Document:

EX-10.3

 Exhibit 10.3 

CREDIT AGREEMENT 
 among

 PEABODY ENERGY CORPORATION, 

as Borrower, 
 GOLDMAN SACHS
BANK USA, 
 as Administrative Agent, 

and 
 The Other Lenders Party
Hereto 
 Dated as of April 3, 2017 
  

 
 GOLDMAN SACHS BANK USA, 

JPMORGAN CHASE BANK, N.A., 

and 
 CREDIT SUISSE SECURITIES
(USA) LLC, 
 as Joint Lead Arrangers and Joint Bookrunners 
  

 
 GOLDMAN SACHS BANK USA, 

as Syndication Agent, 
 and 

JPMORGAN CHASE BANK, N.A., 

CREDIT SUISSE AG, 
 and 

MACQUARIE CAPITAL (USA) INC., 

as Co-Documentation Agents 

 TABLE OF CONTENTS 

 

							
	 Section
	 	 	  	Page	 
	 ARTICLE I. DEFINITIONS AND ACCOUNTING TERMS
	  	 	1	 
	 1.01
	 	 Defined Terms
	  	 	1	 
	 1.02
	 	 Other Interpretive Provisions
	  	 	45	 
	 1.03
	 	 Accounting Terms
	  	 	46	 
	 1.04
	 	 Times of Day
	  	 	47	 
	 1.05
	 	 Negative Covenant Compliance
	  	 	47	 
		
	 ARTICLE II. THE COMMITMENTS AND BORROWINGS
	  	 	47	 
	 2.01
	 	 The Loans
	  	 	47	 
	 2.02
	 	 Borrowings, Conversions and Continuations of the Loans
	  	 	48	 
	 2.03
	 	 [Reserved]
	  	 	49	 
	 2.04
	 	 [Reserved]
	  	 	49	 
	 2.05
	 	 Prepayments
	  	 	49	 
	 2.06
	 	 [Reserved]
	  	 	54	 
	 2.07
	 	 Repayment of Loans
	  	 	54	 
	 2.08
	 	 Interest
	  	 	55	 
	 2.09
	 	 Fees
	  	 	55	 
	 2.10
	 	 Computation of Interest and Fees
	  	 	56	 
	 2.11
	 	 Evidence of Debt
	  	 	56	 
	 2.12
	 	 Payments Generally; Administrative Agent’s Clawback
	  	 	57	 
	 2.13
	 	 Pro Rata; Sharing of Payments by Lenders
	  	 	58	 
	 2.14
	 	 [Reserved]
	  	 	59	 
	 2.15
	 	 Incremental Debt
	  	 	59	 
	 2.16
	 	 Refinancing Debt
	  	 	61	 
	 2.17
	 	 [Reserved]
	  	 	63	 
	 2.18
	 	 Defaulting Lenders
	  	 	63	 
	 2.19
	 	 Dutch Auction Repurchases
	  	 	64	 
	 2.20
	 	 Open Market Repurchases
	  	 	65	 
		
	 ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY
	  	 	66	 
	 3.01
	 	 Taxes
	  	 	66	 
	 3.02
	 	 Illegality
	  	 	69	 
	 3.03
	 	 Inability to Determine Rates
	  	 	70	 
	 3.04
	 	 Increased Costs; Reserves on Eurocurrency Rate Loans
	  	 	70	 
	 3.05
	 	 Compensation for Losses
	  	 	72	 
	 3.06
	 	 Mitigation Obligations; Replacement of Lenders
	  	 	73	 
	 3.07
	 	 Survival
	  	 	73	 
		
	 ARTICLE IV. CONDITIONS PRECEDENT
	  	 	74	 
	 4.01
	 	 Closing Date
	  	 	74	 
	 4.02
	 	 Conditions to all Borrowings (Including on the Closing Date)
	  	 	79	 

							
	 ARTICLE V. REPRESENTATIONS AND WARRANTIES
	  	 	80	 
	 5.01
	 	 Existence, Qualification and Power
	  	 	80	 
	 5.02
	 	 Authorization; No Contravention
	  	 	80	 
	 5.03
	 	 Governmental Authorization
	  	 	80	 
	 5.04
	 	 Binding Effect
	  	 	81	 
	 5.05
	 	 Financial Statements; No Material Adverse Effect
	  	 	81	 
	 5.06
	 	 Litigation
	  	 	81	 
	 5.07
	 	 No Default
	  	 	82	 
	 5.08
	 	 Ownership and Identification of Property
	  	 	82	 
	 5.09
	 	 Environmental Compliance
	  	 	82	 
	 5.10
	 	 Insurance
	  	 	83	 
	 5.11
	 	 Taxes
	  	 	84	 
	 5.12
	 	 ERISA Compliance
	  	 	84	 
	 5.13
	 	 Subsidiaries
	  	 	84	 
	 5.14
	 	 Margin Regulations; Investment Company Act
	  	 	84	 
	 5.15
	 	 Disclosure
	  	 	84	 
	 5.16
	 	 Compliance with Laws
	  	 	85	 
	 5.17
	 	 Anti-Corruption; Sanctions; Terrorism Laws
	  	 	85	 
	 5.18
	 	 Intellectual Property; Licenses, Etc.
	  	 	86	 
	 5.19
	 	 Security Documents
	  	 	86	 
	 5.20
	 	 Mines
	  	 	86	 
	 5.21
	 	 Solvency
	  	 	87	 
	 5.22
	 	 Labor Relations
	  	 	87	 
		
	 ARTICLE VI. AFFIRMATIVE COVENANTS
	  	 	87	 
	 6.01
	 	 Financial Statements
	  	 	87	 
	 6.02
	 	 Certificates; Other Information
	  	 	88	 
	 6.03
	 	 Notices
	  	 	89	 
	 6.04
	 	 Payment of Tax Obligations
	  	 	90	 
	 6.05
	 	 Preservation of Existence
	  	 	90	 
	 6.06
	 	 Maintenance of Properties
	  	 	90	 
	 6.07
	 	 Maintenance of Insurance
	  	 	90	 
	 6.08
	 	 Compliance with Laws
	  	 	91	 
	 6.09
	 	 Books and Records
	  	 	91	 
	 6.10
	 	 Inspection Rights
	  	 	91	 
	 6.11
	 	 Use of Proceeds
	  	 	91	 
	 6.12
	 	 Additional Guarantors
	  	 	92	 
	 6.13
	 	 Unrestricted Subsidiaries
	  	 	92	 
	 6.14
	 	 Preparation of Environmental Reports
	  	 	92	 
	 6.15
	 	 Certain Long Term Liabilities and Environmental Reserves
	  	 	92	 
	 6.16
	 	 Covenant to Give Security
	  	 	93	 
	 6.17
	 	 Maintenance of Ratings
	  	 	96	 
	 6.18
	 	 Post Closing Covenants
	  	 	96	 
	 6.19
	 	 ERISA
	  	 	96	 

  
 ii 

							
	 ARTICLE VII. NEGATIVE COVENANTS
	  	 	96	 
	 7.01
	 	 Liens
	  	 	96	 
	 7.02
	 	 Investments
	  	 	99	 
	 7.03
	 	 Indebtedness
	  	 	101	 
	 7.04
	 	 Fundamental Changes
	  	 	105	 
	 7.05
	 	 Dispositions
	  	 	106	 
	 7.06
	 	 Restricted Payments
	  	 	108	 
	 7.07
	 	 Change in Nature of Business
	  	 	109	 
	 7.08
	 	 Transactions with Affiliates
	  	 	110	 
	 7.09
	 	 [Reserved]
	  	 	111	 
	 7.10
	 	 Use of Proceeds
	  	 	111	 
	 7.11
	 	 [Reserved]
	  	 	111	 
	 7.12
	 	 Burdensome Agreements
	  	 	111	 
	 7.13
	 	 Restrictions on Specified Subsidiaries
	  	 	112	 
	 7.14
	 	 Maximum Capital Expenditures
	  	 	113	 
	 7.15
	 	 Fiscal Year
	  	 	113	 
	 7.16
	 	 Sale and Lease-Backs
	  	 	113	 
	 7.17
	 	 Amendments or Waivers of Organizational Documents
	  	 	114	 
	 7.18
	 	 Restructuring Transactions
	  	 	114	 
		
	 ARTICLE VIII. EVENTS OF DEFAULT AND REMEDIES
	  	 	114	 
	 8.01
	 	 Events of Default
	  	 	114	 
	 8.02
	 	 Remedies Upon Event of Default
	  	 	116	 
	 8.03
	 	 Exclusion of Immaterial Subsidiaries
	  	 	117	 
	 8.04
	 	 Application of Funds
	  	 	117	 
		
	 ARTICLE IX. ADMINISTRATIVE AGENT
	  	 	117	 
	 9.01
	 	 Appointment and Authority
	  	 	117	 
	 9.02
	 	 Rights as a Lender
	  	 	118	 
	 9.03
	 	 Exculpatory Provisions
	  	 	118	 
	 9.04
	 	 Reliance by Administrative Agent
	  	 	119	 
	 9.05
	 	 Delegation of Duties
	  	 	120	 
	 9.06
	 	 Resignation of Administrative Agent
	  	 	120	 
	 9.07
	 	 Non-Reliance on Administrative Agent and Other
Lenders
	  	 	121	 
	 9.08
	 	 No Other Duties, Etc.
	  	 	122	 
	 9.09
	 	 Administrative Agent May File Proofs of Claim
	  	 	122	 
	 9.10
	 	 Guaranty and Collateral Matters
	  	 	123	 
	 9.11
	 	 Withholding Tax
	  	 	124	 
	 9.12
	 	 Intercreditor Agreements, Collateral Matters and Specified Amendments
	  	 	124	 
		
	 ARTICLE X. MISCELLANEOUS
	  	 	125	 
	 10.01
	 	 Amendments, Etc.
	  	 	125	 
	 10.02
	 	 Notices; Effectiveness; Electronic Communication
	  	 	128	 
	 10.03
	 	 No Waiver; Cumulative Remedies
	  	 	131	 
	 10.04
	 	 Expenses; Indemnity; Damage Waiver
	  	 	131	 
	 10.05
	 	 Marshalling; Payments Set Aside
	  	 	133	 

  
 iii 

							
	 10.06
	 	 Successors and Assigns
	  	 	134	 
	 10.07
	 	 Treatment of Certain Information; Confidentiality
	  	 	138	 
	 10.08
	 	 Right of Setoff
	  	 	139	 
	 10.09
	 	 Usury Savings Clause
	  	 	140	 
	 10.10
	 	 Counterparts; Integration; Effectiveness
	  	 	140	 
	 10.11
	 	 Survival of Representations, Warranties
	  	 	141	 
	 10.12
	 	 Severability
	  	 	141	 
	 10.13
	 	 Replacement of Lenders
	  	 	141	 
	 10.14
	 	 Governing Law; Jurisdiction; Etc.
	  	 	142	 
	 10.15
	 	 Waiver of Jury Trial
	  	 	143	 
	 10.16
	 	 USA PATRIOT Act Notice
	  	 	144	 
	 10.17
	 	 Time of the Essence
	  	 	144	 
	 10.18
	 	 [Reserved]
	  	 	144	 
	 10.19
	 	 No Advisory or Fiduciary Responsibility
	  	 	144	 
	 10.20
	 	 [Reserved]
	  	 	145	 
	 10.21
	 	 Release of Liens and Release from Guaranty
	  	 	145	 
	 10.22
	 	 Independence of Covenants
	  	 	146	 
	 10.23
	 	 Independent Nature of Lenders’ Rights
	  	 	146	 
	 10.24
	 	 Acknowledgement and Consent to Bail-In of EEA Financial
Institutions
	  	 	146	 
	 10.25
	 	 Original Issue Discount
	  	 	147	 

  
 iv 

 SCHEDULES 

			
	 1.01(a)
	 	 Guarantors

	 1.01(b)
	 	 Unrestricted Subsidiaries

	 1.01(c)
	 	 Excluded Equity Interests

	 1.01(d)
	 	 Real Property Marketed for Sale

	 1.01(e)
	 	 Reserve Areas

	 2.01
	 	 Commitments

	 5.08(b)
	 	 Fee Owned Material Real Property

	 5.08(c)
	 	 Leased Material Real Property

	 5.08(d)
	 	 Material Real Property for Title Opinions

	 5.09
	 	 Environmental Matters

	 5.13
	 	 Subsidiaries

	 5.18
	 	 Intellectual Property

	 5.20
	 	 Mines

	 6.18
	 	 Post Closing Covenants

	 7.01
	 	 Existing Liens

	 7.02
	 	 Existing Investments

	 7.03
	 	 Existing Indebtedness

	 7.05
	 	 Specified Dispositions

	 7.08
	 	 Transactions with Affiliates

	 7.12
	 	 Burdensome Agreements

	 10.02
	 	 Administrative Agent’s Office; Certain Addresses for Notices

	 10.06
	 	 Processing and Recordation Fees

 EXHIBITS 

			
	 Form of:

	 A
	 	 Borrowing Notice

	 B
	 	 [Reserved]

	 C
	 	 Note

	 D
	 	 Compliance Certificate

	 E
	 	 Assignment and Assumption

	 F
	 	 Guaranty

	 G
	 	 Security Agreement

	 H-1
	 	 Opinion of Jones Day

	 H-2
	 	 Opinion of Triay Stagnetto Neish

	 H-3
	 	 Opinion of Bingham Greenebaum Doll LLP

	 I-1
	 	 Collateral Trust Agreement

	 J
	 	 Mortgage

	 K
	 	 Solvency Certificate

	 L
	 	 Auction Procedures

	 M-1
	 	 U.S. Tax Compliance Certificate

	 M-2
	 	 U.S. Tax Compliance Certificate

	 M-3
	 	 U.S. Tax Compliance Certificate

	 M-4
	 	 U.S. Tax Compliance Certificate

  
 v 

 CREDIT AGREEMENT 

This CREDIT AGREEMENT (as amended, restated, extended, supplemented or otherwise modified, the “Agreement”) is entered into
as of April 3, 2017, among PEABODY ENERGY CORPORATION, a Delaware corporation (the “Borrower”), each lender from time to time party hereto (collectively, the “Lenders” and, individually, a
“Lender”), GOLDMAN SACHS BANK USA, as Administrative Agent, GOLDMAN SACHS BANK USA, J.P. MORGAN CHASE BANK, N.A. and CREDIT SUISSE SECURITIES (USA) LLC, as joint lead arrangers and joint bookrunners, GOLDMAN SACHS BANK USA, as
syndication agent (in such capacity, the “Syndication Agent”), and JPMORGAN CHASE BANK, N.A., CREDIT SUISSE AG AND MACQUARIE CAPITAL (USA) INC., as co-documentation agents (in such capacities, the
“Documentation Agents”). 
 PRELIMINARY STATEMENTS 

The Borrower, together with certain of its wholly-owned Domestic Subsidiaries and one subsidiary organized under the laws of Gibraltar
(collectively, the “Debtors”), each filed a voluntary petition for relief under Chapter 11 of Title 11 of the United States Code on April 13, 2016. 

Pursuant to the Confirmation Order, entered on March 17, 2017, the Bankruptcy Court confirmed the Debtors’ Plan of Reorganization,
and the Debtors will emerge from the Bankruptcy Cases pursuant thereto (the “Exit”) on the Closing Date. 
 The Borrower
has requested that on the Closing Date, the Lenders make Term Loans to the Borrower to finance a portion of the Transactions and to pay fees and expenses in connection with the Transactions (the “Transaction Costs”) and the Lenders
have agreed to provide such Term Loans on the terms and subject to the conditions set forth herein. 
 In consideration of the mutual
covenants and agreements herein contained, the parties hereto covenant and agree as follows: 
 ARTICLE I. 

DEFINITIONS AND ACCOUNTING TERMS 

1.01    Defined Terms. As used in this Agreement, the following terms shall have the meanings set forth below: 

“ABL Agent(s)” means each administrative agent, collateral agent, collateral trustee or other representative of the holders
of ABL Obligations with respect to any ABL Facility. 
 “ABL Credit Documents” means the instruments or agreements executed
in connection with any ABL Facility (including all security agreements, collateral assignments, mortgages, control agreements or other grants or transfers for security in favor of any ABL Agent, for the benefit of the holders of ABL Obligations) and
any instrument or agreement executed in connection with any refinancings and replacements thereof to the extent permitted under the ABL Intercreditor Agreement, as each such instrument or agreement may be amended, restated, supplemented, replaced or
otherwise modified from time to time in accordance with the ABL Intercreditor Agreement. 

  
 1 

 “ABL Facility” means one or more asset based lending facilities; provided that
the aggregate principal amount outstanding of all ABL Facilities, together with the aggregate principal amount (or similar amount) outstanding under any Permitted Securitization Program, shall not exceed the greater of $250,000,000 and 3.5% of
Consolidated Net Tangible Assets. 
 “ABL Intercreditor Agreement” means an intercreditor agreement to be entered into
between the ABL Agent, the Collateral Trustee and the Junior Collateral Trustee that sets forth the relative priority of the Priority Liens and the Junior Liens (as each term is defined in the Collateral Trust Agreement), on the one hand, compared
to the ABL Liens (as defined in the Collateral Trust Agreement), on the other hand, on substantially the terms described in Section 7.25 of the Collateral Trust Agreement and otherwise in accordance with Section 7.25 of the Collateral
Trust Agreement, as the same may be amended, restated, supplemented or otherwise modified from time to time. 
 “ABL
Obligations” means all debts, liabilities and obligations incurred by the Borrower or any Subsidiary under the ABL Credit Documents. 

“ABL Priority Collateral” has the meaning assigned to “ABL Priority Collateral” in the Collateral Trust Agreement.

 “Accepting Lenders” has the meaning specified in Section 10.01(g). 

“Accounting Change” means changes in accounting principles after the Closing Date required by the promulgation of any rule,
regulation, pronouncement or opinion by the Financial Accounting Standards Board or, if applicable, the SEC. 
 “Acquisition
Agreement” means, with respect to any Permitted Acquisition, the definitive documentation for such Permitted Acquisition. 

“Acquisition Agreement Representations” means, with respect to any Acquisition Agreement, the representations and warranties
made by or with respect to the Person to be acquired or selling its assets pursuant to such Acquisition Agreement that are material to the interests of the Lenders, but only to the extent that (a) the accuracy of any such representation or
warranty is a condition to the Borrower’s or its Restricted Subsidiary’s obligations to close under the Acquisition Agreement or (b) the Borrower or Restricted Subsidiary has the right to terminate its obligations under the
Acquisition Agreement as a result of a breach of such representations and warranties. 
 “Additional Extensions of Credit”
has the meaning specified in Section 10.01. 
 “Administrative Agent” means Goldman Sachs Bank
USA, in its capacity as administrative agent under any of the Loan Documents, or any successor administrative agent. 

  
 2 

 “Administrative Agent’s Office” means the Administrative Agent’s
address and, as appropriate, account as set forth on Schedule 10.02, or such other address or account as the Administrative Agent may from time to time notify to the Borrower and the Lenders. 

“Administrative Questionnaire” means an administrative questionnaire in a form supplied by the Administrative Agent. 

“Affiliate” means, with respect to any Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Agent Parties” has
the meaning specified in Section 10.02(c). 
 “Agents” means the Administrative Agent, the Syndication Agent and the
Documentation Agents. 
 “Aggregate Commitments” means the Commitments of all the Lenders. 

“Agreement” has the meaning specified in the introductory paragraph to this Agreement. 

“Anti-Corruption Laws” has the meaning specified in Section 5.17. 

“Applicable Percentage” means, with respect to any Lender at any time, the percentage (carried out to the tenth decimal
place) of the Term Loan Facility represented by (i) until the Closing Date, such Lender’s respective Term Loan Commitments and (ii) thereafter, the aggregate principal amount of such Lender’s Term Loans then outstanding. The
initial Applicable Percentage of each Lender in respect of the Facility is set forth opposite the name of such Lender on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable.

 “Applicable Rate” means a percentage per annum equal to (i) 4.50% for Eurocurrency Rate Loans and (ii) 3.50% for Base
Rate Loans. 
 “Applicable Reserve Requirement” means, at any time, for any Eurocurrency Rate Loan, the maximum rate,
expressed as a decimal, at which reserves (including any basic marginal, special, supplemental, emergency or other reserves) are required to be maintained with respect thereto against “Eurocurrency liabilities” (as such term is defined in
Regulation D) under regulations issued from time to time by the Board of Governors or other applicable banking regulator. Without limiting the effect of the foregoing, the Applicable Reserve Requirement shall reflect any other reserves required to
be maintained by such member banks with respect to (i) any category of liabilities which includes deposits by reference to which the applicable Eurocurrency Rate or any other interest rate of a Loan is to be determined, or (ii) any
category of extensions of credit or other assets which include Eurocurrency Rate Loans. A Eurocurrency Rate Loan shall be deemed to constitute Eurocurrency liabilities and as such shall be deemed subject to reserve requirements without benefits of
credit for proration, exceptions or offsets that may be available from time to time to the applicable Lender. The rate of interest on Eurocurrency Rate Loans shall be adjusted automatically on and as of the effective date of any change in the
Applicable Reserve Requirement. 

  
 3 

 “Approved Fund” means any Fund that is administered or managed by (a) a
Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 

“Arrangers” means Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A. and Credit Suisse Securities (USA) LLC, each in its
capacity as joint lead arranger and joint bookrunner. 
 “Asset Sale” means any Disposition or series of related
Dispositions of property by the Borrower or any of its Restricted Subsidiaries to any Person; provided that “Asset Sale” shall exclude any Disposition or series of related Dispositions with a fair market value (as reasonably
determined by the Borrower in good faith) of less than $10,000,000; provided, further, that “Asset Sale” shall exclude the sale or discount of accounts receivable arising in the ordinary course of business in connection with
the compromise or collection thereof. 
 “Asset Sale Sweep Provision” has the meaning specified in Section 2.05(e).

 “Assignee Group” means two or more Eligible Assignees that are Affiliates of one another or two or more Approved Funds
managed by the same investment advisor. 
 “Assignment and Assumption” means an assignment and assumption entered into by a
Lender and an Eligible Assignee (with the consent of any party whose consent is required by Section 10.06(b), and accepted by the Administrative Agent) in substantially the form of Exhibit E or any other form approved by the
Administrative Agent, in accordance with Section 10.06(b). 
 “Attributable Indebtedness” means, on any date, in
respect of any Capital Lease Obligations of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP. 

“Auction” has the meaning specified in Section 2.19(a). 

“Auction Manager” has the meaning specified in Section 2.19(a). 

“Auction Procedures” means the procedures for conducting any Auction set forth on Exhibit L, subject to modification as
mutually determined by the Borrower and the Auction Manager and consented to by the Administrative Agent (such consent not to be unreasonably withheld or delayed). 

“Audited Financial Statements” means the audited consolidated balance sheet of the Borrower and its Subsidiaries for each of
the fiscal years ended December 31, 2016, December 31, 2015 and December 31, 2014 and the related consolidated statements of income or operations, changes in shareholders’ equity and cash flows for such fiscal year of the
Borrower and its Subsidiaries, including the notes thereto. 
 “Authorization Order” means that certain Order
(I) Authorizing the Debtors to (A) Enter into Exit Financing Commitment Letter and Related Agreements and (B) Incur and Pay Certain Related Fees and/or Premiums, Indemnities, Costs and Expenses; and (II) Granting Related Relief,
as entered in the Bankruptcy Court on January 27, 2017, Docket No. 2225. 

  
 4 

 “Backstop Commitment Agreement” means that certain Backstop Commitment
Agreement, dated as of December 22, 2016, by and among the Borrower and each Commitment Party (as defined therein). 
 “Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. 

“Bail-In Legislation” means, with respect to any EEA Member Country implementing
Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In
Legislation Schedule. 
 “Bankruptcy Cases” means the cases of Borrower and certain of its direct and indirect wholly-owned
Domestic Subsidiaries and one subsidiary organized under the laws of Gibraltar in the United States Bankruptcy Court for the Eastern District of Missouri under Chapter 11 of Title 11 of the United States Code consolidated under Case No. 16-42529. 
 “Bankruptcy Court” means the United States Bankruptcy Court for the
Eastern District of Missouri and, to the extent of the withdrawal of any reference under 28 U.S.C. § 157, the United States District Court for the Eastern District of Missouri. 

“Base Rate” means for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate
plus 0.50%, (b) the Eurocurrency Rate (after giving effect to any Eurocurrency Rate “floor”) that would be payable on such day for a Eurocurrency Rate Loan with a one month Interest Period plus 1%, and (c) the Prime Rate
in effect on such day. Any change in the Base Rate due to a change in the Prime Rate or the Federal Funds Rate shall be effective on the effective day of such change in the Prime Rate or the Federal Funds Rate, respectively. In no event, with
respect to the Term Loans issued on the Closing Date, notwithstanding the rate determined pursuant to the foregoing, shall the Base Rate be less than 2.00%. 

“Base Rate Loan” means a Term Loan that bears interest based on the Base Rate. 

“Borrower” has the meaning specified in the introductory paragraph hereto. 

“Borrower Materials” has the meaning specified in Section 6.02. 

“Borrowing” means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurocurrency Rate
Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01. 
 “Borrowing
Notice” means a notice of (a) a Borrowing, (b) a conversion of Term Loans from one Type to the other or (c) a continuation of Eurocurrency Rate Loans, in each case, pursuant to Section 2.02(a), which, if in writing,
shall be substantially in the form of Exhibit A. 

  
 5 

 “Building” means a Building as defined in 12 CFR Chapter III,
Section 339.2. 
 “Business Day” means (i) any day excluding Saturday, Sunday and any day which is a legal
holiday under the laws of the State of New York or is a day on which banking institutions located in such state are authorized or required by law or other governmental action to close and (ii) with respect to all notices, determinations,
fundings and payments in connection with the Eurocurrency Rate or any Eurocurrency Rate Loans, the term “Business Day” means any day which is a Business Day described in clause (i) and which is also a day for trading by and between
banks in Dollar deposits in the London interbank market. 
 “Capital Expenditure” means any expenditure that, in accordance
with GAAP, is or should be included in “purchase of property and equipment” or similar items, or which should otherwise be capitalized, reflected in the consolidated statement of cash flows of the Borrower and its Restricted Subsidiaries;
provided that Capital Expenditure shall not include any expenditure (i) for replacements and substitutions for fixed assets, capital assets or equipment to the extent made with Net Insurance/Condemnation Proceeds invested pursuant to
Section 2.05(h) or with Net Proceeds invested pursuant to Section 2.05(e) or (ii) which constitute a Permitted Acquisition. 

“Capital Lease Obligations” means of any Person as of the date of determination, the aggregate liability of such Person under
Financing Leases reflected on a balance sheet of such Person under GAAP. 
 “Capital Stock” means any and all shares,
interests, participations or other equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation) and any and all warrants or options to purchase any of the
foregoing, but excluding any securities convertible into or exchangeable for shares of Capital Stock. 
 “Cash Equivalents”
means 
  

	 	(a)	U.S. Government Obligations or certificates representing an ownership interest in U.S. Government Obligations with maturities not exceeding two years from the date of acquisition, 

 

	 	(b)	(i) demand deposits, (ii) time deposits and certificates of deposit with maturities of two years or less from the date of acquisition, (iii) bankers’ acceptances with maturities not exceeding two years
from the date of acquisition, and (iv) overnight bank deposits, in each case with any bank or trust company organized or licensed under the laws of the United States or any state thereof (including any branch of a foreign bank licensed under
any such laws) having capital, surplus and undivided profits in excess of $250,000,000 (or the foreign currency equivalent thereof) whose short-term debt is rated A-2 or higher by S&P or P-2 or higher by Moody’s, 

  
 6 

	 	(c)	commercial paper maturing within 364 days from the date of acquisition thereof and having, at such date of acquisition, ratings of at least A-1 by S&P or P-1 by Moody’s, 

  

	 	(d)	readily marketable direct obligations issued by any state, commonwealth or territory of the U.S. or any political subdivision thereof, in each case rated at least A-1 by S&P
or P-1 by Moody’s with maturities not exceeding one year from the date of acquisition, 

  

	 	(e)	bonds, debentures, notes or other obligations with maturities not exceeding two years from the date of acquisition issued by any corporation, partnership, limited liability company or similar entity whose long-term
unsecured debt has a credit rate of A2 or better by Moody’s and A or better by S&P; 

  

	 	(f)	investment funds at least 95% of the assets of which consist of investments of the type described in clauses (a) through (e) above (determined without regard to the maturity and duration limits for such investments
set forth in such clauses, provided that the weighted average maturity of all investments held by any such fund is two years or less), 

  

	 	(g)	fully collateralized repurchase agreements with a term of not more than 30 days for securities described in clause (a) above and entered into with a financial institution satisfying the criteria described in clause
(b) above and 

  

	 	(h)	in the case of a Restricted Subsidiary that is a Foreign Subsidiary, substantially similar investments, of comparable credit quality, denominated in the currency of any jurisdiction in which such Person conducts
business. 

 “Cash Management Obligations” means any and all obligations of the Borrower or any Restricted
Subsidiary arising out of (a) the execution or processing of electronic transfers of funds by automatic clearing house transfer, wire transfer or otherwise to or from the deposit accounts of the Borrower and/or any Restricted Subsidiary,
(b) the acceptance for deposit or the honoring for payment of any check, draft or other item with respect to any such deposit accounts, (c) any other treasury, deposit, disbursement, overdraft, and cash management services afforded to the
Borrower or any Restricted Subsidiary, and (d) stored value card, commercial credit card and merchant card services. 
 “Change
in Law” means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the
administration, interpretation or application thereof by any Governmental Authority or (c) the making or issuance of any request or directive (whether or not having the force of law) by any Governmental Authority required to be complied with by
any Lender. For purposes of this definition, (x) the Dodd-Frank Act and any rules, regulations, orders, requests, guidelines and directives adopted, promulgated or implemented in connection therewith, and (y) all requests, rules,
guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States regulatory authorities, in each case pursuant to Basel III, shall
in each case be deemed to have been adopted, issued, promulgated or 

  
 7 

 
implemented after the Closing Date, but shall be included as a Change in Law only to the extent a Lender is imposing applicable increased costs or costs in connection with capital adequacy and
other requirements similar to those described in Sections 3.04(a) and (b) generally on other similarly situated borrowers of loans under United States credit facilities. 

“Change of Control” means: 

(a)    an event or series of events by which any “person” or “group” (as such terms are used in
Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any
such plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934), directly or indirectly, of 35% or
more of the equity securities of the Borrower entitled to vote for members of the board of directors or equivalent governing body of the Borrower on a fully-diluted basis; or 

(b)    a “Change of Control” as defined in the Priority Lien Notes Indenture or the ABL Credit Documents, in
each case, as amended, restated, modified, replaced, or refinanced from time to time. 
 “Closing Date” means the date on
which all the conditions precedent in Section 4.01 are satisfied or waived in accordance with Section 10.01 and the Term Loans are made, which occurred on April 3, 2017. 

“Closing Date Material Adverse Effect” means any circumstance or condition that individually or in the aggregate, would
reasonably be expected to materially adversely affect (a) the business, assets, results of operations, properties or financial condition of the Borrower and its Restricted Subsidiaries taken as a whole, (b) the ability of the Borrower and
the Guarantors, taken as a whole, to perform their payment obligations under this Agreement or the Guaranty or (c) the rights and remedies of the Administrative Agent, the Collateral Trustee and the Lenders under this Agreement or the other
Loan Documents, in each case, except to the extent such event results from, arises out of, or is attributable to, the following (either alone or in combination): (i) any change after such date in global, national or regional political conditions
(including hostilities, acts of war, sabotage, terrorism or military actions, or any escalation or material worsening of any such hostilities, acts of war, sabotage, terrorism or military actions existing or underway) or in the general business,
market, financial or economic conditions affecting the industries, regions and markets in which the Loan Parties operate, including any change in the United States or applicable foreign economies or securities, commodities or financial markets, or
force majeure events or “acts of God”; (ii) any changes after such date in applicable law or GAAP, or in the interpretation or enforcement thereof; (iii) the execution, announcement or performance of the transactions contemplated by
the Plan of Reorganization (including any act or omission of the Loan Parties expressly required or prohibited, as applicable, by the Plan of Reorganization or consented to or required by the Requisite Members of the Noteholder Steering Committee
(each as defined in the Plan of Reorganization) in writing); (iv) changes in the market price or trading volume of the claims or equity or debt securities of the Loan Parties (but not the underlying facts giving rise to such changes unless such
facts are otherwise excluded pursuant to the clauses contained in this definition); (v) the departure of officers or directors of any of the 

  
 8 

 
Loan Parties not in contravention of the terms and conditions of the Plan Support Agreement or the Plan of Reorganization (but not the underlying facts giving rise to such departure unless such
facts are otherwise excluded pursuant to the clauses contained in this definition); (vi) the filing or pendency of the Bankruptcy Cases (including events resulting from any filing made in such Bankruptcy Cases); or (vii) declarations of
national emergencies in the United States or natural disasters in the United States; provided, that the exceptions set forth in clauses (i), (ii) and (vii) shall not apply to the extent that such event is materially and disproportionately
adverse to the Loan Parties, taken as a whole, as compared to other companies in the industries in which the Loan Parties operate. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time (unless as indicated otherwise). 

“Collateral” means, collectively, all of the real, personal and mixed property (including Equity Interests) in which Liens
are purported to be granted pursuant to the Security Documents as security for all or any part of the Obligations (subject to exceptions contained in the Security Documents), in each case excluding any Excluded Assets. 

“Collateral Questionnaire” means a certificate in form reasonably satisfactory to Administrative Agent that provides
information with respect to the personal or mixed property of each Loan Party. 
 “Collateral Trust Agreement” means a
collateral trust agreement substantially in the form of Exhibit I-1, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time. 

“Collateral Trustee” means Wilmington Trust, National Association and its successors and assigns as Collateral Trustee
pursuant to the Collateral Trust Agreement. 
 “Commitment” means a Term Loan Commitment or corresponding commitment under
another Facility, as the context may require. 
 “Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. §
1 et seq.), as amended and any successor statute. 
 “Compliance Certificate” means a certificate substantially in the form
of Exhibit D. 
 “Confirmation Order” means an order confirming the Plan of Reorganization, which confirmation order
shall be, to the extent material to the Arrangers and the Lenders, in form and substance reasonably acceptable to each Arranger and Lender. 

“Consolidated Capital Expenditures” means, for any period, the aggregate of all Capital Expenditures of the Borrower and its
Restricted Subsidiaries during such period determined on a consolidated basis in accordance with GAAP. 
 “Consolidated
EBITDA” means, as of the last day of any period, Consolidated Net Income for such period plus, without duplication, for such period (i) consolidated interest expense, determined in accordance with GAAP; (ii) to the extent deducted
in computing such 

  
 9 

 
Consolidated Net Income, the sum of all income, franchise or similar taxes; (iii) depreciation, depletion, amortization (including, without limitation, amortization of intangibles, deferred
financing fees and any amortization included in pension or other employee benefit expenses) and all other non-cash items reducing Consolidated Net Income (including, without limitation, write-downs and
impairment of property, plant, equipment and intangibles and other long-lived assets and the impact of purchase accounting) but excluding, in each case, non-cash charges in a period which reflect cash expenses
paid or to be paid in another period); (iv) non-recurring restructuring costs, expenses and charges, including, without limitation, all business optimization costs and expenses, facility opening, pre-opening and closing and consolidation costs and expenses, advisory and professional fees and stay and retention bonuses; (v) any expenses, costs or charges related to any equity offering, Investment
permitted under Section 7.02, acquisition, disposition, recapitalization or Indebtedness permitted to be incurred by the indenture (whether or not successful); (vi) all non-recurring or unusual losses,
charges and expenses (and less all non-recurring or unusual gains); (vii) all non-cash charges and expenses; (viii) any debt extinguishment costs; (ix) any
amount of asset retirement obligations expenses; (x) transaction costs, fees and expenses incurred during such period in connection with any acquisition or disposition not prohibited hereunder or any issuance of debt or equity securities by the
Borrower or any of its Restricted Subsidiaries, in each case, for such expenses; (xi) net after-tax losses attributable to asset sales, and net after-tax
extraordinary losses; (xii) (a) mark-to-market gains (and less any mark-to-market
losses) relating to any Hedging Agreements permitted hereunder and (b) any mark-to-market losses attributed to short positions in any actual or synthetic forward
sales contracts relating to coal or any other similar device or instrument or other instrument classified as a “derivative” pursuant to FASB ASC Topic No. 815, Derivatives and Hedging and (xiii) commissions, premiums, discounts,
fees or other charges relating to performance bonds, bid bonds, appeal bonds, surety bonds, reclamation and completion guarantees and other similar obligations; provided that, with respect to any Restricted Subsidiary, such items will be added only
to the extent and in the same proportion that the relevant Restricted Subsidiary’s net income was included in calculating Consolidated Net Income. 

“Consolidated Net Income” means, for any period, the net income (or loss) attributable to the Borrower and its Restricted
Subsidiaries for that period, determined in accordance with GAAP, excluding, without duplication, (a) noncash compensation expenses related to common stock and other equity securities issued to employees, (b) extraordinary or non-recurring gains and losses, (c) income or losses from discontinued operations or disposal of discontinued operations or costs and expenses associated with the closure of any mines (including any reclamation
or disposal obligations), (d) any non-cash impairment charges or asset write-off resulting from the application of ASC 320 Investments-Debt and Equity Securities, ASC
323 Investments-Equity Method and Joint Ventures, ASC 350 Intangibles—Goodwill and Other and ASC 360 Property, Plant and Equipment and any future or similar ASC standards relating to impairment, (e) net unrealized gains or losses resulting
in such period from non-cash foreign currency remeasurement gains or losses, (f) net unrealized gains or losses resulting in such period from the application ASC 815 Derivatives and Hedging, in each case,
for such period, (g) non-cash charges including non-cash charges due to cumulative effects of changes in accounting principles, and (h) any net income (or
loss) of the Borrower or a Restricted Subsidiary for such period that is accounted for by the equity method of accounting to the extent included therein; plus, without duplication, any cash dividends and/or distributions actually received by
the Borrower or a Restricted Subsidiary from any Unrestricted Subsidiary and/or Joint Venture during such period to the extent not already included therein. 

  
 10 

 “Consolidated Net Tangible Assets” means, as of any particular time, the total
of all the assets appearing on the most recent consolidated balance sheet prepared in accordance with GAAP of the Borrower and the Restricted Subsidiaries as of the end of the last fiscal quarter for which financial information is available (less
applicable reserves and other properly deductible items) after deducting from such amount (i) all current liabilities, including current maturities of long-term debt and current maturities of obligations under capital leases (other than any
portion thereof maturing after, or renewable or extendable at the option of the Borrower or the relevant Restricted Subsidiary beyond, twelve months from the date of determination); and (ii) the total of the net book values of all assets of the
Borrower and its Restricted Subsidiaries properly classified as intangible assets under GAAP (including goodwill, trade names, trademarks, patents, unamortized debt discount and expense and other like intangible assets). 

“Consolidated Net Total Debt” means, as of any date of determination, (a) the aggregate stated balance sheet amount of
all Indebtedness described in clauses (a), (b), (c), (f) and (g) (with respect to Indebtedness described in clauses (a), (b), (c) and (f)) of the definition of the term “Indebtedness” of Borrower and its Restricted Subsidiaries (for the
avoidance of doubt, for this purpose, letters of credit will be deemed to have a principal amount equal to the amount drawn and not reimbursed thereunder, if any) determined on a consolidated basis in accordance with GAAP, minus (b) the
aggregate amount of Unrestricted Cash included in the consolidated balance sheet of Borrower and its Restricted Subsidiaries as of such date (other than the proceeds of Incremental Debt to be incurred on such date of determination). 

“Contract” has the meaning specified in the definition of Excluded Assets. 

“Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement,
instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Controlled Subsidiary” means, with respect to any consent, waiver or right to terminate or accelerate the obligations under
a Contract, any Subsidiary that the Borrower directly or indirectly Controls for purposes of the provision of such consent, waiver or exercise of such right to terminate or accelerate the obligations under such Contract. 

“Convertible Securities” means the preferred stock of the Borrower issued pursuant to the Plan of Reorganization on the
Closing Date which shall be convertible into common stock of the Borrower, in an aggregate amount of at least $750,000,000. 

“Copyright Security Agreement” means the Copyright Security Agreement, substantially in the form attached to the Security
Agreement or such other form reasonably acceptable to the Administrative Agent and the Borrower, by certain Loan Parties in favor of the Collateral Trustee, for the benefit of the Secured Parties. 

  
 11 

 “Cumulative Amount” means at any time (the “Cumulative Amount Reference
Time”), an amount (which shall not be less than zero) equal to, without duplication: 
 (i) (x) the cumulative amount of
Excess Cash Flow of the Borrower and its Restricted Subsidiaries for all fiscal years completed after the Closing Date (commencing with the portion of fiscal year 2017) and prior to the Cumulative Amount Reference Time, minus (y) the
portion of such Excess Cash Flow that has been (or is required to be) applied after the Closing Date and prior to the Cumulative Amount Reference Time to the prepayment of Term Loans in accordance with Section 2.05(g) or any other pari passu
Indebtedness (including the Priority Lien Notes) in accordance with the terms thereof (but excluding for purposes of this clause (y) any portion of such Excess Cash Flow with respect to which such prepayment has been waived by the Lender or
other holder of such Indebtedness entitled thereto); plus 
 (ii) the amount of any Declined Proceeds; minus 

(iii) the aggregate amount of any Restricted Payment made pursuant to Section 7.06(e)(ii), any Investments made pursuant to Section
7.02(m)(ii) and any Capital Expenditures made pursuant to Section 7.14(b) during the period commencing on the Closing Date and ending on or prior to the Cumulative Amount Reference Time (and, for purposes of this clause (iii), without
taking account of the intended usage of the Cumulative Amount at such Cumulative Amount Reference Time). 
 “Cumulative Amount
Reference Time” has the meaning specified in the definition of “Cumulative Amount”. 
 “Debtor Relief
Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor
relief laws of the United States or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally. 

“Debtors” has the meaning specified in the preliminary statements to this Agreement. 

“Declined Proceeds” has the meaning specified in Section 2.05(n). 

“Default” means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the
passage of time, or both, would be an Event of Default. 
 “Default Rate” means an interest rate equal to (i) the Base
Rate plus (ii) the Applicable Rate applicable to Base Rate Loans plus (iii) 2% per annum; provided, however, that with respect to a Eurocurrency Rate Loan, the Default Rate shall be an interest rate equal to
(i) the Eurocurrency Rate otherwise applicable to such Eurocurrency Rate Loan plus (ii) the Applicable Rate applicable to Eurocurrency Rate Loans plus (iii) 2% per annum. 

  
 12 

 “Defaulting Lender” means any Lender that (a) has failed to fund any
portion of the Loans, unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such Lender’s reasonable determination that one or more conditions precedent to funding (each of which
conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, (b) has otherwise failed to pay over to the Administrative Agent or any other Lender any other amount required
to be paid by it hereunder within three Business Days of the date when due, unless the subject of a good faith dispute, (c) has been deemed insolvent or become the subject of a bankruptcy or insolvency proceeding provided that a Lender shall
not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or
provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow
or disaffirm any contracts or agreements made with such Lender or (d) has become the subject of a Bail-In Action. A Lender that has become a Defaulting Lender because of an event referenced in this
definition may cure such status and shall no longer constitute a Defaulting Lender as provided in the last paragraph of Section 2.18. 

“Designated Letters of Credit” means letters of credit issued with respect to Mine reclamation, workers’ compensation
and other employee benefit liabilities. 
 “Designated Non-Cash Consideration”
means the fair market value (as reasonably determined by the Borrower in good faith) of non-cash consideration received by the Borrower or any of its Restricted Subsidiaries in connection with a Disposition
that is so designated as “Designated Non-Cash Consideration” minus the amount of cash or Cash Equivalents received in connection with a subsequent sale of such Designated Non-Cash Consideration. 
 “Disposition” or “Dispose” means the sale,
transfer, license, lease or other disposition (including any sale and leaseback transaction) of any property by any Person, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or
any rights and claims associated therewith. 
 “Disqualified Equity Interest” means Equity Interests that by their terms
(or by the terms of any security into which such Equity Interests are convertible, or for which such Equity Interests are exchangeable, in each case at the option of the holder thereof) or upon the happening of any event (i) mature or are
mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or are required to be redeemed or redeemable at the option of the holder for consideration other than Qualified Equity Interests, or (ii) are convertible at the option
of the holder into Disqualified Equity Interests or exchangeable for Indebtedness, in each case of clauses (i) and (ii) prior to the date that is 91 days after the final Maturity Date hereunder, except, in the case of clauses (i) and
(ii), if as a result of a change of control or asset sale, so long as any rights of the holders thereof upon the occurrence of such a change of control or asset sale event are subject to the prior payment in full of all Obligations. 

“Disqualified Institution” means (i) any financial institutions and entities identified by the Borrower to the Arrangers
by name in writing on or prior to January 11, 2017 or as the Borrower 

  
 13 

 
and the Arrangers (or, after the Closing Date, the Borrower and the Administrative Agent) shall mutually agree after such date, (ii) any competitors of the Borrower or any of its
Subsidiaries identified by the Borrower to the Administrative Agent and Lenders by name in writing from time to time and (iii) affiliates of the foregoing that are readily identifiable solely on the basis of similarity of their names;
provided that (x) “Disqualified Institutions” shall not include any bona fide diversified debt fund or a diversified investment vehicle that is engaged in the making, purchasing, holding or otherwise investing in, acquiring or
trading commercial loans, bonds and similar extensions of credit in the ordinary course; (y) neither Administrative Agent nor Arranger shall have any responsibility for monitoring compliance with any provisions of this Agreement with respect to
Disqualified Institutions and (z) updates to the Disqualified Lender schedule shall not retroactively invalidate or otherwise affect any (A) assignments or participations made to, (B) any trades entered into with or
(C) information provided to any Person before it was designated as a Disqualified Institution. It is acknowledged and agreed by the Borrower that the identity of Disqualified Institutions will be made available to the Lenders. 

“Documentation Agents” has the meaning specified in the preamble hereto. 

“Dodd-Frank Act” means the Dodd–Frank Wall Street Reform and Consumer Protection Act (Pub.L. 111-203, H.R. 4173) signed into law on July 21, 2010, as amended from time to time. 

“Dollar” and “$” mean lawful money of the United States. 

“Domestic Subsidiary” means any Subsidiary that is organized under the laws of the United States or any State thereof or the
District of Columbia; provided, that in no event shall any such Subsidiary that is a Subsidiary of a Foreign Subsidiary be considered a “Domestic Subsidiary” for purposes of the Loan Documents. 

“EEA Financial Institution” means (a) any credit institution or investment firm established in any EEA Member Country
which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution
established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent. 

“EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway. 

“EEA Resolution Authority” means any public administrative authority or any Person entrusted with public administrative
authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Eligible Assignee” means (i) a Lender, (ii) an Affiliate of a Lender, (iii) an Approved Fund and
(iv) any other Person (other than a natural person) approved by (A) the Administrative Agent and (B) unless an Event of Default under Sections 8.01(a), (f) and (g) has occurred and is continuing, the Borrower (each such approval
not to be unreasonably withheld or delayed); provided, however, in each case, unless an Event of Default has occurred and is continuing, an 

  
 14 

 
Eligible Assignee shall include only a Lender, an Affiliate of a Lender or another Person, which, through its Lending Offices, is capable of lending to the Borrower, without the imposition of any
additional Indemnified Taxes and assignment to such Person would not, at the time of such assignment, result in the Borrower becoming liable to pay any additional amount to such Person or any Governmental Authority pursuant to
Section 3.01 or Section 3.04; provided further that no Defaulting Lender or Disqualified Institution shall be an Eligible Assignee. 

“Environmental Laws” means any and all applicable current and future federal, state, local and foreign statutes, laws,
regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or other governmental restrictions or common law causes of action relating to (a) protection of the environment or to
emissions, discharges, releases or threatened releases of pollutants, contaminants, chemicals, or industrial, toxic or hazardous substances or wastes into the environment including ambient air, surface, water, ground water, or land, (b) human
health as affected by Hazardous Materials, and (c) mining operations and activities to the extent relating to environmental protection or reclamation, including the Surface Mining Control and Reclamation Act, provided that
“Environmental Laws” do not include any laws relating to worker or retiree benefits, including benefits arising out of occupational diseases. 

“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of
environmental remediation, fines, penalties or indemnities), directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of
any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which
liability is assumed or imposed with respect to any of the foregoing. 
 “Environmental Permits” means any and all permits,
licenses, registrations, notifications, exemptions and any other authorization required under any applicable Environmental Law. 

“Equity Interests” means, with respect to any Person, all of the shares of Capital Stock of (or other ownership or profit
interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of Capital Stock of (or other ownership or profit interests in) such Person, and all of the other ownership or profit
interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other interests are outstanding on any date of determination (but
excluding any debt security that is convertible into, or exchangeable for, Equity Interests). 
 “ERISA” means the Employee
Retirement Income Security Act of 1974, as the same may be amended from time to time, the regulations promulgated thereunder and any successor statute. 

“ERISA Affiliate” means any trade or business (whether or not incorporated) under common control with the Borrower within the
meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code). 

  
 15 

 “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan;
(b) the failure to meet the minimum funding standards of Sections 412 or 430 of the Code or Sections 302 or 303 of ERISA with respect to any Pension Plan (whether or not waived in accordance with Section 412(c) of the Code or Section 302(c) of
ERISA) or the failure to make by its due date a required installment under Section 430(j) of the Code with respect to any Pension Plan or the failure to make any required contribution to a Multiemployer Plan; (c) a determination that any
Pension Plan is, or is expected to be, in “at risk” status (as defined in Section 430 of the Code or Section 303 of ERISA); (d) a determination that any Multiemployer Plan is, or is expected to be, in “critical” or
“endangered” status under Section 432 of the Code or Section 305 of ERISA; (e) a withdrawal by the Borrower or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was
a substantial employer (as defined in Section 4001(a)(2) of ERISA) or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA; (f) a complete or partial withdrawal by the Borrower or any ERISA Affiliate
from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization; (g) the filing of a notice of intent to terminate, the treatment of a Plan amendment as a termination under Section 4041 or 4041A of ERISA, or the
commencement of proceedings by the PBGC to terminate a Pension Plan or Multiemployer Plan; (h) an event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to
administer, any Pension Plan or Multiemployer Plan; (i) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Borrower or any ERISA Affiliate;
(j) receipt from the IRS of notice of the failure of any Pension Plan (or any other Plan intended to be qualified under Section 401(a) of the Code) to qualify under Section 401(a) of the Code, or the failure of any trust forming part of any
Pension Plan to qualify for exemption from taxation under Section 501(a) of the Code; (k) the imposition of a Lien pursuant to Section 430(k) of the Code or Section 303(k) of ERISA or a violation of Section 436 of the Code with respect to
any Pension Plan; or (l) the occurrence of any Foreign Plan Event. 
 “EU Bail-In
Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time. 

“Eurocurrency Rate” means, for any Interest Rate Determination Date with respect to an Interest Period for a Eurocurrency
Rate Loan, the rate per annum obtained by dividing (i) (a) the rate per annum equal to the rate determined by Administrative Agent to be the London interbank offered rate administered by the ICE Benchmark Administration (or any
other person which takes over the administration of that rate) for deposits (for delivery on the first day of such period) with a term equivalent to such period in Dollars displayed on the ICE LIBOR USD page of the Reuters Screen (or any replacement
Reuters page which displays that rate) or on the appropriate page of such other information service which publishes that rate from time to time in place of Reuters, determined as of approximately 11:00 a.m. (London, England time) on such Interest
Rate Determination Date, or (b) in the event the rate referenced in the preceding clause (a) is not available, the rate per annum equal to the offered quotation rate to first class banks in the London interbank market by Credit Suisse for
deposits (for delivery on the first day of the relevant period) in Dollars of amounts in same day funds comparable to the principal amount of the applicable Term Loan of Administrative Agent, in its capacity as a Lender, for which the Eurocurrency
Rate is then being determined with maturities comparable to such period as of 

  
 16 

 
approximately 11:00 a.m. (London, England time) on such Interest Rate Determination Date, by (ii) an amount equal to (a) one minus (b) the Applicable Reserve Requirement. In
no event, with respect to the Term Loans issued on the Closing Date, notwithstanding the rate determined pursuant to the foregoing, shall the Eurocurrency Rate be less than 1.00%. 

“Eurocurrency Rate Loan” means a Term Loan that bears interest at a rate based on the Eurocurrency Rate. 

“Event of Default” has the meaning specified in Section 8.01. 

“Excess Cash Flow” means, for any period, an amount (if positive) equal to, without duplication, the amount for such period,
as reflected in the Borrower’s and its Restricted Subsidiaries’ consolidated cash flow statement for the relevant period, of net cash provided by/used in operating activities (as determined in accordance with GAAP); 

minus 
 the sum, without
duplication, of the amounts for such period paid from Internally Generated Cash (except to the extent made using the Cumulative Amount) of: 
  

	 	(1)	scheduled repayments of Indebtedness for borrowed money (excluding repayments of revolving loans except to the extent the applicable revolving commitments are permanently reduced in connection with such repayments) and
scheduled repayments of Capital Lease Obligations (excluding any interest expense portion thereof), provided that, for the avoidance of doubt, any borrowing under the ABL Facility or repayment thereof (without a corresponding reduction in the
commitments thereunder) shall not increase or decrease Excess Cash Flow, 

  

	 	(2)	Consolidated Capital Expenditures, 

  

	 	(3)	Permitted Acquisitions and other Investments permitted pursuant to Section 7.02 (other than clauses (a) and (k) of Section 7.02), 

 

	 	(4)	pre-funding of royalty payments in the ordinary course of business, 

  

	 	(5)	distributions to non-controlling interests, 

  

	 	(6)	federal coal lease expenditures, and 

  

	 	(7)	net cash generated from proceeds of any Permitted Securitization Programs or loan proceeds from the ABL Facility (excluding interest costs). 

As used in clause (1) above, “scheduled repayments of Indebtedness” does not include (x) repurchases of Term Loans
pursuant to Sections 2.19 or 2.20 and (y) repayments of Loans made with the cash proceeds of any Permitted Refinancing Indebtedness. 

  
 17 

 “Excess Proceeds” has the meaning specified in Section 2.05(e). 

“Excluded Assets” means 

(a) motor vehicles and other assets subject to certificates of title where the net book value of any such motor vehicle or other such
asset individually is less than $1,000,000, 
 (b) commercial tort claims where the amount of the net proceeds claimed is less than
$10,000,000, 
 (c) (i) any lease, license or other written agreement or written obligation (each, a “Contract”) and
any leased or licensed asset under a Contract or asset financed pursuant to a purchase money financing Contract or Capital Lease Obligation, in each case that is the direct subject of such Contract (so long as such Contract is not entered into for
purposes of circumventing or avoiding the collateral requirements of this Agreement), in each case only for so long as the granting of a security interest therein (x) would be prohibited by, cause a default under or result in a breach of such
Contract (unless the Borrower or any Controlled Subsidiary may unilaterally waive it) or would give another Person (other than the Borrower or any Controlled Subsidiary) a right to terminate or accelerate the obligations under such Contract or to
obtain a Lien to secure obligations owing to such Person (other than the Borrower or any Controlled Subsidiary) under such Contract (in each case, except to the extent any such prohibition is unenforceable after giving effect to applicable
anti-assignment provisions of the UCC) or (y) would require obtaining the consent of any Person (other than the Borrower or any Controlled Subsidiary) or applicable Governmental Authority, except to the extent that such consent has already been
obtained or (ii) any asset the granting of a security interest therein in favor of the Secured Parties would be prohibited by any applicable Requirement of Law (other than any Organizational Document) (except to the extent such prohibition is
unenforceable after giving effect to applicable anti-assignment provisions of the UCC, other than proceeds thereof, the assignment of which is expressly deemed effective under the UCC notwithstanding such prohibitions), 

(d) those assets with respect to which, in the reasonable judgment of the Administrative Agent and the Borrower, the costs of obtaining or
perfecting such a security interest are excessive in relation to the benefits to be obtained by the Secured Parties therefrom or would result in materially adverse tax consequences to the Borrower or its Subsidiaries as reasonably determined by the
Borrower in consultation with the Administrative Agent, 
 (e) any Letter of Credit Rights (as defined in the UCC) (other than to the extent
a Lien thereon can be perfected by filing a customary financing statement), 
 (f) any right, title or interest in Receivables Assets sold,
pledged or financed pursuant to a Permitted Securitization Program, and all of a Subsidiary’s and any Loan Party’s rights, interests and claims under a Permitted Securitization Program, 

(g) any real property and leasehold rights and interests in real property other than Material Real Property, 

  
 18 

 (h) any
“intent-to-use” application for registration of a Trademark (as defined in the Security Agreement) filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C.
§ 1051, prior to the filing and acceptance of a “Statement of Use” pursuant to Section 1(d) of the Lanham Act or an “Amendment to Allege Use” pursuant to Section 1(c) of the Lanham Act with respect thereto, and 

(i) (i) any Equity Interests set forth on Schedule 1.01(c), (ii) any Equity Interest that is Voting Stock of a first-tier Foreign
Subsidiary or FSHCO in excess of 65% of the Voting Stock of such Subsidiary, (iii) any Equity Interests in Gibraltar Holdings, Peabody International Investments, Inc., Peabody International Holdings, LLC and each other Subsidiary, whether now
owned or hereafter acquired, substantially all of the assets of which consist of Equity Interests in Gibraltar Holdings and any successor to any of the foregoing, (iv) any Equity Interests of captive insurance subsidiaries and not-for-profit subsidiaries, (v) any Equity Interests in, or assets of, any Special Purpose Receivables Subsidiary (to the extent a pledge of the Equity Interests in such
Special Purpose Receivables Subsidiary is prohibited under any Permitted Securitization Program entered into by such Special Purpose Receivables Subsidiary), (vi) margin stock and (vii) any Equity Interests in any Subsidiary that is not
wholly-owned by the Borrower or any Restricted Subsidiary or in a Joint Venture, if the granting of a security interest therein (A) would be prohibited by, cause a default under or result in a breach of, or would give another Person (other than
the Borrower or any Controlled Subsidiary) a right to terminate, under any Organizational Document, shareholders, joint venture or similar agreement applicable to such Subsidiary or Joint Venture or (B) would require obtaining the consent of
any Person (other than the Borrower or any Controlled Subsidiary); provided that 65% of the voting Equity Interests and 100% of the non-voting Equity Interests in Peabody Investments (Gibraltar) Limited
(or any successor thereto) shall not constitute Excluded Assets; 
 provided that the Collateral shall include the replacements, substitutions and
proceeds of any of the foregoing unless such replacements, substitutions or proceeds also constitute Excluded Assets. 
 “Excluded
Hedging Obligation” means, with respect to any Guarantor, (a) as it relates to all or a portion of the Guarantee of such Guarantor of Hedging Obligations, any Hedging Obligation if, and to the extent that, such Hedging Obligation (or
any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such
Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act and the regulations thereunder at the time the Guarantee of such Guarantor becomes effective with respect to
such Hedging Obligation or (b) as it relates to all or a portion of the grant by such Guarantor of a security interest to secure any Hedging Obligation (or secure any Guarantee in respect thereof), any Hedging Obligation if, and to the extent
that, the grant by such Guarantor of a security interest to secure such Hedging Obligation (or secure any Guarantee in respect thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures
Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act and the
regulations thereunder at the time the grant of 

  
 19 

 
such security interest becomes effective with respect to such Hedging Obligation. If a Hedging Obligation arises under a master agreement governing more than one swap, such exclusion shall apply
only to the portion of such Hedging Obligation that is attributable to swaps for which such Guarantee or security interest is or becomes illegal. As used in this definition, “Hedging Obligation” shall mean, with respect to any
Guarantor, any obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act. 

“Excluded Taxes” means, with respect to the Administrative Agent, any Lender or any other recipient of any payment to be made
by or on account of any obligation of the Borrower hereunder, (a) branch profits taxes or taxes imposed on or measured by its overall net income (however denominated), and franchise taxes imposed on it (in lieu of net income taxes), in each
case imposed (i) as a result of the Administrative Agent or such Lender (or such other recipient) being organized under the laws of, or having its principal office in or, in the case of any Lender, its applicable lending office located in, the
jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) other than in the case of an assignee pursuant to a request by the Borrower under Section 10.13,
any United States federal withholding tax that is imposed on amounts payable to a Lender under the law applicable at the time such Lender acquires an interest in a Loan or Commitment (or designates a new Lending Office), except to the extent that
such Lender (or its assignor, if any) was entitled, at the time of the designation of a new Lending Office (or assignment) to receive additional amounts from the applicable Loan Party with respect to such withholding tax pursuant to Section
3.01(a), (c) Taxes attributable to such Lender’s failure or inability to comply with Section 3.01(e) and (d) any taxes imposed under FATCA. 

“Existing Credit Agreement” means that certain Credit Agreement, dated September 24, 2013, by and among the Borrower,
Citibank, N.A., as administrative agent, and the lenders party thereto (as amended by that certain Omnibus Amendment, dated as of February 5, 2015 and as otherwise amended, restated, supplemented or otherwise modified). 

“Existing Securitization Facility” means the accounts receivable securitization financing of P&L Receivables Company LLC
existing as of the Closing Date, and any replacements, refinancings, amendments, restatements, renewals or extensions thereof, subject in each case to the restrictions set forth in the definition of Permitted Securitization Programs. 

“Exit” has the meaning specified in the preliminary statements to this Agreement. 

“Facility” means the Term Loan Facility, any Incremental Facility and/or any Refinancing Facility, as the context may
require. 
 “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or
successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code and any
laws implementing an intergovernmental agreement with respect to the foregoing. 

  
 20 

 “Federal Funds Rate” means, for any day, the rate per annum equal to the
weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding
such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and
(b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to the Administrative Agent on
such day on such transactions as determined by the Administrative Agent. 
 “Fee Letters” means, collectively,
(a) that certain Fee Letter, dated January 11, 2017, among the Borrower, Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A., Credit Suisse Securities (USA) LLC, Credit Suisse AG, Cayman Islands Branch, Macquarie Capital (USA) Inc. and
Macquarie Capital Funding LLC and (b) that certain Structuring Fee Letter, dated January 11, 2017, among the Borrower and Goldman Sachs Bank USA. 

“Finance Parties” has the meaning specified in Section 4.01(l). 

“Financing Lease” means any lease of property, real or personal, the obligations of the lessee in respect of which are
required in accordance with GAAP to be capitalized on a balance sheet of the lessee; provided that, any operating lease that is required to be treated as a capital lease in accordance with GAAP as a result of any Accounting Change shall not
be deemed a Financing Lease for purposes of this Agreement. 
 “Financing Transactions” means, collectively, (a) the
Refinancing, (b) the incurrence of the Loans under the Loan Documents, (c) the issuance of the Priority Lien Notes (and the assumption by the Borrower of the obligations thereunder), (d) the incurrence of any Permitted Securitization
Program and (e) the payment of the fees and expenses incurred in connection with any of the foregoing clauses (a)-(d) hereof. 

“First Lien Leverage Ratio” means, as of any date of determination, the ratio of (i) Consolidated Net Total Debt (other
than any portion of Consolidated Net Total Debt that is unsecured or is secured solely by a Lien that is junior to the Liens securing the Obligations) as of the date of the financial statements most recently delivered by the Borrower pursuant to
Section 6.01(a) or (b), as applicable, to (ii) Consolidated EBITDA for the period of the four consecutive fiscal quarters ending as of the date of such financial statements. 

“First Priority” means, with respect to any Lien purported to be created in any Collateral pursuant to any Security Document,
that such Lien ranks first in priority to all other Liens, other than Liens permitted under clauses (b), (c), (d), (e), (f)(i), (f)(ii), (g), (p), (s), (t) (solely to the extent such Lien is pari passu with the Liens securing the Obligations
and is subject to the Collateral Trust Agreement), (w) (solely to the extent such Lien is pari passu with the Liens securing the Obligations and is subject to the Collateral Trust Agreement) and (z) (solely with respect to any ABL Priority
Collateral) of Section 7.01. 

  
 21 

 “Foreign Lender” means any Lender that is not a “United States Person”
as defined in Section 7701(a)(30) of the Code. 
 “Foreign Plan” means any employee benefit plan, program, policy,
arrangement or agreement maintained or contributed to by any Loan Party or any of their respective Subsidiaries with respect to employees employed outside the United States and paid through a non-United States
payroll. 
 “Foreign Plan Event” means, with respect to any Foreign Plan, (a) the existence of unfunded liabilities in
excess of the amount permitted under any applicable law, or in excess of the amount that would be permitted absent a waiver from a Governmental Authority, (b) the failure to make the required contributions or payments, under any applicable law,
within the time permitted by Law for such contributions or payments, (c) the receipt of a notice from a Governmental Authority relating to the intention to terminate any such Foreign Plan or to appoint a trustee or similar official to
administer any such Foreign Plan, or alleging the insolvency of any such Foreign Plan, (d) the incurrence of any liability by any Loan Party under applicable law on account of the complete or partial termination of such Foreign Plan or the
complete or partial withdrawal of any participating employer therein, in each case, which could reasonably be expected to have a Material Adverse Effect, or (e) the occurrence of any transaction with respect to a Foreign Plan that is prohibited
under any applicable law and that could reasonably be expected to result in the incurrence of any liability by any Loan Party, or the imposition on any Loan Party of any fine, excise tax or penalty with respect to a Foreign Plan resulting from any
noncompliance with any applicable law, in each case which could reasonably be expected to have a Material Adverse Effect. 

“Foreign Subsidiary” means a Subsidiary that is organized under the laws of a jurisdiction other than the United States or
any State thereof or the District of Columbia and any Subsidiary thereof. 
 “FRB” means the Board of Governors of the
Federal Reserve System of the United States. 
 “FSHCO” means any Domestic Subsidiary formed or acquired on or after the
Closing Date substantially all of the assets of which consist of the Equity Interests of one or more Foreign Subsidiaries. 

“Fund” means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or
otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business. 
 “GAAP”
means generally accepted accounting principles, which are applicable to the circumstances as of the date of determination. The sources of accounting principles and the framework for selecting the principles used in the preparation of financial
statements of nongovernmental entities that are presented in conformity with GAAP in the United States, are set forth in the Financial Accounting Standards Board’s Accounting Standards Codification. 

  
 22 

 “Gibraltar Holdings” means Peabody Holdings (Gibraltar) Limited, or any
successor entity that directly holds the Capital Stock of Peabody Investments (Gibraltar) Limited. 
 “Gibraltar Pledge
Agreement” means the Share Charge, dated as of the Closing Date, between Gibraltar Holdings, Peabody Investments (Gibraltar) Limited and the Collateral Trustee. 

“Governmental Authority” means the government of the United States or any other nation, or any political subdivision thereof,
whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to
government (including any supra-national bodies such as the European Union or the European Central Bank). 
 “Guarantee”
means, as to any Person (the “guaranteeing person”), any obligation of (a) the guaranteeing person or (b) another Person (including, without limitation, any bank under any letter of credit) to the extent the guaranteeing person
has issued a reimbursement, counterindemnity or similar obligation in order to induce the creation of such obligation, in either case guaranteeing or in effect guaranteeing any Indebtedness, leases, dividends or other obligations (the “primary
obligations”) of any other third Person (the “primary obligor”) in any manner, whether directly or indirectly, including, without limitation, reimbursement obligations under letters of credit and any obligation of the guaranteeing
person, whether or not contingent, (i) to purchase any such primary obligation or any property constituting direct or indirect security therefor, (ii) to advance or supply funds (A) for the purchase or payment of any such primary
obligation or (B) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (iii) to purchase property, securities or services primarily for the purpose
of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation or (iv) otherwise to assure or hold harmless the owner of any such primary obligation against loss in respect
thereof; provided, however, that the term Guarantee obligation shall not include (i) indemnification or reimbursement obligations under or in respect of Surety Bonds or Designated Letters of Credit, (ii) ordinary course
performance guarantees by any Loan Party of the obligations (other than for the payment of borrowed money) of any other Loan Party and (iii) endorsements of instruments for deposit or collection in the ordinary course of business. The amount of
any Guarantee obligation of any guaranteeing person shall be deemed to be the lower of (a) an amount equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee obligation is made and (b) the
maximum amount for which such guaranteeing person may be liable pursuant to the terms of the instrument embodying such Guarantee obligation, unless such primary obligation and the maximum amount for which such guaranteeing person may be liable are
not stated or determinable, in which case the amount of such Guarantee obligation shall be such guaranteeing person’s maximum reasonably anticipated liability in respect thereof as determined by the Borrower in good faith. The term
“Guarantee” as a verb has a corresponding meaning. 
 “Guarantors” means any Restricted Subsidiary that is a
Domestic Subsidiary (other than those entities to be merged, dissolved or consolidated in connection with the Permitted Restructuring Transactions within thirty (30) days following the Closing Date) and each other Subsidiary, whether now owned
or hereafter formed or acquired, that directly holds Equity 

  
 23 

 
Interests in Gibraltar Holdings at any time; provided, that such term shall not include (a) any Subsidiary not wholly-owned, directly or indirectly, by the Borrower to the extent (but
only so long as) it is prohibited by the terms of any Contractual Obligation (including pursuant to any Organizational Documents of such Subsidiary) from guaranteeing the Secured Obligations or any other obligations or liabilities guaranteed
pursuant to the terms of the Guaranty (it being understood that, for purposes of this definition, the terms of any Contractual Obligation shall be deemed to prohibit such Guarantee if it would constitute a breach or default under or result in the
termination of or require the consent of any Person (other than the Borrower or any Controlled Subsidiary, or the Administrative Agent or the Lenders in their respective capacities as such) under the security, agreement, instrument or other
undertaking giving rise to such Contractual Obligation); provided further, that such Contractual Obligation is not and was not created in contemplation of this definition, (b) any FSHCO, (c) any Domestic Subsidiary that is a
Subsidiary of any Foreign Subsidiary; provided, however, that clauses (b) and (c) shall not apply to any Subsidiary, whether now owned or hereafter formed or acquired, that directly holds Equity Interests in Gibraltar Holdings or (d) any
Special Purpose Receivables Subsidiaries and captive insurance entities. The Guarantors as of the Closing Date are the Subsidiaries of the Borrower listed on Schedule 1.01(a). For the avoidance of doubt, no Foreign Subsidiary now owned or
hereafter formed or acquired (including Gibraltar Holdings) shall be a Guarantor. 
 “Guaranty” means that certain
Guarantee of the Secured Obligations made by the Guarantors in favor of the Administrative Agent and the Secured Parties, substantially in the form of Exhibit F, including any supplement, accession, assumption or joinder thereto. 

“Hazardous Materials” means (i) any explosive or radioactive substances or wastes and (ii) any hazardous or toxic
substances, materials or wastes, defined or regulated as such in or under, or that could reasonably be expected to give rise to liability under, any applicable Environmental Law, including, without limitation, asbestos, polychlorinated biphenyls,
urea-formaldehyde insulation, gasoline or petroleum (including crude oil or any fraction thereof) or petroleum products or any coal ash, coal combustion by-products or waste, boiler slag, scrubber residue or
flue desulphurization residue. 
 “Hedge Bank” has the meaning specified in the definition of “Secured Hedging
Agreement”. 
 “Hedging Agreement” means (i) any interest rate swap agreement, interest rate cap agreement,
interest rate future agreement, interest rate collar agreement, interest rate hedge agreement or other similar agreement or arrangement designed to protect against or mitigate interest rate risk, (ii) any foreign exchange forward contract,
currency swap agreement, futures contract, option contract, synthetic cap or other agreement or arrangement designed to protect against or mitigate foreign exchange risk or (iii) any commodity or raw material, including coal, futures contract,
commodity hedge agreement, option agreement, any actual or synthetic forward sale contract or other similar device or instrument or any other agreement designed to protect against or mitigate raw material price risk (which shall for the avoidance of
doubt include any forward purchase and sale of coal for which full or partial payment is required or received). 
 “Hedging
Obligations” means all debts, liabilities and obligations of the Borrower or any Restricted Subsidiary in respect of any Hedging Agreement. 

  
 24 

 “Hedging Termination Value” means, in respect of any one or more Hedging
Agreement, after taking into account the effect of any valid netting agreement relating to such Hedging Agreements, (a) for any date on or after the date such Hedging Agreements have been closed out and termination value(s) determined in
accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market
value(s) for such Hedging Agreements, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Hedging Agreements (which may include a
Lender, the Administrative Agent or any Affiliate of a Lender or the Administrative Agent) (it being understood that any such termination values and marked-to-market
values shall take into account any assets posted as collateral or security for the benefit of a party to the Hedging Agreement). 

“Highest Lawful Rate” means the maximum lawful interest rate, if any, that at any time or from time to time may be contracted
for, charged, or received under the laws applicable to any Lender which are presently in effect or, to the extent allowed by law, under such applicable laws which may hereafter be in effect and which allow a higher maximum nonusurious interest rate
than applicable laws now allow. 
 “Incremental Debt” means, at any time, all Incremental Notes and Incremental Facilities
outstanding. 
 “Incremental Debt Cap” means, as determined with respect to any Incremental Debt to be incurred, an amount
equal to the sum of (a) $300,000,000 and (b) (i) if such Incremental Debt is (or is intended to be) secured by the Collateral on a pari passu basis, an additional amount if, after giving effect to the incurrence of such Incremental Debt
and any acquisition consummated in connection therewith, the First Lien Leverage Ratio is equal to or less than 1.75 to 1.00 on a Pro Forma Basis and (ii) if such Incremental Debt is secured by the Collateral on a junior-lien basis or
unsecured, an additional amount if, after giving effect to the incurrence of such Incremental Debt and any acquisition consummated in connection therewith, the Total Leverage Ratio is equal to or less than 2.50:1.00 on a Pro Forma Basis. 

“Incremental Facility” has the meaning specified in Section 2.15(a). 

“Incremental Facility Effective Date” has the meaning specified in Section 2.15(c). 

“Incremental Facility Request” has the meaning specified in Section 2.15(a). 

“Incremental Lender” means any Person who provides an Incremental Facility in respect of a term loan hereunder. 

“Incremental Loan” means, with respect to any Incremental Facility, an advance made by any Incremental Lender under such
Incremental Facility. 
 “Incremental Notes” has the meaning specified in Section 7.03(m). 

  
 25 

 “Indebtedness” means, as to any Person at a particular time, without
duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP: 

(a)    all obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds,
debentures, notes, loan agreements or other similar instruments (other than any obligations in respect of performance bonds bid bonds, appeal bonds, surety bonds, reclamation bonds and completion guarantees, bank guarantees and similar obligations
under any Mining Law or Environmental Law or with respect to worker’s compensation benefits); 
 (b)    all
obligations of such Person arising under letters of credit, bankers’ acceptances or similar instruments issued for the account of such Person (solely to the extent such letters of credit, bankers’ acceptances or other similar instruments
have been drawn and remain unreimbursed); 
 (c)    net obligations of such Person under any Hedging Agreement; 

(d)    all obligations of such Person to pay the deferred purchase price of property or services (other than
(i) trade accounts payable and accrued expenses incurred in the ordinary course of business, (ii) obligations under federal coal leases, (iii) obligations under coal leases which may be terminated at the discretion of the lessee and
(iv) obligations for take-or-pay arrangements); 

(e)    indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such
Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse; 

(f)    Capital Lease Obligations (other than obligations in connection with the IRBs); and 

(g)    all Guarantees of such Person in respect of any of the foregoing Indebtedness of any other Person (but excluding
any performance and completion Guarantees of such Person); 
 provided that in no event shall Indebtedness include (i) asset retirement
obligations or (ii) obligations (other than obligations with respect to Indebtedness for borrowed money or other Indebtedness evidenced by loan agreements, bonds, notes or debentures or similar instruments or letters of credit (solely to the
extent such letters of credit or other similar instruments have been drawn and remain unreimbursed) (or, without duplication, reimbursement agreements in respect thereof)) related to surface rights under an agreement for the acquisition of surface
rights for the production of coal reserves in the ordinary course of business in a manner consistent with historical practice of the Borrower and its Subsidiaries. 

The amount of any net obligation under any Hedging Agreement on any date shall be deemed to be the Hedging Termination Value thereof as of
such date. The amount of any Indebtedness issued with original issue discount shall be deemed to be the face amount of such Indebtedness less the remaining unamortized portion of the original issue discount of such Indebtedness. The amount of any
Capital Lease Obligation as of any date shall be deemed to be the amount of Attributable Indebtedness in respect thereof as of such date. The amount of any indebtedness of a Joint Venture secured by a Lien on property owned or being purchased by the

  
 26 

 
Borrower or its Restricted Subsidiaries as of any date shall be deemed to be the lower of (a) an amount equal to the stated or determinable amount of the indebtedness that is secured by such
Lien and (b) the maximum amount for which the Borrower or its Restricted Subsidiaries may be liable (which may be determined with reference to the fair market value of the property securing such indebtedness as reasonably determined by the
Borrower in good faith) pursuant to the terms of such indebtedness. Except as set forth in the sentence immediately above, the amount of indebtedness of any Joint Venture, which is attributable to the Borrower or any Restricted Subsidiary shall be
deemed to equal the amount of indebtedness that would be attributable to the Borrower or any Restricted Subsidiary in accordance with GAAP. 

“Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on
account of any obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes. 

“Indemnitees” has the meaning specified in Section 10.04(b). 

“Information” has the meaning specified in Section 10.07. 

“Intercreditor Agreements” means each of the (a) Collateral Trust Agreement and (b) any ABL Intercreditor
Agreement. 
 “Interest Payment Date” means, (a) as to any Eurocurrency Rate Loan, the last day of each Interest
Period applicable to such Loan and the Maturity Date; provided, however, that if any Interest Period exceeds three months, the respective dates that fall every three months after the beginning of such Interest Period shall also be
Interest Payment Dates and (b) as to any Base Rate Loan, the last Business Day of each March, June, September and December and the Maturity Date. 

“Interest Period” means, as to each Eurocurrency Rate Loan, the period commencing on the date such Eurocurrency Rate Loan is
disbursed or converted to or continued as a Eurocurrency Rate Loan and ending on the date one, two, three or six months thereafter, or, if available to all Lenders making such Eurocurrency Rate Loan, twelve months thereafter, as selected by the
Borrower in its Borrowing Notice, or, as otherwise contemplated by the first proviso of Section 2.02(a); provided that: 

(i)    any Interest Period that would otherwise end on a day that is not a Business Day shall be extended to the next
succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the immediately preceding Business Day; 

(ii)    any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no
numerically corresponding day in the calendar month at the end of such Interest Period) shall, subject to clause (iii) below, end on the last Business Day of a calendar month; and 

(iii)    with respect to each Facility, no Interest Period shall extend beyond its applicable Maturity Date. 

  
 27 

 “Interest Rate Determination Date” means, with respect to any Interest Period,
the date that is two Business Days prior to the first day of such Interest Period. 
 “Internally Generated Cash” means,
with respect to any period, any cash of the Borrower or any Restricted Subsidiary generated during such period, excluding Net Proceeds, Net Insurance/Condemnation Proceeds and any cash that is generated from an incurrence of Indebtedness, an
issuance of Equity Interests or a capital contribution. 
 “Investment” means, as to any Person, any direct or indirect
acquisition or investment by such Person, whether by means of (a) the purchase or other acquisition of Capital Stock or other securities of another Person, (b) a loan, advance (excluding intercompany liabilities incurred in the ordinary
course of business in connection with the cash management operations of the Borrower and its Subsidiaries) or capital contribution to, or purchase or other acquisition of any other debt or equity participation or interest in, another Person,
including any partnership or joint venture interest in such other Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person that constitute a business unit. For purposes of
covenant compliance, the amount of any Investment shall be (i) the amount actually invested, as determined immediately prior to the time of each such Investment, without adjustment for subsequent increases or decreases in the value of such
Investment minus (ii) the amount of dividends or distributions received in connection with such Investment and any return of capital and any payment of principal received in respect of such Investment that in each case is received in
cash or Cash Equivalents. 
 “IP Rights” has the meaning specified in Section 5.18. 

“IP Security Agreements” means the Copyright Security Agreement, the Trademark Security Agreement and the Patent Security
Agreement. 
 “IRBs” means the City of St. Louis, Missouri Taxable Industrial Development Revenue Bonds (Peabody Energy
Corporation Project), Series 2010, in an aggregate principal amount not to exceed $60,000,000, as evidenced by that certain Trust Indenture, dated as of March 1, 2011, between the City of St. Louis, Missouri and U.S. Bank, National Association,
St. Louis, Missouri. 
 “IRS” means the United States Internal Revenue Service. 

“Joint Venture” means any Person (a) other than a Subsidiary in which the Borrower or its Subsidiaries hold an ownership
interest or (b) which is an unincorporated joint venture of the Borrower or any Subsidiary; provided, however, that Middlemount Coal Pty Ltd shall be considered a Joint Venture for this definition. 

“Junior Collateral Trustee” means Wilmington Trust, National Association, in its capacity as Junior Collateral Trustee
pursuant to the Collateral Trust Agreement, together with its successors and assigns in such capacity. 

  
 28 

 “Junior Lien Indebtedness” means any Indebtedness (other than any ABL Facility)
that is secured by a junior Lien to the Lien securing the Secured Obligations and that was permitted to be incurred and so secured hereunder. 

“Laws” means, as to any Person, collectively, all international, foreign, Federal, state and local statutes, treaties, rules,
regulations, ordinances, codes, and determinations of arbitrators or courts or other Governmental Authorities, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject.

 “Lender” has the meaning specified in the introductory paragraph hereto and includes any (a) Incremental Lender and
(b) Refinancing Facility Lender. 
 “Lending Office” means, as to any Lender, the office or offices of such Lender
described as such in such Lender’s Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Borrower and the Administrative Agent. 

“Lien” means any mortgage, deed of trust, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien
(statutory or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement,
any easement, right of way or other encumbrance on title to real property, and any Financing Lease having substantially the same economic effect as any of the foregoing). 

“Loan” means an extension of credit by a Lender to the Borrower under Article II in the form of a Term Loan,
Incremental Loan or Refinancing Loan. 
 “Loan Documents” means this Agreement, the Collateral Trust Agreement, each Note,
the Fee Letters, the Guaranty, each Security Document and any ABL Intercreditor Agreement. 
 “Loan Parties” means,
collectively, the Borrower and each Guarantor. 
 “Material Adverse Effect” means a material adverse effect upon
(a) the business, assets, operations, property or condition (financial or otherwise) of the Borrower and its Restricted Subsidiaries taken as a whole, (b) the ability of the Borrower and the Guarantors, taken as a whole, to perform their
payment obligations under this Agreement or the Guaranty or (c) the validity or enforceability of this or any of the other Loan Documents or the rights or remedies of the Agents, the Collateral Trustee, the Arrangers or the Lenders hereunder or
thereunder. 
 “Material Real Property” means (a) any fee owned real property interest held by a Loan Party in an
active Mine or any leasehold interest in real property of a Loan Party in an active Mine, (b) any real property owned by a Loan Party or in which a Loan Party has a leasehold interest located on a Reserve Area on the Closing Date that has a net
book value in excess of $10,000,000, (c) any real property acquired or otherwise owned by a Loan Party or in which a Loan Party acquires a leasehold interest after the Closing Date located on a Reserve Area that has a total net book value in excess
of $25,000,000 and (d) any other fee owned real property interest held by a Loan Party (other than the types of property described in clauses (a) through (c) above) with a total net book value in excess of $10,000,000 as of
the date of acquisition of 

  
 29 

 
such real property; provided that Material Real Property shall not include (x) any real property that is identified on Schedule 1.01(d) or (y) any leasehold interests of a
Loan Party in commercial real property constituting offices of the Borrower and its Subsidiaries; provided further that, any future coal reserve or access to a coal reserve (1) that is fee owned by a Loan Party or in which a Loan
Party has a leasehold interest and (2) that is located adjacent to, contiguous with, or in close proximity to, both geographically and geologically (according to reasonable standards used in the mining industry) an active Mine or Reserve Area,
may, in the reasonable discretion of the Administrative Agent (in consultation with the Borrower), be deemed part of an active Mine or Reserve Area and, as a result, a “Material Real Property” in the future. 

“Maturity Date” means March 31, 2022 (and, with respect to term loans pursuant to an Incremental Facility or Refinancing
Facility, the date on which such term loans shall become due and payable in full hereunder, as specified in the applicable joinder agreement or amendment hereto); provided, however, that, if such date is not a Business Day, the
Maturity Date shall be the preceding Business Day. 
 “MEPP Claim” means, collectively, the claims of the United Mine
Workers of America 1974 Pension Plan, including (a) proof of claim number 4722 and (b) any other claim related to any withdrawal liability under U.S.C. § 1392(c). 

“Metropolitan Collieries Disposition” means the sale of substantially all of the assets of (or all of the Equity Interests
of) Metropolitan Collieries Pty Ltd to the extent permitted by Section 7.05. 
 “Mine” means any excavation or opening
into the earth in the United States now and hereafter made from which coal or other minerals are or can be extracted on or from any of the real properties in which any Loan Party holds an ownership, leasehold or other interest. 

“Minimum Cash Balance” means at least $600,000,000 in Unrestricted Cash on hand of the Borrower and its Restricted
Subsidiaries on the effective date of the Plan of Reorganization after giving effect to any distributions paid to certain holders of claims in accordance with the Plan of Reorganization on the Closing Date. 

“Moody’s” means Moody’s Investors Service, Inc. and any successor thereto. 

“Mortgage” means any mortgages, deeds of trust or similar document (including any fixture filings whether recorded as part of
such mortgages or deeds of trust or as separate instruments to the extent necessary in any particular state), substantially in the form of Exhibit J or any such other form reasonably acceptable to the Administrative Agent and the Borrower.

 “Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the
Borrower or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions. 

  
 30 

 “Net Insurance/Condemnation Proceeds” means an amount equal to: (i) any
cash payments or proceeds received by the Borrower or any of its Restricted Subsidiaries (a) under any casualty insurance policy in respect of a covered loss thereunder or (b) as a result of the taking of any assets of the Borrower or any
of its Restricted Subsidiaries by any Person pursuant to the power of eminent domain, condemnation or otherwise, or pursuant to a sale of any such assets to a purchaser with such power under threat of such a taking, minus (ii) (a) any
actual and reasonable costs incurred by the Borrower or any of its Restricted Subsidiaries in connection with the adjustment or settlement of any claims of the Borrower or such Restricted Subsidiary in respect thereof, and (b) any bona fide
direct costs incurred in connection with any sale of such assets as referred to in clause (i)(b) of this definition, including income taxes payable as a result of any gain recognized in connection therewith. 

