB) Recent Trading Information

WESTMORELAND COAL COMPANY (NASDAQ:WLB) closed its last trading session up +1.21 at 13.40 with 508,350 shares trading hands.