8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): November 29, 2011

SUNCOKE ENERGY, INC.

(Exact name of registrant as specified in its charter)

Delaware	001-35423	90-0604593
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
1011 Warrenville Road, Suite 600 Lisle, Illinois		60532
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (630) 824-1000

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

On November 29, 2011, SunCoke Energy, Inc. (the “Company”) issued a press release providing an outlook for its business in 2012. A copy of this press release is attached as Exhibit 99.1 and is incorporated herein by reference.

Item 7.01. Regulation FD Disclosure.

Frederick “Fritz” A. Henderson, the Company’s Chairman and Chief Executive Officer, and Mark Newman, the Company’s Senior Vice President and Chief Financial Officer, will present at the Goldman Sachs Global Steel Conference in New York, NY at 9:30 a.m. ET on Tuesday, November 29, 2011.

Mr. Newman also will present at the Bank of America Merrill Lynch Leveraged Finance Conference in Orlando, FL at 2:00 p.m. ET on Wednesday, November 30, 2011.

Interested parties can access live audio webcasts of the presentations at www.suncoke.com in the Investor Relations section of the website. The webcasts will be archived for replay for a limited time.

A copy of the slide presentation that the Company will use at the conferences is attached as Exhibit 99.2 and is incorporated herein by reference.

The information in this report, being furnished pursuant to Items 2.02, 7.01 and 9.01 of Form 8-K, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and is not incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Exhibit
99.1	Press release dated November 29, 2011.
99.2	November 2011 – Conference Slides.

Forward-Looking Statements

Statements contained in the exhibits to this report that state the Company’s or its management’s expectations or predictions of the future are forward-looking statements. The Company’s actual results could differ materially from those projected in such forward-looking statements. Factors that could affect those results include those mentioned in the documents that the Company has filed with the Securities and Exchange Commission.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

SUNCOKE ENERGY, INC.
By:	/s/ Mark E. Newman
Mark E. Newman
Senior Vice President and Chief Financial Officer

Date: November 29, 2011

EXHIBIT INDEX

Exhibit No.	Exhibit
99.1	Press release dated November 29, 2011.
99.2	November 2011 – Conference Slides.

EX-99.1

Exhibit 99.1

SUNCOKE ENERGY, INC. PROVIDES 2012 OUTLOOK

• Full year 2012 Adjusted EBITDA is projected to be between $250 million and $280 million

• 2012 capital expenditures, including investments, are anticipated to be approximately $150 million

• Domestic coke production is expected to increase to 4.0 - 4.2 million tons in 2012, primarily due to the start-up of the new Middletown, Ohio cokemaking facility

• Coal production is projected to increase by 400,000 tons to about 1.8 million tons in 2012

Lisle, IL. (November 29, 2011) – SunCoke Energy, Inc. (NYSE: SXC) today provided an outlook for its business in 2012 including guidance on coke and coal production, earnings, capital expenditures and other key financial measures.

“2011 was a foundational year for SunCoke and one that positioned us well for the future.” said Frederick “Fritz” A. Henderson, Chairman and Chief Executive Officer of SunCoke Energy, Inc. “In 2012, we expect adjusted EBITDA to be between $250 million to $280 million, a projected increase of at least $100 million versus 2011. We expect this projected increase will be driven by production at our new Middletown, Ohio facility, year-over-year improvement in our Indiana Harbor operations and higher sale prices and production volumes in our coal mining segment.”

Henderson continued, “In addition, in 2012 we expect to make further progress on our long-term strategic objective to grow our global cokemaking business by focusing on our entry into India and obtaining permits for a new U.S. cokemaking plant in anticipation of an eventual market recovery.”

SunCoke also noted that capital expenditures and investments in 2012 are expected to be approximately $150 million, including a potential $30 million investment in India, versus an estimated $280 million in 2011. This anticipated lower level of capital spending reflects lower expansion capital requirements due to the completion of the Middletown facility. Free cash flow is expected to be in excess of $50 million in 2012. In addition, in 2012, SunCoke expects corporate costs to be between $30 million to $35 million, its effective tax rate to be between 20 percent and 24 percent and earnings per share to be between $1.30 and $1.65 based on 70 million shares outstanding.

SunCoke Energy, Inc.