“Net Proceeds” means, with respect to any Disposition pursuant to Sections 7.05(c), 7.05(k), 7.05(l) and
7.05(q), the sum of (a) cash and Cash Equivalents actually received by the Borrower or any Restricted Subsidiary in connection with such Disposition (including any cash received by way of deferred payment (excluding, for avoidance of
doubt, royalty payments customary in the mining industry) pursuant to, or by monetization of, a note receivable or otherwise, but only as and when so received) minus (b) solely with respect to Dispositions of assets not constituting
Collateral, the sum of (i) (A) the principal amount, premium or penalty, if any, interest and other amounts of any Indebtedness that is secured by such asset and that is required to be repaid in connection with such Disposition (other than
Indebtedness under the Loan Documents) or (B) any other required debt payments or required payments of other obligations relating to the Disposition, in each case, with the proceeds thereof, (ii) the reasonable or customary out-of-pocket fees and expenses incurred by the Borrower or its Restricted Subsidiaries in connection with such Disposition (including attorneys’ fees, accountants’
fees, investment banking fees, real property related fees and charges and brokerage and consultant fees), (iii) all Taxes required to be paid or accrued or reasonably estimated to be required to be paid or accrued as a result thereof, (iv) in
the case of any Disposition by a non-wholly-owned Restricted Subsidiary or non-wholly-owned Unrestricted Subsidiary, the pro rata portion of the Net Proceeds thereof
(calculated without regard to this clause (iv)) attributable to minority or other third party interests and not available for distribution to or for the account of the Borrower or a wholly-owned Restricted Subsidiary as a result thereof and
(v) the amount of any reasonable reserve established in accordance with GAAP against any adjustment to the sale price or any liabilities (x) related to any of the applicable assets and (y) retained by the Borrower or any Subsidiary
including, without limitation, pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations (however, the amount of any subsequent reduction of such reserve (other
than in connection with a payment in respect of any such liability) shall be deemed to be Net Proceeds of such Disposition occurring on the date of such reduction). 

“Non-Recourse Debt” means Indebtedness (a) as to which neither the Borrower nor
any of its Restricted Subsidiaries (i) provides credit support of any kind (including any undertaking, agreement or instrument that would constitute Indebtedness) other than a non-recourse pledge of the
Equity Interests of any Unrestricted Subsidiary to the extent such Equity Interests do not constitute Collateral, (ii) is directly or indirectly liable (as a guarantor or otherwise) other than by virtue of a
non-recourse pledge of the Equity Interests of any Unrestricted Subsidiary to the 

  
 31 

 
extent such Equity Interests do not constitute Collateral, or (iii) constitutes the lender; (b) no default with respect to which (including any rights that the holders thereof may have
to take enforcement action against any Unrestricted Subsidiary) would permit (upon notice, lapse of time or both) any holder of any other Indebtedness (other than the Obligations) of the Borrower or any of its Restricted Subsidiaries to declare a
default on such other Indebtedness or cause the payment thereof to be accelerated or payable prior to its stated maturity; and (c) as to which the lenders thereunder will not have any recourse to the Capital Stock or assets of the Borrower or
any of its Restricted Subsidiaries (other than solely the Equity Interests of any Unrestricted Subsidiary to the extent such Equity Interests do not constitute Collateral). 

“Note” means a promissory note made by the Borrower in favor of a Lender and its registered assigns evidencing Term Loans
made by such Lender, substantially in the form of Exhibit C. 
 “Obligations” means all advances
to, and debts, liabilities and obligations (other than, for the avoidance of doubt, Hedging Obligations) of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan, whether direct or indirect (including those acquired
by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party or any Affiliate thereof of any proceeding under any
Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding. 

“Open Market Purchase” has the meaning specified in Section 2.20(a). 

“Organizational Documents” means, (a) with respect to any corporation, the certificate or articles of incorporation and
the bylaws (or equivalent or comparable constitutive documents with respect to any non-US jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or
organization and operating agreement; and (c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any agreement,
instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles
of formation or organization of such entity. 
 “Other Connection Taxes” means with respect to the Administrative Agent,
any Lender, or any other recipient of any payment to be made by or on account of any obligation of the Borrower hereunder, Taxes imposed as a result of a present or former connection between such party and the jurisdiction imposing such Tax (other
than connections arising solely from the Administrative Agent or such Lender or such other recipient having executed, delivered, become a party to, or performed its obligations or received a payment under, or enforced, received or perfected a
security interest under, or engaged in any other transaction pursuant to this Agreement, any Note or any other Loan Document, or sold or assigned an interest in any Loan or Loan Document). 

  
 32 

 “Other Taxes” means all present or future stamp, court, intangible, recording,
filing, or documentary taxes or any other similar Taxes arising from any payment made hereunder or under any other Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other Loan
Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment pursuant to Section 10.13). 

“Outstanding Amount” means with respect to Term Loans, Incremental Loans and Refinancing Loans, as the context may require,
on any date, the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of such Term Loans, Incremental Loans or Refinancing Loans, as applicable, occurring on such date. 

“Overnight Rate” means, for any day, the greater of (a) the Federal Funds Rate in the case of any amount denominated in
Dollars and (b) an overnight rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. 

“Participant” has the meaning specified in Section 10.06(d). 

“Participant Register” has the meaning specified in Section 10.06(d). 

“Patent Security Agreement” means the Patent Security Agreement, substantially in the form attached to the Security Agreement
or such other form reasonably acceptable to the Administrative Agent and the Borrower, by certain Loan Parties in favor of the Collateral Trustee, for the benefit of the Secured Parties. 

“PATRIOT Act” has the meaning specified in Section 5.17. 

“Payment in Full” means, the time at which no Lender shall have any Commitments, any Loan or other Obligations unpaid,
unsatisfied or outstanding (other than in respect of contingent obligations, indemnities and expenses related thereto that are not then payable or in existence). 

“PBGC” means the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA, or any
successor thereto. 
 “Pension Plan” means any “employee pension benefit plan” (as such term is defined in
Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by the Borrower or any ERISA Affiliate or to which the Borrower or any ERISA Affiliate contributes or has an obligation
to contribute, or in the case of a plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five plan years. 

“Permitted Acquisition” means any acquisition of all or substantially all the assets of, or all of the Equity Interests in,
or merger, consolidation or amalgamation with, a Person or division or line of business of a Person, solely to the extent permitted as an Investment under Section 7.02. 

“Permitted Amendments” means, with respect to any Facility, an extension of the maturity date of any Loan and/or any
Commitments in respect of such Facility by the Accepting 

  
 33 

 
Lenders and, in connection therewith, (a) any change in the Applicable Rate with respect to the applicable Loans and/or Commitments of the Accepting Lenders and/or the payment of additional
fees (including rate floor, OID, upfront fees or other fees) to the Accepting Lenders (such change and/or payments to be in the form of cash, Equity Interests or other property as agreed by the Borrower and the Accepting Lenders to the extent not
prohibited by this Agreement, excluding Section 2.13), (b) the repayment in full on the maturity date of such Facility of the non-extended Loans thereunder and other amounts owing to
each of the Lenders who are not Accepting Lenders, (c) any change in the amortization schedule and any prepayment premiums with respect to the applicable Loans of the Accepting Lenders, so long as a weighted average life of the extended Loans
is no shorter than that of the Term Loans under such Facility prior to such extension, (d) no repayment of any extended Loans shall be permitted unless such repayment is accompanied by an at least pro rata repayment of all earlier maturing
Loans (including previously extended Loans) (or all earlier maturing Loans shall otherwise be or have been terminated and repaid in full) and (e) any other change in terms from the Facility so long as (i) they apply after the non-extended maturity date of such Facility or (ii) the non-Accepting Lenders receive the benefit of any such terms that are more restrictive to the Borrower and its
Restricted Subsidiaries (it being understood that the benefit of such more restrictive terms may be provided to the non-Accepting Lenders without their consent) as certified by a Responsible Officer of the
Borrower in good faith. 
 “Permitted Asset Swap” means the substantially concurrent purchase and sale, trade-in or exchange of equipment, real property or any other property of a nature or type that is used or useful in a Similar Business or a combination of such equipment, real property or any other property and
cash or Cash Equivalents between the Borrower or any of its Restricted Subsidiaries and another Person; provided that the fair market value of the equipment, real property or any other property received is at least as great as the fair market
value of the equipment, real property or other property being traded-in or exchanged as determined by the Borrower reasonably and in good faith; provided that any shortfall may be treated as an
Investment and shall constitute an Investment for purposes of calculating compliance with Section 7.02. 

“Permitted Real Estate Encumbrances” means the following encumbrances which do not, in any case, individually or in the
aggregate, materially detract from the value of any Mine subject thereto or interfere with the ordinary conduct of the business or operations of any Loan Party as presently conducted on, at or with respect to such Mine and as to be conducted
following the Closing Date: (a) encumbrances customarily found upon real property used for mining purposes in the applicable jurisdiction in which the applicable real property is located to the extent such encumbrances would be permitted or
granted by a prudent operator of mining property similar in use and configuration to such real property (e.g., surface rights agreements, wheelage agreements and reconveyance agreements); (b) rights and easements of (i) owners of undivided
interests in any of the real property where the applicable Loan Party or Subsidiary owns less than 100% of the fee interest, (ii) owners of interests in the surface of any real property where the applicable Loan Party or Subsidiary does not own
or lease such surface interest, (iii) lessees, if any, of coal or other minerals (including oil, gas and coal bed methane) where the applicable Loan Party or Subsidiary does not own such coal or other minerals, and (iv) lessees of other
coal seams and other minerals (including oil, gas and coal bed methane) not owned or 

  
 34 

 
leased by such Loan Party or Subsidiary; (c) with respect to any real property in which the Borrower or any Restricted Subsidiary holds a leasehold interest, terms, agreements, provisions,
conditions, and limitations (other than royalty and other payment obligations which are otherwise permitted hereunder) contained in the leases granting such leasehold interest and the rights of lessors thereunder (and their heirs, executors,
administrators, successors, and assigns), subject to any amendments or modifications set forth in any landlord consent delivered in connection with a Mortgage; (d) farm, grazing, hunting, recreational and residential leases with respect to
which the Borrower or any Restricted Subsidiary is the lessor encumbering portions of the real properties to the extent such leases would be granted or permitted by, and contain terms and provisions that would be acceptable to, a prudent operator of
mining properties similar in use and configuration to such real properties; (e) royalty and other payment obligations to sellers or transferors of fee coal or lease properties to the extent such obligations constitute a lien not yet delinquent;
(f) rights of others to subjacent or lateral support and absence of subsidence rights or to the maintenance of barrier pillars or restrictions on mining within certain areas as provided by any mining lease, unless in each case waived by such
other person; and (g) rights of repurchase or reversion when mining and reclamation are completed. 
 “Permitted Refinancing
Increase” means, with respect to the Refinancing of any Indebtedness, an amount equal to (a) any premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such Refinancing, (b) any
unpaid accrued interest on the Indebtedness being Refinanced, and (c) any existing commitments unutilized under the Indebtedness being Refinanced. 

“Permitted Refinancing Indebtedness” mean any Indebtedness issued in exchange for, or the net proceeds of which are used to,
extend, refinance, renew, replace, defease or refund (collectively, to “Refinance”), the Indebtedness being Refinanced (or previous refinancings thereof constituting Permitted Refinancing Indebtedness); provided that
(a) the principal amount (or accreted value, if applicable) of such Permitted Refinancing Indebtedness does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness so Refinanced (plus any Permitted
Refinancing Increase in respect of such Refinancing), (b) such Permitted Refinancing Indebtedness shall have the same obligors and same guarantees as, and be secured on a pari passu basis with, the Indebtedness so Refinanced (provided
that the Permitted Refinancing Indebtedness may be subject to lesser guarantees or be unsecured or the Liens securing the Permitted Refinancing Indebtedness may rank junior to the Liens securing the Indebtedness so Refinanced) and, to the extent
applicable, the Borrower shall have satisfied the requirements of Section 3.8 of the Collateral Trust Agreement with respect to such Permitted Refinancing Indebtedness, (c) the maturity date is later than or equal to, and the weighted
average life to maturity of such Permitted Refinancing Indebtedness is greater than or equal to, that of the Indebtedness being Refinanced, (d) if the Indebtedness so Refinanced is subordinated in right of payment to the Obligations, then such
Permitted Refinancing Indebtedness, by its terms or by the terms of any agreement or instrument pursuant to which it is outstanding, is expressly made subordinate in right of payment to the Obligations at least to the extent that the Indebtedness so
Refinanced is subordinated to the Obligations and (e) the terms and conditions of any Permitted Refinancing Indebtedness, taken as a whole, are not materially less favorable to the Loan Parties than the terms and conditions of the Indebtedness
that is being Refinanced. 

  
 35 

 “Permitted Restructuring Transaction” means the mergers, distributions and other
transactions described in Section IV.F.1 and Exhibit IV.F.1 of the Plan of Reorganization undertaken substantially concurrently with, or within the three-month period following, the Closing Date; provided that in connection with any transfers of
assets (including Equity Interests) to any Loan Party, such Loan Party shall comply with Section 6.16 with respect to such assets; provided, further, that (i) no such transaction shall result in a change in the
ownership of Peabody Investments (Gibraltar) Limited by Gibraltar Holdings, (ii) no such transaction shall result in any material asset becoming an Excluded Asset (other than to the extent such asset is excluded under clause (i)(iii) of the
definition of Excluded Asset) and (iii) no such transaction shall involve a transfer of assets (including Equity Interests) or other distribution from a Loan Party to a non-Loan Party or a merger or
dissolution of a Loan Party into a non-Loan Party (other than those transactions occurring substantially concurrently with the Closing Date). 

“Permitted Securitization Programs” means (a) the Existing Securitization Facility and (b) any receivables
securitization program pursuant to which the Borrower or any of its Subsidiaries sells receivables and interests in Receivables Assets, which are non-recourse (except for representations, warranties,
covenants, repurchase obligations and indemnities, in each case, that are reasonably customary for a seller or servicer of assets transferred in connection with such a facility) to the Borrower and the Restricted Subsidiaries providing for the sale,
conveyance or contribution to capital of Receivables Assets to Special Purpose Receivables Subsidiary; provided, that the aggregate principal amount outstanding of any Permitted Securitization Program, together with the maximum principal
amount outstanding of any ABL Facility, shall not exceed the greater of $250,000,000 and 3.5% of Consolidated Net Tangible Assets. 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, Governmental Authority or other entity. 
 “PIC Intercompany Loan Agreement” means that certain Loan
Agreement, dated as of April 11, 2012, among Peabody Investments Corp., as lender, and Peabody Energy Australia Pty Ltd, as borrower, with respect to advances made from time to time thereunder. 

“PIC Intercompany Note” means that certain Promissory Note, dated as of the Closing Date, evidencing the advances made
pursuant to the PIC Intercompany Loan Agreement. 
 “Plan” means any “employee benefit plan” (as such term is
defined in Section 3(3) of ERISA) established by the Borrower or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, by any ERISA Affiliate. 

“Plan Documents” has the meaning specified in Section 4.01(l). 

“Plan of Reorganization” means the Second Amended Joint Plan of Reorganization of Debtors and Debtors in Possession, dated
January 27, 2017, relating to the Borrower and its debtor Subsidiaries, and filed with the Bankruptcy Court under Docket No. 2229, including all exhibits thereto, as the same may be amended, supplemented, modified or waived from time to
time in a manner that does not result in a failure of the condition precedent set forth in Section 4.01(l). 

  
 36 

 “Plan Support Agreement” means that certain Plan Support Agreement, dated as of
December 22, 2016, among (A) the Debtors (as defined therein), (B) the First Lien Lender Co-Proponents, the Ad Hoc Secured Committee Members and the Ad Hoc Unsecured Noteholders Group (each as
defined therein), (C) any Additional Supporting Parties (as defined therein) that subsequently enters into the Plan Support Agreement and (D) each other person that becomes a party in accordance with Section 8(b) thereof, as the same may be
amended, supplemented, modified or waived from time to time in a manner that does not result in a failure of the condition precedent set forth in Section 4.01(l). 

“Platform” has the meaning specified in Section 6.02. 

“Prime Rate” means the rate of interest quoted in the print edition of The Wall Street Journal, Money Rates Section as
the Prime Rate (currently defined as the base rate on corporate loans posted by at least 75% of the nation’s thirty (30) largest banks), as in effect from time to time. The Prime Rate is a reference rate and does not necessarily represent
the lowest or best rate actually charged to any customer. The Administrative Agent or any other Lender may make commercial loans or other loans at rates of interest at, above or below the Prime Rate. 

“Priority Lien Notes” means each of (a) the senior secured first lien notes due March 31, 2022 and (b) the
senior secured first lien notes due 2025, in each case, issued from time to time pursuant to the Priority Lien Notes Indenture. 

“Priority Lien Notes Indenture” means the Indenture, dated as of February 15, 2017, between Peabody Securities Finance
Corporation, a Delaware corporation (the “Escrow Issuer”), and the Priority Lien Notes Trustee, as modified by a Supplemental Indenture dated as of April 3, 2017, among the Escrow Issuer, the Borrower, the Guarantors (as
defined therein) party thereto and the Priority Lien Notes Trustee, as the same may be further amended, restated, supplemented, replaced, refinanced or otherwise modified from time to time in accordance with the Collateral Trust Agreement. 

“Priority Lien Notes Documents” means the Priority Lien Notes Indenture, the Priority Lien Notes and each other instrument or
agreement executed in connection with the Priority Lien Notes and any instrument or agreement executed in connection with any refinancings and replacements thereof to the extent permitted under the Collateral Trust Agreement, as each such material
instrument or agreement may be amended, restated, supplemented, replaced or otherwise modified from time to time in accordance with the Collateral Trust Agreement. 

“Priority Lien Notes Indebtedness” means the Indebtedness of Borrower and the other Loan Parties incurred pursuant to or
evidenced by the Priority Lien Notes Documents. 
 “Priority Lien Notes Trustee” means Wilmington Trust, National
Association, together with its successors and assigns in such capacity. 
 “Production Payments” means with respect to any
Person, all production payment obligations and other similar obligations with respect to coal and other natural resources of such Person that are recorded as a liability or deferred revenue on the financial statements of such Person in accordance
with GAAP. 

  
 37 

 “Pro Forma Basis” means, for purposes of calculating Consolidated Net Tangible
Assets, the Total Leverage Ratio under the definition of “Incremental Debt Cap”, in Section 6.13, Section 7.03(j), Section 7.06(e) and Section 7.06(m), the First Lien Leverage Ratio under the
definition of “Incremental Debt Cap”, or any other test that is based on satisfying a financial ratio or metric, that with respect to any acquisition or disposition (in each case, that would be included in a Pro Forma Basis calculation
pursuant to Section 1.03(c)), such acquisition or disposition shall be deemed to have occurred as of the first day of the most recent four fiscal quarter period preceding the date of such acquisition or disposition for which the Borrower has
delivered financial statements pursuant to Section 6.01. In connection with the foregoing, (a) with respect to any such acquisition, income statement items attributable to the Person or property or assets acquired
shall be included to the extent relating to any period applicable in such calculations to the extent (i) such items are not otherwise included in such income statement items for the Borrower and its Restricted Subsidiaries in accordance with
GAAP or in accordance with any defined terms set forth in Section 1.01, (ii) such items are supported by financial statements or other information reasonably satisfactory to the Administrative Agent and (iii) any
Indebtedness incurred or assumed by the Borrower or any Subsidiary (including the Person, property or assets acquired) in connection with such acquisition and any Indebtedness of the Person, property or assets acquired which is not retired in
connection with such acquisition (A) shall be deemed to have been incurred as of the first day of the most recent four fiscal quarter period preceding the date for such acquisition and (B) if such Indebtedness has a floating or formula
rate, shall have an implied rate of interest for the most recent four fiscal quarter period preceding the date of such acquisition for purposes of this definition determined by utilizing the rate which is or would be in effect with respect to such
Indebtedness as at the relevant date of determination; and (b) with respect to any such disposition, income statement items attributable to the Person or property or assets being disposed of shall be excluded to the extent relating to any
period applicable in such calculations in accordance with the foregoing principles applicable to acquisitions, mutatis mutandis. 

“Properties” has the meaning specified in Section 5.09(a). 

“Qualified Equity Interests” means all Equity Interests of a Person other than Disqualified Equity Interests. 

“Receivables Assets” means any receivable (whether constituting an account, chattel, paper, instrument or general intangible)
from time to time originated, acquired or otherwise owned by the Borrower or any Subsidiary, including, with respect to any receivable: 

(a)    all of a Subsidiary’s and any Loan Party’s interest in any goods (including returned goods) to the extent
related to such receivable, and documentation of title evidencing the shipment or storage of any such goods (including any such returned goods), 

(b)    all instruments and chattel paper that may evidence such receivable (and to the extent they do not evidence any
asset that is not a receivable), 
 (c)    all other security interests or liens and property subject thereto from time
to time purporting to secure payment of such receivable, whether pursuant to the contract related to such receivable or otherwise, together with all UCC financing statements or similar filings related thereto, 

  
 38 

 (d)    solely to the extent applicable to such receivable, the rights,
interests and claims under the contracts and all guarantees, indemnities, insurance and other agreements (including the related contract) or arrangements of whatever character from time to time supporting or securing payment of such receivable or
otherwise relating to such receivable whether pursuant to the contract related to such receivable or otherwise, 

(e)    all funds that are received or deemed received by a Loan Party or a Subsidiary in payment of any amounts owed in
respect of such receivable (including, without limitation, purchase price, finance charges, fees, interest and all other charges) or are applied to amounts owed in respect of such receivable (including, without limitation, insurance payments and net
proceeds of sale or other disposition of repossessed goods or other collateral or property of the related obligor or any other person directly or indirectly liable for the payment of any such receivable and available to be applied thereon), 

(f)    the lock-box accounts designated solely as the accounts to receive the
proceeds of such receivables and all amounts on deposit therein, and all certificates and instruments, if any, from time to time evidencing such lock-box accounts and amounts on deposit therein, 

(g)    all monies due or to become due with respect to any of the foregoing, 

(h)    all collections, proceeds and products of any of the foregoing, as defined in the UCC, that are received or are
receivable by a Loan Party or a Subsidiary, and 
 (i)    all books and records to the extent related to any of the
foregoing Receivables Assets. 
 For the avoidance of doubt, Receivables Assets shall exclude any intercompany receivables, including,
without limitation, amounts owing under the PIC Loan Agreement and the PIC Intercompany Note. 
 “Refinance” has the
meaning specified in the definition of Permitted Refinancing Indebtedness. 
 “Refinancing” means the refinancing of
certain of Borrower’s and its Subsidiaries’ existing Indebtedness, substantially on the terms set forth in the Plan of Reorganization. 

“Refinancing Facility” has the meaning specified in Section 2.16(a). 

“Refinancing Facility Effective Date” has the meaning specified in Section 2.16(a). 

“Refinancing Facility Lender” means any Person who provides a Refinancing Facility. 

“Refinancing Loan” means, with respect to any Refinancing Facility, an advance made by any Refinancing Facility Lender under
such Refinancing Facility. 

  
 39 

 “Refinancing Notes” has the meaning specified in
Section 7.03(n). 
 “Register” has the meaning specified in Section 10.06(c). 

“Related Agreements” means, collectively, the Priority Lien Notes Documents, the Rights Offering Documents, the documents
evidencing the Existing Securitization Facility, the documents governing the Convertible Securities and executed in connection therewith and all other documents executed in connection with the effectiveness of the Plan of Reorganization. 

“Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers,
employees, agents, attorneys and advisors of such Person and of such Person’s Affiliates. 
 “Related Party
Transaction” has the meaning specified in Section 7.08. 
 “Reportable Event” means any
of the events set forth in Section 4043(c) of ERISA, other than events for which the 30 day notice period has been waived. 

“Required Facility Lenders” means, as of any date of determination, with respect to any Facility, Lenders under such Facility
holding more than 50% of the Total Outstandings with respect to such Facility. 
 “Required Lenders” means, as of any date
of determination, Lenders holding more than 50% of the sum of the Total Outstandings; provided that the unused Commitment of, and the portion of the Total Outstandings held or deemed held by, any Defaulting Lender shall be excluded from both
the numerator and the denominator for purposes of making a determination of Required Lenders. 
 “Requirement of Law” means
as to any Person, the Organizational Documents of such Person, and any law, treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its
property or to which such Person or any of its property is subject. 
 “Reserve Area” means (a) the real property
owned in fee by any Loan Party or in which a Loan Party has a leasehold interest that is part of the areas listed on Schedule 1.01(e) and (b) any real property constituting coal reserves or access to coal reserves owned in fee by any
Loan Party or in which a Loan Party has a leasehold interest, acquired after the Closing Date, that is not an active Mine. 

“Responsible Officer” means the chief executive officer, president or any vice president of the Borrower or any applicable
Subsidiary and, in addition, any Person holding a similar position or acting as a director or managing director with respect to any other Foreign Subsidiary of the Borrower or, with respect to financial matters, the chief financial officer,
treasurer or assistant treasurer of the Borrower. 
 “Restricted Payment” means (a) any dividend or other distribution
(whether in cash, securities or other property) by the Borrower or any Restricted Subsidiary with respect to its Capital Stock, or any payment (whether in cash, securities or other property) by the Borrower or

  
 40 

 
any Restricted Subsidiary, including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any of its Capital Stock,
or on account of any return of capital to its stockholders, partners or members (or the equivalent Person thereof) and (b) any payment or prepayment of principal of, premium, if any, or interest on, or redemption, purchase, retirement,
defeasance (including in-substance or legal defeasance), sinking fund or similar payment with respect to, any unsecured Indebtedness, Subordinated Indebtedness or Junior Lien Indebtedness. 

“Restricted Subsidiary” means any Subsidiary that is not an Unrestricted Subsidiary. 

“Rights Offering Documents” means the documents evidencing the rights offering of Equity Interests in the Borrower to
eligible holders of the Borrower’s pre-petition unsecured and second lien creditors under the Plan of Reorganization in an aggregate amount equal to at least $750,000,000. 

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. and any
successor thereto. 
 “Same Day Funds” means immediately available funds. 

“Sanctions” has the meaning specified in Section 5.17. 

“Sanctions Laws” has the meaning specified in Section 5.17. 

“SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal
functions. 
 “Secured Hedging Agreement” means any Hedging Agreement between the Borrower or a Restricted Subsidiary, on
the one hand, and any Lender, an Agent, an Arranger or an Affiliate of any of the foregoing (or with any Person that was a Lender, an Agent, an Arranger or an Affiliate of the foregoing when such Hedging Agreement was entered into) (any such
counterparty, a “Hedge Bank”). 
 “Secured Hedging Obligations” means all debts, liabilities and
obligations of the Borrower or any Restricted Subsidiary in respect of any Secured Hedging Agreement. 
 “Secured
Obligations” means the Obligations and the Secured Hedging Obligations. Notwithstanding anything to the contrary herein, the “Secured Obligations” shall not include any Excluded Hedging Obligations. 

“Secured Parties” means, collectively, the Agents, the Collateral Trustee, the Arrangers, the Lenders and, with respect to
any Secured Hedging Agreement, any Hedge Bank. 
 “Security Agreement” means that certain Pledge and Security Agreement,
dated as of the Closing Date, substantially in the form of Exhibit G or such other form reasonably acceptable to the Administrative Agent, the Collateral Trustee and the Borrower, among the Borrower, the Restricted Subsidiaries from time to
time party thereto and the Collateral Trustee, for the benefit of the Secured Parties. 

  
 41 

 “Security Documents” means, collectively, the Security Agreement, the Gibraltar
Pledge Agreement, the IP Security Agreements, the Mortgages, the Collateral Trust Agreement, each of the pledge agreements and supplements thereto, security agreements and supplements thereto, and other similar agreements delivered to Administrative
Agent and Lenders pursuant to Section 6.16, and any other documents, agreements or instruments that grant or purport to grant a Lien on any assets of the Borrower or any other Loan Party in favor of the Collateral Trustee
to secure the Secured Obligations. 
 “Similar Business” means any of the following, whether domestic or foreign: the
mining, production, marketing, sale, trading and transportation (including, without limitation, any business related to terminals) of natural resources including coal, ancillary natural resources and mineral products, exploration of natural
resources, any acquired business activity so long as a material portion of such acquired business was otherwise a Permitted Business, and any business that is ancillary or complementary to the foregoing. 

“Solvent” means, with respect to any Person, that as of the date of determination, both (i) (a) the sum of such
Person’s debt (including contingent liabilities) does not exceed the present fair saleable value of such Person’s present assets; (b) such Person’s capital is not unreasonably small in relation to its business as contemplated on
the Closing Date and reflected in the projections delivered pursuant to Section 4.01(a)(xii) or with respect to any transaction contemplated to be undertaken after the Closing Date; and (c) such Person has not incurred and does not intend to
incur, or believe (nor should it reasonably believe) that it will incur, debts beyond its ability to pay such debts as they become due (whether at maturity or otherwise); and (ii) such Person is “solvent” within the meaning given that
term and similar terms under the Bankruptcy Code and other applicable laws relating to fraudulent transfers and conveyances. For purposes of this definition, the amount of any contingent liability at any time shall be computed as the amount that, in
light of all of the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability (irrespective of whether such contingent liabilities meet the criteria for accrual
under Statement of Financial Accounting Standards No. 5). 
 “Special Purpose Receivables Subsidiary” means P&L
Receivables Company LLC and any other direct or indirect Subsidiary of the Borrower established in connection with a Permitted Securitization Program for the acquisition of Receivables Assets or interests therein that is organized in a manner
intended to reduce the likelihood that it would be substantively consolidated with the Borrower or any of the Restricted Subsidiaries in the event the Borrower or any such Restricted Subsidiary becomes subject to a proceeding under any Debtor Relief
Law. 
 “Specified Representations” means, with respect to any Permitted Acquisition, the representations and warranties
contained in Sections 5.01(a)(i), 5.01(b)(ii), 5.02(a), 5.02(b)(i), 5.02(b)(iii), 5.04, 5.14, 5.17, 5.19 and 5.21; provided, that for purposes of this
definition, (a) the defined term “Loan Parties” as used in such representations and warranties shall mean the Borrower and each Guarantor in existence immediately prior to the consummation of the Permitted Acquisition,
(b) clause (a) of the defined term “Material Adverse Effect” as used in Section 5.02 shall relate to the Borrower and its Restricted Subsidiaries immediately prior to the
Closing Date and (c) the representation and warranty contained in Section 5.14(b) shall apply only to the Borrower and the Loan Parties (as such term is used in clause (a) of this proviso). 

  
 42 

 “Specified Subsidiary” means each of Gibraltar Holdings, Peabody International
Investments, Inc., Peabody International Holdings, LLC, each other Subsidiary, whether now owned or hereafter formed or acquired, that directly holds Equity Interests in Gibraltar Holdings at any time, and any successor to any of the foregoing;
provided that in no event shall any Guarantor be designated as a Specific Subsidiary so long as (i) any Equity Interests owned by such Guarantor constitute Collateral and (ii) the Equity Interests of such Guarantor constitutes Collateral.

 “Subordinated Indebtedness” means any Indebtedness of the Borrower and its Restricted Subsidiaries that is contractually
subordinated to the Indebtedness under the Loan Documents. 
 “Subsidiary” of a Person means a corporation, partnership,
joint venture, limited liability company or other business entity of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or
interests having such power only by reason of the happening of a contingency) are at the time beneficially owned directly, or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise specified, all references herein
to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Borrower. 
 “Surety
Bonds” means surety bonds obtained by the Borrower or any Restricted Subsidiary consistent with market practice and the indemnification or reimbursement obligations of the Borrower or such Restricted Subsidiary in connection therewith. 

“Syndication Agent” has the meaning specified in the preamble hereto. 

“Tangible Assets” means at any date, with respect to any Person, (a) the sum of all amounts that would, in accordance
with GAAP, be set forth opposite the caption “total assets” (or any like caption) on a consolidated balance sheet of such Person at such date minus (b) the sum of all amounts that would, in accordance with GAAP, be set forth
opposite the captions “goodwill” or other intangible categories (or any like caption) on a consolidated balance sheet of such Person on such date. 

“Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding),
assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Term Loan” means an advance made by any Lender under the Term Loan Facility. 

“Term Loan Commitment” means, as to each Lender, its obligation to make Term Loans to the Borrower pursuant to
Section 2.01 in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Term Loan Commitment” or
opposite such caption in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. The aggregate amount of Term Loan
Commitments as of the Closing Date is $950,000,000. 

  
 43 

 “Term Loan Facility” means, at any time, the aggregate principal amount of the
Term Loans of all Lenders outstanding at such time. 
 “Threshold Amount” means $75,000,000. 

“Ticking Fee” has the meaning assigned in Section 2.09(b). 

“Total Leverage Ratio” means, as of any date of determination, the ratio of (i) Consolidated Net Total Debt as of the
date of the financial statements most recently delivered by the Borrower pursuant to Section 6.01(a) or (b), as applicable, to (ii) Consolidated EBITDA for the period of the four consecutive fiscal quarters ending as of the date of such
financial statements. 
 “Total Outstandings” means the aggregate Outstanding Amount of all Loans. 

“Trademark Security Agreement” means the Trademark Security Agreement, substantially in the form attached to the Security
Agreement or such other form reasonably acceptable to the Administrative Agent, by certain Loan Parties in favor of the Collateral Trustee, for the benefit of the Secured Parties. 

“Transactions” means, collectively, (a) the Exit, (b) the Refinancing, (c) the incurrence of the Loans under
the Loan Documents, (d) the transactions contemplated by the Rights Offering Documents, (e) the issuance of the Convertible Securities and the assumption by the Borrower of the obligations under the Priority Lien Notes, (f) the
incurrence of any Permitted Securitization Program, (g) the availability of the Minimum Cash Balance and (h) the payment of the fees and expenses incurred in connection with any of the foregoing clauses (a)-(g) hereof. 

“Transaction Costs” has the meaning specified in the preliminary statements to this Agreement. 

“Type” means, with respect to a Term Loan, its character as a Base Rate Loan or a Eurocurrency Rate Loan. 

“UCC” means the Uniform Commercial Code as in effect in the applicable state of jurisdiction. 

“Unfunded Pension Liability” means the excess of a Pension Plan’s accrued benefit liabilities under Section 4001(a)(16)
of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the actuarial assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year. 

“United States” and “US” mean the United States of America. 

“Unrestricted Cash” means the aggregate amount of cash and Cash Equivalents held in accounts on the consolidated balance
sheet of Borrower and its Restricted Subsidiaries to the extent that the use of such cash for application to payment of the Obligations or other Indebtedness is not prohibited by law or any contract or other agreement and such cash is and Cash
Equivalents are free and clear of all Liens (other than Liens in favor of the Collateral Trustee) and Liens permitted pursuant to Section 7.01(p)(i) hereof. 

  
 44 

 “Unrestricted Subsidiary” means (a) any Subsidiary of the Borrower that
becomes an Unrestricted Subsidiary in accordance with Section 6.13, (b) any Special Purpose Receivables Subsidiary; provided that any Special Purpose Receivables Subsidiary shall, upon termination of such Permitted
Securitization Program (other than as a result of an event of default thereunder unless and until the obligations thereunder are repaid in full), cease to be an Unrestricted Subsidiary, or (c) any Subsidiary listed on Schedule 1.01(b);
provided that in no event shall any of Peabody Investments Corp., Peabody IC Funding Corp., Gibraltar Holdings, Peabody Investments (Gibraltar) Limited, Peabody Global Funding, LLC, Peabody International Investments, Inc. (and any successor
thereto), Peabody International Holdings, LLC, and any other Subsidiary, whether now owned or hereafter formed or acquired, that directly holds Equity Interests in Gibraltar Holdings at any time be or be designated as an Unrestricted Subsidiary.

 “U.S. Government Obligations” means obligations issued or directly and fully guaranteed or insured by the United States
of America or by any agency or instrumentality thereof, provided that the full faith and credit of the United States of America is pledged in support thereof. 

“Voting Stock” means, with respect to any Person, such Person’s Equity Interest having the right to vote for the
election of directors of such Person under ordinary circumstances. 
 “Weighted Average Yield” means with respect to
any Loan, on any date of determination, the weighted average yield to maturity, in each case, based on the interest rate applicable to such Loan on such date and giving effect to all upfront or similar fees or original issue discount payable with
respect to such Loan. 
 “Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the
write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in
the EU Bail-In Legislation Schedule. 
 1.02    Other Interpretive
Provisions. With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document: 

(a)    The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever
the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be followed by the
phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (i) any definition of or reference to
any agreement, instrument or other document (including any Organizational Document) shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any
restrictions on such amendments, supplements or modifications set forth herein or in any other Loan Document), (ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (iii) the words
“herein,” “hereof”, “hereto” and “hereunder,” and words of similar import when used in any 

  
 45 

 
Loan Document, shall be construed to refer to such Loan Document in its entirety and not to any particular provision thereof, (iv) all references in a Loan Document to Articles, Sections,
Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, the Loan Document in which such references appear, (v) all references to “wholly-owned” when referring to a Subsidiary of
the Borrower shall mean a Subsidiary of which all of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests having such power only by reason
of the happening of a contingency) are at the time beneficially owned directly or indirectly by the Borrower or another wholly-owned Subsidiary of the Borrower, (vi) any reference to any law shall include all statutory and regulatory provisions
consolidating, amending, replacing or interpreting such law and any reference to any law or regulation shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time, and (vii) the
words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract
rights. 
 (b)    In the computation of periods of time from a specified date to a later specified date, the word
“from” means “from and including;” the words “to” and “until” each mean “to but excluding;” and the word “through” means “to and
including.” 
 (c)    Section headings herein and in the other Loan Documents are included for convenience of
reference only, shall not constitute a part hereof, shall not be given any substantive effect and shall not affect the interpretation of this Agreement or any other Loan Document. 

1.03    Accounting Terms. 

(a)    Generally. All accounting terms not specifically or completely defined herein shall be construed in
conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, applied in a manner
consistent with that used in preparing the Audited Financial Statements, except as otherwise specifically prescribed herein. 

(b)    Changes in GAAP. If at any time any Accounting Change would affect the computation of any financial ratio or
requirement set forth in any Loan Document, and either the Borrower or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the
original intent thereof in light of such Accounting Change as if such Accounting Change has not been made (subject to the approval of the Required Lenders); provided that, until so amended, all financial covenants, standards and terms in this
Agreement shall continue to be calculated or construed as if such Accounting Change had not occurred. 
 (c)    Pro
Forma Basis Calculation. Notwithstanding anything herein to the contrary, the parties hereto acknowledge and agree that all calculations of (i) the Total Leverage Ratio and the First Lien Leverage Ratio for purposes of determining
compliance with the Incremental Debt Cap, Section 6.13, Section 7.03(j), Section 7.06(e) and Section 7.06(m), (ii) Consolidated Net 

  
 46 

 
Tangible Assets or (iii) any other test that is based on satisfying a financial ratio or metric, shall be made on a Pro Forma Basis (A) with respect to any acquisition by the Borrower
or its Restricted Subsidiaries of any Person, property or assets, if the Consolidated EBITDA for the acquired Person or business for the most recent four fiscal quarter period for which financial statements are available is equal to or greater than
5% of the Consolidated EBITDA of the Borrower and its Restricted Subsidiaries for such period and (B) with respect to any disposition by the Borrower or its Restricted Subsidiaries of any Person, property or assets, if the Consolidated EBITDA
for the Person or business being disposed of for the most recent four fiscal quarter period for which financial statements are available was equal to or exceeded 5% of the Consolidated EBITDA of the Borrower and its Restricted Subsidiaries for such
period. With respect to the above Pro Forma Basis calculations, in the event that the relevant entity or property, which is being acquired or disposed, reports its financial results on a semi-annual basis, the Administrative Agent and the Borrower
may utilize the two most recent semi-annual financial results for purposes of making such calculation and such above determination in a manner similar to the above that is mutually agreeable. 

1.04    Times of Day. Unless otherwise specified, all references herein to times of day shall be references to New
York City time (daylight or standard, as applicable). 
 1.05    Negative Covenant Compliance. For purposes of
determining whether the Borrower and its Restricted Subsidiaries comply with any exception to the negative covenants contained in Section 7.01, Section 7.02 and 7.03 where compliance with
any such exception is based on a financial ratio or metric being satisfied, it is understood that (a) compliance shall be measured at the time when the relevant event is undertaken, as such financial ratios and metrics are intended to be
“incurrence” tests and not “maintenance” tests and (b) correspondingly, any such ratio and metric shall only prohibit the Borrower and its Restricted Subsidiaries from creating, incurring, assuming, suffering to exist or
making, as the case may be, any new Liens, Indebtedness or Investments, but shall not result in any previously permitted Liens, Indebtedness or Investments ceasing to be permitted hereunder. 

ARTICLE II. 
 THE
COMMITMENTS AND BORROWINGS 
 2.01    The Loans. Subject to the terms and conditions set forth herein, each
Lender severally agrees to make a loan (a “Term Loan”) to the Borrower in Dollars, on the Closing Date in an aggregate principal amount not to exceed such Lender’s Applicable Percentage of the Term Loan Facility;
provided, however, that after giving effect to any Borrowing, (i) the Total Outstandings shall not exceed the Term Loan Facility and (ii) the aggregate Outstanding Amount of the Term Loans of any Lender shall not exceed such
Lender’s Term Loan Commitment. Each Borrowing shall consist of Term Loans made simultaneously by the Lenders in accordance with their respective Applicable Percentage of the Term Loan Facility. Amounts borrowed under this
Section 2.01 and repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein. Term Loan Commitments in effect on the Closing Date and not drawn on the
Closing Date shall expire immediately after such date. 

  
 47 

 2.02    Borrowings, Conversions and Continuations of the Loans. 

(a)    Each Borrowing, each conversion of Term Loans from one Type to the other, and each continuation of Eurocurrency Rate
Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by telephone. Each such notice must be received by the Administrative Agent not later than 12:00 p.m., New York City time (i) three
Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurocurrency Rate Loans and (ii) on the requested date of any Borrowing of Base Rate Loans; provided, however, that if the Borrower
wishes to request Eurocurrency Rate Loans having an Interest Period other than one, two, three, or six months or, to the extent available to all Lenders making such Eurocurrency Rate Loans, twelve months in duration as provided in the definition of
“Interest Period”, the applicable notice must be received by the Administrative Agent not later than 12:00 p.m. New York City time four Business Days prior to the requested date of such Borrowing, conversion or continuation of Eurocurrency
Rate Loans. Not later than 12:00 p.m. New York City time three Business Days before the requested date of such Borrowing, conversion or continuation of Eurocurrency Rate Loans, the Administrative Agent shall notify the Borrower (which notice may be
by telephone) whether or not the applicable requested Interest Period referenced in the above proviso has been consented to by all the Lenders. Each telephonic notice by the Borrower pursuant to this Section 2.02(a) must be confirmed promptly
by delivery to the Administrative Agent of a written Borrowing Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of, conversion to or continuation of Eurocurrency Rate Loans shall be in a principal
amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof. Each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each Borrowing Notice (whether
telephonic or written) shall specify (i) whether the Borrower is requesting a Borrowing, a conversion of Term Loans from one Type to the other, or a continuation of Eurocurrency Rate Loans, (ii) the requested date of the Borrowing,
conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Term Loans are to be
converted and (v) if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Loan in a Borrowing Notice or if the Borrower fails to give a timely notice requesting a conversion or
continuation of Eurocurrency Rate Loans, then the applicable Term Loans shall be made as, or converted to, Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect
with respect to the applicable Eurocurrency Rate Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Eurocurrency Rate Loans in any such Borrowing Notice, but fails to specify an Interest Period, it will be deemed to
have specified an Interest Period of one month. 
 (b)    Following receipt of a Borrowing Notice, the Administrative
Agent shall promptly notify each Lender of the amount of its Applicable Percentage under the applicable Facility of the applicable Term Loans, and if no timely notice of a conversion or continuation is provided by the Borrower, the Administrative
Agent shall notify each Lender of the details of any automatic conversion to Base Rate Loans as described in the preceding subsection. Each Lender shall make the amount of its Loan available to the Administrative Agent in Same Day Funds at the
Administrative Agent’s Office not later than 2:00 p.m., New York City time on the 

  
 48 

 
Business Day specified in the applicable Borrowing Notice. Upon satisfaction of the applicable conditions set forth in Section 4.02 (and, if such Borrowing is the
initial Borrowing, Section 4.01), the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative Agent either by (i) crediting the account of the
Borrower on the books of Administrative Agent with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower.

 (c)    Except as otherwise provided herein, a Eurocurrency Rate Loan may be continued or converted only on the last
day of an Interest Period for such Eurocurrency Rate Loan. During the existence of an Event of Default, no Loans may be requested as, converted to or continued as Eurocurrency Rate Loans if the Required Lenders or the Administrative Agent so notify
the Borrower. 
 (d)    As soon as practicable after 10:00 a.m. (New York City time) on each Interest Rate Determination
Date, Administrative Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all parties) the interest rate that shall apply to the Eurocurrency Rate Loans for which an interest rate is then
being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to the Borrower and each Lender. At any time that Base Rate Loans are outstanding, the Administrative Agent
shall notify the Borrower and the Lenders of any change in the Administrative Agent’s prime rate used in determining the Base Rate promptly following the public announcement of such change. 

(e)    After giving effect to all Borrowings, all conversions of Loans from one Type to the other, and all continuations
of Loans as the same Type, there shall not be more than ten (10) Interest Periods in effect hereunder. 

2.03    [Reserved]. 

2.04    [Reserved]. 

2.05    Prepayments and Commitment Reductions. 

(a)    Voluntary Prepayments. The Borrower may, upon notice to the Administrative Agent, at any time or from time
to time voluntarily prepay Term Loans in whole or in part, subject to Section 2.05(i), without premium or penalty; provided that (i) such notice must be received by the Administrative Agent not later than 11:00 a.m., New York City time
(or such other later time which is acceptable to the Administrative Agent), (A) three Business Days prior to any date of prepayment of Eurocurrency Rate Loans, and (B) on the date of prepayment of Base Rate Loans; (ii) any prepayment of
Eurocurrency Rate Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof;; and (iii) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in
excess thereof or, in each case, the entire amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and, if Eurocurrency Rate Loans are to be prepaid, the Interest
Period(s) of such Loans. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of 

  
 49 

 
the amount of such Lender’s ratable portion of such prepayment (based on such Lender’s Applicable Percentage). If such notice is given by the Borrower, the Borrower shall make such
prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein; provided that any such notice may be contingent upon the consummation of a refinancing and such notice may otherwise be
extended or revoked, in each case, with the requirements of Section 3.05 to apply to any failure of the contingency to occur and any such extension or revocation. Any prepayment of a Eurocurrency Rate Loan shall be
accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Each prepayment of the outstanding Term Loans pursuant to this Section 2.05(a) shall
be applied to the scheduled installment payments thereof as the Borrower shall direct, and each prepayment of Loans shall be paid to the Lenders in accordance with their respective Applicable Percentages. 

(b)    [Reserved]. 

(c)    [Reserved]. 

(d)    [Reserved]. 

(e)    Asset Sales. No later than ten Business Days following the consummation of any Asset Sale by the Borrower or
a Restricted Subsidiary pursuant to Sections 7.05(c), 7.05(k), 7.05(l) and 7.05(q) that results in the amount of Net Proceeds (as of the date of such receipt) exceeding $10,000,000 (such excess amount, the “Excess
Proceeds”), the Borrower shall make (or cause to be made) a prepayment of the Term Loans as specified in Section 2.05(e)(iii) below in an amount equal to the lesser of (x) 100% of such Excess Proceeds and (y) the aggregate
principal amount of the Term Loans then outstanding (the “Asset Sale Sweep Provision”), if any, in each case subject to the following: 

(i)    If prior to the date of any such required prepayment, the Borrower notifies the Administrative Agent in writing of
the Borrower’s and/or its Restricted Subsidiary’s intention to reinvest the Excess Proceeds of any Asset Sale in assets that are, in the reasonable business judgment of the Borrower, useful in the business of the Borrower or some or all of
its Restricted Subsidiaries (including by way of any Permitted Acquisition) and certifies in such notice that no Event of Default then exists, then the Borrower shall not be required to make a prepayment to the extent (x) the Excess Proceeds
are so reinvested within 365 days following receipt thereof by the Borrower and/or such Restricted Subsidiary, or (y) if the Borrower and/or such Restricted Subsidiary, as applicable, has committed in writing to so reinvest such Excess Proceeds
during such 365-day period, such Excess Proceeds are so reinvested within 180 days after the expiration of such 365-day period; provided that, to the extent such
Excess Proceeds have not been so reinvested prior to the expiration of the applicable period, the Borrower shall promptly prepay the outstanding Term Loans after the expiration of such period in an amount equal to the amount required by the Asset
Sale Sweep Provision where, subject to Section 2.05(e)(v), the amount of Excess Proceeds for such purposes shall be the amount of Excess Proceeds not reinvested as set forth above; provided, further that, if such Asset Sale
includes a Disposition of any Collateral, the assets in which the portion of Excess Proceeds derived from such Collateral are so reinvested as set forth above shall be reinvested in assets of one or more Loan Parties and the applicable Loan Party
shall comply with Section 6.16 with respect to such assets as if such assets were acquired on the date of such reinvestment. 

  
 50 

 (ii)    Any prepayment of a Eurocurrency Rate Loan shall be accompanied by
all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. 

(iii)    Each prepayment of the outstanding Term Loans pursuant to this Section 2.05(e) shall be applied to the
scheduled installment repayments thereof in direct order of maturity and shall be paid to the Lenders in accordance with their respective Applicable Percentages. 

(iv)    Notwithstanding anything to the contrary herein, with respect to the Metropolitan Collieries Disposition, the
Borrower’s obligation to repay the Term Loans pursuant to this Section 2.05(e) shall be limited to the lesser of (x) the Excess Proceeds as a result of the Metropolitan Collieries Disposition and (y) the amount by which the amount of
Unrestricted Cash of the Borrower and its Restricted Subsidiaries immediately after giving effect to such Metropolitan Collieries Disposition and the receipt of the proceeds of such Disposition exceeds $800,000,000. 

(v)    The amount of repayments required to be made pursuant to this Section 2.05(e) shall be reduced by an amount equal
to the sum of the amount of any voluntary repayments of the Term Loans made with such Net Proceeds from the relevant Asset Sale. 

(f)    Issuance of Debt. On the first Business Day following receipt by Borrower or any of its Restricted
Subsidiaries of any cash proceeds from the incurrence of any Indebtedness of Borrower or any of its Restricted Subsidiaries (other than with respect to Indebtedness permitted to be incurred pursuant to Section 7.03 but
including Permitted Refinancing Indebtedness in respect of the Term Loans), Borrower shall prepay the Term Loans in an aggregate amount equal to 100% of such proceeds, net of underwriting discounts and commissions and other reasonable costs and
expenses associated therewith, including reasonable legal fees and expenses. 
 (g)    Excess Cash Flow. In the
event that there shall be Excess Cash Flow for any fiscal year (commencing with the fiscal year ending December 31, 2017 for the portion of such fiscal year occurring after the Closing Date), Borrower shall, no later than one hundred days after
the end of such fiscal year, prepay the Term Loans in an aggregate amount equal to (i) 75% of such Excess Cash Flow minus (ii) voluntary repayments of the Loans made with Internally Generated Cash (excluding, for the avoidance of doubt,
(x) repurchases of Term Loans pursuant to Sections 2.19 and 2.20 and (y) repayments of Loans made with the Cash proceeds of any Permitted Refinancing Indebtedness); provided, that if, as of the last day of the most recently ended fiscal
year (commencing with the payment due one hundred days after December 31, 2018), the Total Leverage Ratio (determined for any such period by reference to the Compliance Certificate delivered pursuant to Section 6.02(b) calculating the Total
Leverage Ratio as of the last day of such fiscal year) shall be (1) less than or equal to 2.00:1.00 and greater than 1.50:1.00, Borrower shall only be required to make the prepayments otherwise required hereby in an amount equal to (i) 50% of
such Excess Cash Flow minus (ii) voluntary repayments of the Loans made with Internally Generated Cash (excluding, for the avoidance of doubt, (x) repurchases of 

  
 51 

 
Term Loans pursuant to Sections 2.19 and 2.20 and (y) repayments of Loans made with the Cash proceeds of any Permitted Refinancing Indebtedness); (2) less than or equal to 1.50:1.00 and
greater than 1.00:1.00, Borrower shall only be required to make the prepayments otherwise required hereby in an amount equal to (i) 25% of such Excess Cash Flow minus (ii) voluntary repayments of the Loans made with Internally Generated
Cash (excluding, for the avoidance of doubt, (x) repurchases of Term Loans pursuant to Sections 2.19 and 2.20 and (y) repayments of Loans made with the Cash proceeds of any Permitted Refinancing Indebtedness); and (3) less than or
equal to 1.00:1.00, Borrower shall not be required to make the prepayments otherwise required hereby. 

(h)    Insurance/Condemnation Proceeds. No later than ten Business Days following the date of receipt by Borrower
or any of its Restricted Subsidiaries, or Administrative Agent or Collateral Trustee as loss payee, of any Net Insurance/Condemnation Proceeds, Borrower shall prepay the Term Loans in an aggregate amount equal to such Net Insurance/Condemnation
Proceeds; provided, if prior to the date of any such required prepayment, the Borrower notifies the Administrative Agent in writing of the Borrower’s and/or its Restricted Subsidiary’s intention to reinvest the Net Insurance/Condemnation
Proceeds in assets that are, in the reasonable business judgment of the Borrower, useful in the business of the Borrower or some or all of its Restricted Subsidiaries (including by way of any Permitted Acquisition) (or used to replace damaged or
destroyed assets) and certifies in such notice that no Event of Default then exists, then the Borrower shall not be required to make a prepayment to the extent (x) the Net Insurance/Condemnation Proceeds are so reinvested within 365 days
following receipt thereof by the Borrower and/or such Restricted Subsidiary, or (y) if the Borrower and/or such Restricted Subsidiary, as applicable, has committed in writing to so reinvest such Net Insurance/Condemnation Proceeds during such 365-day period, such Net Insurance/Condemnation Proceeds are so reinvested within 180 days after the expiration of such 365-day period; provided that, to the extent such Net
Insurance/Condemnation Proceeds have not been so reinvested prior to the expiration of the applicable period, the Borrower shall promptly prepay the outstanding Term Loans after the expiration of such period in an amount equal to such Net
Insurance/Condemnation Proceeds less any amount so reinvested; provided, further that, if such casualty or taking includes any Collateral, the assets in which the portion of Net Insurance/Condemnation Proceeds derived from such Collateral are so
reinvested as set forth above shall be reinvested in assets of one or more Loan Parties and the applicable Loan Party shall comply with Section 6.16 with respect to such assets as if such assets were acquired on the date of such reinvestment.

 (i)    Call Protection. In the event all or any portion of the Term Loans incurred on the Closing Date is
repaid (or repriced or effectively refinanced through any amendment, including, without limitation, through a Refinancing Facility) for any reason (other than voluntary prepayments with Internally Generated Cash, mandatory prepayments required
pursuant to Sections 2.05(g) and 2.05(h) and repayments made pursuant to Section 2.07) prior to the first anniversary of the Closing Date, such repayments, repricing or effective refinancings will be made at
101.0% of the principal amount repaid, repriced or effectively refinanced if such repayment, repricing or refinancing occurs on or prior to the first anniversary of the Closing Date. 

  
 52 

 (j)    Repatriation. Notwithstanding the foregoing, if the Borrower
reasonably determines in good faith that any amounts attributable to Foreign Subsidiaries that are required to be prepaid pursuant to Sections 2.05(e) and 2.05(h) would result in material adverse tax consequences or violate any
applicable local law in respect of upstreaming proceeds (including financial assistance and corporate benefit restrictions and statutory duties of the relevant directors), in each case as set forth in a certificate delivered by a Responsible Officer
of the Borrower to the Administrative Agent, then such Borrower and its Restricted Subsidiaries shall not be required to prepay such amounts as required under Sections 2.05(e) and 2.05(h) the repatriation of which would result in such
tax consequence or violation until such material tax consequences or local law violation no longer exist; provided that, for a period of one year following the date on which such payment was originally required, the Borrower and its Restricted
Subsidiaries shall take commercially reasonable actions to permit repatriation of the proceeds subject to such prepayments in order to effect such prepayments without violating local law or incurring such material adverse tax consequences. 

(k)    Application of Mandatory Prepayments. Each prepayment of the outstanding Term Loans pursuant to this
Section 2.05 shall be applied pro rata to the remaining scheduled installment payments thereof, and each prepayment of Loans shall be paid to the Lenders in accordance with their respective Applicable Percentages. 

(l)    Additional Limitations. Notwithstanding anything to the contrary herein, the Borrower may apply amounts
otherwise required to make prepayments pursuant to Sections 2.05(e), (g) and (h) to repay (x) with respect to Sections 2.05(e) and (h), any Indebtedness that was secured by any assets not constituting Collateral sold in such Asset Sale or
the loss of which resulted in Net Insurance/Condemnation Proceeds, as applicable, to the extent such repayment is required by such Indebtedness as a result of such Asset Sale or loss and (y) a ratable portion of Indebtedness permitted to be
incurred pursuant to Section 7.03 and secured by liens on a pari passu basis pursuant to Section 7.01 (including, for the avoidance of doubt, the Priority Lien Notes Indebtedness, Incremental Debt and Permitted
Refinancing Indebtedness of the foregoing), in the case of this clause (y), in respect of which a prepayment (or offer of prepayment) is required to be made with respect to such pari passu Indebtedness with such Excess Proceeds, Net
Insurance/Condemnation Proceeds or Excess Cash Flow (determined on the basis of the aggregate outstanding principal amount of the Terms Loans and such other Indebtedness outstanding at such time). 

(m)    ABL Facility. Notwithstanding anything to the contrary in Sections 2.05(e) and 2.05(h), if any
Indebtedness under any ABL Facility is outstanding, to the extent a prepayment or cash collateralization of letters of credit is required under such ABL Facility due to any Net Proceeds or Net Insurance/Condemnation Proceeds constituting the
proceeds of ABL Priority Collateral, no prepayment shall be required under Sections 2.05(e) and 2.05(h) to the extent of such required payment under such ABL Facility. 

(n)    Waivable Mandatory Prepayment. Anything contained herein to the contrary notwithstanding, in the event the
Borrower is required to make any mandatory prepayment (a “Waivable Mandatory Prepayment”) not less than five Business Days prior to the date (the “Required Prepayment Date”) on which the Borrower is required to make
such Waivable Mandatory Prepayment, the Borrower shall notify the Administrative Agent of the amount of 

  
 53 

 
such prepayment, and the Administrative Agent will promptly thereafter notify each Lender of the amount of such Lender’s Applicable Percentage of such Waivable Mandatory Prepayment and such
Lender’s option to refuse such amount. Each such Lender may exercise such option by giving written notice to the Borrower and the Administrative Agent of its election to do so on or before the third Business Day prior to the Required Prepayment
Date (it being understood that any Lender which does not notify the Borrower and the Administrative Agent of its election to exercise such option on or before the third Business Day prior to the Required Prepayment Date shall be deemed to have
elected, as of such date, not to exercise such option). On the Required Prepayment Date, (i) the Borrower shall pay to the Administrative Agent an amount equal to that portion of the Waivable Mandatory Prepayment that is payable to those
Lenders that have elected not to exercise such option, to prepay the Term Loans of such Lenders (which prepayment shall be applied in accordance with the terms of this Section 2.05), and (ii) the portion of the Waivable Mandatory
Prepayment otherwise payable to Lenders that have elected to exercise such option (“Declined Proceeds”) may be retained by the Borrower to be used for any purpose not prohibited hereunder. 

2.06    [Reserved].  

2.07    Repayment of Loans. The Borrower shall repay to the Lenders on each date set forth below (or, if any such
date is not a Business Day, the immediately preceding Business Day) the principal amount of Term Loans set forth opposite such date below: 
  

					
	 Date
	  	Amount	 
	 June 30, 2017
	  	$	2,375,000	 
	 September 30, 2017
	  	$	2,375,000	 
	 December 31, 2017
	  	$	2,375,000	 
	 March 31, 2018
	  	$	2,375,000	 
	 June 30, 2018
	  	$	2,375,000	 
	 September 30, 2018
	  	$	2,375,000	 
	 December 31, 2018
	  	$	2,375,000	 
	 March 31, 2019
	  	$	2,375,000	 
	 June 30, 2019
	  	$	2,375,000	 
	 September 30, 2019
	  	$	2,375,000	 
	 December 31, 2019
	  	$	2,375,000	 
	 March 31, 2020
	  	$	2,375,000	 
	 June 30, 2020
	  	$	2,375,000	 
	 September 30, 2020
	  	$	2,375,000	 
	 December 31, 2020
	  	$	2,375,000	 
	 March 31, 2021
	  	$	2,375,000	 
	 June 30, 2021
	  	$	2,375,000	 
	 September 30, 2021
	  	$	2,375,000	 
	 December 31, 2021
	  	$	2,375,000	 
	 Maturity Date
	  	$	904,875,000	 

  
 54 

 provided, however, that the final principal repayment installment of the Term Loans shall be repaid
on the Maturity Date and in any event shall be in an amount equal to the aggregate principal amount of all Term Loans outstanding on such date. 

2.08    Interest. 

(a)    Subject to the provisions of subsection (b) below, (i) each Eurocurrency Rate Loan shall bear interest on the
outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurocurrency Rate for such Interest Period plus the Applicable Rate; and (ii) each Base Rate Loan shall bear interest on the outstanding
principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate. 

(b)    If any amount of principal or interest of any Loan (or any other Obligations) is not paid when due (without regard
to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by
applicable Laws. Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. 

(c)    Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at
such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law. 

2.09    Fees. 

(a)    The Borrower shall pay to the Arrangers and the Agents for their own respective accounts, in Dollars, fees in the
amounts and at the times specified in each of the Fee Letters. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 

(b)    If the Closing Date has not occurred on or prior to the date that is 31 days following the final allocation of the
Term Loan Facility (such date, the “Start Date”), the Borrower agrees to pay (or cause to be paid) to the Arrangers (for the benefit of each Lender that has been allocated a portion of the Term Loan Facility) a fee (the
“Ticking Fee”) in an amount equal to the sum of (a) for the period, if any, commencing on the Start Date and continuing through the earliest of (x) the date that is 61 days following the final allocation of the Term Loan
Facility (such date, the “Step-Up Date”), (y) the Closing Date and (z) May 1, 2017 (or if the 

  
 55 

 
Borrower has elected to extend the date set forth in Section 4.01(n), such date as so extended but in any event no later than August 1, 2017) (the “Termination Date”),
an amount equal to the product of (i) the aggregate principal amount of the commitments in respect of the Term Loan Facility that were so allocated multiplied by (ii) a per annum rate equal to 50.0% of the interest rate margin applicable
to Eurocurrency Rate Loans, plus (b) for the period, if any, after the Step-Up Date through and including the earlier of (x) the date that is 121 days following allocation of the Term Loan
Facility (the “Second Step-Up Date”), (y) the Closing Date and (z) the Termination Date, an amount equal to the product of (i) the aggregate principal amount of the commitments in
respect of the Term Loan Facility that were so allocated multiplied by (ii) 100% of the interest rate margin applicable to Eurocurrency Rate Loans, plus (c) for the period, if any, after the Second
Step-Up Date through and including the earlier of (x) the Closing Date and (y) the Termination Date, an amount equal to the product of (i) the aggregate principal amount of the commitments in
respect of the Term Loan Facility that were so allocated multiplied by (ii) 100% of the interest rate (including the interest rate margin) applicable to Eurocurrency Rate Loans (including the LIBOR “floor”). The Ticking Fee shall be
allocated among the Lenders that have been allocated a portion of the Term Loan Facility pro rata in accordance with their respective shares of the then-outstanding aggregate commitments in respect of the Term Loan Facility. The Ticking Fee shall be
payable on the earlier of (a) the Closing Date and (b) the Termination Date. 
 2.10    Computation of
Interest and Fees. All computations of interest for Base Rate Loans, where the rate of interest is calculated on the basis of the prime rate, shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed.
All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed. Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue
on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.12(a), bear interest for one day. Each
determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error. 

2.11    Evidence of Debt. The Borrowings made by each Lender shall be evidenced by one or more accounts or records
maintained by such Lender and by the Administrative Agent in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be conclusive absent manifest error of the amount of the Borrowings
made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect
to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent
shall control in the absence of manifest error. Upon the request of any Lender to the Borrower made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note, which shall
evidence such Lender’s Loans to the Borrower in addition to such accounts or records. Each Lender may attach schedules to a Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect
thereto. 

  
 56 

 2.12    Payments Generally; Administrative Agent’s Clawback. 

(a)    General. All payments to be made by the Borrower shall be made without condition or deduction for any
counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at
the applicable Administrative Agent’s Office in Dollars and in Same Day Funds not later than 2:00 p.m., New York City time, on the date specified herein. The Administrative Agent will promptly distribute to each Lender its Applicable Percentage
of such payment in like funds as received by wire transfer to such Lender’s Lending Office. All payments received by the Administrative Agent after 3:00 p.m., New York City time shall be deemed received on the next succeeding Business Day and
any applicable interest or fee shall continue to accrue. If any payment to be made by the Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be
reflected in computing interest or fees, as the case may be. 
 (b)    (i) Funding by Lenders; Presumption by
Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing of Eurocurrency Rate Loans (or, in the case of any Borrowing of Base Rate Loans, prior to 2:00 p.m., New
York City time, on the date of such Borrowing) that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on
such date in accordance with Section 2.02 (or, in the case of a Borrowing of Base Rate Loans, that such Lender has made such share available in accordance with and at the time required by
Section 2.02) and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the
Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount in Same Day Funds with interest thereon, for each day from and including the date such
amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made by such Lender, the Overnight Rate, and (B) in the case of a payment to be made by the
Borrower, the interest rate applicable to Base Rate Loans. If the Borrower and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the Borrower the
amount of such interest paid by the Borrower for such period. If such Lender pays its share of the applicable Borrowing to the Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included in such Borrowing. Any
payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent. 

(ii)    Payments by Borrower; Presumptions by Administrative Agent. Unless the Administrative Agent shall have
received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower
has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders the amount due. In such event, if the Borrower has 

  
 57 

 not in fact made such payment, then each of the Lenders severally agrees to repay to the Administrative Agent
forthwith on demand the amount so distributed to such Lender, in Same Day Funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the
Overnight Rate. 
 A notice of the Administrative Agent to any Lender or Borrower with respect to any amount owing under this subsection
(b) shall be conclusive, absent manifest error. 
 (c)    Failure to Satisfy Conditions Precedent. If any
Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender to the Borrower as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the
Administrative Agent because the conditions to the applicable Borrowing set forth in Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall promptly return such funds (in like funds as
received from such Lender) to such Lender, without interest. 
 (d)    Obligations of Lenders Several. The
obligations of the Lenders hereunder to make Loans and to make payments pursuant to Section 10.04(c) are several and not joint. The failure of any Lender to make any Term Loan or to make any payment under Section 10.04(c) on any
date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Term Loan or to make its payment under
Section 10.04(c). 
 (e)    Funding Source. Nothing herein shall be deemed to obligate any Lender to
obtain the funds for any Loan in any particular place or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 

2.13    Pro Rata; Sharing of Payments by Lenders. Except as otherwise expressly provided in this Agreement, each
payment (including each prepayment) by the Borrower on account of principal of and interest on any Term Loans shall be allocated by the Administrative Agent pro rata according to the respective outstanding principal amounts of such Loans then held
by the respective Lenders. If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of the Loans made by it resulting in such Lender’s receiving
payment of a proportion of the aggregate amount of such Loans or participations and accrued interest thereon greater than its pro rata share thereof as provided herein, then the Lender receiving such greater proportion shall
(a) notify the Administrative Agent of such fact and (b) purchase (for cash at face value) participations in the applicable Loans of the other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such
payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans and other amounts owing them, provided that: 

(a)    if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered,
such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and 

  
 58 

 (b)    the provisions of this Section shall not be construed to apply to
(i) any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement or (ii) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Term Loans
to any assignee or participant. 
 The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under
applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor
of the Borrower in the amount of such participation. 
 2.14    [Reserved]. 

2.15    Incremental Debt. 

(a)    Request for Incremental Facility. Upon notice (an “Incremental Facility Request”) to and
approval (not to be unreasonably withheld or delayed) of the Administrative Agent (who shall promptly notify the existing Lenders), the Borrower may, without the consent of any Lender, request to add one or more new incremental term loan facilities
(each an “Incremental Facility”) in aggregate principal amount, which when added to the aggregate principal amount of the other Incremental Debt outstanding does not exceed the Incremental Debt Cap; provided that (i) any
such request for an Incremental Facility shall be in a minimum amount equal to the lesser of (x) $25,000,000 and (y) the entire amount that remains available for request under this Section 2.15 and (ii) the
Borrower may make a maximum of five such requests. 
 (b)    Incremental Facility Request. Each Incremental
Facility Request from the Borrower shall set forth (i) the requested principal amount of the Incremental Facility and (ii) the proposed terms of the Incremental Facility (including its interest rate, amortization and any prepayment
premiums). An Incremental Facility may be provided by (A) an existing Lender (but no Lender shall be obligated to provide a commitment in respect of an Incremental Facility, nor shall the Borrower have any obligation to approach any existing
Lenders to provide a commitment in respect of an Incremental Facility) or (B) any other Incremental Lender so long as any such Person is approved by the Administrative Agent and any other Person who would have consent rights pursuant to
Section 10.06(b) if such Incremental Lender was becoming a Lender. Subject to any such consents being received and if not already a party hereto, any such Incremental Lender may become a party to this Agreement by entering into a joinder
agreement in form and substance reasonably satisfactory to the Administrative Agent. 
 (c)    Closing Date and
Allocations. In connection with any Incremental Facility, the Administrative Agent and the Borrower shall determine the effective date (the “Incremental Facility Effective Date”). The Administrative Agent shall promptly notify
the Borrower and the Lenders of the principal amount of the Incremental Facility and the Incremental Facility Effective Date. 

  
 59 

 (d)    Conditions to Effectiveness of Incremental Facility. The
effectiveness of each Incremental Facility shall be subject to the following conditions: 
 (i)    as of the
Incremental Facility Effective Date, (A) the representations and warranties contained in Article V (or, in the case of any Incremental Facility being requested in connection with a Permitted Acquisition, the Specified Representations and
Acquisition Agreement Representations in the Acquisition Agreement for such Permitted Acquisition) are true and correct in all material respects on and as of the Incremental Facility Effective Date, except to the extent that such representations and
warranties specifically refer to an earlier date, in which case they are true and correct in all material respects as of such earlier date, and (ii) (A) if such Incremental Facility is being requested in connection with a Permitted Acquisition,
no Event of Default under Sections 8.01(a), (f), or (g) has occurred or is continuing or would immediately result therefrom, unless such conditions would not be permitted by applicable Law (e.g., in an Australian
acquisition context), in which case the satisfaction of such conditions shall not be required, and (B) otherwise, no Default or Event of Default has occurred or is continuing or would immediately result therefrom; 

(ii)    such Incremental Facility shall have the same guarantees as, and be secured on a pari passu basis with,
the Secured Obligations; provided that, if agreed by the Borrower and the relevant Incremental Lenders, the Incremental Facility may be subject to lesser guarantees or be unsecured or less secured, or the Liens securing the Incremental
Facility may rank junior to the Liens securing the Term Loan Facility; 
 (iii)    such Incremental Facility shall
(A) have a final maturity no earlier than the Maturity Date, (B) have a weighted average life no shorter than that of the Term Loan Facility and any other Incremental Facilities outstanding and (C) not have any terms which require it
to be voluntarily or mandatorily prepaid prior to the repayment in full of the Term Loans (including any other Incremental Facilities), unless accompanied by at least a ratable payment of the Term Loans; 

(iv)    [reserved]; and 

(v)    to the extent such terms and documentation for the Incremental Facility are not substantially consistent with the
applicable Loan Documents, they shall be reasonably satisfactory to the Administrative Agent, unless such terms (A) are more favorable to the Borrower, taken as a whole, than the Loan Documents in respect of the Term Loan Facility (or the
Lenders under the Term Loan Facility receive the benefit of the more restrictive terms, which, for avoidance of doubt, may be provided to them without their consent), in each case, as certified by a Responsible Officer of the Borrower in good faith,
(B) concern pricing (including interest rates, rate floors, fees, OID or other fees), the amortization schedule, commitment reductions, prepayments and any prepayment premiums applicable to such Incremental Facility or (C) apply after the
applicable Maturity Date (it being understood to the extent that any financial maintenance covenant is added for the benefit of any such Incremental Facility, no consent shall be required from the Administrative Agent to the extent that such
financial maintenance covenant is also added for the benefit of the existing Term Loan facility and any existing Incremental facility existing at the time such subsequent Incremental Facility is incurred). 

(e)    Most Favored Nations. If any Incremental Facility is incurred after the Closing Date, in the event that the
Weighted Average Yield for any Incremental Facility exceeds the 

  
 60 

 
Weighted Average Yield for the Term Loan Facility by more than 50 basis points (the “Excess”), then the interest rate margins for the Term Loan shall be increased to the extent
necessary to eliminate such Excess; provided that, in determining the Weighted Average Yield applicable to the Incremental Facility and the Term Loan Facility, (i) customary arrangement, structuring or commitment fees payable to the Arrangers
or any bookrunner (or their respective affiliates) in connection with the Term Loan or to one or more arrangers or bookrunners (or their respective affiliates) of any Incremental Facility shall be excluded, (ii) OID and upfront fees paid to the
lenders thereunder shall be included (with OID being equated to interest based on an assumed four-year life to maturity or, if shorter, the actual weighted average life to maturity) and (iii) if the Incremental Facility includes an interest
rate floor greater than the applicable interest rate floor under the existing Term Loan Facility, such differential between interest rate floors shall be equated to the applicable interest rate margin for purposes of determining whether an increase
to the interest rate margin under the existing Term Loan Facility shall be required, but only to the extent an increase in the interest rate floor in the existing Term Loan Facility would cause an increase in the interest rate then in effect
thereunder, and in such case the interest rate floor (but not the interest rate margin) applicable to the existing Term Loan Facility may be increased to the extent necessary in respect of such differential between interest rate floors; provided
that each basis point increase to the interest rate floor of the Term Loans shall count as one basis point of increase in the interest rate margin to the Term Loans for purposes of eliminating the Excess. 

(f)    Amendment. With the consent of the Lenders providing an Incremental Facility, the Borrower and the
Administrative Agent (and without the consent of the other Lenders), this Agreement shall be amended in a writing (which may be executed and delivered by the Borrower and the Administrative Agent) to reflect any changes necessary to give effect to
such Incremental Facility in accordance with its terms (including, without limitation, to give such Incremental Facility the benefits of Section 2.05, as applicable). 

(g)    Conflicting Provisions. This Section shall supersede any provisions in
Section 2.13 to the contrary. 
 2.16    Refinancing Debt. 

(a)    Refinancing Facility. The Borrower may, without the consent of any Lender, extend, refinance, renew or
replace, in whole or in part, the Loans under any Facility with one or more term loan facilities (each, a “Refinancing Facility”); provided that any such request for an Refinancing Facility shall be in a minimum amount equal
to the lesser of (i) $25,000,000 and (ii) the entire amount of any Facility which is being extended, refinanced, renewed or replaced under this Section 2.16. 

(b)    Refinancing Facility Lender. A Refinancing Facility may be provided by (i) an existing Lender (but no
Lender shall be obligated to provide a commitment in respect of a Refinancing Facility, nor shall the Borrower have any obligation to approach any existing Lenders to provide a commitment in respect of a Refinancing Facility) or (ii) any other
Refinancing Facility Lender so long as any such Person is approved by the Administrative Agent and any other Person who would have consent rights pursuant to Section 10.06(b) if such Refinancing Facility Lender was becoming a Lender.
Subject to any such consents being 

  
 61 

 
received and if not already a party hereto, any such Refinancing Facility Lender may become a party to this Agreement by entering into a joinder agreement in form and substance reasonably
satisfactory to the Administrative Agent. 
 (c)    Effective Date. In connection with any Refinancing Facility,
the Administrative Agent and the Borrower shall determine the effective date (the “Refinancing Facility Effective Date”). The Administrative Agent shall promptly notify the Borrower and the Lenders of the principal amount of the
Refinancing Facility and the Refinancing Facility Effective Date. 
 (d)    Conditions to Effectiveness of
Refinancing Facility. The effectiveness of each Refinancing Facility shall be subject to the following conditions: 

(i)    the aggregate principal amount (or accreted value, if applicable) of any Refinancing Facility will not exceed the
outstanding aggregate principal amount (or accreted value, if applicable) of any Facility which it is extending, refinancing, renewing or replacing plus any Permitted Refinancing Increase, unless such additional principal amount would
otherwise be permitted pursuant to (and any such additional amount shall be deemed to have been incurred under) Section 7.03 and, if applicable, Section 7.01; 

(ii)    such Refinancing Facility shall have the same guarantees as, and be secured on a pari passu basis with,
the Secured Obligations; provided that, if agreed by the Borrower and the relevant Refinancing Facility Lenders, the Refinancing Facility may be subject to lesser guarantees or be unsecured or less secured, or the Liens securing the
Refinancing Facility may rank junior to the Liens securing the Term Loan Facility; 
 (iii)    such Refinancing
Facility (A) shall have (1) a final maturity no earlier than the Maturity Date and (2) a weighted average life no shorter than that of the Term Loan Facility and (B) shall not have any terms which require it to be voluntarily or
mandatorily prepaid prior to the repayment in full of the Term Loans, unless accompanied by at least a ratable payment of the Term Loans; 

(iv)    [reserved]; and 

(v)    to the extent such terms and documentation for the Refinancing Facility are not substantially consistent with the
applicable Loan Documents, they shall be reasonably satisfactory to the Administrative Agent, unless such terms (A) are more favorable to the Borrower, taken as a whole, than the Loan Documents in respect of the Term Loan Facility (or the
Lenders under the Term Loan Facility receive the benefit of the more restrictive terms, which, for avoidance of doubt, may be provided to them without their consent), in each case, as certified by a Responsible Officer of the Borrower in good faith,
(B) concern pricing (including interest rates, rate floors, fees, OID or other fees), the amortization schedule, commitment reductions, prepayments and any prepayment premiums applicable to such Refinancing Facility or (C) apply after the
Maturity Date. 
 (e)    Amendment. With the consent of the Lenders providing a Refinancing Facility, the
Borrower and the Administrative Agent (and without the consent of the other Lenders), this Agreement shall be amended in a writing (which may be executed and delivered by the Borrower 

  
 62 

 
and the Administrative Agent) to reflect any changes necessary to give effect to such Refinancing Facility in accordance with its terms (including, without limitation, to give such Refinancing
Facility the benefits of Section 2.05, as applicable). 
 (f)    Conflicting
Provisions. This Section shall supersede any provisions in Section 2.13 to the contrary. 

2.17    [Reserved]. 

2.18    Defaulting Lenders. Notwithstanding anything contained in this Agreement to the contrary, if any Lender
becomes a Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable Law: 

(a)    Reallocation of Loan Payments. Any payment or prepayment (i) of any portion of the principal amount of
Loans of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise) shall be applied, first, to the then outstanding amounts (including interest thereon) owed under the terms hereof by
such Defaulting Lender to the Administrative Agent or (to the extent the Administrative Agent has received notice thereof) to any other Lender, ratably to the Persons entitled thereto, and second, the balance, if any, to such Defaulting
Lender or as otherwise directed by a court of competent jurisdiction, and (ii) of any other amounts thereafter received by the Administrative Agent for the account of such Defaulting Lender (including amounts made available to the
Administrative Agent by such Defaulting Lender pursuant to Section 10.08) to have been paid to such Defaulting Lender and applied on behalf of such Defaulting Lender, first, to the liabilities above referred to in
item first of clause (i) above, and second, the balance, if any, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction. Any of such amounts as are reallocated pursuant to this Section
2.18(a) that are payable or paid (including pursuant to Section 10.08) to such Defaulting Lender shall be deemed paid to such Defaulting Lender and applied by the Administrative Agent on behalf of such Defaulting
Lender, and each Lender hereby irrevocably consents thereto. 
 (b)    [Reserved]. 

(c)    [Reserved]. 

A Lender that has become a Defaulting Lender because of an event referenced in the definition of Defaulting Lender may cure such status and
shall no longer constitute a Defaulting Lender as a result of such event when (i) such Defaulting Lender shall have fully funded or paid, as applicable, all Loans or other amounts required to be funded or paid by it hereunder as to which it is
delinquent (together, in each case, with such interest thereon as shall be required to any Person as otherwise provided in this Agreement), (ii) the Administrative Agent and each of the Borrower shall have received a certification by such Defaulting
Lender of its ability and intent to comply with the provisions of this Agreement going forward, and (iii) each of the Administrative Agent, any other Lender as to which a delinquent obligation was owed and the Borrower, shall have determined
(and notified the Administrative Agent) that they are satisfied, in their sole discretion, that such Defaulting Lender intends to continue to perform its obligations 

  
 63 

 
as a Lender hereunder and has all approvals required to enable it, to continue to perform its obligations as a Lender hereunder. No reference in this subsection to an event being
“cured” shall by itself preclude any claim by any Person against any Lender that becomes a Defaulting Lender for such damages as may otherwise be available to such Person arising from any failure to fund or pay any amount when due
hereunder or from any other event that gave rise to such Lender’s status as a Defaulting Lender. 

2.19    Dutch Auction Repurchases. 

(a)    Notwithstanding anything to the contrary contained in this Agreement, the Borrower and its Subsidiaries may at any
time and from time to time purchase Term Loans, Incremental Term Loans and Refinancing Term Loans by conducting modified Dutch auctions (each, an “Auction”) (each Auction to be managed exclusively by the Administrative Agent or
another investment bank of recognized standing elected by the Borrower following consultation with the Administrative Agent in accordance with the Auction Procedures (in such capacity, the “Auction Manager”)), so long as the
following conditions are satisfied: 
 (i)    no Default or Event of Default shall have occurred and be continuing at
the time of the purchase of any Term Loans, Incremental Term Loans and Refinancing Term Loans in connection with any Auction; 

(ii)    the minimum principal amount (calculated on the face amount thereof) of all Term Loans, Incremental Term Loans
and Refinancing Term Loans that the Borrower purchases in any such Auction shall be no less than $1,000,000 and whole increments of $500,000 in excess thereof (unless another amount is agreed to by the Administrative Agent and Auction Manager); 

(iii)    the aggregate principal amount (calculated on the face amount thereof) of all Term Loans, Incremental Term Loans
and Refinancing Term Loans so purchased by the Borrower or its Subsidiaries shall immediately and automatically be cancelled and retired by them on the settlement date of the relevant purchase (and may not be resold); 

(iv)    the Borrower will promptly advise the Administrative Agent of the total amount of all Term Loans, Incremental
Term Loans and Refinancing Term Loans so purchased by the Borrower or its Subsidiaries and the Administrative Agent is authorized to make appropriate entries in the Register to reflect such cancellation and retirement; and 

(v)    no more than one Auction may be ongoing at any one time. 

(b)    The Borrower shall have no liability to any Lender for any termination of the respective Auction as a result of its
failure to satisfy one or more of the conditions set forth above which are required to be met at the time which otherwise would have been the time of purchase of Term Loans, Incremental Term Loans or Refinancing Term Loans pursuant to the respective
Auction, and any such failure shall not result in any Default hereunder. With respect to all purchases of Term Loans, Incremental Term Loans and Refinancing Term Loans made by the Borrower pursuant to this Section 2.19, (i)
the Borrower shall pay on the settlement date of each such purchase all accrued and unpaid interest (except to the extent otherwise set forth in the 

  
 64 

 
relevant offering documents), if any, on the purchased Term Loans, Incremental Term Loans and Refinancing Term Loans up to the settlement date of such purchase and (ii) such purchases (and
the payments made by the Borrower or its Subsidiaries and the cancellation of the purchased Term Loans, Incremental Term Loans or Refinancing Loans, in each case, in connection therewith) shall not constitute voluntary or mandatory payments or
prepayments for purposes of Sections 2.05 or 2.07. 
 (c)    The Administrative Agent and the Lenders
hereby consent to the Auctions and the other transactions contemplated by this Section 2.19 (provided that no Lender shall have an obligation to participate in any such Auctions) and hereby waive the requirements of
any provision of this Agreement (including, without limitation, Sections 2.05, 2.07, 2.12, 2.13 and 10.06, it being understood and acknowledged that purchases of the Term Loans, Incremental Term Loans and
Refinancing Term Loans by the Borrower or its Subsidiaries contemplated by this Section 2.19 shall not constitute Investments by the Borrower) that may otherwise prohibit any Auction or any other transaction contemplated by
this Section 2.19. The Auction Manager acting in its capacity as such hereunder shall be entitled to the benefits of the provisions of Article IX and Section 10.04 mutatis mutandis as if
each reference therein to the “Administrative Agent” were a reference to the Auction Manager, and the Administrative Agent shall cooperate with the Auction Manager as reasonably requested by the Auction Manager in order to enable it to
perform its responsibilities and duties in connection with each Auction. 
 2.20    Open Market Repurchases. 

(a)    Notwithstanding anything to the contrary contained in this Agreement, the Borrower and its Subsidiaries may at any
time and from time to time make open market purchases of Term Loans, Incremental Term Loans and Refinancing Term Loans (each, an “Open Market Purchase”), so long as no Default or Event of Default shall have occurred and be
continuing on the time of such Open Market Purchase. 
 (b)    The aggregate principal amount (calculated on the face
amount thereof) of all Term Loans, Incremental Term Loans and Refinancing Term Loans so purchased by the Borrower or its Subsidiaries shall immediately and automatically be cancelled and retired by them on the settlement date of the relevant
purchase (and may not be resold). 
 (c)    The Borrower will promptly advise the Administrative Agent of the total
amount of all Term Loans, Incremental Term Loans and Refinancing Term Loans so purchased by the Borrower or its Subsidiaries and the Administrative Agent is authorized to make appropriate entries in the Register to reflect such cancellation and
retirement. 
 (d)    With respect to all purchases of Term Loans, Incremental Term Loans and Refinancing Term Loans
made by the Borrower pursuant to this Section 2.20, (i) the Borrower or its Subsidiaries shall pay on the settlement date of each such purchase all accrued and unpaid interest, if any, on the purchased Term Loans,
Incremental Term Loans and Refinancing Term Loans up to the settlement date of such purchase (except to the extent otherwise set forth in the relevant purchase document as agreed by the respective selling Lender) and (ii) such purchases (after
the payments made by the Borrower or its Subsidiaries and the cancellation of the purchased Term Loans, Incremental Term Loans and Refinancing Term Loans, in each case in connection therewith) shall not constitute voluntary or mandatory payments or
prepayments for purposes of Sections 2.05 or 2.07. 

