X0306 4 2013-03-11 0001441849 CLOUD PEAK ENERGY INC. CLD 0001477112 BARRETT MICHAEL 505 S. GILLETTE AVE. GILLETTE WY 82716 1 Exec Vice President & CFO Common Stock 2013-03-11 4 A 0 11428 0 A 64942 D Employee Non-Qualified Stock Option (Right to Buy) 17.50 2013-03-11 4 A 0 22947 0 A Common Stock 22947 22947 D Performance Units 2013-03-11 4 A 0 22857 0 A Common Stock 22857 22857 D Each restricted stock unit represents a contingent right to receive one share of Cloud Peak Inc. common stock. 100% of the restricted stock units vest three years after the date of grant. 100% of the option vests three years after the date of grant. Nonqualified options granted under Cloud Peak Energy Inc.'s 2009 Long Term Incentive Plan expire ten years after the date of grant. Each performance right represents a contingent right to receive one share of Cloud Peak Energy Inc. common stock. The performance rights vest 3 years from the date of grant upon Cloud Peak Energy's achievement of Performance Goals, which are based upon Cloud Peak Energy's relative and absolute total shareholder return. These achievements may result in a payout range between 0% and 200% of the target. The number of performance rights shown in columns 5 and 7 is equal to the target number of performance rights that may be earned. There is no expiration date for performance rights. /s/ Lisa Kish, attorney-in-fact for Michael Barrett 2013-03-13