Page | 2

UPCOMING COMMUNICATIONS

As previously announced, members of SunCoke’s senior management will present at the following investor conferences:

• Frederick “Fritz” A. Henderson, Chairman and Chief Executive Officer, and Mark Newman, Senior Vice President and Chief Financial Officer, will present at the Goldman Sachs Global Steel Conference in New York, NY at 9:30 a.m. ET on Tuesday, November 29, 2011.

• Mark Newman, Senior Vice President and Chief Financial Officer will present at the Bank of America Merrill Lynch Leveraged Finance Conference in Orlando, FL at 2:00 p.m. ET on Wednesday, November 30, 2011.

These presentations will be webcast live and archived for replay for a limited time in the Investor Relations section of the Company’s website at www.suncoke.com.

DEFINITIONS

• This press release includes certain forward-looking non-GAAP financial measures.

• Adjusted EBITDA represents earnings before interest, taxes, depreciation, depletion and amortization (“EBITDA”) adjusted for sales discounts and the deduction of income attributable to non-controlling interests in our Indiana Harbor cokemaking operations. EBITDA reflects sales discounts included as a reduction in sales and other operating revenue. The sales discounts represent the sharing with customers of a portion of nonconventional fuels tax credits, which reduce our income tax expense. However, we believe our Adjusted EBITDA would be inappropriately penalized if these discounts were treated as a reduction of EBITDA since they represent sharing of a tax benefit which is not included in EBITDA. Accordingly, in computing Adjusted EBITDA, we have added back these sales discounts. Our Adjusted EBITDA also reflects the deduction of income attributable to noncontrolling interests in our Indiana Harbor cokemaking operations. EBITDA and Adjusted EBITDA do not represent and should not be considered alternatives to net income or operating income under GAAP and may not be comparable to other similarly titled measures in other businesses. Management believes Adjusted EBITDA is an important measure of the operating performance of the Company’s net assets and is indicative of the Company’s ability to generate cash from operations.

• Free Cash Flow equals cash from operations less cash used in investing activities less cash distributions to non-controlling interests. Management believes Free Cash Flow information enhances an investor’s understanding of a business’ ability to generate cash. Free Cash Flow does not represent and should not be considered an alternative to net income or cash flows from operating activities as determined under United States generally accepted accounting principles (GAAP) and may not be comparable to other similarly titled measures of other businesses.

• The GAAP measures most comparable to the forward-looking non-GAAP financial measures included in this press release are not accessible on a forward-looking basis and reconciling information is not available without unreasonable effort.

SUNCOKE ENERGY, INC.

SunCoke Energy, Inc. is the largest independent producer of metallurgical coke in the Americas, with more than 45 years of experience supplying coke to the integrated steel industry. Our advanced, heat recovery cokemaking process produces high-quality coke for use in steelmaking, captures waste heat for derivative energy resale and meets or exceeds environmental standards.

SunCoke Energy, Inc.

Page | 3

Our cokemaking facilities are located in Virginia, Indiana, Ohio, Illinois and Vitoria, Brazil, and our coal mining operations, which have more than 100 million tons of proven and probable reserves, are located in Virginia and West Virginia. To learn more about SunCoke Energy, Inc., visit our website at www.suncoke.com.

FORWARD LOOKING STATEMENTS

Some of the statements included in this press release constitute “forward looking statements” (as defined in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended). Such forward-looking statements are based on management’s beliefs and assumptions and on information currently available. You should not put undue reliance on any forward-looking statements. Forward-looking statements include all statements that are not historical facts and may be identified by the use of forward looking terminology such as the words “believe,” “expect,” “plan,” “project,” “intend,” “anticipate,” “estimate,” “predict,” “potential,” “continue,” “may,” “will,” “should” or the negative of these terms or similar expressions. Forward-looking statements involve risks, uncertainties and assumptions.