  
 65 

 (e)    The Administrative Agent and the Lenders hereby consent to the Open
Market Purchases contemplated by this Section 2.20 and hereby waive the requirements of any provision of this Agreement (including, without limitation, Sections 2.05, 2.07, 2.12, 2.13 and
10.06, it being understood and acknowledged that purchases of the Term Loans, Incremental Term Loans and Refinancing Term Loans by the Borrower or its Subsidiaries contemplated by this Section 2.20 shall not
constitute Investments by the Borrower or its Subsidiaries) that may otherwise prohibit any Open Market Purchase by this Section 2.20. 

ARTICLE III. 
 TAXES,
YIELD PROTECTION AND ILLEGALITY 
 3.01    Taxes. 

(a)    Payments Free of Taxes. Any and all payments by or on behalf of any Loan Party hereunder or under any other
Loan Document shall be made free and clear of and without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as determined in the good faith of the applicable withholding agent) requires the
deduction or withholding of any Tax from any such payment by a withholding agent, then the applicable withholding agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant
Governmental Authority in accordance with applicable law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Loan Party shall be increased as necessary so that after such deduction or withholding has been made (including
such deductions and withholdings applicable to additional sums payable under this Section 3.01(a)) the Administrative Agent or Lender, as the case may be, receives an amount equal to the sum it would have received had no such deductions or
withholdings been made. 
 (b)    Payment of Other Taxes by the Borrower. Without duplication of any obligation
set forth in subsection (a) above, the Loan Parties shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law, or at the option of the Administrative Agent timely reimburse it for the payment of
any Other Taxes. 
 (c)    Indemnification by the Borrower. The Loan Parties shall jointly and severally
indemnify the Administrative Agent and each Lender within 10 days after demand therefor for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section) payable
or paid by, or required to be withheld or deducted from a payment to, the Administrative Agent or such Lender, as the case may be, on or with respect to any payment made by or on account of any obligation of the Loan Parties under any Loan Document,
and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability
delivered to the Borrower by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error. 

  
 66 

 (d)    Evidence of Payments. As soon as practicable after any payment
of Taxes by any Loan Party to a Governmental Authority pursuant to this Section 3.01, the applicable Loan Party shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority
evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 

(e)    Status of Lenders. Any Lender that is entitled to an exemption from or reduction of withholding tax with
respect to payments hereunder or under any other Loan Document shall deliver to the Borrower (with a copy to the Administrative Agent), at the time or times prescribed by applicable law and from time to time when reasonably requested by the Borrower
or the Administrative Agent, such properly completed and executed documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a
reduced rate of withholding. In addition, any Lender, if requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent
as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. 

Each Lender that is not a Foreign Lender shall deliver to the Borrower and Administrative Agent on or prior to the date on which such Lender
becomes a Lender under this Agreement (and from time to time thereafter as prescribed by applicable law or upon the reasonable request of the Borrower or Administrative Agent), two duly completed and executed copies of IRS Form W-9. 
 Without limiting the generality of the foregoing, each Foreign Lender holding any Loan to the
Borrower shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the request of the Borrower or the Administrative
Agent, but only if such Foreign Lender is legally entitled to do so), two copies of whichever of the following is applicable or any subsequent version thereof or successor thereto: 

(i)    in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a
party (x) with respect to payments of interest under any Loan Document, duly completed and executed copies of IRS Form W-8BEN or IRS
W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty
and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or IRS W-8BEN-E, as
applicable, establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty, 

(ii)    duly completed and executed copies of IRS Form W-8ECI, 

(iii)    in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest
under Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit M-1 to the effect that such Foreign Lender is not (A) a “bank” within the meaning of
Section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of the Borrower within the 

  
 67 

 
meaning of Section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance
Certificate”) and (y) duly completed and executed copies of IRS Form W-8BEN or W-8BEN-E, as applicable, 

(iv)    to the extent a Foreign Lender is not the beneficial owner, duly completed and executed copies of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN or IRS Form
W-8BEN-E, as applicable, a U.S. Tax Compliance Certificate substantially in the form of Exhibit M-2 or Exhibit M-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more
direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit M-4 on
behalf of each such direct and indirect partner, and 
 (v)    duly completed and executed copies of any other form
prescribed by applicable law as a basis for claiming exemption from or a reduction in United States Federal withholding tax duly completed and executed together with such supplementary documentation as may be prescribed by applicable law to permit
the Borrower or Administrative Agent to determine the withholding or deduction required to be made; provided, that notwithstanding anything to the contrary in this Section 3.01(e), the completion, execution and submission of the documentation
described in this clause (v) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the
legal or commercial position of such Lender. 
 If a payment made to a Lender under any Loan Document would be subject to U.S. federal
withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the
Borrower and the Administrative Agent at the time or times prescribed by law and at such time or times as reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by
Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under FATCA
and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for the purposes of this paragraph, “FATCA” shall include any
amendments made to FATCA after the date of this Agreement. 
 Each Lender agrees that if any form or certification it previously delivered
expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so. 

Notwithstanding the foregoing, no Lender nor any Participant shall be required to deliver any form or other document under this Section
3.01(e) that it is not legally entitled to deliver. 

  
 68 

 (f)    Treatment of Certain Refunds. If the Administrative Agent or
any Lender receives a refund with respect to Taxes to which it has been indemnified pursuant to this Section 3.01 (including by the payment of additional amounts pursuant to this Section 3.01), which in the reasonable discretion and good
faith judgment of such Administrative Agent or Lender is allocable to such payment, it shall promptly pay such refund (but only to the extent of indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of
all out-of-pocket expenses (including Taxes) of such Administrative Agent or Lender incurred in obtaining such refund and without interest (other than any interest paid
by the relevant Governmental Authority with respect to such refund); provided, however, that the Borrower agrees to promptly return such amount, net of any incremental additional costs (plus any penalties, interest or other
charges imposed by the relevant Governmental Authority), to the applicable Administrative Agent or Lender, as the case may be, if it receives notice from the applicable Administrative Agent or Lender that such Administrative Agent or Lender is
required to repay such refund to the relevant Governmental Authority. Notwithstanding anything to the contrary in this paragraph (f), in no event will the Administrative Agent or any Lender be required to pay any amount to the Borrower pursuant to
this paragraph (f) the payment of which would place the Administrative Agent or any Lender in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to
indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This subsection shall not be construed to
require the Administrative Agent or any Lender to make available its tax returns (or any other information relating to its taxes that it deems confidential) to the Borrower or any other Person. 

(g)    Survival. Each party’s obligations under this Section 3.01 shall survive the resignation or
replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all obligations under any Loan Document. 

3.02    Illegality. If any Lender determines that as a result of any Change in Law it becomes unlawful, or
that any Governmental Authority asserts that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund Eurocurrency Rate Loans, or to determine or charge interest rates based upon the Eurocurrency Rate, or any
Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the applicable interbank market, then, on notice thereof by such Lender to the Borrower through the
Administrative Agent, (a) any obligation of such Lender to make or continue Eurocurrency Rate Loans or to convert Base Rate Loan to Eurocurrency Rate Loans, shall be suspended and (b) if such notice asserts the illegality of such Lender
making or maintaining Base Rate Loans the interest rate on which is determined by reference to the Eurocurrency Rate component of the Base Rate, the interest rate on Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be
determined by the Administrative Agent without reference to the Eurocurrency Rate component of the Base Rate, in each case, until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination
no longer exist. Upon receipt of such notice, (i) the Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or convert all such Eurocurrency Rate Loans of such Lender to Base Rate Loans (the interest
rate on Base Rate 

  
 69 

 
Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Eurocurrency Rate component of the Base Rate), either on the
last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurocurrency Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Eurocurrency Rate Loans and (ii) if
such notice asserts the illegality of such Lender determining or charging interest rates based upon the Eurocurrency Rate, the Administrative Agent shall during the period of such suspension compute the Base Rate applicable to such Lender without
reference to the Eurocurrency Rate component thereof until the Administrative Agent is advised in writing by such Lender, which it shall do as promptly as possible, that it is no longer illegal for such Lender to determine or charge interest rates
based upon the Eurocurrency Rate. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted. 

3.03    Inability to Determine Rates. If the Required Lenders determine that for any reason in connection with any
request for a Eurocurrency Rate Loan or a conversion to or continuation thereof that (a) adequate and reasonable means do not exist for determining the Eurocurrency Rate for any requested Interest Period with respect to a proposed Eurocurrency
Rate Loan, or (b) the Eurocurrency Rate for any requested Interest Period with respect to a proposed Eurocurrency Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Eurocurrency Rate Loan, the
Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, (i) the obligation of the Lenders to make or maintain Eurocurrency Rate Loans in the affected currency or currencies shall be suspended and (ii) in the
event of a determination described in the preceding sentence with respect to the Eurocurrency Rate component of the Base Rate, the utilization of the Eurocurrency Rate component in determining the Base Rate shall be suspended, in each case, until
the Administrative Agent (upon the instruction of the Required Lenders, who agree to so instruct the Administrative Agent once the circumstances giving rise to the inability ability to determine rates no longer exist) revokes such notice. Upon
receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurocurrency Rate Loans or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base
Rate Loans in the amount specified therein. 
 3.04    Increased Costs; Reserves on Eurocurrency Rate Loans. 

(a)    Increased Costs Generally. If any Change in Law shall: 

(i)    impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar
requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement reflected in the Eurocurrency Rate contemplated by Section 3.04(e)); 

(ii)    subject to any Lender or the Administrative Agent to any Taxes (other than Indemnified Taxes or Excluded Taxes)
on its loans, loan principal, letters of credit, commitments, or other obligations or its deposits, reserves, other liabilities or capital attributable thereto; or 

  
 70 

 (iii)    impose on any Lender or the London interbank market any other
condition, cost or expense affecting this Agreement or Eurocurrency Rate Loans made by such Lender; 
 and the result of any of the foregoing shall be to
increase the cost to such Lender of making or maintaining any Eurocurrency Rate Loan (or of maintaining its obligation to make any such Loan), or to increase the cost to such Lender, or to reduce the amount of any sum received or receivable by such
Lender (whether of principal, interest or any other amount) then, upon written request of such Lender setting forth in reasonable detail such increased costs, the Borrower will pay to such Lender such additional amount or amounts as will compensate
such Lender for such additional costs incurred or reduction suffered; provided that before making any such demand, each Lender agrees to use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions and so
long as such efforts would not be materially disadvantageous to it, in its reasonable discretion, in any legal, economic or regulatory manner) to designate a different Eurocurrency lending office if the making of such designation would allow the
Lender or its Eurocurrency lending office to continue to perform its obligation to make Eurocurrency Rate Loans or to continue to fund or maintain Eurocurrency Rate Loans and avoid the need for, or reduce the amount of, such increased cost. 

(b)    Capital Requirements. If any Lender reasonably determines that any Change in Law affecting such Lender or
any Lending Office of such Lender or such Lender’s holding company, if any, regarding capital requirements has the effect of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if
any, as a consequence of this Agreement, the Commitments of such Lender or the Loans made by such Lender to a level below that which such Lender or such Lender’s holding company could have achieved but for such Change in Law (taking into
consideration such Lender’s policies and the policies of such Lender’s holding company with respect to capital adequacy), then from time to time, after submission to the Borrower (with a copy to the Administrative Agent) of a written
request therefor setting forth in reasonable detail the change and the calculation of such reduced rate of return, the Borrower will pay to such Lender such additional amount or amounts as will compensate such Lender or such Lender’s holding
company for any such reduction suffered. 
 (c)    Certificates for Reimbursement. A certificate of a Lender
setting forth the amount or amounts necessary to compensate such Lender or its holding company, as the case may be, as specified in subsection (a) or (b) of this Section, describing the basis therefor and showing the calculation thereof in
reasonable detail, and delivered to the Borrower shall be conclusive, absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 30 days after receipt thereof. 

(d)    Delay in Requests. Failure or delay on the part of any Lender to demand compensation pursuant to the
foregoing provisions of this Section shall not constitute a waiver of such Lender’s right to demand such compensation, provided that the Borrower shall not be required to compensate a Lender pursuant to the foregoing provisions of this
Section for any increased costs incurred or reductions suffered more than 90 days prior to the date that such Lender notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s intention to
claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 90-day period referred to above shall be extended to include the period
of retroactive effect thereof). 

  
 71 

 (e)    Additional Reserve Requirements. The Borrower shall pay to each
Lender, (i) as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”),
additional interest on the unpaid principal amount of each Eurocurrency Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as reasonably determined by such Lender in good faith, which determination shall be
conclusive, absent manifest error), and (ii) as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the
maintenance of the Commitments or the funding of the Eurocurrency Rate Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to
such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive, absent manifest error), which in each case shall be due and payable on each date on which interest is payable on such
Loan, provided the Borrower shall have received at least 10 Business Days’ prior notice (with a copy to the Administrative Agent) of such additional interest or costs from such Lender describing the basis therefor and showing the
calculation thereof, in each case, in reasonable detail. If a Lender fails to give notice 10 Business Days prior to the relevant Interest Payment Date, such additional interest or costs shall be due and payable within 30 days from receipt of such
notice. 
 (f)    Certain Rules Relating to the Payment of Additional Amounts. If any Lender requests
compensation pursuant to this Section 3.04, or the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to
Section 3.01, or if any Lender gives a notice pursuant to Section 3.02, such Lender shall either (A) forego payment of such additional amount from the Borrower or (B) reasonably afford
the Borrower the opportunity to contest, and reasonably cooperate with the Borrower in contesting, the imposition of any Indemnified Taxes or other amounts giving rise to such payment; provided that the Borrower shall reimburse such Lender
for its reasonable and documented out-of-pocket costs, including reasonable and documented attorneys’ and accountants’ fees and disbursements incurred in so
cooperating with the Borrower in contesting the imposition of such Indemnified Taxes or other amounts. 

3.05    Compensation for Losses. Upon demand of any Lender (with a copy to the Administrative Agent) from
time to time, the Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: 

(a)    any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the
last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); 

(b)    any failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow,
continue or convert any Loan other than a Base Rate Loan on the date or in the amount notified by the Borrower; 

  
 72 

 (c)    [reserved]; or 

(d)    any assignment of a Eurocurrency Rate Loan on a day other than the last day of the Interest Period therefor as a
result of a request by the Borrower pursuant to Section 10.13; 
 including any foreign exchange losses and any loss or expense
arising from the liquidation or reemployment of funds obtained by it to maintain such Loan, from fees payable to terminate the deposits from which such funds were obtained or from the performance of any foreign exchange contract, but excluding any
loss of anticipated profits. The Borrower shall also pay any customary administrative fees charged by such Lender in connection with the foregoing. 

For purposes of calculating amounts payable by the Borrower to the Lenders under this Section 3.05, each Lender
shall be deemed to have funded each Eurocurrency Rate Loan made by it at the Eurocurrency Rate used in determining the Eurocurrency Rate for such Loan by a matching deposit or other borrowing in the offshore interbank market for such currency for a
comparable amount and for a comparable period, whether or not such Eurocurrency Rate Loan was in fact so funded. 

3.06    Mitigation Obligations; Replacement of Lenders. 

(a)    Designation of a Different Lending Office. If any Lender requests compensation under
Section 3.04, or the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, or if any Lender gives a
notice pursuant to Section 3.02, then such Lender shall (i) use reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to
another of its offices, branches or affiliates, if, in the reasonable judgment of such Lender, such designation or assignment (A) would eliminate or reduce amounts payable pursuant to Section 3.01 or 3.04, as
the case may be, in the future, or eliminate the need for the notice pursuant to Section 3.02, as applicable, and (B) in each case, would not subject such Lender to any unreimbursed cost or expense and would not
otherwise be disadvantageous to such Lender and (ii) promptly inform the Borrower and Administrative Agent when the circumstances giving rise to the applicability of such Sections no longer exists. The Borrower hereby agrees to pay all
reasonable and documented costs and expenses incurred by any Lender in connection with any such designation or assignment. 

(b)    Replacement of Lenders. If any Lender requests compensation under Section 3.04, if
the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, if any Lender gives a notice pursuant to
Section 3.02 or if any Lender is at such time a Defaulting Lender, then the Borrower may replace such Lender in accordance with Section 10.13. 

3.07    Survival. The parties’ obligations under this Article III shall survive termination of the
Aggregate Commitments and repayment of all other Obligations hereunder. 

  
 73 

 ARTICLE IV. 

CONDITIONS PRECEDENT 

4.01    Closing Date. The effectiveness of this Agreement is subject to satisfaction of the following conditions
precedent: 
 (a)    The Administrative Agent’s receipt of the following, each of which shall be
(w) originals, telecopies or electronic copies (followed promptly by originals), (x) properly executed by a duly authorized officer of the signing Loan Party, if and as applicable, (y) dated on or before the Closing Date (or, in the case
of certificates of governmental officials, a recent date before the Closing Date) and (z) in form and substance reasonably satisfactory to the Administrative Agent and, in the case of Security Documents, the Collateral Trustee: 

(i)    executed counterparts of (a) this Agreement from the parties hereto, (b) the Guaranty from each of the
Loan Parties, and (c) the Collateral Trust Agreement from the Borrower, each of the Guarantors, the Administrative Agent, the Priority Lien Notes Trustee, the Collateral Trustee, the Junior Collateral Trustee and the other parties thereto; 

(ii)    Notes executed by the Borrower in favor of each Lender requesting Notes; 

(iii)    the Gibraltar Pledge Agreement, duly executed by each party thereto, together with: 

(1)    to the extent that any Capital Stock pledged pursuant to the Gibraltar Pledge Agreement is certificated and
required to be delivered thereunder, the original share certificates for such Capital Stock accompanied by undated share transfer forms or other approved or instruments of transfer executed in blank, 

(2)    financing statements in form appropriate for filing in the Office of Recorder of Deeds in the District of Columbia
with respect to the Gibraltar Pledge Agreement in order to perfect the Liens created under the Gibraltar Pledge Agreement, 

(3)    results of recent lien searches (or their equivalent under the Laws of Gibraltar) with respect to Gibraltar
Holdings in the jurisdiction in which such Person is organized and the District of Columbia; 
 (4)    an irrevocable
proxy and power of attorney in favor of the Collateral Trustee and granted pursuant to the Gibraltar Pledge Agreement; and 

(5)    any documents that are required to be delivered under the Gibraltar Pledge Agreement. 

(iv)    such certificates of resolutions or other action, incumbency certificates and/or other certificates of duly
authorized officers of each Loan Party and each Restricted Subsidiary party to a Loan Document, in each case, as the Administrative Agent may reasonably require evidencing the identity, authority and capacity of each officer of each Loan Party or
Restricted Subsidiary executing the Loan Documents to which each Loan Party or Restricted Subsidiary is a party; 

  
 74 

 (v)    such documents and certifications as the Administrative Agent may
reasonably require to evidence that each Loan Party is duly organized or formed, and that each Loan Party is validly existing, in good standing and qualified to engage in business in each jurisdiction where its ownership, lease or operation of
properties or the conduct of its business requires such qualification, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; 

(vi)    the executed opinion of Jones Day, counsel to the Borrower and special New York counsel to the other Loan
Parties, addressed to the Administrative Agent, the Collateral Trustee and each Lender, as to the matters set forth in Exhibit H-1; 

(vii)    [reserved]; 

(viii)    the executed opinion of Triay Stagnetto Neish, special Gibraltar counsel to the Loan Parties, addressed to the
Administrative Agent, the Collateral Trustee and each Lender, as to the matters set forth in Exhibit H-2; 

(ix)    the executed opinion of Bingham Greenebaum Doll LLP, special Indiana counsel to the Loan Parties, addressed to
the Administrative Agent, the Collateral Trustee and each Lender, as to the matters set forth in Exhibit H-3; 

(x)    [reserved]; 

(xi)     a certificate of a Responsible Officer either (A) attaching copies of all material consents, licenses and
approvals required in connection with the execution, delivery and performance by each Loan Party and the validity against such Loan Party of the Loan Documents to which it is a party, and such consents, licenses and approvals shall be in full force
and effect or (B) stating that no such consents, licenses or approvals are so required; 
 (xii)    (i) the
Audited Financial Statements, (ii) unaudited consolidated financial statements (each of which shall have undergone a SAS 100 review) for each of the first three fiscal quarters of the fiscal year ending December 31, 2016 (and the
corresponding period of the preceding fiscal year) prepared in accordance with GAAP, (iii) an unaudited pro forma consolidated balance sheet and income statement of the Borrower as of December 31, 2016 and for the four-quarter period then
ended, giving effect to the effectiveness of the Plan of Reorganization and the Transactions (including the adoption of fresh-start accounting) as if the effectiveness of the Plan of Reorganization and the Transactions had occurred as of such date
(in the case of the balance sheet) or at the beginning of such period (in the case of the income statements), in the case of each of clauses (i) through (iii), meeting the requirements of Regulation S-X
under the Securities Act of 1933 (as amended) and (iv) financial projections (including the assumption on which such projections are based) for fiscal years 2017 through 2021; 

(xiii)    a certificate signed by a Responsible Officer of the Borrower certifying (A) that the conditions specified
in Sections 4.01(d), (j), (l) (solely with respect to clauses (a) and (e) thereof) and (m) and 4.02(a) and (b) have been satisfied, and (B) that there has not occurred since
December 31, 2016, any Closing Date Material Adverse Effect; 

  
 75 

 (xiv)    a solvency certificate from the chief financial officer of the
Borrower in the form of Exhibit K, which demonstrates that the Borrower and its Restricted Subsidiaries on a consolidated basis, are, and after giving effect to the Transactions and the other transactions contemplated hereby, will be, Solvent. 

(b)    [Reserved]. 

(c)    (i) Not less than 15 business days prior to the Closing Date, the Borrower shall have obtained (a) a public
corporate credit rating from Moody’s, (b) a private indicative corporate credit rating from S&P, (c) a public credit rating for the Term Loans and the Priority Lien Notes from Moody’s and (d) a private indicative credit
rating for the Term Loans and the Priority Lien Notes from S&P; and (ii) on or prior to the Closing Date, the Borrower shall have obtained public corporate credit ratings or public credit ratings, as applicable, from S&P consistent with
the ratings obtained in the foregoing clause (i). 
 (d)    The Borrower and its Restricted Subsidiaries shall have
complied in all material respects with all state and federal regulations regarding bonding requirements. 
 (e)    The
Arrangers shall have consented (such consent not to be unreasonably withheld, conditioned or delayed) to any material claim settlement, including but not limited to, any allowance of or settlement related to the MEPP Claim, above the amounts held in
reserve by the Borrower and its Restricted Subsidiaries as of January 11, 2017. 
 (f)    The Bankruptcy Court
shall have entered an order approving the Backstop Commitment Agreement and such order shall not have been stayed and shall be in full force and effect on the Closing Date, and the Backstop Commitment Agreement shall remain in full force and effect
and shall not have been modified or amended in any manner that adversely affects the rights and interest of the Arrangers or the Lenders. 

(g)    Administrative Agent shall have received a certificate from the applicable Loan Party’s insurance broker or
other evidence satisfactory to it that all insurance required to be maintained pursuant to Section 6.07 is in full force and effect, together with endorsements naming Collateral Trustee, for the benefit of Secured Parties, as additional insured
and loss payee thereunder to the extent required under Section 6.07. 
 (h)    In order to create in favor of
Collateral Trustee, for the benefit of Secured Parties, a valid, perfected First Priority security interest in the Collateral (subject to the limitations set forth in the Security Documents), each Loan Party shall have delivered to Collateral
Trustee: 
 (i)    executed counterparts of the Security Agreement; 

(ii)    except to the extent set forth on Schedule 6.18 or otherwise not required as of the Closing Date
pursuant to the terms of the Security Agreement, evidence reasonably satisfactory to Administrative Agent of the compliance by each Loan Party of their obligations under the Security Agreement and the other Security Documents (including their
obligations to execute or authorize, as applicable, and deliver UCC financing statements (including, without limitation, as-extracted financing statements), originals of securities, instruments and chattel
paper and any agreements governing deposit and/or securities accounts as provided therein); 

  
 76 

 (iii)    a completed Collateral Questionnaire dated the
Closing Date and executed by a Responsible Officer of each Loan Party, together with all attachments contemplated thereby; 

(iv)    fully executed IP Security Agreements, in proper form for filing or recording in the United States
Patent and Trademark Office and the United States Copyright Office, as applicable, memorializing and recording the encumbrance of the Intellectual Property listed in Schedule 6 to the Security Agreement; and 

(v)    except to the extent set forth on Schedule 6.18 or otherwise not required as of the Closing Date
pursuant to the terms of the Security Agreement, evidence that each Loan Party shall have taken or caused to be taken any other action, executed and delivered or caused to be executed and delivered any other agreement, document and instrument
(including the PIC Intercompany Note and any other intercompany notes evidencing Indebtedness permitted to be incurred pursuant to Section 7.03) and made or caused to be made any other filing and recording (other than as
set forth herein) reasonably required by the Administrative Agent. 
 (i)    Any fees required to be paid on or before
the Closing Date to the Agents, the Arrangers or the Lenders under this Agreement, the Fee Letters or otherwise in connection with the Facilities shall have been paid and, unless waived by the Agents, the Arrangers or the Lenders, as applicable, to
the extent invoiced at least three Business Days prior to the Closing Date, the Borrower shall have paid all reasonable and documented costs and expenses of the Agents, Arrangers and the Lenders (including the reasonable and documented fees and
expenses of counsel to the Agents and the Lenders, plus such additional amounts of such reasonable and documented fees and expenses (including filing fees in respect of collateral) as shall constitute its reasonable estimate of such fees and
expenses incurred or to be incurred by it through the closing proceedings (provided that such estimate shall not thereafter preclude a final settling of accounts between the Borrower and the Agents)). 

(j)    There shall not exist any action, suit, investigation, litigation, proceeding or hearing, pending or threatened in
any court or before any arbitrator or Governmental Authority that affects the Financing Transactions or otherwise impairs the ability of the Loan Parties to consummate the Transactions (other than the Bankruptcy Cases) and no preliminary or
permanent injunction or order by a state or federal court shall have been entered, in each case that would be material and adverse to the Arrangers, the Agents or the Lenders. All Governmental Authorities and Persons shall have approved or consented
to the transactions contemplated hereby, to the extent required, and such approvals shall be in full force and effect. 

(k)    The Arrangers and the Agents shall have received at least three business days prior to the Closing Date all
documentation and other information required by regulatory authorities with respect to the Borrower and the other Loan Parties under applicable “know your customer” and anti-money laundering rules and regulations, including without
limitation the PATRIOT Act, that has been requested by the Arrangers or the Agents at least ten Business Days prior to the Closing Date. 

  
 77 

 (l)    In connection with the Plan of Reorganization or the Plan Support
Agreement and the transactions contemplated thereby: (a) any of the documents executed in connection with the implementation of the Plan of Reorganization or the Plan Support Agreement (collectively, the “Plan Documents”), to
the extent they contain provisions differing in any material respect from, or not described in, the Plan of Reorganization or the Plan Support Agreement, that are material and adverse to the rights or interests of any or all of the Arrangers, the
Administrative Agent and the Lenders (collectively, the “Finance Parties”) shall be in form and substance satisfactory to the Arrangers in their good faith judgment; (b) there shall have been no supplement, modification, waiver
or amendment to the Plan of Reorganization or the Plan Support Agreement that, in the good faith judgment of the Arrangers, is material and adverse to the rights or interests of any or all of the Finance Parties or the creditworthiness of the
Borrower unless, in each case, the Arrangers shall have reasonably consented thereto in writing; (c) unless the Arrangers shall have consented thereto in writing, the Authorization Order shall not have been vacated, stayed, reversed or modified
or amended in any respect that adversely affects the rights or interests of any or all of the Finance Parties in any material respect as determined by the Arrangers in good faith; (d) unless the Arrangers shall have consented thereto in
writing, each of the Confirmation Order and the order of the Bankruptcy Court approving the Plan Support Agreement shall have been entered and shall be in full force and effect and shall not have been vacated, stayed, reversed or modified or amended
in any respect that adversely affects the rights or interests of any or all of the Finance Parties in any material respect as determined by the Arrangers in good faith; and (e) all conditions precedent to the effectiveness of the Plan of
Reorganization, as it may be amended, supplemented, modified or waived in accordance with clause (b) above, other than the closing and funding of the Term Loans and the assumption by the Borrower of the obligations under the Priority Lien
Notes, shall have occurred (or will occur substantially concurrently with the closing of the Term Loans and the assumption by the Borrower of the obligations under the Priority Lien Notes) or been waived (to the extent such waiver is material and
adverse to the rights or interests of any or all of the Finance Parties, with the written consent of the Arrangers), including, but not limited to, the issuance of the Convertible Securities, the completion of the transactions contemplated by the
Rights Offering Documents, the substantially simultaneous closing of each Permitted Securitization Program and the availability of the Minimum Cash Balance. 

(m)    Substantially concurrently with the funding of the Term Loans on the Closing Date, of the Arrangers shall have
received reasonably satisfactory evidence that all Indebtedness of the Borrower and its Subsidiaries (other than Indebtedness permitted under Section 7.03) shall have been extinguished, repaid or repurchased in full, all
commitments relating thereto shall have been terminated, and all liens or security interests related thereto shall have been terminated or released, in each case to the extent set forth in or contemplated by the Plan of Reorganization (as the same
may be amended, supplemented, modified or waived in accordance with Section 4.01(l) above) and the Loan Documents. 

(n)    The Plan of Reorganization shall have become effective and all, or substantially all, assets of the Debtors shall
have vested in the reorganized Debtors as provided therein, which shall have occurred no later than May 1, 2017 (as such date may be extended at the Borrower’s election, but subject to payment of the Ticking Fee, to no later than
August 1, 2017). 

  
 78 

 Notwithstanding anything to the contrary in this Section 4.01, to the extent any security
interest in any of the intended Collateral is not or cannot be provided and/or perfected on the Closing Date (other than any collateral the security interest in which may be perfected by the filing of a UCC financing statement, the delivery of
certificated stock certificates of U.S. Subsidiaries (except as set forth on Schedule 6.18), or the filing of IP Security Agreements (except as set forth on Schedule 6.18)) after the Loan Parties’ use of commercially reasonable efforts to do
so, then the provision and/or perfection of a security interest in such Collateral will not constitute a condition precedent to the obligation of each Lender to make a Borrowing on the Closing Date but such security interest(s) will be perfected as
required by Section 6.18. 
 Without limiting the generality of the provisions of Section 9.04, for purposes
of determining compliance with the conditions specified in this Section 4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or
other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its objection
thereto. 
 4.02    Conditions to all Borrowings (Including on the Closing Date). The obligation of each Lender
to honor any Borrowing Notice (other than a Borrowing Notice requesting only a conversion of Term Loans to the other Type or a continuation of Eurocurrency Rate Loans) is subject to the following conditions precedent: 

(a)    The representations and warranties of (i) the Borrower contained in Article V and (ii) each Loan
Party contained in each other Loan Document or in any document required to be furnished at any time thereunder, shall be true and correct in all material respects on and as of the date of such Borrowing, except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date, and except that for purposes of this Section 4.02
following the Closing Date, the representations and warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b),
respectively, of Section 6.01; provided that, in each case, such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality or by a reference to
a Material Adverse Effect in the text thereof. 
 (b)    No Default or Event of Default shall exist, or would result
immediately, from such proposed Borrowing or the application of the proceeds thereof. 
 (c)    The Administrative Agent
shall have received a Borrowing Notice in accordance with the requirements hereof. 
 It is understood, for avoidance of doubt, that each Borrowing made in
connection with the effectiveness of any Incremental Facility, the proceeds of which are used to consummate a Permitted Acquisition, will be subject to the conditions set forth in clauses (a) and (b) only to the extent specified in Section
2.15(d)(i). 

  
 79 

 Each Borrowing Notice (other than a Borrowing Notice requesting only a conversion of Term Loans
to the other Type or a continuation of Eurocurrency Rate Loans) submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified in Section 4.02(a) and (b) have been satisfied on and as
of the date of the applicable Borrowing. 
 ARTICLE V. 

REPRESENTATIONS AND WARRANTIES 

The Borrower represents and warrants to the Administrative Agent, the Collateral Trustee and the Lenders that: 

5.01    Existence, Qualification and Power. Each of the Borrower and its Restricted Subsidiaries (a) (i) is
duly organized or formed and validly existing and (ii) is in good standing under the Laws of the jurisdiction of its incorporation or organization, if such legal concept is applicable in such jurisdiction, (b) has all requisite power and
authority and all requisite governmental licenses, authorizations, consents and approvals to (i) own or lease its assets and carry on its business and (ii) execute, deliver and perform its obligations under the Loan Documents to which it
is a party, and (c) is duly qualified, licensed, and in good standing (to the extent good standing is an applicable legal concept in the relevant jurisdiction), under the Laws of each jurisdiction where its ownership, lease or operation of
properties or the conduct of its business requires such qualification or license; except in each case referred to in clauses (a)(ii), (b)(i) or (c), to the extent that failure to do so could not reasonably be expected to have a
Material Adverse Effect. 
 5.02    Authorization; No Contravention. The execution, delivery and performance by
each Loan Party and Gibraltar Holdings of each Loan Document to which such Person is a party, (a) have been duly authorized by all necessary corporate or other organizational action and (b) do not and will not (i) contravene the terms
of any of such Person’s Organizational Documents; (ii) conflict with or result in any breach or contravention of, or the creation of, any Lien (except for any Liens that may arise under the Loan Documents) under, or require any payment to
be made under (A) any Contractual Obligation to which such Person is a party or affecting such Person or the properties of such Person or any of its Subsidiaries or (B) any order, injunction, writ or decree of any Governmental Authority to
which such Person or its property is subject or (C) any arbitral award to which such Person or its property is subject; or (iii) violate any Law binding on such Loan Party, except in each case referred to in clauses (b)(ii) or
(b)(iii) to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. 

5.03    Governmental Authorization. (a) No approval, consent, exemption, authorization, or other action by, or
notice to, or filing with, any Governmental Authority and (b) no material approval, consent, exemption, authorization, or other action by, or notice to, or filing with any other Person, in each case, is necessary or required in connection with
the execution, delivery or performance by, or enforcement against, any Loan Party or Gibraltar Holdings of this Agreement or any other Loan Document, except for those approvals, consents, exemptions, authorizations or other actions which have
already been obtained, taken, given or made and are in full force and effect. 

  
 80 

 5.04    Binding Effect. This Agreement has been, and each other Loan
Document, when delivered hereunder, will have been, duly executed and delivered by each Loan Party and Gibraltar Holdings, as applicable, that is party thereto. This Agreement constitutes, and each other Loan Document when so delivered will
constitute, a legal, valid and binding obligation of such Loan Party and Gibraltar Holdings, as applicable, enforceable against each Loan Party and Gibraltar Holdings, as applicable, that is party thereto in accordance with its terms, subject to
applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other Laws relating to or affecting creditors’ rights generally, general principles of equity, regardless of whether considered in a proceeding in equity
or at law and an implied covenant of good faith and fair dealing. 
 5.05    Financial Statements; No Material
Adverse Effect. 
 (a)    The Audited Financial Statements of the Borrower and its Subsidiaries (i) were
prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein and (ii) fairly present in all material respects the financial condition of the Borrower and its
Subsidiaries as of the date thereof and their results of operations for the period covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein. 

(b)    The unaudited consolidated balance sheet of the Borrower and its Subsidiaries dated March 31, 2016,
June 30, 2016 and September 30, 2016 and the related consolidated statements of income or operations, shareholders’ equity and cash flows for the fiscal quarters ended on such dates (i) were prepared in accordance with GAAP
consistently applied throughout the period covered thereby, except as otherwise expressly noted therein, and (ii) fairly present in all material respects the financial condition of the Borrower and its Subsidiaries as of such dates and their
results of operations for the period covered thereby, subject, in the case of clauses (i) and (ii), to the absence of footnotes and to normal year-end adjustments. 

(c)    Since the date of the last Audited Financial Statements, there has been no event or circumstance, either
individually or in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect. 

(d)    The financial projections delivered pursuant to Section 4.01(a)(xii) were prepared in good faith on the
basis of the assumptions stated therein, which assumptions were believed to be reasonable in light of the conditions existing at the time of delivery of such forecasts (it being understood that any such information is subject to significant
uncertainties and contingencies, many of which are beyond the Borrower’s control, and that no assurance can be given that the future developments addressed in such information can be realized). 

5.06    Litigation. There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of
the Borrower threatened, at law, in equity, by or before any Governmental Authority, by or against the Borrower or any of its Restricted Subsidiaries or against any of their properties or revenues that (a) purport to affect or pertain to this
Agreement 

  
 81 

 
or any other Loan Document, or any of the transactions contemplated hereby (other than the Bankruptcy Cases), or (b) except as specifically disclosed in public filings prior to the date
hereof, as to which there is a reasonable possibility of an adverse determination and that could reasonably be expected to have a Material Adverse Effect. 

5.07    No Default. None of the Borrower or any of its Restricted Subsidiaries is in default under or with respect
to any Contractual Obligation that could reasonably be expected to have a Material Adverse Effect. No Default or Event of Default has occurred and is continuing or would result from the consummation of the transactions contemplated by this Agreement
or any other Loan Document. 
 5.08    Ownership and Identification of Property. 

(a)    The Borrower and its Restricted Subsidiaries have good record and marketable title in fee simple to, or valid
leasehold interests in, all real property necessary or used in the ordinary conduct of its business, except for such defects in title as could not reasonably be expected to have a Material Adverse Effect. As of the Closing Date, with respect to all
real property listed on Schedule 5.08(c): (i) the Borrower and its Restricted Subsidiaries possess all leasehold interests necessary for the operation of the Mines currently being operated by each of them and included or purported to be
included in the Collateral pursuant to the Security Documents, except where the failure to possess such leasehold interests could not reasonably be expected to have a Material Adverse Effect, (ii) each of their respective rights under the
leases, contracts, rights-of-way and easements necessary for the operation of such Mines are in full force and effect, except to the extent that failure to maintain such
leases, contracts, rights of way and easements in full force and effect could not reasonably be expected to have a Material Adverse Effect; and (iii) each of the Borrower and its Restricted Subsidiaries possesses all licenses, permits or
franchises which are necessary to carry out its business as presently conducted at any Mine included or purported to be included in the Collateral pursuant to the Security Documents, except where failure to possess such licenses, permits or
franchises could not, in the aggregate, be reasonably expected to have a Material Adverse Effect. 
 (b)    Schedule
5.08(b) lists completely and correctly as of the Closing Date all Material Real Property fee owned by the Borrower and the other Loan Parties. 

(c)    Schedule 5.08(c) lists completely and correctly as of the Closing Date all Material Real Property leased by
the Borrower and the other Loan Parties and the lessors thereof. 
 5.09    Environmental Compliance. Except as
disclosed on Schedule 5.09, or as otherwise could not reasonably be expected to have a Material Adverse Effect: 

(a)    The facilities and properties currently or formerly owned, leased or operated by the Borrower, or any of its
respective Restricted Subsidiaries (the “Properties”) do not contain any Hazardous Materials in amounts or concentrations which (i) constitute a violation of, or (ii) could reasonably be expected to give rise to liability
under, any applicable Environmental Law. 
 (b)    None of the Borrower, nor any of its respective Restricted
Subsidiaries has received any notice of violation, alleged violation, non-compliance, liability or potential liability 

  
 82 

 
regarding compliance with or liability under Environmental Laws with regard to any of the Properties or the business operated by the Borrower, or any of its Restricted Subsidiaries (the
“Business”), or any prior business for which the Borrower has retained liability under any Environmental Law. 

(c)    Hazardous Materials have not been transported or disposed of from the Properties in violation of, or in a manner or
to a location which could reasonably be expected to give rise to liability under, any applicable Environmental Law, nor have any Hazardous Materials been generated, treated, stored or disposed of at, or under any of the Properties in violation of,
or in a manner that could reasonably be expected to give rise to liability under, any applicable Environmental Law. 

(d)    No judicial proceeding or governmental or administrative action is pending or, to the knowledge of the Borrower,
threatened under any Environmental Law to which the Borrower, or any of its Restricted Subsidiaries is or, to the knowledge of the Borrower, will be named as a party or with respect to the Properties or the Business, nor are there any consent
decrees or other decrees, consent orders, administrative orders or other orders, or other similar administrative or judicial requirements outstanding under any Environmental Law with respect to the Properties or the Business. 

(e)    There has been no release or threat of release of Hazardous Materials at or from the Properties, or arising from or
related to the operations of the Borrower, or any of its Restricted Subsidiaries in connection with the Properties or otherwise in connection with the Business, in violation of or in amounts or in a manner that could reasonably be expected to give
rise to liability under any applicable Environmental Laws. 
 (f)    The Properties and all operations at the Properties
are in compliance with all applicable Environmental Laws. 
 (g)    The Borrower, and each of its Restricted
Subsidiaries has obtained, and is in compliance with, all Environmental Permits required for the conduct of its businesses and operations, and the ownership, occupation, operation and use of its Property, and all such Environmental Permits are in
full force and effect. 
 5.10    Insurance. 

(a)    The properties of the Borrower and its Restricted Subsidiaries are insured with financially sound and reputable
insurance companies which may be Affiliates of the Borrower, in such amounts (after giving effect to any self-insurance compatible with the following standards), with such deductibles and covering such risks as are customarily carried by companies
engaged in similar businesses and owning similar properties in localities where the Borrower or the applicable Restricted Subsidiary operates. 

(b)    As to any Building located on Material Real Property and constituting Collateral, all flood hazard insurance
policies required hereunder have been obtained and remain in full force and effect, and the premiums thereon have been paid in full. 

  
 83 

 5.11    Taxes. The Borrower and its Restricted Subsidiaries have filed
all applicable US Federal, state, foreign and other material tax returns and reports required to be filed, and have paid all US Federal, state, foreign and other material taxes, assessments, fees and other governmental charges levied or imposed upon
them or their properties, income or assets otherwise due and payable except (a) those which are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have been provided in accordance with
GAAP, (b) where failure to do any of the foregoing could not reasonably be expected to result in a Material Adverse Effect or (c) to the extent excused or prohibited by the Bankruptcy Code or the Bankruptcy Court; no material tax Lien has
been filed which would not be permitted under Section 7.01 and, to the knowledge of the Borrower, no material claim is being asserted, with respect to any material tax, fee or other charge which could reasonably be expected
to result in a Material Adverse Effect. 
 5.12    ERISA Compliance. Except as could not reasonably be expected,
individually or in the aggregate, to have a Material Adverse Effect: 
 (a)    Each Plan is in material compliance in
all respects with the applicable provisions of ERISA, the Code and other Federal or state Laws (except that with respect to any Multiemployer Plan which is a Plan, such representation is deemed made only to the knowledge of the Borrower), and each
Foreign Plan is in material compliance in all respects with the applicable provisions of Laws applicable to such Foreign Plan. 

(b)    There has been no nonexempt “prohibited transaction” (as defined in Section 406 of ERISA) or
violation of the fiduciary responsibility rules with respect to any Plan. 
 (c)    (i) As of the Closing Date, no ERISA
Event has occurred or is reasonably expected to occur; (ii) no Pension Plan has any Unfunded Pension Liability; and (iii) neither the Borrower nor any ERISA Affiliate has engaged in a transaction that could be subject to Section 4069
or 4212(c) of ERISA. 
 5.13    Subsidiaries. As of the Closing Date, the Borrower has no Subsidiaries other than
those specifically disclosed in Schedule 5.13. 
 5.14    Margin Regulations; Investment Company Act. 

(a)    The Borrower is not engaged and will not engage, principally or as one of its important activities, in the business
of purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock. 

(b)    None of the Borrower, any Person Controlling the Borrower, nor any Restricted Subsidiary is or is required to be
registered as an “investment company” under the Investment Company Act of 1940. 
 5.15    Disclosure.
No report, financial statement, certificate or other information furnished in writing by any Loan Party or Gibraltar Holdings to the Administrative Agent, the Collateral Trustee or any Lender in connection with the transactions contemplated hereby
and 

  
 84 

 
the negotiation of this Agreement or delivered hereunder or under any other Loan Document, taken as whole with any other information furnished or publicly available, contains any material
misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not materially misleading as of the date when made or delivered; provided that,
with respect to any forecast, projection or other statement regarding future performance, future financial results or other future developments, the Borrower represents only that such information was prepared in good faith based upon assumptions
believed to be reasonable at the time of delivery of such information (it being understood that any such information is subject to significant uncertainties and contingencies, many of which are beyond the Borrower’s control, and that no
assurance can be given that the future developments addressed in such information can be realized). 

5.16    Compliance with Laws. The Borrower and each Restricted Subsidiary is in compliance in all material respects
with the requirements of all Laws (including any zoning, building, ordinance, code or approval or any building or mining permits and all orders, writs, injunctions and decrees applicable to it or to its properties), except in such instances in which
(a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted or (b) the failure to comply therewith could not reasonably be expected to have a Material
Adverse Effect. 
 5.17    Anti-Corruption; Sanctions; Terrorism Laws. 

(a)    None of the Borrower, any Restricted Subsidiary nor, to the knowledge of the Borrower, any director, officer, agent,
employee or Affiliate of the Borrower or any Restricted Subsidiary is (i) a person on the list of “Specially Designated Nationals and Blocked Persons” or (ii) subject of any active sanctions administered or enforced by the U.S.
Department of State or the U.S. Department of Treasury (including the Office of Foreign Assets Control) or any other applicable governmental authority (collectively, “Sanctions”, and the associated laws, rules, regulations and
orders, collectively, “Sanctions Laws”); and the Borrower will not directly or, to the knowledge of the Borrower, indirectly use the proceeds of the Loans for the purpose of financing the activities of any Person that is the subject
of, or in any country or territory that at such time is the subject of, any Sanctions. 
 (b)    The Borrower and each
Restricted Subsidiary is in compliance, in all material respects, with the (i) Trading with the Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V,
as amended) and any other enabling legislation or executive order relating thereto, (ii) the USA PATRIOT Act (Title III of Pub. L. 107-56), as amended (the “PATRIOT Act”), (iii) Sanctions
Laws and (iv) Anti-Corruption Laws. 
 (c)    No part of the proceeds of any Loan will be used, directly or, to the
knowledge of the Borrower, indirectly, for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain,
retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended, or any other applicable anti-bribery or anti-corruption laws, rules, regulations and orders
(collectively, “Anti-Corruption Laws”). 

  
 85 

 5.18    Intellectual Property; Licenses, Etc. The Borrower and its
Restricted Subsidiaries own, or possess the right to use, all of the trademarks, service marks, trade names, copyrights, patents, patent rights, franchises, licenses and other intellectual property rights (collectively, “IP Rights”)
that are reasonably necessary for the operation of their respective businesses, except where the failure to own or possess the right to use such IP Rights could not reasonably be expected to have a Material Adverse Effect. To the best knowledge of
the Borrower, the use of such IP Rights by the Borrower or any Restricted Subsidiary does not infringe upon any rights held by any other Person except for any infringement that could not reasonably be expected to have a Material Adverse Effect.
Except as specifically disclosed in Schedule 5.18, no claim or litigation regarding any of the foregoing is pending or, to the best knowledge of the Borrower, threatened, which could reasonably be expected to have a Material Adverse Effect.

 5.19    Security Documents. 

(a)    (i) Each Security Document (other than each Mortgage), when executed and delivered, is effective to create in favor
of the Collateral Trustee (for the benefit of the Secured Parties), a legal, valid and enforceable security interest in the Collateral described therein and the Collateral Trustee has been authorized (and is hereby authorized) to make all filings of
UCC-1 and as-extracted collateral financing statements in the appropriate filing office necessary or desirable to fully perfect the Collateral Trustee’s security
interest in such Collateral described therein which can be perfected by filing a UCC-1 financing statement in the appropriate filing office, or in the case of the Gibraltar Pledge Agreement, by registering the
Gibraltar Pledge Agreement at Companies House Gibraltar within 30 days following the Closing Date, and (ii) with respect to the security interest created in the Collateral pursuant to each Security Document (other than each Mortgage), upon such
filings (or, with respect to possessory Collateral, upon the taking of possession by the Collateral Trustee (or by the ABL Agent as bailee for the Collateral Trustee pursuant to the ABL Intercreditor Agreement, if applicable) of any such Collateral
which may be perfected by possession), such security interests will constitute perfected First Priority Liens on, and security interests in, all right, title and interest of the debtor party thereto in the Collateral described therein that can be
perfected by filing a UCC-1 or as-extracted financing statement, as applicable, in the appropriate filing office or by delivery, in the case of possessory Collateral.

 (b)    Each of the Mortgages, when executed and delivered, will be effective to create in favor of the Collateral
Trustee, for the ratable benefit of the Secured Parties, a legal, valid and enforceable lien on the Material Real Property described therein and such security interests will constitute, upon such Mortgage being and recorded in the appropriate filing
offices, First Priority liens on such Material Real Property. 
 5.20    Mines. Schedule 5.20 sets forth a
complete and accurate list of all Mines (including addresses and the owner thereof) owned or operated by the Borrower or any of its Restricted Subsidiaries as of the Closing Date and included or purported to be included in the Collateral pursuant to
the Security Documents. 

  
 86 

 5.21    Solvency. The Borrower and its Restricted
Subsidiaries are and, upon the incurrence of any Obligation by any Loan Party on any date on which this representation and warranty is made, will be, on a consolidated basis, Solvent. 

5.22    Labor Relations. Neither the Borrower nor any of its Restricted Subsidiaries is engaged in
any unfair labor practice that could reasonably be expected to have a Material Adverse Effect. There is (a) no unfair labor practice complaint pending against the Borrower or any of its Restricted Subsidiaries, or to the best knowledge of the
Borrower, threatened against any of them before the National Labor Relations Board and no grievance or arbitration proceeding arising out of or under any collective bargaining agreement that is so pending against the Borrower or any of its
Restricted Subsidiaries or to the best knowledge of the Borrower, threatened against any of them, (b) no strike or work stoppage in existence or threatened involving the Borrower or any of its Restricted Subsidiaries, and (c) to the best
knowledge of the Borrower, no union representation question existing with respect to the employees of the Borrower or any of its Restricted Subsidiaries and, to the best knowledge of the Borrower, no union organization activity that is taking place,
except (with respect to any matter specified in clause (a), (b) or (c) above, either individually or in the aggregate) such as is not reasonably likely to have a Material Adverse Effect. 

ARTICLE VI. 
 AFFIRMATIVE
COVENANTS 
 Until Payment in Full, the Borrower shall, and shall cause each of its respective Restricted Subsidiaries to: 

6.01    Financial Statements. Deliver to the Administrative Agent and each Lender, in form and detail reasonably
satisfactory to the Administrative Agent: 
 (a)    as soon as available, but in any event within 90 days after the end
of each fiscal year of the Borrower (commencing with the fiscal year ended December 31, 2017) a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal year, and the related consolidated statements of income
or operations, changes in shareholders’ equity and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP; such
consolidated statements shall be audited and accompanied by a report and opinion of an independent certified public accountant of nationally recognized standing, which report and opinion shall be prepared in accordance with generally accepted
auditing standards and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such audit (other than with respect to or resulting from the upcoming maturity of
any Loans under this Agreement, the Priority Lien Notes Documents, any documents evidencing a Permitted Securitization Program or the ABL Credit Documents, occurring within one year from the time such opinion is delivered); and 

(b)    as soon as available, but in any event within 45 days after the end of each of the first three fiscal quarters of
each fiscal year of the Borrower (commencing with the fiscal quarter ended June 30, 2017), a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal quarter, and the related consolidated statements of income
or operations, 

  
 87 

 
changes in shareholders’ equity and cash flows for such fiscal quarter and for the portion of the Borrower’s fiscal year then ended, setting forth in each case in comparative form the
figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal year, all in reasonable detail; such consolidated statements shall be certified by a Responsible Officer of the Borrower as
fairly presenting in all material respects the financial condition, results of operations, changes in shareholders’ equity and cash flows of the Borrower and its Subsidiaries in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes. 
 6.02    Certificates;
Other Information. Deliver to the Administrative Agent, in form and detail reasonably satisfactory to the Administrative Agent: 

(a)    [reserved]; 

(b)    concurrently with the delivery of the financial statements referred to in Section 6.01(a) and (b)
(commencing with the delivery of the financial statements for the fiscal quarter ended June 30, 2017), (i) a duly completed Compliance Certificate signed by a Responsible Officer of the Borrower and (ii) a reconciliation of such financial
statements for the Borrower and its Restricted Subsidiaries; provided, that, for the avoidance of doubt, any such reconciliation of the financial statements referred to in Section 6.01(a) shall not be audited; 

(c)    promptly after the same are available, copies of each annual report, proxy or financial statement or other report
or communication sent to the stockholders of the Borrower, and copies of all annual, regular, periodic and special reports and registration statements which the Borrower may file or be required to file with the SEC under Section 13 or 15(d) of
the Securities Exchange Act of 1934, and not otherwise required to be delivered to the Administrative Agent pursuant hereto; 

(d)    promptly, such additional information regarding the business, financial or corporate affairs of the Borrower or any
Subsidiary, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender may from time to time reasonably request; and 

(e)    not later than 60 days after the end of each fiscal year of the Borrower, a copy of summary projections by the
Borrower of the operating budget and cash flow budget of the Borrower and its Subsidiaries for the succeeding fiscal year, such projections to be accompanied by a certificate of a Responsible Officer to the effect that such projections have been
prepared based on assumptions believed by the Borrower to be reasonable (it being understood that any such information is subject to significant uncertainties and contingencies, many of which are beyond the Borrower’s control, and that no
assurance can be given that the future developments addressed in such information can be realized). 
 Documents required to be delivered
pursuant to Section 6.01(a) or (b) or Section 6.02(c) (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have
been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website on the Internet at the website address listed on Schedule 10.02; (ii) on which

  
 88 

 
such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial,
third-party website or whether sponsored by the Administrative Agent); or (iii) on which such documents are filed for public availability on the SEC’s Electronic Data Gathering and Retrieval system. 

The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Arrangers will make available to the Lenders materials
and/or information provided by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on IntraLinks or another similar electronic system (the “Platform”) and
(b) certain of the Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to receive material non-public information with respect to the Borrower or its securities) (each, a
“Public Lender”). The Borrower hereby agrees that so long as the Borrower is the issuer of any outstanding debt or equity securities that are registered or issued pursuant to a private offering or is actively contemplating issuing
any such securities (a) all Borrower Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear
prominently on the first page thereof; (b) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized the Administrative Agent, the Arrangers and the Lenders to treat the Borrower Materials as not
containing any material non-public information with respect to the Borrower or its securities for purposes of United States Federal and state securities laws (provided, however, that to the
extent the Borrower Materials constitute Information, they shall be treated as set forth in Section 10.07); and (c) all Borrower Materials marked “PUBLIC” or not marked as containing material non-public information are permitted to be made available through a portion of the Platform designated “Public Investor.” Notwithstanding the foregoing, the Borrower shall not be under any obligation to
mark the Borrower Materials “PUBLIC” or as containing material non-public information. In connection with the foregoing, each party hereto acknowledges and agrees that the foregoing provisions are
not in derogation of their confidentiality obligations under Section 10.07. 

6.03    Notices. Notify the Administrative Agent: 

(a)    promptly, of the occurrence of any Default or Event of Default hereunder or the occurrence of any
“Default” or “Event of Default” under the Priority Lien Notes Documents or the ABL Credit Documents; 

(b)    promptly, of any event which could reasonably be expected to have a Material Adverse Effect; 

(c)    of the occurrence of any ERISA Event that, individually or in the aggregate, would be reasonably likely to have a
Material Adverse Effect, as soon as possible and in any event within 30 days after the Borrower knows or has obtained notice thereof; 

(d)    within 15 days of the Borrower or any Guarantor (or Peabody Investments (Gibraltar) Limited) changing its legal
name, jurisdiction of organization or the location of its chief executive office or sole place of business; 

  
 89 

 (e)    to the extent that there will be a cancellation or material reduction
in amount or material change in coverage for any insurance maintained by the Borrower or any Guarantor, at least 10 days prior to such cancellation, reduction or change; and 

(f)    promptly, as to any Building located on Material Real Property and constituting Collateral, any redesignation of
any such property on which such Building is located into or out of a special flood hazard area. 
 Each notice pursuant to clauses
(a)-(c) of this Section shall be accompanied by a statement of a Responsible Officer of the Borrower setting forth details of the occurrence referred to therein and stating what action the Borrower has taken and proposes to take with respect
thereto. 
 6.04    Payment of Tax Obligations. Except where failure to do so could not reasonably be expected to
result in a Material Adverse Effect, with respect to the Borrower and each of its Restricted Subsidiaries, pay and discharge all tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are
being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being maintained by the Borrower or such Subsidiary. 

6.05    Preservation of Existence. Preserve, renew and maintain in full force and effect its legal existence except
in a transaction permitted by Section 7.04. 
 6.06    Maintenance of Properties. (a)
Maintain, preserve and protect all of its material properties and material equipment, including Collateral, necessary in the operation of its business in good working order and condition (ordinary wear and tear and damage by fire or other casualty
or taking by condemnation excepted), except where the failure to do so could not reasonably be expected to have a Material Adverse Effect. 

(b)    Keep in full force and effect all of its material leases and other material contract rights, and all material
rights of way, easements and privileges necessary or appropriate for the proper operation of the Mines being operated by the Borrower or a Restricted Subsidiary and included or purported to be included in the Collateral by the Security Documents,
except where the failure to do so could not reasonably be expected to have a Material Adverse Effect. 

6.07    Maintenance of Insurance. (a) Maintain with financially sound and reputable insurance companies which
may be Affiliates of the Borrower, insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business, of such types and in such amounts (after
giving effect to any self-insurance compatible with the following standards) as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where the Borrower or the applicable Restricted Subsidiary
operates, except to the extent the failure to do so could not reasonably be expected to have a Material Adverse Effect. 

(b)    With respect to any Building located on Material Real Property and constituting Collateral, the Borrower shall and
shall cause each appropriate Loan Party to (i) maintain fully paid flood hazard insurance on any such Building that is located in a special flood hazard area, 

  
 90 

 
on such terms and in such amounts as required by The National Flood Insurance Reform Act of 1994 and (ii) furnish to the Administrative Agent an insurance certificate evidencing the renewal
(and payment of renewal premiums therefor) of all such policies prior to the expiration or lapse thereof (or at such other time acceptable to the Administrative Agent). The Borrower shall cooperate with the Administrative Agent’s reasonable
request for any information reasonably required by the Administrative Agent to comply with The National Flood Insurance Reform Act of 1994, as amended. 

6.08    Compliance with Laws. Comply in all respects with the requirements of all Laws (including the PATRIOT Act,
Sanctions Laws, the Anti-Corruption Laws and Environmental Laws) and all orders, writs, injunctions and decrees applicable to it or to its business or property, except in such instances in which (a) such requirement of law or order, writ,
injunction or decree is being contested in good faith by appropriate proceedings diligently conducted or (b) the failure to comply therewith could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect
(or, in the case of compliance with the PATRIOT Act, Sanctions Laws and the Anti-Corruption Laws, the failure to comply therewith is not material). 

6.09    Books and Records. (a) Maintain proper books of record and account, in which in all material respects
full, true and correct entries in conformity with GAAP shall be made of all material financial transactions and matters involving the assets and business of the Borrower or such Restricted Subsidiary, as the case may be; and (b) maintain such
books of record and account in material conformity with all material requirements of any Governmental Authority having regulatory jurisdiction over the Borrower or such Restricted Subsidiary, as the case may be. 

6.10    Inspection Rights. Permit representatives and independent contractors of the Administrative Agent and each
Lender to visit and inspect any of its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom (except to the extent (a) any such access is restricted by a Requirement of Law or
(b) any such agreements, contracts or the like are subject to a written confidentiality agreement with a non-Affiliate that prohibits the Borrower or any of its Subsidiaries from granting such access to
the Administrative Agent or the Lenders; provided that, with respect to such confidentiality restrictions affecting the Borrower or any of its Restricted Subsidiaries, a Responsible Officer is made available to such Lender to discuss such
confidential information to the extent permitted), and to discuss the business, finances and accounts with its officers and independent public accountants at such reasonable times during normal business hours and as often as may be reasonably
desired, provided that the Administrative Agent or such Lender shall give the Borrower reasonable advance notice prior to any contact with such accountants and give the Borrower the opportunity to participate in such discussions, provided
further that the costs of one such visit per calendar year (or an unlimited amount if an Event of Default has occurred and is continuing) for the Administrative Agent, the Lenders and their representatives as a group shall be the responsibility
of the Borrower. 
 6.11    Use of Proceeds. Use the proceeds of the Term Loan Facility (a) on the Closing
Date, to refinance indebtedness under the Existing Credit Agreement and to pay the Transaction Costs, (b) after the Closing Date, for ongoing working capital, capital expenditures and for other lawful corporate purposes of the Borrower and its
Subsidiaries, including for acquisitions and (c) to make distributions to certain holders of claims in accordance with the Plan of Reorganization. 

  
 91 

 6.12    Additional Guarantors. As of the date the
Compliance Certificate referred to in Section 6.02 is required to be delivered, notify the Administrative Agent of any Restricted Subsidiary that is not a Guarantor and, by virtue of the definition of Guarantor would be
required to be a Guarantor. Within 30 days of such notification, the Borrower shall cause any such Subsidiary to become a Guarantor by executing and delivering to the Administrative Agent a counterpart of the Guaranty or such other document as the
Administrative Agent shall deem appropriate for such purpose. 
 6.13    Unrestricted Subsidiaries. Subject to
the exclusions in the proviso in the definition of “Unrestricted Subsidiary”, any Restricted Subsidiary may be designated as an Unrestricted Subsidiary and any Unrestricted Subsidiary may be designated as a Restricted Subsidiary upon
delivery to the Administrative Agent of written notice from the Borrower; provided that (a) immediately before and after such designation, no Default or Event of Default shall have occurred and be continuing, (b) other than for
purposes of designating a Restricted Subsidiary as an Unrestricted Subsidiary in connection with a Permitted Securitization Program, immediately after giving effect to such designation, on a Pro Forma Basis, the Total Leverage Ratio shall be equal
to or less than 2.50:1.00, (c) no Subsidiary may be designated as an Unrestricted Subsidiary if it is a “Restricted Subsidiary” for purposes of any of the Priority Lien Notes Documents, the ABL Credit Documents or any documents evidencing
any Permitted Refinancing Indebtedness or any Subordinated Indebtedness and (d) each Restricted Subsidiary to be designated as an Unrestricted Subsidiary and its Subsidiaries has not at the time of designation, and does not thereafter, create,
incur, issue, assume, guarantee or otherwise become directly or indirectly liable with respect to any Indebtedness other than Non-Recourse Debt. The designation of any Restricted Subsidiary as an Unrestricted
Subsidiary shall constitute an Investment under Section 7.02 by the Borrower therein at the date of designation in an amount equal to the net book value of the Borrower’s investment therein. The designation of any
Unrestricted Subsidiary as a Restricted Subsidiary shall constitute the incurrence at the time of designation of any Indebtedness or Liens of such Restricted Subsidiary existing at such time. 

6.14    Preparation of Environmental Reports. If an Event of Default caused by reason of a breach under Sections
6.08 or 5.09 with respect to compliance with Environmental Laws shall have occurred and be continuing, at the reasonable request of the Required Lenders through the Administrative Agent, provide, in the case of the Borrower, to the
Lenders within 60 days after such request, at the expense of the Borrower, an environmental or mining site assessment or audit report for the Properties which are the subject of such default prepared by an environmental or mining consulting firm
reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance or remedial action in connection with such Properties and the estimated cost of curing any
violation or non-compliance of any Environmental Law. 
 6.15    Certain Long
Term Liabilities and Environmental Reserves. To the extent required by GAAP, maintain adequate reserves for (a) future costs associated with any lung disease claim alleging pneumoconiosis or silicosis or arising out of exposure or alleged

  
 92 

 
exposure to coal dust or the coal mining environment, (b) future costs associated with retiree and health care benefits, (c) future costs associated with reclamation of disturbed
acreage, removal of facilities and other closing costs in connection with closing its mining operations and (d) future costs associated with other potential environmental liabilities. 

6.16    Covenant to Give Security. 

(a)    Personal Property including IP of New Guarantors. Concurrently with any Restricted Subsidiary becoming a
Guarantor pursuant to Section 6.12 (or a later date to which the Administrative Agent agrees), cause any such Restricted Subsidiary to (i) duly execute and deliver to the Collateral Trustee counterparts to the Security
Agreement or such other document as the Administrative Agent or the Collateral Trustee shall reasonably deem appropriate for such purpose, (ii) to the extent that any Capital Stock in, or owned by, such Restricted Subsidiary is required to be
pledged pursuant to the Security Agreement or the Gibraltar Pledge Agreement, deliver stock certificates, if any, representing such Capital Stock accompanied by undated stock powers or instruments of transfer executed in blank, (iii) to the
extent that any Intellectual Property (as defined in the Security Agreement) owned by a Loan Party is required to be pledged pursuant to the Security Agreement but has not been pledged, deliver any supplements to the IP Security Agreements
reasonably requested by the Administrative Agent or the Collateral Trustee and (iv) comply with all other requirements of the Security Agreement with respect to the Collateral of such Guarantor. 

(b)    Real Property of New Guarantors. 

(i)    New Real Property Identification. With respect to any Restricted Subsidiary becoming a Guarantor pursuant to
Section 6.12, concurrently with such Restricted Subsidiary becoming a Guarantor (or a later date to which the Administrative Agent agrees), furnish to the Administrative Agent a description of all Material Real Property fee
owned or leased by such Restricted Subsidiary. 
 (ii)    Material Real Property Mortgages and Flood Insurance.
With respect to any Restricted Subsidiary becoming a Guarantor pursuant to Section 6.12, within the latest of (x) 90 days of such Restricted Subsidiary becoming a Guarantor and (y) a later date to which the
Administrative Agent agrees, cause such Restricted Subsidiary to deliver (A) executed counterparts of one or more Mortgages on its Material Real Property in a form appropriate for recording in the applicable recording office, (B) a
completed “Life-of-Loan” Federal Emergency Management Agency Standard Flood Hazard Determination with respect to each Building located on such Material Real
Property and constituting Collateral and, if any such Building is located in special flood hazard area, (1) a notice about special flood hazard area status and flood disaster assistance duly executed by the Borrower and each Loan Party relating
thereto and (2) evidence of applicable flood insurance as required by Section 6.07(b)(i) if such Material Real Property constitutes Collateral, (C) legal opinions from counsel in such jurisdiction as the Material Real Property is
located, each in form and substance reasonably satisfactory to Administrative Agent or the Collateral Trustee, (D) to the extent required by the Administrative Agent, evidence of the filing of
as-extracted UCC-1 financing statements in the appropriate jurisdiction and (E) payment by the Borrower of all mortgage recording taxes and related charges required
for the recording of such Mortgages. 

  
 93 

 (iii)    Consents Related to Leaseholds Concerning Material Real
Property. With respect to any leasehold interest of any Restricted Subsidiary becoming a Guarantor pursuant to Section 6.12 that would constitute Material Real Property but for the need to obtain the consent of another
Person (other than the Borrower or any Controlled Subsidiary) in order to grant a security interest therein, use commercially reasonable efforts to obtain such consent for the later of (x) the 120 day period commencing after such entity becomes
a Guarantor and (y) 225 days after the Closing Date, provided that there shall be no requirement to pay any sums to the applicable lessor other than customary legal fees and administrative expenses (it is understood, for avoidance of doubt,
that, without limiting the foregoing obligations of the Borrower set forth in this Section 6.16(b)(iii), any failure to grant a security interest in any such leasehold interest as a result of a failure to obtain a consent shall not be a
Default hereunder, and, for avoidance of doubt, the Borrower and its Restricted Subsidiaries shall no longer be required to use commercially reasonable efforts to obtain any such consent after such above-mentioned time period to obtain a consent has
elapsed). 
 (c)    Personal Property (including IP) Acquired by Borrower or Guarantors. Within the applicable
time period set forth in the Security Agreement, shall, in the case of the Borrower, or cause any such Restricted Subsidiary otherwise, (i) to the extent that any Capital Stock in, or owned by, a Loan Party or Gibraltar Holdings is required to
be pledged pursuant to the Security Agreement or the Gibraltar Pledge Agreement but has not been pledged, deliver stock certificates, if any, representing such Capital Stock accompanied by undated stock powers or instruments of transfer executed in
blank to the Collateral Trustee and execute and deliver to the Collateral Trustee supplements to the Security Agreement, the Gibraltar Pledge Agreement or such other document as the Administrative Agent shall reasonably deem appropriate to pledge
any such Capital Stock, (ii) to the extent that any Intellectual Property (as defined in the Security Agreement) owned by a Loan Party is required to be pledged pursuant to the Security Agreement but has not been pledged, deliver any
supplements to the IP Security Agreements reasonably requested by the Administrative Agent and (iii) to the extent that a Lien on any asset of a Loan Party is required to be perfected pursuant to the Security Agreement but has not been
perfected, take such additional actions as may be required pursuant to the Security Agreement in order to perfect the Lien of the Collateral Trustee on such asset. 

(d)    Real Property Acquired by Borrower and Guarantors. 

(i)     New Real Property Identification. As of the date the Compliance Certificate referred to in
Section 6.02 is required to be delivered (or a later date to which the Administrative Agent agrees), with respect to each Loan Party, notify the Administrative Agent the acquisition of any Material Real Property fee owned
or leased by such Loan Party. 
 (ii)    Material Real Property Mortgages and Supplements. Within the latest of
(x) 90 days of the notification provided pursuant to Section 6.16(d)(i) (or a later date to which the Administrative Agent agrees), (y) 90 days after the Closing Date and (z) a later date to which the Administrative Agent agrees, cause
such Loan Party to deliver the materials set forth in Section 6.16(b)(ii) with respect any such newly acquired Material Real Property, unless, in the judgment of the Administrative Agent, delivery of such materials is unnecessary to ensure
the Secured Parties benefit from a perfected First Priority security interest in such Material Real Property in favor of the Collateral Trustee and such flood insurance (it is understood that in lieu of any new Mortgage, mortgage supplements or any
other security documents may be delivered if reasonably acceptable to the Administrative Agent). 

  
 94 

 (iii)    Consents Related to Leaseholds Concerning Material Real
Property. With respect to the acquisition of any leasehold interest by any Restricted Subsidiary that would constitute Material Real Property but for the need to obtain the consent of another Person (other than the Borrower or any Controlled
Subsidiary) in order to grant a security interest therein, use commercially reasonable efforts to obtain such consent for the later of (x) the 120 day period commencing on the date of the notification provided pursuant to Section
6.16(d)(i) and (y) 225 days after the Closing Date, provided that there shall be no requirement to pay any sums to the applicable lessor other than customary legal fees and administrative expenses (it is understood, for avoidance of
doubt, that, without limiting the foregoing obligations of the Borrower set forth in this Section 6.16(d)(iii), any failure to grant a security interest in any such leasehold interest as a result of a failure to obtain a consent shall not be
a Default hereunder, and, for avoidance of doubt, the Borrower and its Restricted Subsidiaries shall no longer be required to use commercially reasonable efforts to obtain any such consent after such above-mentioned time period to obtain a consent
has elapsed). 
 (e)    Further Assurances. Subject to any applicable limitation in any Security Documents, upon
request of the Administrative Agent, at the expense of the Borrower, promptly execute and deliver any and all further instruments and documents and take all such other action as the Administrative Agent may deem necessary or desirable in obtaining
the full benefits of, or (as applicable) in perfecting and preserving the Liens of, the Security Documents, including the filing of financing statements necessary or advisable in the opinion of the Administrative Agent or the Collateral Trustee to
perfect any security interests created under the Security Documents. 
 (f)    Collateral Principles.
Notwithstanding anything to the contrary in any Loan Document, (i) except as contemplated by the Gibraltar Pledge Agreement or with respect to the pledge of intercompany loans (including the PIC Intercompany Note), no actions in any non-U.S. jurisdiction or required by the Requirement of Law of any non-U.S. jurisdiction shall be required in order to create any security interests in assets located or
titled outside of the U.S. (it being understood that, except for the Gibraltar Pledge Agreement, there shall be no security agreements or pledge agreements governed under the laws of any non-U.S.
jurisdiction), (ii) the Administrative Agent in its discretion may grant extensions of time for the creation or perfection of security interests in, and Mortgages on, or taking other actions with respect to, particular assets where it reasonably
determines in consultation with the Borrower, that the creation or perfection of security interests and Mortgages on, or taking other actions, cannot be accomplished without undue delay, burden or expense by the time or times at which it would
otherwise be required by this Agreement or the Security Documents and (iii) any Liens required to be granted from time to time pursuant to Security Documents and this Agreement on assets of the Loan Parties or Gibraltar Holdings to secure to
the Secured Obligations shall exclude the Excluded Assets. 
 (g)    Junior Lien Indebtedness Guarantees and
Collateral. Without limitation of (and subject to) any provision in the Collateral Trust Agreement, if the Junior Collateral Trustee or any holder of Junior Lien Indebtedness receive any additional guaranty or any additional collateral in
connection with the Junior Lien Indebtedness after the Closing Date, without 

  
 95 

 
limitation of any Event of Default that may arise as a result thereof, the Loan Parties shall, concurrently therewith, cause the same to be granted to the Administrative Agent or the Collateral
Trustee, as applicable, for its own benefit and the benefit of the Secured Parties. 
 6.17    Maintenance of
Ratings. Use commercially reasonable efforts to maintain (i) a public corporate family rating issued by Moody’s and a public corporate credit rating issued by S&P and (ii) a public credit rating from each of Moody’s and
S&P with respect to the Term Loans. 
 6.18    Post Closing Covenants. Cause to be delivered or
performed the documents and other agreements and actions set forth on Schedule 6.18 within the time frame specified on such Schedule 6.18. 

6.19    ERISA. Except, in each case, to the extent that the failure to do so could not reasonably be
expected to result in a Material Adverse Effect, comply with the provisions of ERISA, the Code, and other Laws applicable to the Plans. 

ARTICLE VII. 
 NEGATIVE
COVENANTS 
 Until Payment in Full, the Borrower shall not, nor shall it permit any Restricted Subsidiary to, directly or indirectly:

 7.01    Liens. Create, incur, assume or suffer to exist any Lien upon any of its property, assets or
revenues, whether now owned or hereafter acquired, other than the following: 
 (a)    Liens pursuant to any Loan
Document; 
 (b)    Liens existing on the date hereof and (other than any individual Lien that secures obligations of
less than $2,000,000) set forth on Schedule 7.01 and any renewals, extensions, modifications, restatements or replacements thereof, provided that (i) the property covered thereby is not changed, (ii) the amount secured or
benefited thereby is not increased except with respect to any Permitted Refinancing Increase and (iii) any renewal, extension, modification, restatement or replacement of the obligations secured or benefited thereby is permitted by
Section 7.03; 
 (c)    Liens for taxes not yet due or which are being contested in good faith
and by appropriate proceedings, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP; 

(d)    landlord’s, carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or
other like Liens arising in the ordinary course of business which are not overdue for a period of more than 60 days or which are being contested in good faith and by appropriate proceedings; 

(e)    pledges or deposits in the ordinary course of business in connection with workers’ compensation, unemployment
insurance and other social security legislation and employee health and disability benefit legislations and deposits securing liability to insurance carriers under insurance or self-insurance arrangements; 

  
 96 

 (f)    (i) Liens (including deposits) to secure the performance of bids,
trade contracts and leases (other than Indebtedness), reclamation bonds, insurance bonds, statutory obligations, surety and appeal bonds, performance bonds, bank guarantees and letters of credit and other obligations of a like nature incurred in the
ordinary course of business, (ii) Liens on assets to secure obligations under surety bonds obtained as required in connection with the entering into of federal coal leases or (iii) Liens created under or by any turnover trust; 

(g)    easements, rights-of-way, zoning
restrictions, other restrictions and other similar encumbrances which do not in any case materially detract from the value of the property subject thereto or materially interfere with the ordinary conduct of the business of the applicable Person;

 (h)    Liens securing attachments or judgments for the payment of money not constituting an Event of Default under
Section 8.01(h) or securing appeal or surety bonds related to such attachments or judgments; 
 (i)    Liens
securing Indebtedness of the Borrower and its Restricted Subsidiaries permitted by Section 7.03(k); provided that (i) such Liens do not at any time encumber any property other than the property financed by such Indebtedness, any
other property which may be incorporated with or into that financed property or any after-acquired title in or on such property and proceeds of the existing collateral in accordance with the instrument creating such Lien, including replacement
parts, accessories or enhancements that are affixed to any leased goods and (ii) the principal amount of Indebtedness secured by any such Lien shall at no time exceed 100% of the original purchase price of such property at the time it was
acquired (it being understood that Liens of the type described in this subsection (i) incurred by a Restricted Subsidiary before such time as it became a Restricted Subsidiary are permitted under this subsection (i)); 

(j)    Liens on property or assets acquired in a transaction permitted by Section 7.02 or of a
Person which becomes a Restricted Subsidiary after the date hereof; provided that (i) such Liens existed at the time such property or assets were acquired or such entity became a Subsidiary and were not created in anticipation thereof,
(ii) such Liens do not extend to any other property or assets of such Person (other than the proceeds of the property or assets initially subject to such Lien) or of the Borrower or any Restricted Subsidiary and (iii) the amount of
Indebtedness secured thereby is not increased; 
 (k)    Liens on the property of the Borrower or any of its
Subsidiaries, as a tenant under a lease or sublease entered into in the ordinary course of business by such Person, in favor of the landlord under such lease or sublease, securing the tenant’s performance under such lease or sublease, as such
Liens are provided to the landlord under applicable law and not waived by the landlord; 
 (l)    Liens (including those
arising from precautionary UCC financing statement filings and those which are security interests for purposes of the Personal Property Securities Act of 2009 (Cth)) with respect to bailments, operating leases or consignment or retention of title
arrangements entered into by the Borrower or any of its Restricted Subsidiaries in the ordinary course of business; 

  
 97 

 (m)    Liens securing Indebtedness permitted under Section 7.03(c), to
the extent that the Indebtedness being refinanced was originally secured in accordance with this Section 7.01, provided that such Lien does not apply to any additional property or assets of the Borrower or any
Restricted Subsidiary (other than property or assets within the scope of the original granting clause or the proceeds of the property or assets subject to such Lien); 

(n)    Liens securing Indebtedness or other obligations of a non-Guarantor
Restricted Subsidiary to the Borrower or a Guarantor; 
 (o)    leases, subleases, licenses and rights-of-use granted to others incurred in the ordinary course of business and that do not materially and adversely affect the use of the property encumbered thereby for its
intended purpose; 
 (p)    (i) Liens in favor of a banking institution arising by operation of law or any contract
encumbering deposits (including the right of set-off) held by such banking institutions incurred in the ordinary course of business and which are within the general parameters customary in the banking industry
or (ii) contractual rights of setoff to the extent constituting Liens; 
 (q)    Liens on Capital Stock of any
Unrestricted Subsidiary, solely to the extent such Capital Stock does not constitute Collateral; 
 (r)    Liens on
Receivables Assets pursuant to any Permitted Securitization Programs or under any other agreement under which such receivables or rights are transferred in a manner permitted hereunder (to the extent, in each case, that any such Disposition of
receivables is deemed to give rise to a Lien); 
 (s)    Liens in favor of an escrow agent arising under an escrow
arrangement incurred in connection with the issuance of notes with respect to the proceeds of such notes and anticipated interest expenses with respect to such notes; 

(t)    Liens securing Incremental Notes, Refinancing Notes or Permitted Refinancing Indebtedness of the foregoing;
provided that (i) such Liens rank junior or pari passu with the Liens securing the Secured Obligations pursuant to the Security Documents, (ii) the rights of the holders of the Incremental Notes, Refinancing Notes or such
Permitted Refinancing Indebtedness are subject to the Collateral Trust Agreement with respect to such Liens, (iii) such Liens encumber only the assets, or a subset of the assets, that secure the Secured Obligations and (iv) for the
avoidance of doubt, Liens shall only be permitted under this Section 7.01(t) to the extent that the Incremental Notes, Refinancing Notes or Permitted Refinancing Indebtedness are permitted to be secured under Section 7.03;

 (u)    Permitted Real Estate Encumbrances; 

(v)    [reserved]; 

  
 98 

 (w)    subject to the Collateral Trust Agreement, Liens on the Collateral in
favor of the Collateral Trustee for the benefit of holders of Priority Lien Notes Indebtedness securing the Priority Lien Notes Indebtedness permitted pursuant to Section 7.03(o); 

(x)    Liens on assets of Foreign Subsidiaries securing Indebtedness of Foreign Subsidiaries; 

(y)    other Liens securing Indebtedness or obligations of the Loan Parties in an aggregate amount at any time outstanding
not to exceed $75,000,000; 
 (z)    subject to an ABL Intercreditor Agreement, Liens on assets securing any ABL
Facility; and 
 (aa)    (x) Production Payments, royalties, dedication of reserves under supply agreements or similar
or related rights or interests granted, taken subject to, or otherwise imposed on properties or (y) cross charges, Liens or security arrangements entered into in respect of a Joint Venture for the benefit of a participant, manager or operator
of such Joint Venture, in each case, consistent with normal practices in the mining industry. 

7.02    Investments. Make any Investments, except: 

(a)    Investments held by the Borrower or such Restricted Subsidiary in the form of cash or Cash Equivalents; 

(b)    advances to officers, directors and employees of the Borrower and Subsidiaries in an aggregate amount not to exceed
$5,000,000 at any time outstanding, for travel, entertainment, relocation and analogous ordinary business purposes; 

(c)    Investments consisting of extensions of credit in the nature of accounts receivable or notes receivable arising
from the grant of trade credit in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors to the extent reasonably necessary in order to prevent or limit
loss; 
 (d)    Investments (including debt obligations and Capital Stock) received in satisfaction of judgments or in
connection with the bankruptcy or reorganization of suppliers and customers of the Borrower and its Restricted Subsidiaries and in settlement of delinquent obligations of, and other disputes with, such customers and suppliers arising in the ordinary
course of business; 
 (e)    (i) Investments in the nature of Production Payments, royalties, dedication of reserves
under supply agreements or similar or related rights or interests granted, taken subject to, or otherwise imposed on properties, (ii) cross charges, Liens or security arrangements entered into in respect of a Joint Venture for the benefit of a
participant, manager or operator of such Joint Venture or (iii) payments or other arrangements whereby the Borrower or a Restricted Subsidiary provides a loan, advance payment or guarantee in return for future coal deliveries, in each case
consistent with normal practices in the mining industry; 

  
 99 

 (f)    Investments in existence on the Closing Date and (other than
individual Investments the amount of which is less than $2,000,000) listed on Schedule 7.02 and extensions, renewals, modifications, restatements or replacements thereof; provided that no such extension, renewal, modification,
restatement or replacement shall increase the amount of such Investment except, in the case of a loan, by an amount equal to any Permitted Refinancing Increase; 

(g)    (i) promissory notes and other similar non-cash consideration received by
the Borrower and its Subsidiaries in connection with Dispositions not otherwise prohibited under this Agreement and (ii) Investments received in compromise or resolution of (A) obligations of trade creditors or customers that were incurred
in the ordinary course of business of the Borrower and its Subsidiaries, including pursuant to any plan of reorganization or similar arrangement upon the bankruptcy or insolvency of any trade creditor or customer, (B) litigation, arbitration or
other disputes or (C) the foreclosure with respect to any secured investment or other transfer of title with respect to any secured investment; 

(h)    Investments in any assets constituting a business unit received by the Borrower or its Subsidiaries by virtue of a
Permitted Asset Swap or acquired as a Capital Expenditure permitted under Section 7.14; 

(i)    Hedging Agreements or Cash Management Obligations permitted under Section 7.03(e); 

(j)    Investments consisting of purchases of the Priority Lien Notes to the extent not prohibited hereunder; 

(k)    Investments by the Borrower or any Restricted Subsidiary in Restricted Subsidiaries, and Investments by any
Restricted Subsidiary in the Borrower; provided that Investments in Restricted Subsidiaries that are not Loan Parties, when aggregated with Indebtedness made by any Loan Party to a non-Loan Party
pursuant to Section 7.03(f) (other than Indebtedness subject to the second proviso of such Section) and Disqualified Equity Interests issued by a non-Party to a Loan Party pursuant to Section 7.03(f) and
Investments made pursuant Section 7.02(n)(iii), shall not in the aggregate exceed the greater of $100,000,000 and 1.25% of Consolidated Net Tangible Assets; 

(l)    Investments by the Borrower or any Restricted Subsidiary in Unrestricted Subsidiaries and Joint Ventures in an
aggregate amount not to exceed the greater of $250,000,000 and 3.5% of Consolidated Net Tangible Assets; 

(m)    additional Investments by the Borrower or any Restricted Subsidiary (i) in an aggregate amount not to exceed
the greater of $100,000,000 and 1.25% of Consolidated Net Tangible Assets plus (ii) so long as no Event of Default is continuing immediately prior to making such Investment or would result therefrom, an amount equal to the Cumulative Amount;

 (n)    any acquisition of all or substantially all the assets of, or all of the Equity Interests in, or merger,
consolidation or amalgamation with, a Person or division or line of business of a Person if (i) no Event of Default is continuing immediately prior to making such Investment or 

  
 100 

 
would result therefrom, (ii) each applicable Loan Party and any such newly created or acquired Restricted Subsidiary shall, or will within the times specified therein, have complied with the
applicable requirements of Section 6.16 and (iii) in respect of an acquisition of targets that will not become Loan Parties or assets that will not be acquired by Loan Parties, the aggregate amount of such Investments,
when taken together with Indebtedness made by any Loan Party to a non-Loan Party pursuant to Section 7.03(f) (other than Indebtedness subject to the second proviso of such Section) and Disqualified Equity
Interests issued by a non-Party to a Loan Party pursuant to Section 7.03(f) and Investments in non-Loan Parties made pursuant to Section 7.02(k), shall not in the
aggregate exceed the greater of $100,000,000 and 1.25% of Consolidated Net Tangible Assets; 
 (o)    Investments
acquired as a capital contribution to the Borrower, or made in exchange for, or out of the net cash proceeds of, a substantially concurrent offering of Qualified Equity Interests of the Borrower; 

(p)    [reserved]; 

(q)    (i) receivables owing to the Borrower or any Restricted Subsidiary if created or acquired in the ordinary course of
business, (ii) endorsements for collection or deposit in the ordinary course of business and (iii) securities, instruments or other obligations received in compromise or settlement of debts created in the ordinary course of business, or by
reason of a composition or readjustment of debts or reorganization of another Person, or in satisfaction of claims or judgments; 

(r)    Investments made pursuant to surety bonds, reclamation bonds, performance bonds, bid bonds, appeal bonds and
related letters of credit or similar obligations, in each case, to the extent such surety bonds, reclamation bonds, performance bonds, bid bonds, appeal bonds, related letters of credit and similar obligations are permitted under this Agreement;

 (s)    Investments consisting of indemnification obligations in respect of performance bonds, bid bonds, appeal
bonds, surety bonds, reclamation bonds and completion guarantees and similar obligations under any Mining Law or Environmental Law or with respect to workers’ compensation benefits, in each case entered into in the ordinary course of business,
and pledges or deposits made in the ordinary course of business in support of obligations under existing coal sales contracts (and extensions or renewals thereof on similar terms); and 

(t)    Investments arising as a result of any Permitted Securitization Program. 

