3. The Burlington Northern and Santa Fe Railway Company David Deaton September 18, 2000

4. BNSF Vision “Our vision is to realize the tremendous potential of BNSF by providing transportation services that consistently meet our customer’s expectations.”

5. BNSF Rail Network Covers western 2/3 US 34,000 route miles 28 states 2 Canadian Provinces West coast and Gulf ports

6. Commodity Summary Coal Chemicals I n t e r m o d a l Forest Products Grain Automotive

8. Coal Dedicated unit train service from Wyoming coal fields to Midwest and Southeastern energy plants $2.5 billion annual revenue or 18% total BNSF Key customers: Detroit Edison Enron Commonwealth Edison Dedicated unit train service from Wyoming coal fields to Midwest and Southeastern energy plants $2.5 billion annual revenue or 18% total BNSF Key customers: Detroit Edison Enron Commonwealth Edison

10. Agricultural Products Dedicated unit train service from Midwestern grain belt to PNW and Gulf ports and Mexico $1 billion annual revenue Transportation traded on secondary markets Key customers: ConAgra Archer Daniels Midland Co. Cargill Dedicated unit train service from Midwestern grain belt to PNW and Gulf ports and Mexico $1 billion annual revenue Transportation traded on secondary markets Key customers: ConAgra Archer Daniels Midland Co. Cargill

12. Industrial Products Four primary segments: Forest Products Chemicals Metals Minerals/Machinery $2.5 billion annual revenue Key customers: Weyerhauser, Boise Cascade Shell, Texaco, Occidental Petroleum Alcoa, US Steel, Bethlehem Steel Boeing Four primary segments: Forest Products Chemicals Metals Minerals/Machinery $2.5 billion annual revenue Key customers: Weyerhauser, Boise Cascade Shell, Texaco, Occidental Petroleum Alcoa, US Steel, Bethlehem Steel Boeing

14. Intermodal High speed truck competitive train network Four segments Direct/Parcel (UPS, USPS, Roadway, Yellow Freight) Truckload (JB Hunt, Schneider National) International (Evergreen, Maersk, Hanjin) IMC (Hub Group, Alliance Shippers, Railvan) Retail customers include WalMart, Target, Home Depot $2.7 billion annual revenue, fastest growing business High speed truck competitive train network Four segments Direct/Parcel (UPS, USPS, Roadway, Yellow Freight) Truckload (JB Hunt, Schneider National) International (Evergreen, Maersk, Hanjin) IMC (Hub Group, Alliance Shippers, Railvan) Retail customers include WalMart, Target, Home Depot $2.7 billion annual revenue, fastest growing business

16. Automotive Service from Midwestern plants and West Coast ports to major population centers $500 million annual revenue Key customers: Ford Motor American Honda DaimlerChrysler Corporation Service from Midwestern plants and West Coast ports to major population centers $500 million annual revenue Key customers: Ford Motor American Honda DaimlerChrysler Corporation

17. My Work Price creation Price implementation Market research $160 annual revenue responsibility Scrap metal Pulpboard/wrapping paper Kaolin Clay Price creation Price implementation Market research $160 annual revenue responsibility Scrap metal Pulpboard/wrapping paper Kaolin Clay

18. Pricing Research Example Supply Demand PNW Lumber Market Supply Demand Chicago Lumber Market The $57/mbf Spread is available for Transportation The Spread IS Transportation = $5,700 per railcar The $57/mbf Spread is available for Transportation The Spread IS Transportation = $5,700 per railcar $345/mbf $402/mbf Confidential Information

19. Management Trainee Sponsoring Departments Marketing Operations Accounting and Finance IS Human Resources Marketing Operations Accounting and Finance IS Human Resources

20. BNSF Management Trainee Program Purpose - to provide a source for organizational renewal, support diversity initiatives, and infuse BNSF with new business processes and technologies Start with 1 month orientation program After 6 months of training in two functional areas management trainees transition into full time jobs Purpose - to provide a source for organizational renewal, support diversity initiatives, and infuse BNSF with new business processes and technologies Start with 1 month orientation program After 6 months of training in two functional areas management trainees transition into full time jobs

21. Career Development Mentoring circles Internal job posting system Cross functional opportunities Competency based development and selection Performance evaluations Mentoring circles Internal job posting system Cross functional opportunities Competency based development and selection Performance evaluations

22. Compensation/Benefits Incentive compensation plan Stock options Medical, dental and life insurance 401K plan, pension plan Tuition reimbursement Short term and long term disability Railroad retirement Incentive compensation plan Stock options Medical, dental and life insurance 401K plan, pension plan Tuition reimbursement Short term and long term disability Railroad retirement

24. Questions?