Renato Paladino President

Arch Coal Asia-Pacific Pte. Ltd.

Singapore May 2013

The U.S. as a Source of Met Coal and its Impact on the Market

Forward-Looking Information

Slide 2

This presentation contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, particular uncertainties arise from changes in the demand for our coal by the electric generation industry; from legislation and regulations, and other environmental initiatives; from operational, geological, permit, labor and weather-related factors; from fluctuations in the amount of cash we generate from operations; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. For a description of some of the risks and uncertainties that may affect our future results, you should see the risk factors described from time to time in the reports we file with the U.S. Securities and Exchange Commission.

Long-term Market Fundamentals

Slide 4

Four of the five most populous countries are emerging economies. Three of them are in Asia.

Sources: University of Pennsylvania, ACI *PECs = populous emerging countries (Brazil, China, India and Indonesia)

43%

Share of PECs* in

World Population

Slide 5

Most PECs* have space for further urbanization. Urbanization is correlated to growth of GDP per capita.

Sources: World Bank, University of Pennsylvania, ACI *PECs = populous emerging countries (Brazil, China, India and Indonesia)

43%

Share of PECs* in

World Population

Slide 6

Growth of GDP per capita in PECs* is still at an early stage, favoring an expansion in steel intensity

Sources: World Bank, World Steel Association, University of Pennsylvania, ACI

*PECs = populous emerging countries (Brazil, China, India and Indonesia)

43%

Share of PECs* in

World Population

Two large developing nations are driving much of the change in global met coal markets

Slide 7

China India

• Share of Global Population …………………...20%

• Urban Population Growth by 2035

(million habitants) ...………………...…….....290

• Share of Global Pig Iron Prod. 2012…....59%

• Share of Global Population………………….17%

• Urban Population Growth by 2035

(million habitants)……………..………………..300

• Share of Global Pig Iron Prod. 2012……4%

• About one third of the World’s Population

• About one third of the World’s Urban Population Growth*

• About two thirds of the World’s Pig Iron Production

China +

India

Slide 4 Sources: World Steel Association, IEA * By 2035

Slide 8

The share of urban population in China is expected to exceed 60% by 2030 and 70% by 2050

Sources: World Bank, World Steel Association, University of Pennsylvania, McKinsey, ACI

Slide 9

The share of urban population in India is expected to exceed 40% by 2030 and 50% by 2050

Sources: World Bank, World Steel Association, University of Pennsylvania, McKinsey, ACI

World steel consumption is projected to increase by about +40% between 2012 and 2020

Slide 10

World Steel Production

(in billions of metric tons)

Sources: World Steel Association, Wood Mackenzie, McKinsey, AME, CRU, ACI

2000 2020F

~2.0

1.4

2012

0.8

0.1 0.8

~1.1

Global total

Total of China and India

Slide 11

The trend in seaborne markets is unmistakable … with little reason to believe it will change soon

Sources: ACI, McCloskey, CRU and India Coal Market Watch Data

03 04 05 06 07 08 09 10 11 12

China and India net met coal imports (in millions of metric tons)

19 18

22

32

59

72

83

17

3

106

China + India

China

India

2% 10% 10% 10% 11% 15% 30% 29% 36% 43% China+India / Seaborne

Slide 12

We expect met coal imports to increase based on projected growth in global steel consumption

Latin America

China

30

~200

India

Forecast average growth in imports of met coal to 2020:

Range of growth in millions of metric tons from pre-recession levels

million tonnes*

Europe

15 ~ 20

100 ~

180 20 ~ 50

North Asia 0 ~ 15

5 ~ 15

Sources: ACI, CRU (to 2017) and Wood Mackenzie *Average forecast growth across all major regions for the period

~90%

Slide 13

Australia, USA and Canada’s combined share of global met coal exports will remain in the 70%‒80% range

Canada

USA

Australia

30

~180 million tonnes*

70 ~ 80

Foreseeable growth in exports of met coal by 2020:

Range of growth in millions of metric tons from pre-recession

Russia

Mozambique

Mongolia

5 ~ 15

10 ~ 50

10 ~ 20

40 ~ 45

10 ~ 25

Sources: ACI, CRU (to 2017) and Wood Mackenzie *Average forecast growth across all major regions for the period

levels from major supply regions

Slide 14

Producers will struggle to keep pace with demand ─ making the met coal market tighter in the future

Sources: Wood Mackenzie, ACI

Canada

USA

Australia

30

Challenges for met coal producers

Russia

Mozambique

Mongolia

Infrastructure access, Costs, Taxes, Labor, Community, Water, Permitting, Quality,