7.03    Indebtedness. Create, incur, assume or suffer to exist any Indebtedness except: 

(a)    Indebtedness arising under the Loan Documents (including any Incremental Facility or Refinancing Facility); 

(b)    Indebtedness outstanding on the date hereof and (other than any individual obligation with respect to such
Indebtedness that is less than $2,000,000) listed on Schedule 7.03; 

  
 101 

 (c)    any Permitted Refinancing Indebtedness of Indebtedness permitted under
Section 7.03(b) or of Indebtedness subsequently incurred under this Section 7.03(c); 
 (d)    Guarantees
of the Borrower or any Restricted Subsidiary in respect of Indebtedness otherwise permitted hereunder of the Borrower or any Restricted Subsidiary; 

(e)    Indebtedness in respect of (i) Cash Management Obligations incurred in the ordinary course of business and
(ii) Hedging Agreements incurred in the ordinary course of business, consistent with prudent business practice; 

(f)    (i) Indebtedness of the Borrower and any Restricted Subsidiary to any Restricted Subsidiary and of any Restricted
Subsidiary to the Borrower and (ii) Disqualified Equity Interests of a Restricted Subsidiary issued to the Borrower or another Restricted Subsidiary; provided that, (a) any such Indebtedness extended by any Loan Party or any non-Loan Party to a Loan Party must be subordinated to the Secured Obligations on customary terms and (b) Indebtedness made by any Loan Party to a non-Loan Party pursuant
to this Section 7.03(f) and any Disqualified Equity Interests of a non-Loan Party issued to a Loan Party, together with Investments in non-Loan Parties made
pursuant to Section 7.02(k) and Investments made pursuant Section 7.02(n)(iii), shall not in the aggregate exceed the greater of $100,000,000 and 1.25% of Consolidated Net Tangible Assets; provided further, that notwithstanding the
foregoing, the Indebtedness extended pursuant to the PIC Intercompany Loan Agreement and any other Indebtedness extended by any Loan Party to any non-Loan Party shall be permitted (and shall not be subject to
the cap in the immediately preceding proviso) so long as such Indebtedness is evidenced by a promissory note, in form and substance reasonably satisfactory to the Administrative Agent (it being acknowledged that the PIC Intercompany Note is
satisfactory to the Administrative Agent), and such promissory note shall be pledged to the Collateral Trustee as Collateral; 

(g)    [reserved]; 

(h)    Guarantees by the Borrower or any Restricted Subsidiary of borrowings by current or former officers, managers,
directors, employees or consultants in connection with the purchase of Equity Interests of the Borrower by any such person in an aggregate principal amount not to exceed $2,000,000 at any one time outstanding; 

(i)    Indebtedness incurred in connection with any Permitted Securitization Program or, subject to the ABL Intercreditor
Agreement, any ABL Facility; 
 (j)    Indebtedness incurred or assumed in connection with Permitted Acquisitions and
other permitted Investments consisting of the purchase of a business unit, line of business or a division of a Person or all or substantially all of the assets or all of the Capital Stock of another Person; provided that, after giving effect to the
incurrence thereof on a Pro Forma Basis, (i) if such Indebtedness is (or is intended to be) secured by the Collateral on a pari passu basis, the First Lien Leverage Ratio is equal to or less than 1.75 to 1.00 and
(ii) if such Indebtedness is secured by the Collateral on a junior-lien basis or unsecured, (a) the Total Leverage Ratio is equal to or less than 2.50 to 1.00 or (b) the Total Leverage Ratio is less than immediately prior to such
incurrence; provided that Indebtedness incurred by any non-Loan Party pursuant to this Section 7.03(j) shall not in the aggregate exceed the greater of $100,000,000 and 1.25% of Consolidated Net Tangible
Assets; 

  
 102 

 (k)    Indebtedness of the Borrower or any Restricted Subsidiary Incurred to
finance the acquisition, construction or improvement of any assets, including Capital Lease Obligations and any Indebtedness assumed in connection with the acquisition of any such assets or secured by a Lien on any such assets before the acquisition
thereof; provided that the aggregate principal amount at any time outstanding of any Indebtedness incurred pursuant to this clause, including all Permitted Refinancing Debt Incurred to refund, refinance or replace any Indebtedness incurred
pursuant to this clause, may not exceed the greater of (a) $150 million or (b) 2.0% of Consolidated Net Tangible Assets; provided that such amount may be increased by the then-outstanding principal amount of any operating lease in existence on
the Closing Date that is actually restructured to a Capital Lease after the Closing Date; 
 (l)    Indebtedness of non-Loan Party Restricted Subsidiaries in an aggregate amount not to exceed $75,000,000; 

(m)    Indebtedness of Loan Parties constituting (A) unsecured senior or senior subordinated debt securities,
(B) debt securities that are secured by a Lien ranking junior to the Liens securing the Secured Obligations or (C) debt securities that are secured by a Lien ranking pari passu with the Liens securing the Secured Obligations in an
aggregate principal amount, which when all amounts under clauses (A), (B) and (C) above are added to the aggregate principal amount of all the other Incremental Debt outstanding does not exceed the Incremental Debt Cap (such Indebtedness, the
“Incremental Notes”); provided that (1) with respect to Indebtedness of Loan Parties incurred under clause (m)(C) hereof, (x) the final stated maturity of such Indebtedness shall not be sooner than the Maturity
Date, (y) the weighted average life to maturity of such Indebtedness is greater than or equal to the weighted average life to maturity of the Term Loans and any other Incremental Facilities and Refinancing Facilities and (z) such
Indebtedness shall not be subject to any mandatory prepayment, repurchase or redemption provisions, unless the prepayment, repurchase or redemption of such Indebtedness is accompanied by the prepayment of a pro rata portion of the outstanding
principal of the Term Loans hereunder pursuant to Section 2.05 hereof, (2) with respect to Indebtedness of Loan Parties incurred under clause (m)(A) or (m)(B) hereof, (x) the final stated maturity of such Indebtedness shall not be
sooner than 180 days after the Maturity Date, (y) the weighted average life to maturity of such Indebtedness is greater than the weighted average life to maturity of the Term Loans and any other Incremental Facilities and Refinancing Facilities
and (z) such Indebtedness does not have scheduled amortization or payments of principal and shall not be subject to mandatory redemption, repurchase, prepayment or sinking fund obligations (other than pursuant to customary asset sale, event of
loss, excess cash flow (provided that such excess cash flow sweep does not require the application of any excess cash flow that would otherwise be required to be applied to the prepayment of the Term Loans pursuant to Section 2.05(g) hereof), change
of control prepayment provisions and a customary acceleration right after an event of default), in each case prior to the Maturity Date at the time such Indebtedness is incurred, (3) no Default or Event of Default shall have occurred or be
continuing at the time of occurrence of such Indebtedness or would result therefrom, (4) to the extent secured, (x) such Indebtedness shall not be secured by a Lien on any asset of the Borrower and its Restricted Subsidiaries that

  
 103 

 
does not also secure the Term Loan Facility and (y) such Indebtedness shall be subject to the Collateral Trust Agreement and (5) to the extent guaranteed, such Indebtedness shall not be
guaranteed by a Restricted Subsidiary that is not a Guarantor of the Secured Obligations; 
 (n)    (i) Indebtedness of
Loan Parties constituting (A) unsecured senior or senior subordinated debt securities, (B) debt securities that are secured by a Lien ranking junior to the Liens securing the Secured Obligations or (C) debt securities that are secured
by a Lien ranking pari passu with the Liens securing the Secured Obligations in an aggregate principal amount, which Refinances some or all of the Term Loans incurred hereunder and has an aggregate principal amount which does not exceed the
principal amount of the Term Loans hereunder which are being Refinanced except with respect to any Permitted Refinancing Increase (such Indebtedness, the “Refinancing Notes”); provided that (1) with respect to
Refinancing Notes incurred under clause (n)(C) hereof, (x) the final stated maturity of such Refinancing Notes shall not be sooner than the Maturity Date, (y) the weighted average life to maturity of such Refinancing Notes is greater than
or equal to the weighted average life to maturity of the Term Loans and any other Incremental Facilities and Refinancing Facilities and (z) such Refinancing Notes shall not be subject to any mandatory prepayment, repurchase or redemption
provisions, unless the prepayment, repurchase or redemption of such Indebtedness is accompanied by the prepayment of a pro rata portion of the outstanding principal of the Term Loans hereunder pursuant to Section 2.05 hereof, (2) with
respect to Refinancing Notes incurred under clause (n)(A) or (n)(B) hereof, (x) the final stated maturity of such Refinancing Notes shall not be sooner than 180 days after the Maturity Date, (y) the weighted average life to maturity of
such Refinancing Notes is greater than the weighted average life to maturity of the Term Loans and any other Incremental Facilities and Refinancing Facilities and (z) such Refinancing Notes do not have scheduled amortization or payments of
principal and shall not be subject to mandatory redemption, repurchase, prepayment or sinking fund obligations (other than pursuant to customary asset sale, event of loss, excess cash flow (provided that such excess cash flow sweep does not require
the application of any excess cash flow that would otherwise be required to be applied to the prepayment of the Term Loans pursuant to Section 2.05(g) hereof), change of control prepayment provisions and a customary acceleration right after an event
of default), in each case prior to the Maturity Date at the time such Refinancing Notes are incurred, (3) no Default or Event of Default shall have occurred or be continuing at the time of occurrence of such Refinancing Notes or would result
therefrom, (4) to the extent secured, (x) such Indebtedness shall not be secured by a Lien on any asset of the Borrower and its Restricted Subsidiaries that does not also secure the Term Loan Facility and (y) such Indebtedness shall
be subject to the Collateral Trust Agreement, and (5) to the extent guaranteed, such Indebtedness shall not be guaranteed by a Restricted Subsidiary that is not a Guarantor of the Secured Obligations; 

(o)    Priority Lien Notes Indebtedness in an aggregate principal amount, including all Permitted Refinancing Indebtedness
incurred to renew, refund, refinance, replace, defease or discharge any Indebtedness incurred pursuant to this Section 7.03(o), not to exceed $1,000,000,000 (plus any Permitted Refinancing Increase in respect thereof) at any one time
outstanding; provided that (x) such Indebtedness shall not be secured by a Lien on any asset of the Borrower and its Restricted Subsidiaries that does not also secure the Term Loan Facility, (y) such Indebtedness shall be subject to the
Collateral Trust Agreement and (z) such Indebtedness shall not be guaranteed by a Restricted Subsidiary that is not a Guarantor of the Secured Obligations; 

  
 104 

 (p)    [reserved]; 

(q)    additional Indebtedness of the Loan Parties in an amount not to exceed the greater of $150,000,000 and 2.0% of
Consolidated Net Tangible Assets in the aggregate at any time outstanding; 
 (r)    Indebtedness of the Borrower or any
Restricted Subsidiary in connection with one or more standby or trade-related letters of credit, performance bonds, bid bonds, appeal bonds, bankers acceptances, insurance obligations, reclamation obligations, bank guarantees, surety bonds,
completion guarantees or other similar bonds and obligations, including self-bonding arrangements, issued by the Borrower or a Restricted Subsidiary, in each case, in the ordinary course of business or pursuant to self-insurance obligations and not
in connection with the borrowing of money or the obtaining of advances; 
 (s)    Indebtedness arising from agreements
of the Borrower or any Restricted Subsidiaries providing for indemnification, adjustment of purchase price, earnouts or similar obligations, in each case, incurred or assumed in connection with the acquisition or disposition of any business, assets
or any Subsidiary; 
 (t)    Indebtedness arising from the honoring by a bank or other financial institution of a check,
draft or similar instrument drawn against insufficient funds in the ordinary course of business; 
 (u)    Indebtedness
of the Borrower or any Restricted Subsidiary consisting of (i) the financing of insurance premiums or (ii) take-or-pay obligations contained in supply or other
arrangements; and 
 (v)    any transaction permitted under Section 7.16. 

7.04    Fundamental Changes. Merge, dissolve, liquidate, consolidate with or into another Person, or Dispose
of (whether in one transaction or in a series of transactions) all or substantially all of the assets (whether now owned or hereafter acquired) of the Borrower and its Restricted Subsidiaries, taken as a whole, to or in favor of any Person, except
that, if no Default exists or would immediately result therefrom: 
 (a)    any Subsidiary may merge or consolidate with
(i) the Borrower, provided that the Borrower shall be the continuing or surviving Person or (ii) any one or more other Subsidiaries, provided that (A) when any wholly-owned Subsidiary is merging with another Subsidiary,
the wholly-owned Subsidiary shall be the continuing or surviving Person, (B) when any Restricted Subsidiary is merging with any other Subsidiary, the continuing or surviving Person (unless such surviving Person could otherwise be designated an
Unrestricted Subsidiary hereunder) shall be a Restricted Subsidiary, (C) when any Foreign Subsidiary is merging with any Domestic Subsidiary, the continuing or surviving Person shall be the Domestic Subsidiary and (D) when any Guarantor is
merging with any other Subsidiary, the continuing or surviving Person shall be a Guarantor (and shall not be a Specified Subsidiary); 

  
 105 

 (b)    any Subsidiary may Dispose of all or substantially all of its assets
(upon voluntary liquidation or otherwise) to the Borrower or to another Subsidiary; provided that (i) if the transferor in such a transaction is a Restricted Subsidiary, then the transferee must either be the Borrower or another
Restricted Subsidiary (unless such Disposition would otherwise be permitted as an Investment in an Unrestricted Subsidiary), (ii) if the transferor is a Domestic Subsidiary, then the transferee must either be the Borrower or another Domestic
Subsidiary and (iii) if the transferor is a Guarantor, then the transferee must either be the Borrower or another Guarantor (and shall not be a Specified Subsidiary); 

(c)    the Borrower and any Restricted Subsidiary may merge or consolidate with any other Person in a transaction in which
the Borrower or the Restricted Subsidiary, as applicable, is the surviving or continuing Person; provided that, (i) the Borrower may not merge or consolidate with a Restricted Subsidiary unless the Borrower is the surviving or continuing
Person and (ii) such merger or consolidation is permitted under Section 7.02(n) hereof; and 
 (d)    any
Restricted Subsidiary may liquidate or dissolve if the Borrower determines in good faith that such liquidation or dissolution is in the best interests of the Borrower and not materially disadvantageous to the Lenders and the assets, if any, of any
Restricted Subsidiary so liquidated or dissolved are transferred (x) to another Restricted Subsidiary or the Borrower and (y) to a Guarantor (that is not a Specified Subsidiary) or the Borrower if such liquidated or dissolved Restricted
Subsidiary is a Guarantor. 
 7.05    Dispositions. Make any Disposition or enter into any agreement to
make any Disposition (other than Dispositions permitted pursuant to Sections 7.01, 7.04(a) - (d) and 7.06), except: 

(a)    Dispositions of surplus, obsolete, used or worn out property or other property that, in the reasonable judgment of
the Borrower, is no longer useful in its business (but excluding any real property); 
 (b)    (i) Dispositions of
inventory, equipment or accounts receivable in the ordinary course of business and (ii) Dispositions of accounts receivable in connection with a factoring facility in an aggregate outstanding principal amount not to exceed $25,000,000 at any
time entered into by a non-Guarantor Restricted Subsidiary of the Borrower undertaken consistent with past practice or in the ordinary course of business; 

(c)    Dispositions of the assets set forth on Schedule 7.05; 

(d)    Dispositions of cash and Cash Equivalents pursuant to transactions permitted under this Agreement (including
pursuant to Section 7.02) or otherwise in the ordinary course of business; 

(e)    Dispositions of Receivables Assets pursuant to Permitted Securitization Programs; 

  
 106 

 (f)    (A) the sale of defaulted receivables in the ordinary course of
business and not as part of a Permitted Securitization Program and (B) Dispositions of receivables in connection with the compromise, settlement or collection thereof in the ordinary course of business or in bankruptcy or similar proceeding;

 (g)    licensing, sublicensing and cross-licensing arrangements involving any technology or other intellectual
property of the Borrower or any Restricted Subsidiary in the ordinary course of business or lapse or abandonment of intellectual property rights in the ordinary course of business that, in the reasonable judgment of the Borrower, is no longer useful
in its business; 
 (h)    Permitted Asset Swaps; 

(i)    (A) the grant in the ordinary course of business of any non-exclusive
easements, permits, licenses, rights of way, surface leases or other surface rights or interests and (B) any lease, sublease or license of assets (with a Loan Party as the lessor, sublessor or licensor) in the ordinary course of business; 

(j)    (i) transfers of condemned property as a result of the exercise of “eminent domain” or other similar
policies or (ii) transfers of properties that have been subject to a casualty event or act of god; 
 (k)    if
immediately after giving effect to such Disposition, (i) no Event of Default has occurred and is continuing, (ii) the consideration received for such Disposition shall be in an amount at least equal to the fair market value thereof as
reasonably determined by the Borrower in good faith and (iii) at least 75% of the consideration for such Dispositions undertaken pursuant to this Section 7.05(k) shall be paid in cash or Cash Equivalents, provided that, for
purposes of this provision, each of the following shall be deemed to be cash: 
 (A)    any securities, notes, other
obligations or assets received by the Borrower or any Restricted Subsidiary from such transferee that are converted by the Borrower or such Restricted Subsidiary into cash or Cash Equivalents within 180 days of the receipt thereof, to the extent of
the cash or Cash Equivalents received in that conversion; 
 (B)    any liabilities of the Borrower or any Restricted
Subsidiary (other than contingent liabilities) that are assumed by the transferee of any such assets and as a result of which the Borrower or such Restricted Subsidiary is released from further liability; and 

(C)    any Designated Non-Cash Consideration received by the Borrower or any of
its Restricted Subsidiaries in such Disposition; provided that the quantity equal to (1) the aggregate fair market value of such Designated Non-Cash Consideration, as reasonably determined by the
Borrower in good faith, taken together with the fair market value at the time of receipt of all other Designated Non-Cash Consideration received pursuant to this clause (B) minus (2) the
amount of Net Proceeds previously realized in cash from prior Designated Non-Cash Consideration shall not exceed $25,000,000; 

  
 107 

 (l)    any Investment permitted pursuant to Sections 7.02(l) or
7.02(m), which constitutes a Disposition; 
 (m)    Dispositions that do not constitute Asset Sales; 

(n)    to the extent allowable under Section 1031 of the Code, or any comparable or successor provision, any like
kind exchange of property for use in a Similar Business; 
 (o)    (i) any surrender or waiver of contractual rights or
the settlement, release, or surrender of contractual rights or other litigation claims in the ordinary course of business or (ii) any settlement, discount, write off, forgiveness, or cancellation of any Indebtedness owing by any present or
former directors, officers, or employees of the Borrower or` any Restricted Subsidiary or any of their successors or assigns; 

(p)    the unwinding or termination of any Hedging Obligations; and 

(q)    the sale of assets by the Borrower and its Restricted Subsidiaries consisting of Real Property solely to the extent
that such Real Property is not necessary for the normal conduct of operations of the Borrower and its Restricted Subsidiaries. 

7.06    Restricted Payments. Declare or make, directly or indirectly, any Restricted Payment except that:

 (a)    each Subsidiary may make Restricted Payments to the Borrower, the Subsidiaries and any other Person that owns
an Equity Interest in such Subsidiary, ratably according to their respective holdings of the type of Equity Interest in respect of which such Restricted Payment is being made or as otherwise required pursuant to its Organizational Documents; 

(b)    the Borrower and each Subsidiary may declare and make dividend payments or other distributions payable solely in
the common stock or other Equity Interests of such Person or another Subsidiary; 
 (c)    the Borrower may purchase,
redeem or otherwise acquire Equity Interests issued by it with the proceeds received from the substantially concurrent issuance of new shares of common stock or other Qualified Equity Interests of the Borrower; 

(d)    the Borrower or any of its Subsidiaries may purchase (i) Equity Interests in any Loan Party or options with
respect thereto held by directors, officers or employees of the Borrower or any Restricted Subsidiary (or their estates or authorized representatives) in connection with (A) the death, disability or termination of employment of any such
director, officer or employee or (B) any benefit or incentive plans to provide funds for the payment of any Tax or other amounts owing by such directors, officers or employees upon vesting of the Equity Interests or options provided under such
plans; and (ii) Equity Interests in any Loan Party for future issuance under any employee stock plan; provided that (a) no Event of Default has occurred and is continuing at the time of such purchase and (b) for both clauses
(i) and (ii), the aggregate cash consideration paid therefor in any twelve-month period after the Closing Date shall not exceed $5,000,000 in the aggregate; 

  
 108 

 (e)    so long as no Event of Default shall have occurred and be continuing
or would result therefrom, the Borrower and its Subsidiaries may make Restricted Payments in an amount not to exceed (i) $50,000,000 plus (ii) the Cumulative Amount; provided that, in the case of clause (ii), the Total Leverage Ratio
(calculated on a Pro Forma Basis) shall be less than or equal to 2.00:1.00 after giving effect to such Restricted Payment; 

(f)    the Borrower may make regularly scheduled payments of interest on any Junior Lien Indebtedness; 

(g)    the Borrower may make distributions, by dividend or otherwise, of shares of Capital Stock or Convertible Securities
to holders of the Convertible Securities; 
 (h)    the repayment, redemption, repurchase, defeasance or other
acquisition or retirement for value of unsecured Indebtedness, any Subordinated Indebtedness or any Junior Lien Indebtedness (i) with the net cash proceeds of, or in exchange for, Permitted Refinancing Indebtedness or (ii) in exchange for,
or out of the proceeds of, a substantially concurrent issue of new shares of common stock or other Qualified Equity Interests of the Borrower; 

(i)    the Borrower may make regularly scheduled payments of interest in respect of any Subordinated Indebtedness in
accordance with the terms thereof and only to the extent required by and subject to the subordination provisions contained therein; 

(j)    cash payments in lieu of fractional shares upon exercise of options or warrants or conversion or exchange of
convertible securities, repurchases of Equity Interests deemed to occur upon the exercise of options, warrants or other convertible securities to the extent such securities represent a portion of the exercise price of such options, warrants or other
convertible securities and repurchases of Equity Interests in connection with the withholding of a portion of the Equity Interests granted or awarded to a director or an employee to pay for the Taxes payable by such director or employee upon such
grant or award; 
 (k)    any payments made in connection with the Transactions in accordance with the Plan of
Reorganization; 
 (l)    notwithstanding the foregoing, if the Borrower declares a dividend or distribution in the
foregoing clauses (a) through (k), the Borrower can pay any such dividend or distribution within 60 days after the date of declaration thereof; and 

(m)    payments of dividends on the Borrower’s common stock or purchases by the Borrower of its common stock in an
aggregate amount in any calendar year not to exceed $25,000,000, so long as, the Total Leverage Ratio would not exceed 1.25 to 1.00 on a Pro Forma Basis; provided that no such Restricted Payment shall be made pursuant to this clause (m) until
the calendar year commencing on January 1, 2018. 
 7.07    Change in Nature of Business. Engage in
any material line of business other than a Similar Business. 

  
 109 

 7.08    Transactions with Affiliates. Enter into, renew or
extend any transaction or arrangement, including, without limitation, any purchase, sale, lease or exchange of property or assets or the rendering of any service, with any Affiliate of the Borrower or any Restricted Subsidiary (a “Related
Party Transaction”) involving an aggregate consideration in excess of $25,000,000, unless the Related Party Transaction is (a) not prohibited by this Agreement and (b) on fair and reasonable terms that are not materially less
favorable (as reasonably determined by the Borrower) to the Borrower or any of the relevant Restricted Subsidiaries than those that could be obtained in a comparable arm’s-length transaction with a Person
that is not an Affiliate of the Borrower; provided that (i) any Related Party Transaction or series of Related Party Transactions with an aggregate value in excess of $50,000,000 must first be approved by a majority of the board of
directors of the Borrower who are disinterested in the subject matter of the transaction pursuant to a resolution by the board of directors of the Borrower and (ii) with respect to any Related Party Transaction or series of Related Party
Transactions with an aggregate value in excess of $100,000,000, the Borrower must deliver to the Administrative Agent an opinion from an accounting, appraisal, or investment banking firm of national standing in the applicable jurisdiction
(x) stating that its terms are not materially less favorable to the Borrower or any of the relevant Restricted Subsidiaries that would have been obtained in a comparable transaction with an unrelated Person or (ii) as to the fairness to
the Borrower or any of the relevant Restricted Subsidiaries of such Related Party Transaction from a financial point of view. Notwithstanding the foregoing, the foregoing restrictions shall not apply to the following: 

(A)    transactions between or among the Borrower and any of its Loan Parties or between and among any Loan Parties; 

(B)    the payment of reasonable and customary fees and reimbursement of expenses payable to directors of the Borrower or
any of its Restricted Subsidiaries or to any Plan, Plan administrator or Plan trustee; 
 (C)    loans and advances to
directors, officers and employees to the extent permitted by Section 7.02; 
 (D)    the
arrangements with respect to the procurement of services of directors, officers, independent contractors, consultants or employees in the ordinary course of business and the payment of customary compensation (including bonuses) and other benefits
(including retirement, health, stock option and other benefit plans) and reasonable reimbursement arrangements in connection therewith; 

(E)    payments to directors and officers of the Borrower and its Restricted Subsidiaries in respect of the
indemnification of such Persons in such respective capacities from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements, as the case may be, pursuant to the
Organizational Documents or other corporate action of the Borrower or its Restricted Subsidiaries, respectively, or pursuant to applicable law; 

  
 110 

 (F)    intercompany Investments permitted pursuant to Section 7.02(k)
and intercompany Indebtedness and issuances of Disqualified Equity Interests, in each case, permitted pursuant to Section 7.03(f); 

(G)    Restricted Payments permitted by Section 7.06; and 

(H)    transactions arising under any contract, agreement, instrument or other arrangement in effect on the Closing Date
and set forth on Schedule 7.08, as amended, modified or replaced form time to time so long as the amended, modified or new arrangements, taken as a whole at the time such arrangements are entered into, are not materially less favorable to the
Borrower and its Restricted Subsidiaries than those in effect on the Closing Date. 
 7.09    [Reserved].

 7.10    Use of Proceeds. Use the proceeds of any Borrowing, whether directly or indirectly, and whether
immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally
incurred for such purpose. 
 7.11    [Reserved]. 

7.12    Burdensome Agreements. Enter into any Contractual Obligation that (x) limits the ability of the
Borrower or any Guarantor to create, incur, assume or suffer to exist any Lien upon any of its property to secure the Obligations hereunder or (y) limits the ability of any Subsidiary to make Restricted Payments to the Borrower or any Guarantor
or to otherwise transfer property to the Borrower or any Guarantor; provided, however, that the foregoing clause shall not apply to Contractual Obligations which: 

(a)    solely in the case of clause (y) of this Section 7.12, exist on the date hereof and
(to the extent not otherwise permitted by this Section 7.12) are listed on Schedule 7.12; 

(b)    are binding on a Restricted Subsidiary at the time such Restricted Subsidiary first becomes a Restricted Subsidiary
of the Borrower, so long as such Contractual Obligations were not entered into solely in contemplation of such Person becoming a Restricted Subsidiary of the Borrower; 

(c)    arise in connection with any Lien permitted by Section 7.01(i) to the extent such restrictions relate to the
assets (and any proceeds in respect thereof) which are the subject of such Lien; 
 (d)    represent Indebtedness
permitted by Section 7.03 (other than secured Indebtedness permitted by Section 7.03(k)); provided that such restrictions (i) apply solely to Restricted Subsidiaries that are not Guarantors or
(ii) are no more restrictive than the limitations (taken as a whole) set forth in the Loan Documents and do not materially impair the Borrower’s ability to grant the security interests to the Collateral Trustee contemplated by the Loan
Documents or pay the Obligations under the Loan Documents as and when due (as reasonably determined in good faith by the Borrower); 

  
 111 

 (e)    [reserved]; 

(f)    arise in connection with any Disposition permitted by Section 7.05 solely with respect to
the assets that are the subject of such Disposition; 
 (g)    are customary provisions in joint venture agreements and
other similar agreements applicable solely to such joint venture or the Equity Interests therein (but excluding any such agreement related to the Gibraltar Holdings or any Specified Subsidiary); 

(h)    are customary restrictions on leases, subleases, licenses or asset sale agreements otherwise permitted hereby so
long as such restrictions relate to the assets subject thereto; 
 (i)    are customary provisions restricting
subletting or assignment of any lease governing a leasehold interest of the Borrower or any Restricted Subsidiary; 

(j)    are customary limitations (including financial maintenance covenants) existing under or by reason of leases entered
into in the ordinary course of business; 
 (k)    are restrictions on cash or other deposits imposed under contracts
entered into in the ordinary course of business; 
 (l)    are customary provisions restricting assignment of any
agreements; 
 (m)    are restrictions imposed by any agreement relating to any Permitted Securitization Program to the
extent that such restrictions relate to the assets (and any proceeds in respect thereof) that are the subject of such Permitted Securitization Program; or 

(n)    are set forth in any agreement evidencing an amendment, modification, restatement, renewal, increase, supplement,
refunding, replacement or refinancing of the Contractual Obligations referred to in clauses (a) through (m) above; provided, that such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or
refinancing is, in the good faith judgment of the Borrower, not materially less favorable to the Loan Party with respect to such limitations than those applicable pursuant to such Contractual Obligations prior to such amendment, modification,
restatement, renewal, increase, supplement, refunding, replacement or refinancing. 
 7.13    Restrictions on
Specified Subsidiaries. With respect to each Specified Subsidiary, permit such Specified Subsidiary to: (a) retain any cash other than cash necessary to continue to operate in the ordinary course and comply with any Requirement of
Law, as reasonably determined by it or the Borrower, (b) incur, directly or indirectly, any Indebtedness (including intercompany Indebtedness) or any other obligation or liability whatsoever other than the Indebtedness and obligations under
this Agreement and the other Loan Documents and, to the extent otherwise permitted hereunder, the Priority Lien Notes Documents and the ABL Credit Documents; (c) create or suffer to exist any Lien upon any property or assets now owned or
hereafter acquired, leased or licensed by it other than the Liens created under the Security 

  
 112 

 
Documents to which it is a party and, to the extent otherwise permitted hereunder, the Priority Lien Notes Documents; (d) engage in any business or activity or own any assets other than
(i) holding 100% of the Equity Interests of Gibraltar Holdings and Peabody Investments (Gibraltar) Limited, as applicable, (ii) performing its obligations and activities incidental thereto under the Loan Documents, the Priority Lien Notes
Documents and the ABL Credit Documents; and (iii) making Restricted Payments to a Guarantor or the Borrower; (e) consolidate with or merge with or into, or convey, transfer, lease or license any of its assets to, any Person; (f) sell
or otherwise dispose of any Equity Interests of any of its Subsidiaries; (g) create or acquire any Subsidiary or make or own any Investment in any Person, in each case, after the Closing Date; or (h) fail to hold itself out to the public
as a legal entity separate and distinct from all other Persons. 
 7.14    Maximum Capital Expenditures. Make or
incur Capital Expenditures, in any fiscal year indicated below, in an aggregate amount for Borrower and its Restricted Subsidiaries in excess of (a) the sum of (i) the corresponding amount set forth below opposite such fiscal year (the
“Annual CapEx Amount”) plus (ii) the difference between the Annual CapEx Amount for the immediately preceding fiscal year and the amount of Capital Expenditures actually made in such fiscal year (with the amount
of any rollover from the prior fiscal year being deemed to be used first), plus (iii) up to 50% of the Annual CapEx Amount for the immediately succeeding fiscal year (any such amount, a “Carry Back Amount”) and less
(iv) the amount of any Capital Expenditures made in the immediately preceding fiscal year in reliance on the Carry Back Amount:  
  

					
	 Fiscal Year
	  	Capital Expenditures	 
	 Fiscal year ending December 31, 2017
	  	$	220,000,000	 
	 Fiscal year ending December 31, 2018
	  	$	220,000,000	 
	 Fiscal year ending December 31, 2019
	  	$	250,000,000	 
	 Fiscal year ending December 31, 2020
	  	$	250,000,000	 
	 Fiscal year ending December 31, 2021 and each fiscal year ending thereafter
	  	$	300,000,000	 

 , plus (b) so long as no Event of Default is continuing immediately prior to making such Capital
Expenditure or would result therefrom, an amount equal to the Cumulative Amount. For purposes of this Section 7.14, Capital Expenditures shall not include major component expenditures that are classified as such subsequent to fresh start
accounting. 
 7.15    Fiscal Year. Change its fiscal year-end
from December 31. 
 7.16    Sale and Lease-Backs. Become or remain liable as lessee or as a guarantor or
other surety with respect to any lease of any property (whether real, personal or mixed), whether now owned or hereafter acquired, which the Borrower or such Restricted Subsidiary (a) has sold or transferred or is to sell or to transfer to any
other Person (other than the 

  
 113 

 
Borrower or any of its Restricted Subsidiaries), to the extent involving the sale of assets with a fair market value in excess of $100,000,000 in the aggregate and (b) intends to use for
substantially the same purpose as any other property which has been or is to be sold or transferred by the Borrower or such Restricted Subsidiary to any Person (other than the Borrower or any of its Restricted Subsidiaries) in connection with such
lease. 
 7.17    Amendments or Waivers of Organizational Documents. Agree to any amendment, restatement,
supplement or other modification to, or waiver of, any of its Organizational Documents after the Closing Date, in each case, to the extent the same would reasonably be expected to be material and adverse to any Secured Party (in the good faith
determination of the Borrower), without obtaining the prior written consent of Required Lenders to such amendment, restatement, supplement or other modification or waiver. 

7.18    Restructuring Transactions. Nothing in this Article VII shall prohibit the Borrower and its
Subsidiaries from consummating the Permitted Restructuring Transactions. 
 ARTICLE VIII. 

EVENTS OF DEFAULT AND REMEDIES 

8.01    Events of Default. Any of the following shall constitute an “Event of Default”:

 (a)    Non-Payment. The Borrower or any other Loan Party fails to pay
(i) when and as required to be paid herein, any amount of principal of any Loan, or (ii) within five days after the same becomes due, any interest on any Loan, or any fee due hereunder, any other amount payable hereunder or under any other
Loan Document; or 
 (b)    Specific Covenants. The Borrower fails to perform or observe any term, covenant or
agreement contained in any of Sections 6.01(a), 6.01(b), 6.02(b), 6.03(a), 6.05, 6.11 or Article VII; or 

(c)    Other Defaults. Any Loan Party fails to perform or observe any other covenant or agreement (not specified in
subsection (a) or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for 30 days; or 

(d)    Representations and Warranties. Any representation, warranty, certification or statement of fact made or
deemed made by or on behalf of the Borrower or any other Loan Party herein, in any other Loan Document, or in any document delivered in connection herewith or therewith shall be incorrect or misleading in any material respect when made or deemed
made; or 
 (e)    Cross-Default. The Borrower or any Restricted Subsidiary (A) fails to make any payment
when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder) in each case having an aggregate principal amount of more than the
Threshold Amount, beyond the period of grace, if any, provided in the instrument or agreement under which such Indebtedness or Guarantee was created, (B) fails to observe or perform any other agreement or condition

  
 114 

 
relating to any such Indebtedness or Guarantee or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which default or
other event is to permit the holder or holders of such Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice
if required, such Indebtedness to become due prior to its stated maturity, or such Guarantee to become due or payable, or (C) fails to observe or perform any agreement or condition relating to any such Indebtedness or Guarantee or contained in
any instrument or agreement evidencing, securing or relating thereto, or any other event occurs, as a result of which default or other event, the holder or holders of such Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a
trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) shall have caused, with the giving of notice if required, such Indebtedness to become due prior to its stated maturity, or such Guarantee to become due or payable;
or 
 (f)    Insolvency Proceedings, Etc. Subject to Section 8.03, any Loan Party or
any of its Restricted Subsidiaries institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee,
custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any substantial part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the
application or consent of such Person and the appointment continues undischarged or unstayed for 60 calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any substantial part of its property is
instituted without the consent of such Person and continues undismissed or unstayed for 60 calendar days, or an order for relief is entered in any such proceeding; or 

(g)    Inability to Pay Debts; Attachment. Subject to Section 8.03, (i) the Borrower or
any Restricted Subsidiary becomes unable or admits in writing its inability or fails generally to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or any
substantial part of the property of any such Person and is not released, vacated or fully bonded within 60 days after its issue or levy; or 

(h)    Judgments. There is entered against the Borrower or any Restricted Subsidiary a final judgment or order for
the payment of money in an aggregate amount exceeding the Threshold Amount (to the extent not covered by independent third party insurance), and such judgments or orders shall not have been vacated, discharged, stayed or bonded pending appeal within
60 days from the entry thereof; or 
 (i)    ERISA. The occurrence of any of the following events that,
individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect: (i) an ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or could reasonably be expected to result
in an actual obligation to pay money of the Borrower under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC, or (ii) the Borrower or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace
period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan; or 

  
 115 

 (j)    Invalidity of Loan Documents. Any Loan Document, at any time
after its execution and delivery and for any reason other than as expressly permitted hereunder or Payment In Full, ceases to be in full force and effect; or any Loan Party or any other Person contests in any manner the validity or enforceability of
any Loan Document; or any Loan Party denies that it has any or further liability or obligation under any Loan Document, or purports to revoke, terminate or rescind any Loan Document; or any Security Document ceases to create a valid Lien with the
priority required thereby on the Collateral covered thereby (other than as expressly permitted thereunder or solely as a result of the acts or omissions of the Administrative Agent or Collateral Trustee (including failure to maintain possession of
any stock certificates, or other instruments delivered to it under any Security Document)); or 
 (k)    Change of
Control. There occurs any Change of Control; or 
 (l)    Subordinated Indebtedness. Any Subordinated
Indebtedness or any Junior Lien Indebtedness permitted hereunder or the guarantees thereof or, in the case of Junior Lien Indebtedness, the Liens securing such Junior Lien Indebtedness, shall cease, for any reason, to be validly subordinated to the
Obligations of the Loan Parties hereunder, as provided in the Collateral Trust Agreement or the indenture governing such Subordinated Indebtedness or Junior Lien Indebtedness, or any Loan Party, any Affiliate of any Loan Party, the trustee in
respect of the Subordinated Notes or Junior Lien Indebtedness or the holders of at least 25% in aggregate principal amount of the Subordinated Notes or Junior Lien Indebtedness shall so assert. 

8.02    Remedies Upon Event of Default. If any Event of Default occurs and is continuing, the Administrative
Agent shall, at the request of, or may, with the consent of, the Required Lenders (except with respect to an Event of Default under Section 8.01(b) when such Event of Default does not exist with respect to the Term Loans), take any or all of
the following actions: 
 (a)    declare the commitment of each Lender to make Loans to be terminated, whereupon such
commitments and obligation shall be terminated; 
 (b)    declare the unpaid principal amount of all outstanding Loans,
all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby
expressly waived by the Borrower; 
 (c)    [reserved]; and 

(d)    exercise on behalf of itself and the Lenders all rights and remedies available to it and the Lenders under the Loan
Documents or applicable law; 
 provided, however, that upon the occurrence of an actual or deemed entry of an order for relief with respect
to the Borrower under Debtor Relief Laws of the United States or any other Event of Default under Section 8.01(f) or (g) hereof, the obligation of each Lender to make Loans shall automatically terminate and the unpaid principal amount of all
outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable, in each case without further act of the Administrative Agent or any Lender. 

  
 116 

 8.03    Exclusion of Immaterial Subsidiaries. Solely for the
purposes of determining whether an Event of Default has occurred under clause (f) or (g) of Section 8.01, any reference in any such clause to any Restricted Subsidiary shall be deemed not to include any Restricted
Subsidiary affected by any event or circumstance referred to in any such clause that did not, as of the last day of the fiscal quarter of the Borrower most recently ended, have assets with a value in excess of 5% of the Tangible Assets or 5% of
consolidated total revenues, in each case, of the Borrower and the Restricted Subsidiaries as of such date; provided that if it is necessary to exclude more than one Restricted Subsidiary from clause (f) or (g) of
Section 8.01 pursuant to this Section 8.03 in order to avoid an Event of Default thereunder, all excluded Restricted Subsidiaries shall be considered to be a single consolidated Restricted
Subsidiary for purposes of determining whether the condition specified above is satisfied. 

8.04    Application of Funds. Subject to the Collateral Trust Agreement, after the exercise of remedies
provided for in Section 8.02 (or after the Loans have automatically become immediately due and payable), any amounts received on account of the Secured Obligations (including proceeds of Collateral) shall be applied by the
Administrative Agent in the following order: 
 First, to payment of that portion of the Obligations constituting fees, indemnities,
expenses and other amounts (including fees, charges and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in its capacity as such; 

Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal and
interest) payable to the Lenders (including fees, charges and disbursements of counsel to the respective Lenders (including fees and time charges for attorneys who may be employees of any Lender) and amounts payable under Article III),
ratably among them in proportion to the respective amounts described in this clause Second payable to them; 
 Third, to
payment of that portion of the Obligations constituting accrued and unpaid interest on the Loans and other Obligations, ratably among the Lenders in proportion to the respective amounts described in this clause Third payable to them; 

Fourth, to payment of that portion of the Obligations constituting unpaid principal of the Loans and to payment of the unpaid Secured
Hedging Obligations, ratably among the Hedge Banks to the Secured Hedging Agreements giving rise to such Secured Hedging Obligations in proportion to the respective amounts described in this clause Fourth held by them; and 

Last, the balance, if any, after all of the Secured Obligations have been indefeasibly paid in full, to the Borrower or as otherwise
required by Law. 
 ARTICLE IX. 

ADMINISTRATIVE AGENT 

9.01    Appointment and Authority. Each of the Lenders hereby irrevocably appoints Goldman Sachs Bank USA to
act on its behalf as the Administrative Agent hereunder 

  
 117 

 
and under the other Loan Documents and irrevocably authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers, rights and remedies as are delegated or
granted to the Administrative Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. Except with respect to Section 9.06, Section 9.10 and
Section 9.12, the provisions of this Article are solely for the benefit of the Administrative Agent and the Lenders, and neither the Borrower, nor any other Loan Party shall have rights as a third party beneficiary of any
of such provisions. In performing its functions and duties hereunder, the Administrative Agent shall act solely as an agent of the Lenders and does not assume and shall not be deemed to have assumed any obligation towards or relationship of agency
or trust with or for the Borrower or any of its Subsidiaries. 
 9.02    Rights as a Lender. The agency
hereby created shall in no way impair or affect any of the rights and powers of, or impose any duties or obligations upon, the Administrative Agent in its individual capacity as a Lender hereunder. With respect to its participation in the Loans, the
Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or
“Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits
from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the
Administrative Agent hereunder, and may accept fees and other considerations from the Borrower for service in connection herewith and otherwise without any duty to account therefor to the Lenders. 

9.03    Exculpatory Provisions. The Administrative Agent shall not have any duties or obligations except
those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, the Administrative Agent: 

(a)    shall not be subject to any fiduciary or other implied duties, regardless of whether a Default or Event of Default
has occurred and is continuing; 
 (b)    shall not have any duty to take any discretionary action or exercise any
discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or
percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may
expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable law, including, for the avoidance of doubt, any action that, in its opinion or the opinion of its counsel, may violate the automatic stay under any
Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and 

(c)    shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and
shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity; and

  
 118 

 (d)    shall not be responsible or have any liability for or in connection
with, or have any duty to ascertain, inquire into, monitor, maintain, update or enforce, compliance with the provisions hereof relating to Disqualified Institutions. Without limiting the generality of the foregoing, the Administrative Agent shall
not (x) be obligated to ascertain, monitor or inquire as to whether any Lender or Participant or prospective Lender or Participant is a Disqualified Institution or (y) have any liability with respect to or arising out of any assignment or
participation of Loans, or disclosure of confidential information, to any Disqualified Institution. 
 Neither the Administrative Agent nor
any of its officers, partners, directors, employees or agents shall be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be
necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in Section 10.01 and 8.02) or (ii) in the absence of its own bad faith, gross
negligence or willful misconduct, as determined by a final, non-appealable judgment of a court of competent jurisdiction. The Administrative Agent shall be deemed not to have knowledge of any Default or Event
of Default unless and until notice describing such Default is given to the Administrative Agent by the Borrower or a Lender. 
 The
Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any recital, statement, warranty or representation made in or in connection with this Agreement or any other Loan Document or made in any
written or oral statements made in connection with the Loan Documents and the transactions contemplated thereby, (ii) the contents of any financial or other statements, instruments, certificate, report or other document delivered hereunder or
thereunder or in connection herewith or therewith, whether made by the Administrative Agent to the Lenders or by or on behalf of any Loan Party to the Administrative Agent or any Lender in connection with the Loan Documents and the transactions
contemplated thereby, (iii) the financial condition or business affairs of any Loan Party or any other Person liable for the payment of any Obligations, (iv) the performance or observance of any of the covenants, agreements or other terms
or conditions set forth herein or therein or the use of proceeds of the Loans or the occurrence or possible occurrence of any Default or Event of Default or to make any disclosures with respect to the foregoing, (iv) the execution, validity,
enforceability, effectiveness, genuineness, collectability or sufficiency of this Agreement, any other Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Article IV or
elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. Anything contained herein to the contrary notwithstanding, the Administrative Agent shall not have any liability arising from
confirmation of the amount of outstanding Loans or the component amounts thereof. 
 9.04    Reliance by
Administrative Agent. The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any
electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement
made to it orally or by telephone and 

  
 119 

 
believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan that
by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent shall have received notice to the contrary from such Lender prior
to the making of such Loan. The Administrative Agent shall be entitled to rely on and may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any
action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

9.05    Delegation of Duties. The Administrative Agent may perform any and all of its duties and exercise
its rights and powers hereunder or under any other Loan Document by or through any one or more sub agents appointed by the Administrative Agent. The Administrative Agent and any such sub agent may perform any and all of its duties and exercise its
rights and powers by or through their respective Related Parties. The exculpatory, indemnification and other provisions of this Article and Section 10.04 shall apply to any such sub agent and to the Related Parties of the
Administrative Agent and any such sub agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. All of the rights, benefits,
and privileges (including the exculpatory and indemnification provisions) of this Article shall apply to any such sub agent and to the Related Parties of any such sub agent, and shall apply to their respective activities as sub agent as if such sub
agent and Related Parties were named herein. Notwithstanding anything herein to the contrary, with respect to each sub agent appointed by the Administrative Agent, (i) such sub agent shall be a third party beneficiary under this Agreement with
respect to all such rights, benefits and privileges (including exculpatory rights and rights to indemnification) and shall have all of the rights and benefits of a third party beneficiary, including an independent right of action to enforce such
rights, benefits and privileges (including exculpatory rights and rights to indemnification) directly, without the consent or joinder of any other Person, against any or all Loan Parties and the Lenders, (ii) such rights, benefits and
privileges (including exculpatory rights and rights to indemnification) shall not be modified or amended without the consent of such sub agent, and (iii) such sub agent shall only have obligations to Administrative Agent and not to any Loan
Party, Lender or any other Person, and no Loan Party, Lender or any other Person shall have any rights, directly or indirectly, as a third party beneficiary or otherwise, against such sub agent. 

9.06    Resignation of Administrative Agent. The Administrative Agent may at any time give notice of its
resignation to the Lenders and the Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, with the approval of the Borrower unless an Event of Default under Section 8.01(f) or (g) has
occurred or is continuing (such approval not to be unreasonably withheld), to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States. If no such successor
shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may on behalf of the
Lenders, appoint a successor Administrative Agent meeting the qualifications set forth above; provided that if the Administrative Agent shall notify the Borrower and the Lenders that no qualifying

  
 120 

 
Person has accepted such appointment, then such resignation shall nonetheless become effective in accordance with such notice and (1) the retiring Administrative Agent shall be discharged
from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders under any of the Loan Documents, the retiring Administrative
Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and (2) all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall
instead be made by or to each Lender directly, until such time as the Required Lenders appoint a successor Administrative Agent as provided for above in this Section. Upon the acceptance of a successor’s appointment as Administrative Agent
hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be discharged from all of its duties
and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). Upon the acceptance of a successor’s appointment as the Administrative Agent, hereunder, and upon the execution
and filing or recording of such financing statements, or amendments thereto, and such other instruments or notices, as may be necessary or desirable, or as the Required Lenders may request, in order to continue the perfection of the Liens granted or
purported to be granted by the Security Documents, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall
be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by the Borrower to a successor Administrative Agent shall be
the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article and
Section 10.04 shall continue in effect for the benefit of such retiring Administrative Agent, its sub agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while
the retiring Administrative Agent was acting as Administrative Agent. 
 9.07    Non-Reliance on Administrative Agent and Other Lenders. 
 (a)    Each Lender
represents and warrants that it has, independently and without reliance upon the Administrative Agent, the Arrangers or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made
its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such
documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document
furnished hereunder or thereunder. 
 (b)    The Administrative Agent shall not have any duty or responsibility, either
initially or on a continuing basis, to make any such investigation or any such analysis on behalf of the Lenders or to provide any Lender with any credit or other information with respect thereto, whether coming into its possession before the making
of the Loans or at any time or times 

  
 121 

 
thereafter, and the Administrative Agent shall not have any responsibility with respect to the accuracy of or the completeness of any information provided to the Lenders. Each Lender, by
delivering its signature page to this Agreement or an Assignment and Assumption and funding its Term Loan on the Closing Date, shall be deemed to have acknowledged receipt of, and consented to and approved, each Loan Document and each other document
required to be approved by the Administrative Agent, Required Lenders or Lenders, as applicable on the Closing Date. 

(c)    Each Lender acknowledges that Borrower and certain Affiliates of the Loan Parties are Eligible Assignees hereunder
and may purchase Term Loans hereunder from Lenders from time to time, subject to the restrictions set forth in the definition of “Eligible Assignee” and Sections 2.19 and 2.20. 

9.08    No Other Duties, Etc. Except as expressly set forth herein, none of the bookrunners, Arrangers or
other titles listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent or a Lender hereunder. The
Administrative Agent shall have only those duties and responsibilities that are expressly specified herein and the other Loan Documents. The Administrative Agent may exercise such powers, rights and remedies and perform such duties by or through its
agents or employees. The Administrative Agent shall not have, by reason hereof or any of the other Loan Documents, a fiduciary relationship in respect of any Lender or any other Person; and nothing herein or any of the other Loan Documents,
expressed or implied, is intended to or shall be so construed as to impose upon the Administrative Agent any obligations in respect hereof or any of the other Loan Documents except as expressly set forth herein or therein. 

9.09    Administrative Agent May File Proofs of Claim. In case of the pendency of any receivership,
insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan shall then be due and
payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise: 

(a)    to file a verified statement pursuant to rule 2019 of the Federal Rules of Bankruptcy Procedure that, in its sole
opinion, complies with such rule’s disclosure requirements for entities representing more than one creditor; 

(b)    to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the
Loans and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the Administrative Agent (including any claim for the reasonable compensation,
expenses, disbursements and advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders and the Administrative Agent under Sections 2.09 and 10.04) allowed in such
judicial proceeding; and 

  
 122 

 (c)    to collect and receive any monies or other property payable or
deliverable on any such claims and to distribute the same; 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar
official in any such judicial proceeding is hereby authorized by each Lender to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders, to
pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under
Section 2.09 and 10.04. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Administrative Agent, its agents and counsel, and any other amounts due the Administrative
Agents under Sections 2.09 and 10.04 out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money, securities and
other properties that the Lenders may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise. 

Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any
Lender any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or to authorize the Administrative Agent to vote in respect of the claim of any Lender in any such proceeding. 

9.10    Guaranty and Collateral Matters. 

(a)    Each Secured Party hereby authorizes Administrative Agent or Collateral Trustee, as applicable, on behalf of and for
the benefit of Secured Parties, to be the agent for and representative of Secured Parties with respect to the Guaranty, the Collateral and the Security Documents, as applicable; provided that neither the Administrative Agent nor Collateral Trustee
shall owe any fiduciary duty, duty of loyalty, duty of care, duty of disclosure or any other obligation whatsoever to any holder of Secured Obligations with respect to any Secured Hedging Agreement. Subject to Section 10.01, without further
written consent or authorization from any Secured Party, the Administrative Agent or Collateral Trustee, as applicable, may execute any documents or instruments necessary to (i) in connection with a sale or disposition of assets permitted by
this Agreement, release any Liens encumbering any item of Collateral that is the subject of such sale or other disposition of assets or to which the Required Lenders (or such other Lenders as may be required to give such consent under
Section 10.01) have otherwise consented or (ii) release any Guarantor from the Guaranty pursuant to Section 10.21 or with respect to which Required Lenders (or such other Lenders as may be required to give such consent under
Section 10.01) have otherwise consented. 
 (b)    The Lenders irrevocably authorize the Administrative Agent to
release any Guarantor from its obligations under the Guaranty in accordance with the terms of Section 10.21. Upon request by the Administrative Agent at any time, the Required Lenders will confirm in writing the
Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty pursuant to this Section 9.10. 

  
 123 

 (c)    The Lenders irrevocably authorize the Collateral Trustee, at its
option and in its discretion, to release any Lien on any property granted to or held by the Collateral Trustee under any Loan Document in accordance with the terms of Section 10.21. Upon request by the Administrative Agent
or the Collateral Trustee at any time, the Required Lenders will confirm in writing the Collateral Trustee’s authority to release its interest in particular types or items of property in accordance with this Section. 

9.11    Withholding Tax. To the extent required by any applicable law, the Administrative Agent may withhold from
any payment to any Lender an amount equivalent to any applicable withholding tax and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law. Without limiting the provisions of
Section 3.01, each Lender shall, and does hereby, indemnify the Administrative Agent, and shall make payable in respect thereof within 30 days after demand therefor, against any and all Taxes and any and all related losses,
claims, liabilities and expenses (including fees, charges and disbursements of any counsel for the Administrative Agent) incurred by or asserted against the Administrative Agent by the IRS or any other Governmental Authority as a result of the
failure of the Administrative Agent to properly withhold tax from amounts paid to or for the account of any Lender for any reason (including, without limitation, because the appropriate form was not delivered or not properly executed, or because
such Lender failed to notify the Administrative Agent of a change in circumstance that rendered the exemption from, or reduction of withholding tax ineffective). A certificate as to the amount of such payment or liability delivered to any Lender by
the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under this Agreement or any other Loan Document
against any amount due the Administrative Agent under this Section 9.11. The agreements in this Section 9.11 shall survive the resignation and/or replacement of the Administrative Agent, any
assignment of rights by, or the replacement of, a Lender, and the repayment, satisfaction or discharge of all other obligations. 

9.12    Intercreditor Agreements, Collateral Matters and Specified Amendments. 

(a)    Each Lender (and each Person that becomes a Lender hereunder pursuant to Section 10.06)
hereby authorizes and directs the Administrative Agent and the Collateral Trustee to enter into each of the Collateral Trust Agreement and any ABL Intercreditor Agreement, as applicable, on behalf of such Lender needed to effectuate the transactions
permitted by this Agreement and agrees that the Administrative Agent and the Collateral Trustee may take such actions on its behalf as is contemplated by the terms of such applicable Intercreditor Agreement. Without limiting the provisions of
Sections 9.03 and 10.04, each Lender hereby consents to (i) Goldman Sachs Bank USA and any successor serving in the capacity of Administrative Agent and agrees not to assert any claim (including as a result of any conflict of
interest) against Goldman Sachs Bank USA, or any such successor, arising from the role of the Administrative Agent or other agent under the Security Documents or any such Intercreditor Agreement so long as it is either acting in accordance with the
terms of such documents or otherwise has not engaged in bad faith, gross negligence or willful misconduct and (ii) Wilmington Trust, National Association or any such successor, arising from its role as the Collateral Trustee under the

  
 124 

 
Security Documents or any such Intercreditor Agreement so long as it is either acting in accordance with the terms of such documents or otherwise has not engaged in bad faith, gross negligence or
willful misconduct. In addition, each of Goldman Sachs Bank USA and Wilmington Trust, National Association, or any such successors, shall be authorized, without the consent of any Lender, to execute or to enter into amendments of, and amendments and
restatements of, the Security Documents, any such Intercreditor Agreement and any additional and replacement intercreditor agreements, in each case, in order to effect the subordination of and to provide for certain additional rights, obligations
and limitations in respect of, any Liens required by the terms of this Agreement to be Liens junior to, or pari passu with, the Secured Obligations, that are incurred as permitted by this Agreement, and to establish certain relative rights as
between the holders of the Secured Obligations and the holders of the Indebtedness secured by such Liens junior or pari passu with the Secured Obligations, including as contemplated by Section 6.16(g) and
Section 7.01. 
 (b)    The Lenders irrevocably authorize the Administrative Agent to enter
into any amendment contemplated by Sections 2.15(f), 2.16(e), 6.16(g), and 7.01(t) and any writing which creates a deemed amendment in connection with a Permitted Amendment. 

ARTICLE X. 

MISCELLANEOUS 

10.01    Amendments, Etc. Except as set forth in Sections 2.15 and 2.16, no amendment
or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by the Borrower, or any other Loan Party therefrom, shall be effective unless in writing signed by (1) the Required Lenders and the
Borrower, or the applicable Loan Party, as the case may be, and acknowledged by the Administrative Agent (except, in each case, as set forth in clauses (2), (3) and (4) below), (2) [reserved], (3) the Required Facility Lenders and the Borrower
and acknowledged by the Administrative Agent in the case of clause (i) below and (4) the parties to the Fee Letters in the case of the proviso after clause (i) below, and each such waiver or consent shall be effective only in the
specific instance and for the specific purpose for which given; provided, however, that no such amendment, waiver or consent shall: 

(a)    extend or increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant to
Section 8.02) without the written consent of such Lender; 
 (b)    postpone any date fixed by
this Agreement or any other Loan Document for any payment of principal, interest, fees or other amounts due to the Lenders (or any of them) (it being understood that the waiver of, or amendment to the terms of, any mandatory prepayment shall not
constitute such a postponement) or any mandatory reduction of the Aggregate Commitments hereunder without the written consent of each Lender directly affected thereby; 

(c)    waive, reduce or postpone the principal of, or the stated rate of interest specified herein on, any Loan, or
(subject to clause (z) of the second proviso to this Section 10.01) any fees or premiums or other amounts payable hereunder without the written consent of each Lender directly affected thereby; provided,
however, that, without limiting the effect of clauses (h) and (i) below or the proviso directly below, only the consent of the Required Lenders shall be necessary (i) to amend the definition of “Default Rate” or to waive
any obligation of the 

  
 125 

 
Borrower to pay interest at the Default Rate, (ii) to amend any financial covenant hereunder (or any defined term used therein) even if the effect of such amendment would be to reduce the
rate of interest on any Loan or to reduce any fee payable hereunder or (iii) to waive, reduce or postpone any scheduled prepayment; 

(d)    change Section 2.13 or Section 8.04 in a manner that would
alter the pro rata sharing of payments required thereby without the written consent of each Lender adversely affected thereby; 

(e)    [reserved]; 

(f)    change any provision of this Section 10.01 or the definitions of “Required Lenders” or
“Applicable Percentage” or any other provision hereof specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any determination or grant any consent hereunder without the
written consent of each Lender under the applicable Facility affected thereby; provided, with the consent of the Required Lenders, additional extensions of credit pursuant hereto may be included in the determination of ‘Required Lenders”
or “Applicable Percentage” on substantially the same basis as the Commitments and the Term Loans are included on the Closing Date; 

(g)    other than as permitted by Section 9.10 and Section 10.21,
release (i) all or substantially all of the Guarantors from the Guaranty except as expressly provided in the Loan Documents and except in connection with a “credit bid” undertaken by the Administrative Agent or Collateral Trustee at
the direction of the Required Lenders pursuant to Section 363(k), Section 1129(b)(2)(a)(ii) or otherwise of the Bankruptcy Code or other sale or disposition of assets in connection with an enforcement action with respect to the Collateral permitted
pursuant to the Loan Documents (in which case only the consent of the Required Lenders will be needed for such release) or (ii) all or substantially all of the collateral covered by the Security Documents without the written consent of each
Lender; 
 (h)    consent to the assignment or transfer by any Loan Party of any of its rights and obligations under any
Loan Documents without the written consent of each Lender adversely affected thereby; or 
 (i)    amend, waive or
otherwise modify any term or provision of a particular Facility in each case with only the consent of the Required Facility Lenders under such Facility, so long as such amendment, waiver or modification does not directly affect the Lenders under any
other Facility; 
 provided that, for the avoidance of doubt, all Lenders shall be deemed directly affected thereby with respect to
any amendment described in clauses (f), (g) and (h); 
 and, provided further, that (x) no amendment, modification,
termination or waiver of any provision of the Loan Documents, or consent to any departure by any Loan Party therefrom, shall amend, modify or waive this Agreement or the Security Agreement so as to alter the ratable treatment of Obligations and
Secured Hedging Obligations (including pursuant to Section 8.04) or the definition of “Hedging Obligations,” “Hedging Agreement,” “Obligations,” “Secured 

  
 126 

 
Hedging Agreement”, “Secured Hedging Obligations” or “Secured Obligations” (as defined herein or in any applicable Security Documents) in each case in a manner adverse to
any Hedge Bank with Secured Hedging Obligations then outstanding without the written consent of any such party; (y) no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders
required above, affect the rights or duties of the Administrative Agent under this Agreement or any other Loan Document; and (z) each Fee Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by the
parties to the applicable Fee Letter. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except that (i) the Commitment of such Lender
may not be increased or extended and (ii) the principal of any Loan owed to such Lender may not be reduced without the consent of such Lender. 

Notwithstanding the foregoing, the Borrower and the Administrative Agent may amend this Agreement and the other Loan Documents (and may
authorize the Collateral Trustee to amend the Collateral Trust Agreement) without the consent of any Lender (a) to cure any ambiguity, omission, mistake, error, defect or inconsistency (as reasonably determined by the Administrative Agent), so
long as such amendment, modification or supplement does not adversely affect the rights of any Lender or the Lenders shall have received at least five Business Days’ prior written notice thereof and the Administrative agent shall not have
received, within five Business Days of the date of such notice to the Lenders, a written notice from the Required Lenders stating that the Required Lenders object to such amendment, (b) to add a Guarantor with respect to the Loans or collateral
to secure the Loans or (c) to make administrative changes that do not adversely affect the rights of any Lender (including as contemplated by Section 2.15(d)(v), 2.16(d)(v) and the definition of Permitted Amendments). In addition,
the Administrative Agent, without the consent of any Lender, shall be permitted to enter into (and direct the Collateral Trustee, as applicable, to enter into) any amendments, waivers, modifications or supplements to any Intercreditor Agreement, if
the Administrative Agent would have been permitted hereunder to enter into a new Intercreditor Agreement which contained the terms set forth in such amendment, waiver, modification or supplement, at the time when such amendment, waiver, modification
or supplement is entered into. 
 In addition, notwithstanding the foregoing, in situations not otherwise governed by Sections 2.15
and 2.16, this Agreement may be amended (or amended and restated) with the written consent of the Required Lenders, the Administrative Agent, and the Borrower (x) to add one or more additional credit facilities to this Agreement and to
permit the extensions of credit from time to time outstanding thereunder and the accrued interest and fees in respect thereof (collectively, the “Additional Extensions of Credit”) to share ratably in the benefits of this Agreement
and the other Loan Documents with the Term Loans and the accrued interest and fees in respect thereof and (y) to include appropriately the Lenders holding such credit facilities in any determination of the Required Lenders; provided,
however, that no such amendment shall permit the Additional Extensions of Credit to share in preference to the Term Loans in the application of any mandatory prepayments without the consent of Required Lenders (without giving effect to such
Extensions of Credit). 

  
 127 

 The Borrower may, by written notice to the Administrative Agent from time to time, make one or
more offers to all Lenders under the applicable Facility to make one or more Permitted Amendments to such Facility pursuant to procedures reasonably specified by the Administrative Agent and reasonably acceptable to the Borrower. Such notice shall
set forth (a) the terms and conditions of the requested Permitted Amendments and (b) the date on which responses from the applicable Lenders in respect of such Permitted Amendment are required to be received (which shall not be less than
three Business Days after the date of such notice). Only those Lenders that consent to such Permitted Amendment (the “Accepting Lenders”) will have the maturity of their applicable Loans and Commitments extended and be entitled to
the benefits provided thereby, which shall have effect notwithstanding the pro rata sharing provisions of Section 2.13. The Borrower and each Accepting Lender shall execute and deliver to the Administrative Agent such
documentation as the Administrative Agent shall reasonably specify to evidence the acceptance of the Permitted Amendments and the terms and conditions thereof. The Administrative Agent shall promptly notify each Lender as to the effectiveness of
each Permitted Amendment. Each of the parties hereto hereby agrees that, upon the effectiveness of any Permitted Amendment, this Agreement shall be deemed amended, as may be necessary or appropriate, in the reasonable opinion of the Administrative
Agent, to effect the terms and provisions of the Permitted Amendment with respect to the Loans and Commitments of the Accepting Lenders (including any amendments necessary to treat the Loans and Commitments of the Accepting Lenders in a manner
consistent with the other Loans and Commitments under this Agreement or as contemplated by the Permitted Amendment). 
 The Administrative
Agent may, but shall have no obligation to, with the concurrence of any Lender, execute amendments, modifications, waivers or consents on behalf of such Lender. Any waiver or consent shall be effective only in the specific instance and for the
specific purpose for which it was given. No notice to or demand on any Loan Party in any case shall entitle any Loan Party to any other or further notice or demand in similar or other circumstances. 

Any such waiver and any such amendment or modification pursuant to this Section 10.01 shall be binding upon the
Borrower, the Lenders, the Administrative Agent and all future holders of the Loans. In the case of any waiver, the Borrower, the Lenders and the Administrative Agent shall be restored to their former positions and rights hereunder and under the
other Loan Documents, and any Default or Event of Default that is waived pursuant to this Section 10.01 shall be deemed to be cured and not continuing during the period of such waiver. 

10.02    Notices; Effectiveness; Electronic Communication. 

(a)    Notices Generally. Except in the case of notices and other communications expressly permitted to be given by
telephone, all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail, sent by telecopier (except for any notices sent to the
Administrative Agent) as follows or sent by electronic communication as provided in subsection (b) below, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone
number, as follows: 
 (i)    if to the Borrower or the Administrative Agent, to the address, telecopier number,
electronic mail address or telephone number specified for such Person on Schedule 10.02; and 

  
 128 

 (ii)    if to any other Lender, to the address, telecopier number,
electronic mail address or telephone number specified on Schedule 10.02 or in its Administrative Questionnaire. 
 Notices sent by hand or overnight courier
service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices sent by telecopier shall be deemed to have been given when received (except that, if not received during normal business hours for the
recipient, shall be deemed to have been received at the opening of business on the next business day for the recipient). Notices delivered through electronic communications to the extent provided in subsection (b) below, shall be effective as
provided in such subsection (b). Notwithstanding the foregoing, (a) no notice to the Administrative Agent shall be effective until received by the Administrative Agent and (b) any such notice or other communication shall at the request of
the Administrative Agent be provided to any sub agent appointed pursuant to Section 9.3(c) as designated by the Administrative Agent from time to time. 

(b)    Electronic Communications. Notices and other communications to the Administrative Agent or the Lenders may
be delivered or furnished by electronic communication (including e-mail and Internet or intranet websites, including the Platform) pursuant to procedures approved by the Administrative Agent, provided
that the foregoing shall not apply to notices to any Lender pursuant to Article II if such Lender has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication. The
Administrative Agent or the Borrower may, in their discretion, agree to accept notices and other communications to the Administrative Agent or the Borrower hereunder by electronic communications pursuant to procedures approved by the Administrative
Agent or the Borrower, provided that approval of such procedures may be limited to particular notices or communications. 
 Unless
the Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the
intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), provided that if such notice or other communication is
not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient, and (ii) notices or communications posted to an
Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or
communication is available and identifying the website address therefor. 
 (c)    The Platform. THE PLATFORM IS
PROVIDED “AS IS” AND “AS AVAILABLE”. THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR
OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY 

  
 129 

 
OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY
AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. Each Loan Party understands that the distribution of material through an electronic medium is not necessarily secure and that there are confidentiality and other risks associated
with such distribution. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower, any Lender or any other Person for losses, claims, damages,
liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of the Borrower’s or the Administrative Agent’s transmission of Borrower Materials through the Internet, except to the extent that such losses,
claims, damages, liabilities or expenses have resulted from the gross negligence or willful misconduct of such Agent Party, as determined by a final non-appealable judgment of a court of competent
jurisdiction; provided, however, that in no event shall the Borrower or any Agent Party have any liability to the Borrower, any Lender or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed
to direct or actual damages); provided that such waiver shall not limit any Loan Party’s reimbursement or indemnification obligations under Sections 10.04(a) or 10.4(b), respectively. Each Loan Party, each Lender, and the
Administrative Agent agrees that the Administrative Agent may, but shall not be obligated to, store any electronic communication on the Platform in accordance with the Administrative Agent’s customary document retention procedures and policies.

 (d)    Defaults. Any notice of Default or Event of Default may be provided by telephone if confirmed promptly
thereafter by delivery of written notice thereof. 
 (e)    Change of Address, Etc. The Borrower and the
Administrative Agent may change its address, electronic mail address, telecopier or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change its address, electronic mail
address, telecopier or telephone number for notices and other communications hereunder by notice to the Borrower and the Administrative Agent. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the
Administrative Agent has on record (i) an effective address, contact name, telephone number, telecopier number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such
Lender. 
 (f)    Reliance by Administrative Agent and Lenders. The Administrative Agent and the Lenders
shall be entitled to rely and act upon any notices purportedly given by or on behalf of the Borrower, even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of
notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. All telephonic notices to and other telephonic communications with the Administrative Agent may be recorded by the
Administrative Agent, and each of the parties hereto hereby consents to such recording. 
 (g)    Private Side
Information Contacts. Each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the “Private Side Information” or similar designation on the content declaration
screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s 

  
 130 

 
compliance procedures and applicable law, including United States federal and state securities laws, to make reference to information that is not made available through the “Public-Side
Information” portion of the Platform and that may contain Private-Side Information. In the event that any Public Lender has determined for itself to not access any information disclosed through the Platform or otherwise, such Public Lender
acknowledges that (i) other Lenders may have availed themselves of such information and (ii) neither the Borrower nor the Administrative Agent has any responsibility for such Public Lender’s decision to limit the scope of the
information it has obtained in connection with this Agreement and the other Loan Documents. 
 10.03    No Waiver;
Cumulative Remedies. No failure by any Lender or the Administrative Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall impair such right,
remedy, power or privilege or be construed to be a waiver of any default or acquiescence therein; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or under any other Loan Document preclude any other or
further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided and in the other Loan Documents are cumulative and not exclusive of any rights, remedies, powers and
privileges provided by law. Any forbearance or failure to exercise, and any delay in exercising, any right, power or remedy hereunder shall not impair any such right, power or remedy or be construed to be a waiver thereof, nor shall it preclude the
further exercise of any such right, power or remedy. 
 10.04    Expenses; Indemnity; Damage Waiver. 

(a)    Costs and Expenses. The Borrower shall pay (i) all reasonable and documented out-of-pocket legal and other expenses incurred by the Agents and their respective Affiliates and the Collateral Trustee (including the reasonable and documented fees, charges
and disbursements of a single counsel for the Agents and the Arrangers, a single local counsel in each relevant jurisdiction and any special counsel reasonably deemed necessary by the Administrative Agent and a separate counsel for the Collateral
Trustee), in connection with the syndication of the credit facilities provided for herein, the preparation, due diligence, negotiation, execution, delivery, administration and enforcement of this Agreement and the other Loan Documents or any
amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) [reserved] and (iii) all reasonable and documented out-of-pocket legal and other expenses (including the cost of any investigation or preparation) incurred by any Agent or any Lender or Collateral Trustee (including the
reasonable fees, charges and disbursements of any counsel for any Agent or any Lender, limited to one firm of counsel for all Indemnitees (as defined below), taken as a whole, and if necessary, by a single firm of local counsel in each appropriate
jurisdiction for all such Indemnitees, taken as a whole (and, in the case of an actual or perceived conflict of interest where the Indemnified Party affected by such conflict notifies the Borrower of the existence of such conflict, of another firm
of counsel for such affected Indemnitees and local counsel for the conflicted party and a separate counsel for the Collateral Trustee), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the
other Loan Documents, including its rights under this Section, or (B) in connection with the Loans made hereunder, including all such reasonable and documented
out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans. 

  
 131 

 (b)    Indemnification by the Borrower. The Borrower shall indemnify
the Agents (and any sub-agent thereof), the Arrangers and each Lender, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold
each Indemnitee harmless from, any and all losses, claims, damages, liabilities (including any Environmental Liability) and related reasonable and documented
out-of-pocket fees and expenses (including the reasonable documented out-of-pocket fees,
charges and disbursements of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee (whether or not such investigation, litigation, claim or proceeding is brought by the Borrower, the Borrower’s equity
holders, affiliates or creditors or an Indemnitee and whether or not any such Indemnitee is otherwise a party thereto) or by the Borrower or any other Loan Party arising out of, in connection with, or as a result of (i) the execution or
delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder, the consummation of the transactions
contemplated hereby or thereby, or, in the case of the Administrative Agent (and any sub-agent thereof) and its Related Parties only, the administration and enforcement of this Agreement and the other Loan
Documents, (ii) any Loan or the use or proposed use of the proceeds therefrom and (iii) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other
theory, whether brought by a third party or by the Borrower or any other Loan Party, and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that
such losses, claims, damages, liabilities or related expenses are found in a final, non-appealable judgment by a court of competent jurisdiction to (x) have resulted from the bad faith, gross negligence
or willful misconduct of such Indemnitee (or any of such Indemnitee’s controlled affiliates or any of its or their respective officers, directors, employees, agents, controlling persons or members of any of the foregoing), (y) result from
a claim brought by the Borrower or any other Loan Party against an Indemnitee for material breach of such Indemnitee’s obligations hereunder or under any other Loan Document or (z) have arisen out of or in connection with any claim,
litigation, loss or proceeding not involving an act or omission of the Borrower or any of its Related Parties and that is brought by an Indemnitee against another Indemnitee (other than any claims against an Indemnitee in its capacity or in
fulfilling its role as an administrative agent or arranger or any similar role under this Agreement or any claims arising out of any act or omission of the Borrower or any of its Affiliates). The Borrower also agrees that no Indemnitee shall have
any liability (whether direct or indirect, in contract, tort or otherwise) to the Borrower for or in connection with this Agreement or the other Loan Documents, any transactions contemplated hereby or thereby or such Indemnitees’ role or
services in connection herewith or therewith, except to the extent that any liability for losses, claims, demands, damages, liabilities or expenses incurred by the Borrower (i) resulted from the bad faith, gross negligence or willful misconduct
of such Indemnitee or (ii) resulted from a material breach by such Indemnitee (or any of such Indemnitee’s controlled affiliates or any of its or their respective officers, directors, employees, agents, controlling persons or members of
any of the foregoing) of the terms of this Agreement or the other Loan Documents (in the case of clauses (i) and (ii), as determined by a court of competent jurisdiction in a final, non-appealable
judgment). This Section 10.04(b) shall not apply with respect to Taxes other than any taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. 

  
 132 

 (c)    Reimbursement by Lenders. To the extent that the Borrower for
any reason fails to indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by it to the Agents (or any sub-agent thereof), the Arrangers or any Related Party of any of
the foregoing, each Lender severally agrees to pay to the Agents (or any such sub-agent), the Arrangers or such Related Party, as the case may be, such Lender’s Applicable Percentage (determined as of the
time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount, provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by
or asserted against the Agents (or any such sub-agent) or the Arrangers, or against any Related Party of any of the foregoing acting for the Agents (or any such
sub-agent) or the Arrangers in connection with such capacity. The obligations of the Lenders under this subsection (c) are subject to the provisions of Section 2.12(d). 

(d)    Waiver of Consequential Damages, Etc. To the fullest extent permitted by applicable law, no party hereto
shall assert, and each hereby waives, any claim against the Borrower and its Affiliates or any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of,
in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or the use of the proceeds thereof; provided that
such waiver shall not limit any Loan Party’s reimbursement or indemnification obligations under Sections 10.04(a) or 10.4(b), respectively. No Indemnitee referred to in subsection (b) above or the Borrower and its Affiliates
shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed by it through telecommunications, electronic or other information transmission systems in connection with this Agreement
or the other Loan Documents or the transactions contemplated hereby or thereby, except to the extent such damages result from the gross negligence or willful misconduct of such Indemnitee. 

(e)    Payments. All amounts due under this Section shall be payable not later than ten Business Days after demand
therefor. 
 (f)    Survival. The agreements in this Section shall survive the resignation of the Agents and the
Arrangers, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations and Secured Hedging Obligations. The reimbursement, indemnity and contribution
obligations of the Borrower under this Section 10.04 will be in addition to any liability which the Borrower may otherwise have, will extend upon the same terms and conditions to any affiliate of any Indemnitee and the partners, members,
directors, agents, employees, and controlling persons (if any), as the case may be, of any Indemnitee and any such affiliate, and will be binding upon and inure to the benefit of any successors and assigns of the Borrower, any Indemnitee, any such
affiliate, and any such Person. 
 10.05    Marshalling; Payments Set Aside. Neither any Agent nor any Lender or
Collateral Trustee shall be under any obligation to marshal any assets in favor of any Loan Party 

  
 133 

 
or any other Person or against or in payment of any or all of the Obligations. To the extent that any payment by or on behalf of the Borrower is made to the Agents, the Arrangers or any Lender,
or the Agents, the Arrangers, any Lender or the Collateral Trustee enforces any security interests or exercises its right of setoff, and such payment or the proceeds of such enforcement or setoff or any part thereof is subsequently invalidated,
declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Agents, the Arrangers or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection
with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied, and all Liens, rights and remedies therefor or related thereto, shall be
revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender severally agrees to pay to the Administrative Agent upon demand its applicable share (without duplication)
of any amount so recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the applicable Overnight Rate from time to time in effect,
in the applicable currency of such recovery or payment. The obligations of the Lenders under clause (b) of the preceding sentence shall survive Payment in Full and the termination of this Agreement. 

10.06    Successors and Assigns. 

(a)    Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns permitted hereby, except that no Loan Party may assign or otherwise transfer any of its rights or obligations hereunder, except through a transaction permitted hereunder,
without the prior written consent of the Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee in accordance with the provisions of
subsection (b) of this Section, (ii) by way of participation in accordance with the provisions of subsection (d) of this Section or (iii) by way of pledge or assignment of a security interest subject to the restrictions of
subsection (f) of this Section. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent
provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Agents, the Arrangers and the Lenders) any legal or equitable right, remedy or claim under or by reason of this
Agreement. 
 (b)    Assignments by Lenders. Any Lender may at any time sell, assign or transfer to one or more
Eligible Assignees, upon the giving of notice to the Borrower and the Administrative Agent, all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it or
other Obligations); provided that: 
 (i)    except (a) in the case of an assignment of the entire
remaining amount of the assigning Lender’s Commitment and the Loans at the time owing to it, which such amount is less than the applicable minimum transfer amount set forth below, or (b) in the case of an assignment to a Lender or an
Affiliate of a Lender or an Approved Fund with respect to a Lender, the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding

  
 134 

 
balance of the Loans of the assigning Lender subject to each such assignment, determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the
Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $1,000,000, unless each of the Administrative Agent and, so long as no Event of Default under Section
8.01(a), (f) or (g) has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed); provided that the Borrower shall be deemed to have consented to an
assignment unless it shall have objected thereto by written notice to the Administrative Agent within seven (7) Business Days after having received notice thereof; provided, however, that concurrent assignments to members of an
Assignee Group and concurrent assignments from members of an Assignee Group to a single Eligible Assignee (or to an Eligible Assignee and members of its Assignee Group) will be treated as a single assignment for purposes of determining whether such
minimum amount has been met; 
 (ii)    each partial assignment shall be made as an assignment of a proportionate part
of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loans or the Commitment assigned; 

(iii)    the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and
Assumption, together with a processing and recordation fee in the amount of $3,500 (provided however, that (i) the Administrative Agent may in its sole discretion, elect to waive such processing and recordation fee in the case of
any assignment and (ii) the Administrative Agent does hereby waive such processing and recordation fee in connection with an assignment by or to Goldman Sachs Bank USA or any Affiliate thereof or in the case of an assignee which is already a
Lender or is an affiliate or Approved Fund of a Lender or a Person under common management with a Lender) and the Eligible Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire and such
forms, certificate or other evidence, if any, as the assignee under such Assignment and Assumption may be required to deliver pursuant to Section 3.01; and 

(iv)    pro rata assignments shall not be required and each assignment shall be of a uniform, and not varying, percentage
of all rights and obligations under and in respect of any applicable Loan and related Commitments. 
 Subject to acceptance and recording thereof in the
Register by the Administrative Agent pursuant to subsection (c) of this Section, from and after the closing date specified in each Assignment and Assumption, the Eligible Assignee thereunder shall be a party to this Agreement and, to the extent
of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be
released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall
continue to be entitled to the benefits of Section 3.01 (subject to the requirements and limitations therein, including the requirements of Section 3.01(e)), 3.04, 3.05 and 10.04 with respect to
facts and circumstances occurring prior to the closing date of such assignment. Upon request, the Borrower (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations
under this 

  
 135 

 
Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with
subsection (d) of this Section. 
 In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment
shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the Assignment and Assumption shall make such additional payments to Administrative Agent in an aggregate amount sufficient, upon
distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations, or other compensating actions, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and
satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent and each other Lender hereunder (and interest accrued thereon), and (y) acquire (and fund as appropriate) its full Applicable Percentage of
all Loans. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable law without compliance with the provisions of this paragraph, then the
assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs. 
 Each Lender, upon
execution and delivery hereof or upon succeeding to an interest in the Commitments and Loans, as the case may be, represents and warrants as of the Closing Date or as of the effective date of such Assignment and Assumption that (i) it is an
Eligible Assignee; (ii) it has experience and expertise in the making of or investing in commitments or loans such as the applicable Commitments or Loans, as the case may be and (iii) it will make or invest in, as the case may be, its
Commitments or Loans for its own account in the ordinary course and without a view to distribution of such Commitments or Loans within the meaning of the Securities Act or the Exchange Act or other federal securities laws (it being understood that,
subject to the provisions of this Section 10.06, the disposition of such Commitments or Loans or any interests therein shall at all times remain within its exclusive control). 

(c)    Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall
maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts of (and stated
interest on) the Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Administrative Agent and the
Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. Any assignment of any Loan, whether or not
evidenced by a Note, shall be effective only upon appropriate entries with respect thereto being made in the Register (and each Note shall expressly so provide). The Register shall be available for inspection by the Borrower at any reasonable time
and from time to time upon reasonable prior notice. 
 (d)    Participations. Any Lender may at any time, without
the consent of, or notice to, the Borrower or the Administrative Agent, sell participations to any Person (other than a natural person or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a

  
 136 

 
“Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans owing to
it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and
(iii) the Borrower, the Administrative Agent and the Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. 

Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right
to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender, to the extent that it has a consent right hereunder,
will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in clauses (a), (b), (c), (g) and (h) of the first proviso to Section 10.01 that affects such Participant
(it being understood that a waiver of any Default or Event of Default or of a mandatory reduction in the Commitment shall not constitute a change in the terms of such participation, and that an increase in any Commitment or Loan shall be permitted
without the consent of any participant if the participant’s participation is not increased as a result thereof). Subject to subsection (e) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of
Section 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment, provided, that in the case of Section 3.01, such Participant
shall have complied with the requirements of such section (it being understood that the documentation required under Section 3.01(e) shall be delivered to the participating Lender). To the extent permitted by law, each Participant also shall be
entitled to the benefits of Section 10.08 as though it were a Lender; such Participant agrees to be subject to Section 2.13 as though it were a Lender. 

Each Lender that sells a participation, acting for this purpose as a non-fiduciary agent (solely for
tax purposes) of the Borrower, shall maintain a register for the recordation of the names and addresses of the Participants and principal amount of (and stated interest on) each Participant’s interest in the Loans or other obligations under
this Agreement (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating
to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that the relevant parties, acting reasonably and in good faith, determine that such
disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in
the Participant Register shall be conclusive absent manifest error, and such Lender and each Loan Party shall treat each Person whose name is recorded in the Participant Register pursuant to the terms hereof as the owner of such participation for
all purposes of this Agreement, notwithstanding notice to the contrary. 
 (e)    Limitation upon Participant
Rights. A Participant shall not be entitled to receive any greater payment under Section 3.01, 3.04 or 3.05 than the applicable Lender would have been entitled to receive with respect to the
participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written consent. No 

  
 137 

 
Participant shall be entitled to the benefits of Section 3.01 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees,
for the benefit of the Borrower, to comply with Section 3.01(e) as though it were a Lender. 
 (f)    Certain
Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Note(s), if any) to secure obligations of such Lender to secure obligations to a Federal
Reserve Bank or other central bank having jurisdiction over such Lender; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as
a party hereto; provided further, that in no event shall the applicable Federal Reserve Bank, pledgee or trustee, be considered to be a “Lender” or be entitled to require the assigning Lender to take or omit to take any action hereunder.

 (g)    Electronic Execution of Assignments. The words “execution,” “signed,”
“signature,” and words of like import in any Assignment and Assumption shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or
enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National
Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state Laws based on the Uniform Electronic Transactions Act. 

(h)    [Reserved]. 