Risks and uncertainties that could cause actual results to differ materially from those expressed in forward-looking statements include economic, business, competitive and/or regulatory factors affecting the Company’s business, as well as uncertainties related to the outcomes of pending or future litigation, legislation, or regulatory actions. Among such risks are: changes in levels of production, production capacity, pricing and/or margins for metallurgical coal and coke; variation in availability, quality and supply of metallurgical coal used in the cokemaking process; effects of railroad, barge, truck and other transportation performance and costs; changes in the marketplace that may affect supply and demand for the Company’s metallurgical coal and/or coke products; relationships with, and other conditions affecting, customers; the deferral of contracted shipments of coal or coke by customers; ability to collect payments from customers; volatility and cyclical downturns in the carbon steel industry and other industries in which the Company’s customers operate; the ability to secure new coal supply agreements or to renew existing coal supply agreements or to enter into new long-term agreements for the supply of metallurgical coke to domestic and/or foreign steel producers; the ability to acquire or develop coal reserves in an economically feasible manner; defects in title or the loss of one or more mineral leasehold interests; effects of geologic conditions, weather, natural disasters and other inherent risks beyond the Company’s control; age of, and changes in the reliability, efficiency and capacity of the various equipment and operating facilities used in the Company’s coal mining and/or cokemaking operations, and in the operations of major customers and/or suppliers; changes in the expected operating levels of the Company’s assets; ability to meet minimum volume requirements, coal-to-coke yield standards and coke quality requirements in coke sales agreements; disruptions in the quantities of coal produced by contract mine operators; ability to obtain and renew mining permits, and the availability and cost of surety bonds needed in coal mining operations; availability of skilled employees and other workplace factors; changes in the level of capital expenditures or operating expenses, including any changes in the level of environmental capital, operating or remediation expenditures; effects of adverse events relating to the operation of the Company’s facilities and to the transportation and storage of hazardous materials (including equipment malfunction, explosions, fires, spills, and the effects of severe weather conditions); changes in product specifications; ability to identify, execute and integrate acquisitions and have them perform at anticipated levels; ability to enter into joint ventures and other similar arrangements under favorable terms; changes in the availability and cost of equity and debt financing; the amount of, and ability to service, outstanding indebtedness and to comply with the restrictions imposed by financing arrangements; changes in credit terms required by suppliers; changes in insurance markets impacting costs and the level and types of coverage available, and the financial ability of insurers to meet their obligations; changes in accounting rules and/or tax laws or their interpretations, including the method of accounting for inventories, leases and/or pensions; changes in financial markets impacting pension expense and funding requirements; risks related to labor relations and workplace safety; nonperformance or force majeure by, or disputes with or changes in contract terms with, major customers, suppliers, dealers,

SunCoke Energy, Inc.

Page | 4

distributors or other business partners; changes in, or new, statutes, regulations, governmental policies and taxes, or their interpretations; the accuracy of estimates of reclamation and other mine closure obligations; the existence of hazardous substances or other environmental contamination on property owned or used by the Company; the availability of future permits authorizing the disposition of certain mining waste; claims of noncompliance with any statutory and regulatory requirements; changes in the status of, or initiation of new litigation, arbitration, or other proceedings to which the Company is a party or liability resulting from such litigation, arbitration, or other proceedings; the possibility that Sunoco, Inc. may not affect its currently intended distribution of its remaining equity stake in the Company; effects resulting from our ultimate separation from Sunoco, Inc.; and the Company’s incremental costs as a stand-alone public company. Unpredictable or unknown factors not discussed in this release also could have material adverse effects on forward-looking statements.

In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, SunCoke Energy has included in its filings with the Securities and Exchange Commission cautionary language identifying important factors (but not necessarily all the important factors) that could cause actual results to differ materially from those expressed in any forward-looking statement made by SunCoke Energy. For more information concerning these factors, see SunCoke Energy’s Securities and Exchange Commission filings. All forward-looking statements included in this press release are expressly qualified in their entirety by such cautionary statements. SunCoke Energy undertakes no obligation to update publicly any forward-looking statement (or its associated cautionary language) whether as a result of new information or future events or otherwise.

EX-99.2

November 2011

Exhibit 99.2

1

Safe Harbor Statement

Goldman Sachs Global Steel Conference

Some of the information included in this presentation contains “forward-looking statements” (as defined in Section 27A of the Securities Act

of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended). Such forward-looking statements are based

on management’s beliefs and assumptions and on information currently available. Forward-looking statements include the information

concerning Suncoke’s possible or assumed future results of operations, business strategies, financing plans, competitive position, potential

growth opportunities, potential operating performance improvements, effects resulting from our separation from Sunoco, the effects of

competition and the effects of future legislation or regulations. Forward-looking statements include all statements that are not historical

facts and may be identified by the use of forward-looking terminology such as the words “believe,” “expect,” “plan,” “project,” “intend,”

“anticipate,” “estimate,” “predict,” “potential,” “continue,” “may,” “will,” “should” or the negative of these terms or similar expressions.

