U.S. Coal Demand and Peabody Strategic Overview

Diversity Offers Significant Competitive Advantage Percentage of Total Revenue from Customer Taiwan Japan Geographic Region in 2017 India Australia China South Korea Western Other Midwestern PRB • Large number of revenue streams ● Multi-regional exposure limits operating, logistics and demand risks Increased risk-adjusted returns; non-correlative demand drivers • Movements in currency and economic fundamentals • Regulatory, political diversification Peabody Note: The company attributes revenue to individual regions based on the location of the physical delivery of the coal. Revenue percentage for FY 2017. 6

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