(i)    Notwithstanding any other provision in the Loan Documents, any Lender may, at any time, assign all or a portion of
its rights and obligations with respect to Term Loans, Incremental Term Loans and Refinancing Term Loans under this Agreement to the Borrower through Dutch auctions in accordance with Section 2.19 and open market purchases
in accordance with Section 2.20. 
 10.07    Treatment of Certain Information;
Confidentiality. Each of the Agents, Arrangers and the Lenders agrees that it will treat as confidential (to the extent clearly identified at the time of delivery as confidential) all information provided to it hereunder or under any other Loan
Document by or on behalf of the Borrower or any of its Subsidiaries or Affiliates (collectively, “Information”) in accordance with the Agents’, Arrangers’ and the Lenders’ applicable customary procedures for handling
confidential information of such nature, except to the extent such Information (a) is publicly available or becomes publicly available other than by reason of disclosure by the Agents, Arrangers or the Lenders, any of their respective
affiliates or representatives in violation of this Agreement or the other Loan Documents, (b) was received by the Agents, Arrangers and the Lenders from a source (other than the Borrower or any of its affiliates, advisors, members, directors,
employees, agents or other representatives) not known by the Agents, Arrangers and the Lenders to be prohibited from disclosing such Information to such Person by a legal, contractual or fiduciary obligation to the Borrower and (c) was already
in the Agents’, Arrangers’ and the Lenders’ possession from a source other than the Borrower or any of its affiliates, advisors, members, directors, employees, agents or other representatives or is independently developed by such
Person without the use of or reference to any such Information; provided, however, that nothing herein will prevent the 

  
 138 

 
Agents, Arrangers and the Lenders from disclosing any such Information (including Information regarding Disqualified Institutions) (a) pursuant to the order of any court or administrative
agency or in any pending legal or administrative proceeding, or otherwise as required by applicable Law or compulsory legal process (in which case such Person agrees to inform the Borrower promptly thereof to the extent not prohibited by law), (b)
upon the request or demand of any regulatory authority or any self-regulatory authority having jurisdiction over such Person or any of its affiliates, (c) to such Person’s affiliates and their respective officers, directors, partners,
members, employees, legal counsel, independent auditors and other experts or agents who need to know such Information and on a confidential basis, (d) to potential and prospective Lenders, assignees, participants and any direct or indirect
contractual counterparties to any Hedging Agreement relating to the Borrower or its obligations under this Agreement (other than Disqualified Institutions), in each case, subject to such recipient’s agreement (which agreement may be in writing
or by “click through” agreement or other affirmative action on the part of the recipient to access such Information and acknowledge its confidentiality obligations in respect thereof pursuant to customary syndication practice) to keep such
Information confidential on substantially the terms set forth in this Section 10.07, (e) to ratings agencies who have agreed to keep such Information confidential on terms no less restrictive than this Section 10.07 in any material respect
or otherwise on terms acceptable to the Borrower in connection with obtaining ratings of the Term Loans, (f) for purposes of establishing a “due diligence” defense, (g) on a confidential basis, to the CUSIP Service Bureau or any
similar agency in connection with the issuance and monitoring of CUSIP numbers with respect to the Loans or (h) disclosures in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding
relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder. In addition, the Agents may disclose the existence of this Agreement and information about this Agreement to market data collectors, similar
service providers to the lending industry, and service providers to the Agents in connection with the administration and management of this Agreement and the other Loan Documents. 

Each of the Agents, the Arrangers and the Lenders acknowledges that (a) the Information may include material non-public information concerning the Borrower or a Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use of material non-public
information and (c) it will handle such material non-public information in accordance with applicable Laws, including Federal and state securities laws. 

10.08    Right of Setoff. In addition to any rights now or hereafter granted under applicable law and not by way of
limitation of any such rights, upon the occurrence of any Event of Default or at maturity each Lender is hereby authorized by each Loan Party at any time or from time to time subject to the consent of the Administrative Agent (such consent not to be
unreasonably withheld or delayed), without notice to any Loan Party or to any other Person (other than the Administrative Agent), any such notice being hereby expressly waived, to set off and to appropriate and to apply any and all deposits (general
or special, including Indebtedness evidenced by certificates of deposit, whether matured or unmatured, but not including trust accounts) and any other Indebtedness at any time held or owing by such Lender to or for the credit or the account of any
Loan Party against and on account of the obligations and liabilities of any Loan Party to such Lender hereunder, including all claims of any nature or description 

  
 139 

 
arising out of or connected hereto, irrespective of whether or not (a) such Lender shall have made any demand hereunder or (b) the principal of or the interest on the Loans or any other
amounts due hereunder shall have become due and payable pursuant to Article II and although such obligations and liabilities, or any of them, may be contingent or unmatured; provided that in the event that any Defaulting Lender shall exercise
any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of Sections 2.18 and 8.04 and, pending such payment, shall
be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement
describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender and their respective Affiliates under this Section 10.08 are in addition to other rights
and remedies (including other rights of setoff) that such Lender or their respective Affiliates may have. Each Lender agrees to notify the Borrower and the Administrative Agent promptly after any such setoff and application, provided that the
failure to give such notice shall not affect the validity of such setoff and application. 
 10.09    Usury Savings
Clause. Notwithstanding any other provision herein, the aggregate interest rate charged with respect to any of the Obligations, including all charges or fees in connection therewith deemed in the nature of interest under applicable law shall not
exceed the Highest Lawful Rate. If the rate of interest (determined without regard to the preceding sentence) under this Agreement at any time exceeds the Highest Lawful Rate, the outstanding amount of the Loans made hereunder shall bear interest at
the Highest Lawful Rate until the total amount of interest due hereunder equals the amount of interest which would have been due hereunder if the stated rates of interest set forth in this Agreement had at all times been in effect. In addition, if
when the Loans made hereunder are repaid in full the total interest due hereunder (taking into account the increase provided for above) is less than the total amount of interest which would have been due hereunder if the stated rates of interest set
forth in this Agreement had at all times been in effect, then to the extent permitted by law, the Borrower shall pay to the Administrative Agent an amount equal to the difference between the amount of interest paid and the amount of interest which
would have been paid if the Highest Lawful Rate had at all times been in effect. Notwithstanding the foregoing, it is the intention of Lenders and the Borrower to conform strictly to any applicable usury laws. Accordingly, if any Lender contracts
for, charges, or receives any consideration which constitutes interest in excess of the Highest Lawful Rate, then any such excess shall be cancelled automatically and, if previously paid, shall at such Lender’s option be applied to the
outstanding amount of the Loans made hereunder or be refunded to the Borrower. 
 10.10    Counterparts; Integration;
Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This
Agreement and the other Loan Documents constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof;
provided that the provisions contained in that certain Commitment Letter dated January 11, 2017, by and among Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A., Credit Suisse Securities (USA) LLC,

  
 140 

 
Credit Suisse AG, Cayman Islands Branch, Macquarie Capital (USA) Inc., Macquarie Capital Funding LLC and Peabody Energy Corporation which by their terms survive the execution and effectiveness of
this Agreement and the other Loan Documents shall survive and not be superseded by this Agreement and the other Loan Documents. Except as provided in Section 4.01, this Agreement shall become effective when it shall have
been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a
signature page of this Agreement by telecopy or other electronic imaging means (i.e., “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Agreement. 

10.11    Survival of Representations, Warranties and Agreements. All representations, warranties and agreements
made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof and the funding of any Borrowing. Such
representations, warranties and agreements have been or will be relied upon by the Administrative Agent and each Lender, regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the
Administrative Agent or any Lender may have had notice or knowledge of any Default at the time of any Borrowing, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied.
Notwithstanding anything herein or implied by law to the contrary, the agreements of each Loan Party set forth in Sections 3.01, 3.04, 3.05, 10.04(a), 10.04(b) and 10.08 and the agreements of Lenders set forth in Sections 2.13, 9.03 and 10.04(c)
shall survive the payment of the Loans and the termination hereof. 
 10.12    Severability. If any provision of
this Agreement or the other Loan Documents or any obligation hereunder or under any other Loan Document is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions or obligations of
this Agreement and the other Loan Documents shall not be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions or obligations with valid provisions
or obligations the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions or obligations. The invalidity of a provision or obligation in a particular jurisdiction shall not invalidate or
render unenforceable such provision or obligation in any other jurisdiction. 
 10.13    Replacement of Lenders.
If (a) any Lender requests compensation under Section 3.04, (b) the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to
Section 3.01, (c) any Lender is at such time a Defaulting Lender or has given notice pursuant to Section 3.02 or (d) any Lender becomes a “Nonconsenting Lender” (hereinafter
defined), then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to (and such Lender shall) assign and delegate, without recourse (in accordance with and subject to the
restrictions contained in, and consents required by, Section 10.06), all of its interest, rights and obligations under this Agreement and the related Loan Documents to an assignee selected by the Borrower that shall assume
such obligations (which assignee may be another Lender, if a Lender accepts such assignment), provided that: 

(a)    the Administrative Agent shall have received the assignment fee specified in Section 10.06(b)
(provided however, that the Administrative Agent may in its sole discretion elect to waive such processing and recordation fee in the case of any assignment); 

  
 141 

 (b)    such Lender shall have received payment of an amount equal to the
outstanding principal of its Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 3.05) from the assignee (to
the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts); 

(c)    in the case of any such assignment resulting from a claim for compensation under
Section 3.04 or payments required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter; 

(d)    such assignment does not conflict with applicable Laws, and 

(e)    neither the Administrative Agent nor any Lender shall be obligated to be or to find the assignee. 

A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or
otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. In the event that (x) the Borrower or the Administrative Agent has requested the Lenders to consent to a departure or waiver of any
provisions of the Loan Documents or to agree to any amendment thereto and (y) the Required Lenders or Required Facility Lenders, as applicable, have agreed to such consent, waiver or amendment, then any such Lender, who does not agree to such
consent, waiver or amendment and whose consent would otherwise be required for such departure, waiver or amendment, shall be deemed a “Nonconsenting Lender.” Any such replacement shall not be deemed a waiver of any rights that the
Borrower shall have against the replaced Lender. 
 Each Lender agrees that if the Borrower exercises its option hereunder to cause an
assignment by such Lender as a Nonconsenting Lender or otherwise pursuant to this Section 10.13, such Lender shall, promptly after receipt of written notice of such election, execute and deliver all documentation necessary to effectuate such
assignment in accordance with Section 10.06. In the event that a Lender does not comply with the requirements of the immediately preceding sentence within one Business Day after receipt of such notice, each Lender hereby authorizes and directs
the Administrative Agent to execute and deliver such documentation as may be required to give effect to an assignment in accordance with Section 10.06 on behalf of a Nonconsenting Lender or Lender replaced pursuant to this Section 10.13,
and any such documentation so executed by the Administrative Agent shall be effective for purposes of documenting an assignment pursuant to Section 10.06. 

10.14    Governing Law; Jurisdiction; Etc. 

(a)    GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER (INCLUDING, WITHOUT
LIMITATION, ANY CLAIMS SOUNDING IN CONTRACT LAW OR TORT LAW ARISING OUT OF THE 

  
 142 

 
SUBJECT MATTER HEREOF AND ANY DETERMINATIONS WITH RESPECT TO POST-JUDGMENT INTEREST) SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK. 

(b)    CONSENT TO JURISDICTION. SUBJECT TO CLAUSE (E) OF THE FOLLOWING SENTENCE, ALL JUDICIAL PROCEEDINGS
BROUGHT AGAINST ANY PARTY ARISING OUT OF OR RELATING HERETO OR ANY OTHER LOAN DOCUMENTS, OR ANY OF THE OBLIGATIONS, SHALL BE BROUGHT IN ANY FEDERAL COURT OF THE UNITED STATES OF AMERICA SITTING IN THE BOROUGH OF MANHATTAN OR, IF THAT COURT DOES NOT
HAVE SUBJECT MATTER JURISDICTION, IN ANY STATE COURT LOCATED IN THE CITY AND COUNTY OF NEW YORK. BY EXECUTING AND DELIVERING THIS AGREEMENT, EACH LOAN PARTY, FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES, IRREVOCABLY (A) ACCEPTS
GENERALLY AND UNCONDITIONALLY THE EXCLUSIVE (SUBJECT TO CLAUSE (E) BELOW) JURISDICTION AND VENUE OF SUCH COURTS; (B) WAIVES ANY DEFENSE OF FORUM NON CONVENIENS; (C) AGREES THAT SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH
COURT MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO THE APPLICABLE LOAN PARTY AT ITS ADDRESS PROVIDED IN ACCORDANCE WITH SECTION 10.02; (D) AGREES THAT SERVICE AS PROVIDED IN CLAUSE (C) ABOVE IS SUFFICIENT TO CONFER
PERSONAL JURISDICTION OVER THE APPLICABLE LOAN PARTY IN ANY SUCH PROCEEDING IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT; AND (E) AGREES THAT THE AGENTS, ARRANGERS, COLLATERAL TRUSTEE AND LENDERS
RETAIN THE RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO BRING PROCEEDINGS AGAINST ANY LOAN PARTY IN THE COURTS OF ANY OTHER JURISDICTION IN CONNECTION WITH THE EXERCISE OF ANY RIGHTS UNDER ANY LOAN DOCUMENT OR AGAINST ANY
COLLATERAL OR THE ENFORCEMENT OF ANY JUDGMENT, AND HEREBY SUBMITS TO THE JURISDICTION OF, AND CONSENTS TO VENUE IN, ANY SUCH COURT. 

10.15    Waiver of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING HEREUNDER OR UNDER ANY OF THE OTHER LOAN DOCUMENTS OR ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER OF THIS LOAN TRANSACTION OR
THE LENDER/BORROWER RELATIONSHIP THAT IS BEING ESTABLISHED. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING
CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY HERETO ACKNOWLEDGES THAT THIS 

  
 143 

 
WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THIS AGREEMENT, AND THAT EACH WILL CONTINUE TO RELY ON THIS
WAIVER IN ITS RELATED FUTURE DEALINGS. EACH PARTY HERETO FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL
COUNSEL. THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL WRITTEN WAIVER SPECIFICALLY REFERRING TO THIS SECTION 10.15 AND EXECUTED BY EACH OF THE PARTIES HERETO), AND THIS WAIVER
SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS HERETO OR ANY OF THE OTHER LOAN DOCUMENTS OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THE LOANS MADE HEREUNDER. IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY
BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. 
 10.16    USA PATRIOT Act Notice. Each Lender that is
subject to the Act (as hereinafter defined) and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies each Loan Party that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that identifies each Loan Party, which information includes the name and address
of such Loan Party and other information that will allow such Lender or the Administrative Agent, as applicable, to identify such Loan Party in accordance with the Act. 

10.17    Time of the Essence. Time is of the essence of the Loan Documents. 

[Reserved]. 

10.19    No Advisory or Fiduciary Responsibility. Each Loan Party agrees that nothing in the Loan Documents
or otherwise will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or other implied duty between any Agent, Arranger or Lender, on the one hand, and such Loan Party, its stockholders or its affiliates, on the other. In
connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower acknowledges and agrees, and acknowledges its
Affiliates’ understanding, that: (i) (A) the arranging and other services regarding this Agreement provided by the Agents and the Arrangers and the transactions contemplated by the Loan Documents (including the exercise of rights and
remedies hereunder and thereunder) are arm’s-length commercial transactions between the Borrower and their Affiliates, on the one hand, and the Agents and the Arrangers, on the other hand, (B) the
Borrower has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) the Borrower is capable of evaluating, and understands and accepts, the terms, risks and conditions of the
transactions contemplated hereby and by the other Loan Documents; (ii) (A) each Agent, each Arranger and each Lender is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been,
is not, and will not be acting as an advisor, agent or fiduciary for any Loan Party, its management, stockholders, creditors or any of its affiliates or any other 

  
 144 

 
Person with respect to the transactions contemplated hereby (or the exercise of rights or remedies with respect thereto) or the process leading thereto (irrespective of whether any Lender has
advised, is currently advising or will advise any Loan Party, its stockholders or its Affiliates on other matters) or any other obligation to any Loan Party except the obligations expressly set forth in the Loan Documents and (B) neither any of
the Agents nor any of the Arrangers nor any Lender has any obligation to the Borrower or any of its respective Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan
Documents; and (iii) the Agents and the Arrangers and the Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve interests that conflict with those of the Borrower and its respective Affiliates, and
neither any of the Agents nor any of the Arrangers has any obligation to disclose any of such interests to the Borrower or its respective Affiliates. Each Loan Party agrees that it will not claim that any Lender has rendered advisory services of any
nature or respect, or owes a fiduciary or similar duty to such Loan Party, in connection with such transaction or the process leading thereto. To the fullest extent permitted by law, the Borrower hereby waives and releases any claims that it may
have against the Agents and the Arrangers with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. 

10.20    [Reserved] 

10.21    Release of Liens and Release from Guaranty. 

(a)    The Collateral Trust Agreement shall govern the release of security interests in Collateral as security for the
Secured Obligations (A) after Payment in Full and the termination or expiration of all Secured Hedging Agreements (other than obligations and liabilities under Secured Hedging Agreements that have been cash collateralized or as to which other
arrangements reasonably satisfactory to the applicable counterparties shall have been made) and payment of any obligations due and owing under all Secured Hedging Agreements, (B) upon any sale or other transfer by any Loan Party of any
Collateral that is permitted under this Agreement (other than a sale or other transfer to a Loan Party) or upon effectiveness of any written direction by the consent to the release of the security interest created under any Security Document in any
Collateral pursuant to Section 10.01, (C) upon a designation of a Restricted Subsidiary as an Unrestricted Subsidiary permitted hereunder, with respect to the Collateral owned by such Unrestricted Subsidiary, (D) upon the approval,
authorization or ratification in writing by the Required Lenders (or such other percentage of the Lenders whose consent is required by Section 10.01) with respect to the release of such Collateral and (E) upon a Guarantor no longer being a
Guarantor by virtue of the definition thereof or a transaction permitted hereunder, with respect to the Collateral owned by such Guarantor. After either (v) Payment in Full and the termination or expiration of all Secured Hedging Agreements
(other than obligations and liabilities under Secured Hedging Agreements that have been cash collateralized or as to which other arrangements reasonably satisfactory to the applicable counterparties shall have been made) and payment of any
obligations due and owing under all Secured Hedging Agreements, (w) upon any sale or other transfer of a Loan Parry that is permitted under this Agreement (other than a sale or other transfer to a Loan Party), (x) upon a designation of a
Restricted Subsidiary as an Unrestricted Subsidiary permitted hereunder, (y) upon the approval, authorization or ratification in writing by the Required Lenders (or such other percentage of the Lenders whose consent is

  
 145 

 
required by Section 10.01) with respect to the release of any Guarantor under the terms of the Guaranty or (z) upon a Guarantor no longer being a Guarantor by virtue of the definition
thereof or a transaction permitted hereunder, each applicable Guarantor (or, in the case of clause (w) above, the applicable Guarantor so sold or transferred) shall automatically be released from the Guaranty, all without delivery of any
instrument or performance of any act by any Person; provided that any such release of guarantee obligations shall be deemed subject to the provision that such guarantee obligations shall be reinstated if after such release any portion of any payment
in respect of the Obligations guaranteed thereby shall be rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Borrower or any Guarantor, or upon or as a result of the
appointment of a receiver, intervenor or conservator of, or trustee or similar officer for, the Borrower or any Guarantor or any substantial part of its property, or otherwise, all as though such payment had not been made. 

(b)    Notwithstanding anything to the contrary contained herein or in any other Loan Document, in connection with any
termination or release pursuant to this Section 10.21, the Administrative Agent and/or Collateral Trustee shall be, and are hereby irrevocably authorized by each Lender (without requirement of notice to or consent of any Lender) to execute and
deliver, and shall promptly execute and deliver to the applicable Loan Party, at such Loan Party’s expense, all documents that such Loan Party shall reasonably request to evidence such termination or release (including (1) UCC termination
statements and (2) in the case of a release of Mortgages, a partial release) and return to the Borrower, the possessory Collateral that is in the possession of the Collateral Trustee and is the subject of such release. 

(c)    Any execution and delivery of documents, or the taking of any other action, by the Administrative Agent and/or
Collateral Trustee pursuant to this Section 10.21 shall be without recourse to or warranty by the Administrative Agent or Collateral Trustee. 

10.22    Independence of Covenants. All covenants hereunder shall be given independent effect so that if a
particular action or condition is not permitted by any of such covenants, the fact that it would be permitted by an exception to, or would otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an
Event of Default if such action is taken or condition exists. 
 10.23    Independent Nature of Lenders’
Rights. Nothing contained herein or in any other Loan Document, and no action taken by Lenders pursuant hereto or thereto, shall be deemed to constitute Lenders as a partnership, an association, a joint venture or any other kind of entity. The
amounts payable at any time hereunder to each Lender shall be a separate and independent debt, and each Lender shall be entitled to protect and enforce its rights arising out hereof and it shall not be necessary for any other Lender to be joined as
an additional party in any proceeding for such purpose. 
 10.24    Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto
acknowledges that any liability of any EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and 

  
 146 

 
conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

(a)    the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities
arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and 
 (b)    the
effects of any Bail-in Action on any such liability, including, if applicable: 

(i)     a reduction in full or in part or cancellation of any such liability; 

(ii)     a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA
Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any
such liability under this Agreement or any other Loan Document; or 
 (iii)    the variation of the terms of such
liability in connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority. 

10.25    Original Issue Discount. THE TERM LOANS MAY BE TREATED AS ISSUED WITH ORIGINAL ISSUE DISCOUNT FOR
UNITED STATES FEDERAL INCOME TAX PURPOSES. THE ISSUE PRICE, AMOUNT OF ORIGINAL ISSUE DISCOUNT, ISSUE DATE AND YIELD TO MATURITY OF THE LOANS MAY BE OBTAINED BY WRITING TO THE BORROWER AT ITS ADDRESS SPECIFIED HEREIN. 

[Signature pages follow] 

  
 147 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their
respective authorized officers as of the day and year first written above. 
  

			
	PEABODY ENERGY CORPORATION, as Borrower
		
	By:	 	 /s/ Walter L. Hawkins, Jr.

		 	Name: Walter L. Hawkins, Jr.
		 	Title: Senior Vice President, Finance

 [Signature Page to Credit Agreement] 

 
			
	 GOLDMAN SACHS BANK USA, as

Administrative Agent and a Lender

		
	By:	 	 /s/ Thomas M. Manning

		 	Name: Thomas M. Manning
		 	Title: Authorized Signatory

 [Signature Page to Credit Agreement]EX-10.4

 Exhibit 10.4 

EXECUTION VERSION 
 SIXTH
AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT 
 DATED AS OF APRIL 3, 2017 

BY AND AMONG 
 P&L
RECEIVABLES COMPANY, LLC, 
 as Seller, 

PEABODY ENERGY CORPORATION, 

as initial Servicer, 

PEABODY ARCLAR MINING, LLC, 

PEABODY MIDWEST MINING, LLC, 

TWENTYMILE COAL, LLC, 

PEABODY CABALLO MINING, LLC, 

COALSALES II, LLC, 

PEABODY WESTERN COAL COMPANY, 

PEABODY POWDER RIVER MINING, LLC, 

PEABODY HOLDING COMPANY, LLC, 

PEABODY BEAR RUN MINING, LLC, 

PEABODY WILD BOAR MINING, LLC, 

PEABODY GATEWAY NORTH MINING, LLC, 

PEABODY COALTRADE, LLC, 

PEABODY COALSALES, LLC, 

PEABODY COALSALES PACIFIC PTY LTD, 

PEABODY COPPABELLA PTY LTD, 

MILLENNIUM COAL PTY LTD, 

WAMBO COAL PTY LTD, 

WILPINJONG COAL PTY LTD and 

PEABODY (BOWEN) PTY LTD, 

as Sub-Servicers, 

THE VARIOUS CONDUIT PURCHASERS FROM TIME TO TIME PARTY HERETO, 

THE VARIOUS COMMITTED PURCHASERS FROM TIME TO TIME PARTY HERETO, 

THE VARIOUS PURCHASER AGENTS FROM TIME TO TIME PARTY HERETO, 

THE VARIOUS LC PARTICIPANTS FROM TIME TO TIME PARTY HERETO, 

and 
 PNC BANK, NATIONAL
ASSOCIATION, 
 as Administrator and as LC Bank 

							
	 ARTICLE I.
	 	AMOUNTS AND TERMS OF THE INVESTMENTS	  	 	2	 
			
	 Section 1.1
	 	 Investment Facility
	  	 	2	 
			
	 Section 1.2
	 	 Making Investments; Initial Investment; Joinders; Related Agreements
	  	 	4	 
			
	 Section 1.3
	 	 Transfer of Receivables and Other Purchased Assets
	  	 	5	 
			
	 Section 1.4
	 	 Terms and Conditions for Sale, Assignment and Transfer
	  	 	5	 
			
	 Section 1.5
	 	 Purchased Assets Coverage Percentage Computation
	  	 	9	 
			
	 Section 1.6
	 	 Settlement Procedures
	  	 	9	 
			
	 Section 1.7
	 	 Fees
	  	 	14	 
			
	 Section 1.8
	 	 Payments and Computations, Etc.
	  	 	14	 
			
	 Section 1.9
	 	 Increased Costs
	  	 	16	 
			
	 Section 1.10
	 	 Requirements of Law
	  	 	17	 
			
	 Section 1.11
	 	 Inability to Determine Euro-Rate
	  	 	18	 
			
	 Section 1.12
	 	 Extension of the Facility Termination Date
	  	 	18	 
			
	 Section 1.13
	 	 Letters of Credit
	  	 	19	 
			
	 Section 1.14
	 	 Issuance of Letters of Credit
	  	 	20	 
			
	 Section 1.15
	 	 Requirements For Issuance of Letters of Credit
	  	 	21	 
			
	 Section 1.16
	 	 Disbursements, Reimbursement
	  	 	21	 
			
	 Section 1.17
	 	 Repayment of Participation Advances
	  	 	22	 
			
	 Section 1.18
	 	 Documentation
	  	 	23	 
			
	 Section 1.19
	 	 Determination to Honor Drawing Request
	  	 	24	 
			
	 Section 1.20
	 	 Nature of Participation and Reimbursement Obligations
	  	 	24	 
			
	 Section 1.21
	 	 Indemnity
	  	 	26	 
			
	 Section 1.22
	 	 Liability for Acts and Omissions
	  	 	26	 
			
	 Section 1.23
	 	 LC Collateral Accounts
	  	 	28	 
			
	 ARTICLE II.
	 	 REPRESENTATIONS AND WARRANTIES; COVENANTS; TERMINATION EVENTS
	  	 	29	 
			
	 Section 2.1
	 	 Representations and Warranties; Covenants
	  	 	29	 
			
	 Section 2.2
	 	 Termination Events
	  	 	29	 
			
	 ARTICLE III.
	 	 INDEMNIFICATION
	  	 	29	 
			
	 Section 3.1
	 	 Indemnities by the Seller
	  	 	29	 
			
	 Section 3.2
	 	 Indemnities by the Servicer
	  	 	31	 

  
 -i- 

							
	 ARTICLE IV.
	 	 ADMINISTRATION AND COLLECTIONS
	  	 	31	 
			
	 Section 4.1
	 	 Appointment of the Servicer
	  	 	31	 
			
	 Section 4.2
	 	 Duties of the Servicer
	  	 	32	 
			
	 Section 4.3
	 	 Lock-Box Arrangements
	  	 	33	 
			
	 Section 4.4
	 	 Enforcement Rights
	  	 	34	 
			
	 Section 4.5
	 	 Responsibilities of the Seller
	  	 	36	 
			
	 Section 4.6
	 	 Servicing Fee
	  	 	36	 
			
	 Section 4.7
	 	 Agents
	  	 	36	 
			
	 ARTICLE V.
	 	 MISCELLANEOUS
	  	 	41	 
			
	 Section 5.1
	 	 Amendments, Etc.
	  	 	41	 
			
	 Section 5.2
	 	 Notices, Etc.
	  	 	43	 
			
	 Section 5.3
	 	 Successors and Assigns; Assignability; Participations
	  	 	43	 
			
	 Section 5.4
	 	 Costs, Expenses and Taxes
	  	 	46	 
			
	 Section 5.5
	 	 No Proceedings; Limitation on Payments
	  	 	50	 
			
	 Section 5.6
	 	 Confidentiality
	  	 	50	 
			
	 Section 5.7
	 	 GOVERNING LAW AND JURISDICTION
	  	 	51	 
			
	 Section 5.8
	 	 Execution in Counterparts
	  	 	52	 
			
	 Section 5.9
	 	 Survival of Termination; Non-Waiver
	  	 	52	 
			
	 Section 5.10
	 	 WAIVER OF JURY TRIAL
	  	 	52	 
			
	 Section 5.11
	 	 Entire Agreement
	  	 	52	 
			
	 Section 5.12
	 	 Headings
	  	 	52	 
			
	 Section 5.13
	 	 Sharing of Recoveries
	  	 	53	 
			
	 Section 5.14
	 	 Purchaser Groups’ Liabilities
	  	 	53	 
			
	 Section 5.15
	 	 Right of Setoff
	  	 	53	 
			
	 Section 5.16
	 	 USA Patriot Act
	  	 	53	 
			
	 Section 5.17
	 	 Severability
	  	 	54	 
			
	 Section 5.18
	 	 Mutual Negotiations
	  	 	54	 
			
	 Section 5.19
	 	 Currency
	  	 	54	 
			
	 Section 5.20
	 	 Currency Equivalence
	  	 	55	 
			
	 Section 5.21
	 	 Post-Closing Covenant
	  	 	55	 

  
 -ii- 

			
	 EXHIBIT I
	 	 DEFINITIONS

	 EXHIBIT II
	 	 CONDITIONS PRECEDENT

	 EXHIBIT III
	 	 REPRESENTATIONS AND WARRANTIES

	 EXHIBIT IV
	 	 COVENANTS

	 EXHIBIT V
	 	 TERMINATION EVENTS

		
	 SCHEDULE I
	 	 CREDIT AND COLLECTION POLICY

	 SCHEDULE II
	 	 LOCK-BOX BANKS AND
LOCK-BOX ACCOUNTS

	 SCHEDULE III
	 	 TRADE NAMES

	 SCHEDULE IV
	 	 OFFICE LOCATIONS

	 SCHEDULE V
	 	 GROUP COMMITMENTS

	 SCHEDULE VI
	 	 NOTICE ADDRESSES

	 SCHEDULE VII
	 	 SELLER ACCOUNT

	 SCHEDULE VIII
	 	 CLOSING MEMORANDUM

	 SCHEDULE IX
	 	 APPROVED CONTRACTS

	 SCHEDULE X
	 	 STANDARD AUSTRALIAN CONTRACTS

		
	 ANNEX A
	 	 FORM OF INFORMATION PACKAGE

	 ANNEX B
	 	 FORM OF INVESTMENT NOTICE

	 ANNEX C
	 	 FORM OF PAYDOWN NOTICE

	 ANNEX D
	 	 FORM OF COMPLIANCE CERTIFICATE

	 ANNEX E
	 	 FORM OF LETTER OF CREDIT APPLICATION

	 ANNEX F
	 	 FORM OF ASSUMPTION AGREEMENT

	 ANNEX G
	 	 FORM OF TRANSFER SUPPLEMENT

	 ANNEX H-1
	 	 FORM OF WEEKLY REPORT

	 ANNEX H-2
	 	 FORM OF DAILY REPORT

  
 -iii- 

 This SIXTH AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT (as amended, supplemented or
otherwise modified from time to time, this “Agreement”) is entered into as of April 3, 2017, by and among P&L RECEIVABLES COMPANY, LLC, a Delaware limited liability company, as seller (the “Seller”),
PEABODY ENERGY CORPORATION, a Delaware corporation (“Peabody”), as initial servicer (in such capacity, collectively, together with its successors and permitted assigns in such capacity, the “Servicer”), MILLENNIUM
COAL PTY LTD, a proprietary company organized under the laws of Australia, PEABODY COALSALES PACIFIC PTY LTD, a proprietary company organized under the laws of Australia, WILPINJONG COAL PTY LTD, a proprietary company organized under the laws of
Australia, PEABODY (BOWEN) PTY LTD, a proprietary company organized under the laws of Australia, PEABODY COPPABELLA PTY LTD, a proprietary company organized under the laws of Australia and WAMBO COAL PTY LTD, a proprietary company organized under
the laws of Australia (in its own right and not in any other capacity, each an “Australian Sub-Servicer”), PEABODY ARCLAR MINING, LLC, an Indiana limited liability company, PEABODY MIDWEST
MINING, LLC, an Indiana limited liability company, TWENTYMILE COAL, LLC, a Delaware limited liability company, PEABODY CABALLO MINING, LLC, a Delaware limited liability company, COALSALES II, LLC, a Delaware limited liability company, PEABODY
WESTERN COAL COMPANY, a Delaware corporation, PEABODY POWDER RIVER MINING, LLC, a Delaware limited liability company, PEABODY HOLDING COMPANY, LLC, a Delaware limited liability company, PEABODY COALTRADE, LLC, a Delaware limited liability company,
PEABODY COALSALES, LLC, a Delaware limited liability company, PEABODY GATEWAY NORTH MINING, LLC, a Delaware limited liability company, PEABODY WILD BOAR MINING, LLC, a Delaware limited liability company, PEABODY BEAR RUN MINING, LLC, a Delaware
limited liability company (each a “U.S. Sub-Servicer” and, together with each Australian Sub-Servicer, collectively the “Sub-Servicers”), the various CONDUIT PURCHASERS from time to time party hereto, the various COMMITTED PURCHASERS from time to time party hereto, the various LC PARTICIPANTS from time to time party hereto,
the various PURCHASER AGENTS from time to time party hereto, and PNC BANK, NATIONAL ASSOCIATION, a national banking association (“PNC”), as administrator (in such capacity, together with its successors and assigns in such capacity,
the “Administrator”) and as issuer of Letters of Credit (in such capacity, together with its successors and assigns in such capacity, the “LC Bank”). 

PRELIMINARY STATEMENTS. Certain terms that are capitalized and used throughout this Agreement are defined in
Exhibit I. References in the Exhibits hereto to the “Agreement” refer to this Agreement, as amended, supplemented or otherwise modified from time to time. 

The Seller desires to sell, transfer and assign receivables, and the Purchasers desire to acquire such receivables from time to time on the
terms and subject to the conditions set forth herein. 
 This Agreement amends and restates in its entirety, as of the Closing Date, the
Fifth Amended and Restated Receivables Purchase Agreement, dated as of March 25, 2016 (as amended, restated, supplemented or otherwise modified prior to the Closing Date, the “Original Agreement”), among the Seller, the
Servicer, the U.S. Sub-Servicers, the various Purchasers and Purchaser Agents party thereto and the Administrator. Notwithstanding the amendment and 

 
restatement of the Original Agreement by this Agreement, (i) the Seller and Servicer shall continue to be liable to the Administrator, the Purchasers and Purchaser Agents party to the
Original Agreement and any other Indemnified Party or Affected Person (as such terms are defined in the Original Agreement) for fees and expenses which are accrued and unpaid under the Original Agreement on the Closing Date (collectively, the
“Original Agreement Outstanding Amounts”) and all agreements to indemnify such parties in connection with events or conditions arising or existing prior to the effective date of this Agreement and (ii) the security interest
created under the Original Agreement shall remain in full force and effect as security for such Original Agreement Outstanding Amounts until such Original Agreement Outstanding Amounts shall have been paid in full. Upon the effectiveness of this
Agreement, each reference to the Original Agreement in any other document, instrument or agreement shall mean and be a reference to this Agreement. Nothing contained herein, unless expressly herein stated to the contrary, is intended to amend,
modify or otherwise affect any other instrument, document or agreement executed and/or delivered in connection with the Original Agreement. For the avoidance of doubt, all Capital, Discount, Letters of Credit, Fees and all other amounts outstanding
or owing by the Seller under the Original Agreement remain outstanding or owing by the Seller (or the Servicer or U.S. Sub-Servicers, as the case may be) hereunder. 

In consideration of the mutual agreements, provisions and covenants contained herein, the parties hereto agree as follows: 

ARTICLE I. 
 AMOUNTS AND
TERMS OF THE INVESTMENTS 
 Section 1.1 Investment Facility. 

 

	 	(a)	 On the terms and subject to the conditions hereof, the Seller may, from time to time before the Facility
Termination Date, (i) request that the Purchasers ratably make investments with regard to the Purchased Assets from time to time from the date hereof to the Facility Termination Date in accordance with Section 1.2.
Each investment requested by the Seller pursuant to Section 1.2(a) (each, an “Investment”) in the Purchased Assets shall be made ratably by the respective Purchaser Groups, and each Purchaser Group’s ratable share of
each Investment shall be made and funded (x) if such Purchaser Group contains a Conduit Purchaser and such Conduit Purchaser elects (in its sole discretion) to make and fund such portion of such Investment, by such Conduit Purchaser, or
(y) if such Purchaser Group does not contain a Conduit Purchaser or if the Conduit Purchaser in such Purchaser Group declines (in its sole discretion) to make or fund such portion of such Investment, by the Committed Purchaser in such Purchaser
Group and (ii) request that the LC Bank issue or cause to issue Letters of Credit. Subject to Section 1.6(b) concerning reinvestments, at no time will a Conduit Purchaser have any obligation to make an Investment. Each Committed
Purchaser severally hereby agrees, on the terms and subject to the conditions hereof, to make Investments from time to time from the Closing Date to the Facility Termination Date, based on the applicable Purchaser Group’s Percentage of each
Investment requested pursuant to Section 1.2(a) (and, in the case of each Committed 

  
 2 

	 	
Purchaser, its Commitment Percentage of its Purchaser Group’s Percentage of such Investment) and, on the terms of and subject to the conditions of this Agreement, the LC Bank agrees to issue
Letters of Credit in return for (and each LC Participant hereby severally agrees to make participation advances in connection with any draws under such Letters of Credit equal to such LC Participant’s Pro Rata Share of such draws), the
Purchased Assets from time to time from the Closing Date to the Facility Termination Date; provided, that under no circumstances shall any Purchaser make any Investment or issue any Letters of Credit hereunder, as applicable, if, after giving
effect to such Investment or issuance, the (i) Group Capital of such Purchaser’s Purchaser Group would exceed (A) its Purchaser Group’s Group Commitment (as the same may be reduced from time to time pursuant to Section
1.1(c)) minus (B) the related LC Participant’s Pro Rata Share of the Aggregate LC Participation Amount, (ii) the Aggregate Capital plus the Aggregate LC Participation Amount would exceed the Purchase Limit, (iii) the
Aggregate LC Participation Amount would exceed the aggregate of the Commitments of the LC Bank and the LC Participants or (iv) the Purchased Assets Coverage Percentage would exceed 100%. 

The Seller may, subject to the requirements and conditions set forth herein, use the proceeds of any Investment or Reinvestment by the
Purchasers hereunder, to satisfy its Reimbursement Obligation to the LC Bank and the LC Participants (ratably, based on the outstanding amounts funded by the LC Bank and each such LC Participant) pursuant to Section 1.16
below. 
  

	 	(b)	[Reserved]. 

  

	 	(c)	The Seller may, upon at least 30 days’ written notice to the Administrator, irrevocably reduce the unused portion of the Purchase Limit in whole or in part (but not below the amount that would cause the Aggregate
Capital plus the Aggregate LC Participation Amount to exceed the Purchase Limit or would cause the Group Capital of any Purchaser Group to exceed its Group Commitment, in each case, after giving effect to such reduction); provided, that each
partial reduction shall be in the amount of at least $5,000,000, or an integral multiple of $1,000,000 in excess thereof, and that, unless terminated in whole, the Purchase Limit shall in no event be reduced below $50,000,000. Each reduction in the
Commitments hereunder shall be made ratably among the Purchasers in accordance with their respective Purchaser Group’s Percentages and their respective Commitments. The Administrator shall promptly advise the Purchaser Agents of any notice
pursuant to this Section 1.1(c); it being understood that (in addition to and without limiting any other requirements for termination, prepayment and/or the funding of any LC Collateral Account hereunder) no such reduction shall be effective
unless and until (i) in the case of a reduction of the Purchase Limit in whole to zero ($0), the amount on deposit in each LC Collateral Account is at least equal to the then outstanding Aggregate LC Participation Amount and (ii) in the
case of a partial reduction, the amount on deposit in each LC Collateral Account is at least equal to the difference between the then outstanding Aggregate LC Participation Amount and the Purchase Limit as so reduced by such partial reduction.

  
 3 

 In connection with any reduction of the Purchase Limit to zero ($0) pursuant to this Section
1.1(c), the Seller may elect, upon ten (10) Business Days’ prior written notice to the Administrator, each Purchaser Agent and each Purchaser, to repurchase the Purchased Assets on the effective date of the termination of the Purchase
Limit designated pursuant to this Section 1.1(c) at a price equal to the outstanding Aggregate Capital plus the Aggregate LC Participation Amount plus all obligations and other amounts owing to the Administrator, each Purchaser Agent, each
Purchaser and the other Affected Persons as of the effective date of such repurchase. Upon the prepayment in whole of the outstanding Aggregate Capital and Aggregate LC Participation Amount in accordance with this Section, (i) all right, title
and interest of the Administrator, the Purchaser Agents, the Purchasers and the other Affected Persons in, to or under the Purchased Assets shall transfer to the Seller and its successors and assigns, (ii) the right, title and interest of the
Administrator, the Purchaser Agents, the Purchasers and the other Affected Persons in the Purchased Assets shall thereupon cease, terminate and become void, (iii) the obligations of the Administrator, the Purchaser Agents and the Purchasers to
pay the unpaid Deferred Purchase Price shall terminate and shall be deemed satisfied and discharged, in each case without any further action on the part of any Person, (iv) all obligations under the Transaction Documents shall terminate,
except those obligations expressly stated to survive termination and (v) each Purchaser’s Commitment shall be reduced to zero ($0). 

Section 1.2 Making Investments; Initial Investment; Joinders; Related Agreements. 

 

	 	(a)	Each request for any Investment hereunder may be made on any day upon the Seller’s irrevocable written notice in the form of Annex B (each, an “Investment Notice”) delivered to the
Administrator and each Purchaser Agent in accordance with Section 5.2 (which notice must be received by the Administrator and each Purchaser Agent before 11:00 a.m., New York City time) at least one Business Day before the
requested Investment Date, which notice shall specify: (A) the amount requested to be paid to the Seller (such amount, which shall not be less than $300,000 and shall be in integral multiples of $100,000), with respect to each Purchaser Group,
(B) the requested date of such Investment (which shall be a Business Day) and (C) the pro forma calculation of the Purchased Assets Coverage Percentage after giving effect to the increase in the Capital. 

 

	 	(b)	On the date of each Investment hereunder, each applicable Purchaser (determined in accordance with Section 1.1(a)) shall, upon satisfaction of the applicable conditions set forth in Exhibit II, make
available to the Seller in same day funds, at the account set forth on Schedule VII, an amount equal to the Capital of the Investment being funded by such Purchaser. 

  
 4 

 Section 1.3 Transfer of Receivables and Other Purchased Assets. 

 

	 	(a)	Sale of Receivables. In consideration of the payment by each applicable Purchaser of the amount of the applicable Purchaser Group’s share of the initial Investment on the date of the initial Investment
hereunder, the Committed Purchasers’ assumption of their respective Commitments and the Administrator’s agreement (on behalf of the applicable Purchasers) to make payments to the Seller from time to time in accordance with
Section 1.4 and for other good and valuable consideration, the receipt and sufficiency of which the Seller hereby acknowledges, effective on the Closing Date (without limiting any prior sales pursuant to Section
1.3(a) of the Original Agreement, which prior sales are hereby ratified and affirmed), the Seller hereby sells, conveys, transfers and assigns to the Administrator, on behalf of the Purchasers, all of Seller’s right, title and interest in
and to (i) all Pool Receivables existing on the Closing Date or thereafter arising or acquired by the Seller from time to time prior to the Facility Termination Date (including the Seller’s interest as a trust beneficiary in respect of any
Trust Receivables) and (ii) all Related Security, whether existing on the Closing Date or thereafter arising at any time and acquired by the Seller. 

  

	 	(b)	Purchase of Purchased Assets. Subject to the terms and conditions hereof, the Administrator (on behalf of the Purchasers) hereby purchases and accepts from the Seller the Seller’s interest in the Pool
Receivables and all other Related Security sold, assigned and transferred pursuant to Section 1.3(a) (collectively, the “Purchased Assets”). 

 

	 	(c)	Obligations Not Assumed. The foregoing sale, assignment and transfer does not constitute and is not intended to result in the creation, or an assumption by the Administrator, any Purchaser Agent or any Purchaser,
of any obligation of the Seller, any Originator or any other Person under or in connection with the Receivables or any other Related Security, all of which shall remain the obligations and liabilities of the Seller, the Originator and/or such other
Person, as applicable. 

 Section 1.4 Terms and Conditions for Sale, Assignment and Transfer. Subject to the terms
and conditions hereof, including Exhibit II, in consideration for the sale, assignment and transfer of the Purchased Assets by the Seller to the Administrator (on behalf of the Purchasers) hereunder: 

 

	 	(a)	Investments. From time to time prior to the Facility Termination Date, on request of the Seller for an Investment in accordance with Section 1.2(a), the applicable Purchasers in each Purchaser Group
(determined in accordance with Section 1.1(a)), in accordance with Section 1.2(b), shall pay to the Seller the applicable Purchaser Group’s Percentage of the amount requested by the Seller under Section 1.2(a).

  
 5 

	 	(b)	Reinvestments. On each Business Day prior to the Facility Termination Date, the Servicer, on behalf of the Administrator, shall pay to the Seller, out of Collections of the Pool Receivables, the amount available
for reinvestment in accordance with Section 1.6(b)(ii). Each such payment is herein referred to as a “Reinvestment” (and “Reinvest” shall have the correlative meaning). All Reinvestments with respect to the
applicable Purchasers shall be made ratably on behalf of the applicable Purchasers in the relevant Purchaser Group in accordance with the respective outstanding portions of the Aggregate Capital funded by them. 

 

	 	(c)	Deferred Purchase Price. The Servicer, on behalf of the Administrator and the Purchasers, shall pay to the Seller, from Collections, the amounts payable to the Seller from time to time pursuant to Section
1.6(b)(ii), Section 1.6(b)(iv) and clause sixth of Section 1.6(d)(ii) (such amounts, the “Deferred Purchase Price” with respect to the Purchased Assets) at the times specified in such Sections, which
remittances shall satisfy the obligation (up to the amount actually received by the Seller or Servicer) of the Administrator on behalf of the Purchasers to pay the Deferred Purchase Price with respect to the Purchased Assets to the Seller. The
parties hereto acknowledge and agree that the Administrator and the Purchasers shall have the right to, and intend to, set off (i) the Seller’s obligation to pay (or cause to be paid) to the Purchasers (or to the Administrator on their
behalf) all Collections on the portion of the Purchased Assets attributable to the Deferred Purchase Price against (ii) the Administrator’s and the Purchasers’ obligations to pay (or cause to be paid) to the Seller the Deferred
Purchase Price. 

  

	 	(d)	Seller Payments Limited to Collections. Notwithstanding any provision contained in this Agreement to the contrary, none of the Administrator, the Purchaser Agents or the Purchasers shall be obligated to pay any
amount to the Seller as the purchase price of the Purchased Assets pursuant to subsections (b) and (c) above except to the extent of Collections on Receivables available for distribution to the Seller in accordance with this
Agreement. Any amount that the Administrator, any Purchaser Agent or any Purchaser does not pay pursuant to the preceding sentence shall not constitute a claim (as defined in § 101 of the Bankruptcy Code) against or corporate obligation of such
Person for any such insufficiency unless and until such amount becomes available for distribution to the Seller in accordance with Section 1.6(d)(ii). 

  

	 	(e)	 Intent of the Parties. The Seller, the Administrator, the Purchaser Agents and the Purchasers intend that
the sale, assignment and transfer of Purchased Assets to the Administrator (on behalf of the Purchasers) shall be treated as a sale for all purposes (other than financial accounting purposes and for federal, state and local income and franchise tax
purposes as provided in the following paragraph of this clause (e)). If notwithstanding the intent of the parties, such sale, transfer and assignment is not treated as a sale for such purposes, such sale, assignment and transfer shall be
treated as the grant of, and the Seller does hereby grant to the Administrator (for the benefit of the Purchasers) a security interest in the following property to secure all of the Seller’s obligations (monetary or

  
 6 

	 	
otherwise) under this Agreement and the other Transaction Documents to which it is a party, whether now or hereafter existing or arising, due or to become due, direct or indirect, absolute or
contingent: all of the Seller’s right, title (if any) and interest in (including any beneficial interest in), to and under all of the following, whether now or hereafter owned, existing or arising: (i) all Pool Receivables, (ii) all
Related Security with respect to such Pool Receivables, (iii) all Collections with respect to such Pool Receivables, (iv) (A) the Lock-Box Accounts and all amounts on deposit therein, and all
certificates and instruments, if any, from time to time evidencing such Lock-Box Accounts and amounts on deposit therein and (B) each LC Collateral Account and all amounts on deposit therein, and all
certificates and instruments, if any, from time to time evidencing such LC Collateral Account and amounts on deposit therein, (v) all rights (but none of the obligations) of the Seller, including any security interests granted to it, under any
Sale Agreement and the Contribution Agreement, (vi) the Servicer Note and (vii) all proceeds of, and all amounts received or receivable under any or all of, the foregoing (collectively, the “Pool Assets”). The Seller
hereby authorizes the Administrator to file financing statements against it describing as the collateral covered thereby as “all assets of the debtor, whether now owned or hereafter created, acquired or arising, and all proceeds of the
foregoing” or words to that effect, notwithstanding that such wording may be broader in scope than the collateral described in this Agreement. The Administrator, for the benefit of the Purchasers, shall have, with respect to the Pool Assets,
and in addition to all the other rights and remedies available to the Administrator and the Purchasers, all the rights and remedies of a secured party under any applicable UCC or PPSA. The Seller hereby acknowledges and agrees that pursuant to the
Original Agreement, the Seller granted to the Administrator a security interest in all of the Seller’s right, title and interest in, to and under the Purchased Assets (as defined in the Original Agreement). The Seller hereby confirms such
security interest and acknowledges and agrees that such security interest is continuing and is supplemented and restated by the security interest granted by the Seller pursuant to this Section 1.4(e). 

Notwithstanding the foregoing paragraph of this clause (e), the Seller, the Administrator, the Purchaser Agents, the Purchasers and all
other parties to this Agreement intend and agree to treat, for U.S. federal, state and local income and franchise tax (in the nature of income tax) purposes only, the sale, assignment and transfer of the Purchased Assets to the Administrator (on
behalf of the Purchasers) as a loan to the Seller secured by the Pool Assets. The provisions of this Agreement and all related Transaction Documents shall be construed to further these intentions of the parties. 

 

	 	(f)	[Reserved]. 

  

	 	(g)	 Additional Purchasers or Purchaser Groups. The Seller may, with the written consent of the Administrator
(and, in the case of a new LC Participant, the LC Bank), which consent may be granted or withheld in their sole discretion, add additional Persons as Purchasers (either to an existing Purchaser Group or by

  
 7 

	 	
creating new Purchaser Groups) or cause an existing Committed Purchaser or related LC Participant to increase its Commitment in connection with a corresponding increase in the Purchase Limit;
provided, that the Commitment of any Committed Purchaser or related LC Participant may only be increased with the prior written consent of such Committed Purchaser or related LC Participant. Each new Conduit Purchaser, Committed Purchaser or
related LC Participant (or Purchaser Group) shall become a party hereto, by executing and delivering to the Administrator, each Purchaser Agent and the Seller, an Assumption Agreement in the form of Annex F hereto (which Assumption Agreement
shall, in the case of any new Conduit Purchaser, Committed Purchaser or LC Participant, be executed by each Person in such new Purchaser’s Purchaser Group). 

  

	 	(h)	Nature of Obligations; Defaulting Purchasers. Each Committed Purchaser’s and related LC Participant’s obligations hereunder shall be several, such that the failure of any Committed Purchaser or related
LC Participant to make a payment in connection with any Investment or drawing under a Letter of Credit hereunder, as the case may be, shall not relieve any other Committed Purchaser or related LC Participant of its obligation hereunder to make
payment for any such Investment or drawing. Further, in the event any Committed Purchaser or related LC Participant fails to satisfy its obligation to make an Investment or payment with respect to such drawing as required hereunder, upon receipt of
notice of such failure from the Administrator (or any relevant Purchaser Agent), subject to the limitations set forth herein, the non-defaulting Committed Purchasers or related LC Participants in such
defaulting Committed Purchaser’s or related LC Participant’s Purchaser Group shall fund the defaulting Committed Purchaser’s or related LC Participant’s Commitment Percentage of the related Investment or drawing pro
rata in proportion to their relative Commitment Percentages (determined without regard to the Commitment Percentage of the defaulting Committed Purchaser or related LC Participant; it being understood that a defaulting
Committed Purchaser’s or related LC Participant’s Commitment Percentage of any such Investment or drawing shall be first funded by the Committed Purchasers or related LC Participants in such defaulting Committed Purchaser’s or related
LC Participant’s Purchaser Group and thereafter if there are no other Committed Purchasers or related LC Participants in such Purchaser Group or if such other Committed Purchasers or related LC Participants are also defaulting Committed
Purchasers or related LC Participants, then such defaulting Committed Purchaser’s or related LC Participant’s Commitment Percentage of such Investment or drawing shall be funded by each other Purchaser Group ratably and applied in
accordance with this Section 1.4(h)). Notwithstanding the foregoing and for the avoidance of doubt, each Committed Purchaser’s and LC Participant’s obligation to fund any such Investment or drawing pursuant to this Section
1.4(h) shall be subject in all respects to the limitations set forth in the proviso to Section 1.1(a). 

  
 8 

 Section 1.5 Purchased Assets Coverage Percentage Computation. 

The Purchased Assets Coverage Percentage shall be initially computed under this Agreement on the Closing Date. Thereafter, until the Facility
Termination Date, such Purchased Assets Coverage Percentage shall be automatically recomputed (or deemed to be recomputed) on each Business Day other than a Termination Day. From and after the occurrence of any Termination Day, the Purchased Assets
Coverage Percentage shall (until the event(s) giving rise to such Termination Day are satisfied or are waived in accordance with Section 5.1) be deemed to be 100%. The Purchased Assets Coverage Percentage shall become zero
when the Final Payout Date has occurred and the Servicer shall have received the accrued Servicing Fee thereon. 
 Section 1.6
Settlement Procedures. 
  

	 	(a)	The collection of the Pool Receivables shall be administered by the Servicer in accordance with this Agreement. The Seller shall provide to the Servicer on a timely basis all information needed for such administration,
including notice of the occurrence of any Termination Day and current computations of the Purchased Assets Coverage Percentage. 

  

	 	(b)	The Servicer shall, on each day on which Collections of Pool Receivables are received (or deemed received) by the Seller or the Servicer, including pursuant to Section 1.6(g): 

(i)    set aside and hold in trust (and shall, at the request of the Administrator, segregate in a separate
account approved by the Administrator) for the benefit of the Purchasers, out of such Collections, first, an amount equal to the Aggregate Discount accrued through such day for each Portion of Capital and not previously set aside,
second, an amount equal to the Fees accrued and unpaid through such day, and third, to the extent funds are available therefor, an amount equal to the Servicing Fee accrued through such day and not previously set aside, 

(ii)    subject to Section 1.6(f), if such day is not a Termination Day, remit to
the Seller the remainder of such Collections. Such remainder shall, (x) to the extent representing a return of the Aggregate Capital, be automatically reinvested (ratably among the Purchasers according to each Purchaser’s Capital) in Pool
Receivables, and in the Related Security, Collections and other proceeds with respect thereto and (y) to the extent not representing a return of the Aggregate Capital, be paid to the Seller in respect of the Deferred Purchase Price for the
Purchased Assets; provided, however, that if the Purchased Assets Coverage Percentage would exceed 100%, then the Servicer shall not reinvest or remit to the Seller, but shall set aside and hold in trust for the benefit of the
Purchasers (and shall, at the request of the Administrator, segregate in a separate account approved by the Administrator) a portion of such Collections that, together with the other Collections set aside pursuant to this paragraph, shall equal the
amount necessary to reduce the Purchased Assets Coverage Percentage to 100% (determined as if such Collections set aside had been applied to reduce the Aggregate Capital or Aggregate 

  
 9 

 
Adjusted LC Participation Amount, as applicable, at such time), which amount shall either (A) be deposited ratably to the Administration Account (for the benefit of the Purchasers) or
(B) be deposited in an LC Collateral Account, in each case, as applicable, on the next Settlement Date in accordance with Section 1.6(c); provided, further, that (x) in the case of any Purchaser that
is a Conduit Purchaser, if such Purchaser has provided notice (a “Declining Notice”) to its Purchaser Agent, the Administrator, and the Servicer that such Purchaser (a “Declining Conduit Purchaser”) no longer wishes
Collections with respect to any Portion of Capital funded or maintained by such Purchaser to be reinvested pursuant to this clause (ii), and (y) in the case of any Purchaser that has provided notice (an “Exiting Notice”)
to its Purchaser Agent of its refusal, pursuant to Section 1.12, to extend its Commitment hereunder (an “Exiting Purchaser”) then in either case (x) or (y), above, such Purchaser’s ratable share
(determined according to outstanding Capital) of such remaining Collections shall not be reinvested or remitted to the Seller and shall instead be held in trust for the benefit of such Purchaser and applied in accordance with clause
(iii) below (it being understood and agreed that the foregoing clause (x) shall not limit any obligation of a Committed Purchase in a Declining Conduit Purchaser’s Purchaser Group to make purchases and reinvestments
hereunder), 
 (iii)    if such day is a Termination Day (or any day following the provision of a
Declining Notice or an Exiting Notice), set aside, segregate and hold in trust (and shall, at the request of the Administrator, segregate in a separate account approved by the Administrator) for the benefit of the Purchasers the entire remainder of
such Collections (or in the case of a Declining Conduit Purchaser or an Exiting Purchaser an amount equal to such Purchaser’s ratable share (determined according to outstanding Capital) of such Collections; provided, that solely for the
purpose of determining such Purchaser’s ratable share of such Collections, such Purchaser’s Capital shall be deemed to remain constant from the date of the provision of a Declining Notice or an Exiting Notice, as the case may be, until the
date such Purchaser’s Capital has been paid in full; it being understood that if such day is also a Termination Day, such Declining Conduit Purchaser’s or Exiting Purchaser’s Capital shall be recalculated taking
into account amounts received by such Purchaser in respect of this parenthetical and thereafter Collections shall be set aside for such Purchaser ratably in respect of its Capital (as recalculated)); provided, further, that if amounts
are set aside and held in trust on any Termination Day of the type described in clause (a) of the definition of “Termination Day” (or any day following the provision of a Declining Notice or an Exiting Notice) and, thereafter,
the conditions set forth in Section 2 of Exhibit II are satisfied or waived by the Administrator and the Majority Purchaser Agents (or in the case of a Declining Notice or an Exiting Notice, such Declining Notice or
Exiting Notice, as the case may be, has been revoked by the related Declining Conduit Purchaser or Exiting Purchaser, respectively and written notice thereof has been provided to the Administrator, the related Purchaser Agent and the Servicer), such
previously set-aside amounts shall, to the extent representing a return of Aggregate Capital (or the Capital of the Declining Conduit Purchaser or Exiting Purchaser, as the case may be) and ratably (determined
according to outstanding Capital), be reinvested and/or paid to the Seller in respect of the Deferred Purchase Price for the Purchased Assets in accordance with clause (ii) above on the day of such subsequent satisfaction or waiver of
conditions or revocation of Declining Notice or Exiting Notice, as the case may be, and 

  
 10 

 (iv)    subject to Section 1.6(f),
pay to the Seller (on behalf of the Administrator and the Purchasers) for the Seller’s own account and in payment of the Deferred Purchase Price for the Purchased Assets any Collections in excess of: (x) amounts required to be reinvested
in accordance with clause (ii) above or the last proviso to clause (iii) above, plus (y) the amounts that are required to be set aside pursuant to clause (i) above, the provisos to
clause (ii) and clause (iii) above, plus (z) all reasonable and appropriate out-of-pocket costs and expenses of the Servicer for
servicing, collecting and administering the Pool Receivables. 
  

	 	(c)	The Servicer shall, in accordance with the priorities set forth in Section 1.6(d), deposit into the Administration Account (or such other account designated by the Administrator), on each Settlement Date (or,
solely with respect to Collections held for the Purchasers pursuant to Section 1.6(f)(iii), such other date approved by the Administrator with at least five (5) Business Days prior written notice to the Administrator of such payment),
Collections held for the Purchasers pursuant to Section 1.6(b)(i), (ii) or (iii) or 1.6(f); provided, that if Peabody or an Affiliate thereof is the Servicer, such day is not a Termination Day and the
Administrator has not notified Peabody (or such Affiliate) that the right to retain the portion of Collections set aside pursuant to Section 1.6(b)(i) that represents the Servicing Fee is revoked, Peabody (or such Affiliate) may retain the
portion of the Collections set aside pursuant to Section 1.6(b)(i) that represents the Servicing Fee in payment in full of the accrued Servicing Fees so set aside. On the last day of each Settlement Period, each Purchaser (or its Purchaser
Agent on its behalf) will notify the Servicer by electronic mail of the amount of Discount accrued with respect to each Portion of Capital during such Settlement Period or portion thereof. 

 

	 	(d)	Upon receipt of funds deposited into the Administration Account pursuant to clause (c) above, the Administrator shall cause such funds to be distributed as follows: 

(i)    if such distribution occurs on a day that is not a Termination Day and the Purchased Assets Coverage
Percentage does not exceed 100%, first to the Purchaser Agents (for the benefit of the Purchasers in their respective Purchaser Groups) in payment in full of all accrued Discount and Fees, and second, if the Servicer has set aside
amounts in respect of the Servicing Fee pursuant to clause (b)(i) above and has not retained such amounts pursuant to clause (c) above, to the Servicer (payable in arrears on each Settlement Date) in payment in full of the accrued
Servicing Fees so set aside, and 
 (ii)    if such distribution occurs on a Termination Day or on a day
when the Purchased Assets Coverage Percentage exceeds 100%, first to the Purchaser Agents (for the benefit of the Purchasers in their respective Purchaser Groups) in payment in full of all accrued Discount and Fees, second to the
Purchaser Agents (for the benefit of the 

  
 11 

 
Purchasers in their respective Purchaser Groups) in payment in full of Capital (or, if such day is not a Termination Day, the amount necessary to reduce the Purchased Assets Coverage Percentage
to 100%) (determined as if such Collections had been applied to reduce the aggregate outstanding Capital), third, to the LC Collateral Accounts for the benefit of the LC Bank and the LC Participants, (x) the amount (if any) necessary to
cause the amount of cash collateral held in the LC Collateral Accounts (other than amounts representing LC Fee Expectation) to equal the aggregate outstanding amount of the Aggregate LC Participation Amount (or, if such day is not a Termination Day,
the amount necessary to reduce the Purchased Assets Coverage Percentage to 100%) (determined as if such Collections had been applied to reduce the aggregate outstanding amount of the Aggregate LC Participation Amount) and (y) if such day is a
Termination Day or a Termination Event is continuing, an amount equal to the LC Fee Expectation at such time (or such portion thereof not currently on deposit in the LC Collateral Accounts), fourth, to the Servicer in payment in full of all
accrued Servicing Fees, fifth, if all amounts owing under clauses first through fourth above have been paid in full, to the Purchaser Agents (for the benefit of such Purchaser Agent and the Purchasers in their respective
Purchaser Groups), the Administrator and any other Indemnified Party or Affected Person in payment in full of any other amounts owed thereto by the Seller hereunder, and sixth, after the occurrence of the Final Payout Date, all additional
Collections with respect to the Purchased Assets shall be paid to the Seller for its own account in payment of the Deferred Purchase Price for such Purchased Assets. 
  

	 	(e)	For the purposes of this Section 1.6: 

(i)    if on any day the Outstanding Balance of any Pool Receivable is reduced or adjusted as a result of
any defective, rejected, returned, repossessed or foreclosed goods or services, or any revision, cancellation, allowance, rebate, discount or other adjustment made by the Seller or any Affiliate of the Seller, or any setoff or dispute between the
Seller or any Affiliate of the Seller and an Obligor, the Seller shall be deemed to have received on such day a Collection of such Pool Receivable in the amount of such reduction or adjustment; 

(ii)    if on any day any of the representations or warranties in Section l(g) or
(m) of Exhibit III is not true with respect to any Pool Receivable, the Seller shall be deemed to have received on such day a Collection of such Pool Receivable in full and upon receipt of cash payments in full
of the amounts specified in this clause (ii) in a Lock-Box Account, all right, title and interest of the Administrator, any Purchaser Agent or any Purchaser to the relevant Pool Receivable and
Related Security shall pass to the Seller (or, to the extent such interest of the Administrator, any Purchaser Agent or any Purchaser is a beneficial interest in the relevant Pool Receivable and Related Security, shall be extinguished); provided,
that any such reconveyance or release shall be without representation or warranty, but free and clear of all liens, security interests, charges, and encumbrances created by the Administrator, any Purchaser Agent or any Purchaser; 

  
 12 

 (iii)    except as provided in clause (i) or
(ii) above, or as otherwise required by Applicable Law or the relevant Contract, all Collections received from an Obligor (or Eligible Supporting Letter of Credit Provider) of any Receivable shall be applied to the Receivables of such Obligor
in the order of the age of such Receivables, starting with the oldest such Receivable, unless such Obligor designates in writing its payment for application to specific Receivables; and 

(iv)    if and to the extent the Administrator, any Purchaser Agent or any Purchaser shall be required for
any reason to pay over to an Obligor (or any trustee, receiver, custodian or similar official in any Insolvency Proceeding) any amount received by it hereunder, such amount shall be deemed not to have been so received by the Administrator, such
Purchaser Agent or such Purchaser but rather to have been retained by the Seller and, accordingly, the Administrator, such Purchaser Agent or such Purchaser, as the case may be, shall have a claim against the Seller for such amount, payable when and
to the extent that any distribution from or on behalf of such Obligor is made in respect thereof. 
  

	 	(f)	If at any time the Seller shall wish to cause the reduction of Aggregate Capital (but not to commence the liquidation, or reduction to zero, of the entire Aggregate Capital), the Seller may do so as follows:

 (i)    the Seller shall give the Administrator, each Purchaser Agent and the Servicer
written notice in the form of Annex C (the “Paydown Notice”) at least two Business Days prior to the date of such reduction for any reduction of Aggregate Capital and such notice shall include the amount of such reduction and
the proposed date on which such reduction shall commence; 
 (ii)    on the proposed date of the
commencement of such reduction and on each day thereafter, the Servicer shall cause Collections not to be reinvested until the amount thereof not so reinvested shall equal the desired amount of reduction; and 

(iii)    the Servicer shall hold such Collections in trust for the benefit of the Administrator (for the
benefit of each Purchaser), for payment to the Administrator by deposit into the Administration Account on the next Settlement Date immediately following the current Settlement Period or such other date approved by the Administrator and the Majority
Purchaser Agents, and Capital shall be deemed reduced in the amount to be paid to the Administrator only when in fact finally so paid; 
 provided,
that the amount of any such reduction shall be not less than $300,000 and shall be an integral multiple of $100,000. Upon receipt by the Administrator in the Administration Account of any amount paid in reduction of the Aggregate Capital pursuant to
sub-clause (iii) above, the Administrator shall cause such funds to be distributed to the Purchaser Agents (for the benefit of the Purchasers in their respective Purchaser Groups) in payment of
each Purchaser’s outstanding Capital. 

  
 13 

 (g)    In accordance with Section 2(l)(iv) of Exhibit IV, the
Servicer will deliver an Interim Report to the Administrator once per week, provided, that following the occurrence of a Minimum Cash Liquidity Event or the occurrence and continuance of a Termination Event or Unmatured Termination Event, the
Servicer will, at the request of the Administrator, deliver an Interim Report to the Administrator on each Business Day. Upon receipt of such Interim Report, the Administrator shall promptly review such Interim Report to determine if such Interim
Report constitutes a Qualifying Interim Report. In the event that the Administrator reasonably determines that such Interim Report constitutes a Qualifying Interim Report, so long as no Termination Event or Unmatured Termination Event has occurred
and is continuing and so long as the Facility Termination Date has not yet occurred and the Administrator is then exercising exclusive dominion and control over the Lock-Box Accounts in accordance with
Section 4.3, the Administrator shall promptly remit to the Servicer from the Lock-Box Account (or the LC Collateral Accounts, if applicable) the lesser of (i) the amount identified on such Qualifying
Interim Report as Collections on deposit in the Lock-Box Account and/or LC Collateral Accounts in excess of the amount necessary to ensure that the Purchased Assets Coverage Percentage does not exceed 100% and
(ii) the aggregate amount of available Collections then on deposit in the Lock-Box Accounts and the LC Collateral Accounts. For purposes of this clause (g), “Qualifying Interim
Report” shall mean any Interim Report that satisfies each of the following conditions: (A) the Purchased Assets Coverage Percentage as set forth in such Interim Report shall not exceed 100%; (B) such Interim Report is calculated, in
the case of a Weekly Report, as of the last Business Day of the immediately preceding week, and, in the case of a Daily Report, as of the immediately prior Business Day and (C) all of the information and calculations set forth in such Interim
Report are true and correct. For the avoidance of doubt, the Administrator shall have no obligation to remit funds to the Seller or the Servicer or any Affiliate thereof from the Lock-Box Account (or the LC
Collateral Accounts, if applicable) unless the Administrator shall have received a Qualifying Interim Report. 
 Section 1.7
Fees. 
 The Seller shall pay to the Administrator, the Purchasers and the Purchaser Agents the fees in the amounts and on the dates
set forth in those certain fee letter agreements for each Purchaser Group, in each case, from time to time entered into among Peabody, the Seller and the applicable Purchaser Agent and/or the Administrator (as such letter agreements may be amended,
supplemented or otherwise modified from time to time, the “Fee Letters”). 
 Section 1.8 Payments and Computations,
Etc. 
  

	 	(a)	 All amounts to be paid or deposited by the Seller or the Servicer hereunder shall be made without reduction for
offset or counterclaim and shall be paid or deposited no later than noon (New York City time) on the day when due in same day funds to the Administration Account. All amounts received after noon (New York City time) will be deemed to have
been received on the next Business Day. Amounts payable hereunder to or for the benefit of the Administrator, the 

  
 14 

	 	
Purchasers or the Purchaser Agents (or their related Affected Persons or Indemnified Parties) shall be distributed as follows: 

(i)    Any amounts to be distributed by or on behalf of the Administrator hereunder to any Purchaser Agent,
Purchaser or Purchaser Group shall be distributed to the account specified in writing from time to time by the applicable Purchaser Agent to the Administrator, and the Administrator shall have no obligation to distribute any such amounts unless and
until it actually receives payment of such amounts by the Seller or the Servicer, as applicable, in the Administration Account. Except as expressly set forth herein (including, without limitation, as set forth in Section 1.6(b)(iii) with
respect to Collections held in trust for Declining Conduit Purchasers and Exiting Purchasers), the Administrator shall distribute (or cause to be distributed) such amounts to the Purchaser Agents for the Purchasers within their respective Purchaser
Groups ratably (x) in the case of such amounts paid in respect of Discount and Fees, according to the Discount and Fees payable to the Purchasers and (y) in the case of such amounts paid in respect of Capital (or in respect of any other
obligations other than Discount and Fees), according to the outstanding Capital funded by the Purchasers. 

(ii)    Except as expressly set forth herein (including, without limitation, as set forth in Section
1.6(b)(iii) with respect to Collections held in trust for Declining Conduit Purchasers and Exiting Purchasers), each Purchaser Agent shall distribute the amounts paid to it hereunder for the benefit of the Purchasers in its Purchaser Group to
the Purchasers within its Purchaser Group ratably (x) in the case of such amounts paid in respect of Discount and Fees, according to the Discount and Fees payable to such Purchasers and (y) in the case of such amounts paid in respect of
Capital (or in respect of any other obligations other than Discount and Fees), according to the outstanding Capital funded by such Purchasers. 
  

	 	(b)	The Seller or the Servicer, as the case may be, shall, to the extent permitted by law, pay to a Lock-Box Account interest on any amount not paid or deposited by the Seller or the
Servicer, as the case may be, when due hereunder, at an interest rate equal to 2.0% per annum above the Base Rate, payable on demand. 

  

	 	(c)	All computations of interest under clause (b) above and all computations of Discount, fees and other amounts hereunder shall be made on the basis of a year of 360 (or 365 or 366, as applicable, with respect
to Discount or other amounts calculated by reference to the Base Rate) days for the actual number of days elapsed. Whenever any payment or deposit to be made hereunder shall be due on a day other than a Business Day, such payment or deposit shall be
made on the next Business Day and such extension of time shall be included in the computation of such payment or deposit. 

  

	 	(d)	On any day when any computation or calculation hereunder requires the aggregation of amounts denominated in more than one currency, all amounts that are denominated in Australian Dollars shall be deemed to be the
U.S. Dollar Equivalent thereof on such day for purposes of such computation or calculation. 

  
 15 

 Section 1.9 Increased Costs. 

 

	 	(a)	If after the Closing Date the Administrator, the LC Bank, any Purchaser Agent, any Purchaser, any Liquidity Bank, any other Program Support Provider or any of their respective Affiliates (each an “Affected
Person”) reasonably determines that any Change in Law affects or would affect the amount of capital required or expected to be maintained by such Affected Person, and such Affected Person determines that the amount of such capital is
increased by or based upon the existence of any commitment to make Investments in (or otherwise to maintain the Investments in) Pool Receivables or issue any Letter of Credit related to this Agreement or any related liquidity facility, credit
enhancement facility and other commitments of the same type, then, upon demand by such Affected Person or its related Purchaser Agent (with a copy to the Administrator), the Seller shall promptly pay to the Administrator, for the account of such
Affected Person, from time to time as specified by such Affected Person or its related Purchaser Agent, additional amounts sufficient to compensate such Affected Person in the light of such circumstances, to the extent that such Affected Person
reasonably determines such increase in capital to be allocable to the existence of any of such commitments. 

  

	 	(b)	If due to any Change in Law there shall be any increase after the Closing Date in the cost to any Affected Person of agreeing to purchase or purchasing, or maintaining the ownership of, the Purchased Assets (or its
portion thereof and including, without limitation, funding or maintaining its Capital), then, upon demand by such Affected Person, the Seller shall promptly pay to such Affected Person, from time to time as specified by such Affected Person,
additional amounts sufficient to compensate such Affected Person for such increased costs. 

  

	 	(c)	If such increased costs affect the related Affected Person’s portfolio of financing transactions, such Affected Person shall use reasonable averaging and attribution methods to allocate such increased costs to the
transactions contemplated by this Agreement. 

  

	 	(d)	A certificate of an Affected Person (or its related Purchaser Agent) setting forth the amount or amounts necessary to compensate such Affected Person as specified in clause (a) or (b) of this
Section and delivered to the Seller and the Administrator, shall be conclusive absent manifest error. The Seller shall pay such Affected Person’s related Purchaser Agent (for the account of such Affected Person) the amount shown as due on the
first Settlement Date occurring after the Seller’s receipt of such certificate. 

  

	 	(e)	 Failure or delay on the part of any Affected Person to demand compensation pursuant to this
Section 1.9 shall not constitute a waiver of such Affected Person’s right to demand such compensation; provided that the Seller shall not be required to compensate an Affected Person pursuant to this Section for
any increased costs or reductions incurred more than 270 days prior to the date that such Affected 

  
 16 

	 	
Person, notifies the Seller of the Change in Law giving rise to such increased costs or reductions and of such Affected Person’s intention to claim compensation therefor; provided,
further that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 270-day period referred to above shall be extended to include the period of retroactive
effect thereof. 

 Section 1.10 Requirements of Law. 

(a)    If, after the Closing Date, any Affected Person determines that any Change in Law: 

(i)    does or shall subject such Affected Person to any Tax of any kind whatsoever with respect to this
Agreement, any purchase of or investment in the Purchased Assets or any increase in the amount of Capital relating thereto, or does or shall change the basis of taxation of payments to such Affected Person on account of Collections, Discount or any
other amounts payable hereunder (excluding Indemnified Taxes and Excluded Taxes), 
 (ii)    does or
shall impose, modify or hold applicable any reserve, special deposit, compulsory loan or similar requirement against assets held by, or deposits or other liabilities in or for the account of, purchases, advances or loans by, or other credit extended
by, or any other acquisition of funds by, any office of such Affected Person that are not otherwise included in the determination of the Euro-Rate hereunder, or 

(iii)    does or shall impose on such Affected Person any other condition, 

and the result of any of the foregoing is: (A) to increase the cost to such Affected Person of agreeing to purchase or purchasing or maintaining the
ownership of, or issuing any Letter of Credit in respect of, the Purchased Assets (or interests therein) or any Portion of Capital, or (B) to reduce any amount receivable hereunder (whether directly or indirectly), then, in any such case, upon
demand by such Affected Person, the Seller shall promptly pay to such Affected Person additional amounts necessary to compensate such Affected Person for such additional cost or reduced amount receivable. All such amounts shall be payable as
incurred. 
 (b)    A certificate of an Affected Person (or its related Purchaser Agent) setting forth the amount or
amounts necessary to compensate such Affected Person as specified in clause (a) of this Section and delivered to the Seller and the Administrator, shall be conclusive absent manifest error; provided, however,
that no Affected Person shall be required to disclose any confidential or tax planning information in any such certificate. The Seller shall pay such Affected Person’s related Purchaser Agent (for the account of such Affected Person) the amount
shown as due on each Settlement Date occurring after the Seller’s receipt of such certificate. 
 (c)    Failure or
delay on the part of any Affected Person to demand compensation pursuant to this Section 1.10 shall not constitute a waiver of such Affected Person’s right to demand such compensation; provided that the Seller
shall not be required to compensate an 

  
 17 

 
Affected Person pursuant to this Section for any increased costs or reductions incurred more than 270 days prior to the date that such Affected Person, notifies the Seller of the Change in Law
giving rise to such increased costs or reductions and of such Affected Person’s intention to claim compensation therefor; provided further that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then
the 270-day period referred to above shall be extended to include the period of retroactive effect thereof. 

Section 1.11 Inability to Determine Euro-Rate. 
  

	 	(a)	If the Administrator (or any Purchaser Agent) determines on any day (which determination shall be final and conclusive) that, by reason of circumstances affecting the interbank eurodollar market generally, deposits in
U.S. Dollars (in the relevant amounts for such Settlement Period) are not being offered to banks in the interbank eurodollar market on such day, or adequate means do not exist for ascertaining the Euro-Rate on such day, then, the Administrator or
such Purchaser Agent, as applicable, shall give notice thereof to the Seller. Thereafter, until the Administrator or such Purchaser Agent notifies the Seller that the circumstances giving rise to such suspension no longer exist, (i) no Portion
of Capital shall be funded at the Alternate Rate determined by reference to the Euro-Rate and (ii) the Discount for any outstanding Portions of Capital then funded at the Alternate Rate determined by reference to the Euro-Rate shall be
converted to the Alternate Rate determined by reference to the Base Rate. 

  

	 	(b)	If, on any day, the Administrator shall have been notified by any Affected Person that, such Affected Person has determined (which determination shall be final and conclusive) that, any enactment, promulgation or
adoption of or any change in any Applicable Law or any change in the interpretation or administration thereof by a governmental authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by
such Affected Person with any guideline, request or directive (whether or not having the force of law) of any such authority, central bank or comparable agency shall make it unlawful or impossible for such Affected Person to fund or maintain any
Portion of Capital at the Alternate Rate and based upon the Euro-Rate, the Administrator shall notify the Seller thereof. Upon receipt of such notice, until the Administrator notifies the Seller that the circumstances giving rise to such
determination no longer apply, (i) no Portion of Capital shall be funded at the Alternate Rate determined by reference to the Euro-Rate and (ii) the Discount for any outstanding Portions of Capital then funded at the Alternate Rate
determined by reference to the Euro-Rate shall immediately be converted to the Alternate Rate determined by reference to the Base Rate. 

Section 1.12 Extension of the Facility Termination Date. 

Provided that no Termination Event or Unmatured Termination Event exists and is continuing, the Seller may request the extension of the
Facility Termination Date set forth in clause (a) of the definition thereof by providing written notice to the Administrator and each 

  
 18 

 
Purchaser Agent; provided such request is made not more than 120 days prior to, and not less than 60 days prior to, the then current Facility Termination Date scheduled to occur pursuant
to clause (a) of the definition thereof. In the event that the Purchasers are all agreeable to such extension, the Administrator shall so notify the Seller and the Servicer in writing (it being understood that each Purchaser may
accept or decline such a request in its sole discretion and on such terms as it may elect) not less than 30 days prior to the then current Facility Termination Date scheduled to occur pursuant to clause (a) of the definition thereof, and
the Seller, the Servicer, the Sub-Servicers, the Administrator, the Purchaser Agents and the Purchasers shall enter into such documents as the Administrator, the Purchaser Agents and the Purchasers may deem
necessary or appropriate to reflect such extension, and all reasonable costs and expenses incurred by the Purchasers, the Purchaser Agents and the Administrator in connection therewith (including reasonable Attorney Costs) shall be paid by the
Seller. In the event any Purchaser declines the request for such extension, such Purchaser (or its Purchaser Agent) shall so notify the Administrator and the Administrator shall so notify the Seller of such determination; provided, that the
failure of the Administrator to notify the Seller of the determination to decline such extension shall not affect the understanding and agreement that the applicable Purchasers shall be deemed to have refused to grant the requested extension in the
event the Administrator fails to affirmatively notify the Seller, in writing, of their agreement to accept the requested extension. If the Facility Termination Date is extended with respect to one or more, but less than all Purchasers, then the
Purchase Limit shall be reduced ratably with respect to the Purchasers in each Purchaser Group by an amount equal to the Commitment(s) of the Exiting Purchaser(s) and the Commitment Percentages and Group Commitments of the Purchasers within each
Purchaser Group shall be appropriately adjusted. 
 Section 1.13 Letters of Credit. 

 

	 	(a)	Subject to the terms and conditions hereof (including the satisfaction of the applicable conditions set forth in Exhibit II), the LC Bank shall issue or cause the issuance of standby Letters of Credit denominated
in either U.S. Dollars or Australian Dollars (“Letters of Credit”) at the Seller’s direction, for the account of the Servicer or any Sub-Servicer (or such of the Servicer’s or any Sub-Servicer’s designee, which designee shall be a Subsidiary of such Sub-Servicer or the Servicer, as applicable); provided, however, that, for the
avoidance of doubt, the LC Bank’s obligation to issue a Letter of Credit shall be subject in all respects to the limitations set forth in the last sentence of the first paragraph of Section 1.1(a). 

 

	 	(b)	Notwithstanding anything to the contrary set forth herein or in any other Transaction Document, the LC Bank shall be under no obligation to issue Letters of Credit requested by the Seller which are denominated in
Australian Dollars if the LC Bank notifies the Seller on or prior to the date of such issuance that the issuance of such Letter of Credit, or the funding of any draw thereunder has been made or, in the case of a draw, would be made, impracticable or
unlawful by compliance by the LC Bank in good-faith with any Applicable Law or any request or directive of any Governmental Authority (whether or not having the force of law). 

  
 19 

	 	(c)	Discount shall accrue on all amounts drawn under Letters of Credit for each day on and after the applicable Drawing Date so long as such drawn amounts shall have not been reimbursed to the LC Bank pursuant to the terms
hereof. 

 Section 1.14 Issuance of Letters of Credit. 

 

	 	(a)	The Seller may request the LC Bank, upon two (2) Business Days’ prior written notice submitted on or before 11:00 a.m., New York time, to issue a Letter of Credit by delivering to the Administrator an
Investment Notice substantially in the form of Annex B attached hereto and the LC Bank’s form of Letter of Credit Application (the “Letter of Credit Application”), substantially in the form of Annex E attached
hereto completed to the satisfaction of the Administrator and the LC Bank; and, such other certificates, documents and other papers and information as the Administrator may reasonably request. The Seller also has the right to give instructions and
make agreements with respect to any Letter of Credit Application and the disposition of documents, and to agree with the Administrator upon any amendment, extension or renewal of any Letter of Credit. 

 

	 	(b)	Each Letter of Credit shall, among other things, (i) provide for the payment of sight drafts or other written demands for payment when presented for honor thereunder in accordance with the terms thereof and when
accompanied by the documents described therein and (ii) have an expiry date not later than twelve (12) months after such Letter of Credit’s date of issuance, extension or renewal, as the case may be, and in no event later than twelve
(12) months after the Facility Termination Date. The terms of each Letter of Credit may include customary “evergreen” provisions providing that such Letter of Credit’s expiry date shall automatically be extended for additional
periods not to exceed twelve (12) months unless, not less than thirty (30) days (or such longer period as may be specified in such Letter of Credit) (the “Notice Date”) prior to the applicable expiry date, the LC Bank
delivers written notice to the beneficiary thereof declining such extension; provided, however, that if (x) any such extension would cause the expiry date of such Letter of Credit to occur after the date that is twelve
(12) months after the Facility Termination Date determined pursuant to clause (a) of the definition thereof or (y) the LC Bank determines that any condition precedent to issuing such Letter of Credit hereunder are not satisfied
(other than any such condition requiring the Seller to submit an Investment Notice or Letter of Credit Application in respect thereof), then the LC Bank, in the case of clause (x) above, may (or at the written direction of any LC
Participant, shall) or, in the case of clause (y) above, shall, use reasonable efforts in accordance with (and to the extent permitted by) the terms of such Letter of Credit to prevent the extension of such expiry date (including
notifying the Seller and the beneficiary of such Letter of Credit in writing prior to the Notice Date that such expiry date will not be so extended). Each Letter of Credit shall be subject either to the Uniform Customs and Practice for Documentary
Credits (2007 Revision), International Chamber of Commerce Publication No. 600, and any amendments or revisions thereof adhered to by the LC Bank or the International Standby Practices (ISP98-International Chamber of Commerce Publication Number
590), and any amendments or revisions thereof adhered to by the LC Bank, as determined by the LC Bank. 

  
 20 

	 	(c)	Immediately upon the issuance by the LC Bank of any Letter of Credit (or any amendment to a Letter of Credit increasing the amount thereof), the LC Bank shall be deemed to have sold and transferred to each LC
Participant, and each LC Participant shall be deemed irrevocably and unconditionally to have purchased and received from the LC Bank, without recourse or warranty, an undivided interest and participation, to the extent of such LC Participant’s
Pro Rata Share, in such Letter of Credit, each drawing made thereunder and the obligations of the Seller hereunder with respect thereto, and any security therefor or guaranty pertaining thereto. Upon any change in the Commitments or Pro Rata Shares
of the LC Participants pursuant to this Agreement, it is hereby agreed that, with respect to all outstanding Letters of Credit and unreimbursed drawings thereunder, there shall be an automatic adjustment to the participations pursuant to this
Section 1.14(c) to reflect the new Pro Rata Shares of the assignor and assignee LC Participant or of all LC Participants with Commitments, as the case may be. In the event that the LC Bank makes any payment under any Letter of Credit and the
Seller shall not have reimbursed such amount in full to the LC Bank pursuant to Section 1.16(a), each LC Participant shall be obligated to make Participation Advances with respect to such Letter of Credit in accordance with Section
1.16(b). 

 Section 1.15 Requirements For Issuance of Letters of Credit. 

The Seller shall authorize and direct the LC Bank to name the Seller, the Servicer or any Sub-Servicer
(or such the Servicer’s or any Sub-Servicer’s, as applicable, designee, which designee shall be a Subsidiary of such Sub-Servicer or the Servicer, as
applicable) as the “Applicant” or “Account Party” of each Letter of Credit. 
 Section 1.16 Disbursements,
Reimbursement. 
  