Forward-looking statements involve risks, uncertainties and assumptions. Actual results may differ materially from those expressed in these

forward-looking statements. You should not put undue reliance on any forward-looking statements.

In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, SunCoke has included in its filings

with the Securities and Exchange Commission cautionary language identifying important factors (but not necessarily all the important

factors) that could cause actual results to differ materially from those expressed in any forward-looking statement made by SunCoke. For

more information concerning these factors, see SunCoke's Securities and Exchange Commission filings.  All forward-looking statements

included in this presentation are expressly qualified in their entirety by such cautionary statements. SunCoke undertakes no obligation to

update publicly any forward-looking statement (or its associated cautionary language) whether as a result of new information or future

events or otherwise.

This presentation includes certain forward-looking non-GAAP financial measures intended to supplement, not substitute for, comparable

GAAP measures. The GAAP measures most comparable to the forward-looking non-GAAP financial measures are not accessible on a

forward-looking basis and reconciling information is not available without unreasonable effort.

2

SunCoke Introduction

•

Largest independent producer of    

metallurgical coke in Americas with 

nearly 50 years experience

•

~85% of Adjusted EBITDA

(1)

generated

by cokemaking business

•

Secure, long-term take-or-pay

contracts with leading steelmakers

Pro Forma 2011

Adjusted EBITDA

(1)

Estimate

(excluding Corporate Segment)

2011 estimates:

•Revenue

of

$1.5

-

$1.6

billion

•Adjusted EBITDA

(1)

of $150 –

$160 million

(1)  For a definition of Adjusted EBITDA, please see the appendix

Goldman Sachs Global Steel Conference

Coal

Mining

12%

Jewell

Coke

28%

Int'l Coke

8%

Other Domestic Coke

55%

•

Metallurgical coal mining operations

in Virginia and West Virginia

•

Projected 2011 production of          

1.4 million tons

•

High quality metallurgical coal

reserves; primarily mid-vol.

3

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

2004

2005

2006

2007

2008

2009

2010

2011

Jewell Coke

Indiana Harbor

Haverhill I

Vitoria

Haverhill II

Granite City

Middletown

SunCoke Introduction (Cont’d)

SunCoke

Cokemaking Capacity

(Tons in thousands)

Goldman Sachs Global Steel Conference

•

5.9 million tons of capacity with 

new Middletown, Ohio facility

•

Six cokemaking facilities; five in 

U.S. and one in Brazil

•

More than doubled capacity 

since 2005

•

Proven ability to permit, develop,

construct and start up new 

facilities and work internationally

•

Industry leading environmental

signature:  U.S. EPA Maximum

Achievable Control Technology

4

Pressurization

Negative pressure

Positive pressure

Air Emissions

MACT standard for new batteries

Potential for emission of hazardous

compounds

Power Generation

Cogenerates power

Power consuming process

Hazardous Inputs

None

Yes – sulfuric acid

Volatile Organic Compounds

Complete combustion

No combustion

Solid Wastes

No toxic solid wastes

Process produces toxic waste streams

Water Usage

No wastewater discharges

Requires wastewater treatment facility 

SunCoke’s Heat Recovery Oven vs. By-Product Oven

SunCoke’s

technology

is

the

industry

’s

environmental

standard

and

provides

many

advantages

over

the

traditional cokemaking process

Goldman Sachs Global Steel Conference

SunCoke Heat Recovery

Traditional By-Product

5

SunCoke’s Contract Proposition

Permits and Approvals

Engineering, Procurement &

Construction

Capital Funding and Ownership

Reliable, High-Quality Coke Supply

Deliver Coke to customers through a competitive turnkey solution,

which produces a consistent stream of earnings

Operating Cost Component

(Pass-Through)

Fixed Fee

(Profit and Return on Capital)

Coal Cost Component

(Pass-Through)

Take-Or-Pay

Taxes, Transportation and Future

Environmental Costs (Pass-Through)

