U.S. Coal Demand and Peabody Strategic Overview

Reconciliation of Non-GAAP Measures Adjusted EBITDA (1) Powder River Basin Mining Operations Midwestern U.S. Mining Operations $74.5 $91.7 31.2 50.0 Western U.S. Mining Operations 32.0 50.0 Total U.S. Mining Operations 137.7 191.7 Australian Metallurgical Mining Operations 166.4 109.6 Australian Thermal Mining Operations 61.6 75.6 Total Australian Mining Operations 228.0 185.2 Trading and Brokerage Resource Management Selling and Administrative Expenses Other Operating Costs, Net Corporate Hedging Results 1.2 8.8 20.8 2.9 (37.0) (36.3) 15.6 16.6 (2.4) (27.6) Adjusted EBITDA (1) $363.9 $341.3 Peabody Note: Refer to definitions of Adjusted EBITDA on following slide. 35

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