Peabody Energy : BMO Coal Symposium

BMO

Coal Symposium

Mark Spurbeck, Chief Financial Officer November 10, 2021

Forward-Looking Statements

This presentation contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "projects," "forecasts," "targets," "would," "will," "should," "goal," "could" or "may" or other similar expressions. Forward-looking statements provide management's current expectations or predictions of future conditions, events or results. All statements that address operating performance, events, or developments that Peabody expects will occur in the future are forward-looking statements. They may include estimates of sales and other operating performance targets, cost savings, capital expenditures, other expense items, actions relating to strategic initiatives, demand for the company's products, liquidity, capital structure, market share, industry volume, other financial items, descriptions of management's plans or objectives for future operations and descriptions of assumptions underlying any of the above. All forward-looking statements speak only as of the date they are made and reflect Peabody's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance or events. Furthermore, Peabody disclaims any obligation to publicly update or revise any forward-looking statement, except as required by law. By their nature, forward- looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive and regulatory factors, many of which are beyond Peabody's control, including the ongoing impact of the COVID-19 pandemic and factors that are described in Peabody's Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2020, and other factors that Peabody may describe from time to time in other filings with the SEC. You may get such filings for free at Peabody's website at www.peabodyenergy.com. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.

2

Peabody's Three Strategies for Value Creation

1)

SEABORNE	Continuing to
reweight
	investments
	toward
	greater
	seaborne
	thermal and
	metallurgical
	coal to
	capture
	higher
	growth Asian
	demand

2)

THERMAL	Optimizing
our lowest-
	cost and
	highest-
	margin U.S.
U.S.	thermal
assets to
	maximize
	cash
	generation

3)

FINANCIAL	Executing our
financial
	approach of
	generating
	cash,
	reducing
	debt and
	investing
	wisely

3

Peabody: Leading Global Coal Producer Providing Essential Products for Baseload Electricity and Steel

Seaborne Thermal

Coal delivered primarily

to Asia

Anchored by tier one

Wilpinjong Mine

Consistently high

margins throughout

price cycle

Seaborne Met

Coal delivered to Asia

and Europe

Cost improvement

initiatives reduced costs

per ton by 12% YOY

Essential product

needed for steelmaking

U.S. Thermal

Coal delivered to U.S. customers in 20+ states

Lowest cost PRB

operations; ILB strong

sales book

Muted supply response to heightened demand

4

Segment Deep Dive

North Antelope Rochelle Mine