13D Filing: Discovery Capital Management and Peabody Energy Corp (BTU)

The Reporting Persons have acquired their Shares of the Issuer for
investment. The Reporting Persons have no plans or proposals as of the date of this filing which, other than as expressly set forth
below, would relate to or would result in: (a) the acquisition by any person of additional securities of the Issuer, or the disposition
of securities of the Issuer; (b) any extraordinary corporate transaction involving the Issuer; (c) any change in the present Board
of Directors or management of the Issuer; (d) any material change in the present capitalization or dividend policy of the Issuer;
(e) any material change in the operating policies or corporate structure of the Issuer; (f) any change in the Issuer’s charter
or by-laws; (g) the Shares of the Issuer ceasing to be delisted from a national securities exchange or to ceasing to be authorized
to be quoted in an inter-dealer quotation system of a registered national securities association; or (h) causing the Issuer becoming
eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934.

The Reporting Persons, however, reserve the right, at a later date,
to effect one or more of such changes.

The Reporting Persons have been and may continue to be in contact
with members of the Issuer’s management, the Issuer’s Board of Directors, other significant shareholders and others regarding alternatives
that the Issuer could employ to maximize shareholder value.

The Reporting Persons further reserve the right to act in concert
with any other shareholders of the Issuer, or other persons, for a common purpose should it determine to do so, and/or to recommend
courses of action to management and the shareholders of the Issuer.