Peabody Analyst and Investor Day February 22, 2018 Statement on Forward-Looking Information 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 variationof 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 we expect or anticipate will occur in the future are forward-looking statements. They may include estimates of revenues, income, earnings per share, cost savings, capital expenditures, dividends, share repurchases, liquidity, capital structure, market share, industry volume, or other financial items, descriptions of management’s plans or objectives for future operations,or descriptions of assumptions underlying any of the above. All forward-looking statements speak only as of the date they are made and reflect the company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance or events. Furthermore, the company 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 the company's control, that are described in our Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2016, as amended on July 10, 2017 and Aug. 14, 2017, and in Exhibit 99.2 to the Company’s Current Report on Form 8-K filed with the SEC on April 11, 2017, as well as additional factors we may describe from time to time in other filings with the SEC. You may get such filings for free at our 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 Analyst and Investor Day Agenda 8:00 Registration and Breakfast 9:00 Welcome and Safety Contact 9:10 Peabody Overview – Glenn Kellow, President and Chief Executive Officer 9:55 Industry Highlights – Bryan Galli, Group Executive and Chief Marketing Officer 10:30 Break 10:45 Australian Operations – George J. Schuller Jr., President - Australia 11:25 Americas Operations – Kemal Williamson, President - Americas 12:05 Lunch Break 12:35 Competitiveness – Charles Meintjes, Executive Vice President - Corporate Services and Chief Commercial Officer 1:15 Financial Approach – Amy Schwetz, Executive Vice President and Chief Financial Officer 1:50 Group Q&A and Closing Remarks For more information regarding NYSE: BTU, visit PeabodyEnergy.com or contact [email protected] 3 BTU Analyst and Investor Day: Delivering Results, Generating Value Glenn Kellow President and Chief Executive Officer February 22, 2018 BTU Analyst and Investor Day: Overview • Peabody is the leading global pure-play coal investment, and we have significant scale, high-quality assets and people, and diversity in geography and products • We are executing an integrated approach to delivering results and generating value across the cycle • Today, we invite you to take a deeper look at Peabody “beneath the surface” My discussion will center on: 1) Our Company Profile; 2) Industry Dynamics; and 3) Our Strategies to Create Value 2 Today’s Presenters and Our Executive Leadership Team Industry Fundamentals Bryan Galli Group Executive and Chief Marketing Officer Australian Operations George J. Schuller Jr. President Australia Americas Operations Kemal Williamson President Americas Improving Competitiveness Charles Meintjes EVP Corporate Services and Chief Commercial Officer From Left: Paul Richard 1, Verona Dorch 2, Kemal Williamson, Financial Approach Amy Schwetz, Glenn Kellow, George J. Schuller Jr., Charles Meintjes Amy Schwetz EVP and Chief Financial Officer 3 Note: 1SVP and Chief Human Resources Officer; 2EVP, CLO, Government Affairs and Corporate Secretary BTU Analyst and Investor Day: Key Takeaways and Investment Thesis • Company: Leveraging significant scale; extensive diversity of product and customers; high quality of assets • Industry: Peabody capitalizing on attractive seaborne thermal and met coal conditions and highly competitive positioning in U.S. • Portfolio: Continuing to shape the portfolio for maximum value with sharp sense of strategic fit, returns, payback period and synergies • Financial: Further propelling “virtuous cycle” by generating cash, maintaining financial strength, investing wisely and returning cash to shareholders • People: Highly aligned and engaged workforce, skilled international executive team and highly experienced board of directors • Focused Engagement: Advancing our license to operate; mission and values; investment principles; and support for advanced coal technologies 4 Peabody’s Significant Scale Offers Numerous Benefits ● High reserve-to-production ratio allows 192 for optimized mine planning, solid cost structure and expansion optionality Million tons ● Benefits customers by providing flexible of coal sales production and sourcing, improved 5.2 confidence in reliability of supply, “alternative brand name” for supplier Billion tons diversification of proven and ● Enables sharing of skills, knowledge, probable reserves equipment, contracts and best practices 23 ● Scalable SG&A and shared trading, Operations in 8 administrative and technical services states and 2 ● Improves access to flagship countries financial markets Note: Coal sales and proven and probable reserves as of Dec. 31, 2017. 2017 proven and probable reserves reflect year-end estimates; Final Dec. 31, 2017 proven and probable reserve estimates to be included in our Annual Report on 5 Form 10-K. Company Offers Extensive Diversity of Geography, Customers and Products Met Coal Thermal Coal Met & Thermal Coal Serving more than 25 countries on 6 continents 6 Note: Highlighted countries represent customers served in at least one year between 2015 –2017. Diversity Offers Significant Competitive Advantage Percentage of Total Revenue from Customer ● Large number of Geographic Region in 2017 revenue streams Australia India South ● Multi-regional exposure China Korea limits operating, logistics and demand risks Taiwan Other ● Increased risk-adjusted returns; non-correlative demand drivers PRB ● Movements in currency Japan and economic fundamentals ● Regulatory, political diversification Western Midwestern Note: The company attributes revenue to individual countries based on the location of the physical delivery 7 of the coal. Revenue percentage for FY 2017.