Coke fee

Energy fee

Typical Key Coke Sales Agreement

Provisions

What SunCoke Offers

Goldman Sachs Global Steel Conference

Customer

SunCoke

Energy

Plant Production and Environmental

Compliance

6

SunCoke’s Value Proposition

High Quality &

Reliable Coke

Supply

•

Provide an assured supply of coke to steelmakers

•

Larger, stronger coke

Turndown

Flexibility

•

Demonstrated sustained 30% turndown; higher turndown

on temporary basis

Coal Flexibility

•

High quality coke with cheaper coal blends

-

Burn loss of 2%-3% vs by-product

Capital Efficiency

and Flexibility

•

Capital preservation and lower capacity cost per ton;

particularly relative to greenfield investment

Environmental/

Economic

Trade-offs

•

Stringent U.S. regulatory environment

•

Power prices and reliability versus value of coke oven gas

and by-product “credits”

Goldman Sachs Global Steel Conference

7

Focused Growth Strategy

Expand domestic coal production from current reserves and

improve efficiency of existing mines

We believe

SunCoke

Energy is

uniquely

positioned for

continued

investment and

earnings

growth

Continue to grow our U.S. and Canada cokemaking businesses;

reserving portion of future coke capacity for market sales

Grow international footprint in key growth markets with

immediate focus on India

Growth Initiatives

Goldman Sachs Global Steel Conference

8

SunCoke's U.S. and Canada Industry Position

Chinese Coke Price vs. Representative SunCoke Price

North American Coke Imports

SunCoke believes it has the opportunity to displace higher cost coke imports . . .

.

SunCoke

Chinese

Q3 2011 Average:

$399

$440

2010 Average:

$336

$414

2008-2010 Average:

$326

$430

(US$/ton)

(Tons in millions)

Source: 

CRU, The Annual Outlook for Metallurgical Coke 2011.

(1)

Represents SunCoke’s domestic cokemaking capacity weighted by the number of months each

facility operated during that year.

(1)

Other Domestic Coke sales and other operating revenues divided by tons sold.

Goldman Sachs Global Steel Conference

$200

$300

$400

$500

$600

$700

Jan-08

Jan-09

Jan-10

Jan-11

5.4 

3.6 

5.6 

1.3 

2.5 

2.4 

2.8 

2.3 

2.6 

2.8 

3.6 

–

1.0

2.0

3.0

4.0

5.0

6.0

2006

2007

2008

2009

2010

2011E

2012E

2013E

2014E

2015E

2021E

SunCoke domestic coke sales volumes

SunCoke

weighted-average

domestic

cokemaking

capacity

(1)

9

SunCoke’s U.S. & Canada Market Position

Source:  CRU, The Annual Outlook for Metallurgical Coke 2011

Goldman Sachs Global Steel Conference

Source:  CRU, The Annual Outlook for Metallurgical Coke 2011

Aging Cokemaking Facilities

9

41

28%

28%

SunCoke

U.S. & Canada

(excl SXC)

30

40 years

40+ years

2010 U.S. & Canada Coke Supply

Integrated

Steel

Producers

60%

Imports

10%

Other

Merchant &

Foundry

7%

DTE

5%

SunCoke

18%

Average Age

%

of U.S. & Canada

coke production

   . . . and replace aging coke batteries operated by integrated steel producers

10

SunCoke's U.S. and Canada Industry Position

19

22

20

12

17

18

18

19

19

19

51

27

40

48

0

10

20

30

40

50

60

2006

2007

2008

2009

2010

2011E

2012E

2013E

2014E

2015E

Blast Furnace Coke Demand

BF/BOF Crude Steel Production

BF/BOF Crude Steel Production

and Blast Furnace Coke Demand

Aging battery

replacement

Demand growth with

market recovery

Expected demand

opportunity by

2015

5

3

•

SunCoke is positioned to capture significant share of market opportunity

•

Next US Coke plant size anticipated to be up to 1.1 million tons

2010 Coke Rate:

894 lbs/thm

2015E Coke Rate:

800 lbs/thm

Market Opportunity

Source:  CRU, The Annual Outlook for Metallurgical Coke 2011;  Company estimates

In million tons

million tons

Goldman Sachs Global Steel Conference

11

India –

Macro Outlook

Per  Capita Crude Steel Use

(2010)

Kg/y

India

58

Brazil

147

United States

292

China

445

World Avg.

