Risk Factors - BTU

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$BTU Risk Factor changes from 00/02/24/23/2023 to 00/02/23/24/2024

Item 1A. “Risk Factors.” Such factors are difficult to accurately predict and may be beyond the Company’s control. When considering these forward-looking statements, you should keep in mind the cautionary statements in this document and in the Company’s other Securities and Exchange Commission (SEC) filings. These forward-looking statements speak only as of the date on which such statements were made, and the Company undertakes no obligation to update these statements except as required by federal securities laws.

Peabody Energy Corporation2023 Form 10-KiTABLE OF CONTENTSPeabody Energy Corporation2023 Form 10-K1Table of ContentsPART IItem 1. Peabody Energy Corporation2022 Form 10-KiTABLE OF CONTENTSPeabody Energy Corporation2022 Form 10-K1Table of ContentsPART IItem 1. Business.OverviewPeabody is a leading producer of metallurgical and thermal coal. At December 31, 2023, the Company owned interests in 17 active coal mining operations located in the United States (U.S.) and Australia, including a 50% equity interest in Middlemount Coal Pty Ltd. (Middlemount). In addition to its mining operations, the Company markets and brokers coal from other coal producers; trades coal and freight-related contracts; and, since 2022, is partnered in a joint venture with the intent of developing various sites, including certain reclaimed mining land held by the Company in the U. In addition to its mining operations, the Company markets and brokers coal from other coal producers, trades coal and freight-related contracts, and, during 2022, partnered in a joint venture with the intent of developing various sites, including certain reclaimed mining land held by the Company in the U. S., for utility-scale photovoltaic solar generation and battery storage.During 2023, Peabody advanced the redevelopment of its North Goonyella Mine in Australia. During the fourth quarter, the mine was renamed to Centurion Mine to reflect the next stage of redevelopment and the Company’s agreement to acquire an adjacent coal deposit. The first development coal from the Centurion Mine is anticipated in the second quarter of 2024.Segment and Geographic InformationAs of December 31, 2023, Peabody reports its results of operations primarily through the following reportable segments: Seaborne Thermal, Seaborne Metallurgical, Powder River Basin, Other U.Segment and Geographic InformationAs of December 31, 2022, Peabody reports its results of operations primarily through the following reportable segments: Seaborne Thermal Mining, Seaborne Metallurgical Mining, Powder River Basin Mining, Other U. S. Thermal and Corporate and Other. Thermal Mining and Corporate and Other. Refer to Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” for additional information regarding the Company’s segments. Note 22. “Segment and Geographic Information” to the accompanying consolidated financial statements is incorporated herein by reference and also contains segment and geographic financial information. Mining LocationsThe maps that follow display Peabody’s active and development mine locations as of December 31, 2023. Mining LocationsThe maps that follow display Peabody’s active mine locations as of December 31, 2022. Also shown are the primary ports that the Company uses for its coal exports and the Company’s corporate headquarters in St. Louis, Missouri.

Peabody Energy Corporation2023 Form 10-K2Table of ContentsU.S.

LocationsPeabody Energy Corporation2023 Form 10-K3Table of ContentsAustralian LocationsPeabody Energy Corporation2023 Form 10-K4Table of ContentsThe table below summarizes information regarding the operating characteristics of each of the Company’s mines in the U.S. and Australia. The mines are listed within their respective reporting segment in descending order, as determined by tons produced in 2023.(1)Peabody owns a 50% undivided interest in an unincorporated joint venture that owns the Wambo Open-Cut Mine. The tons shown reflect its share. The Company’s 50% joint venture interest is subject to an outside non-controlling ownership interest. (2)Majority-owned mine in which there is an outside non-controlling ownership interest.(2)Majority-owned mine in which there is an outside non-controlling ownership interest. (3)The mine restarted production in the second quarter of 2021 after being idled in the fourth quarter of 2020. The mine restarted production in the second quarter of 2021. (4)Peabody owns a 73.3% undivided interest in an unincorporated joint venture that owns the Coppabella and Moorvale mines. The tons shown reflect its share.(5)The mine experienced a fire in March 2023 and restarted production in June 2023. In November 2021 the mine restarted production after being idled in the fourth quarter of 2020. (6)Peabody owns a 50% equity interest in Middlemount, which owns the Middlemount Mine.(7)Peabody owns a 50% equity interest in Middlemount, which owns the Middlemount Mine. Because Middlemount is accounted for as an unconsolidated equity affiliate, the table above excludes tons produced from that mine, which totaled 1.2 million, 1.4 million, 2. 4 million and 2.0 million and 1. 0 million tons, respectively (on a 50% basis).Refer to the Reserves and Resources tables within .