Peabody Energy — Feb 6, 2025 release

The company expects to begin producing continuous miner coal from Centurion North early in the third quarter, and targets a combined 500 thousand tons of production for the full year. Peabody is on track to begin longwall production in March 2026, producing 3.5 million tons of premium hard coking coal next year. With a plann ed annual production averaging 4.7 million tons and approximately 140 million tons of reserves, the operation has a mine life of more than 25 years. Peabody’s acquisition of multiple coal mines from Anglo American is progressing, with completion now targeted for next quarter subject to closing conditions. The company has several regulatory approvals in hand from key governmental agencies, the pre-emption rights timetable window is advancing, Anglo’s operational improvements are underway, the permanent financing process has begun, and minority stake ownership discussions are ongoing. During the first full year of ownership in 2026, the premium hard coking coal mines are expected to produce 11.3 million tons of coal at fully loaded costs of $130-$140 per ton. 3 Capital Allocation Peabody generated $612.8 million in operating cash flows from continuing operations in 2024. The company returned $220.7 million to shareholders, invested $226.8 million in the development of Centurion and acquired the Centurion North coal reserves for $143.8 million. “Peabody’s capital allocation strategy continues to reflect a balanced approach of shareholder returns and reinvestment in the business,” said Executive Vice President and Chief Financial O