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Elliott off the Peabody Board

Peabody (NYSE: BTU) today filed its Proxy Statement for its 2024 Annual Meeting of Stockholders to be held on May 9, 2024, which disclosed that current members of Peabody’s Board of Directors Samantha B. Algaze and David J. Miller have determined that they will not stand for re-election. Algaze and Miller joined the board in 2020 as part of an agreement with Elliott Investment Management L.P. (“Elliott”) and were subsequently re-elected by Peabody’s stockholders in 2021, 2022 and 2023.  Peabody’s Board will be reduced by two directors effective at the annual meeting.

Elliott, previously Peabody’s largest stockholder, has reduced their ownership stake significantly, to below five percent.

“I want to thank Dave and Sam for their dedicated work on the Board of Directors over the past several years, helping position Peabody for continued success,” Bob Malone, Chairman of the Board, said.

Peabody is a leading coal producer, providing essential products for the production of affordable, reliable energy and steel. Our commitment to sustainability underpins everything we do and shapes our strategy for the future.

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