	 	(a)	 In the event of any request for a drawing under a Letter of Credit by the beneficiary or transferee thereof, the
LC Bank will promptly notify the Administrator and the Seller of such request. The Seller shall reimburse (such obligation to reimburse the LC Bank shall sometimes be referred to as a “Reimbursement Obligation”) the LC Bank in U.S.
Dollars prior to noon (New York City time), on each date that an amount is paid by the LC Bank under any Letter of Credit (each such date, a “Drawing Date”) in an amount equal to the U.S. Dollar Equivalent (determined as of the
applicable Drawing Date) of the amount so paid by the LC Bank. Such Reimbursement Obligation shall be satisfied by the Seller (i) first, by the remittance by the Administrator to the LC Bank of any available amounts denominated in the same
currency as the Letter of Credit relating to such Reimbursement Obligation then on deposit in any LC Collateral Account, (ii) second, by the remittance by or on behalf of the Seller to

  
 21 

	 	
the LC Bank of any other funds of the Seller then available for disbursement and (iii) third, by the remittance by the Administrator to the LC Bank of any available amounts then on deposit
in the LC Collateral Account denominated in a currency other than the currency of the Letter of Credit relating to such Reimbursement Obligation; provided, that at the time of such remittance, such amounts shall be converted to the currency
of the Letter of Credit relating to such Reimbursement Obligation. In the event the Seller fails to reimburse the LC Bank for the full U.S. Dollar Equivalent of the amount of any drawing under any Letter of Credit by noon (New York City time)
on the Drawing Date (including because the conditions precedent to an Investment requested by the Seller pursuant to Section 1.2 shall not have been satisfied), the LC Bank will promptly notify each LC Participant thereof.
Any notice given by the LC Bank pursuant to this Section may be oral if promptly confirmed in writing; provided that the lack of such a prompt written confirmation shall not affect the conclusiveness or binding effect of such oral notice.

  

	 	(b)	Each LC Participant shall upon any notice pursuant to clause (a) above make available to the LC Bank an amount in U.S. Dollars in immediately available funds equal to its Pro Rata Share of the
U.S. Dollar Equivalent (determined as of the applicable Drawing Date) of the amount of the drawing (a “Participation Advance”), whereupon the LC Participants shall each be deemed to have made an Investment in U.S. Dollars in
that amount. If any LC Participant so notified fails to make available to the LC Bank the amount in U.S. Dollars of such LC Participant’s Pro Rata Share of such U.S. Dollar Equivalent amount by no later than 2:00 p.m., New York time on the
Drawing Date, then interest shall accrue on such LC Participant’s obligation to make such payment, from the Drawing Date to the date on which such LC Participant makes such payment (i) at a rate per annum equal to the Federal Funds Rate
during the first three days following the Drawing Date and (ii) at a rate per annum equal to the Base Rate on and after the fourth day following the Drawing Date. The LC Bank will promptly give notice of the occurrence of the Drawing Date, but
failure of the LC Bank to give any such notice on the Drawing Date or in sufficient time to enable any LC Participant to effect such payment on such date shall not relieve such LC Participant from its obligation under this clause (b). Each LC
Participant’s Commitment shall continue until the last to occur of any of the following events: (A) the LC Bank ceases to be obligated to issue or cause to be issued Letters of Credit hereunder; (B) no Letter of Credit issued
hereunder remains outstanding and uncancelled or (C) all Persons (other than the Seller) have been fully reimbursed for all payments made under or relating to Letters of Credit. 

Section 1.17 Repayment of Participation Advances. 
  

	 	(a)	 Upon (and only upon) receipt by the LC Bank for its account of immediately available funds from the Seller
(i) in reimbursement of any payment made by the LC Bank under a Letter of Credit with respect to which any LC Participant has made a Participation Advance to the LC Bank, or (ii) in payment of Discount on

  
 22 

	 	
the Investments made or deemed to have been made in connection with any such draw, the LC Bank will pay to each LC Participant, ratably (based on the outstanding drawn amounts funded by each such
LC Participant in respect of such Letter of Credit), in the same funds as those received by the LC Bank; it being understood, that the LC Bank shall retain a ratable amount of such funds that were not the subject of any payment
in respect of such Letter of Credit by any LC Participant. 

  

	 	(b)	If the LC Bank is required at any time to return to the Seller, or to a trustee, receiver, liquidator, custodian, or any official in any Insolvency Proceeding, any portion of the payments made by the Seller to the LC
Bank pursuant to this Agreement in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each LC Participant shall, on demand of the LC Bank, forthwith return to the LC Bank the amount of its Pro Rata Share of any
amounts so returned by the LC Bank plus interest at the Federal Funds Rate from the date the payment was first made to such LC Participant through, but not including, the date the payment is returned by such LC Participant. 

 

	 	(c)	If any Letters of Credit are outstanding and undrawn on the Facility Termination Date, the LC Collateral Accounts shall be funded from Collections (or, in the Seller’s sole discretion, by other funds available to
the Seller) in an amount (which amount may be held in U.S. Dollars or Australian Dollars and is subject to conversion by the Administrator in accordance with Section 1.23) equal to the U.S. Dollar Equivalent of the
aggregate undrawn face amount of such Letters of Credit plus the U.S. Dollar Equivalent of all related fees to accrue through the stated expiration dates thereof, including any customary presentation, amendment and other processing fees, and
other standard costs and charges, of the LC Bank relating to letters of credit (such fees to accrue, as reasonably estimated by the LC Bank, the “LC Fee Expectation”). 

Section 1.18 Documentation. 

The Seller agrees to be bound by and shall cause the Servicer or any Sub-Servicer (or such the
Servicer’s or any Sub-Servicer’s, as applicable, designee, which designee shall be a Subsidiary of such Sub-Servicer or the Servicer, as applicable) named as
the “Applicant” or “Account Party” of any Letter of Credit to agree to be bound by the terms of the Letter of Credit Application and by the LC Bank’s interpretations of any Letter of Credit issued for the Seller and by the
LC Bank’s written regulations and customary practices relating to letters of credit, though the LC Bank’s interpretation of such regulations and practices may be different from the Seller’s own. In the event of a conflict between the
Letter of Credit Application and this Agreement, this Agreement shall govern. It is understood and agreed that, except in the case of gross negligence or willful misconduct by the LC Bank, the LC Bank shall not be liable for any error, negligence
and/or mistakes, whether of omission or commission, in following the Seller’s instructions or those contained in the Letters of Credit or any modifications, amendments or supplements thereto. In addition to any other fees or expenses owing
under the Fee Letter or any other Transaction Document or otherwise pursuant to any Letter of Credit Application, the Seller shall 

  
 23 

 
pay to the LC Bank for its own account any customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of the LC Bank relating to letters of
credit as from time to time in effect. Such customary fees shall be due and payable upon demand and shall be nonrefundable. 

Section 1.19 Determination to Honor Drawing Request. 

In determining whether to honor any request for drawing under any Letter of Credit by the beneficiary thereof, the LC Bank shall be responsible
only to determine that the documents and certificates required to be delivered under such Letter of Credit have been delivered and that they comply on their face with the requirements of such Letter of Credit and that any other drawing condition
appearing on the face of such Letter of Credit has been satisfied in the manner so set forth. 
 Section 1.20 Nature of
Participation and Reimbursement Obligations. 
 Each LC Participant’s obligation in accordance with this Agreement to make
Participation Advances as a result of a drawing under a Letter of Credit, and the obligations of the Seller to reimburse the LC Bank upon a draw under a Letter of Credit, shall be absolute, unconditional and irrevocable, and shall be performed
strictly in accordance with the terms of this Article I under all circumstances, including the following circumstances: 

(i)    any set-off, counterclaim, recoupment, defense or other
right which such LC Participant may have against the LC Bank, the Administrator, any Purchaser Agent, any Purchaser, the Seller or any other Person for any reason whatsoever; 

(ii)    the failure of the Seller or any other Person to comply with the conditions set forth in this
Agreement for the making of an Investment, Reinvestments, requests for Letters of Credit or otherwise, it being acknowledged that such conditions are not required for the making of Participation Advances hereunder; 

(iii)    any lack of validity or enforceability of any Letter of Credit; 

(iv)    any claim of breach of warranty that might be made by the Seller, the LC Bank or any LC Participant
against the beneficiary of a Letter of Credit, or the existence of any claim, set-off, defense or other right which the Seller, the LC Bank or any LC Participant may have at any time against a beneficiary, any
successor beneficiary or any transferee of any Letter of Credit or the proceeds thereof (or any Persons for whom any such transferee may be acting), the LC Bank, any LC Participant, any Purchaser Agent, any Purchaser or any other Person, whether in
connection with this Agreement, the transactions contemplated herein or any unrelated transaction (including any underlying transaction between the Seller or any Subsidiaries of the Seller or any Affiliates of the Seller and the beneficiary for
which any Letter of Credit was procured); 

  
 24 

 (v)    the lack of power or authority of any signer of, or
lack of validity, sufficiency, accuracy, enforceability or genuineness of, any draft, demand, instrument, certificate or other document presented under any Letter of Credit, or any such draft, demand, instrument, certificate or other document
proving to be forged, fraudulent, invalid, defective or insufficient in any respect or any statement therein being untrue or inaccurate in any respect, even if the Administrator or the LC Bank has been notified thereof; 

(vi)    payment by the LC Bank under any Letter of Credit against presentation of a demand, draft or
certificate or other document which does not comply with the terms of such Letter of Credit other than as a result of the gross negligence or willful misconduct of the LC Bank; 

(vii)    the solvency of, or any acts or omissions by, any beneficiary of any Letter of Credit, or any
other Person having a role in any transaction or obligation relating to a Letter of Credit, or the existence, nature, quality, quantity, condition, value or other characteristic of any property or services relating to a Letter of Credit; 

(viii)    any failure by the LC Bank or any of the LC Bank’s Affiliates to issue any Letter of Credit
in the form requested by the Seller, unless the LC Bank has received written notice from the Seller of such failure within three Business Days after the LC Bank shall have furnished the Seller a copy of such Letter of Credit and such error is
material and no drawing has been made thereon prior to receipt of such notice; 
 (ix)    any Material
Adverse Effect on the Seller, any Originator or any Affiliates thereof; 
 (x)    any breach of this
Agreement or any Transaction Document by any party thereto; 
 (xi)    the occurrence or continuance of
an Insolvency Proceeding with respect to the Seller, any Originator or any Affiliate thereof; 

(xii)    the fact that a Termination Event or an Unmatured Termination Event shall have occurred and be
continuing; 
 (xiii)    the fact that this Agreement or the obligations of Seller or Servicer hereunder
shall have been terminated; and 
 (xiv)    any other circumstance or happening whatsoever, whether or
not similar to any of the foregoing. 
 Nothing in this Section 1.20 shall relieve the LC Bank from liability for
its gross negligence or willful misconduct, as determined by a final non-appealable judgment of a court of competent jurisdiction. 

  
 25 

 Section 1.21 Indemnity. 

In addition to other amounts payable hereunder, the Seller hereby agrees to protect, indemnify, pay and save harmless the Administrator, the LC
Bank, each LC Participant and any of the LC Bank’s Affiliates that have issued a Letter of Credit from and against any and all claims, demands, liabilities, damages, penalties, interest, judgments, losses, costs, charges and expenses (including
Attorney Costs) which the Administrator, the LC Bank, any LC Participant or any of their respective Affiliates may incur or be subject to as a consequence, direct or indirect, of the issuance of any Letter of Credit (including any losses resulting
from the amount of any Australian Dollars purchased by the LC Bank with the proceeds of U.S. Dollars received from the Seller or any LC Participant in connection with any drawing under a Letter of Credit denominated in Australian Dollars for any
reason falling short of the amount of the Australian Dollars paid by the LC Bank in connection with such drawing), other than as a result of (a) the gross negligence or willful misconduct of the party to be indemnified as determined by a final
judgment of a court of competent jurisdiction or (b) the wrongful dishonor by the LC Bank or any of its Affiliates of a proper demand for payment made under any Letter of Credit, except if such dishonor resulted from any act or omission,
whether rightful or wrongful, of any present or future de jure or de facto Governmental Authority (all such acts or omissions herein called “Governmental Acts”). This Section 1.21 shall not apply with
respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim pursuant to this Section 1.21. 

Section 1.22 Liability for Acts and Omissions. 

As between the Seller, on the one hand, and the Administrator, the LC Bank, the LC Participants, the Purchaser Agents and the Purchasers, on
the other, the Seller assumes all risks of the acts and omissions of, or misuse of the Letters of Credit by, (x) the respective beneficiaries or (y) the Servicer or any Sub-Servicer (or such the
Servicer’s or any Sub-Servicer’s, as applicable, designee, which designee shall be a Subsidiary of such Sub-Servicer or the Servicer, as applicable) named as
the “Applicant” or “Account Party” of such Letters of Credit. In furtherance and not in limitation of the respective foregoing, none of the Administrator, the LC Bank, the LC Participants, the Purchaser Agents or the Purchasers
shall be responsible for: (i) the form, validity, sufficiency, accuracy, genuineness or legal effect of any document submitted by any party in connection with the application for an issuance of any such Letter of Credit, even if it should in
fact prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent or forged (even if the LC Bank shall have been notified thereof); (ii) the validity or sufficiency of any instrument transferring or assigning or purporting to
transfer or assign any such Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason; (iii) the failure of the beneficiary of any such Letter of
Credit, or any other party to which such Letter of Credit may be transferred, to comply fully with any conditions required in order to draw upon such Letter of Credit or any other claim of the Seller against any beneficiary of such Letter of Credit,
or any such transferee, or any dispute between or among the Seller and any beneficiary of any Letter of Credit or any such transferee; (iv) errors, omissions, interruptions or delays in transmission or delivery of any messages, by mail, cable,
telegraph, telex or otherwise, whether or not they be in cipher; (v) errors in interpretation of technical terms; (vi) any loss or delay in the transmission or otherwise 

  
 26 

 
of any document required in order to make a drawing under any such Letter of Credit or of the proceeds thereof; (vii) the misapplication by the beneficiary of any such Letter of Credit of
the proceeds of any drawing under such Letter of Credit; or (viii) any consequences arising from causes beyond the control of the Administrator, the LC Bank, the LC Participants, the Purchaser Agents and the Purchasers, including any
Governmental Acts, and none of the above shall affect or impair, or prevent the vesting of, any of the LC Bank’s rights or powers hereunder. Nothing in the preceding sentence shall relieve the LC Bank from liability for its gross negligence or
willful misconduct, as determined by a final non-appealable judgment of a court of competent jurisdiction, in connection with actions or omissions described in such clauses (i) through (viii) of such
sentence. In no event shall the Administrator, the LC Bank, the LC Participants, the Purchaser Agents, the Purchasers or their respective Affiliates, be liable to the Seller or any other Person for any indirect, consequential, incidental, punitive,
exemplary or special damages or expenses (including without limitation attorneys’ fees), or for any damages resulting from any change in the value of any property relating to a Letter of Credit. 

Without limiting the generality of the foregoing, the Administrator, the LC Bank, the LC Participants, the Purchaser Agents, the Purchasers
and each of their respective Affiliates (i) may rely on any written communication believed in good faith by such Person to have been authorized or given by or on behalf of the applicant for a Letter of Credit; (ii) may honor any
presentation if the documents presented appear on their face to comply with the terms and conditions of the relevant Letter of Credit; (iii) may honor a previously dishonored presentation under a Letter of Credit, whether such dishonor was
pursuant to a court order, to settle or compromise any claim of wrongful dishonor, or otherwise, and shall be entitled to reimbursement to the same extent as if such presentation had initially been honored, together with any interest paid by the LC
Bank or its Affiliates; (iv) may honor any drawing that is payable upon presentation of a statement advising negotiation or payment, upon receipt of such statement (even if such statement indicates that a draft or other document is being
delivered separately), and shall not be liable for any failure of any such draft or other document to arrive, or to conform in any way with the relevant Letter of Credit; (v) may pay any paying or negotiating bank claiming that it rightfully
honored under the laws or practices of the place where such bank is located; and (vi) may settle or adjust any claim or demand made on the Administrator, the LC Bank, the LC Participants, the Purchaser Agents, the Purchasers or their respective
Affiliates, in any way related to any order issued at the applicant’s request to an air carrier, a letter of guarantee or of indemnity issued to a carrier or any similar document (each an “Order”) and honor any drawing in
connection with any Letter of Credit that is the subject of such Order, notwithstanding that any drafts or other documents presented in connection with such Letter of Credit fail to conform in any way with such Letter of Credit. 

In furtherance and extension and not in limitation of the specific provisions set forth above, any action taken or omitted by the LC Bank
under or in connection with the Letters of Credit issued by it or any documents and certificates delivered thereunder, if taken or omitted in good faith and without gross negligence or willful misconduct, as determined by a final non-appealable judgment of a court of competent jurisdiction, shall not put the LC Bank under any resulting liability to the Seller, any LC Participant or any other Person. 

  
 27 

 Section 1.23 LC Collateral Accounts.  

 

	 	(a)	Provided that no Termination Event or Unmatured Termination Event has occurred and is continuing, the Facility Termination Date has not occurred, and a Minimum Cash Liquidity Event has not occurred, the Seller may from
time to time advise the Administrator and each Purchaser Agent in writing of its desire to convert certain amounts that are on deposit in an LC Collateral Account and that are denominated in one currency to another currency that is either
denominated in U.S. Dollars or Australian Dollars. Following receipt of such request, the Administrator shall notify the Seller in writing whether or not the Administrator is agreeable to such conversion; provided, however, that if the
Administrator fails to so notify the Seller within one Business Day, the Administrator shall be deemed to have declined such conversion request. In the event that the Administrator has so notified the Seller in writing that it is agreeable to such
conversion, the Seller and the Administrator shall enter into such documents as the Administrator may deem necessary or appropriate to effect such conversion, and such conversion shall occur at such exchange rate as agreed to in writing between the
Administrator and the Seller. 

  

	 	(b)	At any time that a Termination Event or Unmatured Termination Event has occurred and is continuing, at any time on or after the occurrence of the Facility Termination Date, at any time on or after the occurrence of a
Minimum Cash Liquidity Event or at any time a Reimbursement Obligation is then owing, so long as the Adjusted Australian Dollar LC Participation Amount is greater than zero, the Administrator may, in its sole discretion, convert any amounts that are
on deposit in an LC Collateral Account and that are denominated in one currency to U.S. Dollars or Australian Dollars. Any such conversion shall occur at the exchange rate reasonably determined by the Administrator to exist at such time of
conversion and which is available to the Administrator at such time of conversion. 

  

	 	(c)	In connection with any such conversion occurring pursuant to this Section 1.23, the Seller shall promptly pay the Administrator all customary fees and expenses as well as standard costs and
charges of the Administrator in connection with such conversion as well as all out-of-pocket documented costs and expenses incurred by the Administrator in connection
therewith. The proceeds of any such conversion shall be deposited by the Administrator into the applicable LC Collateral Account. 

  
 28 

 ARTICLE II. 

REPRESENTATIONS AND WARRANTIES; COVENANTS; TERMINATION EVENTS 

Section 2.1 Representations and Warranties; Covenants. 

Each of the Seller, Peabody and the Servicer hereby makes the representations and warranties, and hereby agrees to perform and observe the
covenants, applicable to it set forth in Exhibits III and IV, respectively. 
 Section 2.2 Termination Events.

 If any of the Termination Events set forth in Exhibit V shall occur, the Administrator may (with the consent of
the Majority Purchaser Agents) or shall (at the direction of the Majority Purchaser Agents), by notice to the Seller, declare the Facility Termination Date to have occurred (in which case the Facility Termination Date shall be deemed to have
occurred); provided, that automatically upon the occurrence of any event (without any requirement for the passage of time or the giving of notice) described in paragraph (f) of Exhibit V, the Facility
Termination Date shall occur. Upon any such declaration, occurrence or deemed occurrence of the Facility Termination Date, the Administrator, the Purchaser Agents and the Purchasers shall have, in addition to the rights and remedies that they may
have under this Agreement, all other rights and remedies provided after default under the New York UCC, the PPSA and under other Applicable Law, which rights and remedies shall be cumulative. 

ARTICLE III. 

INDEMNIFICATION 

Section 3.1 Indemnities by the Seller. 

Without limiting any other rights that the Administrator, the Purchaser Agents, the Purchasers, the Liquidity Banks, any Program Support
Provider or any of their respective Affiliates, employees, officers, directors, agents, counsel, successors, transferees or permitted assigns (each, an “Indemnified Party”) may have hereunder or under Applicable Law, the Seller
hereby agrees to indemnify each Indemnified Party from and against any and all claims, damages, expenses, costs, losses and liabilities (including Attorney Costs) (all of the foregoing being collectively referred to as “Indemnified
Amounts”) arising out of or resulting from this Agreement (whether directly or indirectly), the use of proceeds of Investments or Reinvestments, the ownership of any portion of the Purchased Assets, or any interest therein, or in respect of
any Receivable, Related Security or Contract, excluding, however: (a) Indemnified Amounts to the extent resulting from gross negligence or willful misconduct on the part of such Indemnified Party or its employees, officers, directors, agents,
counsel, successors, transferees or permitted assigns or (b) any indemnification which has the effect of recourse for the non-payment of the Receivables to any indemnitor (except as otherwise specifically
provided in this Agreement). Without limiting or being limited by the foregoing, and subject to the exclusions set forth in the preceding sentence, the Seller shall pay on demand (which demand shall be accompanied by documentation of the Indemnified
Amounts, in reasonable detail) to each Indemnified Party any 

  
 29 

 
and all amounts necessary to indemnify such Indemnified Party from and against any and all Indemnified Amounts relating to or resulting from any of the following: 

(i)    the failure of any Receivable included in the calculation of the Net Receivables Pool Balance as an
Eligible Receivable to be an Eligible Receivable, the failure of any information contained in an Information Package or Interim Report to be true and correct on the date thereof (or, if such information is stated therein to be as of a different
date, on such different date), or the failure of any other information provided to any Purchaser or the Administrator with respect to Receivables or this Agreement to be true and correct on the date so provided (or, if such information is stated
therein to be as of a different date, on such different date), 
 (ii)    the failure of any
representation, warranty or statement made or deemed made by the Seller (or any of its officers) under or in connection with this Agreement to have been true and correct as of the date made or deemed made in all respects when made, 

(iii)    the failure by the Seller to comply with any Applicable Law with respect to any Pool Receivable or
the related Contract, or the failure of any Pool Receivable or the related Contract to conform to any such Applicable Law, 

(iv)    the failure to vest in the Administrator (on behalf of the Purchasers) a valid and enforceable
first priority perfected ownership or security interest in the Pool Assets, free and clear of any Adverse Claim, 

(v)    the failure to have filed, or any delay in filing, financing statements or other similar instruments
or documents under the UCC or PPSA of any applicable jurisdiction or other Applicable Laws with respect to any Receivables in, or purporting to be in, the Receivables Pool and the other Pool Assets against Peabody, the Seller or any Originator,
whether at the time of any Investment or Reinvestment or at any subsequent time, 
 (vi)    any dispute,
claim, offset or defense (other than discharge in bankruptcy of the Obligor) of the Obligor to the payment of any Receivable in, or purporting to be in, the Receivables Pool (including a defense based on such Receivable or the related Contract not
being a legal, valid and binding obligation of such Obligor enforceable against it in accordance with its terms), or any other claim resulting from the sale of the goods or services related to such Receivable or the furnishing or failure to furnish
such goods or services or relating to collection activities with respect to such Receivable (if such collection activities were performed by the Seller or any of its Affiliates acting as Servicer or by any agent or independent contractor retained by
the Seller or any of its Affiliates), 
 (vii)    any failure of the Seller (or any of its Affiliates
acting as the Servicer) to perform its duties or obligations in accordance with the provisions hereof or under the Contracts, 

  
 30 

 (viii)    any products liability or other claim,
investigation, litigation or proceeding arising out of or in connection with merchandise, insurance or services that are the subject of any Contract, 

(ix)    the commingling of Collections at any time with other funds, 

(x)    the use of proceeds of Investments or Reinvestments, or 

(xi)    any reduction in Capital as a result of the distribution of Collections pursuant to
Section 1.6(d), if all or a portion of such distributions shall thereafter be rescinded or otherwise must be returned for any reason. 

This Section 3.1 shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages,
etc. arising from any non-Tax claim pursuant to this Section 3.1. 

Section 3.2 Indemnities by the Servicer. 

Without limiting any other rights that any Indemnified Party may have hereunder or under Applicable Law, the Servicer hereby agrees to
indemnify each Indemnified Party from and against any and all Indemnified Amounts arising out of or resulting from (whether directly or indirectly): (a) the failure of any information contained in an Information Package or Interim Report to be
true and correct on the date thereof (or, if such information is stated therein to be as of a different date, on such different date), or the failure of any other information provided to any such Indemnified Party by, or on behalf of, the Servicer
to be true and correct on the date so provided (or, if such information is stated therein to be as of a different date, on such different date), (b) the failure of any representation, warranty or statement made or deemed made by the Servicer
(or any of its officers) under or in connection with this Agreement to have been true and correct as of the date made or deemed made in all respects when made, (c) the failure by the Servicer to comply with any Applicable Law with respect to
any Pool Receivable or the related Contract, (d) any dispute, claim, offset or defense of the Obligor to the payment of any Receivable in, or purporting to be in, the Receivables Pool resulting from or related to the collection activities with
respect to such Receivable, or (e) any failure of the Servicer to perform its duties or obligations in accordance with the provisions hereof. 

ARTICLE IV. 

ADMINISTRATION AND COLLECTIONS 

Section 4.1 Appointment of the Servicer. 
  

	 	(a)	 The servicing, administering and collection of the Pool Receivables shall be conducted by the Person so
designated from time to time as the Servicer in accordance with this Section. Until the Administrator gives notice to Peabody (in accordance with this Section) of the designation of a new Servicer, Peabody is hereby designated as, and hereby agrees
to perform the duties and obligations of, the Servicer pursuant to the terms hereof. Upon the occurrence of a Termination Event, the Administrator may designate as Servicer any Person (including itself)

  
 31 

	 	
to succeed Peabody or any successor Servicer, on the condition in each case that any such Person so designated shall agree to perform the duties and obligations of the Servicer pursuant to the
terms hereof. 

  

	 	(b)	Upon the designation of a successor Servicer as set forth in clause (a) above, Peabody agrees that it will terminate its activities as Servicer hereunder in a manner that the Administrator determines will
facilitate the transition of the performance of such activities to the new Servicer, and Peabody shall cooperate with and assist such new Servicer. Such cooperation shall include access to and transfer of related records and use by the new Servicer
of all licenses, hardware or software necessary or desirable to collect the Pool Receivables and the Related Security. 

  

	 	(c)	Peabody acknowledges that, in making their decision to execute and deliver this Agreement, the Administrator and the Purchasers have relied on Peabody’s agreement to act as Servicer hereunder. Accordingly, Peabody
agrees that it will not voluntarily resign as Servicer. 

  

	 	(d)	The Servicer may and hereby does delegate its duties and obligations hereunder to the Sub-Servicers; provided, that, in such delegation: (i) each such Sub-Servicer shall and hereby does agree in writing to perform the duties and obligations of the Servicer pursuant to the terms hereof, (ii) the Servicer shall remain primarily liable for the performance of the
duties and obligations so delegated, (iii) the Seller, the Administrator, the Purchaser Agents and the Purchasers shall have the right to look solely to the Servicer for performance, and (iv) the terms of any agreement with any Sub-Servicer shall and hereby do provide that the Administrator may terminate such agreement upon the termination of the Servicer hereunder by giving notice of its desire to terminate such agreement to the Servicer
(and the Servicer shall provide appropriate notice to each such Sub-Servicer); provided, however, that if any such delegation is to any Person other than any Person party hereto as a “Sub-Servicer”, the Administrator shall have consented in writing in advance to such delegation; provided, further, any Australian Sub-Servicer will
not have any duty or obligation with respect to any U.S. Originator Receivable. 

 Section 4.2 Duties of the
Servicer. 
  

	 	(a)	 The Servicer shall take or cause to be taken all such action as may be necessary or advisable to administer and
collect each Pool Receivable from time to time, all in accordance with this Agreement and all Applicable Laws, with reasonable care and diligence, and in accordance with the Credit and Collection Policy. The Servicer shall set aside, for the
accounts of the Seller, the Administrator, the Purchaser Agents and the Purchasers, the amount of the Collections to which each is entitled in accordance with Article I. The Servicer may, in accordance with the applicable Credit and
Collection Policy, extend the maturity of any Pool Receivable and extend the maturity or adjust the Outstanding Balance of any 

  
 32 

	 	
Defaulted Receivable as the Servicer may determine to be appropriate to maximize Collections thereof; provided, however, that: for the purposes of this Agreement, (i) such
extension shall not change the number of days such Pool Receivable has remained unpaid from the date of the invoice date related to such Pool Receivable, (ii) such extension or adjustment shall not alter the status of such Pool Receivable as a
Delinquent Receivable or a Defaulted Receivable or limit the rights of any of the Purchasers, the Purchaser Agents or the Administrator under this Agreement and (iii) if a Termination Event has occurred and is continuing and Peabody or an
Affiliate thereof is serving as the Servicer, Peabody or such Affiliate may make such extension or adjustment only upon the prior approval of the Administrator. The Seller shall deliver to the Servicer and the Servicer shall hold for the benefit of
the Seller and the Administrator (individually and for the benefit of the Purchasers), in accordance with their respective interests, all records and documents (including computer tapes or disks) with respect to each Pool Receivable. Notwithstanding
anything to the contrary contained herein, the Administrator may direct the Servicer (whether the Servicer is Peabody or any other Person) to commence or settle any legal action to enforce collection of any Pool Receivable or to foreclose upon or
repossess any Related Security. 

  

	 	(b)	The Servicer shall, as soon as practicable following actual receipt of collected funds, turn over to the Seller the collections of any indebtedness that is not a Pool Receivable, less, if Peabody or an Affiliate thereof
is not the Servicer, all reasonable and appropriate out-of-pocket costs and expenses of such Servicer of servicing, collecting and administering such collections. The
Servicer, if other than Peabody or an Affiliate thereof, shall, as soon as practicable upon demand, deliver to the Seller all records in its possession that evidence or relate to any indebtedness that is not a Pool Receivable, and copies of records
in its possession that evidence or relate to any indebtedness that is a Pool Receivable. 

  

	 	(c)	The Servicer’s obligations hereunder shall terminate on the Final Payout Date. 

 After
such termination, if Peabody or an Affiliate thereof was not the Servicer on the date of such termination, the Servicer shall promptly deliver to the Seller all books, records and related materials that the Seller previously provided to the
Servicer, or that have been obtained by the Servicer, in connection with this Agreement. 
 Section 4.3 Lock-Box Arrangements. 
 Subject to Section 5.21, prior to the Closing Date,
the Seller shall have entered into Lock-Box Agreements with all of the Lock-Box Banks and delivered executed counterparts thereof to the Administrator. During the
continuance of a Termination Event, Unmatured Termination Event or following the occurrence of a Minimum Cash Liquidity Event, the Administrator may (and shall, at the direction of the Majority Purchaser Agents), at any time thereafter give notice
to each Lock-Box Bank that the Administrator is exercising its rights under the Lock-Box Agreements to do any or all of the following: (a) to exercise exclusive
dominion 

  
 33 

 
and control (for the benefit of the Purchasers) over each of the Lock-Box Accounts and all funds on deposit therein and (b) to take any or all other
actions permitted under the applicable Lock-Box Agreement. The Seller and the Servicer each hereby agree that if the Administrator at any time takes any action set forth in the preceding sentence, the
Administrator shall have exclusive control (for the benefit of the Purchasers) of the proceeds (including Collections) of all Pool Receivables and the Seller and the Servicer hereby further agree to take any other action that the Administrator may
reasonably request to transfer such control or to ensure that the Administrator maintains such control. Any proceeds of Pool Receivables received by the Seller or the Servicer thereafter shall be sent immediately to, or as otherwise instructed by,
the Administrator. Following the occurrence and continuation of a Minimum Cash Liquidity Event, so long as the Administrator has taken exclusive dominion and control over each of the Lock-Box Accounts and no
Termination Event or Unmatured Termination Event exists, the Administrator shall instruct the Lock-Box Banks to transfer all available amounts on deposit in the Lock-Box
Accounts as of the end of each Business Day and after giving effect to any distributions to the Servicer on such day pursuant to Section 1.6(g), to the LC Collateral Accounts. 

The Administrator shall have exclusive dominion and control, including the exclusive right of withdrawal, over the LC Collateral Accounts.
Amounts, if any, on deposit in the LC Collateral Accounts on the Final Payout Date shall be remitted by the Administrator to the Seller. 

The Administrator shall, on each Settlement Date (if such date occurs on a Termination Day), remove any available amounts then on deposit in
the LC Collateral Accounts and deposit such amounts into each Purchaser Agent’s account in accordance with the priorities set forth in Section 1.6(d), to the extent that any amounts are then due and owing under clauses first
through second of Section 1.6(d)(ii) after giving effect to the distribution, if any, by the Servicer on such date in accordance with Section 1.6(d). 

Section 4.4 Enforcement Rights. 
  

	 	(a)	At any time following the occurrence and during the continuation of a Termination Event: 

(i)    the Administrator may direct the Obligors that payment of all amounts payable under any Pool
Receivable is to be made directly to the Administrator or its designee (on behalf of the Purchasers), 

(ii)    the Administrator may instruct the Seller or the Servicer to give notice of the Purchasers’
interest in Pool Receivables (other than, in the case of an Australian Originator, Pool Receivables which are Trust Receivables) to each Obligor, which notice shall direct that payments be made directly to the Administrator or its designee (on
behalf of the Purchasers), and the Seller or the Servicer, as the case may be, shall give such notice at the expense of the Seller or the Servicer, as the case may be; provided, that if the Seller or the Servicer, as the case may be, fails to
so notify each Obligor within two (2) Business Days following instruction by the Administrator, the Administrator (at the Seller’s or the Servicer’s, as the case may be, expense) may so notify the Obligors, and 

  
 34 

 (iii)    the Administrator may request the Servicer to, and
upon such request the Servicer shall: (A) assemble all of the records necessary or desirable to collect the Pool Receivables and the Related Security, and transfer or license to a successor Servicer the use of all software necessary or
desirable to collect the Pool Receivables and the Related Security, and make the same available to the Administrator or its designee (for the benefit of the Purchasers) at a place selected by the Administrator, and (B) segregate all cash,
checks and other instruments received by it from time to time constituting Collections in a manner acceptable to the Administrator and, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed
instruments of transfer, to the Administrator or its designee (on behalf of the Purchasers); and 

(iv)    the Administrator may replace the Person then acting as Servicer. 

 

	 	(b)	The Seller hereby authorizes the Administrator, and irrevocably appoints the Administrator as its attorney-in-fact with full power of
substitution and with full authority in the place and stead of the Seller, which appointment is coupled with an interest, to take any and all steps in the name of the Seller and on behalf of the Seller necessary or desirable following the occurrence
and during the continuation of a Termination Event, in the determination of the Administrator, to collect any and all amounts or portions thereof due under any and all Pool Assets, including endorsing the name of the Seller on checks and other
instruments representing Collections and enforcing such Pool Assets. Notwithstanding anything to the contrary contained in this subsection, none of the powers conferred upon such
attorney-in-fact pursuant to the preceding sentence shall subject such attorney-in-fact
to any liability if any action taken by it shall prove to be inadequate or invalid, nor shall they confer any obligations upon such attorney-in-fact in any manner
whatsoever. 

  

	 	(c)	For the purposes of the power of attorney granted under Section 8.5 of the Australian Sale Agreement: 

(i)    the Contributor nominates each of the Seller and the Administrator as its nominees, and each Australian Originator
acknowledges that each of the Seller and the Administrator are the nominees of the Contributor and therefore each of the Contributor, the Seller and the Administrator severally are an attorney of each Australian Originator; and 

(ii)    at any time following a “Title Perfection Event” (under and as defined in the Australian Sale
Agreement, the Administrator may instruct the Seller or Contributor to enforce any rights granted under Article VIII of the Australian Sale Agreement. 

  
 35 

 Section 4.5 Responsibilities of the Seller. 

 

	 	(a)	Anything herein to the contrary notwithstanding, the Seller shall: (i) perform all of its obligations, if any, under the Contracts related to the Pool Receivables to the same extent as if such Pool Receivables had
not been transferred hereunder, and the exercise by the Administrator, any Purchaser Agent or any Purchaser of their respective rights hereunder shall not relieve the Seller from such obligations, and (ii) pay when due any taxes, including any
sales taxes payable in connection with the Pool Receivables and their creation and satisfaction. Neither the Administrator nor any Purchaser Agent nor any Purchaser shall have any obligation or liability with respect to any Pool Asset, nor shall any
of them be obligated to perform any of the obligations of the Seller, Peabody or any Originator thereunder. 

  

	 	(b)	Peabody hereby irrevocably agrees that if at any time it shall cease to be the Servicer hereunder, it shall act (if the then-current Servicer so requests) as the data-processing agent of the Servicer and, in such
capacity, Peabody shall conduct the data-processing functions of the administration of the Receivables and the Collections thereon in substantially the same way that Peabody conducted such data-processing functions while it acted as the Servicer.

 Section 4.6 Servicing Fee. 
  

	 	(a)	Subject to clause (b), the Servicer shall be paid a fee equal to 1.00% per annum (the “Servicing Fee Rate”) of the daily average aggregate Outstanding Balance of the Pool Receivables. Such
fee shall be paid through the distributions contemplated by Section 1.6(d). 

  

	 	(b)	If the Servicer ceases to be Peabody or an Affiliate thereof, the servicing fee shall be the greater of: (i) the amount calculated pursuant to clause (a), and (ii) an alternative amount specified by the
successor Servicer not to exceed 110% of the aggregate reasonable costs and expenses incurred by such successor Servicer in connection with the performance of its obligations as Servicer. 

Section 4.7 Agents. 
  

	 	(a)	Appointment and Authorization. 

 (i)    Each
Purchaser and Purchaser Agent hereby irrevocably designates and appoints PNC Bank, National Association, as the “Administrator” hereunder and authorizes the Administrator to take such actions and to exercise such powers as are delegated to
the Administrator hereby and to exercise such other powers as are reasonably incidental thereto. The Administrator shall hold, in its name, for the benefit of each Purchaser, ratably, the Purchased Assets. The Administrator shall not have any duties
other than those expressly set forth herein or any fiduciary relationship with any Purchaser or Purchaser Agent, and no implied obligations or liabilities shall be read into 

  
 36 

 
this Agreement, or otherwise exist, against the Administrator. The Administrator does not assume, nor shall it be deemed to have assumed, any obligation to, or relationship of trust or agency
with, the Seller, the Servicer or any Sub-Servicer. Notwithstanding any provision of this Agreement or any other Transaction Document to the contrary, in no event shall the Administrator ever be required to
take any action which exposes the Administrator to personal liability or which is contrary to the provision of any Transaction Document or Applicable Law. 

(ii)    Each Purchaser hereby irrevocably designates and appoints the respective institution identified as
the Purchaser Agent for such Purchaser’s Purchaser Group on the signature pages hereto or in the Assumption Agreement or Transfer Supplement pursuant to which such Purchaser becomes a party hereto, and each authorizes such Purchaser Agent to
take such action on its behalf under the provisions of this Agreement and to exercise such powers and perform such duties as are expressly delegated to such Purchaser Agent by the terms of this Agreement, if any, together with such other powers as
are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in this Agreement, no Purchaser Agent shall have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with
any Purchaser or other Purchaser Agent or the Administrator, and no implied covenants, functions, responsibilities, duties, obligations or liabilities on the part of such Purchaser Agent shall be read into this Agreement or otherwise exist against
such Purchaser Agent. 
 (iii)    Except as otherwise specifically provided in this Agreement, the
provisions of this Section 4.7 are solely for the benefit of the Purchaser Agents, the Administrator and the Purchasers, and none of the Seller, the Servicer or any Sub-Servicer shall
have any rights as a third-party beneficiary or otherwise under any of the provisions of this Section 4.7, except that this Section 4.7 shall not affect any
obligations which any Purchaser Agent, the Administrator or any Purchaser may have to the Seller, the Servicer or any Sub-Servicer under the other provisions of this Agreement. Furthermore, no Purchaser shall
have any rights as a third-party beneficiary or otherwise under any of the provisions hereof in respect of a Purchaser Agent which is not the Purchaser Agent for such Purchaser. 

(iv)    In performing its functions and duties hereunder, the Administrator shall act solely as the agent
of the Purchasers and the Purchaser Agents and does not assume nor shall be deemed to have assumed any obligation or relationship of trust or agency with or for the Seller, the Servicer or any Sub-Servicer or
any of their successors and assigns. In performing its functions and duties hereunder, each Purchaser Agent shall act solely as the agent of its respective Purchaser and does not assume nor shall be deemed to have assumed any obligation or
relationship of trust or agency with or for the Seller, the Servicer, any Sub-Servicer any other Purchaser, any other Purchaser Agent or the Administrator, or any of their respective successors and assigns.

  

	 	(b)	Delegation of Duties. The Administrator may execute any of its duties through agents or attorneys-in-fact and shall be entitled to
advice of counsel concerning all matters pertaining to such duties. The Administrator shall not be responsible for the negligence or misconduct of any agents or
attorneys-in-fact selected by it with reasonable care. 

  
 37 

	 	(c)	Exculpatory Provisions. None of the Purchaser Agents, the Administrator or any of their respective directors, officers, agents or employees shall be liable for any action taken or omitted (i) with the
consent or at the direction of the Majority Purchaser Agents (or in the case of any Purchaser Agent, the Purchasers within its Purchaser Group that have a majority of the aggregate Commitment of such Purchaser Group) or (ii) in the absence of
such Person’s gross negligence or willful misconduct. The Administrator shall not be responsible to any Purchaser, Purchaser Agent or other Person for (i) any recitals, representations, warranties or other statements made by the Seller,
the Servicer, any Sub-Servicer, any Originator or any of their Affiliates, (ii) the value, validity, effectiveness, genuineness, enforceability or sufficiency of any Transaction Document, (iii) any
failure of the Seller, the Servicer, any Sub-Servicer, any Originator or any of their Affiliates to perform any obligation hereunder or under the other Transaction Documents to which it is a party (or under
any Contract), or (iv) the satisfaction of any condition specified in Exhibit II. The Administrator shall not have any obligation to any Purchaser or Purchaser Agent to ascertain or inquire about the observance or
performance of any agreement contained in any Transaction Document or to inspect the properties, books or records of the Seller, the Servicer, any Sub-Servicer, any Originator or any of their respective
Affiliates. 

  

	 	(d)	Reliance by Agents. 

 (i)    Each Purchaser Agent and
the Administrator shall in all cases be entitled to rely, and shall be fully protected in relying, upon any document or other writing or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person
and upon advice and statements of legal counsel (including counsel to the Seller or the Servicer), independent accountants and other experts selected by the Administrator. Each Purchaser Agent and the Administrator shall in all cases be fully
justified in failing or refusing to take any action under any Transaction Document unless it shall first receive such advice or concurrence of the Majority Purchaser Agents (or in the case of any Purchaser Agent, the Purchasers within its Purchaser
Group that have a majority of the aggregate Commitment of such Purchaser Group), and assurance of its indemnification, as it deems appropriate. 

(ii)    The Administrator shall in all cases be fully protected in acting, or in refraining from acting,
under this Agreement in accordance with a request of the Majority Purchaser Agents or the Purchaser Agents, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Purchasers, the Administrator and
Purchaser Agents. 
 (iii)    The Purchasers within each Purchaser Group with a majority of the
Commitment of such Purchaser Group shall be entitled to request or direct the related Purchaser Agent to take action, or refrain from taking action, under this Agreement on 

  
 38 

 
behalf of all of the Purchasers within such Purchaser Group. Each Purchaser Agent also shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement in
accordance with a request of the Majority Purchaser Agents, and such request and any action taken or failure to act pursuant thereto shall be binding upon all of such Purchaser Agent’s Purchasers. 

(iv)    Unless otherwise advised in writing by a Purchaser Agent or by any Purchaser on whose behalf such
Purchaser Agent is purportedly acting, each party to this Agreement may assume that (i) such Purchaser Agent is acting for the benefit of each of the Purchasers in respect of which such Purchaser Agent is identified as being the “Purchaser
Agent” in the definition of “Purchaser Agent” hereto, as well as for the benefit of each assignee or other transferee from any such Person, and (ii) each action taken by such Purchaser Agent has been duly authorized and approved
by all necessary action on the part of the Purchasers on whose behalf it is purportedly acting. Each Purchaser Agent and its Purchaser(s) shall agree amongst themselves as to the circumstances and procedures for removal, resignation and replacement
of such Purchaser Agent. Each Purchaser shall promptly notify the Seller, the Servicer and the Administrator in writing of any removal, resignation or replacement of such Purchaser’s Purchaser Agent. 

 

	 	(e)	Notice of Termination Events. Neither any Purchaser Agent nor the Administrator shall be deemed to have knowledge or notice of the occurrence of any Termination Event or Unmatured Termination Event unless such
Purchaser Agent or the Administrator, as applicable, has received notice from any Purchaser, Purchaser Agent, the Servicer, any Sub-Servicer or the Seller stating that a Termination Event or an Unmatured
Termination Event has occurred hereunder and describing such Termination Event or Unmatured Termination Event. In the event that the Administrator receives such a notice, it shall promptly give notice thereof to each Purchaser Agent whereupon each
such Purchaser Agent shall promptly give notice thereof to its related Purchasers. In the event that a Purchaser Agent receives such a notice (other than from the Administrator), it shall promptly give notice thereof to the Administrator. The
Administrator shall take such action concerning a Termination Event or an Unmatured Termination Event as may be directed by the Majority Purchaser Agents (unless such action otherwise requires the consent of all Purchasers, the LC Bank and/or the
Required LC Participants), but until the Administrator receives such directions, the Administrator may (but shall not be obligated to) take such action, or refrain from taking such action, as the Administrator deems advisable and in the best
interests of the Purchasers and the Purchaser Agents. 

  

	 	(f)	 Non-Reliance on Administrator, Purchaser Agents and Other
Purchasers. Each Purchaser expressly acknowledges that none of the Administrator, the Purchaser Agents nor any of their respective officers, directors, employees, agents,
attorneys-in-fact or Affiliates has made any representations or warranties to it and that no act by the Administrator, or any Purchaser Agent hereafter taken, including
any review of the affairs of the Seller, the Servicer, any Sub-Servicer, 

  
 39 

	 	
any Originator or any of their respective Affiliates, shall be deemed to constitute any representation or warranty by the Administrator or such Purchaser Agent, as applicable. Each Purchaser
represents and warrants to the Administrator and the Purchaser Agents that, independently and without reliance upon the Administrator, Purchaser Agents or any other Purchaser and based on such documents and information as it has deemed appropriate,
it has made and will continue to make its own appraisal of and investigation into the business, operations, property, prospects, financial and other conditions and creditworthiness of the Seller, the Servicer, the
Sub-Servicers, the Originators and the Receivables and its own decision to enter into this Agreement and to take, or omit, action under any Transaction Document. Except for items specifically required to be
delivered hereunder, the Administrator shall not have any duty or responsibility to provide any Purchaser Agent or any Purchaser with any information concerning the Seller, the Servicer, the Sub-Servicers, the
Originators or any of their Affiliates that comes into the possession of the Administrator or any of its officers, directors, employees, agents, attorneys-in-fact or
Affiliates. 

  

	 	(g)	Administrators and Affiliates. Each of the Purchasers, the Purchaser Agents and the Administrator and any of their respective Affiliates may extend credit to, accept deposits from and generally engage in any kind
of banking, trust, debt, entity or other business with the Seller, the Servicer, any Sub-Servicer, any Originator or any of their Affiliates. With respect to the acquisition of the Eligible Receivables
pursuant to this Agreement, each of the Purchaser Agents and the Administrator shall have the same rights and powers under this Agreement as any Purchaser and may exercise the same as though it were not such an agent, and the terms
“Purchaser” and “Purchasers” shall include, to the extent applicable, each of the Purchaser Agents and the Administrator in their individual capacities. 

 

	 	(h)	 Indemnification. Each LC Participant and Committed Purchaser shall indemnify and hold harmless the
Administrator (solely in its capacity as Administrator) and the LC Bank (solely in its capacity as LC Bank) and their respective officers, directors, employees, representatives and agents (to the extent not reimbursed by the Seller, the Servicer,
any Sub-Servicer or any Originator and without limiting the obligation of the Seller, the Servicer, any Sub-Servicer or any Originator to do so), ratably (based on its
Commitment) from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, settlements, costs, expenses or disbursements of any kind or nature whatsoever (including in connection with any investigative
or threatened proceeding, whether or not the Administrator, the LC Bank or such Person shall be designated a party thereto) that may at any time be imposed on, incurred by or asserted against the Administrator, the LC Bank or such Person as a result
of, or related to, any action taken or omitted by the Administrator or the LC Bank under the Transaction Documents, any of the transactions contemplated by the Transaction Documents or the execution, delivery or performance of the Transaction
Documents or any 

  
 40 

	 	
other document furnished in connection therewith (but excluding any such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, settlements, costs, expenses or
disbursements resulting solely from the gross negligence or willful misconduct of the Administrator, the LC Bank or such Person as determined by a final non-appealable judgment of a court of competent
jurisdiction). Without limiting the generality of the foregoing, each LC Participant agrees to reimburse the Administrator and the LC Bank, ratably according to its Pro Rata Share, promptly upon demand, for any out of pocket expenses (including
reasonable counsel fees) incurred by the Administrator or the LC Bank in connection with the administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of, its
rights and responsibilities under this Agreement. 

  

	 	(i)	Successor Administrator. The Administrator may, upon at least thirty (30) days’ notice to the Seller, the Servicer and each Purchaser Agent, resign as Administrator. Such resignation shall not become
effective until a successor Administrator is appointed by the Majority Purchaser Agents, with the consent of the Seller (which consent shall not be unreasonably withheld or delayed and which consent shall not be required if a Termination Event shall
have occurred and is continuing), and has accepted such appointment. Upon such acceptance of its appointment as Administrator hereunder by a successor Administrator, such successor Administrator shall succeed to and become vested with all the rights
and duties of the retiring Administrator, and the retiring Administrator shall be discharged from its duties and obligations under the Transaction Documents. After any retiring Administrator’s resignation hereunder, the provisions of
Sections 3.1 and 3.2 and this Section 4.7 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was the Administrator. 

 

	 	(j)	Security Interest Filings. Each of the Seller, the Purchaser Agents and the Purchasers expressly recognizes and agrees that the Administrator may be listed as the assignee or secured party of record on the
various UCC or PPSA filings required to be made hereunder in order to perfect the sale of the Purchased Assets from the Seller to the Purchasers, that such listing shall be for administrative convenience only in creating a record or nominee owner to
take certain actions hereunder on behalf of the Purchasers and that such listing will not affect in any way the status of the Purchasers as the owners of the Purchased Assets. In addition, such listing shall impose no duties on the Administrator
other than those expressly and specifically undertaken in accordance with this clause (j). 

 ARTICLE V. 

MISCELLANEOUS 

Section 5.1 Amendments, Etc. 
  

	 	(a)	 Subject to clause (b) of this Section, no amendment or waiver of any provision of this Agreement or any
other Transaction Document, or consent to any departure 

  
 41 

	 	
by the Seller, the Servicer or any Sub-Servicer therefrom, shall be effective unless in a writing signed by the Administrator, the LC Bank, the Majority
Purchaser Agents and the Majority LC Participants; provided, however, that no such amendment shall (i) decrease the outstanding amount of, or extend the repayment of or any scheduled payment date for the payment of, any Discount
in respect of any Portion of Capital or any Fees owed to a Purchaser without the prior written consent of such Purchaser; (ii) forgive or waive or otherwise excuse any repayment of Capital without the prior written consent of each Purchaser
affected thereby; (iii) increase the Commitment of any Purchaser without its prior written consent; (iv) amend or modify the Pro Rata Share of any LC Participant without its prior written consent; (v) amend or modify the provisions of
this Section 5.1 or the definition of “Majority Purchaser Agents”, “Majority LC Participants”, or “Required LC Participants” without the prior written consent of all Purchaser Agents, the LC
Bank and all LC Participants; (vi) [Reserved]; (vii) without the prior written consent of all Purchasers affected thereby, extend the Facility Termination Date or waive, amend or otherwise modify the definition of Facility Termination Date;
(viii) amend, modify or otherwise affect the rights or duties of the Administrator, any Purchaser Agent or the LC Bank hereunder without the prior written consent of the Administrator, such Purchaser Agent or the LC Bank, as the case may be;
and (ix) amend, waive or modify any definition or provision expressly requiring the consent of the Required LC Participants without the prior written consent of the LC Bank and the Required LC Participants, and, in the case of any amendment, by
the other parties thereto; and then such amendment, waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. No failure on the part of the Administrator, any Purchaser Agent or any Purchaser to
exercise, and no delay in exercising any right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right hereunder preclude any other or further exercise thereof or the exercise of any other right.

  

	 	(b)	At any time during the thirty (30) days following the date on which the Administrator completes its review of the results of an audit described in Section 5.4, Section 1(h) of
Exhibit IV to this Agreement or Section 2(f) of Exhibit IV to this Agreement (such audit, a “Field Examination”), the consent of the Seller, the Servicer or any
Sub-Servicer shall not be required for any amendment to the definitions of “Net Receivables Pool Balance”, “Eligible Receivables”, “Total Reserves”,
“Pre-Review Australian Contract”, “Permitted Australian Contract” or any of their components if such amendment is deemed necessary by the Administrator in its sole and reasonable discretion
after consultation with the Servicer in order to adjust such definitions and their components to meet the credit standards applied by the Administrator and the Purchasers when they entered into this Agreement in connection with any changes in the
composition or characteristics (including, without limitation, credit quality, dilution and loss experience, tenor and terms) of the Pool Receivables since the preceding Field Examination. The Administrator agrees to provide a copy of the final
results of the Field Examination to the Servicer within two (2) Business Days of its receipt thereof. 

  
 42 

 Section 5.2 Notices, Etc. 

All notices and other communications hereunder shall, unless otherwise stated herein, be in writing (including facsimile or electronic mail
communication) and shall be personally delivered or sent by facsimile or electronic mail, or by overnight mail, to the intended party at the mailing address, e-mail address or facsimile number of such party
set forth on Schedule VI hereto (or in any other document or agreement pursuant to which it is or became a party hereto), or at such other mailing address, e-mail address or facsimile number as shall be
designated by such party in a written notice to the other parties hereto. All such notices and communications shall be effective (i) if delivered by overnight mail, when received, and (ii) if transmitted by facsimile or electronic mail,
when sent, receipt confirmed by telephone or electronic means. 
 Section 5.3 Successors and Assigns; Assignability;
Participations. 
  

	 	(a)	Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Except as otherwise provided in Section 4.1(d),
neither the Seller nor the Servicer may assign or transfer any of its rights or delegate any of its duties hereunder or under any Transaction Document without the prior consent of the Administrator, the LC Bank, the Required LC Participants and the
Purchaser Agents. 

  

	 	(b)	 Participations. (i) Except as otherwise specifically provided herein, any Purchaser may sell to one
or more Persons (each a “Participant”) participating interests in the interests of such Purchaser hereunder. Such Purchaser shall remain solely responsible for performing its obligations hereunder, and the Seller, the Servicer, each
Purchaser Agent and the Administrator shall continue to deal solely and directly with such Purchaser in connection with such Purchaser’s rights and obligations hereunder. A Purchaser shall not agree with a Participant to restrict such
Purchaser’s right to agree to any amendment or waiver of this Agreement or any other Transaction Document, except such amendments or waivers that require the consent of all Purchasers; provided, that no such agreement between any
Purchaser and any such Participant shall be binding upon the other parties hereto. (ii) Notwithstanding anything contained in paragraph (a) or clause (i) of paragraph (b) of this
Section 5.3, each of the LC Bank and each LC Participant may sell participations in all or any part of any Investment made by such LC Participant to another bank or other entity so long as (i) no such sale of a
participation shall, without the consent of the Seller, require the Seller to file a registration statement with the SEC and (ii) no holder of any such participation shall be entitled to require such LC Participant to take or omit to take any
action hereunder except that such LC Participant may agree with such participant that, without such Participant’s consent, such LC Participant will not consent to an amendment, modification or waiver referred to in
Section 5.1. Any such Participant shall not have any rights hereunder or under the Transaction 

  
 43 

	 	
Documents. Each Purchaser that sells a participation shall, acting solely for this purpose as an agent of the Seller, maintain a register on which it enters the name and address of each
Participant and the Investments (and Discount, fees and other similar amounts under this Agreement) of each Participant’s interest in the interests of such Purchaser under the Transaction Documents (the “Participant Register”);
provided that no Purchaser shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any interest of a
Purchaser hereunder or other obligations under any Transaction Document) to any Person except to the extent that such disclosure is necessary to establish that such interest or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Purchaser shall treat each Person whose name is recorded in the
Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrator (in its capacity as the Administrator) shall have no responsibility
for maintaining a Participant Register. 

  

	 	(c)	 Assignments by Certain Committed Purchasers. Any Committed Purchaser may assign to one or more Persons
(each a “Purchasing Committed Purchaser”), reasonably acceptable to the Administrator, the LC Bank and the related Purchaser Agent in its sole discretion, any portion of its Commitment (which shall be inclusive of its Commitment as
an LC Participant) pursuant to a supplement hereto, substantially in the form of Annex G with any changes as are reasonably acceptable to the Administrator (each, a “Transfer Supplement”), executed by each such Purchasing
Committed Purchaser, such selling Committed Purchaser, such related Purchaser Agent and the Administrator and with the consent of the Seller (provided, that the consent of the Seller shall not be unreasonably withheld or delayed and that no
such consent shall be required if a Termination Event or Unmatured Termination Event has occurred and is continuing; provided, further, that no consent of the Seller shall be required if the assignment is made by any Committed
Purchaser to the Administrator, to any Purchaser Agent, to any other Committed Purchaser, to any Affiliate of the Administrator or any Committed Purchaser, to any Program Support Provider or any Person which (i) is in the business of issuing
commercial paper notes and (ii) is associated with or administered by the Administrator or any Affiliate of the Administrator). Any such assignment by Committed Purchaser may not be for an amount less than $10,000,000. Upon (i) the
execution of the Transfer Supplement, (ii) delivery of an executed copy thereof to the Seller, the Servicer, such related Purchaser Agent and the Administrator and (iii) payment by the Purchasing Committed Purchaser to the selling
Committed Purchaser of the agreed purchase price, if any, such selling Committed Purchaser shall be released from its obligations hereunder to the extent of such assignment and such Purchasing Committed Purchaser shall for all purposes be a
Committed Purchaser party hereto and shall have all the rights and obligations of a Committed Purchaser hereunder to the same extent as if it 

  
 44 

	 	
were an original party hereto. The amount of the Commitment of the selling Committed Purchaser allocable to such Purchasing Committed Purchaser shall be equal to the amount of the Commitment of
the selling Committed Purchaser transferred regardless of the purchase price, if any, paid therefor. 

  

	 	(d)	Assignments to Liquidity Banks and other Program Support Providers. Any Conduit Purchaser may at any time grant to one or more of its Liquidity Banks or other Program Support Providers, interests in its portion
of the Purchased Assets. In the event of any such grant by such Conduit Purchaser of an interest to a Liquidity Bank or other Program Support Provider, such Conduit Purchaser shall remain responsible for the performance of its obligations hereunder.
The Seller agrees that each Liquidity Bank and Program Support Provider of any Conduit Purchaser hereunder shall be entitled to the benefits of Sections 1.9 and 1.10. 

 

	 	(e)	Other Assignment by Conduit Purchasers. Each party hereto agrees and consents (i) to any Conduit Purchaser’s assignment, grant of security interests in or other transfers of any portion of its interest
in the Purchased Assets, including without limitation to any collateral agent in connection with its commercial paper program and (ii) to the complete assignment by any Conduit Purchaser of all of its rights and obligations hereunder to any
other Person, and upon such assignment such Conduit Purchaser shall be released from all obligations and duties, if any, hereunder; provided, that such Conduit Purchaser may not, without the prior consent of its Committed Purchasers, make any
such transfer of its rights hereunder unless the assignee (i) is principally engaged in the purchase of assets similar to the assets being purchased hereunder, (ii) has as its Purchaser Agent the Purchaser Agent of the assigning Conduit
Purchaser and (iii) issues commercial paper or other Notes with credit ratings substantially comparable to the ratings of the assigning Conduit Purchaser. Any assigning Conduit Purchaser shall deliver to any assignee a Transfer Supplement with
any changes as have been approved by the parties thereto, duly executed by such Conduit Purchaser, assigning any portion of its interest in the Purchased Assets to its assignee. Such Conduit Purchaser shall promptly (i) notify each of the other
parties hereto of such assignment and (ii) take all further action that the assignee reasonably requests in order to evidence the assignee’s right, title and interest in such interest in the Purchased Assets and to enable the assignee to
exercise or enforce any rights of such Conduit Purchaser hereunder. Upon the assignment of any portion of its interest in the Purchased Assets, the assignee shall have all of the rights hereunder with respect to such interest (except that the
Discount therefor shall thereafter accrue at the rates determined with respect to the assigning Conduit Purchaser unless the Seller, the related Purchaser Agent and the assignee shall have agreed upon a different Discount). 

 

	 	(f)	Opinions of Counsel. If required by the Administrator or the applicable Purchaser Agent, each Transfer Supplement or other assignment and acceptance agreement must be accompanied by an opinion of counsel of the
assignee as to such matters as the Administrator or such Purchaser Agent may reasonably request. 

  
 45 

	 	(g)	In addition to the foregoing and notwithstanding any otherwise applicable limitations on, or requirements for, pledges, assignments and participations set forth in this Section 5.3, any
Purchaser may pledge, participate or assign any of its rights (including, without limitation, rights to payment of Capital and Discount) under this Agreement or the other Transaction Documents to any Federal Reserve Bank (including any grant of a
security interest in such rights to secure such Purchaser’s obligations to such Federal Reserve Bank) without notice to or consent of any other party to this Agreement or to the other Transaction Documents; provided that no such pledge,
participation or assignment shall release such Purchaser from any of its obligations hereunder or substitute any such pledge, participant or assignee for such Purchaser as a party hereto. 

Section 5.4 Costs, Expenses and Taxes. 
  

	 	(a)	In addition to the rights of indemnification granted under Sections 1.21 and 3.1, the Seller agrees to pay on demand (which demand shall be accompanied by documentation thereof in reasonable detail) all
reasonable costs and expenses in connection with the preparation, execution, delivery and administration (including periodic internal audits by the Administrator of Pool Receivables, provided that at any time when no Termination Event exists
and is continuing, the Seller shall not be required to pay the costs and expenses of more than one such audit (or, at any time following the occurrence of a Minimum Cash Liquidity Event, two such audits) per year) of this Agreement, the other
Transaction Documents and the other documents and agreements (including the Confirmation Order and any other court filings in connection therewith) to be delivered hereunder (and all reasonable costs and expenses in connection with any amendment,
waiver or modification of any thereof), including: (i) Attorney Costs for the Administrator, the Purchaser Agents, the Purchasers and their respective Affiliates and agents with respect thereto and with respect to advising the Administrator,
the Purchaser Agents, the Purchasers and their respective Affiliates and agents as to their rights and remedies under this Agreement and the other Transaction Documents, (ii) fees, costs and expenses payable by the Conduit Purchasers or their
Affiliates to any nationally recognized statistical rating agency in connection with the transactions contemplated by the Transaction Documents and (iii) all reasonable costs and expenses (including Attorney Costs), if any, of the
Administrator, the Purchaser Agents, the Purchasers and their respective Affiliates and agents in connection with the enforcement of this Agreement and the other Transaction Documents. 

 

	 	(b)	

 (i)    The Seller agrees that any and all payments by the Seller under
this Agreement shall be made free and clear of and without deduction for any and all current or future taxes, stamp or other taxes, levies, imposts, deductions, charges or withholdings, and all penalties, interest and other liabilities with respect
thereto (collectively, “Taxes”), except as required by Applicable Law. If the Seller shall be required by Applicable Law to withhold or 

  
 46 

 
deduct any Taxes from or in respect of any sum payable hereunder to any Recipient (as determined in the good faith discretion of the Seller or the Administrator) and such Tax is an Indemnified
Tax, then the sum payable shall be increased by the amount necessary to yield to such Recipient (after payment of all Taxes) an amount equal to the sum it would have received had no such withholding or deductions been made. Whenever any such Taxes
are payable by the Seller, the Seller agrees that, as promptly as possible thereafter, the Seller shall send to the Administrator for its own account or for the account of any Purchaser or Purchaser Agent a certified copy of an original official
receipt showing payment thereof or such other evidence of such payment as may be available to the Seller and acceptable to the taxing authorities having jurisdiction over such Recipient. If any such Recipient pays or is liable for any Indemnified
Taxes, the Seller shall reimburse such Recipient for that payment or indemnify such Recipient for such liability, as applicable (increased in either case by Indemnified Taxes imposed or asserted on or attributable to amounts payable under this
Section), within 10 days after demand therefor, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant tax authority. A certificate as to the amount of such payment or liability delivered to the Seller by
a Purchaser or Purchaser Agent (with a copy to the Administrator), or by the Administrator on its own behalf or on behalf of a Purchaser or Purchaser Agent, shall be conclusive absent manifest error. If the Seller fails to pay any Taxes when due to
the appropriate taxing authority or fails to remit to the Administrator the required receipts or other required documentary evidence, the Seller shall indemnify the Administrator and/or any other Affected Person, as applicable, for any Indemnified
Taxes that may become payable by such party as a result of any such failure. 
 (ii)     Any Recipient that is entitled
to an exemption from or reduction of withholding Tax with respect to payments made under any Transaction Document shall deliver to the Servicer (on behalf of the Seller), at the time or times reasonably requested by the Seller or the Administrator
and at the time or times required by Applicable Law, such properly completed and executed documentation reasonably requested by the Servicer as will permit such payments to be made without withholding or at a reduced rate of withholding. In
addition, any Recipient, if reasonably requested by the Servicer, shall deliver such other documentation prescribed by Applicable Law or reasonably requested by such Recipient as will enable the Servicer to determine whether or not such Recipient is
subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in
Section 5.4(b)(ii)(A), (B) and (D)) shall not be required if in the Recipient’s reasonable judgment such completion, execution or submission would subject such Recipient to any material unreimbursed cost or expense or would
materially prejudice the legal or commercial position of such Recipient. Without limiting the generality of the foregoing, 

(A)    any Recipient that is a “United States Person” within the meaning of Section 7701(a)(30) of the Internal
Revenue Code shall deliver to the Servicer and the Administrator on or prior to the date on which such Purchaser becomes a Purchaser under this Agreement (and from time to time thereafter upon the reasonable request of the Servicer or the
Administrator and at the time or times required by Applicable Law), executed copies of IRS Form W-9 certifying that such Recipient is exempt from U.S. federal backup withholding tax; 

  
 47 

 (B)     any Recipient that is not a “United States Person” within
the meaning of Section 7701(a)(30) of the Internal Revenue Code shall, to the extent it is legally entitled to do so, deliver to the Servicer and the Administrator (in such number of copies as shall be requested by the recipient) on or prior to the
date on which such Recipient becomes a party to this Agreement (and from time to time thereafter upon the reasonable request of the Seller or the Administrator and at the time or times required by Applicable Law), 

(1)    in the case of a Recipient claiming the benefits of an income tax treaty to which the United States is a party
(x) with respect to payments of interest under any Transaction Document, executed copies of IRS Form W-8BEN or W-8BEN-E, as
applicable, establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Transaction Document, IRS
Form W-8BEN or W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to
the “business profits” or “other income” article of such tax treaty; 
 (2)    executed copies of
IRS Form W-8ECI; 
 (3)    in the case of a Recipient claiming the benefits of
the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate to the effect that such Recipient is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent
shareholder” of Peabody within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code and (y) executed copies of IRS Form W-8BEN or W-8BEN-E, as applicable; or 

(4)    to the extent a Recipient is not the beneficial owner, executed copies of IRS Form
W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN or
W-8BEN-E, as applicable, certifications as to the matters in Section 5.4(b)(ii)(B)(3) on its own behalf and on behalf of its direct or indirect partners claiming
the portfolio interest exemption, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; 

(C)     any Recipient shall, to the extent it is legally entitled to do so, deliver to the Seller and the Administrator
(in such number of copies as shall be requested by the recipient) on or prior to the date on which such Recipient becomes a party to this Agreement (and from time to time thereafter upon the reasonable request of the Seller or the Administrator and
at the time or times required by Applicable Law), executed copies of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary
documentation as may be prescribed by applicable law to permit the Servicer or the Administrator to determine the withholding or deduction required to be made; and 

(D)     if a payment made to a Recipient under any Transaction Document would be subject to U.S. federal withholding Tax
imposed by FATCA if such Recipient were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such

  
 48 

 
Recipient shall deliver to the Servicer and the Administrator at the time or times prescribed by Applicable Law and at such time or times reasonably requested by the Servicer or the Administrator
such documentation prescribed by Applicable Law (including as prescribed by Section 1471(b)(3)(C)(i) of the Internal Revenue Code) and such additional documentation reasonably requested by the Seller or the Administrator as may be necessary for the
Seller and the Administrator to comply with their obligations under FATCA and to determine that such Recipient has complied with such Recipient’s obligations under FATCA or to determine the amount to deduct and withhold from such payment.
Solely for purposes of this Section 5.4(b)(ii)(D), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. For purposes of determining withholding Taxes imposed under FATCA, from and after the Closing
Date, the Seller and the Administrator shall treat (and the Purchasers hereby authorize the Administrator to treat) this Agreement as not qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i). 
 (E)    Each Recipient agrees that if any form or certification
it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Seller and the Administrator in writing of its legal inability to do so. 

(iii)    The Seller shall pay on demand any and all stamp and other taxes and fees payable in connection with the
execution, delivery, filing and recording of this Agreement or the other documents or agreements to be delivered hereunder, and shall save each Indemnified Party harmless from and against any liabilities with respect to or resulting from any delay
in paying or omission to pay such taxes and fees. 
 (iv)    If any party determines, in its sole discretion exercised
in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section 5.4(b) (including by the payment of additional amounts pursuant to this Section 5.4(b)), it shall pay to the
indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section 5.4(b) with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant taxing authority with respect to such refund). Such indemnifying party,
upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this Section 5.4(b)(iii) (plus any penalties, interest or other charges imposed by the relevant taxing authority) in the event
that such indemnified party is required to repay such refund to such taxing authority. Notwithstanding anything to the contrary in this Section 5.4(b)(iii), in no event will the indemnified party be required to pay any amount to an
indemnifying party pursuant to this Section 5.4(b)(iii) the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if
the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This paragraph shall not be
construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person. 

  
 49 

 (v)    If any Recipient requests compensation under
Section 1.10, or requires the Seller to pay any Indemnified Taxes or additional amounts to any Recipient or any taxing authority for the account of any Recipient pursuant to this Section 5.4(b), then such Recipient
shall (at the request of the Seller) use reasonable efforts to designate a different lending office for funding or booking its Investments hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates,
if, in the judgment of such Recipient, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 1.10 or this Section 5.4(b), as the case may be, in the future, and
(ii) would not subject such Purchaser to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Recipient. The Seller hereby agrees to pay all reasonable costs and expenses incurred by any Purchaser in connection
with any such designation or assignment. 
 (vi)    The Administrator, on Seller’s behalf, shall maintain a
register for the recordation of the names and addresses of the Purchasers, and the Investments (and Discount, fees and other similar amounts under this Agreement) pursuant to the terms hereof from time to time (the “Register”),
including any participant and/or assignee. The entries in the Register shall be conclusive absent manifest error, and to the extent applicable, the parties hereto shall treat each person whose name is recorded in the Register pursuant to the terms
hereof as a lender solely for U.S. federal income tax purposes. The Register shall be available for inspection by the Purchaser, from time to time upon reasonable prior notice. 

Section 5.5 No Proceedings; Limitation on Payments. 

Each of the Seller, Peabody, the Servicer, the Administrator, each Purchaser Agent, the Purchasers and each assignee of the Purchased Assets or
any interest therein, and each Person that enters into a commitment to purchase or make Investments in the Purchased Assets or any interest therein, hereby covenants and agrees that it will not institute against, or join any other Person in
instituting against, any Conduit Purchaser any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other proceeding under any federal or state bankruptcy or similar law, for one year and one day after the latest
maturing Note issued by such Conduit Purchaser is paid in full. The provision of this Section 5.5 shall survive any termination of this Agreement. 

Section 5.6 Confidentiality. 

Each of the Seller and the Servicer agrees to maintain the confidentiality of this Agreement and the other Transaction Documents (and all
drafts thereof) in communications with third parties and otherwise; provided, that this Agreement and the other Transaction Documents may be disclosed to: (a) third parties to the extent such disclosure is made pursuant to a written
agreement of confidentiality in form and substance reasonably satisfactory to the Administrator, (b) the Seller’s legal counsel and auditors if they agree to hold it confidential, and (c) as otherwise required by Applicable Law
(including applicable SEC requirements); and provided, further, however, that the Seller and the Servicer may disclose this Agreement and the other Transaction Documents (other than the Fee Letters or any such Transaction
Document that discloses the Fees) to other financial institutions and their affiliates in connection with a replacement of the receivables securitization facility represented by this Agreement and the other

  
 50 

 
Transaction Documents with a new receivables securitization facility. The Seller and the Servicer shall cause any financial institution and its affiliates described in the foregoing
proviso to maintain the confidentiality of the Transaction Documents in accordance with the Seller’s and the Servicer’s obligations under this Section 5.6; provided, however, that any such financial
institution and its affiliates may disclose this Agreement and the other Transaction Documents it receives in accordance with the immediately preceding sentence to their legal counsel and auditors if they agree to hold them confidential and to any
regulatory authorities having jurisdiction over such financial institution or its affiliates. Unless otherwise required by Applicable Law, each of the Administrator, the Purchaser Agents and the Purchasers agrees to maintain the confidentiality of non-public financial information regarding Peabody and its Subsidiaries and Affiliates; provided, that such information may be disclosed to: (i) third parties to the extent such disclosure is made
pursuant to a written agreement of confidentiality in form and substance reasonably satisfactory to Peabody, (ii) legal counsel and auditors of the Administrator, the Purchaser Agents and the Purchasers if they agree to hold it confidential,
(iii) the rating agencies rating the Notes, (iv) any Program Support Provider or potential Program Support Provider (if they agree to hold it confidential), (v) any placement agent placing the Notes (if they agree to hold it
confidential) and (vi) any regulatory authorities having jurisdiction over PNC, any Purchaser Agent, any Purchaser or any Program Support Provider. 

Section 5.7 GOVERNING LAW AND JURISDICTION. 
  

	 	(a)	THIS AGREEMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK) EXCEPT TO THE EXTENT THAT THE VALIDITY OR PERFECTION OF A SECURITY INTEREST OR REMEDIES HEREUNDER, IN RESPECT OF ANY PARTICULAR COLLATERAL ARE GOVERNED
BY THE LAWS OF A JURISDICTION OTHER THAN THE STATE OF NEW YORK. 

  

	 	(b)	ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK; AND, BY EXECUTION AND DELIVERY OF THIS
AGREEMENT, EACH OF THE PARTIES HERETO CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES, TO THE MAXIMUM
EXTENT PERMITTED BY LAW, ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, THAT IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF
THIS AGREEMENT OR ANY DOCUMENT RELATED HERETO. EACH OF THE PARTIES HERETO WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER PROCESS, WHICH SERVICE MAY BE MADE BY ANY OTHER MEANS PERMITTED BY NEW YORK LAW. 

  
 51 

 Section 5.8 Execution in Counterparts. 

This Agreement may be executed in any number of counterparts, each of which, when so executed, shall be deemed to be an original, and all of
which, when taken together, shall constitute one and the same agreement. 
 Section 5.9 Survival of Termination; Non-Waiver. 
 The provisions of Sections 1.9, 1.10, 1.21,
1.22, 3.1, 3.2, 4.7, 5.4, 5.5, 5.6, 5.7, 5.10 and 5.14 shall survive any termination of this Agreement. 

Section 5.10 WAIVER OF JURY TRIAL. 

EACH OF THE PARTIES HERETO WAIVES THEIR RESPECTIVE RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF OR
RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE BROUGHT BY ANY OF THE PARTIES AGAINST ANY OTHER PARTY OR PARTIES, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS OR
OTHERWISE. EACH OF THE PARTIES HERETO AGREES THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING, EACH OF THE PARTIES HERETO FURTHER AGREES THAT ITS RESPECTIVE RIGHT TO A TRIAL BY
JURY IS WAIVED BY OPERATION OF THIS SECTION AS TO ANY ACTION, COUNTERCLAIM OR OTHER PROCEEDING THAT SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS AGREEMENT OR ANY PROVISION HEREOF. THIS WAIVER SHALL APPLY TO ANY
SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT. 
 Section 5.11 Entire Agreement. 

This Agreement and the other Transaction Documents embody the entire agreement and understanding between the parties hereto, and supersede all
prior or contemporaneous agreements and understandings of such Persons, verbal or written, relating to the subject matter hereof and thereof. 

Section 5.12 Headings. 

The captions and headings of this Agreement and any Exhibit, Schedule or Annex hereto are for convenience of reference only and shall not
affect the interpretation hereof or thereof. 

  
 52 

 Section 5.13 Sharing of Recoveries. 

Each Purchaser agrees that if it receives any recovery, through set-off, judicial action or otherwise,
on any amount payable or recoverable hereunder in a greater proportion than should have been received hereunder or otherwise inconsistent with the provisions hereof (including, without limitation, Section 1.8(a) hereof), then the recipient of
such recovery shall purchase for cash an interest in amounts owing to the other Purchasers (as return of Capital or otherwise), without representation or warranty except for the representation and warranty that such interest is being sold by each
such other Purchaser free and clear of any Adverse Claim created or granted by such other Purchaser, in the amount necessary to create proportional participation by the Purchaser in such recovery. If all or any portion of such amount is thereafter
recovered from the recipient, such purchase shall be rescinded and the purchase price restored to the extent of such recovery, but without interest. 

Section 5.14 Purchaser Groups’ Liabilities. 

The obligations of each Purchaser Agent and each Purchaser under the Transaction Documents are solely the corporate obligations of such Person.
Except with respect to any claim arising out of the willful misconduct or gross negligence of the Administrator, any Purchaser Agent or any Purchaser, no claim may be made by the Seller or the Servicer or any other Person against the Administrator,
any Purchaser Agent or any Purchaser or their respective Affiliates, directors, officers, employees, attorneys or agents for any special, indirect, consequential or punitive damages in respect of any claim for breach of contract or any other theory
of liability arising out of or related to the transactions contemplated by this Agreement or any other Transaction Document or any act, omission or event occurring in connection therewith; and each of Seller and Servicer hereby waives, releases, and
agrees not to sue upon any claim for any such damages, whether or not accrued and whether or not known or suspected to exist in its favor. 

Section 5.15 Right of Setoff. 

Each Purchaser is hereby authorized (in addition to any other rights it may have) to setoff, appropriate and apply (without presentment,
demand, protest or other notice which are hereby expressly waived) any deposits and any other indebtedness held or owing by such Purchaser (including by any branches or agencies of such Purchaser) to, or for the account of, (i) the Seller
against amounts owing by the Seller hereunder (even if contingent or unmatured) and (ii) the Servicer against amounts owing by the Servicer hereunder (even if contingent or unmatured). 

Section 5.16 USA Patriot Act. 

Each of the Administrator and each of the other Purchasers hereby notifies the Seller, the Servicer and each
Sub-Servicer that pursuant to the requirements of the USA Patriot Act, the Administrator and the other Purchasers may be required to obtain, verify and record information that identifies the Seller, the
Originators, the Contributor, the Servicer, the Sub-Servicer and the Performance Guarantor, which information includes the name, address, tax identification number and other information regarding the Seller,
the Originators, the Contributor, the Servicer, the 

  
 53 

 
Sub-Servicer and the Performance Guarantor that will allow the Administrator, the Purchaser Agents and the other Purchasers to identify the Seller, the
Originators, the Contributor, the Servicer, the Sub-Servicer and the Performance Guarantor in accordance with the USA Patriot Act. This notice is given in accordance with the requirements of the USA Patriot
Act. Each of the Seller, the Servicer and Sub-Servicers agrees to provide the Administrator and each other Purchaser, from time to time, with all documentation and other information required by bank regulatory
authorities under “know your customer” and anti-money laundering rules and regulations, including, without limitation, the USA Patriot Act. 

Section 5.17 Severability. 

Any provisions of this Agreement which are prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to
the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other
jurisdiction. 
 Section 5.18 Mutual Negotiations. 

This Agreement and the other Transaction Documents are the product of mutual negotiations by the parties thereto and their counsel, and no
party shall be deemed the draftsperson of this Agreement or any other Transaction Document or any provision hereof or thereof or to have provided the same. Accordingly, in the event of any inconsistency or ambiguity of any provision of this
Agreement or any other Transaction Document, such inconsistency or ambiguity shall not be interpreted against any party because of such party’s involvement in the drafting thereof. 

Section 5.19 Currency. 

Each reference in this Agreement to U.S. Dollars or to Australian Dollars (the “relevant currency”) is of the essence. To the
fullest extent permitted by law, the obligation of the Seller in respect of any amount due in the relevant currency under this Agreement shall, notwithstanding any payment in any other currency (whether pursuant to a judgment or otherwise), be
discharged only to the extent of the amount in the relevant currency that the Administrator or any Purchaser entitled to receive such payment may, in accordance with normal banking procedures, purchase with the sum paid in such other currency (after
any premium and costs of exchange) on the Business Day immediately following the day on which such party receives such payment. If the amount in the relevant currency so purchased for any reason falls short of the amount originally due in the
relevant currency, the Seller shall pay such additional amounts, in the relevant currency, as may be necessary to compensate for the shortfall. Any obligations of the Seller not discharged by such payment shall, to the fullest extent permitted by
Applicable Law, be due as a separate and independent obligation and, until discharged as provided herein, shall continue in full force and effect. 

  
 54 

 Section 5.20 Currency Equivalence.  

If for the purposes of obtaining judgment in any court it is necessary to convert a sum due from the Seller on the Seller’s obligations in
the currency expressed to be payable herein (the “specified currency”) into another currency, the parties agree that the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrator
could purchase the specified currency with such other currency on the Business Day preceding that on which final judgment is given. The obligation of the Seller in respect of any such sum due to the Administrator or any Purchaser on the
Seller’s obligations shall, notwithstanding any judgment in a currency other than the specified currency, be discharged only to the extent that on the Business Day following receipt by the Administrator or such Purchaser, as applicable, of any
sum adjudged to be so due in such other currency, the Administrator or such Purchaser, as applicable, may in accordance with normal banking procedures purchase the specified currency with such other currency. If the amount of the specified currency
so purchased is less than the sum originally due to the Administrator or such Purchaser in the specified currency, the Seller agrees to the extent such amount was originally due from the Seller, as a separate obligation and notwithstanding any such
judgment, to indemnify the Administrator or such Purchaser, as the case may be, against such loss, and if the amount of the specified currency so purchased exceeds the amount originally due to the Administrator or such Purchaser in the specified
currency, the Administrator or such Purchaser, as the case may be, agrees to remit such excess to the Seller. 
 Section 5.21
Post-Closing Covenant.  
 (a) Notwithstanding the requirements set forth in Sections 1(g) and
1(j) of Exhibit III of this Agreement and Sections 1(j) and 2(h) of Exhibit IV of this Agreement, the Servicer shall (i) on or prior to the 60th day after
the Closing Date (or such later day as agreed to in writing by the Administrator) either: (A) (x) transfer ownership of deposit account listed in Schedule II(c) (such account, the “New NAB
Lock-Box Account”) to the Seller and (y) cease making or permitting payments to be made from the New NAB Lock-Box Account other than in accordance with the
Transaction Documents or (B) direct Obligors to cease remitting payments to the New NAB Lock-Box Account and begin remitting payments to another Lock-Box Account
and (ii) on or prior to the 120th day after the Closing Date (or such later day as agreed to in writing by the Administrator), either: (A) (x) deliver to the Administrator a duly
executed Lock-Box Agreement entered into with National Australia Bank Limited as Lock-Box Bank, relating to the New NAB Lock-Box
Account reasonably satisfactory to the Administrator, and (y) deliver to the Administrator an updated Schedule II hereto or (B) direct Obligors to cease remitting payments to the New NAB
Lock-Box Account and begin remitting payments to another Lock-Box Account. 

(b) Notwithstanding the requirements set forth in Sections 1(g) and 1(j) of Exhibit III of this Agreement
and Sections 1(j) and 2(h) of Exhibit IV of this Agreement, the Servicer shall (i) on or prior to the 60th day after the Closing Date (or such later day as agreed to in
writing by the Administrator) either: (A) (x) transfer ownership of the deposit accounts listed on Schedule II(b) (such account, the “New BOA Lock-Box Account”) to the Seller and
(y) cease making or permitting payments to be made from the 

  
 55 

 
New BOA Lock-Box Account other than in accordance with the Transaction Documents or (B) direct Obligors to cease remitting payments to the New BOA Lock-Box Account and begin remitting payments to another Lock-Box Account and (ii) on or prior to the 120th day after
the Closing Date (or such later day as agreed to in writing by the Administrator), either: (A) (x) deliver to the Administrator a duly executed Lock-Box Agreement entered into with Bank of America, N.A.
as Lock-Box Bank, relating to the New BOA Lock-Box Account reasonably satisfactory to the Administrator, and (y) deliver to the Administrator an updated Schedule
II hereto or (B) direct Obligors to cease remitting payments to the New BOA Lock-Box Account and begin remitting payments to another Lock-Box Account. 

(c) Notwithstanding the requirements set forth in Sections 1(j) and 2(h) of Exhibit IV of this Agreement,
the Servicer shall on or prior to the 30th day after the Closing Date (or such later day as agreed to in writing by the Administrator) instruct all Persons to cease making payments of amounts that
do not constitute Collections to Lock-Box Accounts. 
 (d) The Servicer shall on or
prior to the 90th day after the Closing Date (or such later day as agreed in writing by the Administrator) (the “CMJV Acknowledgment End Date”) deliver to the Administrator a duly
executed acknowledgment substantially in the form agreed with the Administrator on or prior to the Closing Date (the “CMJV Acknowledgment”) and the Administrator shall have confirmed its receipt of such CMJV Acknowledgement in
writing; provided, that, if such acknowledgment is not substantially in the form agreed upon with the Administrator prior to the Closing Date, the Administrator shall have confirmed its acceptance of such acknowledgment in writing.
Notwithstanding anything in this Agreement to the contrary, in the event that the Servicer does not deliver the CMJV Acknowledgment or the Administrator does not confirm its receipt or acceptance, as applicable, of such CMJV Acknowledgment by the
CMJV Acknowledgment End Date, each Pool Receivable originated by Peabody Coppabella from and after the CMJV Acknowledgment End Date shall not be considered an Eligible Receivable notwithstanding such Pool Receivable meets the definition of
“Eligible Receivable”. For the avoidance of doubt, all Pool Receivables originated by Peabody Coppabella from the Closing Date to the CMJV Acknowledgment End Date that meet the criteria for Eligible Receivable shall be considered Eligible
Receivables. 
 (e) Failure by the Servicer to timely satisfy the conditions set forth in clauses (a), (b) or
(c) above shall constitute a breach of a covenant by the Servicer under this Agreement. 
 [REMAINDER OF PAGE INTENTIONALLY
LEFT BLANK] 

  
 56 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their
respective officers thereunto duly authorized, as of the date first above written. 
  

