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Factors that might cause such differences include, but are not limited to, a variety of economic, competitive and regulatory factors, many of which are beyond Peabody's control, including the ongoing impact of the COVID-19 pandemic and factors that are described in Peabody's Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2021, and other factors that Peabody may describe from time to time in other filings with the SEC. You may get such filings for free at Peabody's website at www.peabodyenergy.com. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.

They may include estimates of sales and other operating performance targets, cost savings, capital expenditures, other expense items, actions relating to strategic initiatives, demand for the company's products, liquidity, capital structure, market share, industry volume, other financial items, descriptions of management's plans or objectives for future operations and descriptions of assumptions underlying any of the above. All forward-looking statements speak only as of the date they are made and reflect Peabody's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance or events. Furthermore, Peabody disclaims any obligation to publicly update or revise any forward-looking statement, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "projects," "forecasts," "targets," "would," "will," "should," "goal," "could" or "may" or other similar expressions. Forward-looking statements provide management's current expectations or predictions of future conditions, events or results. All statements that address operating performance, events, or developments that Peabody expects will occur in the future are forward-looking statements.

Second quarter export volumes are expected to be 2.2 million tons. Seaborne thermal volumes are expected to be higher in the second half of the year as a result of re-establishing mine sequencing from the severe rains and the completion of the planned longwall move at Wambo Underground.
For the second quarter, approximately 1.2 million tons of export sales are priced at $95 per ton.

The average realized price included 264 thousand metric tons from Wambo sold at $84.00 per metric ton under the hedge program implemented in the first half of 2021 to support the profitability and extend the life of the mine. Tons sold were reduced by unexpected mine production impacts from continued severe rains and COVID related staffing shortages as well as the commencement of a scheduled longwall move at Wambo Underground.

PEABODY REPORTS RESULTS FOR QUARTER ENDED MARCH 31, 2022
ST. LOUIS, April 28, 2022 /PRNewswire/ -- Peabody (NYSE: BTU) today reported a net loss attributable to common stockholders of $119.5 million, or $0.88 per diluted share, for the first quarter of 2022, compared to a net loss attributable to common stockholders of $80.1 million, or $0.81 per diluted share in the prior year quarter. Peabody's first quarter 2022 results included a $301.0 million charge for unrealized mark-to-market losses related to its coal hedging activities and a $23.5 million net loss on early debt extinguishment.

At March 4, 2022, the company held coal derivative contracts in aggregate of 2.3 million metric tons. The majority of these contracts were entered into in the first half of 2021 and relate to 1.9 million metric tons of production at the Wambo underground mine in the company's seaborne thermal segment, which are expected to be mined and settled at a rate of 1.2 million metric tons in 2022 and 0.7 million metric tons in 2023. These hedge contracts were put in place to support the profitability of the mine, securing anticipated average prices of $84 per metric ton through mid-2023.

Peabody Announces Financing Arrangement