What changed in this filing

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Item 2. Properties

2025-02-20 compared with 2024-02-23 · 42 added, 21 removed, 449 unchanged (12% of the section changed)

21 unchanged sentences

The level of geological certainty associated with a measured mineral resource is sufficient to allow a qualified person to apply modifying factors in sufficient detail to support detailed mine planning and final evaluation of the economic viability of the deposit.

Peabody Energy Corporation 2024 Form 10-K

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• Indicated resource.

6 unchanged sentences

The level of geological uncertainty associated with an inferred mineral resource is too high to apply relevant technical and economic factors likely to influence the prospects of economic extraction in a manner useful for evaluation of economic viability.

Peabody Energy Corporation 2023 Form 10-K

The geological confidence surrounding resource classification is first determined by a drill hole spacing analysis performed by a QP using geostatistical techniques.

25 unchanged sentences

The additional surface rights to meet long-term production requirements are expected to be acquired as needed.

Peabody Energy Corporation 2024 Form 10-K

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The Company is party to numerous U.S.

17 unchanged sentences

leases containing undeveloped coal properties may expire or these leases may be renewed periodically.

Peabody Energy Corporation 2023 Form 10-K

Mining and exploration in Australia are generally carried out under leases or licenses granted by state governments.

17 unchanged sentences

The build out of renewable generation and subsidized power can also be a key driver of power market pricing and hence coal prices.

Peabody Energy Corporation 2024 Form 10-K

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Internationally, thermal coal-fueled generation also competes with alternative forms of electricity generation.

9 unchanged sentences

The competitiveness of seaborne metallurgical coal supply from leading metallurgical coal exporting countries of Australia, the U.S., Russia, Canada, Mongolia and Mozambique, among others, is also an important price consideration.

Peabody Energy Corporation 2023 Form 10-K

In addition to the factors noted above, the prices which may be obtained at each mine or future mine can be impacted by factors such as (i) the mine’s location, which impacts the total delivered energy costs to its customers, (ii) quality characteristics, particularly if they are unique relative to competing mines, (iii) assumed transportation costs and (iv) other mine costs that are contractually passed on to customers in certain commercial relationships.

Peabody Energy Corporation 2024 Form 10-K

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The cost estimates used to establish LOM plans are generally made according to internal processes that project future costs based on historical costs and expected trends.

46 unchanged sentences

Peabody Energy Corporation 2024 Form 10-K

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SUMMARY COAL RESERVES AT END OF THE FISCAL YEAR ENDED DECEMBER 31, 2024 (1)

21 unchanged sentences

Centurion AUS QLD D U C 84 8.0 0.5 21.7 107 7.8 0.5 20.6 191 7.9 0.5 21.1 100 %

Moorvale South AUS QLD P S C/P/T 3 11.1 0.4 18.5 2 9.8 0.4 17.5 5 10.6 0.4 18.1 73.3 %

Middlemount (9)

13 unchanged sentences

Bear Run USA IN P S T 51 10.3 3.1 11,070 18 9.5 2.5 11,050 69 10.1 2.9 11,065 100 %

El Segundo/Lee Ranch USA NM P S T 10 16.0 0.9 9,260 1 12.3 0.7 9,526 11 15.7 0.8 9,280 100 %

Lee Ranch USA NM P S T 7 17.5 0.9 9,271 1 16.0 0.8 9,477 8 17.3 0.9 9,297 100 %

Gateway North USA IL P U T 19 8.8 2.9 10,919 3 8.9 2.9 10,916 22 8.9 2.9 10,917 100 %

10 unchanged sentences

Peabody Energy Corporation 2024 Form 10-K

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SUMMARY COAL RESOURCES AT END OF THE FISCAL YEAR ENDED DECEMBER 31, 2024 (1)

10 unchanged sentences

Wambo Opencut (9)

AUS NSW P S T/C 217 21.2 0.4 5,757 154 21.5 0.4 5,764 371 21.3 0.4 5,760 265 22.0 0.4 5,437 50 %

AUS NSW P S/U T/C 223 20.9 0.4 5,825 181 21.5 0.4 5,813 404 21.2 0.4 5,820 273 20.3 0.4 5,865 50 %

South Wambo AUS NSW E U T/C 219 21.5 0.3 6,068 83 27.2 0.3 5,571 302 23.1 0.3 5,931 47 36.3 0.3 4,745 100 %

9 unchanged sentences

Moorvale AUS QLD P S C/P/T 22 18.8 0.3 17.3 17 17.6 0.3 18.6 39 18.3 0.3 17.9 6 16.4 0.3 17.1 73.3 %

Moorvale South AUS QLD P S C/P/T 3 18.3 0.4 18.4 7 18.2 0.4 18.3 10 18.2 0.4 18.3 6 16.8 0.4 17.7 73.3 %