					
	THE SELLER:
		
		 	 P&L RECEIVABLES COMPANY, LLC,

as Seller

			
		 	By:	 	 /s/ James A. Tichenor

		 	Name:	 	James A. Tichenor
		 	Title:	 	Vice President & Treasurer
	
	THE SERVICER:
		
		 	 PEABODY ENERGY CORPORATION,
 as
initial Servicer

			
		 	 By:
	 	 /s/ Walter L. Hawkins, Jr.

		 	 Name:
	 	 Walter L. Hawkins, Jr.

		 	 Title:
	 	Senior Vice President, Finance

  

			
	S-1
	 Amended and Restated

Receivables Purchase Agreement

							
	THE SUB-SERVICERS:
		
		 	COALSALES II, LLC 
		 	PEABODY ARCLAR MINING, LLC 
		 	PEABODY BEAR RUN MINING, LLC 
		 	PEABODY CABALLO MINING, LLC 
		 	PEABODY COALSALES, LLC 
		 	PEABODY COALTRADE, LLC 
		 	PEABODY GATEWAY NORTH MINING, LLC 
		 	PEABODY HOLDING COMPANY, LLC 
		 	PEABODY MIDWEST MINING, LLC 
		 	PEABODY POWDER RIVER MINING, LLC 
		 	PEABODY WILD BOAR MINING, LLC 
		 	TWENTYMILE COAL, LLC 
			
		 	By:	 	 /s/ Walter L. Hawkins, Jr.

		 		 	Name:	 	Walter L. Hawkins, Jr.
		 		 	Title:	 	Senior Vice President, Finance
		
		 	PEABODY WESTERN COAL COMPANY
			
		 	By:	 	 /s/ Robert F. Bruer

		 		 	Name:	 	Robert F. Bruer
		 		 	Title:	 	Vice President

  

			
	S-2
	 Amended and Restated

Receivables Purchase Agreement

					
	Signed for and on behalf of Millennium Coal Pty Ltd ACN 089 566 021 by its attorney under a power of attorney dated 24 March 2017 in the presence of:	 		 	
			
	 /s/ Patrick Charles Cranley
	 		 	 /s/ Maria da Conceicao da Silva de Santana

	Signature of witness	 		 	Signature of attorney who declares that the attorney has not received any notice of the revocation of the power of attorney
			
	 Patrick Charles Cranley
	 		 	 Maria da Conceicao da Silva de Santana

	Full name of witness	 		 	Full name of attorney
			
	Signed for and on behalf of Peabody (Bowen) Pty Ltd ACN 010 879 526 by its attorney under a power of attorney dated 24 March 2017 in the presence of:	 		 	
			
	 /s/ Patrick Charles Cranley
	 		 	 /s/ Maria da Conceicao da Silva de Santana

	Signature of witness	 		 	Signature of attorney who declares that the attorney has not received any notice of the revocation of the power of attorney
			
	 Patrick Charles Cranley
	 		 	 Maria da Conceicao da Silva de Santana

	Full name of witness	 		 	Full name of attorney
			
	Signed for and on behalf of Peabody COALSALES Pacific Pty Ltd ACN 146 797 408 by its attorney under a power of attorney dated 24 March 2017 in the presence of:	 		 	
			
	 /s/ Patrick Charles Cranley
	 		 	 /s/ Maria da Conceicao da Silva de Santana

	Signature of witness	 		 	Signature of attorney who declares that the attorney has not received any notice of the revocation of the power of attorney
			
	 Patrick Charles Cranley
	 		 	 Maria da Conceicao da Silva de Santana

	Full name of witness	 		 	Full name of attorney

  

			
	S-3
	 Amended and Restated

Receivables Purchase Agreement

					
	Signed for and on behalf of Peabody Coppabella Pty Ltd ACN 095 976 042 by its attorney under a power of attorney dated 24 March 2017 in the presence of:	 		 	
			
	 /s/ Patrick Charles Cranley
	 		 	 /s/ Maria da Conceicao da Silva de Santana

	Signature of witness	 		 	Signature of attorney who declares that the attorney has not received any notice of the revocation of the power of attorney
			
	 Patrick Charles Cranley
	 		 	 Maria da Conceicao da Silva de Santana

	Full name of witness	 		 	Full name of attorney
			
	Signed for and on behalf of Wambo Coal Pty Ltd ACN 000 668 057 by its attorney under a power of attorney dated 24 March 2017 in the presence of:	 		 	
			
	 /s/ Patrick Charles Cranley
	 		 	 /s/ Maria da Conceicao da Silva de Santana

	Signature of witness	 		 	Signature of attorney who declares that the attorney has not received any notice of the revocation of the power of attorney
			
	 Patrick Charles Cranley
	 		 	 Maria da Conceicao da Silva de Santana

	Full name of witness	 		 	Full name of attorney
			
	Signed for and on behalf of Wilpinjong Coal Pty Ltd ACN 104 594 057 by its attorney under a power of attorney dated 24 March 2017 in the presence of:	 		 	
			
	 /s/ Patrick Charles Cranley
	 		 	 /s/ Maria da Conceicao da Silva de Santana

	Signature of witness	 		 	Signature of attorney who declares that the attorney has not received any notice of the revocation of the power of attorney
			
	 Patrick Charles Cranley
	 		 	 Maria da Conceicao da Silva de Santana

	Full name of witness	 		 	Full name of attorney

  

			
	S-4
	 Amended and Restated

Receivables Purchase Agreement

 
					
	PNC’S PURCHASER GROUP:
		
		 	 PNC BANK, NATIONAL ASSOCIATION,
 as
Purchaser Agent for its Purchaser Group and as Committed Purchaser

			
		 	By:	 	 /s/ Michael Brown

		 	Name:	 	Michael Brown
		 	Title:	 	Senior Vice President

  

			
	S-5
	 Amended and Restated

Receivables Purchase Agreement

			
	 PNC BANK, NATIONAL ASSOCIATION,
 as
an LC Participant for its Purchaser Group and as the LC Bank

		
	By:	 	 /s/ Michael Brown

	Name:	 	Michael Brown
	Title:	 	Senior Vice President

  

			
	S-6
	 Amended and Restated

Receivables Purchase Agreement

					
	THE ADMINISTRATOR:
		
		 	 PNC BANK, NATIONAL ASSOCIATION,
 as
Administrator

			
		 	By:	 	 /s/ Michael Brown

		 	Name:	 	Michael Brown
		 	Title:	 	Senior Vice President

  

			
	S-7
	 Amended and Restated

Receivables Purchase Agreement

 EXHIBIT I 

DEFINITIONS 
 As used in
the Agreement (including its Exhibits, Schedules and Annexes), the following terms shall have the following meanings (such meanings to be equally applicable to both the singular and plural forms of the terms defined). Unless otherwise indicated, all
Section, Annex, Exhibit and Schedule references in this Exhibit are to Sections of and Annexes, Exhibits and Schedules to the Agreement. 

“Adjusted Australian Dollar LC Participation Amount” means, at any time of determination, the greater of (i) the
Australian Dollar LC Participation Amount less the amount of cash collateral denominated in Australian Dollars held in an LC Collateral Account at such time and (ii) zero (AUD 0). 

“Adjusted Cash Liquidity” means the excess, if any, of (i) Cash Liquidity, over (ii) Qualifying One-Time Sales Proceeds. 
 “Adjusted U.S. Dollar LC Participation
Amount” means, at any time of determination, the greater of (i) the U.S. Dollar LC Participation Amount less the amount of cash collateral denominated in U.S. Dollars held in an LC Collateral Account at such time and
(ii) zero ($0). 
 “Administration Account” means the account from time to time designated in writing by the
Administrator to the Seller and the Servicer. 
 “Administrator” has the meaning set forth in the preamble to the
Agreement. 
 “Adverse Claim” means a lien, security interest or other charge or encumbrance, or any other type of
preferential arrangement other than Permitted Liens. 
 “Affected Person” has the meaning set forth in
Section 1.9 of the Agreement. 
 “Affiliate” means, as to any Person: (a) any Person that,
directly or indirectly, is in control of, is controlled by or is under common control with such Person, or (b) who is a director or officer: (i) of such Person or (ii) of any Person described in clause (a), except that, with
respect to each Conduit Purchaser, Affiliate shall mean the holder(s) of its capital stock or membership interests, as the case may be. For purposes of this definition, control of a Person shall mean the power, direct or indirect: (x) to vote
25% or more of the securities having ordinary voting power for the election of directors or managers of such Person, or (y) to direct or cause the direction of the management and policies of such Person, in either case whether by ownership of
securities, contract, proxy or otherwise. 
 “Affiliate Excluded Receivable” means each Receivable (determined without
regard to the proviso to the definition thereof), the Obligor of which is any member of the Peabody Group. 
 “Aggregate Adjusted LC
Participation Amount” means, at any time, the greater of (i) the Aggregate LC Participation Amount less the U.S. Dollar Equivalent of all cash collateral held in the LC Collateral Accounts at such time and (ii) zero ($0).

  
 I-1 

 “Aggregate Capital” means at any time the aggregate outstanding Capital of all
Purchasers at such time. 
 “Aggregate Discount” at any time, means the sum of the aggregate for each Purchaser of the
accrued and unpaid Discount with respect to each such Purchaser’s Capital at such time. 
 “Aggregate LC Participation
Amount” means, at any time of determination, the aggregate U.S. Dollar Equivalent of all LC Participation Amounts at such time. 

“Agreement” has the meaning set forth in the preamble to the Agreement. 

“Alternate Rate” for any day or for any Portion of Capital on such day means an interest rate per annum equal to:
(a) except as otherwise provided in clause (b) below and in the proviso to this definition, the Euro-Rate for such day or (b) when required pursuant to Section 1.11, the Base Rate in effect on such
day; provided, that the “Alternate Rate” for any day while a Termination Event exists shall be an interest rate equal to the greater of (i) 3.00% per annum above the Base Rate in effect on such day and (ii) the Euro-Rate on
such day. 
 “Anti-Terrorism Laws” means any Applicable Law or regulation relating to terrorism, trade sanctions programs
and embargoes, import/export licensing, money laundering or bribery, and any regulation, order, or directive promulgated, issued or enforced pursuant to such Applicable Laws, all as amended, supplemented or replaced from time to time. 

“Applicable Law” means, with respect to any Person, (x) all provisions of law, statute, treaty, constitution, ordinance,
rule, regulation, ordinance, requirement, restriction, permit, executive order, certificate, decision, directive or order of any Governmental Authority applicable to such Person or any of its property and (y) all judgments, injunctions, orders,
writs, decrees and awards of all courts and arbitrators in proceedings or actions in which such Person is a party or by which any of its property is bound. 

“ArcelorMittal Excluded Receivable” means each Receivable (determined without regard to the proviso to the definition
thereof), the Obligor of which is ArcelorMittal Sourcing SCA and the Originator of which is an Australian Originator. 
 “Assumption
Agreement” means an agreement substantially in the form set forth in Annex F to this Agreement. 

“Attorney Costs” means and includes all reasonable fees and disbursements of any law firm or other external counsel. 

“Australian Contract” means each Contract with respect to an Australian Originator Receivable. 

“Australian Dollar” or “AUD” means the lawful currency of the Commonwealth of Australia. 

  
 I-2 

 “Australian Dollar LC Participation Amount” means at any time of determination,
the aggregate LC Participation Amount with respect to Letters of Credit denominated in Australian Dollars. 
 “Australian Dollar AR
Volatility Reserve” means, at any time of determination, the product of (a) the Outstanding Balance of all Eligible Receivables denominated in Australian Dollars, multiplied by (b) the Australian Dollar VaR
Percentage. 
 “Australian Dollar LC Volatility Reserve” means, at any time of determination, the product of (a) the
U.S. Dollar Equivalent of the Adjusted Australian Dollar LC Participation Amount, multiplied by (b) the Australian Dollar VaR Percentage. 

“Australian Dollar VaR Percentage” means the value at risk percentage determined by the Administrator in its commercially
reasonable judgment from time to time with respect to Australian Dollars, and which shall on the Closing Date be 8.00%. 

“Australian Originator” means each Person that is a party to the Australian Sale Agreement as an “Originator”
thereunder. 
 “Australian Originator Excluded Receivable” means (i) each Queensland Receivable and (ii) each
Receivable (determined without regard to the proviso to the definition thereof) for which the related Contract prohibits such Receivable’s sale, transfer or assignment and the declaration or creation of a trust in respect of such Receivable
pursuant to the Australian Purchase and Sale Agreement; provided that, for purposes of clause (ii), no Receivable identified as an Eligible Receivable in any Information Package or Interim Report shall constitute an Australian Originator
Excluded Receivable. 
 “Australian Originator Receivable” means each Receivable originated by an Australian Originator.

 “Australian Sale Agreement” means the Australian Purchase and Sale Agreement, dated as of the Closing Date, between the
Contributor and the Australian Originators as such agreement may be amended, amended and restated, supplemented or otherwise modified from time to time. 

“Australian Sub-Servicer” has the meaning set forth in the preamble to this
Agreement. 
 “Bankruptcy Code” means the United States Bankruptcy Reform Act of 1978 (11 U.S.C. § 101, et seq.), as
amended from time to time. 
 “Bankruptcy Court” means the United States Bankruptcy Court for the Eastern District of
Missouri. 
 “Base Rate” means, for any day, a fluctuating interest rate per annum as shall be in effect from time to time,
which rate shall be at all times equal to the higher of: 
 (a)    the rate of interest in effect for
such day as publicly announced from time to time by the applicable Purchaser Agent (or the applicable Committed Purchaser or, in 

  
 I-3 

 
the case of determining the Base Rate for purposes of calculating the Yield Reserve, the Administrator) as its “reference rate” or “prime rate”, as applicable. Such
“reference rate” (or “prime rate”, as applicable) is set by the applicable Purchaser Agent (or the applicable Committed Purchaser or the Administrator) based upon various factors, including the applicable Purchaser Agent’s
(or the applicable Committed Purchaser’s or the Administrator’s) costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above or below such
announced rate; and 
 (b)    0.50% per annum above the latest Federal Funds Rate. 

“BBVA” means Banco Bilbao Vizcaya Argentaria S.A Paris Branch. 

“Benefit Plan” means any employee benefit pension plan as defined in Section 3(2) of ERISA in respect of which the
Seller, any Originator, Peabody or any ERISA Affiliate is, or at any time during the immediately preceding six years was, an “employer” as defined in Section 3(5) of ERISA. 

“Bill of Exchange Receivable” means any indebtedness and other obligations owed to the Seller (as assignee of the Contributor
and an Australian Originator), the Contributor or any Australian Originator by, or any right of the Seller, the Contributor or any Australian Originator to payment from or on behalf of, BBVA, arising in connection with the discounting, sale or
assignment of any Qualifying Bill of Exchange. 
 “Business Day” means any day (other than a Saturday or Sunday) on which:
(a) banks are not authorized or required to close in New York City, New York, or Pittsburgh, Pennsylvania and (b) if this definition of “Business Day” is utilized in connection with the Euro-Rate, dealings are carried out in the
London interbank market. 
 “Capital” means, with respect to any Purchaser, the aggregate amounts (i) paid to (or for
the benefit of) the Seller in respect of Investments by such Purchaser pursuant to Section 1.2 of this Agreement, (ii) paid by such Purchaser, as an LC Participant, to the LC Bank in respect of a Participation Advance
made by such Purchaser to the LC Bank pursuant to Section 1.16 and (iii) with respect to the Purchaser that is the LC Bank, paid by the LC Bank with respect to all drawings under a Letter of Credit to the extent such
drawings have not been reimbursed by the Seller or funded by Participation Advances, in each case, as reduced from time to time by Collections distributed and applied on account of such Capital pursuant to Section 1.6(d) of the Agreement;
provided, that if such Capital shall have been reduced by any distribution and thereafter all or a portion of such distribution is rescinded or must otherwise be returned for any reason, such Capital shall be increased by the amount of such
rescinded or returned distribution as though it had not been made. 
 “Cash Liquidity” means the U.S. Dollar
Equivalent of Peabody Group’s “Unrestricted Cash” and “Investments” permitted by Section 7.02 of the Credit Agreement (each as defined in the Credit Agreement as in effect on the date hereof without giving effect to any
amendments or modifications to the Credit Agreement occurring after the date hereof). 

  
 I-4 

 “Cash Liquidity Reporting Date” means (a) with respect to each Information
Package, the last Business Day of the related calendar month, (b) with respect to each Weekly Report, the last Business day of the related calendar week and (c) with respect to each Daily Report, the previous Business Day. 

“Change in Control” means (a) Peabody ceases to own, directly or indirectly, 100% of the membership interests of the
Seller free and clear of all Adverse Claims; (b) a “Change of Control” as defined in the Priority Lien Notes Indenture or (c) with respect to any Originator, Peabody ceases to be the beneficial owner (as defined in Rules 13(d)-3 and 13(d)-5 under the Securities Exchange Act of 1934, as amended), directly or indirectly, of at least 75% of the outstanding shares of voting securities of such
Originator without the prior written consent of the Administrator, such consent not to be unreasonably withheld. For purposes of this definition, “Priority Lien Notes Indenture” means the Indenture, dated as of February 15,
2017, among Peabody, the Persons party thereto as “Guarantors”, and Wilmington Trust, National Association, as the Priority Lien Notes Trustee and the Collateral Trustee, as in effect on April 3, 2017 without giving effect to any
subsequent amendment, modification or termination thereof. 
 “Change in Law” means the occurrence, after the Closing Date,
of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any
Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that notwithstanding anything herein to the contrary,
(x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank
for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a
“Change in Law”, regardless of the date enacted, adopted or issued. 
 “Chapter 11 Cases” means the Chapter 11
cases of the Peabody Group jointly administered under Case No. 16-42529-399 in the U.S. Bankruptcy Court for the Eastern District of Missouri. 

“Chapter 11 Debtors” means Peabody and certain of its Subsidiaries that were debtors in any of the Chapter 11 Cases. 

“Closing Date” means April 3, 2017. 

“CMJV Acknowledgement” has the meaning set forth in Section 5.21. 

“CMJV Acknowledgement End Date” has the meaning set forth in Section 5.21. 

“Collections” means, with respect to any Pool Receivable: (a) all funds that are received by any Originator, Peabody,
the Seller or the Servicer in payment of any amounts owed in respect of such Receivable (including (i) purchase price, finance charges, interest and all other charges and (ii) discount, sale and assignment proceeds with respect to Bill of
Exchange Receivables), or applied to amounts owed in respect of such Receivable (including insurance 

  
 I-5 

 
payments and net proceeds of the sale or other disposition of repossessed goods or other collateral or property of the related Obligor or any other Person directly or indirectly liable for the
payment of such Pool Receivable and available to be applied thereon), (b) all amounts deemed to have been received pursuant to Section 1.6(e) of the Agreement and (c) all other proceeds of such Pool Receivable
(including payments by guarantors and drawings under any Eligible Supporting Letter of Credit or any other letter of credit in favor of any Originator, the Seller or the Servicer with respect to such Receivable). 

“Commitment” means, with respect to any Committed Purchaser, LC Participant or LC Bank, as applicable, the maximum aggregate
amount which such Purchaser is obligated to pay hereunder on account of all Investments and all drawings under all Letters of Credit, on a combined basis, as set forth on Schedule V hereto or in the Assumption Agreement or other agreement
pursuant to which it became a Purchaser, as such amount may be modified in connection with any subsequent assignment pursuant to Section 5.3(c) or in connection with a change in the Purchase Limit pursuant to
Section 1.1(c). As the context so requires, “Commitment” with respect to any Committed Purchaser, LC Participant or LC Bank, as applicable, shall also be deemed to include such Committed Purchaser’s, LC
Participant’s or LC Bank’s obligation hereunder to make Investments, Reinvestments or Participation Advances to the LC Bank or, in the case of the LC Bank, to issue Letters of Credit, as applicable, on the terms and subject to the
conditions set forth herein. 
 “Commitment Percentage” means, for each Committed Purchaser or related LC Participant in a
Purchaser Group, the Commitment of such Committed Purchaser or related LC Participant, as the case may be, divided by the total of all Commitments of all Committed Purchasers or related LC Participants, as the case may be, in such Purchaser Group.

 “Committed Purchaser” means each Person listed as such on the signature pages of this Agreement or in any Assumption
Agreement or Transfer Supplement. 
 “Concentration Percentage” means: (a) for any Group A Obligor, 15.00%,
(b) for any Group B Obligor, 12.00%, (c) for any Group C Obligor, 7.00% and (d) for any Group D Obligor, 5.00%. 

“Concentration Reserve” means the product of (a) the Aggregate Capital plus the Aggregate Adjusted LC Participation
Amount, and (b)(i) the Concentration Reserve Percentage divided by (ii) 1 minus the Concentration Reserve Percentage. 

“Concentration Reserve Percentage” means, at any time, the largest of: (a) the sum of the five (5) largest Obligor
Percentages of the Group D Obligors at such time, (b) the sum of the three (3) largest Obligor Percentages of the Group C Obligors at such time, (c) the two (2) largest Obligor Percentage of the Group B Obligors at such time and
(d) the one (1) largest Obligor Percentage of the Group A Obligors at such time; provided, that, for purposes of determining the Concentration Reserve Percentage, with respect to any Eligible Receivable supported by an
Eligible Supporting Letter of Credit, the “Obligor” thereof (including for purposes of determining such Obligor’s Obligor Percentage and status as a Group A Obligor, Group B Obligor, Group C Obligor or Group D Obligor) shall be deemed
to be the related Eligible Supporting Letter of Credit Provider; provided, further that if any Pool Receivable is partially 

  
 I-6 

 
supported by an Eligible Supporting Letter of Credit, then the “Obligor” thereof shall be deemed to be (i) with respect to the Unsupported Outstanding Balance of such Pool
Receivable, the Obligor of such Pool Receivable and (ii) with respect to the Supported Outstanding Balance of such Pool Receivable, the related Eligible Supporting Letter of Credit Provider. 

“Conduit Purchaser” means each commercial paper conduit that is a party to this Agreement, as a purchaser, or that becomes a
party to this Agreement, as a purchaser pursuant to an Assumption Agreement or otherwise. 
 “Confirmation Order” means the
final order confirming the Plan of Reorganization entered by the Bankruptcy Court on March 17, 2017, which, among other things, approves the transactions described in this Agreement and the other Transaction Documents. 

“Contract” means, with respect to any Receivable, any and all contracts, instruments, agreements, leases, invoices, notes or
other writings pursuant to which such Receivable arises or that evidence such Receivable or under which an Obligor becomes or is obligated to make payment in respect of such Receivable. 

“Contribution Agreement” means that certain Amended and Restated Contribution Agreement, dated as of the date hereof, by and
between the Contributor and the Seller, as the same may be amended from time to time. 
 “Contributor” means Peabody Energy
Corporation, a Delaware corporation. 
 “Covered Entity” means (a) the Seller, the Servicer, each Sub-Servicer, the Performance Guarantor, the Contributor and each Originator and (b) each Person that, directly or indirectly, is in control of a Person described in clause (a) above. For purposes
of this definition, control of a Person shall mean the direct or indirect (x) ownership of, or power to vote, 25% or more of the issued and outstanding equity interests having ordinary voting power for the election of directors of such Person
or other Persons performing similar functions for such Person, or (y) power to direct or cause the direction of the management and policies of such Person whether by ownership of equity interests, contract or otherwise. 

“CP Rate” means, for any Conduit Purchaser and for any Settlement Period for any Portion of Capital, (a) the per
annum rate equivalent to the weighted average cost (as determined by the applicable Purchaser Agent and which shall include commissions of placement agents and dealers, incremental carrying costs incurred with respect to Notes of such Person
maturing on dates other than those on which corresponding funds are received by such Conduit Purchaser, other borrowings by such Conduit Purchaser (other than under any Program Support Agreement) and any other costs associated with the issuance of
Notes) of or related to the issuance of Notes that are allocated, in whole or in part, by the applicable Purchaser Agent to fund or maintain such Portion of Capital (and which may be also allocated in part to the funding of other assets of such
Conduit Purchaser); provided, that if any component of such rate is a discount rate, in calculating the “CP Rate” for such Portion of Capital for such Settlement Period, the applicable Purchaser Agent shall for such component
use the rate resulting from converting such discount rate to an interest bearing equivalent rate per annum; provided, further, that notwithstanding anything in the Agreement or the other Transaction Documents to the
contrary, the Seller agrees that any 

  
 I-7 

 
amounts payable to the Purchasers in respect of Discount for any Settlement Period with respect to any Portion of Capital funded by such Purchaser at the CP Rate shall include an amount equal to
the portion of the face amount of the outstanding Notes issued to fund or maintain such Portion of Capital that corresponds to the portion of the proceeds of such Notes that was used to pay the interest component of maturing Notes issued to fund or
maintain such Portion of Capital, to the extent that such Purchaser had not received payments of interest in respect of such interest component prior to the maturity date of such maturing Notes (for purposes of the foregoing, the “interest
component” of Notes equals the excess of the face amount thereof over the net proceeds received by such Purchaser from the issuance of Notes, except that if such Notes are issued on an interest-bearing basis its “interest component”
will equal the amount of interest accruing on such Notes through maturity) or (b) any other rate designated as the “CP Rate” for such Conduit Purchaser in an Assumption Agreement or Transfer Supplement pursuant to which such Person
becomes a party as a Conduit Purchaser to this Agreement, or any other writing or agreement provided by such Conduit Purchaser to the Seller, the Servicer and the applicable Purchaser Agent from time to time. Notwithstanding the foregoing, the
“CP Rate” for any day while a Termination Event exists shall be an interest rate equal to the greater of (i) 3.00% above the Base Rate in effect on such day and (ii) the Alternate Rate as calculated in the definition thereof. 

“Credit Agreement” means that certain Credit Agreement, dated as of April 3, 2017, among Peabody, as the borrower, the
several lenders and other parties from time to time parties thereto, Goldman Sachs Bank USA, as administrative agent, and the other parties party thereto, and shall include, except as otherwise expressly provided herein, such agreement as further
amended, restated and/or otherwise modified from time to time in accordance with the terms thereof, and any extension, replacement, substitution, and/or refinancing thereof. 

“Credit and Collection Policy” means, as the context may require, those receivables credit and collection policies and
practices of the Originators in effect on the date of the Agreement and described in Schedule I to the Agreement, as modified in compliance with the Agreement. 

“Daily Report” has the meaning set forth in Section 2(l)(iv) of Exhibit IV to this Agreement. 

“Days’ Sales Outstanding” means, at any time, an amount computed as of the last day of each calendar month equal to:
(a) the average of the Outstanding Balance of all Pool Receivables as of the last day of each of the three most recent calendar months ended on the last day of such calendar month divided by (b) (i) the aggregate initial
Outstanding Balance of all Pool Receivables originated by the Originators during the three calendar months ended on or before the last day of such calendar month divided by (ii) 90. 

“Debt” means: (a) indebtedness for borrowed money, (b) obligations evidenced by bonds, debentures, notes or other
similar instruments, (c) obligations to pay the deferred purchase price of property or services, (d) obligations as lessee under leases that shall have been or should be, in accordance with generally accepted accounting principles,
recorded as capital leases, and (e) obligations under direct or indirect guaranties in respect of, and obligations (contingent or otherwise) to purchase or otherwise acquire, or otherwise to assure a creditor against loss in respect of,
indebtedness or obligations of others of the kinds referred to in clauses (a) through (d) above. 

  
 I-8 

 “Declining Conduit Purchaser” has the meaning set forth in Section
1.6(b)(ii) of the Agreement. 
 “Declining Notice” has the meaning set forth in Section 1.6(b)(ii) of the
Agreement. 
 “Default Ratio” means the ratio (expressed as a percentage and rounded to the nearest 1/100 of 1%, with
5/1000th of 1% rounded upward) computed as of the last day of each calendar month by dividing: (a) the aggregate Outstanding Balance of all Pool Receivables that became Defaulted Receivables during such month (other than Receivables that became
Defaulted Receivables as a result of an Event of Bankruptcy with respect to the Obligor thereof during such month), by (b) the aggregate initial Outstanding Balance of all Pool Receivables originated by the Originators during the month that is
three calendar months before such month. 
 “Defaulted Receivable” means a Receivable: 

(a)    as to which any payment, or part thereof, remains unpaid for more than 60 days from the due
date for such payment (which shall be determined without regard to any credit memos or credit balances available to the Obligor); or 

(b)    without duplication (i) as to which an Insolvency Proceeding shall have occurred with respect
to the Obligor thereof or any other Person obligated thereon or owning any Related Security with respect thereto, or (ii) that has been written off the Seller’s books as uncollectible. 

“Deferred Purchase Price” has the meaning set forth in Section 1.4(c) of the Agreement. 

“Delinquency Ratio” means the ratio (expressed as a percentage and rounded to the nearest 1/100 of 1%, with 5/1000th of 1%
rounded upward) computed as of the last day of each calendar month by dividing: (a) the aggregate Outstanding Balance of all Pool Receivables that were Delinquent Receivables on such day by (b) the aggregate Outstanding Balance of all Pool
Receivables on such day. 
 “Delinquent Receivable” means a Receivable as to which any payment, or part thereof, remains
unpaid for more than 60 days from the due date for such payment. 
 “Dilution Component Reserve” means at any time the
product of (a) the sum of the Aggregate Capital and the Aggregate Adjusted LC Participation Amount multiplied by (b) (i) the Dilution Component Reserve Percentage on such date divided by (ii) 100% minus the Dilution Component Reserve
Percentage. 
 “Dilution Component Reserve Percentage” means on any date, the product of (a) the average Dilution
Ratio for the twelve preceding calendar months multiplied by (b) the Dilution Horizon. 

  
 I-9 

 “Dilution Horizon” means, for any calendar month, the ratio (expressed as a
percentage and rounded to the nearest 1/100th of 1%, with 5/l000th of 1% rounded upward) computed as of the last day of such calendar month of: (a) the sum of (x) the aggregate initial Outstanding Balance of all Pool Receivables originated
by the Originators during the most recent calendar month plus (y) the product of 0.25 and the aggregate initial Outstanding Balance of all Pool Receivables originated by the Originators during the second most recent calendar month to
(b) the Net Receivables Pool Balance at the last day of the most recent calendar month. 
 “Dilution Ratio” means the
ratio (expressed as a percentage and rounded to the nearest 1/100th of 1%, with 5/1000th of 1% rounded upward), computed as of the last day of each calendar month by dividing: (a) the aggregate U.S. Dollar Equivalent of the amount of
payments required to be made by the Seller pursuant to Section 1.6(e)(i) of the Agreement during such calendar month by (b) the aggregate initial Outstanding Balance of all Pool Receivables originated by the
Originators during the month that is one month prior to the current month. 
 “Dilution Reserve” means, on any date,
an amount equal to: (a) the sum of the Aggregate Capital plus the Aggregate Adjusted LC Participation Amount at the close of business of the Seller on such date multiplied by (b) (i) the Dilution Reserve Percentage on such date,
divided by (ii) 100% minus the Dilution Reserve Percentage on such date. 
 “Dilution Reserve Percentage” means
on any date, the product of (i) the Dilution Horizon multiplied by (ii) the sum of (x) 2.25 times the average of the Dilution Ratio for the twelve most recent calendar months and (y) the Spike Factor.

 “Discount” means, with respect to any Purchaser, the amount determined pursuant to the applicable formula below: 

(a)    for any Portion of Capital of such Purchaser for any Settlement Period to the extent such Purchaser
will be funding such Portion of Capital during such Settlement Period through the issuance of Notes: 
 CPR × C × (ED/360) 

(b)    for any Portion of Capital of such Purchaser for any Settlement Period to the extent such Purchaser
will not be funding such Portion of Capital during such Settlement Period through the issuance of Notes: 
 TF + the sum of the following
amounts calculated for each 
 day in such Settlement Period: 

AR × C × (1/Year) 

  
 I-10 

 where: 
  

			
	AR	  	=        the Alternate Rate for such Portion on such day;
		
	C	  	=        such Portion of Capital (i) for purposes of clause (a) above, for such Settlement Period, or (ii) for purposes of clause (b) above, on such
day;
		
	CPR	  	=        the CP Rate for such Portion of Capital for such Settlement Period;
		
	ED	  	=        the actual number of days during such Settlement Period;
		
	Year	  	=        if such Portion of Capital is funded based upon: (i) the Euro-Rate, 360 days, and (ii) the Base Rate, 365 or 366 days, as applicable; and
		
	TF	  	=        the Termination Fee, if any, for the Portion of Capital for such Settlement Period;

 provided, that no provision of the Agreement shall require the payment or permit the collection of Discount in excess
of the maximum permitted by Applicable Law; and provided further, that Discount for any Portion of Capital shall not be considered paid by any distribution to the extent that at any time all or a portion of such distribution is
rescinded or must otherwise be returned for any reason. 
 “Drawing Date” has the meaning set forth in
Section 1.16 of the Agreement. 
 “Eligible Assignee” means any bank or financial institution
acceptable to the LC Bank and the Administrator. 
 “Eligible Foreign Obligor” means an Obligor (or (x) with respect
to any Receivable that is supported by an Eligible Supporting Letter of Credit, such Eligible Supporting Letter of Credit Provider or (y) if such Receivable is unconditionally guaranteed in full by an Affiliate of such Obligor, such Affiliate)
which is organized under the laws of any country (or with respect to an Eligible Supporting Letter of Credit Provider, the country in which the office from which it is obligated to make payment with respect to such Eligible Supporting Letter of
Credit is located) (other than the United States) that has (i) a foreign currency rating of at least “A” by Standard and Poor’s and “A2” by Moody’s, and (ii) a transfer and convertibility assessment of at
least “A” by Standard and Poor’s. 
 “Eligible Receivable” means, at any time, (I) any Pool Receivable
(other than a Bill of Exchange Receivable): 
 (a) the Obligor of which is (i) organized under the laws of the United
States (or a subdivision thereof) or if such Obligor is not organized under the laws of the United States (or a subdivision thereof): (A) such Pool Receivable results from goods sold and shipped from (x) a U.S. Originator in the United States
and payment for such goods is denominated and payable only in U.S. Dollars to a U.S. Originator at a Lock-Box Account or (y) an Australian Originator in Australia and payment for such goods is denominated
and payable only in Australian Dollars or U.S. Dollars to an Australian Originator at a Lock-Box Account (or in the case of Peabody Coppabella, payable to its 

  
 I-11 

 
agent and transferred to a Lock-Box Account in accordance with Section 1(j) of Exhibit IV), and (B) such Obligor is an Eligible Foreign Obligor,
(ii) not subject to any action of the type described in paragraph (f) of Exhibit V to the Agreement, (iii) not an Affiliate of Peabody or any other Originator, (iv) not a Sanctioned Obligor and (v) not an
Obligor as to which the Administrator, in its reasonable business judgment, has notified the Seller and the Servicer that such Obligor is not acceptable, 

(b) that is denominated and payable (i) if a U.S. Originator Receivable, only in U.S. Dollars to a U.S. Originator at a Lock-Box Account or (ii) if an Australian Originator Receivable, only in U.S. Dollars or Australian Dollars to an Australian Originator at a Lock-Box Account (or in the
case of Peabody Coppabella, payable to its agent and transferred to a Lock-Box Account in accordance with Section 1(j) of Exhibit IV), 

(c) (i) if a U.S. Originator Receivable does not have a stated maturity which is more than 30 days after the original
invoice date of such Receivable, or (ii) if an Australian Originator Receivable, that does not have a stated maturity which is more than 60 days after the original invoice date of such Receivable, 

(d) that arises under a duly authorized Contract for the sale and delivery of goods or services in the ordinary course of the
Originator’s business, 
 (e) that arises under a Contract that has been duly authorized by the relevant Originator that
is in full force and effect and that is a legal, valid and binding obligation of the related Obligor, enforceable against such Obligor in accordance with its terms, 

(f) that conforms in all material respects with all Applicable Law in effect, 

(g) that is not the subject of any asserted dispute, offset, hold back defense, Adverse Claim or other claim, provided,
that, with respect to any Receivable which is subject to any such a claim, the amount of such Receivable which shall be treated as an Eligible Receivable shall equal the excess of the amount of such Receivable over the amount of such claim asserted
by or available to the account party or other obligor, 
 (h) that satisfies all applicable requirements of the applicable
Credit and Collection Policy, 
 (i) that has not been modified, waived or restructured since its creation, except as
permitted pursuant to Section 4.2 of the Agreement, 
 (j) if (i) a U.S. Originator
Receivable, in which the Seller owns good and marketable title, free and clear of any Adverse Claims, and that is freely assignable by the Seller (including without any consent of the related Obligor) or (ii) an Australian Originator
Receivable, in which the Seller holds a beneficial interest, free and clear of any Adverse Claims, and such beneficial interest (or any other interest of the Seller, if applicable) is freely assignable by the Seller (including without any consent of
the related Obligor), 

  
 I-12 

 (k) if (i) a U.S. Originator Receivable, for which the Administrator (on
behalf of the Purchasers) shall have a valid and enforceable ownership or security interest and a valid and enforceable first priority perfected ownership or security interest therein and in the Related Security and Collections with respect thereto,
in each case free and clear of any Adverse Claim or (ii) an Australian Originator Receivable, for which the Administrator (on behalf of the Purchasers) shall have a valid and enforceable first priority perfected ownership or security interest
in the beneficial interest (or any other interest of the Seller, if applicable) in such Receivable and in the Related Security and Collections with respect thereto, in each case free and clear of any Adverse Claim, 

(l) that constitutes an “account” as defined in the UCC, and that is not evidenced by “instruments” or
“chattel paper”, 
 (m) that is neither a Defaulted Receivable nor a Delinquent Receivable, 

(n) for which neither the Originator thereof, the Seller nor the Servicer has established any offset arrangements with the
related Obligor, 
 (o) for which Defaulted Receivables of the related Obligor do not exceed 25% of the Outstanding Balance
of all such Obligor’s Receivables, 
 (p) that represents amounts earned and payable by the Obligor that are not subject
to the performance of additional services by the Originator thereof, 
 (q) that if such Receivable has not yet been billed,
the related coal has been shipped within the last 60 days, 
 (r) if an Australian Originator Receivable, the related
Contract for which is a Permitted Australian Contract, and 
 (s) if the Originator of which is Peabody Coppabella,
(i) at any time after the CMJV Acknowledgement End Date, the CMJV Acknowledgement shall not have been amended, modified, supplemented or terminated without the prior written consent of the Administrator and (ii) the Administrator has not
delivered five days’ written notice to the Seller and Servicer that Peabody Coppabella Receivable shall cease to constitute “Eligible Receivables”, which determination shall be made at the reasonable discretion of the Administrator.

 and (II) any Pool Receivable constituting a Bill of Exchange Receivable: 

(a) the Obligor of which is BBVA and BBVA is not then either (i) a Sanctioned Obligor or (ii) subject to any action
of the type described in paragraph (f) of Exhibit V to the Agreement, 
 (b) that is denominated and
payable only in U.S. Dollars to the applicable Australian Originator at a Lock-Box Account, 

  
 I-13 

 (c) that does not have a stated maturity exceeding 55 days after the date on
which such Bill of Exchange has been discounted without recourse to BBVA, 
 (d) that arises under a duly authorized contract
or instrument that is in full force and effect and that is a legal, valid and binding obligation of BBVA, enforceable against BBVA in accordance with its terms, 

(e) that conforms in all material respects with all Applicable Law in effect, 

(f) that is not subject to revocation by BBVA, not the subject of any asserted dispute, offset, hold back defense, Adverse
Claim or other claim, 
 (g) that has not been modified, waived or restructured since its creation, except as permitted
pursuant to Section 4.2 of the Agreement, 
 (h) in which the Seller holds a beneficial interest,
free and clear of any Adverse Claims, and such beneficial interest is freely assignable by the Seller (including without any consent of BBVA), 

(i) for which the Administrator (on behalf of the Purchasers) shall have a valid and enforceable first priority perfected
ownership or security interest in the beneficial interest in such Receivable and in the Related Security and Collections with respect thereto, in each case free and clear of any Adverse Claim, 

(j) that constitutes an “account” or “payment intangible” as defined in the UCC, and that is not evidenced
by “instruments” or “chattel paper”, 
 (k) that is neither a Defaulted Receivable nor a Delinquent
Receivable, 
 (l) for which neither the Originator thereof, the Seller nor the Servicer has established any offset
arrangements with BBVA, 
 (m) for which Defaulted Receivables of BBVA do not exceed 25% of the Outstanding Balance of all
BBVA’s Receivables, 
 (n) that represents amounts earned and payable by BBVA that are not subject to the performance of
additional services by the Originator thereof, and 
 (o) with respect to which the Servicer maintains records sufficient (as
determined by the Administrator in its sole discretion) to permit the daily identification and segregation of such Bill of Exchange Receivables and ArcelorMittal Excluded Receivables. 

“Eligible Supporting Letter of Credit” means, with respect to any Pool Receivables of an Obligor, an unconditional (except
for any draft or documentation required to be presented as a condition to drawings thereunder), irrevocable standby or commercial letter of credit, at all times in form and substance acceptable to the Administrator in its sole discretion, issued or
confirmed by an Eligible Supporting Letter of Credit Provider, which letter of credit (i) supports the 

  
 I-14 

 
payment of such Pool Receivables, (ii) names the Originator of such Pool Receivables as the sole beneficiary thereof and (iii) is payable in (a) with respect to any Pool Receivable
denominated in U.S. Dollars, U.S. Dollars and (b) with respect to any Pool Receivable denominated in Australian Dollars, Australian Dollars. 

“Eligible Supporting Letter of Credit Provider” means a bank so designated in writing by the Administrator to the Servicer
(in the sole discretion of the Administrator); provided, at any time after the long-term unsecured senior debt obligation of such bank is withdrawn or falls below a rating of (a) “BBB-” by
Standard & Poor’s on its long-term senior unsecured and uncredit-enhanced debt securities, or (b) “Baa3” by Moody’s on its long-term senior unsecured and uncredit-enhanced debt securities, that the Administrator
may revoke (in the sole discretion) any such designation by written notice, which revocation shall be effective on the date so designated, and on such effective date, each letter of credit issued or confirmed by such bank shall cease to be an
Eligible Supporting Letter of Credit. 
 “Encumbrance” means any: 

(a) security for the payment of money or performance of obligations, including a mortgage, charge, lien, pledge, trust, power
or title retention or flawed deposit arrangement and any “security interest” as defined in sections 12(1) or (2) of the PPSA; 

(b) right, interest or arrangement which has the effect of giving another person a preference, priority or advantage over
creditors including any right of set-off; 
 (c) right that a person (other than the
owner) has to remove something from land (known as a profit à prendre), easement, public right of way, restrictive or positive covenant, lease, or licence to use or occupy; or 

(d) third party right or interest or any right arising as a consequence of the enforcement of a judgment, or 

(e) any agreement to create any of preceding or allow any of preceding to exist. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and any successor statute of
similar import, together with the regulations thereunder, in each case as in effect from time to time. References to sections of ERISA also refer to any successor sections. 

“ERISA Affiliate” means: (a) any corporation that is a member of the same controlled group of corporations (within the
meaning of Section 414(b) of the Internal Revenue Code) as the Seller, any Originator or Peabody, (b) a trade or business (whether or not incorporated) under common control (within the meaning of Section 414(c) of the Internal Revenue Code)
with the Seller, any Originator or Peabody, or (c) a member of the same affiliated service group (within the meaning of Section 414(m) of the Internal Revenue Code) as the Seller, any Originator, Peabody, any corporation described in clause
(a) or any trade or business described in clause (b). 

  
 I-15 

 “Euro-Rate” means with respect to any day, the greater of (a) 0.00% and
(b) the interest rate per annum determined by the applicable Purchaser Agent (which determination shall be conclusive absent manifest error) by dividing (the resulting quotient rounded upwards, if necessary, to the nearest 1/100th of 1% per
annum) (i) the one-month Eurodollar rate for U.S. Dollar deposits as reported by Bloomberg Finance L.P. and shown on US0001M Screen as the composite offered rate for London interbank deposits for
such period or on any successor or substitute page of such service, or any successor or substitute for such service, providing rate quotations comparable to those currently provided on such page of such service, as determined by such Purchaser Agent
from time to time for purposes of providing quotations of interest rates applicable to U.S. Dollar deposits in the London interbank market, as of 11:00 a.m. (London time) on such date, or if such day is not a Business Day, then the immediately
preceding Business Day, in each case, changing when and as such rate changes, by (ii) a number equal to 1.00 minus the Euro-Rate Reserve Percentage. The Euro-Rate determined pursuant to this clause (a) for any day may also be
expressed by the following formula: 
  

			
	Euro-Rate =	  	Composite of London interbank offered rates
		  	shown on Bloomberg Finance L.P. Screen
		  	US0001M or appropriate successor
		  	1.00 - Euro-Rate Reserve Percentage

 As used in this definition, “Euro-Rate Reserve Percentage” for any day means the maximum
effective percentage in effect on such day as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including without limitation, supplemental, marginal, and emergency reserve
requirements) with respect to eurocurrency funding (currently referred to as “Eurocurrency Liabilities”). 
 “Event of
Bankruptcy” means (a) any case, action or proceeding before any court or other governmental authority relating to bankruptcy, reorganization, insolvency, liquidation, receivership, dissolution,
winding-up or relief of debtors or (b) any general assignment for the benefit of creditors of a Person or any composition, marshalling of assets for creditors of a Person, or other similar arrangement in
respect of its creditors generally or any substantial portion of its creditors; in each of cases (a) and (b) undertaken under U.S. Federal, state or foreign law, including the Bankruptcy Code. 

“Excess Concentration” means the sum of the following, without duplication: 

(a)    the sum of the amounts (if any) by which the aggregate Outstanding Balance of Eligible Receivables
of each Obligor, then in the Receivables Pool exceeds an amount equal to the product of (i) the Concentration Percentage for such Obligor, multiplied by (ii) the Outstanding Balance of all Eligible Receivables then in the
Receivables Pool; plus 
 (b)    the amount (if any) by which the aggregate Outstanding Balance of
all Eligible Receivables then in the Receivables Pool, the Obligors of which are organized under the laws of any single country (other than United States of America), exceeds (i) in the case of Australia, 15.00%, (ii) in the case of any country
(other than Australia) that has a foreign currency rating of at least “AA” by Standard and Poor’s and “Aa2” by Moody’s, 20.00%, or (iii) in any other case, 15.00% , in each case, of the aggregate Outstanding
Balance of all Eligible Receivables then in the Receivables Pool; plus 

  
 I-16 

 (c)    the amount (if any) by which the aggregate Outstanding
Balance of all Eligible Receivables then in the Receivables Pool, the Obligors of which are Eligible Foreign Obligors but which are not organized under the laws of Australia (or a subdivision thereof), exceeds 30.00% of the aggregate Outstanding
Balance of all Eligible Receivables then in the Receivables Pool; plus 
 (d)    the amount (if
any) by which the aggregate Outstanding Balance of all Eligible Receivables then in the Receivables Pool, the Obligors of which are governments, governmental subdivisions, affiliates or agencies other than the TVA, exceeds 5.00% of the aggregate
Outstanding Balance of all Eligible Receivables then in the Receivables Pool; plus 
 (e)    the
amount (if any) by which the aggregate Outstanding Balance of all Eligible Receivables considered to be “quality accruals” (as reported on the monthly Information Package), exceeds 5.00% of the aggregate Outstanding Balance of all Eligible
Receivables then in the Receivables Pool; plus 
 (f)    the amount (if any) by which the
aggregate Outstanding Balance of all Eligible Receivables then in the Receivables Pool the coal with respect to which has been shipped but not yet billed, exceeds 15.00% of the aggregate Outstanding Balance of all Eligible Receivables then in the
Receivables Pool; 
 provided, that, for purposes of determining the “Excess Concentration Amount” pursuant to clauses
(a) and (d) above, with respect to any Eligible Receivable supported by an Eligible Supporting Letter of Credit, the “Obligor” thereof shall be deemed to be the related Eligible Supporting Letter of Credit Provider,
provided, further that, for purposes of determining the “Excess Concentration Amount” pursuant to clauses (b) and (c) above, with respect to any Eligible Receivable supported by an Eligible
Supporting Letter of Credit or unconditionally guaranteed in full by an Affiliate of such Obligor, the “Obligor” thereof shall be deemed to be the related Eligible Supporting Letter of Credit Provider or such Affiliate guarantor (and, with
respect to any Eligible Receivable supported by an Eligible Supporting Letter of Credit, such Obligor shall be deemed to be organized under the laws of the country in which the office from which it is obligated to make payment with respect to such
Eligible Supporting Letter of Credit is located) and provided, further that if any Pool Receivable is partially supported by an Eligible Supporting Letter of Credit, then the “Obligor” thereof shall be deemed to be
(i) with respect to the Unsupported Outstanding Balance of such Pool Receivable, the Obligor of such Pool Receivable and (ii) with respect to the Supported Outstanding Balance of such Pool Receivable, the related Eligible Supporting Letter
of Credit Provider. 
 “Excluded Taxes” means any of the following Taxes imposed on or with respect to any Recipient or
required to be withheld or deducted from a payment to any Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes and branch profits Taxes, in each case, (i) imposed as a result of such Recipient
being organized under the laws of, or having its principal office or, in the case of any Purchaser, its applicable lending 

  
 I-17 

 
office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Purchaser, U.S. federal
withholding Taxes imposed on amounts payable to or for the account of such Purchaser with respect to an applicable interest in an Investment or Commitment pursuant to a law in effect on the date on which (i) such Purchaser acquires such
interest in the Investment or Commitment or (ii) such Purchaser changes its lending office, except in each case to the extent that, pursuant to Section 5.4, amounts with respect to such Taxes were payable either to
such Purchaser’s assignor immediately before such Purchaser became a party hereto or to such Purchaser immediately before it changed its lending office, (c) Taxes attributable to such Recipient’s failure to comply with Section
5.4(b)(ii) and (d) any U.S. federal withholding Taxes imposed under FATCA. 
 “Exiting Notice” has the meaning set
forth in Section 1.6(b)(ii) of the Agreement. 
 “Exiting Purchaser” has the meaning set forth in Section
1.6(b)(ii) of the Agreement. 
 “Facility Termination Date” means the earliest to occur of: (a) with respect to
each Purchaser, April 3, 2020, subject to any extension thereof pursuant to Section 1.12, (b) the date determined pursuant to Section 2.2 of the Agreement, (c) the date the Purchase
Limit reduces to zero pursuant to Section 1.1(c) of the Agreement, (d) with respect to each Purchaser Group, the date that the commitment of all of the Committed Purchasers of such Purchaser Group terminate pursuant to
Section 1.12 and (e) at any time during a Minimum Cash Liquidity Optional Termination Period, any date so designated by the Administrator at its sole and absolute discretion (provided, that such date shall not
be less than 364 days following the Administrator’s designation of such date). 
 “FATCA” means Sections 1471 through
1474 of the Internal Revenue Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations
thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Internal Revenue Code, and any intergovernmental agreement between the United States of America and any non-U.S. jurisdiction with
respect to the foregoing and any law, regulation, or practice adopted pursuant to such intergovernmental agreement. 
 “Federal
Funds Rate” means, for any day, the per annum rate set forth in the weekly statistical release designated as H.15(519), or any successor publication, published by the Federal Reserve Board (including any such successor,
“H.15(519)”) for such day opposite the caption “Federal Funds (Effective).” If on any relevant day such rate is not yet published in H. 15(519), the rate for such day will be the rate set forth in the daily statistical release
designated as the Composite 3:30 p.m. Quotations for U.S. Government Securities, or any successor publication, published by the Federal Reserve Bank of New York (including any such successor, the “Composite 3:30 p.m. Quotations”) for such
day under the caption “Federal Funds Effective Rate.” If on any relevant day the appropriate rate is not yet published in either H.15(519) or the Composite 3:30 p.m. Quotations, the rate for such day will be the arithmetic mean as
determined by the Administrator of the rates for the last transaction in overnight Federal funds arranged before 9:00 a.m. (New York time) on that day by each of three leading brokers of Federal funds transactions in New York City selected by the
Administrator. 

  
 I-18 

 “Federal Reserve Board” means the Board of Governors of the Federal Reserve
System, or any entity succeeding to any of its principal functions. 
 “Fee Letters” has the meaning set forth in
Section 1.7 of the Agreement. 
 “Fees” means the fees payable by the Seller pursuant to the Fee
Letters. For the avoidance of doubt, “Fees” excludes any Servicing Fees. 
 “Final Payout Date” means the date on
or after the Facility Termination Date on which (i) the Purchase Limit and all Commitments have been reduced to zero ($0), (ii) the Aggregate Capital has been reduced to zero ($0), (iii) the Aggregate Discount has been paid in full,
(iv) all accrued Fees have been paid in full, (v) the Aggregate Adjusted LC Participation Amount has been reduced to zero ($0) and no Letters of Credit issued hereunder remain outstanding and undrawn (unless backstopped or
cash-collateralized in a manner agreed to in writing by the LC Bank and the Majority LC Participants in their sole and absolute discretion) and (vi) all other amounts owing by the Seller and the Servicer to the Administrator, the Purchaser
Agents, the Purchasers, the Indemnified Parties and the other Affected Persons hereunder and under the other Transaction Documents have been paid in full. 

“Governmental Authority” means any nation or government, any state or other political subdivision thereof, any central bank
(or similar monetary or regulatory authority) thereof, any agency, authority, instrumentality, body or entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government, including any
court and any supra-national bodies such as the European Union or the European Central Bank. 
 “Group A Obligor” means any
Obligor with a short-term rating of at least: (a) “A1” by Standard & Poor’s, or if such Obligor does not have a short-term rating from Standard & Poor’s, a rating of “A+” or better by
Standard & Poor’s on its long-term senior unsecured and uncredit-enhanced debt securities, and (b) “P-1” by Moody’s, or if such Obligor does not have a short-term rating
from Moody’s, “Al” or better by Moody’s on its long-term senior unsecured and uncredit-enhanced debt securities, and any Special Group A Obligor. 

“Group B Obligor” means an Obligor, not a Group A Obligor, with a short-term rating of at least: (a) “A-2” by Standard & Poor’s, or if such Obligor does not have a short-term rating from Standard & Poor’s, a rating of “BBB+” to “A” by Standard &
Poor’s on its long-term senior unsecured and uncredit-enhanced debt securities, and (b) “P-2” by Moody’s, or if such Obligor does not have a short-term rating from Moody’s,
“Baal” to “A2” by Moody’s on its long-term senior unsecured and uncredit-enhanced debt securities, and any Special Group B Obligor. 

“Group C Obligor” means an Obligor, not a Group A Obligor or a Group B Obligor, with a short-term rating of at least: (a) “A-3” by Standard & Poor’s, or if such Obligor does not have a short-term rating from Standard & Poor’s, a rating of “BBB-” to
“BBB” by Standard & Poor’s on its long-term senior unsecured and uncredit-enhanced debt securities, and (b) “P-3” by Moody’s, or if such Obligor does not have a
short-term rating from Moody’s, “Baa3” to “Baa2” by Moody’s on its long-term senior unsecured and uncredit-enhanced debt securities, and any Special Group C Obligor. 

  
 I-19 

 “Group Capital” means with respect to any Purchaser Group, an amount equal to
the aggregate of all Capital of the Purchasers within such Purchaser Group. 
 “Group Commitment” means, with respect to
any Purchaser Group at any time, the aggregate Commitments of all Committed Purchasers (solely in such capacity) within such Purchaser Group. 

“Group D Obligor” means any Obligor that is not a Group A Obligor, Group B Obligor or Group C Obligor, and any Special Group
D Obligor. 
 “Indemnified Amounts” has the meaning set forth in Section 3.1 of the Agreement.

 “Indemnified Party” has the meaning set forth in Section 3.1 of the Agreement. 

“Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment or
disbursement by the Seller or Servicer under any Transaction Document and (b) any incremental U.S. federal income or withholding Taxes or state or local Taxes arising because an Investment or the Purchased Assets is not treated for U.S.
federal, state and local income and franchise Tax purposes as intended under Section 1.4(e) and any reasonable expenses (other than Taxes) arising out of, relating to, or resulting from, the foregoing. 

“Independent Director” has the meaning set forth in paragraph 3(c) of Exhibit IV to the Agreement. 

“Information Package” means a report, in substantially the form of Annex A to the Agreement, furnished to the
Administrator and each Purchaser Agent pursuant to the Agreement. 
 “Insolvency Proceeding” means: (a) any case,
action or proceeding before any court or other Governmental Authority relating to bankruptcy, reorganization, insolvency, liquidation, receivership, dissolution, winding-up or relief of debtors, or
(b) any general assignment for the benefit of creditors of a Person, composition, marshaling of assets for creditors of a Person, or other, similar arrangement in respect of its creditors generally or any substantial portion of its creditors,
in each of cases (a) and (b) undertaken under U.S. Federal, state or foreign law, including the Bankruptcy Code. 
 “Interim
Report” means each Daily Report and Weekly Report. 
 “Internal Revenue Code” means the Internal Revenue Code of
1986, as amended from time to time, and any successor statute of similar import, together with the regulations thereunder, in each case as in effect from time to time. References to sections of the Internal Revenue Code also refer to any successor
sections. 
 “Investment” has the meaning set forth in Section 1.1(a) of the Agreement. 

“Investment Date” means the date on which an Investment or a Reinvestment is made pursuant to this Agreement. 

  
 I-20 

 “Investment Notice” has the meaning set forth in Section 1.2(a) of this
Agreement. 
 “LC Bank” has the meaning set forth in the preamble to the Agreement. 

“LC Collateral Account” means each account designated as an LC Collateral Account established and maintained by the
Administrator (for the benefit of the LC Bank and the LC Participants), or such other account(s) as may be so designated as such by the Administrator. 

“LC Commitment” means the “Commitment” of each LC Participant party hereto as set forth on Schedule V hereto
or as set forth in any Assumption Agreement pursuant to which it became a party hereto. 
 “LC Fee Expectation” has the
meaning set forth in Section 1.17(c) of the Agreement. 
 “LC Participant” means each Person listed as such (and its
respective Commitment) for each Purchaser Group as set forth on the signature pages of this Agreement or in any Assumption Agreement or Transfer Supplement. 

“LC Participation Amount” means at any time of determination, and with respect to any currency, the sum of the amounts then
available to be drawn under all outstanding Letters of Credit denominated in such currency. 
 “LCR Security” means any
commercial paper or security (other than equity securities issued to Parent or any Originator that is a consolidated subsidiary of Parent under GAAP) within the meaning of Paragraph     .32(e)(viii) of the final rules titled
Liquidity Coverage Ratio: Liquidity Risk Measurement Standards, 79 Fed. Reg. 197, 61440 et seq. (October 10, 2014). 
 “Letter of
Credit” shall mean any stand-by letter of credit issued by the LC Bank for the account of the Seller pursuant to the Agreement. 

“Letter of Credit Application” has the meaning set forth in Section 1.14 of the Agreement. 

“Liquidity Agreement” means any agreement entered into in connection with this Agreement pursuant to which a Liquidity Bank
agrees to make purchases or advances to, or purchase assets from, any Conduit Purchaser in order to provide liquidity for such Conduit Purchaser’s Investments. 

“Liquidity Bank” means each bank or other financial institution that provides liquidity support to any Conduit Purchaser
pursuant to the terms of a Liquidity Agreement. 
 “LLC Agreement” means the Second Amended and Restated Limited Liability
Company Agreement of P&L Receivables Company, LLC. 
 “Lock-Box Account” means
an account in the name of the Seller (or that will be transferred to the Seller or established by the Seller pursuant to Section 5.21 within the time period specified therein) and maintained by the Seller at a bank or other
financial institution for the purpose of receiving Collections. 

  
 I-21 

 “Lock-Box Agreement” means an agreement,
in form and substance satisfactory to the Administrator, among the Seller, the Servicer, the Administrator and a Lock-Box Bank. 

“Lock-Box Bank” means any of the banks or other financial institutions holding one or
more Lock-Box Accounts; provided, however, that such bank or other financial institution shall be a Permitted Lock-Box Bank. 

“Loss Reserve” means, on any date, an amount equal to: (a) the sum of the Aggregate Capital plus the Aggregate Adjusted
LC Participation Amount at the close of business of the Seller on such date multiplied by (b) (i) the Loss Reserve Percentage on such date divided by (ii) 100% minus the Loss Reserve Percentage on such date. 

“Loss Reserve Percentage” means, on any date, the product of (i) 2.25 times (ii) the highest average of the Default
Ratios for any three consecutive calendar months during the twelve most recent calendar months and (iii) (A) the sum of (x) the aggregate initial Outstanding Balance of all Pool Receivables originated by the Originators during the
four most recent calendar months plus (y) the product of 0.25 and the aggregate initial Outstanding Balance of all Pool Receivables originated by the Originators during the fifth most recent calendar months divided by (B) the Net
Receivables Pool Balance as of such date. 
 “Majority LC Participants” means, at any time, LC Participants whose Pro Rata
Shares aggregate 51% or more. 
 “Majority Purchaser Agents” means, at any time, the Purchaser Agents which in their
related Purchaser Group have Committed Purchasers whose Commitments aggregate more than 50% of the aggregate of the Commitments of all Committed Purchasers in all Purchaser Groups; provided, that so long as any one Committed Purchaser’s
Commitment is greater than 50% of the aggregate Commitments and there is more than one Purchaser Group, then “Majority Purchaser Agents” shall mean a minimum of two Purchaser Agents which in their related Purchaser Group have Committed
Purchasers whose Commitments aggregate more than 50% of the aggregate Commitment of all Committed Purchasers in all Purchaser Groups. 

“Material Adverse Effect” means with respect to any event or circumstance, a material adverse effect on: 

(a) the assets, operations, business or financial condition of (i) the Seller, or (ii) Peabody and its Subsidiaries
taken as a whole, 
 (b) the ability of any of the Originators, the Contributor, the Servicer, any of the Sub-Servicers, Peabody or the Seller to perform its obligations under the Agreement or any other Transaction Document to which it is a party, 

(c) the validity or enforceability of the Agreement or any other Transaction Document, or the validity, enforceability or
collectibility of a material portion of the Pool Receivables, or 
 (d) the status, perfection, enforceability or priority of
the Administrator’s, the Purchasers’ or the Seller’s interest in the Pool Assets. 

  
 I-22 

 “Member” shall have the meaning set forth in Schedule A to the LLC Agreement.

 “Minimum Cash Liquidity Event” means the occurrence of a Minimum Cash Liquidity Trigger Event for a period of thirty
consecutive days during which no Information Package or Interim Report is delivered on any Cash Liquidity Reporting Date during such period showing Adjusted Cash Liquidity equal to or greater than $500,000,000 as of the applicable Cash Liquidity
Reporting Date. 
 “Minimum Cash Liquidity Optional Termination Period” means any period of thirty consecutive days
immediately following any Minimum Cash Liquidity Optional Termination Period Event. 
 “Minimum Cash Liquidity Optional Termination
Period Event” means the occurrence of a Minimum Cash Liquidity Optional Period Trigger Event for a period of thirty consecutive days during which no Information Package or Interim Report is delivered on any Cash Liquidity Reporting Date
during such period showing Cash Liquidity equal to or greater than $450,000,000 as of the applicable Cash Liquidity Reporting Date. 

“Minimum Cash Liquidity Optional Termination Period Trigger Event” means, with respect to any Cash Liquidity Reporting Date,
the Information Package or Interim Report with respect thereto shows Cash Liquidity is less than $450,000,000 as of such date. 

“Minimum Cash Liquidity Trigger Event” means, with respect to any Cash Liquidity Reporting Date, the Information Package or
Interim Report with respect thereto shows Adjusted Cash Liquidity is less than $500,000,000 as of such date. 
 “Monthly Settlement
Date” means the twenty-third day of each calendar month occurring after the Closing Date (or the next succeeding Business Day if such day is not a Business Day). 

“Moody’s” means Moody’s Investors Service, Inc. 

“Navajo Project” means that certain joint venture that developed, built and operates the Navajo Electric Generating Station
located in Page, Arizona, which joint venture is owned by Nevada Power Company, Salt River Project Agricultural Improvement and Power District, United States of America Bureau of Reclamation - Lower Colorado Region, Arizona Public Service Co., and
Tucson Gas and Electric Co. 
 “Net Receivables Pool Balance” means, at anytime: (a) the Outstanding Balance of
Eligible Receivables then in the Receivables Pool minus (b) Excess Concentration. 
 “New NAB
Lock-Box Account” has the meaning set forth in Section 5.21(a) of this Agreement. 

“New BOA Lock-Box Account” has the meaning set forth in Section 5.21(b) of
this Agreement. 
 “Notes” means short-term promissory notes issued, or to be issued, by any Conduit Purchaser to fund its
investments in accounts receivable or other financial assets. 

  
 I-23 

 “Notice Date” has the meaning set forth in
Section 1.14 of this Agreement. 
 “Obligor” means, with respect to any Receivable, the Person
obligated to make payments pursuant to the Contract relating to such Receivable. 
 “Obligor Group” means any of the
following: Group A Obligor, Group B Obligor, Group C Obligor or Group D Obligor. 
 “Obligor Percentage” means, at any
time, for each Obligor, a fraction, expressed as a percentage, (a) the numerator of which is the aggregate Outstanding Balance of the Eligible Receivables of such Obligor at such time less the amount (if any) then included in the calculation of
the Excess Concentration pursuant to clause (a) of the definition thereof with respect to such Obligor, and (b) the denominator of which is the aggregate Outstanding Balance of all Eligible Receivables at such time. 

“Order” has the meaning set forth in Section 1.22 of the Agreement. 

“Original Agreement” has the meaning set forth in the preliminary statements of the Agreement. 

“Original Agreement Outstanding Amounts” has the meaning set forth in the preliminary statements of the Agreement. 

“Originator” means any Australian Originator or U.S. Originator, as applicable. 

“Originator Performance Guaranty” means the Amended and Restated Originator Performance Guaranty, dated as of the Closing
Date, by the U.S. Originators in favor of the Administrator for the benefit of the Purchasers, as the same may be amended, restated, supplemented or otherwise modified from time to time. 

“Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection
between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a
security interest under, engaged in any other transaction pursuant to or enforced any Transaction Document, or sold or assigned an interest in any Investment or Transaction Document). 

“Other Material Financing Agreement” has the meaning set forth in paragraph (j) of Exhibit V of the Agreement.

 “Outstanding Balance” of any Receivable at any time means the then U.S. Dollar Equivalent of the outstanding
principal balance thereof. 
 “Participant” has the meaning set forth in Section 5.3(b) of this Agreement. 

“Participant Register” has the meaning set forth in Section 5.3(b) of this Agreement. 

  
 I-24 

 “Participation Advance” has the meaning set forth in Section 1.16(b) of
this Agreement. 
 “Paydown Notice” has the meaning set forth in Section 1.6(f)(i) of the Agreement. 

“Peabody” has the meaning set forth in the preamble to the Agreement. 

“Peabody Coppabella” means Peabody Coppabella Pty Ltd. 

“Peabody Group” means, collectively, Peabody together with the rest of its consolidated subsidiaries. 

“Percentage” means, for each Purchaser Group, a fraction (expressed as a percentage), (a) the numerator of which is such
Purchaser Group’s Group Commitment and (b) the denominator of which is the aggregate Group Commitments of all Purchaser Groups. 

“Performance Guarantor” means Peabody. 

“Performance Guaranty” means the Amended and Restated Performance Guaranty, dated as of the Closing Date, by the Performance
Guarantor in favor of the Administrator for the benefit of the Purchasers, as the same may be amended, restated, supplemented or otherwise modified from time to time. 

“Performance Reserve” means the sum of the Loss Reserve and the Dilution Reserve. 

“Permitted Australian Contract” means, as of any date of determination, each Australian Contract that (a) as of the
Closing Date is set forth on Schedule IX hereto, is a Standard Australian Contract, is not a Pre-Review Australian Contract or has been approved in writing by the Administrator in its sole discretion
and (b) at any time after the Closing Date, (i) is a Standard Australian Contract, (ii) if not a Standard Australian Contract, (A) if a Pre-Review Australian Contract, is set forth on
Schedule IX hereto or the Administrator has otherwise consented to such Contract in writing in its sole discretion, and in each case, with the exception of Permitted Amendments, has not subsequently been amended, restated, supplemented or otherwise
modified in any respect without the prior written consent of the Administrator and (B) if not a Pre-Review Australian Contract, the Administrator has not provided written notice to the Seller and the
Servicer within 15 days after knowledge by the Administrator of such Contract (including, disclosure by the Servicer of such Contract in an Information Package or Interim Report) that such Contract is not permitted. Solely for purposes of this
definition, “Permitted Amendments” shall mean amendments and modifications (i) solely with respect to pricing, (ii) solely with respect to modification of length of payments terms, provided that the payment terms as amended shall
not be longer than 60 days after the original invoice date or (iii) that could not reasonably be expected to have an adverse effect on any of the following: (a) the validity or enforceability of such Contract, (b) the validity,
enforceability or collectability of the related Receivables or any Related Rights or (c) the status, perfection, enforceability or priority of the Administrator’s, the Purchasers’ or the Seller’s interest in such Contract, the
related Receivables or the Related Rights; provided, that no amendment or modification affecting (x) the related Originator’s, Contributor’s or Seller’s right to sell, assign, transfer, pledge or otherwise deal with its rights
under such Contract, (y) the identity of the related Obligor or (z) the governing law of such Contract, shall constitute a Permitted Amendment. 

  
 I-25 

 “Permitted Liens” means (i) a lien, security interest or other charge or
encumbrance, or any other type of preferential arrangement in favor of, or assigned to, the Administrator (for the benefit of the Purchasers), (ii) the retention by the Australian Originators of legal title to Australian Originator Receivables and
Related Security (but not a beneficial interest therein) in accordance with the Australian Sale Agreement shall not constitute an Adverse Claim; provided, that, at any time after the occurrence of a “Title Perfection Event” (under
and as defined in the Australian Sale Agreement), any such retention of legal title to Australian Originator Receivables not constituting Trust Receivables contrary to the instructions of the Administrator, the Seller or the Contributor, shall
constitute an Adverse Claim and (iii) solely to the extent relating to Related Security, each of (a) any Encumbrance granted by Peabody Coppabella Pty Ltd pursuant to the deed entitled “Deed of Cross Charge (Coppabella and Moorvale
Joint Venture)” originally between Peabody Coppabella Pty Ltd, CITIC Australia Coppabella Pty Ltd, Mapella Pty Ltd, Winview Pty Ltd, KC Resources Pty Ltd, NS Coal Pty Ltd, Peabody Energy Australia PCI (C&M Management) Pty Ltd, dated
December 11, 2003, and currently between Peabody Coppabella Pty Ltd ACN 095 976 042, CITIC Australia Coppabella Pty Ltd ACN 067 547 442, Mapella Pty Ltd ACN 082 873 961, KC Resources Pty Ltd ACN 081 887 130, NS Coal Pty Ltd ACN 082 900 972 and
Peabody Energy Australia PCI (C&M Management) Pty Ltd and (b) any Encumbrance granted by Wilpinjong Coal Pty Ltd pursuant to the deed entitled “Step-in Deed” originally between Wilpinjong
Coal Pty Ltd and Macquarie Generation (and subsequently vested in AGL Macquarie Pty Limited), dated January 11, 2012, as amended by the Support and Amendment Deed dated 27 May 2016; it being understood and
agreed that any Encumbrance described in this clause (iii) shall not constitute a Permitted Lien to the extent such Encumbrance relates to any Receivable. 

“Permitted Lock-Box Bank” means (i) PNC or an Affiliate thereof, (ii) Bank
of America, National Association, (iii) National Australia Bank Limited or (iv) any other bank approved by the Administrator. 

“Person” means an individual, partnership, corporation (including a business trust), joint stock company, trust,
unincorporated association, joint venture, limited liability company or other entity, or a government or any political subdivision or agency thereof. 

“Plan of Reorganization” shall mean the chapter 11 plan of reorganization of the Chapter 11 Debtors confirmed by the
Confirmation Order. 
 “PNC” has the meaning set forth in the preamble to the Agreement. 

“Pool Assets” has the meaning set forth in Section 1.4(e) of the Agreement. 

“Pool Receivable” means a Receivable in the Receivables Pool. 

“Portion of Capital” means, with respect to any Purchaser and its Capital, any separate portion of such Capital being funded
or maintained by such Purchaser (or its successors or permitted assigns) by reference to a particular interest rate basis. In addition, at any time when such Capital is not divided into two or more such portions, “Portion of Capital” means
100% of such Capital. 

  
 I-26 

 “PPSA” means the Australian Personal Property Securities Act 2009 (Cth) and
includes any regulations made at any time under that Act. 
 “Pre-Review Australian
Contract” means, at any time of determination, any Australian Contract that satisfies both of the following: (i) any related Receivable has a stated maturity that is more than 15 days after the original invoice date of such Receivable
and (ii) such Australian Contract relates to two or more deliveries of goods. 
 “Pro Rata Share” means, as to any LC
Participant, a fraction, the numerator of which equals the Commitment of such LC Participant at such time and the denominator of which equals the aggregate of the Commitments of all LC Participants at such time. 

“Program Support Agreement” means and includes any Liquidity Agreement and any other agreement entered into by any Program
Support Provider providing for: (a) the issuance of one or more letters of credit for the account of any Conduit Purchaser, (b) the issuance of one or more surety bonds for which any Conduit Purchaser is obligated to reimburse the
applicable Program Support Provider for any drawings thereunder, (c) the sale by any Conduit Purchaser to any Program Support Provider of the Purchased Assets (or portions thereof) and/or (d) the making of loans and/or other extensions of
credit to any Conduit Purchaser in connection with such Conduit Purchaser’s securitization program contemplated in the Agreement, together with any letter of credit, surety bond or other instrument issued thereunder. 

“Program Support Provider” means and includes, with respect to any Conduit Purchaser, any Liquidity Bank and any other Person
(other than any customer of such Conduit Purchaser) now or hereafter extending credit or having a commitment to extend credit to or for the account of, or to make purchases from, such Conduit Purchaser pursuant to any Program Support Agreement. 

“Purchase Limit” means $250,000,000, as such amount may be reduced pursuant to Sections 1.1(c) or 1.12 of the
Agreement. References to the unused portion of the Purchase Limit shall mean, at any time, the Purchase Limit minus the sum of the Aggregate Capital plus the Aggregate LC Participation Amount. 

“Purchased Assets” has the meaning set forth in Section 1.3(b) of the Agreement. 

“Purchased Assets Coverage Percentage” means, at any time and subject to Section 1.5 of the
Agreement, the percentage computed as: 
 Aggregate Capital + Aggregate Adjusted LC Participation Amount + Total Reserves 

 
 Net Receivables Pool
Balance 
 The Purchased Assets Coverage Percentage shall be determined from time to time in accordance with
Section 1.5 of the Agreement. 
 “Purchaser” means each Conduit Purchaser, each Committed
Purchaser, the LC Bank and each LC Participant. 

  
 I-27 

 “Purchaser Agent” means each Person acting as agent on behalf of a Purchaser
Group and designated as a Purchaser Agent for such Purchaser Group on the signature pages to this Agreement or any other Person who becomes a party to this Agreement as a Purchaser Agent pursuant to an Assumption Agreement or a Transfer Supplement.

 “Purchaser Group” means, (i) for any Conduit Purchaser, such Conduit Purchaser, together with such Conduit
Purchaser’s Committed Purchasers, related Purchaser Agent and related LC Participants and (ii) for any other Purchaser that does not have a related Conduit Purchaser, such Purchaser, together with its Purchaser Agent and each other
Purchaser for which such Purchaser Agent acts as a Purchaser Agent hereunder and, in the case of PNC as a Purchaser, the LC Bank. 

“Purchasing Committed Purchaser” has the meaning set forth in Section 5.3(c) of the Agreement. 

“Qualifying Bill of Exchange” means a bill of exchange (i) the drawer of which is an Australian Originator,
(ii) the drawee of which is ArcelorMittal SCA, (iii) which has been duly accepted by the drawee in favor of the drawer and duly endorsed by the drawer to the order of BBVA, (iv) which has been discounted without recourse (or otherwise
sold, conveyed or transferred) to BBVA and (v) relates to ArcelorMittal Excluded Receivables. 
 “Qualifying One-Time Sale Proceeds” means the U.S. Dollar Equivalent of the sum of the net cash proceeds received by the Peabody Group from the sale of Peabody’s Australian Subsidiary, Metropolitan Mine, net
of transaction costs, any related repayment of debt in connection with such disposition and net of taxes paid or reasonably estimated to be payable as a result thereof. 

“Queensland Receivable” means a Receivable in respect of which the Obligor resides in Queensland for the purposes of the
Duties Act 2001 (Qld). 
 “Receivable” means (i) any Bill of Exchange Receivable and (ii) any indebtedness and
other obligations owed to the Seller (as assignee of the Contributor and each Originator), the Contributor or any Originator by, or any right of the Seller, the Contributor or any Originator to payment from or on behalf of, an Obligor, whether
constituting an account, chattel paper, instrument or general intangible, arising in connection with the sale of goods or the rendering of services by any Originator, and includes the obligation to pay any finance charges, fees and other charges
with respect thereto; provided, that (x) no ArcelorMittal Excluded Receivable shall constitute a Receivable, (y) no Affiliate Excluded Receivable shall constitute a Receivable and (z) no Australian Originator Excluded
Receivable shall constitute a Receivable. Indebtedness and other obligations arising from any one transaction, including indebtedness and other obligations represented by an individual invoice or agreement, shall constitute a Receivable separate
from a Receivable consisting of the indebtedness and other obligations arising from any other transaction. 
 “Receivables
Pool” means, at any time, all of the then outstanding Receivables purchased by or held on trust for the Seller pursuant to the Contribution Agreement prior to the Facility Termination Date. 

  
 I-28 

 “Recipient” means any Administrator, Purchaser or Purchaser Agent, as
applicable. 
 “Register” has the meaning set forth in Section 5.4(b)(vi) of the Agreement. 

“Reimbursement Obligation” has the meaning set forth in Section 1.16 of the Agreement. 

“Reinvestment” has the meaning set forth in Section 1.4(b) of the Agreement. 

“Related Security” means, 
  

	 	(a)	all of the Seller’s, the Contributor’s and each Originator’s interest in any goods (including returned goods), and documentation of title evidencing the shipment or storage of any goods (including
returned goods), relating to any sale giving rise to such Receivable, 

  

	 	(b)	all instruments and chattel paper that may evidence such Receivable, 

  

	 	(c)	all other security interests or liens and property subject thereto from time to time purporting to secure payment of such Receivable (including any Eligible Supporting Letter of Credit and any other supporting letter of
credit or any proceeds of any drawings thereunder), whether pursuant to the Contract related to such Receivable or otherwise, together with all UCC financing statements, PPSA financing statements or similar filings made against the relevant Obligor
relating thereto, and 

  

	 	(d)	all of the Seller’s, the Contributor’s and each Originator’s rights, interests and claims under the Contracts and all guaranties, indemnities, insurance and other agreements (including the related
Contract) or arrangements of whatever character from time to time supporting or securing payment of such Receivable or otherwise relating to such Receivable, whether pursuant to the Contract related to such Receivable or otherwise.

 “Reportable Compliance Event” means that any Covered Entity becomes a Sanctioned Person, or is charged by
indictment, criminal complaint or similar charging instrument, arraigned, or custodially detained in connection with any Anti-Terrorism Law or any predicate crime to any Anti-Terrorism Law, or has knowledge of facts or circumstances to the effect
that it is reasonably likely that any aspect of its operations is in actual or probable violation of any Anti-Terrorism Law. 

“Required LC Participants” means, at any time, the LC Participants whose Pro Rata Shares aggregate 66 2⁄3% or more. 
 “Responsible
Officer” means, with respect to each Originator, the Contributor, the Servicer, and the Seller, any president, vice president, treasurer, assistant treasurer, secretary, assistant secretary, chief financial officer, controller or any other
officer or director of any such Person charged with the responsibility for administration of any Transaction Document. 

  
 I-29 

 “Restricted Payments” has the meaning set forth in
Section 1(n) of Exhibit IV of the Agreement. 
 “Sale Agreements” means the Australian
Sale Agreement and the U.S. Sale Agreement. 
 “Sanctioned Country” means a country subject to a sanctions program
maintained under any Anti-Terrorism Law. 
 “Sanctioned Obligor” means an Obligor which (i) if a natural person, is
either (A) organized in or maintains its principal place of business in a Sanctioned Country or (B) a Sanctioned Person or (ii) if a corporation or other business organization, is organized under the laws of a Sanctioned Country or
any political subdivision thereof. 
 “Sanctioned Person” means any individual person, group, regime, entity or thing
listed or otherwise recognized as a specially designated, prohibited, sanctioned or debarred person, group, regime, entity or thing, or subject to any limitations or prohibitions (including but not limited to the blocking of property or rejection of
transactions), under any Anti-Terrorism Law. 
 “Seller” has the meaning set forth in the preamble to the Agreement. 

“Servicer” has the meaning set forth in the preamble to the Agreement. 

“Servicer Note” means that certain Amended and Restated Promissory Note, dated as of January 25, 2010, made by Peabody
in favor of the Seller, as the same may be amended from time to time. 
 “Servicing Fee” means the fee referred to in
Section 4.6 of the Agreement. 
 “Servicing Fee Rate” means the rate referred to in
Section 4.6 of the Agreement. 
 “Settlement Date” means with respect to any Portion of Capital
for any Settlement Period, (i) prior to the Facility Termination Date, the Monthly Settlement Date and (ii) on and after the Facility Termination Date, each day selected from time to time by the Administrator (with the consent or at the
direction of the Majority Purchaser Agents); it being understood that the Administrator may select such Settlement Date to occur as frequently as daily, or, in the absence of such selection, the Monthly Settlement Date. 

“Settlement Period” means: (a) before the Facility Termination Date, each period commencing on the second Business Day
prior to each Monthly Settlement Date and ending on (but not including) the second Business Day prior to the next Monthly Settlement Date, and (b) on and after the Facility Termination Date, such period (including a period of one day) as shall
be selected from time to time by the Administrator or, in the absence of any such selection, each period of 30 days from the last day of the preceding Settlement Period. 

  
 I-30 

 “Solvent” means, with respect to any Person at any time, a condition under
which: 
  

	(i)	the fair value and present fair saleable value of such Person’s total assets is, on the date of determination, greater than such Person’s total liabilities (including contingent and unliquidated liabilities)
at such time; 

  

	(ii)	the fair value and present fair saleable value of such Person’s assets is greater than the amount that will be required to pay such Person’s probable liability on its existing debts as they become absolute and
matured (“debts,” for this purpose, includes all legal liabilities, whether matured or unmatured, liquidated or unliquidated, absolute, fixed, or contingent); 

 

	(iii)	such Person is and shall continue to be able to pay all of its liabilities as such liabilities mature; and 

  

	(iv)	such Person does not have unreasonably small capital with which to engage in its current and in its anticipated business. 

For purposes of this definition: 

(A) the amount of a Person’s contingent or unliquidated liabilities at any time shall be that amount which, in light of
all the facts and circumstances then existing, represents the amount which can reasonably be expected to become an actual or matured liability; 

(B) the “fair value” of an asset shall be the amount which may be realized within a reasonable time either through
collection or sale of such asset at its regular market value; 
 (C) the “regular market value” of an asset shall
be the amount which a capable and diligent business person could obtain for such asset from an interested buyer who is willing to purchase such asset under ordinary selling conditions; and 

(D) the “present fair saleable value” of an asset means the amount which can be obtained if such asset is sold with
reasonable promptness in an arm’s-length transaction in an existing and not theoretical market. 

“Special Member” has the meaning set forth in Schedule A to the LLC Agreement. 

“Special Obligor” means the Navajo Project, for so long as, with respect to such Navajo Project, (a) the agreement among
the project participants requires that upon the default of any participant, the non-defaulting participants are required to cure any such default, and (b) Peabody represents and warrants that, to its
knowledge, the statement set forth in subsection (a) above is true, complete and correct. The Navajo Project shall be deemed to be a “Special Group A Obligor” hereunder for so long as such Navajo Project has at least one
project participant with the rating of a Group A Obligor; the Navajo Project shall be deemed to be a “Special Group B Obligor” hereunder for so long as such Navajo Project has at least one project participant with the rating of a
Group B Obligor (but no project participants with the rating of a Group A Obligor); the Navajo Project shall be deemed to be a “Special Group C Obligor” hereunder for so long as such Navajo Project has at least one project
participant with the rating of a Group C Obligor (but no project participants with the rating of a Group A Obligor or a Group B Obligor); 

  
 I-31 

 
and the Navajo Project shall be deemed to be a “Special Group D Obligor” hereunder for so long as such Navajo Project has no project participants with the rating of a Group A
Obligor, a Group B Obligor or a Group C Obligor. 
 “Special Obligor Group” means any one of the following: Special Group A
Obligor, Special Group B Obligor, Special Group C Obligor, or Special Group D Obligor. 
 “Spike Factor” means, for any
calendar month, (a) the positive difference, if any, between: (i) the highest Dilution Ratio for any one calendar month during the twelve most recent calendar months and (ii) the arithmetic average of the Dilution Ratios for such
twelve months times (b) (i) the highest Dilution Ratio for any one calendar month during the twelve most recent calendar months divided by (ii) the arithmetic average of the Dilution Ratios for such twelve months. 

“Spot Rate” means, on any day, for the purpose of determining the U.S. Dollar Equivalent of any amount denominated in
Australian Dollars, the exchange rate at which Australian Dollars may be exchanged into U.S. Dollars as set forth at approximately 11:00 a.m. New York City time, on such day as published on the Bloomberg Key Cross-Currency Rates Page for Australian
Dollars. In the event that such rate does not appear on any Bloomberg Key Cross Currency Rates Page, the Spot Rate shall be determined by reference to such other publicly available service for displaying exchange rates as may be selected by the
Administrator or, in the absence of such a selection or publicly available service, such Spot Rate shall instead be the arithmetic average of the spot rates of exchange of the Administrator in the market where its foreign currency exchange
operations in respect of Australian Dollars are then being conducted, at or about 11:00 a.m. New York time, on such date for the purchase of U.S. Dollars with the applicable currency for delivery two (2) Business Days later; provided
that if at the time of any such determination, for any reason, no such spot rate is being quoted, the Administrator may use any reasonable method it deems appropriate to determine such rate, and such determination shall be conclusive absent manifest
error. 
 “Standard Australian Contract” means a contract in substantially the form of the “Standard Coal Trading
Agreement” or the “Peabody Standard Terms”, copies of each of which are attached hereto as Schedule X, or a contract in substantially such other form as the Administrator approves in writing in its sole discretion. 

