CHANGING PERSPECTIVES OF COAL: TEACHING AN OLD DOG NEW TRICKS

Rick Curtsinger, Manager of Media Relations Denver Coal Club March 13, 2014

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Cloud Peak Energy Inc. Financial Data

Cloud Peak Energy Inc. is the sole owner of Cloud Peak Energy Resources LLC. Unless expressly stated otherwise in this presentation, all financial

data included herein is consolidated financial data of Cloud Peak Energy Inc.

Cautionary Note Regarding Forward-Looking Statements

This presentation contains “forward-looking statements” within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933

and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are not statements of historical facts, and often contain words

such as “may,” “will,” “expect,” “believe,” “anticipate,” “plan,” “estimate,” “seek,” “could,” “should,” “intend,” “potential,” or words of similar meaning.

Forward-looking statements are based on management’s current expectations, beliefs, assumptions and estimates regarding our company, industry,

economic conditions, government regulations, energy policies and other factors. These statements are subject to significant risks, uncertainties and

assumptions that are difficult to predict and could cause actual results to differ materially and adversely from those expressed or implied in the

forward-looking statements. For a description of some of the risks and uncertainties that may adversely affect our future results, refer to the risk

factors described from time to time in the reports and registration statements we file with the Securities and Exchange Commission, including those in

Item 1A "Risk Factors" of our most recent Form 10-K and any updates thereto in our Forms 10-Q and current reports on Forms 8-K. There may be

other risks and uncertainties that are not currently known to us or that we currently believe are not material. We make forward-looking statements

based on currently available information, and we assume no obligation to, and expressly disclaim any obligation to, update or revise publicly any

forward-looking statements made in our presentation, whether as a result of new information, future events or otherwise, except as required by law.

The Good Old Days?

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Cloud Peak Energy Operations

2013 by the numbers:

■ Approx. 1,700 employees

■ 4th-largest U.S. coal producer

■ 86.1 million tons produced

■ Approx. 4% of U.S. electricity

generation

■ 4.7 million tons exported to Asia

through British Columbia

■ $360 million in taxes/royalties,

plus $79 million in leases*

Billings

*includes 50-percent, non-operating interest in Decker Mine

Big Metal Project Youngs Creek

0.46 0.68 0.71 0.80 0.82

1.26 1.28 1.34 1.58

1.82 2.16

2.66 2.86

3.11 3.23 3.31

3.74 3.89 4.01

5.39 5.68

6.80

7.59 7.60

8.00

Incid

en

t R

ate

(A

IFR

)

Full Year 2012 MSHA AIFR 0.82

June 30, 2013 MSHA AIFR 0.66

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Top Coal Producing Companies - 2012 Incident Rates (Mine Safety and Health Administration)

Source: MSHA. Note: Total Incident Rate = (total number of employee incidents x 200,000) / total man-hours.

Good Safety Record Indicates Well-Run Operations

IEA: "Coal is the backbone of global electricity generation"

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Source: Energy Facts Weekly, May 12, 2012

IEA projects that coal will overtake oil to become the world’s principal energy source in 2017

Media Engagement

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“No matter what we do, Asia is going to get their coal, and continue to grow,” said Darrin Old Coyote, chairman of the Crow Tribe. “We want to be part of that market ... This (Cloud Peak coal) project would double our budget and help us to meet a lot of unmet needs for social services and health care.”

In the Northwest, rising coal exports to Asia stir huge fight By HAL BERNTON April 27, 2013

DECKER, Mont. — At Spring Creek Mine, a broad black seam of coal, reaching depths of 80 feet, runs like a subterranean river through arid, sagebrush-covered hills. This is a world-class seam formed from the remnants of ferns, grasses and other plants that flourished here more than 50 million years ago, when this part of Montana was a humid marsh. Cloud Peak Energy, operators of this mine, and other companies have proposals that could eventually double the state’s coal production — part of the push for a big expansion of U.S. coal exports. “There has been more activity in Montana in the last three years than there has been in a generation,” said Todd O’Hair, a senior manager at Cloud Peak. Standing on the knoll where George Armstrong Custer made his last stand, you can watch the coal trains that already rumble north en route to British Columbia, where coal is now shipped to South Korea, Taiwan and Japan. To boost overseas sales, Cloud Peak also has secured rights to ship coal through Washington terminals proposed for Cherry Point near Bellingham and for Longview. The industry’s export push has put Montana on the front lines of what is shaping up as one of the Northwest’s biggest environmental battles in a decade. With coal-burning power plants a major contributor to global warming and ocean acidification, environmental groups and their allies have mounted a major campaign to try to restrict shipping coal overseas. Last fall, thousands of people turned out at public hearings on the proposed export terminal at Cherry Point. More than 100,000 people sent comments — many citing concerns about the impacts of increased coal-train traffic — to the county, state and federal agencies that will conduct environmental reviews…

At the Cloud Peak mining operation at Spring Creek, restoration is an ongoing effort as huge quantities of rock rubble are piled into pits that have been stripped of coal. Topsoil, set aside during the initial excavations, is layered over the rock and eventually seeded with greasewood, sagebrush and other native plants prescribed by state regulators who enforce the federal Reclamation Act.