Centurion (GLB2) AUS QLD E U C — — — — 2 14.8 0.5 20.7 2 14.8 0.5 20.7 8 13.6 0.5 20.7 100 %

Centurion AUS QLD E U C 96 20.7 0.5 21.9 485 17.9 0.5 19.6 581 18.4 0.5 20.0 286 21.1 0.5 18.9 100 %

Coppabella North AUS QLD E U P 255 15.8 0.3 14.6 102 16.8 0.3 14.6 357 16.1 0.3 14.6 12 16.5 0.3 14.3 75.5 %

Yeerun AUS QLD E S P 16 16.0 0.4 14.3 57 16.2 0.5 15.0 73 16.2 0.4 14.8 46 17.8 0.5 14.7 83.0 %

Moorvale North AUS QLD E U P 21 26.0 0.4 12.9 25 24.5 0.5 13.2 46 25.2 0.4 13.1 25 23.2 0.5 13.4 73.3 %

Moorvale North AUS QLD E S P 21 26.0 0.4 12.9 25 24.5 0.5 13.2 46 25.2 0.4 13.1 25 23.2 0.5 13.4 73.3 %

Gundyer AUS QLD E U P — — — — 54 16.4 0.2 19.7 54 16.4 0.2 19.7 70 18.3 0.2 18.3 90.0 %

15 unchanged sentences

Gateway North USA IL P U T 29 12.8 4.0 10,603 15 12.9 4.0 10,606 44 12.9 4.0 10,604 — — — — 100 %

El Segundo/Lee Ranch USA NM P S T 1 13.5 1.0 9,932 5 12.1 0.9 10,036 6 12.4 1.0 10,014 2 14.3 1.2 9,655 100 %

Lee Ranch USA NM P S T 1 12.4 1.1 10,038 6 11.8 1.0 10,044 7 11.9 1.0 10,043 3 13.4 1.2 9,787 100 %

Wild Boar USA IN P S T — — — — 3 11.7 5.5 11,390 3 11.7 5.5 11,390 1 12.1 5.3 11,290 100 %

2 unchanged sentences

Peabody Energy Corporation 2024 Form 10-K

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The sales price assumptions supporting economic recoverability vary depending upon factors such as coal quality and existing customer volume commitments.

27 unchanged sentences

Portions of the following information are based on assumptions, qualifications and procedures that are not fully described herein.

The changes for NARM from the previous years are not material and no updates for the TRS are included in this filing.

Reference should be made to the full text of the TRS, incorporated herein by reference, made a part of Peabody’s Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the SEC on February 18, 2022.

Reference should be made to the full text of the TRSs for Wilpinjong and Centurion Mines, incorporated herein by reference and made a part of this Annual Report on Form 10-K.

The relevant TRSs for Wilpinjong and Centurion Mines are included as Exhibits 96.2 and 96.3, respectively, to this Annual Report on Form 10-K, and specific sections of such TRSs are referenced below using the corresponding exhibit number.

The changes for NARM and Wilpinjong from the previous years are not material, thus no updates for the TRSs are included in this filing.

Reference should be made to the full text of the TRS, incorporated herein by reference, made a part of Peabody’s Annual Report on Form 10-K for the year ended December 31, 2021 and December 31, 2023 respectively, which was filed with the SEC on February 18, 2022 and February 23, 2024.

Reference should be made to the full text of the TRS for the Centurion Mine, incorporated herein by reference and made a part of Peabody’s filing on Form 8-K filed with the SEC on October 15, 2024.

Peabody Energy Corporation 2024 Form 10-K

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North Antelope Rochelle Mine

19 unchanged sentences

Peabody Energy Corporation 2024 Form 10-K

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The table below presents NARM coal reserve estimates at December 31, 2024, along with comparative quantities at December 31, 2023.

22 unchanged sentences

Peabody Energy Corporation 2024 Form 10-K

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Wilpinjong Mine

3 unchanged sentences

A third-party contractor managed mining operations until 2013, when the Company converted the mine to owner-operated.

The Wilpinjong Mine extracts coal from the Moolarben and Ulan coal seams which have a combined thickness from 6 to 10 meters and a typical depth less than 60 meters in the Illawarra Coal Measures on the northwest margin of the Sydney Basin.

The Wilpinjong Mine extracts coal from the Moolarben and Ulan coal seams which have a combined thickness from 6 to 10 meters and a typical waste depth of less than 80 meters in the Illawarra Coal Measures on the northwest margin of the Sydney Basin.

The Company has secured three exploration licenses of 2,958 hectares and four mining leases of 3,790 hectares through the New South Wales Minister of Planning.

The typical royalty rate is 8.2% currently, increasing to 10.8% in July of 2024, of the value of coal recovered.

The typical royalty rate is 10.8% of the value of coal recovered.