Weather, Exchange rate

Infrastructure access, Regulatory, Taxes,

Labor, Water, Electricity, Risk

Infrastructure access, Costs, Taxes, Labor, Community, Quality

Infrastructure access, Taxes, Labor, Risk

Reserve depletion, Local demand,

Infrastructure access and costs, Taxes

Reserve depletion, Infrastructure access, Quality, Costs, Taxes, Labor, Environment,

Water, Risk

Quality, Environment, Infrastructure access,

Regulatory, Taxes, Land use, Labor, Water,

Electricity, Risk

China India

Port capacity, Quality, Distance to

growth markets

Australia is facing growing challenges … that are putting upward pressure on both capital requirements and cash costs

• Existing coal regions in NSW and QLD are maturing

– “The cost of adding production in Australia has risen as much as 100%,” according to Rio Tinto, quoted at Coaltrans Australia

• Capital requirements for new mines, rails and ports have soared

• Production is increasingly moving westward … and underground

• The Aussie dollar has appreciated steadily

• Logistics chains are longer and must be integrated

• New projects are stressing an already overburdened coal chain

• Environmental and land use challenges are intensifying

• New mineral and carbon taxes are now in effect

• Labor costs are escalating in the face of low unemployment and the challenge of attracting people to frontier locations (and underground)

Slide 15

$235

$210 $225

$170

$165

$172

Slide 16

The fall-off in global metallurgical coal prices is spurring a significant supply rationalization

Benchmark Hard Coking Coal Price (in US $ per metric tonne)

Sources: AME, CRV, and ACI

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13

• Supply cuts of up to 35 million tons

annualized have been announced as

benchmark prices fell

– At the 2Q13 benchmark of $172/tonne,

public announcements of mine idlings

and workforce reductions continue

• Earnings announcements suggest

that leading global metallurgical

producers are suffering operating

losses at current prices

• Market observers project one-third

of global metallurgical supply could

be uneconomic at current prices

CURRENT MARKET

• Current global macro uncertainty is impacting the met coal market

• Emerging markets have slowed in the face of economic weakness in the developed world

• Utilization rates at global steel mills stand at 79 percent – well off peak levels

• Met coal prices have slid to unsustainably low levels

Slide 17

Metallurgical coal markets represent a compelling long-term opportunity

Sources: World Steel Association, Wood Mackenzie, ACI and other public sources

LONG-TERM

•World steel consumption is projected to climb +40% by 2020

•World population could top 8 billion by 2030 — with substantial urbanization and growth in middle class of emerging world

• Growing supply constraints should further support market conditions

• Met coal demand is likely to outstrip supply in the long run, mainly in the Asia-Pacific basin

Additional met coal will be needed to balance such deficit

CURRENT MARKET

The U.S. as a Source of Met Coal

The U.S. already plays a sizable and increasingly essential role in global metallurgical markets

Slide 19 Sources: Wood Mackenzie, T. Parker Host and ACI

147

64

29

27

17

Australia

U.S.

Canada

Mongolia

Russia

2012 Metallurgical Export Coal Supply

(in millions of metric tons)

Low-Vol Mid-Vol High-Vol

• The U.S. is already an essential source of seaborne metallurgical coal — second only to Australia

• U.S. output of low-vol and mid-vol coals is comparable to Canada

Slide 20

The U.S. has the largest reserves of hard coal* in the world

Sources: BP, ACI *Hard coal = bituminous coal + anthracite

USA

Australia

405 billion tonnes Share of global reserves of hard coal*

(2011)

Russia

Africa

China

Others

India

Eastern Europe & Eurasia

Global total:

27% 15%

12%

14%

9%

5%

8%

10%

IL

KY VA

MD

TN

AL

PA OH

WV 2

4 5

8

6

3

1

7

9

NS/Lamberts (6) 29

DTA (4) 18

CNX Marine (2) 14

Pier IX (5) 13

CSX/Curtis Bay (3) 12

PA (1) 1

Mobile (8) 16

Other AL (9) 5

Charleston (7) 7

East Coast

87 million metric tonnes

Southeast

28 million metric tonnes

Planned U.S. port expansions over the next 5 years or so will allow for increased met coal exports

Sources: NMA, Port Terminal Presentations, ACI

Future projected port capacity at U.S. East and Southeast coasts (in million metric tonnes)

Slide 21

Hot metal production in the U.S. fell during the last decade, freeing more met coal for the export market

Slide 22 Sources: World Steel Association, CRU, ACI

Slide 23

• U.S. coal exports have climbed steadily since 2006, except for a dip following

the global financial crisis.

