U.S. Coal Demand and Peabody Strategic Overview

Maintain Financial Strength - Achieves Higher End of Long-Term Debt Target of $1.2 to $1.4 Billion Current Debt Maturity and Liquidity Sources Represent Increased Financial Strength $1,500 April 2017 Debt and Liquidity Sources Current Debt and Liquidity Sources $1,200 $900 $600 $300 *Revolver and AR securitization undrawn except for letters of credit ARS* ARS* Revolver* Term Loan 6.000% Bonds L+ 4.50% 6.000% Bonds TERM LOAN REDUCED BY $550 MILLION, RATE LOWERED, MATURITY EXTENDED $0 2018 2019 2020 2021 2022 2023 2024 Peabody Note: Current liquidity sources as of March 31, 2018. Current debt balances as of April 25, 2018. 6.375% Bonds 6.375% Bonds Term Loan L+ 2.75% 2025 22

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