221

Source: World Steel Association, 2011 

Significant

Expected

GDP

Growth

Source: CIA World Factbook

Goldman Sachs Global Steel Conference

•

1.2 billion people today

•

Projected 1.5 billion by 2030

•

Growth equal to the entire US

population

•

Less than 50% urban population

•

Vehicle production 3.6 MM (’11)

vs. 13 MM in NAFTA

•

Lowest steel intensity of BRICs

•

Economy expected to grow    

6-8% per year

•

Per capital income could triple

Population growth

Urbanization

Economic prosperity

Source:  Census.gov, United States Census Bureau - International Data Base, CIA World Factbook

12

India Opportunity for SunCoke

Goldman Sachs Global Steel Conference

GROWING STEEL MARKET

•

Projected to be 3rd largest

steel market by 2020

•

Blast furnace to play a

critical role in growth

COKE SUPPLY DEFICIT

•

Importing between 2 and     

5 million tons annually

•

Coke capacity investment

lags steel investment

ACTIVE MERCHANT MARKET

•

3.5 million tons merchant

production or 13% of total

•

17 active merchant coke

producers

ELECTRIC POWER DEFICIT

•

10% -

20% short power

•

Average wholesale price

>$80 mwh (2x U.S. rate)

India

Steel/Coke

Market

Strong market

fundamentals

with good fit

for SunCoke

technology

Sources:  CRU, The Annual Outlook for

Metallurgical Coke 2011,  CIA World Factbook

13

Coal Expansion

0.35 million tons expected

surface mining

1.15 million tons

expected production from Jewell

underground mines

0.30 million tons HKCC acquisition

2012 Coal Production

Planned Growth

Current Operations

Underground

Mining

Surface

Mining

Selective

Reserve

Additions

1.80 million tons

(Projected 2012 production )

+

+

=

106 million tons of proven

and probable reserves

Reserve life of 50+ years

Near term focus on increasing

productivity at existing mines;

will defer opening new mines

until 2013

Currently limited to highwall

mining at HKCC

Signed agreement to extract

additional surface tons

-

Expect 1.2 million tons

over 3 years beginning in

2012

Acquired Harold Keene Coal

Companies in January 2011

Open to opportunistic

additions of coal reserves

Goldman Sachs Global Steel Conference

14

2011 Summary

•

Continued sequential quarterly operational and financial improvements,

generating

full

year

estimated

2011

Adjusted

EBITDA

of

$150

-

$160

million

•

Coke earnings growth on track with Indiana Harbor operating

improvements and increased ownership interest plus Middletown start-up

•

Took first steps in our India entry strategy; conducted due diligence and

began negotiating definitive agreement with Global Coke

•

Grew earnings in Coal Mining segment despite challenges, positioned

business for upside in 2012/2013

•

Solid liquidity position even after Indiana Harbor partnership purchase and

working capital build

•

Built management team to support public company, completed IPO and

raised $700 million of debt

In 2011, we strengthened our foundation

and positioned business for growth in 2012 and beyond

Goldman Sachs Global Steel Conference

15

2012 Priorities

•

Execute the start up of Middletown; expect to reach full production levels

no later than July 2012

•

Achieve targeted coke production volumes of 4.0 to 4.2 million tons

through ongoing focus on operational excellence, including safety and

environmental stewardship, at all facilities

•

Continue permitting work for potential new U.S. plant in anticipation of a

market recovery

•

Implement India entry strategy by completing due diligence and

negotiating definitive agreement with Global Coke

•

Drive improved productivity at existing mines; mining a projected             

1.8 million tons and positioning segment for future expansion

Goldman Sachs Global Steel Conference

16

Coal Expansion

Coal prices offer attractive growth and

return on capital in our coal mining business

2012

Estimates

MV

(2)

HV

Thermal

Total

Sales Tons

(1)

1,550k

150k

150k

1,850k

% Committed

82%

27%

40%

74%

Price of

Committed

Tons

$176

$130

$81

$170

Estimated Price Range of Uncommitted Tons

High

$190

$135

$85

Low

$170

$115

$75

(1)

