PitchSend

Investor Presentaiton

Financial Management Shareholder Returns • · Flexible - No target/minimum requirement Excess cash - defined as cash after: • Maintenance capital • Expansion capital • Liquidity Target Leverage Ranges¹ ● Adjusted Debt to EBITDAR less Maintenance Capital - 3 to 4x EBITDAR less Maintenance Capital Interest Coverage – 5 to 6x 1. Metrics are non-GAAP. Please refer to the Appendix of this presentation for a Non-GAAP Reconciliation of the "Adjusted Debt to EBITDAR less Maintenance Capital" and "EBITDAR less Maintenance Capital Interest Coverage" pursuant to SEC Regulation G. - BNSF 28

View entire presentation