13D Filing: Elliott Associates, L.P. and Peabody Energy Corp (BTU)

¹ Includes 9,619,100 shares of Common Stock issued upon
the automatic conversion of the 5,108,947 shares of Series A Convertible Preferred Stock, which, according to the 8-K, took place
on January 31, 2018.  The number of shares of Common Stock into which the Series A Convertible Preferred Stock converted is
based upon the conversion rate of approximately 1.88279508 shares of Common Stock per share of Series A Convertible Preferred Stock
as provided in the 8-K. Percentages used herein are based on approximately 130,700,000 shares of Common Stock outstanding following
the Preferred Stock Conversion, as disclosed in the 8-K.