Includes approximately 50k of purchased coal

(2)

Includes approximately 200k of 2011 carryover tonnage at $165

Goldman Sachs Global Steel Conference

2010

2011

2012E

$130

$165

$170 -

$190

SunCoke’s Mid-Vol. Coal

Contract Prices

17

$150 -

$160 

$70 -$80 

$25 -

$40

2011E

Adj. EBITDA

Coke

Coal Mining

Corporate

and Other

2012E

Adj. EBITDA

$250 -

$280

$250 -

$280

$0 -

$5

2012 Adjusted EBITDA

(1)

Outlook

($ in millions)

(1)

For a definition of Adjusted EBITDA, please see the appendix.

(2)

Excluding corporate costs

•

Middletown

•

Indiana Harbor

improvement

•

Higher prices and

volumes

Goldman Sachs Global Steel Conference

Estimated

2012

Adjusted

EBITDA

(1)

projected

to

increase

by

$100

million

to

$120

million

versus

projected

2011;

expect

80%

-

85%

of

2012

Adjusted

EBITDA

(1,

2)

will

be

generated

by

cokemaking

business

18

2012 Outlook Summary

Metric

Expected 2012 Outlook

Adjusted EBITDA

$250 million –

$280 million

Capital Expenditures

& Investments

Approximately $150 million

Free Cash Flow

$50 million +

Effective Tax Rate

20% –

24%

Corporate Costs

$30 million -

$35 million

Coke Production

4.0 -

4.2 million tons

Coal Production

Approximately 1.8 million tons

EPS (at 22% tax rate)

$1.30 -

$1.65

Goldman Sachs Global Steel Conference

19

SunCoke Summary

2011 Key

Transition Year

•

Settled ArcelorMittal

disputes in January

•

Built management

team and went public

•

Started up

Middletown facility;

stabilized Indiana

Harbor; and framed

coal expansion for

current environment

2012 Outlook

•

Recognizes current

cautious U.S. industry

environment

•

SXC believes it will

benefit from critical

actions taken in 2011

to drive profitability

and cash flow

improvement

Growth

Outlook

•

Continue to explore

opportunities in China

and Brasil

•

U.S. continues to be

key priority; with India

entry expected in 2012

Goldman Sachs Global Steel Conference

20

Appendix

Goldman Sachs Global Steel Conference

21

Definitions

•

Adjusted

EBITDA

represents

earnings

before

interest,

taxes,

depreciation,

depletion

and

amortization

(“EBITDA”)

adjusted for sales discounts and the deduction of income attributable to non-controlling interests in our Indiana Harbor

cokemaking

operations.

EBITDA

reflects

sales

discounts

included

as

a

reduction

in

sales

and

other

operating

revenue.

The sales discounts represent the sharing with our customers of a portion of nonconventional fuels tax credits, which

reduce our income tax expense. However, we believe that our Adjusted EBITDA would be inappropriately penalized if

these

discounts

were

treated

as

a

reduction

of

EBITDA

since

they

represent

sharing

of

a

tax

benefit

which

is

not

included

in EBITDA. Accordingly, in computing Adjusted EBITDA, we have added back these sales discounts. Our Adjusted

EBITDA also reflects the deduction of income attributable to noncontrolling interest in our Indiana Harbor cokemaking

operations. EBITDA and  Adjusted EBITDA do not represent and should not be considered alternatives to net income or

operating income under GAAP and may not be comparable to other similarly titled measures of other businesses.

Management believes Adjusted EBITDA is an important measure of the operating performance of the Company’s assets

and is indicative of the Company’s ability to generate cash from operations.

•

Free Cash Flow

equals cash from operations less cash used in investing activities less cash distributions to non-

controlling interests.  Management believes Free Cash Flow information enhances an investor’s understanding of a

business’

ability to generate cash.  Free Cash Flow does not represent and should not be considered an alternative to net

income or cash flows from operating activities as determined under United States generally accepted accounting principles

(GAAP) and may not be comparable to other similarly titled measures of other businesses.

Goldman Sachs Global Steel Conference

22

Media releases and SEC filings are available

on our website at www.suncoke.com

Contact Investor Relations for more information: 630-824-1907

Goldman Sachs Global Steel Conference