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Investor Presentaiton

BNSF 2016 Operating Expenses THIRD QUARTER Compensation & Benefits -$27M (-2%) $ in Millions % Change vs. 2015 NINE MONTHS ENDED 9/30/2016 Compensation & Benefits -$291M (-8%) Materials & Other -$13M (-5%) $267 $1,193 37% 8% Equipment Rents $198 -$7M (-3%) 6% $534 16% Depreciation & $562 Amortization 17% +$31M (+6%) Materials & Other -$103M (-11%) $3,535 37% $810 8% Equipment Rents $570 -$33M (-5%) 6% $533 16% Fuel -$137M (-20%) $1,584 16% Depreciation & Amortization $1,789 19% +$96M (+6%) Purchased Services -$71M (-11%) TOTAL OPERATING EXPENSES CHANGE FROM 2015 $1,359 14% Fuel -$721M (-35%) Purchased Services -$120M (-6%) $3,287M -$224M (-6%) TOTAL OPERATING EXPENSES CHANGE FROM 2015 $9,647M -$1,172M (-11%) BNSF 23 23
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