“Standard & Poor’s” means S&P Global Ratings, and any successor thereto that is a nationally
recognized statistical rating organization. 
 “Sub-Servicer” has the meaning set
forth in the preamble to this Agreement. 
 “Subsidiary” means, as to any Person, a corporation, partnership, limited
liability company or other entity of which shares of stock of each class or other interests having ordinary voting power (other than stock or other interests having such power only by reason of the happening of a contingency) to elect a majority of
the Board of Directors or other managers of such entity are at the time owned, or management of which is otherwise controlled: (a) by such Person, (b) by one or more Subsidiaries of such Person or (c) by such Person and one or more
Subsidiaries of such Person. 

  
 I-32 

 “Supported Outstanding Balance” means, for any Receivable at any time that is
supported in whole or in part by an Eligible Supporting Letter of Credit, the lesser of (a) the Outstanding Balance of such Receivable and (b) the U.S. Dollar Equivalent of the face amount of such Eligible Supporting Letter of Credit.

 “Taxes” has the meaning set forth in Section 5.4(b)(i) of this Agreement. 

“Termination Day” means: (a) each day on which the conditions set forth in Section 2 of
Exhibit II to the Agreement are not satisfied or (b) each day that occurs on or after the Facility Termination Date. 

“Termination Event” has the meaning specified in Exhibit V to the Agreement. 

“Termination Fee” means, for any Settlement Period during which a Termination Day occurs, the amount, if any, by which:
(a) the additional Discount (calculated without taking into account any Termination Fee or any shortened duration of such Settlement Period pursuant to the definition thereof) that would have accrued during such Settlement Period on the
reductions of Capital relating to such Settlement Period had such reductions not been made, exceeds (b) the income, if any, received by the applicable Purchaser from investing the proceeds of such reductions of Capital, as determined by the
applicable Purchaser Agent, which determination shall be binding and conclusive for all purposes, absent manifest error. 
 “Total
Reserves” means, at any time the sum of: (a) the Yield Reserve, plus (b) the greater of (i) the Performance Reserve or (ii) the sum of the Concentration Reserve plus the Dilution Component Reserve, plus
(c) the Australian Dollar AR Volatility Reserve plus (d) the Australian Dollar LC Volatility Reserve. 

“Transaction Documents” means the Agreement, the Lock-Box Agreements, the Fee
Letters, the Sale Agreements, the Contribution Agreement, the Originator Performance Guaranty, the Performance Guaranty, the Servicer Note, and all other certificates, instruments, UCC financing statements, PPSA financing statements, reports,
notices, agreements and documents executed or delivered under or in connection with the Agreement, in each case as the same may be amended, supplemented or otherwise modified from time to time in accordance with the Agreement. 

“Transfer Supplement” has the meaning set forth in Section 5.3(c) of the Agreement. 

“Trust Receivable” has the meaning given thereto in the Australian Sale Agreement. 

“TVA” means Tennessee Valley Authority, an Obligor of the Originators. 

“UCC” means the Uniform Commercial Code as from time to time in effect in the applicable jurisdiction. 

“Unmatured Termination Event” means an event that, with the giving of notice or lapse of time, or both, would constitute a
Termination Event. 

  
 I-33 

 “Unsupported Outstanding Balance” means, for any Receivable at any time,
(a) the then Outstanding Balance of such Receivable, less (b) the Supported Outstanding Balance for such Receivable. 

“U.S. Dollar Equivalent” means, on any date on which a determination thereof is to be made, with respect
to (a) any amount denominated in U.S. Dollars, such amount and (b) any amount denominated in Australian Dollars, the U.S. Dollar equivalent of such amount of Australian Dollars determined by reference to the Spot Rate determined as of
such determination date. 
 “U.S. Dollar LC Participation Amount” means at any time of determination,
the aggregate LC Participation Amount with respect to Letters of Credit denominated in U.S. Dollars. 
 “U.S. Dollars”,
“Dollars” and “$” each mean the lawful currency of the United States of America. 
 “U.S.
Originator” means each Person that is a party to the U.S. Sale Agreement as an “Originator” thereunder. 
 “U.S.
Originator Receivable” means each Receivable originated by a U.S. Originator. 
 “U.S. Sale Agreement” means the
Amended and Restated U.S. Purchase and Sale Agreement, dated as of the Closing Date, between the Contributor and the U.S. Originators as such agreement may be amended, amended and restated, supplemented or otherwise modified from time to time. 

“U.S. Sub-Servicer” has the meaning set forth in the preamble to this Agreement. 

“USA Patriot Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism Act of 2001, Public Law 107-56, as the same has been, or shall hereafter be, renewed, extended, amended or replaced. 

“Weekly Report” has the meaning set forth in Section 2(l)(iv) of Exhibit IV to the Agreement. 

“Yield Reserve” means, on any date, an amount equal to: (a) the sum of the Aggregate Capital plus the Aggregate Adjusted
LC Participation Amount at the close of business of the Seller on such date multiplied by (b) (i) the Yield Reserve Percentage on such date divided by (ii) 100% minus the Yield Reserve Percentage on such date. 

“Yield Reserve Percentage” means at any time: 
  

									
		 	 (BR+SFR)
	  	 × l.5 × DSO

		 	360	  	

  
 I-34 

 where: 
  

					
	 BR
	  	=	  	 the Base Rate computed for the most recent Settlement Period,

			
	 DSO
	  	=	  	 Days’ Sales Outstanding, and

			
	 SFR
	  	=	  	 the Servicing Fee Rate

 Other Terms. All accounting terms not specifically defined herein shall be construed in accordance with
generally accepted accounting principles. All terms used in Article 9 of the UCC in the State of New York, and not specifically defined herein, are used herein as defined in such Article 9. Unless the context otherwise requires, “or” means
“and/or,” and “including” (and with correlative meaning “include” and “includes”) means including without limiting the generality of any description preceding such term. 

  
 I-35 

 EXHIBIT II 

CONDITIONS PRECEDENT 

1.    Conditions Precedent to Effectiveness of this Agreement. The effectiveness of this Agreement is subject to
condition precedent that: 
 (a)    the Confirmation Order shall have been entered and shall not be subject to a stay or
have been reversed, modified or amended in a manner materially adverse to PNC and its Affiliates (other than as otherwise consented to in writing by the Administrator and each Purchaser); 

(b)    simultaneously with the effectiveness of this Agreement the Plan of Reorganization shall have become effective and
there shall not be any supplement, modification, waiver or amendment to Peabody’s debt and capital structure as contemplated by the Plan of Reorganization that is adverse in any material respect to the rights or interests of PNC and its
Affiliates, unless the Administrator has consented thereto in writing; 
 (c)    the Administrator and each Purchaser
Agent shall have received, on or before the Closing Date, each of the documents, instruments and opinions listed on the closing memorandum attached to this Agreement as Schedule VIII, each in form and substance (including the date thereof)
reasonably satisfactory to the Administrator and each Purchaser Agent; and 
 (d)    the Administrator shall have
received, on or before the Closing Date, evidence of payment by the Seller of all accrued and unpaid fees (including those contemplated by the Fee Letters), costs and expenses to the extent then due and payable on the date thereof, including any
such costs, fees and expenses arising under or referenced in Section 5.4 of the Agreement (including all Attorney Costs that have been invoiced at least three (3) Business Days prior to the Closing Date) and the Fee
Letters. 
 2.    Conditions Precedent to All Investments, Issuances of Letters of Credit and Reinvestments. Each
Investment and the issuance of any Letters of Credit and each Reinvestment shall be subject to the further conditions precedent that: 

(a)    in the case of each Investment and the issuance of any Letters of Credit, the Servicer shall have delivered to the
Administrator and each Purchaser Agent on or before such Investment or issuance, as the case may be, in form and substance satisfactory to the Administrator and each Purchaser Agent, a completed pro forma Information Package to reflect the level of
Aggregate Capital, the Aggregate LC Participation Amount and related reserves and the calculation of the Purchased Assets Coverage Percentage after such subsequent Investment or issuance, as the case may be, and a completed Investment Notice in the
form of Annex B; and 

  
 II-1 

 (b)    on the date of such Investment, issuance or Reinvestment, as the case
may be, the following statements shall be true (and acceptance of the proceeds of such Investment, issuance or Reinvestment shall be deemed a representation and warranty by the Seller that such statements are then true): 

(i) the representations and warranties contained in Exhibit III to the Agreement are true and correct in all material
respects on and as of the date of such Investment, issuance or Reinvestment as though made on and as of such date (except to the extent that such representations and warranties expressly relate to an earlier date, and in which case such
representations and warranties shall be true and correct in all material respects as of such earlier date); 
 (ii) no event
has occurred and is continuing, or would result from such Investment, issuance or Reinvestment, that constitutes a Termination Event; 

(iii) solely in the case of any Investment (but not Reinvestment) or any such issuance, no Unmatured Termination Event shall
exist and be continuing; 
 (iv) the sum of the Aggregate Capital plus the Aggregate LC Participation Amount, after giving
effect to any such Investment, issuance or Reinvestment, as the case may be, shall not exceed the Purchase Limit; 
 (v)
after giving effect to any such Investment, issuance or Reinvestment, as the case may be, the Purchased Assets Coverage Percentage shall not exceed 100%; and 

(vi) the Facility Termination Date shall not have occurred. 

Notwithstanding anything to the contrary set forth herein or in any other Transaction Document, the LC Bank shall be under no obligation to
issue Letters of Credit requested by the Seller which are denominated in Australian Dollars if the LC Bank notifies the Seller on or prior to the date of such issuance that the issuance of such Letter of Credit, or the funding of any draw thereunder
has been made or, in the case of a draw, would be made, impracticable or unlawful by compliance by the LC Bank in good-faith with any Applicable Law or any request or directive of any Governmental Authority (whether or not having the force of law).

  
 II-2 

 EXHIBIT III 

REPRESENTATIONS AND WARRANTIES 

1.    Representations and Warranties of the Seller. The Seller represents and warrants as follows: 

(a)    The Seller is a limited liability company duly organized, validly existing and in good standing under the laws of
the State of Delaware, and is duly qualified to do business and is in good standing as a foreign limited liability company in every jurisdiction where the nature of its business requires it to be so qualified, except where the failure to be so
qualified would not have a Material Adverse Effect. 
 (b)    The execution, delivery and performance by the Seller of
the Agreement and the other Transaction Documents to which it is a party, including its use of the proceeds of Investments and Reinvestments: (i) are within its organizational powers; (ii) have been duly authorized by all necessary
organizational action; (iii) do not contravene or result in a default under or conflict with: (A) its certificate of formation or any other organizational document of the Seller, (B) any law, rule or regulation applicable to it,
(C) any indenture, loan agreement, mortgage, deed of trust or other material agreement or instrument to which it is a party or by which it is bound, or (D) any order, writ, judgment, award, injunction or decree binding on or affecting it
or any of its property; and (iv) do not result in or require the creation of any Adverse Claim upon or with respect to any of its properties. The Agreement and the other Transaction Documents to which it is a party have been duly executed and
delivered by the Seller. 
 (c)    No authorization, approval or other action by, and no notice to or filing with, any
Governmental Authority or other Person is required for its due execution, delivery and performance by the Seller of the Agreement or any other Transaction Document to which it is a party, other than the Uniform Commercial Code filings referred to in
Exhibit II to the Agreement, all of which shall have been filed on or before the Closing Date. 
 (d)    Each of
the Agreement and the other Transaction Documents to which the Seller is a party constitutes its legal, valid and binding obligation enforceable against the Seller in accordance with its terms, except as enforceability may be limited by bankruptcy,
insolvency, reorganization or other similar laws from time to time in effect affecting the enforcement of creditors’ rights generally and by general principles of equity, regardless of whether such enforceability is considered in a proceeding
in equity or at law. 
 (e)    There is no pending or, to Seller’s best knowledge, threatened action or proceeding
affecting Seller or any of its properties before any Governmental Authority or arbitrator. 
 (f)    No proceeds of any
Investment or Reinvestment will be used to acquire any equity security of a class that is registered pursuant to Section 12 of the Securities Exchange Act of 1934. 

(g)    The Seller is the beneficial owner of, and, except with respect to any Australian Originator Receivable, is the
legal owner and has good and marketable title to, the Pool 

  
 III-1 

 
Receivables, the Lock-Box Accounts (and related lock-boxes) (except as permitted by Section 5.21) and Related Security, free and
clear of any Adverse Claim. Upon each Investment or Reinvestment, the Administrator (on behalf of the Purchasers) shall acquire a valid and enforceable perfected ownership or security interest in each Pool Receivable then existing or thereafter
arising and in the Related Security, Collections and other proceeds with respect thereto, free and clear of any Adverse Claim. The Agreement creates a valid and continuing ownership or security interest (as defined in the applicable UCC or PPSA) in
favor of the Administrator in the Pool Assets and the Lock-Box Accounts (and related lock-boxes), which ownership or security interest is prior to all other Adverse Claims, and is enforceable as such against
creditors of and purchasers from the Seller. The Pool Assets constitute “accounts”, “general intangibles” or “tangible chattel paper” within the meaning of the applicable UCC. Each
Lock-Box Account constitutes a “deposit account” within the meaning of the applicable UCC. The Seller has caused or will have caused, within ten (10) days, the filing of all appropriate UCC or
PPSA financing statements in the proper filing offices in the appropriate jurisdictions under Applicable Laws in order to perfect the ownership or security interest in the Pool Assets and the Lock-Box Accounts
(and related lock-boxes) (except as permitted by Section 5.21) granted to the Administrator (on behalf of the Purchasers) hereunder. Other than the ownership or security interest granted to the Administrator (on behalf of
the Purchasers) pursuant to this Agreement, Seller has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Pool Assets or the Lock-Box Accounts (and related
lock-boxes). Seller has not authorized the filing of and is not aware of any UCC financing statements against Seller that include a description of collateral covering the Pool Assets, other than any UCC financing statement relating to the security
interest granted to the Administrator (on behalf of the Purchasers) hereunder or that has been terminated. Seller is not aware of any judgment, ERISA or tax lien filings against the Seller. With respect to any Pool Receivable that constitutes
“tangible chattel paper”, the Servicer is in possession of the original copies of the tangible chattel paper that constitutes or evidences such Pool Receivables, and the Seller has filed the financing statements described in this section
above, each of which will contain a statement that “A purchase of or a grant of a security interest in any property described in this financing statement will violate the rights of the Administrator.” The Pool Receivables to the extent
they are evidenced by “tangible chattel paper” do not have any marks or notations indicating that they have been pledged, assigned or otherwise conveyed to any Person other than the Seller or the Administrator (on behalf of the
Purchasers). 
 (h)    Each Information Package and Interim Report (if prepared by the Seller or one of its Affiliates,
or to the extent that information contained therein is supplied by the Seller or one of its Affiliates), information, exhibit, financial statement, document, book, record or report furnished or to be furnished at any time by or on behalf of the
Seller to the Administrator or any Purchaser Agent in connection with the Agreement or any other Transaction Document to which it is a party is or will be complete and accurate in all material respects as of its date or (except as otherwise
disclosed to the Administrator or such Purchaser Agent, as applicable, at such time) as of the date so furnished. 

(i)    The Seller’s principal place of business, chief executive office and state of formation (as such terms are
used in the UCC) and the office where it keeps its records concerning the Receivables are located at the address referred to in Sections l(b) and 2(b) of Exhibit IV to the Agreement. 

  
 III-2 

 (j)    The names and addresses of all the
Lock-Box Banks, together with the account numbers of the Lock-Box Accounts at such Lock-Box Banks, are specified in Schedule
II to the Agreement (or at such other Lock-Box Banks and/or with such other Lock-Box Accounts as have been notified to the Administrator in accordance with the
Agreement) and all Lock-Box Accounts are subject to Lock-Box Agreements (or will be subject to Lock-Box Agreements in accordance
with Section 5.21 within the time period specified therein). Except as set forth in Section 5.21, with respect to all Lock-Box Accounts (and related
lock-boxes), the Seller has delivered to the Administrator, on behalf of the Purchasers, a fully executed Lock-Box Agreement pursuant to which the applicable Lock-Box
Bank has agreed to comply with all instructions given by the Administrator with respect to all funds on deposit in such Lock-Box Account (and all funds sent to the respective
lock-box), without further consent by the Seller or the Servicer. Except as set forth in Section 5.21, none of the Lock-Box Accounts (and the
related lock-boxes) are in the name of any Person other than the Seller or the Administrator (on behalf of the Purchasers). The Seller has not consented to any Lock-Box Bank’s complying with instructions
of any person other than the Administrator. 
 (k)    The Seller is not in violation of any order of any court,
arbitrator or Governmental Authority. 
 (l)    No proceeds of any Investment or Reinvestment will be used for any
purpose that violates any Applicable Law, including Regulations T, U or X of the Federal Reserve Board. 
 (m)    Each
Pool Receivable included as an Eligible Receivable in the calculation of the Net Receivables Pool Balance is an Eligible Receivable. 

(n)    No event has occurred and is continuing, or would result from an Investment or Reinvestment or from the application
of the proceeds therefrom, that constitutes a Termination Event or an Unmatured Termination Event. 
 (o)    On the
Closing Date, the Purchased Assets will be included on the consolidated balance sheet of Peabody for purposes of GAAP. 

(p)    The Seller has complied in all material respects with the Credit and Collection Policy of the Originators with
regard to each Receivable originated by the Originators. 
 (q)    The Seller has complied in all material respects with
all of the terms, covenants and agreements contained in the Agreement and the other Transaction Documents that are applicable to it. 

(r)    The Seller’s complete organizational name is set forth in the preamble to the Agreement, and it does not use
and has not during the last six years used any other organizational name, trade name, doing-business name or fictitious name, except as set forth on Schedule III to the Agreement and except for names first used after the date of the
Agreement and set forth in a notice delivered to the Administrator pursuant to Section 1(1)(iv) of Exhibit IV to the Agreement. 

  
 III-3 

 (s)    The Seller is not (i) required to register as an “investment
company” or a company “controlled” by an “investment company” within the meaning of the Investment Company Act of 1940, as amended (the “Investment Company Act”), or (ii) a “covered fund”
under Section 13 of the U.S. Bank Holding Company Act of 1956, as amended, and the applicable rules and regulations thereunder. In reaching such determination, the Seller is entitled to rely on the exemption from the definition of
“investment company” set forth in Section 3(c)(5) of the Investment Company Act. 
 (t)    No Covered Entity
is a Sanctioned Person. No Covered Entity, either in its own right or through any third party, (i) has any of its assets in a Sanctioned Country or in the possession, custody or control of a Sanctioned Person in violation of any Anti-Terrorism
Law; (ii) does business in or with, or derives any of its income from investments in or transactions with, any Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law; or (iii) engages in any dealings or transactions
prohibited by any Anti-Terrorism Law. 
 (u)    The Seller has not issued any LCR Securities, and the Seller is a
consolidated subsidiary of Peabody under GAAP. 
 (v)    There are no mortgages that are effective as financing
statements covering as-extracted collateral that constitutes Purchased Assets and that name any Originator (or, if such Originator is not the “record owner” of the underlying property, any
“record owner” with respect to such as-extracted collateral, as such term is used in the UCC) as grantor, debtor or words of similar effect filed or recorded in any jurisdiction. 

(w)    The Seller is not required to account to any Governmental Authority for any value added or similar Tax in respect
of the sale by it of any Receivable and no withholding or other Tax is deductible or payable on any payment made by an Obligor with respect to any Receivable. 

2.    Representations and Warranties of Peabody (including in its capacity as the Servicer). Peabody, individually
and in its capacity as the Servicer, represents and warrants jointly and severally as follows: 
 (a)    Peabody is a
corporation duly formed, validly existing and in good standing under the laws of the State of Delaware, and is duly qualified to do business and is in good standing as a foreign corporation in every jurisdiction where the nature of its business
requires it to be so qualified, except where the failure to be so qualified would not have a Material Adverse Effect. 

(b)    The execution, delivery and performance by Peabody of the Agreement and the other Transaction Documents to which it
is a party, including the Servicer’s use of the proceeds of Investments and Reinvestments: (i) are within its organizational powers; (ii) have been duly authorized by all necessary organizational action; (iii) do not contravene
or result in a default under or conflict with: (A) its certificate of incorporation or any other organizational document of Peabody, (B) any law, rule or regulation applicable to it, (C) any indenture, loan agreement, mortgage, deed
of trust or other material agreement or instrument to which it is a party or by 

  
 III-4 

 
which it is bound, or (D) any order, writ, judgment, award, injunction or decree binding on or affecting it or any of its property; and (iv) do not result in or require the creation of
any Adverse Claim upon or with respect to any of its properties. The Agreement and the other Transaction Documents to which Peabody is a party have been duly executed and delivered by Peabody. 

(c)    No authorization, approval or other action by, and no notice to or filing with any Governmental Authority or other
Person, is required for the due execution, delivery and performance by Peabody of the Agreement or any other Transaction Document to which it is a party. 

(d)    Each of the Agreement and the other Transaction Documents to which Peabody is a party constitutes the legal, valid
and binding obligation of Peabody enforceable against Peabody in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws from time to time in effect affecting the enforcement
of creditors’ rights generally and by general principles of equity, regardless of whether such enforceability is considered in a proceeding in equity or at law. 

(e)    The consolidated balance sheets of Peabody and its Subsidiaries as of December 31, 2016, and the related
consolidated statements of operations, comprehensive income, change in stockholders’ equity, and cash flows for the fiscal year then ended, copies of which have been furnished to the Administrator, fairly present in all material respects the
consolidated financial position of Peabody and its Subsidiaries as at such date and the consolidated results of operations of Peabody and its Subsidiaries for the period ended on such date, all in accordance with United States generally accepted
accounting principles consistently applied. 
 (f)    Except as disclosed in the most recent audited financial
statements of Peabody furnished to the Administrator, there is no pending or, to its best knowledge, threatened action or proceeding affecting it or any of its Subsidiaries before any Governmental Authority or arbitrator that is reasonably likely to
have a Material Adverse Effect. 
 (g)    No proceeds of any Investment or Reinvestment will be used to acquire any
equity security of a class that is registered pursuant to Section 12 of the Securities Exchange Act of 1934. No proceeds of any Investment or Reinvestment will be used for any purpose that violates any Applicable Law, including Regulations T, U
or X of the Federal Reserve Board. 
 (h)    Each Information Package and Interim Report (if prepared by Peabody or one
of its Affiliates, or to the extent that information contained therein is supplied by Peabody or an Affiliate), information, exhibit, financial statement, document, book, record or report furnished or to be furnished at any time by or on behalf of
the Servicer to the Administrator or any Purchaser Agent in connection with the Agreement is or will be complete and accurate in all material respects as of its date or (except as otherwise disclosed to the Administrator or such Purchaser Agent, as
applicable, at such time) as of the date so furnished. 
 (i)    The principal place of business, chief executive office
and state of formation (as such terms are used in the UCC) of Peabody and the office where it keeps its records concerning the Receivables are located at the address referred to in Section 2(b) of Exhibit IV to the Agreement. 

  
 III-5 

 (j)    Peabody is not in violation of any order of any court, arbitrator or
Governmental Authority, which is reasonably likely to have a Material Adverse Effect. 
 (k)    The Servicer has
complied in all material respects with the Credit and Collection Policy of the Originators with regard to each Receivable originated by the Originators. 

(l)    Peabody has complied in all material respects with all of the terms, covenants and agreements contained in the
Agreement and the other Transaction Documents that are applicable to it. 
 (m)    Peabody is not an “investment
company,” or a company “controlled” by an “investment company” within the meaning of the Investment Company Act of 1940, as amended. 

(n)    No Covered Entity is a Sanctioned Person. No Covered Entity, either in its own right or through any third party,
(i) has any of its assets in a Sanctioned Country or in the possession, custody or control of a Sanctioned Person in violation of any Anti-Terrorism Law; (ii) does business in or with, or derives any of its income from investments in or
transactions with, any Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law; or (iii) engages in any dealings or transactions prohibited by any Anti-Terrorism Law.  

(o)    The agreement among the project participants of the Navajo Project requires that upon the default of any
participant, the non-defaulting participants are required to cure any such default. 

(p)    There are no mortgages that are effective as financing statements covering
as-extracted collateral that constitutes Purchased Assets and that name any Originator (or, if such Originator is not the “record owner” of the underlying property, any “record owner” with
respect to such as-extracted collateral, as such term is used in the UCC) as grantor, debtor or words of similar effect filed or recorded in any jurisdiction. 

(q)    The Confirmation Order is in full force and effect and has not been vacated or reversed, is not subject to a stay,
and has not been modified or amended in a manner adverse to PNC and its Affiliates in any material respect (other than any amendment or modification approved in writing by the Administrator and the Majority Purchaser Agents (such consent not to be
unreasonably withheld, delayed or conditioned)). 

  
 III-6 

 EXHIBIT IV 

COVENANTS 

1.    Covenants of the Seller. Until the Final Payout Date: 

(a)    Compliance with Laws, Etc. The Seller shall comply in all material respects with all Applicable Laws and
preserve and maintain its organizational existence, rights, franchises, qualifications and privileges, except to the extent that the failure so to comply with such laws, rules, regulations and orders or the failure so to preserve and maintain such
rights, franchises, qualifications and privileges would not have a Material Adverse Effect. 
 (b)    Offices,
Records and Books of Account, Etc. The Seller: (i) shall keep its principal place of business, chief executive office and state of formation (as such terms or similar terms are used in the UCC) and the office where it keeps its records
concerning the Receivables at the address of the Seller set forth on Schedule IV or, pursuant to clause (1)(iv) below, at any other locations in jurisdictions where all actions reasonably requested by the Administrator to protect and
perfect the interest of the Administrator in the Receivables and related items (including the Pool Assets) have been taken and completed and (ii) shall provide the Administrator with at least 30 days’ written notice before making any
change in the Seller’s name or making any other change in the Seller’s identity or organizational structure (including a Change in Control) that could render any UCC financing statement filed in connection with this Agreement
“seriously misleading” as such term (or similar term) is used in the UCC; each notice to the Administrator pursuant to this sentence shall set forth the applicable change and the effective date thereof. The Seller also will maintain and
implement (or cause the Servicer to maintain and implement) administrative and operating procedures (including an ability to recreate records evidencing Receivables and related Contracts in the event of the destruction of the originals thereof), and
keep and maintain (or cause the Servicer to keep and maintain) all documents, books, records, computer tapes and disks and other information reasonably necessary or advisable for the collection of all Receivables (including records adequate to
permit the daily identification of each Receivable and all Collections of and adjustments to each existing Receivable). Notwithstanding the above, in no event shall the Seller have or maintain, or be a partner in any partnership that has or
maintains, its jurisdiction of organization, principal place of business or principal assets in any of the states of Colorado, Kansas, New Mexico, Oklahoma, Utah or Wyoming. 

(c)    Performance and Compliance with Contracts and Credit and Collection Policy. The Seller shall (and shall
cause the Servicer to), at its expense, timely and fully perform and comply with all material provisions, covenants and other promises required to be observed by it under the Contracts related to the Receivables, and timely and fully comply in all
material respects with the applicable Credit and Collection Policy with regard to each Receivable and the related Contract. 

(d)    Ownership Interest, Etc. The Seller shall (and shall cause the Servicer to), at its expense, take all action
necessary or desirable to establish and maintain a valid and enforceable ownership or security interest in the Pool Receivables, the Related Security and Collections with respect thereto (or with respect to any Australian Originator Receivable, the
Seller’s beneficial 

  
 IV-1 

 
interest in the Pool Receivables, the Related Security and Collections with respect thereto), and a first priority perfected ownership or security interest in the Pool Assets, in each case free
and clear of any Adverse Claim, in favor of the Administrator (on behalf of the Purchasers), including taking such action to perfect, protect or more fully evidence the interest of the Administrator (on behalf of the Purchasers), as the
Administrator, may reasonably request. The Seller shall from time to time and within the time limits established by law prepare and present to the Administrator for the Administrator’s authorization and approval all financing statements,
amendments, continuations or initial financing statements in lieu of a continuation statement, or other filings necessary to continue, maintain and perfect the Administrator’s (on behalf of the Purchasers) ownership or security interest in the
Pool Assets as a first-priority interest. The Administrator’s approval of such filings shall authorize the Seller to file such financing statements under the UCC without the signature of the Seller, or the Administrator, any Purchaser Agent or
any Purchaser where allowed by Applicable Law. Notwithstanding anything else in the Transaction Documents to the contrary, neither the Seller, the Servicer nor any other Person shall have any authority to file a termination, partial termination,
release or partial release or any amendment that deletes the name of a debtor or excludes collateral of any such financing statements without the prior written consent of the Administrator. 

(e)    Sales, Liens, Etc. The Seller shall not sell, assign (by operation of law or otherwise) or otherwise dispose
of, or create or suffer to exist any Adverse Claim upon or with respect to, any or all of its right, title or interest in, to or under any Pool Assets (including the Seller’s interest in any Receivable, Related Security or Collections, or upon
or with respect to any account to which any Collections of any Receivables are sent), or assign any right to receive income in respect of any items contemplated by this paragraph. 

(f)    Extension or Amendment of Receivables. Except as provided in the Agreement, the Seller shall not, and shall
not permit the Servicer to, alter the delinquency status or adjust the Outstanding Balance or otherwise modify the terms of any Pool Receivable in any material respect, or amend, modify or waive, in any material respect, any term or condition of any
related Contract (which term or condition relates to payments under, or the enforcement of, such Contract). 

(g)    Change in Business or Credit and Collection Policy. Without the prior written consent of the Administrator
and each Purchaser Agent, the Seller shall not make (or permit the Originators to make) any material change in the character of its business or in any Credit and Collection Policy, or any change in any Credit and Collection Policy that would have a
Material Adverse Effect with respect to the Receivables. The Seller shall not make (or permit the Originators to make) any other change in any Credit and Collection Policy without giving 30 days’ prior written notice thereof to the
Administrator and each Purchaser Agent. 
 (h)    Audits. The Seller shall (and shall cause the Originators to),
from time to time during regular business hours as reasonably requested in advance (unless a Termination Event or Unmatured Termination Event exists) by the Administrator, permit the Administrator or its agents or representatives: (i) to
examine and make copies of and abstracts from all books, records and documents (including computer tapes and disks) in the possession or under the control of the Seller (or the Originators) relating to Receivables and the Related Security,

  
 IV-2 

 
including the related Contracts, (ii) to examine Australian Originator Contracts and the Related Security to determine whether the related Receivables identified as Eligible Receivables in
the Information Packages and Interim Reports delivered under this Agreement satisfy each of the applicable eligibility criteria, (iii) to visit the offices and properties of the Seller and the Originators for the purpose of examining such
materials described in clause (i) and (ii) above, and to discuss matters relating to Receivables and the Related Security or the Seller’s, Peabody’s or any Originator’s performance under the Transaction Documents or
under the Contracts with any of the officers, employees, agents or contractors of the Seller, Peabody or any Originator having knowledge of such matters and (iv) without limiting the clauses (i), (ii) and (iii) above,
to engage certified public accountants or other auditors acceptable to the Seller and the Administrator to conduct, at the Seller’s expense, a review of the Seller’s books and records with respect to such Receivables, provided, that
at any time when no Termination Event exists and is continuing, the Seller shall be required to reimburse the Administrator for only one (1) such audit (or, at any time following the occurrence of a Minimum Cash Liquidity Event, two
(2) such audits) per year. 
 (i)    Change in Lock-Box Banks, Lock-Box Accounts and Payment Instructions to Obligors. The Seller shall not, and shall not permit the Servicer or any Originator to, add or terminate any bank as a
Lock-Box Bank or any account as a Lock-Box Account from those listed in Schedule II to the Agreement (other than as permitted by
Section 5.21), or make any change in its instructions to Obligors regarding payments to be made to the Seller, any Originator, the Servicer or any Lock-Box Account (or related post
office box), unless the Administrator shall have received ten (10) days prior written notice of assignment to a Permitted Lock-Box Bank and the Administrator shall have received copies of all agreements
and documents (including Lock-Box Agreements) that it may request in connection therewith. 

(j)    Deposits to Lock-Box Accounts. Subject to
Section 5.21, the Seller shall (or shall cause the Servicer to): (i) instruct all Obligors (or in the case of Peabody Coppabella, its agent) to make payments of all Receivables to one or more Lock-Box Accounts or to post office boxes to which only Lock-Box Banks have access (and shall instruct the Lock-Box Banks to cause all
items and amounts relating to such Receivables received in such post office boxes to be removed and deposited into a Lock-Box Account on a daily basis), and (ii) deposit, or cause to be deposited, any
Collections received by it, the Servicer or any Originator into Lock-Box Accounts not later than two (2) Business Days after receipt thereof (or in the case of Peabody Coppabella, cause Peabody Coppebella
or its agent to deposit any Collections received by Peabody Coppabella or its agent into a Lock-Box Account as soon as possible and not later than five (5) Business Days after receipt thereof). Each Lock-Box Account shall at all times be subject to a Lock-Box Agreement. The Seller will, unless otherwise agreed in writing by the Administrator, instruct each Originator, in
its capacity as the beneficiary (or prospective beneficiary) of an Eligible Supporting Letter of Credit, to instruct the related Eligible Supporting Letter of Credit Provider to make payments in respect of Eligible Supporting Letters of Credit
issued (or confirmed by) such Eligible Supporting Letter of Credit Provider directly to a Lock-Box Account if the Servicer fails to do so and, if an Eligible Supporting Letter of Credit Provider fails to so
deliver payments to a Lock-Box Account, the Seller will, unless otherwise agreed in writing by the Administrator, use all reasonable efforts to cause the applicable Originator to cause such Eligible Supporting
Letter of Credit Provider to deliver subsequent payments (if any) 

  
 IV-3 

 
in respect of Eligible Supporting Letters of Credit issued (or confirmed by) such Eligible Supporting Letter of Credit Provider directly to a Lock-Box
Account if the Servicer fails to do so. Subject to Section 5.21, the Seller will not (and will not permit the Servicer to) deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock-Box Account cash or cash proceeds other than Collections. 
 (k)    Marking of
Records. At its expense, the Seller shall: (i) mark (or cause the Servicer to mark) its master data processing records relating to Pool Receivables and related Contracts, including with a legend evidencing that the Receivables and Related
Security included in the Purchased Assets have been sold in accordance with the Agreement, and (ii) cause each Originator so to mark its master data processing records pursuant to the applicable Sale Agreement. 

(l)    Reporting Requirements. The Seller will provide to the Administrator and each Purchaser Agent (in multiple
copies, if requested by the Administrator or any Purchaser Agent) the following: 
 (i)    as soon as
available and in any event within 120 days after the end of each fiscal year of the Seller, a copy of the financial statements for such year for the Seller, certified as to accuracy by a Responsible Officer of the Seller; 

(ii)    as soon as possible and in any event within five days after the occurrence of each
Termination Event or Unmatured Termination Event, a statement of a Responsible Officer of the Seller setting forth details of such Termination Event or Unmatured Termination Event and the action that the Seller has taken and proposes to take with
respect thereto; 
 (iii)    promptly after the filing or receiving thereof, copies of all reports and
notices that the Seller or any ERISA Affiliate files under ERISA with the Internal Revenue Service, the Pension Benefit Guaranty Corporation or the U.S. Department of Labor or that the Seller or any ERISA Affiliate receives from any of the foregoing
or from any multiemployer plan (within the meaning of Section 400l(a)(3) of ERISA) to which the Seller or any of its ERISA Affiliates is or was, within the preceding five years, a contributing employer, in each case in respect of the assessment of
withdrawal liability or an event or condition that could, in the aggregate, result in the imposition of liability on the Seller and/or any such ERISA Affiliate; 

(iv)    at least thirty days before any change in the Seller’s name or any other change
requiring the amendment of UCC financing statements, a notice setting forth such changes and the effective date thereof; 

(v)    promptly after any Responsible Officer of the Seller obtains knowledge thereof, notice of any:
(A) material litigation, investigation or proceeding that may exist at any time between the Seller and any Person or (B) material litigation or proceeding relating to any Transaction Document; 

  
 IV-4 

 (vi)    promptly after the occurrence thereof, notice of a
material adverse change in the business, operations, property or financial or other condition of the Seller, the Servicer or the Originator; 

(vii)    at least forty-five (45) days’ prior written notice if the Purchased Assets will not be
included on the consolidated balance sheet of Peabody for purposes of GAAP and 
 (viii)    such other
information respecting the Receivables or the condition or operations, financial or otherwise, of the Seller or any of its Affiliates as the Administrator or any Purchaser Agent may from time to time reasonably request. 

(m)    Certain Agreements. Without the prior written consent of the Administrator and the Majority Purchaser
Agents, the Seller will not (and will not permit the Originators to) amend, modify, waive, revoke or terminate any Transaction Document to which it is a party or any provision of Seller’s certificate of formation or other organizational
document of the Seller. 
 (n)     Restricted Payments. (i) Except pursuant to clause
(ii) below, the Seller will not: (A) purchase or redeem any shares of its capital stock, (B) declare or pay any dividend or set aside any funds for any such purpose, (C) prepay, purchase or redeem any Debt, (D) lend or
advance any funds or (E) repay any loans or advances to, for or from any of its Affiliates (the amounts described in clauses (A) through (E) being referred to as “Restricted Payments”). 

(ii)    Subject to the limitations set forth in clause (iii) below, the Seller may make
Restricted Payments so long as such Restricted Payments are made only in the following way: the Seller may declare and pay distributions and make loans and advances to Peabody (provided that any such loans and advances shall be treated as a dividend
within no less than 30 days following the making thereof). 
 (iii)    The Seller may make Restricted
Payments only out of the funds it receives pursuant to Sections 1.6(b)(ii) and (iv) and 1.6(d) of the Agreement. Furthermore, the Seller shall not pay, make or declare: (A) any distributions, loans or advances if,
after giving effect thereto, the Seller’s tangible net worth would be less than $10,000,000, or (B) any Restricted Payment (including any dividend) if, after giving effect thereto, any Termination Event or Unmatured Termination Event shall
have occurred and be continuing. 
 (o)    Other Business. The Seller will not: (i) engage in any business
other than the transactions contemplated by the Transaction Documents; (ii) create, incur or permit to exist any Debt of any kind (or cause or permit to be issued for its account any letters of credit or bankers’ acceptances) other than
pursuant to this Agreement or any Company Note; or (iii) form any Subsidiary or make any investments in any other Person; provided, however, that the Seller shall be permitted to incur minimal obligations to the extent necessary
for the day-to-day operations of the Seller (such as expenses for stationery, audits, maintenance of legal status, etc.). 

(p)    Use of Collections. The Seller shall apply the Collections that are available to the Seller in accordance
with the Agreement to make payments in the following order of priority: 

  
 IV-5 

 
(i) the payment of its expenses (including all obligations payable to the Purchasers, the Purchaser Agents and the Administrator under the Agreement and under the Fee Letters); (ii) the
payment of accrued and unpaid interest on any Company Note; and (iii) other legal and valid organizational purposes. 

(q)    Tangible Net Worth. The Seller will not permit its tangible net worth, at any time, to be less than
$10,000,000. 
 (r)    Anti-Money Laundering/International Trade Law Compliance. No Covered Entity will become a
Sanctioned Person. No Covered Entity, either in its own right or through any third party, will (a) have any of its assets in a Sanctioned Country or in the possession, custody or control of a Sanctioned Person in violation of any Anti-Terrorism
Law; (b) do business in or with, or derive any of its income from investments in or transactions with, any Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law; (c) engage in any dealings or transactions
prohibited by any Anti-Terrorism Law or (d) use the proceeds of any Investment to fund any operations in, finance any investments or activities in, or, make any payments to, a Sanctioned Country or Sanctioned Person in violation of any
Anti-Terrorism Law. The funds used to repay Seller’s obligations under this Agreement and each of the other Transaction Documents will not be derived from any unlawful activity. Each Covered Entity shall comply with all Anti-Terrorism Laws.
Seller shall promptly notify the Administrator in writing upon the occurrence of a Reportable Compliance Event. 

(s)    LCR Security. The Seller shall not issue any LCR Security. 

2.    Covenants of the Servicer and Peabody. Until the Final Payout Date: 

(a)    Compliance with Laws, Etc. The Servicer and, to the extent that it ceases to be the Servicer, Peabody shall
comply (and shall cause the Originators to comply) in all material respects with all Applicable Law and preserve and maintain its organizational existence, rights, franchises, qualifications and privileges, except to the extent that the failure so
to comply with such laws, rules and regulations or the failure so to preserve and maintain such existence, rights, franchises, qualifications and privileges would not have a Material Adverse Effect. 

(b)    Offices, Records and Books of Account, Etc. The Servicer and, to the extent that it ceases to be the
Servicer, Peabody, (i) shall keep its principal place of business, chief executive office and state of formation (as such terms or similar terms are used in the applicable UCC) and the office where it keeps its records concerning the
Receivables at the address of the Servicer set forth on Schedule IV and (ii) shall cause Peabody Holding Company, LLC and each U.S. Originator to keep its state of formation (as such term is defined in the applicable UCC) and the office
where it keeps its records concerning the Receivables at the applicable address set forth on Schedule IV, in the case of Peabody Holding Company, LLC, and Exhibit E to the U.S. Sale Agreement, in the case of any U.S. Originator, or, in
the case of either sub-clause (i) or (ii) of this clause (b), upon at least 30 days’ prior written notice of a proposed change to the Administrator, at any other locations in
jurisdictions where all actions reasonably requested by the Administrator to protect and perfect the interest of the Administrator in the Receivables and related items (including the Pool Assets) have been taken and completed. The Servicer and, to

  
 IV-6 

 
the extent that it ceases to be the Servicer, Peabody, also will (and will cause the Originators to) maintain and implement administrative and operating procedures (including an ability to
recreate records evidencing Receivables and related Contracts in the event of the destruction of the originals thereof), and keep and maintain all documents, books, records, computer tapes and disks and other information reasonably necessary or
advisable for the collection of all Receivables (including records adequate to permit the daily identification of each Receivable and all Collections of and adjustments to each existing Receivable). 

(c)    Performance and Compliance with Contracts and Credit and Collection Policy. The Servicer and, to the
extent that it ceases to be the Servicer, Peabody, shall (and shall cause the Originators to), at its expense, timely and fully perform and comply with all material provisions, covenants and other promises required to be observed by it under the
Contracts related to the Receivables, and timely and fully comply in all material respects with the Credit and Collection Policy with regard to each Receivable and the related Contract. 

(d)    Extension or Amendment of Receivables. Except as provided in the Agreement, the Servicer and, to the extent
that it ceases to be the Servicer, Peabody, shall not alter the delinquency status or adjust the Outstanding Balance or otherwise modify the terms of any Pool Receivable in any material respect, or amend, modify or waive, in any material respect,
any term or condition of any related Contract, in each case which term or condition relates to payments under, or the enforcement of, such Contract. 

(e)    Change in Business or Credit and Collection Policy. The Servicer and, to the extent that it ceases to be the
Servicer, Peabody, shall not make (and shall not permit the Originators to make) any material change in the character of its business, other than Similar Businesses, or any change in any Credit and Collection Policy that would have a Material
Adverse Effect. The Servicer and, to the extent that it ceases to be the Servicer, Peabody, shall not make (and shall not permit the Originators to make) any other change in any Credit and Collection Policy without giving prior written notice
thereof to the Administrator and each Purchaser Agent. 
 (f)    Audits. The Servicer and, to the extent that it
ceases to be the Servicer, Peabody, shall (and shall cause the Originators to), from time to time during regular business hours as reasonably requested in advance (unless a Termination Event or Unmatured Termination Event exists) by the
Administrator or any Purchaser Agent, permit the Administrator or its agents or representatives: (i) to examine and make copies of and abstracts from all books, records and documents (including computer tapes and disks) in its possession or
under its control relating to Receivables and the Related Security, including the related Contracts; (ii) to examine Australian Originator Contracts and the Related Security to determine whether the related Receivables identified as Eligible
Receivables in the Information Packages and Interim Reports delivered under this Agreement satisfy each of the applicable eligibility criteria, (iii) to visit its offices and properties for the purpose of examining such materials described in
clause (i) and (ii) above, and to discuss matters relating to Receivables and the Related Security or its performance hereunder or under the Contracts with any of its officers, employees, agents or contractors having knowledge of
such matters and (iv), without limiting the clauses (i), (ii) and (ii) above, to engage certified public accountants or other auditors acceptable to the Servicer and the Administrator to

  
 IV-7 

 
conduct, at the Servicer’s expense, a review of the Servicer’s books and records with respect to such Receivables, provided, that at any time when no Termination Event exists and
is continuing, the Servicer shall be required to reimburse the Administrator for only one (1) such audit (or, at any time following the occurrence of a Minimum Cash Liquidity Event, two (2) such audits) per year. 

(g)    Change in Lock-Box Banks,
Lock-Box Accounts and Payment Instructions to Obligors. The Servicer and, to the extent that it ceases to be the Servicer, Peabody, shall not (and shall not permit the Originators to) add or terminate any
bank as a Lock-Box Bank or any account as a Lock-Box Account from those listed in Schedule II to the Agreement (other than as permitted by
Section 5.21), or make any change in its instructions to Obligors regarding payments to be made to the Servicer or any Lock-Box Account (or related post office box), unless the
Administrator shall have received ten (10) days advance written notice of assignment to a Permitted Lock-Box Bank and the Administrator shall have received copies of all agreements and documents
(including Lock-Box Agreements) that it may request in connection therewith. 

(h)    Deposits to Lock-Box Accounts. Subject to
Section 5.21, the Servicer shall: (i) instruct all Obligors (or in the case of Peabody Coppabella, its agent) to make payments of all Receivables to one or more Lock-Box Accounts
or to post office boxes to which only Lock-Box Banks have access (and shall instruct the Lock-Box Banks to cause all items and amounts relating to such Receivables
received in such post office boxes to be removed and deposited into a Lock-Box Account on a daily basis); and (ii) deposit, or cause to be deposited, any Collections received by it into Lock-Box Accounts not later than two (2) Business Days after receipt thereof (or in the case of Peabody Coppabella, cause Peabody Coppebella or its agent to deposit any Collections received by Peabody
Coppabella or its agent into a Lock-Box Account as soon as possible and not later than five (5) Business Days after receipt thereof). The Servicer will (on behalf of the Seller), unless otherwise agreed
in writing by the Administrator, instruct each Originator, in its capacity as the beneficiary of an Eligible Supporting Letter of Credit, to instruct each Eligible Supporting Letter of Credit Provider to make payments in respect of Eligible
Supporting Letters of Credit issued (or confirmed by) such Eligible Supporting Letter of Credit Provider directly to a Lock-Box Account if the applicable Originator fails to do so and, if an Eligible
Supporting Letter of Credit Provider fails to so deliver payments to a Lock-Box Account, the Servicer will, unless otherwise agreed in writing by the Administrator, use all reasonable efforts to cause the
applicable Originator to cause such Eligible Supporting Letter of Credit Provider to deliver subsequent payments (if any) in respect of Eligible Supporting Letters of Credit issued (or confirmed by) such Eligible Supporting Letter of Credit Provider
directly to a Lock-Box Account if the applicable Originator fails to do so. Except as permitted pursuant to Section 5.21, each Lock-Box Account
shall at all times be subject to a Lock-Box Agreement. 
 (i)    Preservation
of Security Interest. The Servicer shall (and shall cause the Seller to) take any and all action as the Administrator may require to preserve and maintain the perfection and priority of the ownership or security interest of the Administrator in
the Pool Assets pursuant to this Agreement. 

  
 IV-8 

 (j)    Marking of Records. At its expense, the Servicer shall mark its
master data processing records relating to Pool Receivables and related Contracts with a legend evidencing that such Receivables and Related Security have been sold in accordance with the Agreement. 

(k)    Navajo Project. Peabody shall notify the Administrator and each Purchaser Agent if a Responsible Officer of
Peabody obtains actual knowledge that the documents and agreements governing the Navajo Project are amended in any manner which would cause the representations and warranties set forth in Section 2(o) of Exhibit III
to be incorrect or untrue in any respect. 
 (l)    Reporting Requirements. Peabody shall provide to the
Administrator and each Purchaser Agent (in multiple copies, if requested by the Administrator or any Purchaser Agent) the following: 

(i)    as soon as available and in any event within 60 days after the end of the first three
quarters of each fiscal year of Peabody balance sheets of Peabody and the consolidated Subsidiaries of Peabody as of the end of such quarter and statements of income, retained earnings and cash flow of Peabody and the consolidated Subsidiaries of
Peabody for the period commencing at the end of the previous fiscal year and ending with the end of such quarter, certified by the chief financial officer of Peabody; provided, that any financial statements or other material required to be
delivered pursuant to this Section (2)(l)(i) shall be deemed to have been furnished to each of the Administrator and each Purchaser Agent on the date that such financial statements or other material is posted on the SEC’s website at
www.sec.gov; 
 (ii)    as soon as available and in any event within 120 days after the end of
each fiscal year of Peabody, a copy of the annual report for such year for Peabody and its consolidated Subsidiaries, containing financial statements for such year audited by independent certified public accountants of nationally recognized
standing; provided, that any such material required to be delivered pursuant to this Section (2)(l)(ii) shall be deemed to have been furnished to each of the Administrator and each Purchaser Agent on the date that such material are
posted on the SEC’s website at www.sec.gov; 
 (iii)    together with the financial
statements required in (i) and (ii) above, a compliance certificate in substantially the form of Annex D signed by the senior financial officer of the Seller or Peabody, or such other Person as may be acceptable to the Administrator;

 (iv)    as to the Servicer only, (A) as soon as available and in any event not later than two
Business Days prior to the Monthly Settlement Date, an Information Package as of the most recently completed calendar month, which shall include, among other things, the Cash Liquidity and Adjusted Cash Liquidity as of the applicable Cash Liquidity
Reporting Date, (B) as soon as available and in any event no later than the second Business Day of each calendar week, a report substantially in the form of Annex H-1 (each, a “Weekly
Report”) as of the last Business Day of the prior calendar week, which shall include, among other things, the Cash Liquidity and Adjusted Cash Liquidity as of 

  
 IV-9 

 
the applicable Cash Liquidity Reporting Date, and (C) if requested by the Administrator or any Purchaser at any time following the occurrence and during the continuance of a Termination
Event or Unmatured Termination Event or following the occurrence of a Minimum Cash Liquidity Event, a report substantially in the form of Annex H-2 (each, a “Daily Report”) on each
Business Day as of date that is one Business Day prior to such date, which shall include, among other things, the Cash Liquidity and Adjusted Cash Liquidity as of the applicable Cash Liquidity Reporting Date. 

(v)    as soon as possible and in any event within five days after becoming aware of the occurrence of each
Termination Event or Unmatured Termination Event, a statement of the chief financial officer of Peabody setting forth details of such Termination Event or Unmatured Termination Event and the action that such Person has taken and proposes to take
with respect thereto; 
 (vi)    promptly after the sending or filing thereof, copies of all reports that
Peabody sends to any of its security holders, and copies of all reports and registration statements that Peabody or any Subsidiary files with the Securities and Exchange Commission or any national securities exchange; provided, that any
filings with the Securities and Exchange Commission that have been granted “confidential” treatment shall be provided promptly after such filings have become publicly available; provided, that any material required to be delivered
pursuant to this Section (2)(l)(vi) shall be deemed to have been furnished to each of the Administrator and each Purchaser Agent on the date that such material is posted on the SEC’s website at www.sec.gov; 

(vii)    promptly after the filing or receiving thereof notice of and, upon the request of the
Administrator, copies of all reports and notices that Peabody or any ERISA Affiliate of Peabody files under ERISA with the Internal Revenue Service, the Pension Benefit Guaranty Corporation or the U.S. Department of Labor or that such Person or any
of its ERISA Affiliates receives from any of the foregoing or from any multiemployer plan (within the meaning of Section 4001(a)(3) of ERISA) to which such Person or any ERISA Affiliate of Peabody is or was, within the preceding five years, a
contributing employer, in each case in respect of the assessment of withdrawal liability or an event or condition that could, in the aggregate, result in the imposition of liability on Peabody and/or any such ERISA Affiliate; 

(viii)    at least thirty days before any change in Peabody or any U.S. Originator’s name or any ACN
of any Australian Originator other change requiring the amendment of UCC financing statements or PPSA financing statements, a notice setting forth such changes and the effective date thereof; 

(ix)    promptly after a Responsible Officer of Peabody obtains knowledge thereof, notice of any:
(A) litigation, investigation or proceeding that may exist at any time between Peabody or any of its Subsidiaries and any Governmental Authority that is reasonably likely to have a Material Adverse Effect; (B) litigation or
proceeding adversely affecting such Person or any of its Subsidiaries that is reasonably likely to have a Material Adverse Effect; or (C) litigation or proceeding relating to any Transaction Document; 

  
 IV-10 

 (x)    promptly after the occurrence thereof, notice of a
material adverse change in the business, operations, property or financial or other condition of Peabody and its Subsidiaries taken as a whole, or any individual Originator; 

(xi)    the occurrence of a default or any event of default under any other financing arrangement evidencing $75,000,000
or more of indebtedness pursuant to which Peabody is a debtor or an obligor; 
 (xii)    such other information
respecting the Receivables or the condition or operations, financial or otherwise, of Peabody or any of its Affiliates as the Administrator or any Purchaser Agent may from time to time reasonably request; and 

(xiii) the occurrence of any “Title Perfection Event” (as defined in the Australian Sale Agreement). 

(m)    Anti-Money Laundering/International Trade Law Compliance. No Covered Entity will become a Sanctioned Person.
No Covered Entity, either in its own right or through any third party, will (i) have any of its assets in a Sanctioned Country or in the possession, custody or control of a Sanctioned Person in violation of any Anti-Terrorism Law; (ii) do
business in or with, or derive any of its income from investments in or transactions with, any Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law; (iii) engage in any dealings or transactions prohibited by any
Anti-Terrorism Law or (iv) use the proceeds of any Investment to fund any operations in, finance any investments or activities in, or, make any payments to, a Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law. The
funds used to repay Servicer’s obligations under this Agreement and each of the other Transaction Documents will not be derived from any unlawful activity. Each Covered Entity shall comply with all Anti-Terrorism Laws. Servicer shall promptly
notify the Administrator in writing upon the occurrence of a Reportable Compliance Event. 
 3.    Separate
Existence. Each of the Seller and Peabody hereby acknowledges that the Purchasers, the Purchaser Agents and the Administrator are entering into the transactions contemplated by this Agreement and the other Transaction Documents in reliance upon
the Seller’s identity as a legal entity separate from Peabody and its Affiliates. Therefore, from and after the date hereof, each of the Seller and Peabody shall take all steps specifically required by the Agreement or reasonably required by
the Administrator to continue the Seller’s identity as a separate legal entity and to make it apparent to third Persons that the Seller is an entity with assets and liabilities distinct from those of Peabody and any other Person, and is not a
division of Peabody, its Affiliates or any other Person. Without limiting the generality of the foregoing and in addition to and consistent with the other covenants set forth herein, each of the Seller and Peabody shall take such actions as shall be
required in order that: 
 (a)    The Seller will be a limited purpose limited liability company whose activities are
restricted in its certificate of formation to: (i) purchasing or otherwise acquiring from the 

  
 IV-11 

 
Originators or Peabody (or their Affiliates), owning, holding, granting security interests or selling interests in Pool Assets (or other receivables originated by the Originators or their
Affiliates, and certain related assets), (ii) entering into agreements for the selling and servicing of the Receivables Pool (or other receivables pools originated by the Originators or their Affiliates), and (iii) conducting such other
activities as are necessary or appropriate to carry out such activities; 
 (b)    The Seller shall not engage in any
business or activity except as set forth in this Agreement nor incur any indebtedness or liability, other than as expressly permitted by the Transaction Documents; 

(c)    Not less than one of the Seller’s Directors (the “Independent Director”) shall be a natural
person who (A) for the five-year period prior to his or her appointment as Independent Director has not been, and during the continuation of his or her service as Independent Director is not: (i) an employee, director, stockholder, member,
manager, partner or officer of the Seller, Peabody or any of their respective Affiliates (other than his or her service as an Independent Director of the Seller); (ii) a customer or supplier of the Seller, Peabody or any of their respective
Affiliates (other than his or her service as an Independent Director of Seller); or (iii) any member of the immediate family of a person described in clause (i) or (ii) above, and (B) has, (i) prior experience as an
Independent Director for a corporation or limited liability company whose charter documents required the unanimous consent of all independent directors thereof before such corporation or limited liability company could consent to the institution of
bankruptcy or insolvency proceedings against it or could file a petition seeking relief under any applicable federal or state law relating to bankruptcy and (ii) at least three years of employment experience with one or more entities that
provide, in the ordinary course of their respective businesses, advisory, management or placement services to issuers of securitization or structured finance instruments, agreements or securities. Such Independent Director of the Seller shall have
been appointed as such in strict compliance with the Seller’s LLC Agreement. The Seller’s LLC Agreement shall provide that (i) the Seller’s Board of Directors shall not approve, or take any other action to cause the filing of, or
join in any filing of, a voluntary bankruptcy or insolvency petition, dissolution, liquidation, consolidation, merger, sale of all or substantially all of its assets, assignment for the benefit of creditors, admit in writing its inability to pay its
debts generally as they become due, or to engage in any other business or activity with respect to the Seller unless (x) there is at least one Independent Director then serving as a director of the Seller and appointed pursuant to and in strict
compliance with the Seller’s LLC Agreement, and (y) all such Independent Directors of the Seller shall have approved the taking of such action in writing prior to the taking of such action and (ii) such provision cannot be amended
without the prior written consent of the Independent Director and the Administrator; 
 (d)    Upon the occurrence of
any event that causes the Member to cease to be a member of the Seller (other than (i) upon an assignment by the Member of all of its limited liability company interest in the Seller and the admission of the transferee pursuant to Sections 21
and 23 of the LLC Agreement, or (ii) the resignation of the Member and the admission of an additional member of the Seller pursuant to Sections 22 and 23 of the LLC Agreement), each person acting as an Independent Director pursuant to
Section 10 of the LLC Agreement shall, without any action of any Person and simultaneously with the Member ceasing to be a member 

  
 IV-12 

 
of the Seller, automatically be admitted to the Seller as a Special Member and shall continue the Seller without dissolution. No Special Member may resign from the Seller or transfer its rights
as a Special Member unless (i) a successor Special Member has been admitted to the Seller as Special Member by executing a counterpart to the LLC Agreement, and (ii) such successor has also accepted its appointment as Independent Director
pursuant to Section 10 of the LLC Agreement; provided, however, the Special Members shall automatically cease to be members of the Seller upon the admission to the Seller of a substitute Member. 

(e)    The Independent Director shall not at any time serve as a trustee in bankruptcy for the Seller, Peabody or any
Affiliate thereof; 
 (f)    Any employee, consultant or agent of the Seller will be compensated from the Seller’s
funds for services provided to the Seller. The Seller will not engage any agents other than its attorneys, auditors and other professionals, and a servicer and any other agent contemplated by the Transaction Documents for the Receivables Pool, which
servicer will be fully compensated for its services by payment of the Servicing Fee, and a manager, which manager will be fully compensated from the Seller’s funds; 

(g)    The Seller will contract with the Servicer to perform for the Seller all operations required on a daily basis to
service the Receivables Pool. The Seller will pay the Servicer the Servicing Fee pursuant hereto. The Seller will not incur any material indirect or overhead expenses for items shared with Peabody (or any other Affiliate thereof) that are not
reflected in the Servicing Fee. To the extent, if any, that the Seller (or any Affiliate thereof) shares items of expenses not reflected in the Servicing Fee or the manager’s fee, such as legal, auditing and other professional services, such
expenses will be allocated to the extent practical on the basis of actual use or the value of services rendered, and otherwise on a basis reasonably related to the actual use or the value of services rendered; it being understood that Peabody shall
pay all expenses relating to the preparation, negotiation, execution and delivery of the Transaction Documents, including legal, agency and other fees; 

(h)    The Seller’s operating expenses will be paid by the Seller and not by Peabody or any other Affiliate thereof;

 (i)    All of the Seller’s business correspondence and other communications shall be conducted in the
Seller’s own name and on its own separate stationery; 
 (j)    The Seller’s books and records will be
maintained separately from those of Peabody and any other Affiliate thereof and any other Person; 
 (k)    All
financial statements of Peabody or any Affiliate thereof that are consolidated to include Seller will contain detailed notes clearly stating that: (i) a special purpose limited liability company exists as a Subsidiary of Peabody, and
(ii) the Originators have sold receivables (or beneficial interests therein) and other related assets to the Contributor, which has contributed such receivables (or beneficial interests therein) and other related assets to such special purpose
Subsidiary that, in turn, has sold such receivables (or beneficial interests therein) and other related assets to certain financial institutions and other entities; 

  
 IV-13 

 (l)    The Seller’s assets will be maintained in a manner that
facilitates their identification and segregation from those of Peabody or any Affiliate thereof and any other Person; 

(m)    The Seller will strictly observe organizational formalities in its dealings with Peabody or any Affiliate thereof,
and funds or other assets of the Seller will not be commingled with those of Peabody or any Affiliate thereof except as permitted by the Agreement in connection with servicing the Pool Receivables. The Seller shall not maintain joint bank accounts
or other depository accounts to which Peabody or any Affiliate thereof or any other Person has independent access, and the Seller shall use separate invoices and checks from any other Person. The Seller is not named, and has not entered into any
agreement to be named, directly or indirectly, as a direct or contingent beneficiary or loss payee on any insurance policy with respect to any loss relating to the property of Peabody or any Subsidiary or other Affiliate of Peabody (other than the
Seller). The Seller will pay to the appropriate Affiliate the marginal increase or, in the absence of such increase, the market amount of its portion of the premium payable with respect to any insurance policy that covers the Seller and such
Affiliate; 
 (n)    The Seller will maintain arm’s-length relationships
with Peabody (and any Affiliate thereof). Any Person that renders or otherwise furnishes services to the Seller will be compensated by the Seller at market rates for such services it renders or otherwise furnishes to the Seller. Neither the Seller
nor Peabody will be or will hold itself out to be responsible for the debts of the other or the decisions or actions respecting the daily business and affairs of the other. The Seller and Peabody will immediately correct any known misrepresentation
with respect to the foregoing, and they will not operate or purport to operate as an integrated single economic unit with respect to each other or in their dealing with any other entity; 

(o)    Peabody shall not pay the salaries of Seller’s employees, if any; 

(p)    The Seller does not and will not hold itself responsible for the obligations of any other Person, and shall not
guarantee or become liable for the debts of any other Person; 
 (q)    The Seller will conduct its business in its own
name and shall hold itself out as a separate entity from any other Person; 
 (r)    The Seller shall maintain a
sufficient number of employees and adequate capital in light of its contemplated business activities; 
 (s)    The
Seller shall not acquire the obligations or securities of any of its members; 
 (t)    The Seller will remain a
wholly-owned subsidiary of a United States person (within the meaning of Section 7701(a)(30) of the Internal Revenue Code) and not be subject to withholding under Section 1446 of the Internal Revenue Code, and no action will be taken that would
cause the Seller to (i) be treated other than as a “disregarded entity” within the meaning of U.S. Treasury Regulation § 301.7701-3 for U.S. federal income tax purposes or (ii) become
an association taxable as a corporation or a publicly traded partnership taxable as a corporation for U.S. federal income tax purposes; and 

  
 IV-14 

 (u)    The Seller shall not pledge its assets for the benefit of any other
Person or make any loans or advances to any other Person, except pursuant to the Transaction Documents. 

  
 IV-15 

 EXHIBIT V 

TERMINATION EVENTS 
 Each
of the following shall be a “Termination Event”: 
 (a)    (i) the Seller, Peabody, any Originator
or the Servicer (if Peabody or any of its Affiliates) shall fail to perform or observe any term, covenant or agreement under the Agreement (other than those terms, covenants or agreements contained in Exhibit IV, Sections 1(a),
1(l) (except clause (iv) thereof), 2(a), and 2(l) (except clause (viii) thereof)) or any other Transaction Document and, except as otherwise provided herein, such failure shall continue for five
consecutive Business Days after knowledge or notice thereof, (ii) the Seller or the Servicer shall fail to make when due any payment or deposit to be made by it under the Agreement and such failure shall continue unremedied for two
(2) Business Days, (iii) Peabody shall resign as Servicer, and no successor Servicer reasonably satisfactory to the Administrator shall have been appointed, or (iv) the Seller, Peabody, any Originator or the Servicer (if Peabody or
any of its Affiliates) shall fail to perform or observe any term covenant or agreement in any of Exhibit IV, Sections 1(a), 1(l) (except clause (iv) thereof), 2(a), or 2(l) (except clause
(viii) thereof) and, except as otherwise provided herein, such failure shall continue for thirty days after knowledge or notice thereof; 

(b)    Peabody (or any Affiliate thereof) shall fail to transfer to any successor Servicer when required any rights
pursuant to the Agreement that Peabody (or such Affiliate) then has as Servicer; 
 (c)    any representation or
warranty made or deemed made by the Seller, Peabody or any Originator (or any of their respective officers) under or in connection with the Agreement or any other Transaction Document, or any information or report delivered by the Seller, Peabody or
any Originator or the Servicer pursuant to the Agreement or any other Transaction Document, shall prove to have been incorrect or untrue in any material respect when made or deemed made or delivered, and shall remain incorrect or untrue for 10
Business Days after notice to the Seller or the Servicer of such inaccuracy; 
 (d)    the Seller or the Servicer shall
fail to deliver the Information Package or Interim Report pursuant to the Agreement, and such failure shall remain unremedied for two Business Days; 

(e)    the Agreement or any Investment or Reinvestment pursuant to the Agreement shall for any reason: (i) cease to
create a valid and enforceable perfected ownership (or with respect to any Australian Originator Receivable, a beneficial interest) or security interest in each Pool Receivable, the Related Security and Collections with respect thereto, free and
clear of any Adverse Claim, or (ii) cease to create with respect to the Pool Assets, or the interest of the Administrator with respect to such Pool Assets shall cease to be, a valid and enforceable first priority perfected ownership or security
interest, free and clear of any Adverse Claim; 
 (f)    the Seller, Peabody or any Originator shall generally not pay
its debts as such debts become due, or shall admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors; or any proceeding shall be instituted by or against

  
 V-1 

 
the Seller, Peabody or any Originator seeking to adjudicate it as bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief or
composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of an order for relief or the appointment of a receiver, trustee, custodian or other similar official for it
or for any substantial part of its property and, in the case of any such proceeding instituted against it (but not instituted by it), either such proceeding shall remain undismissed or unstayed for a period of 60 days, or any of the actions sought
in such proceeding (including the entry of an order for relief against, or the appointment of a receiver, trustee, custodian or other similar official for, it or for any substantial part of its property) shall occur; or the Seller, Peabody or any
Originator shall take any corporate or organizational action to authorize any of the actions set forth above in this paragraph; 

(g)    (i) the (A) Default Ratio shall exceed 2.25% or (B) the Delinquency Ratio shall exceed 4.50% or
(ii) the average for three consecutive calendar months of: (A) the Default Ratio shall exceed 1.75%, (B) the Delinquency Ratio shall exceed 3.50% or (C) the Dilution Ratio shall exceed 2.50%; 

(h)    a Change in Control shall occur; 

(i)    at any time the Purchased Assets Coverage Percentage exceeds 100%, and such circumstance shall not have been cured
within two Business Days; 
 (j)    (i) the occurrence of any Event of Default under and as defined in the Credit
Agreement, provided that if the Credit Agreement is terminated but not replaced, the covenants in effect in the Credit Agreement immediately prior to termination of the Credit Agreement shall be deemed to be effective for the purposes of the
Agreement; (ii) any other event shall occur or condition shall exist under the Credit Agreement and shall continue after the applicable grace period, if any, specified in such Credit Agreement if, in either case: (A) the effect of such non-payment, event or condition is to give the applicable debtholders the right (whether acted upon or not) to accelerate the maturity of such Debt, or (B) any such Debt shall be declared to be due and payable,
or required to be prepaid (other than by a regularly scheduled required prepayment), redeemed, purchased or defeased, or an offer to repay, redeem, purchase or defease such Debt shall be required to be made, in each case before the stated maturity
thereof; or (iii) in the event that the Credit Agreement shall have terminated, and there exists any other financing arrangement evidencing $75,000,000 or more of indebtedness pursuant to which Peabody is a debtor or an obligor (an
“Other Material Financing Agreement”); either (A) the occurrence of any event of default under such Other Material Financing Agreement, or (B) any other event shall occur or condition shall exist under and shall continue
after the applicable grace period, if any, specified in such Other Material Financing Agreement, if, in either case of (A) or (B): (I) the effect of such non-payment, event or condition is to give
the applicable debtholders the right (whether acted upon or not) to accelerate the maturity of such Other Material Financing Agreement, or (II) any such Other Material Financing Agreement shall be declared to be due and payable, or required to
be prepaid (other than by a regularly scheduled required prepayment), redeemed, purchased or defeased, or an offer to repay, redeem, purchase or defease such Debt shall be required to be made, in each case before the stated maturity thereof; 

  
 V-2 

 (k)    except as could not reasonably be expected, individually or in the
aggregate, to have a Material Adverse Effect, either: (i) a contribution failure shall occur with respect to any Benefit Plan sufficient to give rise to a lien on any of the assets of Seller, any Originator, Peabody or any ERISA Affiliate under
Section 303(k) of ERISA, (ii) the Internal Revenue Service shall file a notice of lien asserting a claim or claims pursuant to the Internal Revenue Code with regard to any of the assets of Seller, any Originator, Peabody or any ERISA Affiliate
and such lien shall have been filed and not released within 10 days, or (iii) the Pension Benefit Guaranty Corporation shall, or shall indicate its intention in writing to the Seller, any Originator, Peabody or any ERISA Affiliate to, either
file a notice of lien asserting a claim pursuant to ERISA with regard to any assets of the Seller, any Originator, Peabody or any ERISA Affiliate or terminate any Benefit Plan that has unfunded benefit liabilities, or any steps shall have been taken
to terminate any Benefit Plan subject to Title IV of ERISA so as to result in any liability and such lien shall have been filed and not released within 10 days; 

(l)    the Days’ Sales Outstanding exceed 40.0 days; 

(m)    [RESERVED]; 

(n)    any Letter of Credit is drawn upon and, unless as a result of the LC Bank’s failure to provide the notice
required by Section 1.16(a), not fully reimbursed pursuant to Section 1.16 (including, if applicable, with the proceeds of any funding by any Purchaser) within two Business Days from the date of such draw; 

(o)    an order of the Bankruptcy Court shall be entered in any of the Chapter 11 Cases (i) staying, reversing or
vacating the Confirmation Order, or any member of the Peabody Group shall apply for authority to do so, or (ii) amending, supplementing or otherwise modifying the Confirmation Order in a manner materially adverse to PNC and its Affiliates or
any member of the Peabody Group shall apply for authority to do so, in each case without the prior written consent of the Administrator and the Majority Purchaser Agents; or 

(p)    a member of the Peabody Group shall file a pleading seeking or consenting to the matters described in clause
(o) above. 

  
 V-3 

 ANNEX A 

to Receivables Purchase Agreement 

FORM OF INFORMATION PACKAGE 

  
 Annex A-1 

(Attached) 

 ANNEX B 

to Receivables Purchase Agreement 

FORM OF INVESTMENT NOTICE 

            , [20    ] 

PNC Bank, National Association 
 Three PNC Plaza, 4th Floor 

255 Fifth Avenue 
 Pittsburgh, PA
15222-2707 
 [Each Purchaser Agent] 

Ladies and Gentlemen: 
 Reference is hereby made
to the Sixth Amended and Restated Receivables Purchase Agreement, dated as of April 3, 2017 (as heretofore amended or supplemented, the “Receivables Purchase Agreement”), among P&L Receivables Company, LLC
(“Seller”), Peabody Energy Corporation, as Servicer, the Persons from time to time party thereto as Sub-Servicers, the Persons from time to time party thereto as Conduit Purchasers, Committed
Purchasers, Purchaser Agents and LC Participants, and PNC Bank National Association, as administrator (in such capacity, the “Administrator”) and as the issuer of letters of credit thereunder (in such capacity, the “LC
Bank”). Capitalized terms used in this Investment Notice and not otherwise defined herein shall have the meanings assigned thereto in the Receivables Purchase Agreement. 

[This letter constitutes an Investment Notice pursuant to Section 1.2(a) of the Receivables Purchase Agreement. Seller requests that
the Purchasers make an Investment in a pool of receivables on             , [20    ], in the amount of
$        . Subsequent to this Investment, the Aggregate Capital will be $        .]1 

[This letter constitutes a notice pursuant to Section 1.14(a) of the Receivables Purchase Agreement. Seller desires that LC Bank issue
a Letter of Credit with a face amount of [$][AUD]        . Subsequent to this issuance, the Aggregate LC Participation Amount will be $         and the
Aggregate Capital will be $        .]2 [After giving effect to such issuance, (i) the U.S. Dollar LC Participation Amount will be
$[        ] and (ii) the Australian Dollar Participation Amount will be AUD
[                    ]]. 

Seller hereby represents and warrants as of the date hereof, and as of the date of such [Investment] [issuance], as follows: 

 

	 	(i)	the representations and warranties contained in Exhibit III to the Receivables Purchase Agreement are true and correct in all material respects (except to the 

 

	1 	In the case of a Borrowing Request. 

	2 	 In the case of a request for an issuance of a Letter of Credit. In the event of a request for the issuance of a
Letter of Credit, a Letter of Credit Application in the form of Annex E to the Receivables Purchase Agreement must also be delivered by the Seller. 

  
 Annex B-1 

	 	
extent that such representations and warranties expressly relate to an earlier date, and in which case such representations and warranties are true and correct in all material respects as of such
earlier date); 

  

	 	(ii)	no event has occurred and is continuing, or would result from the Investment or issuance requested hereby that constitutes a Termination Event; 

 

	 	(iii)	no Unmatured Termination Event exists and is continuing; 

  

	 	(iv)	the sum of the Aggregate Capital plus the Aggregate LC Participation Amount, after giving effect to the Investment or issuance requested hereby, will not exceed the Purchase Limit; 

 

	 	(v)	after giving effect to the Investment or issuance requested hereby, the Purchased Assets Coverage Percentage shall not exceed 100%; and 

 

	 	(vi)	the Facility Termination Date has not occurred. 

  
 Annex B-2 

 IN WITNESS WHEREOF, the undersigned has caused this Investment Notice to be executed by its duly
authorized officer as of the date first above written. 
  

			
	P&L RECEIVABLES COMPANY, LLC
		
	By:	 	                                     
                                     
	Name:	 	                                     
                                     
	Title:	 	                                     
                                     

  
 Annex B-3 

 ANNEX C 

to Receivables Purchase Agreement 

FORM OF PAYDOWN NOTICE 

            , 20     

PNC Bank, National Association 
 Three PNC Plaza, 4th Floor 

255 Fifth Avenue 
 Pittsburgh, Pennsylvania 15222-2707 
 [Each Purchaser Agent] 

Ladies and Gentlemen: 
 Reference is hereby made
to the Sixth Amended and Restated Receivables Purchase Agreement, dated as of April 3, 2017 (as amended, supplemented or otherwise modified, the “Receivables Purchase Agreement”), among P&L Receivables Company, LLC, as
Seller, Peabody Energy Corporation, as Servicer, the Persons from time to time party thereto as Sub-Servicers, the Persons from time to time party thereto as Conduit Purchasers, Committed Purchasers, Purchaser
Agents and LC Participants, and PNC Bank, National Association, as Administrator and as the LC Bank. Capitalized terms used in this paydown notice and not otherwise defined herein shall have the meanings assigned thereto in the Receivables Purchase
Agreement. 
 This letter constitutes a paydown notice pursuant to Section 1.6(f)(i) of the Receivables Purchase Agreement. The
Seller desires to reduce the Aggregate Capital on             ,         3 by the
application of $         in cash to pay Capital and Discount to accrue (until such cash can be used to pay commercial paper notes) with respect to such Capital, together with all costs related to such
reduction of the Aggregate Capital. Subsequent to this Paydown, the Aggregate Capital will be $        . 

IN WITNESS WHEREOF, the undersigned has caused this paydown notice to be executed by its duly authorized officer as of the date first above
written. 
  

			
	P&L RECEIVABLES COMPANY, LLC
		
	By:	 	                                     
                                     
	Name:	 	                                     
                                     
	Title:	 	                                     
                                     

  
  

	3 	Notice must be given at least two Business Days prior to the requested paydown date. 

  
 Annex C-1 

 ANNEX D 

to Receivables Purchase Agreement 

FORM OF COMPLIANCE CERTIFICATE 
 To: PNC
Bank, National Association, as Administrator, and [each Purchaser Agent] 
 This Compliance Certificate is furnished pursuant to that
certain Sixth Amended and Restated Receivables Purchase Agreement, dated as of April 3, 2017, by and among P&L Receivables Company, LLC (“Seller”), Peabody Energy Corporation (the “Servicer”), the Persons
from time to time party thereto as Sub-Servicers, the Persons from time to time party thereto as Conduit Purchasers, Committed Purchasers, Purchaser Agents and LC Participants, and PNC Bank, National
Association (the “Administrator”) and as the LC Bank (the “Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to them in the Agreement. 

THE UNDERSIGNED HEREBY CERTIFIES THAT: 

1. I am the duly elected
                     of Seller. 

2. I have reviewed the terms of the Agreement and I have made, or have caused to be made under my supervision, a detailed review of the
transactions and condition of Seller during the accounting period covered by the attached financial statements. 
 3. The examinations
described in paragraph 2 did not disclose, and I have no knowledge of, the existence of any condition or event which constitutes a Termination Event or an Unmatured Termination Event, as each such term is defined under the Agreement, during or at
the end of the accounting period covered by the attached financial statements or as of the date of this Certificate, except as set forth in paragraph 5 below. 

  
 Annex D-1 

 4. Described below are the exceptions, if any, to paragraph 3 by listing, in detail, the nature
of the condition or event, the period during which it has existed and the action which Seller has taken, is taking, or proposes to take with respect to each such condition or event: 

The foregoing certifications, together with the computations set forth in the financial statements delivered with this Certificate in support hereof, are made
and delivered this      day of             , 20    . 
  

			
	P&L RECEIVABLES COMPANY, LLC
		
	By:	 	                                     
                                 
	Name:	 	                                     
                                 
	Title:	 	                                     
                                 

  
 Annex D-2 

 ANNEX E 

to Receivables Purchase Agreement 

FORM OF LETTER OF CREDIT APPLICATION 

  
 Annex E-1 

(Attached) 

 ANNEX F 

to Receivables Purchase Agreement 

FORM OF ASSUMPTION AGREEMENT 

Dated as of [             , 20    ] 

THIS ASSUMPTION AGREEMENT (this “Agreement”), dated as of [        
    ,         ], is among P&L RECEIVABLES COMPANY, LLC (the “Seller”),
[                    ], as purchaser (the
“[                    ] Conduit Purchaser”),
[                    ], as the related committed purchaser (the
“[                    ] Committed Purchaser”),
[                    ], as related lc participant (the
“[                    ] LC Participant” and together with the Conduit Purchaser and the Committed Purchaser, the
“[                    ] Purchasers”), and
[                    ], as agent for the
[                    ] Purchasers (the
“[                    ] Purchaser Agent” and together with the
[                    ] Purchasers, the
“[                    ] Purchaser Group”). 

BACKGROUND 
 The Seller and
various others are parties to that certain Sixth Amended and Restated Receivables Purchase Agreement, dated as of April 3, 2017 (as amended, restated, supplemented or otherwise modified through the date hereof, the “Receivables Purchase
Agreement”). Capitalized terms used and not otherwise defined herein have the respective meaning assigned to such terms in the Receivables Purchase Agreement. 

NOW, THEREFORE, the parties hereto hereby agree as follows: 

SECTION 1. This Agreement constitutes an Assumption Agreement pursuant to Section 1.4(g) of the Receivables Purchase Agreement. The
Seller desires [the [                    ] Purchasers] [the
[                    ] Committed Purchaser] [the
[                    ] related LC Participant] to [become Purchasers under] [increase its existing Commitment under] the Receivables Purchase
Agreement and upon the terms and subject to the conditions set forth in the Receivables Purchase Agreement, the [                    ]
Purchasers agree to [become Purchasers thereunder] [increase its Commitment in an amount equal to the amount set forth as the “Commitment” under the signature of such
[                    ] Committed Purchaser hereto] [increase its Commitment in an amount equal to the amount set forth as the
“Commitment” under the signature of such [                    ] related LC Participant hereto]. 

Seller hereby represents and warrants to the
[                    ] Purchasers as of the date hereof, as follows: 

(i) the representations and warranties of the Seller contained in Exhibit III of the Receivables Purchase Agreement are true and
correct in all material respects on and as the date hereof as though made on and as of such date (except for representations and warranties which apply as to an earlier date, in which case such representations and warranties shall be true and
correct as of such earlier date); 

  
 Annex F-1 

 (ii) no event has occurred and is continuing that constitutes a Termination Event or an Unmatured
Termination Event; and 
 (iii) the Facility Termination Date has not occurred. 

SECTION 2. Upon execution and delivery of this Agreement by the Seller and each member of the
[                    ] Purchaser Group, satisfaction of the other conditions to assignment specified in Section 1.4(g) of the
Receivables Purchase Agreement (including the written consent of the Administrator and each Purchaser Agent) and receipt by the Administrator and Seller of counterparts of this Agreement (whether by electronic mail or otherwise) executed by each of
the parties hereto, [the [                    ] Purchasers shall become a party to, and have the rights and obligations of Purchasers under,
the Receivables Purchase Agreement][the [                    ] Committed Purchaser shall increase its Commitment in the amount set forth as
the “Commitment” under the signature of the [                    ] Committed Purchaser hereto][the
[                    ] related LC Participant shall increase its Commitment in the amount set forth as the “Commitment” under the
signature of the [                    ] related LC Participant hereto]. 

SECTION 3. Each party hereto hereby covenants and agrees that it will not institute against, or join any other Person in instituting against,
any Conduit Purchaser, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other proceeding under any federal or state bankruptcy or similar law, for one year and one day after the latest maturing Note issued by
such Conduit Purchaser is paid in full. The covenant contained in this paragraph shall survive any termination of the Receivables Purchase Agreement. 

SECTION 4. THIS AGREEMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING
FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK) EXCEPT TO THE EXTENT THAT THE VALIDITY OR PERFECTION OF A SECURITY
INTEREST OR REMEDIES HEREUNDER, IN RESPECT OF ANY PARTICULAR COLLATERAL ARE GOVERNED BY THE LAWS OF A JURISDICTION OTHER THAN THE STATE OF NEW YORK. This Agreement may not be amended, supplemented or waived except pursuant to a writing signed by the
party to be charged. This Agreement may be executed in counterparts, and by the different parties on different counterparts, each of which shall constitute an original, but all together shall constitute one and the same agreement. 

(continued on following page) 

  
 Annex F-2 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement by their duly authorized
officers as of the date first above written. 
  

			
	[                                ], as a Conduit
Purchaser
		
	By:	 	                                     
                                         
  
	Name Printed:
	Title:
	
	[Address]
	
	[                                ], as a Committed
Purchaser
		
	By:	 	  

	Name Printed:
	Title:
	
	[Address]
	[Commitment]
	
	[                                ], as a related LC
Participant
		
	By:	 	  

	Name Printed:
	Title:
	
	[Address]
	[Commitment]
	
	[                                ], as Purchaser
Agent for [                                ]
		
	By:	 	  

	Name Printed:
	Title:
	
	[Address]

  
 Annex F-3 

			
	P&L RECEIVABLES COMPANY, as Seller
		
	By:	 	                                     
                                     
	Name Printed:
	Title:
	
	Consented and Agreed:
	
	PNC BANK, NATIONAL ASSOCIATION, as Administrator
		
	By:	 	                                     
                                     
	Name Printed:
	Title:

  

			
	Address:	  	PNC Bank, National Association
		  	Three PNC Plaza
		  	255 Fifth Avenue
		  	Pittsburgh, Pennsylvania 15222-2707

  

			
	PNC BANK, NATIONAL ASSOCIATION, as LC Bank
		
	By:	 	                                     
                                     
	Name Printed:
	Title:

  

			
	Address:	  	PNC Bank, National Association
		  	500 First Avenue
		  	Third Floor
		  	Pittsburgh, Pennsylvania 15219

  

			
	[THE PURCHASER AGENTS]
		
	By:	 	                                     
                                     
	Name Printed:
	Title:
	
	[Address]

  
 Annex F-4 

 ANNEX G 

to Receivables Purchase Agreement 

FORM OF TRANSFER SUPPLEMENT 

Dated as of [             , 20    ] 

Section 1. 
  

					
	 Commitment assigned:
	  	$	            	 
	 Assignor’s remaining Commitment:
	  	$	            	 
	 Capital allocable to Commitment assigned:
	  	$	            	 
	 Assignor’s remaining Capital:
	  	$	            	 
	 Discount (if any) allocable to Capital assigned:
	  	$	            	 
	 Discount (if any) allocable to Assignor’s remaining Capital:
	  	$	            	 

 Section 2. 

Effective Date of this Transfer Supplement:
[                    ] 
 Upon
execution and delivery of this Transfer Supplement by transferee and transferor and the satisfaction of the other conditions to assignment specified in Section 5.3(c) of the Receivables Purchase Agreement (as defined
below), from and after the effective date specified above, the transferee shall become a party to, and have the rights and obligations of a Committed Purchaser under, the Sixth Amended and Restated Receivables Purchase Agreement, dated as of
April 3, 2017 (as amended, restated, supplemented or otherwise modified through the date hereof, the “Receivables Purchase Agreement”), among P&L Receivables Company, LLC, as Seller, Peabody Energy Corporation, as initial
Servicer, the various Sub-Servicers, Purchasers and Purchaser Agents from time to time party thereto, and PNC Bank, National Association, as Administrator and as LC Bank. 

  
 Annex G-1 

 ASSIGNOR:
[                    ], as a Committed Purchaser 
  

			
	By:	 	  

	Name:	 	  

	Title:	 	  

 ASSIGNEE:
[                    ], as a Purchasing Committed Purchaser 

 

			
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	[Address]

 Accepted as of date first above written: 

[                    ], as Purchaser Agent for 

the [                    ] Purchaser Group 

 

			
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 Annex G-2 

 ANNEX H-1 

to Receivables Purchase Agreement 

FORM OF WEEKLY REPORT 

  
 Annex H-1-1 

(Attached) 

 ANNEX H-2 

to Receivables Purchase Agreement 

FORM OF DAILY REPORT 

  
 Annex H-2-1 

(Attached)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00269-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00269-of-00352.parquet"}]]