1. M ICHAEL B AKER C ORPORATION April 17, 2001 2001 IPAA Oil & Gas Investment Symposium e ngineering e nergy and solutions Presented by

2. 2001 IPAA Engineering & Energy Safe Harbor This presentation will contain information related to events which may occur in the future. These forward- looking statements may include future business trends, revenue and earnings forecasts, and acquisition and corporate finance activity. These statements are subject to market, operating and other risks and uncertainties and, as a result, actual results may vary. Such forward- looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

3. 2001 IPAA Engineering & Energy Profile/Summary n n AMEX - listed: BKR n n Founded in 1940; Publicly Traded Since 1969 n n A Leader in Professional Services u u Oil & Gas Production O&M u u Transportation and Civil Infrastructure Engineering n n Large Global Markets n n Under-followed Micro-Cap, Valued at 3x EBITDA n n AMEX - listed: BKR n n Founded in 1940; Publicly Traded Since 1969 n n A Leader in Professional Services u u Oil & Gas Production O&M u u Transportation and Civil Infrastructure Engineering n n Large Global Markets n n Under-followed Micro-Cap, Valued at 3x EBITDA

4. 2001 IPAA Engineering & Energy Engineering

5. 2001 IPAA Engineering & Energy Energy

6. 2001 IPAA Engineering & Energy OPCOe-OPS Manpower Supply Knowledge Management T2B Decisional Price-Sensitive Business Model Evolution Transactional

7. 2001 IPAA Engineering & Energy Growth Drivers n Outsourcing and Industry Growth Commitments of Major and Independent Oil and Gas Producers n Political and Economic Requirements to Develop Nationalized Workforce n Favorable Environment of Cost Per Barrel of Oil n Deregulation of Electric Power Industry n Outsourcing and Industry Growth Commitments of Major and Independent Oil and Gas Producers n Political and Economic Requirements to Develop Nationalized Workforce n Favorable Environment of Cost Per Barrel of Oil n Deregulation of Electric Power Industry

8. 2001 IPAA Engineering & Energy Energy Houston Lafayette London Lagos Caracas Bangkok Anchorage Abu Dhabi Supply Chain Management Mechanical Maintenance O&M Services Operations Engineering Manpower Training Recruiting Major and Large Independent Oil & Gas U.S. Electric Utilities and I.P.P. Major and Large Independent Oil & Gas U.S. Electric Utilities and I.P.P. LOCATION SERVICES CUSTOMERS Abu Dhabi Challenge Us

9. 2001 IPAA Engineering & Energy Our Domestic Market

10. 2001 IPAA Engineering & Energy OPCO SM Operations Supply Chain HSE OPCO Training & Development Maintenance Management Human Resources SM Business Growth

11. 2001 IPAA Engineering & Energy OPCO SM Total GOM OPCO-Type Market: $3.0b Baker OPCO Revenues in $ Millions (Estimated)

12. 2001 IPAA Engineering & Energy Our Domestic Market

13. 2001 IPAA Engineering & Energy OPCO SM Value Drivers n n Penetrate Cost Floor n n More Efficient Use of Critical Resources n n Maintain HSE Excellence n n Cost Savings of 10-20% n n Performance-based Contracts n n Penetrate Cost Floor n n More Efficient Use of Critical Resources n n Maintain HSE Excellence n n Cost Savings of 10-20% n n Performance-based Contracts

14. 2001 IPAA Engineering & Energy OPCO SM Client Baker VALUE CREATION SHARED SAVINGS LEVERAGED ECONOMIES of SCALE Fixed Fee Income Annual Performance Bonus Sharing Cost Savings Reduced Operating Costs Increased Revenues Increased Efficiency OPCO SM Value Drivers

15. 2001 IPAA Engineering & Energy e-OPS n n Fully-Integrated, Operations and Maintenance System for Upstream Energy Industry n n Alliance: u u Baker - Content u u SAIC - Technology, Telecom and Knowledge Management n n Global Market - $160 Billion n n Benefits u u Shortened Cycle Time u u Improved Operating Performance u u Lower Cost of Operation u u Greater Asset Return n n Fully-Integrated, Operations and Maintenance System for Upstream Energy Industry n n Alliance: u u Baker - Content u u SAIC - Technology, Telecom and Knowledge Management n n Global Market - $160 Billion n n Benefits u u Shortened Cycle Time u u Improved Operating Performance u u Lower Cost of Operation u u Greater Asset Return

16. 2001 IPAA Engineering & Energy Total Revenues Energy

17. 2001 IPAA Engineering & Energy Operating Performance (in Thousands of $) Adjusted for $1 Million Non-Recurring Charge 5,471

18. 2001 IPAA Engineering & Energy EPS Growth

19. 2001 IPAA Engineering & Energy Conclusion n n Under-followed Micro-Cap, Valued at 3x EBITDA n n A Leader in Professional Services u u Oil & Gas Production O&M u u Transportation and Civil Infrastructure Engineering n n Expanding Outsourcing Trend in Core Business n n OPCO SM Model Driving Energy Segment Growth and Margin Improvement n n Under-followed Micro-Cap, Valued at 3x EBITDA n n A Leader in Professional Services u u Oil & Gas Production O&M u u Transportation and Civil Infrastructure Engineering n n Expanding Outsourcing Trend in Core Business n n OPCO SM Model Driving Energy Segment Growth and Margin Improvement

20. M ICHAEL B AKER C ORPORATION April 17, 2001 2001 IPAA Oil & Gas Investment Symposium e ngineering e nergy and solutions Presented by

21. 2001 IPAA Engineering & Energy Cash Flow (in millions of $)

22. 2001 IPAA Engineering & Energy Balance Sheet (in millions of $)