This reclamation is intended to create habitat for sage grouse and other wildlife. On a recent tour of the mine, nine deer could be spotted browsing in a restored tract that was planted last year.

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More Media Engagement

The Crow Nation chairman, Darrin Old Coyote, insisted that coal was a gift to his community that goes back to the tribe’s creation story. “Coal is life,” he said. “It feeds families and pays the bills.”

“We understand the issue of global warming, but at the same time, because of the economy of the tribe, we are dependent on coal,” said Cedric Black Eagle, the former chairman of the Crow Nation, who began contract negotiations with Cloud Peak.

Coal Industry Pins Hopes on Exports as U.S. Market Shrinks By CLIFFORD KRAUSS June 14, 2013

CROW AGENCY, Mont. — Every few hours trains packed with coal pass through the sagebrush-covered landscape here in southern Montana, some on their way north to Canadian ports for shipment to Japan and South Korea. If the mining company Cloud Peak Energy has its way, many more trains will cross the prairie to far larger proposed export terminals in Washington State. It’s part of a push by the nation’s coal industry, hobbled by plummeting demand as Americans turn to cleaner natural gas, to vastly expand what it sends to Asia and Europe. But the aggressive effort to rescue the $40 billion industry is running into fierce opposition from environmental groups, who say pollution caused by burning coal should not be exported. The two sides have engaged in an increasingly pitched battle, in regulatory arenas and on the airwaves, scaring off some investors and raising concerns about the fate of the industry, which is seen as a key to economic growth in Western states like Montana and Wyoming. “The future of the U.S. coal industry is at stake,” said Richard Morse, managing director at SuperCritical Capital, an energy consultancy. “Their future domestically is dim and demand growth internationally is very robust, so it is fair to say that a resuscitation of the industry has to come overseas.” The future of the impoverished Crow Nation may also hang in the balance since it owns an enormous deposit of up to 1.4 billion tons of coal — more than the United States produces in a year. But before Cloud Peak can mine the land and send the coal to energy-hungry nations in Asia, it needs more export terminals to be built in the Pacific Northwest, and those have been delayed or, in some cases, scuttled after investors grew weary of the continued opposition from environmental groups…

Mine Tours – 11 Journalists in 12 months

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Veteran employee retires from male-dominated profession

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DECKER, MONT. — As machine operators and managers went about their business last Thursday, a melancholy air hung around the offices of Spring Creek Coal Mine just north of Sheridan. Out in the field, Joyce Neal — a woman affectionately known by her coworkers as Granny — was putting in her last shift as a shovel operator after three entire decades at the mine. “It’s a wonderful job,” Neal said during a break that afternoon. “I’m going to be sad when I leave.”

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Notable Recent Headlines

Army Corps' lump of coal for greens

Army Corps deal blow to greens on coal exports

Army Corps gets it right on coal review

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More Notable Recent Headlines

DINGELL: CLEAN AIR ACT NOT BEST WAY TO TACKLE GHG EMISSIONS: Rep. John Dingell (D-Mich.) thinks the Clean Air Act "is not the most effective way to regulate greenhouse gases, and legislation to address specifically greenhouse gas emissions is far more preferable," he wrote last week to President Barack Obama.

Coal has a future in Michigan: “Think the days of coal plants in Michigan are numbered? Not so fast.” Op-ed by Mark J. Perry, professor of economics at the Flint campus of the University of Michigan

A Montana tribe encourages coal mining, for its own well-being: Coal. So 19th century, right? That’s not how the Crow tribe in southeastern Montana sees it. For Darrin Old Coyote, the tribe’s chairman, coal is the Crow's present and their future. “Coal is life,” he says.

Headlines from Key States

Oklahoma: “Customers

may soon foot $1 billion

OG&E bill if EPA forces

coal plant changes”

Texas: “No, Wind Turbines

Didn’t Keep Texas Grid

Online”

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Arkansas: “SWEPCO gets approval from Ark. PSC to retrofit

Flint Creek plant”

Colorado: “Colo. governor: Interior bureaucrats biased on

species issue”

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Top-Coal Producing States

Coal Country

Equipment

Explosives

Tires

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Always on-the-record – Professional reporters will announce who they are, their outlet and request an interview; not all reporters are professional reporters.

Avoid sarcasm, jokes and off-hand comments – things are easily taken out of context by an audience.

Avoid jargon and acronyms – The general public does not know what we do or why we do it, so keep it simple, providing a baseline for the audience.

Handling tough questions – ‘I’ll get back to you’ or ‘Let me put you in touch with someone who can answer that’ are good answers to any question.

Tips for Reporters/Citizen Journalists

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Thank You!

Rick Curtsinger Media Relations Manager Cloud Peak Energy Rick.Curtsinger@cldpk.com (720) 566-2948