Investor Presentaiton

First Quarter 2017 Results FREIGHT REVENUES Coal +$181M (+23%) Consumer Products +$136M (+9%) $1,680 34% $960 19% TOTAL FREIGHT REVENUES CHANGE FROM 2016 $1,108 22% Ag Products +$60M (+6%) TOTAL UNITS Coal +74K (+18%) 475 19% 280 11% $1,224 25% 1,299 53% Industrial Products +$46M (+4%) Consumer Products +69K (+6%) $4,972M +$423M (+9%) BNSF $ in Millions Units in Thousands % Change vs. 2016 Ag Products +5K (+2%) 426 Industrial Products 17% +2K (+0%) TOTAL UNITS CHANGE FROM 2016 2,480K +150K (+6%) 6

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