• We expect this long-term growth trend to continue into the next decade.

Sources: U.S. Department of Commerce, ACI

U.S. met coal exports have increased significantly in recent years – and we expect that trend to continue

2006 2012

21

59 U.S. Seaborne Metallurgical Exports (in millions of metric tonnes)

CAGR: 19%

Expansions of met coal producing capacity in the U.S. require relatively lower CAPEX and OPEX

RELIABILITY • Second largest global supplier in the met coal

export market with an expanding share in the Asian market

• Viewed as a reliable, competitive supplier to the world markets

• Consistent and well-known quality

RELATIVELY LOW CAPEX • Domestic demand is flat, allowing increasing

exports from existing coal production capacity

• Exports growing at higher growth rates than other major export countries in recent years

• Overland infrastructure is well developed

DIVERSIFICATION • Alternative source of met coal to Asia

RELATIVELY STABLE OPEX • The weakened U.S. thermal coal

market has resulted in reduced production, mine closures and workforce reductions. These moves have created opportunities for U.S. metallurgical coal producers including:

− Experienced labor − Contractors − Mine equipment − Railway capacity

• This is a completely different situation from some other countries where most or all of the inputs listed above are in short supply.

Slide 24

Slide 25

Arch’s Leer mine represents an outstanding growth opportunity

• One of the industry’s most promising metallurgical projects

• Mine development is advancing

• Cash costs expected within Arch’s competitive cost range — with anticipated premium high-vol A pricing in domestic and global markets.

• Attractive quality specifications*:

CSR > 60%

G ~ 98

Y ~ 37 mm

V9-V14 ~ 93%

– China: excellent fat coal (highly demanded)

– India: adequate parameters for all major mills

– Japan, Korea, Taiwan, Europe, South America: high CSR, high rank

Leer Mine & Prep Plant

* Indicative results.

Arch’s Metallurgical Coal Production Mix

2020 Target: 14~18 million tons

410

305

205

176

134

123

108

99

98

96

Coal India

Shenhua

Peabody

China Coal

Glen/Xstrata*

Arch

BHP

Anglo

SUEK

Alpha

Arch is among the top coal producers and marketers in the world

Slide 26 Sources: ACI, MSHA, Ventyx, company filings, press articles * Pro forma

Top 10 Global Coal Producers

(2012, in millions of metric tons)

Government affiliated

Arch is one of the largest coal producers globally, and is the third largest private-sector producer based on volume.

Arch is the most diversified U.S. coal producer, and the No. 2 reserve holder in the nation

Operations

extend to

every major

coal supply

basin

Slide 27

5 Billion Metric Tons of Reserves

Western Bituminous

Region

371 million metric tons of

reserves

Illinois Basin

658 million metric tons of

reserves

Powder River Basin

3,002 million metric tons of

reserves

Appalachia

950 390 Met Coal million metric tons of

reserves

Slide 28

Arch’s Met Coal Mines and Port Investments

DTA

Lone Mountain

Pardee

Mt. Laurel

Vindex

Leer Sentinel

Sawmill

Beckley

OH PA

MD

KY

WV

VA

Mt. Laurel

Beckley

Sentinel

DTA (22% owned by Arch)

Arch’s met coal reserves:

390 million tonnes, being:

Curtis Bay, MD

64%: Low Vol + High Vol A

36%: High Vol B & PCI

Leer

Arch expects to play a larger role in the expanding seaborne coal trade

Arch and the U.S. are well positioned to serve the future met markets

• Seaborne demand growth is certain to continue

• China and India will underpin global met coal market expansion

• Traditional supply sources face mounting obstacles

• Rising global cost curve renders U.S. increasingly competitive

– Large reserves

– Relatively low CAPEX and relatively stable OPEX

– Highly reliable supplier

– Cornerstone for Atlantic Basin market

– Compelling source of diversification for Pacific Rim

Slide 29

Thank you very much

Singapore May 2013

Arch Coal, Inc.:

One CityPlace Dr., Suite 300 Saint Louis, MO. 63141 USA Tel: 001-314-994 2700

Arch Coal Asia-Pacific, Pte. Ltd.:

8 Temasek Boulevard, #14-04 14 China World Office 1, room 89 Suntec City Tower 3 Jianguomenwai Avenue, Singapore, 038988 Beijing 100004, China Tel: 0065-6672 7666 Tel: 0086-10- 6563 7888

For more information:

Please email ACAP@archcoal.com or check our website at www.archcoal.com