The mining leases require renewal upon expiration in 2027 for 2,863 hectares and in 2039-2044 for 927 hectares.

7 unchanged sentences

The mine’s proximity to other large coal producers in the region provides access to a significant pool of experienced mining personnel.

Peabody Energy Corporation 2023 Form 10-K

The property, plant, equipment and mine development assets of Wilpinjong Mine had a net book value of approximately $266 million at December 31, 2024.

1 unchanged sentence

Routine maintenance, overhauls and necessary capital replacements are generally included in the LOM plan to support future production.

Peabody Energy Corporation 2024 Form 10-K

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The tables below present Wilpinjong Mine’s estimated coal reserves and resources at December 31, 2024, along with comparative quantities at December 31, 2023.

21 unchanged sentences

The year-over-year decrease in the quantity of coal reserves was driven by production depletion.

The year-over-year increase in the quantity of coal resources was driven by inclusion of areas with the lease EL9399.

Economic recoverability is based upon product-specific estimated average sales prices per tonne of $61.36 for the five-year period ending December 31, 2029 and assumed escalation of 2.0% to 3.0% per annum during the subsequent period through the end of the LOM plan.

10 unchanged sentences

Peabody Energy Corporation 2024 Form 10-K

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Centurion Mine

The Centurion Mine, which is currently undergoing redevelopment, is an underground longwall metallurgical coal mine located 160 kilometers WSW of Mackay, Queensland, Australia.

The Centurion Mine is an underground longwall metallurgical coal mine located 160 kilometers WSW of Mackay, Queensland, Australia.

The Centurion Mine lies on the Collinsville Shelf on the western margin of the Bowen Basin in Central Queensland.

2 unchanged sentences

The mine has been idled since that time while plans to re-initiate production with regulatory approval were developed.

During the third quarter of 2022, Peabody initiated the development of the mine.

In October 2023, Peabody entered into an agreement with Stanmore to purchase the southern area of Wards Well (ML 1790 and ML 70495) with the intent to expand underground operations to the North of the North Goonyella Mine footprint and eventually extend into Dabin (MDL 3010).

In December 2023, the mine was renamed the Centurion Mine.

Development operations recommenced at the mine in June 2024, with Longwall operations scheduled to commence in early 2026.

Centurion Mine will extract coal from the Goonyella Middle seam with future plans to extend into the Goonyella Lower B2 (GLB2) seam with mining depths ranging from 210 meters to 540 meters.

9 unchanged sentences

Peabody Energy Corporation 2024 Form 10-K

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Centurion North is comprised of ML1790 and ML70495 (part of the Ward’s Well project which has been subdivided between Peabody and Stanmore) which encompasses surface areas of 2,723 hectares and 748 hectares, respectively.

The Centurion North mine also comprises a small portion of MDL3010 (Dabin) which is owned by the West Burton Joint Venture (85% Peabody) and has a land area of 10,827 hectares.

Coal will be produced primarily using longwall systems.

6 unchanged sentences

The key supporting infrastructure for Centurion Mine includes road access via highways and roads, access to both the Goonyella and Newland Rail Systems, coal export terminals at the Port of Hay Point and the Port of Abbot Point, connection to a High Voltage electricity grid that provides electricity to the existing facilities, and water supplied from the 15GL capacity Burton Gorge Dam.

Centurion also has a nearby accommodation village with housing and service amenities for more than 400 workers located 19km east of the mine.

Centurion also has a nearby accommodation village with housing and service amenities for a capacity of 440 workers located 19km east of the mine.

The mine’s workforce is drawn primarily from the townships of Moranbah, Nebo and Mackay.

4 unchanged sentences

Peabody Energy Corporation 2024 Form 10-K

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The tables below present Centurion Mine’s estimated coal reserves and resources at December 31, 2024, along with comparative quantities at December 31, 2023.

11 unchanged sentences

Probable 107 7.8 0.5 20.6 82 % 23

Year-over-year decrease (1) %

Year-over-year increase 177 %

December 31, 2024 December 31, 2023

5 unchanged sentences

Inferred 286 21.1 0.5 18.9 8

Economic recoverability is based upon an estimated average sales price per tonne of $180 for most of the LOM plan.

The year-over-year increase in the quantity of coal reserves and resources was driven by the Wards Well acquisition in April 2024.

Economic recoverability is based upon an estimated average sales price per tonne of $210 for the LOM plan.

The quality of coal reserves and resources are estimated on an air-dry basis.

13 unchanged sentences

Peabody Energy Corporation 2024 Form 10-K

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The coal reserve and resource estimates have inherent risks due to data accuracy, uncertainty from geological interpretation, mine plan assumptions, uncontrolled rights for mineral and surface properties, environmental challenges, uncertainty for future market supply and demand, and changes in laws and regulations.

4 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 2. Properties