1. Security Convenience Freedom Safety Time Productivity PrivacyChoices Efficiency Lifestyle Comfort Reliability Flexibility Success

2. NetJets will change your life !

3. History of NetJets n Executive Jet, the original company was established in 1964 as the first private charter company in the world. n NetJets fractional aircraft ownership program was created in 1986. n Berkshire Hathaway purchased Executive Jet in 1998.

4. Our Corporate Structure NetJets ®, Inc. NetJets ® U.S. Executive Jet Management (Charter) NetJets  Europe NetJets  Middle East

5. What is Fractional Aircraft Ownership? n An undivided interest in a specific, serial numbered aircraft based on the number of hours you fly in a year.

6. How NetJets Works n Undivided Lien Free Interest n Guaranteed Availability & Costs n Liquid Investment,Guaranteed Buy Back n Depreciable Asset, Tax Benefits as Applicable n Access to Entire Fleet 1/16 = 50 hrs 1/8 = 100 hrs 1/4 = 200 hrs 1/2 = 400 hrs 800 Occupied Hours

7. What are the Costs? n Acquisition Cost. n The one time purchase of the asset.

8. Acquisition Costs Whole plane = 800 occupied hrs. 1/8 Share = 100 occupied hrs. Whole plane = $8,000,000 1/8 Share = $1,000,000

9. What are the Costs? n Acquisition Cost The one time purchase of the asset. Monthly Management Fee Covers indirect operating costs (pilot salaries, training, hangaring, administration, etc.). Occupied Hourly Fee Covers direct operating costs (fuel, maintenance, catering, landing fees, etc.).

10. NetJets Provides Guaranteed Availability n Our fleet of aircraft is blanketed across the U.S., Europe and the Middle East. n NetJets owned “core fleet.” n Subcontract when necessary.

11. Charter vs. NetJets n Yearly flight time is less than 40-50 hours. n Trips do not exceed more than 1-2 days. n Need only one aircraft per day. n Depart from and return to the same location.

12. Full Ownership vs. NetJets n Yearly flight exceeds 400-500 hours, and... n Fly most often from one location, and... n Require only one aircraft per day.

13. NetJets Advantages n Aircraft Choices n International Capabilities n Guaranteed Availability n Experience n Asset Value n Contract Renewal n Financial Strength n Most Favored Nations n Safety n Security

14. NetJets Fleet * n NetJets currently manages over 449 aircraft. 3 Citation SIIs 5 Citation Bravos 78 Citation V Ultras 4 Citation Encore 32 Citation Excels 17 Citation VII’s 45 Hawker 800XPs 27 Hawker 1000s 55 Citation Xs 86 other 40 Falcon 2000s 45 Gulfstream IV-SPs 8 Gulfstream Vs 7 Boeing Business Jets 562 more aircraft on order Light cabinMidsize cabinLarge cabin * As of May, 2002.

15. Aircraft Choices n By year end 2002, we’ll manage over 540 aircraft. n 12 different aircraft types in the U.S. n 4 additional aircraft types have been ordered. n 5 different aircraft types in Europe. n More aircraft to fit your travel profile. n Greater interchange offerings.

16. NetJets Order Activity n In the last 6 years, 1011 new aircraft have been ordered for the NetJets program. n Total over $19 billion. n Ordered: 23 Citation Bravos 78 Citation V Ultras 38 Citation Encores 113 Citation Excels 17 Citation VIIs 92 Hawker 800XPs 81 Citation Xs 100 Citation Sovereigns 100 Hawker Horizons 100 Gulfstream 200s 75 Falcon 2000s 50 Falcon 2000EXs 2 Falcon 900s 68 Gulfstream IV-SPs 45 Gulfstream Vs 29 Boeing Business Jets Light cabinMidsize cabinLarge cabin

17. Aircraft Choices Because we are not a manufacturer, we choose the world’s finest aircraft. Boeing, Cessna, Dassault Falcon, Gulfstream, Raytheon. Historically and factually, our aircraft offerings have the best residual values.

18. International Capabilities n NetJets ® Europe n NetJets ® Middle East n NetJets ™ Asia and NetJets ™ South America are being developed. All interchangeable

19. NetJets Flight Support Center Columbus, Ohio Lisbon, Portugal Jeddah, Saudi Arabia

20. Guaranteed Availability n 24-hours a day, 7 days a week, 365 days a year. n 3 Continents …Worldwide.

21. NetJets Experience n NetJets has provided business jet solutions for 38 years. n Invented private jet charter - we have flown the most hours. n Invented fractional ownership - we have the most years in the industry. n In 2002, NetJets will fly over 250,000 flights, 125,000,000 miles to over 140 countries.

22. Most Favored Nations n With NetJets every owner is treated equally. Warren Buffett pays... what Tiger Woods pays... what Kevin Russell pays... what GE pays.

23. Financial Strength Berkshire Hathaway

24. NetJets Safety n All aircraft cockpits are identically outfitted. n All aircraft are factory maintained. n Our pilots fly one type of aircraft. n All pilots are captains. n 24-hour, on-staff meteorologists, dispatchers, auditors, schedulers, etc.

25. Some of our owners include: n Andre Agassi n America Online n Bertlesmann AG n Boeing n Warren Buffett n Chopard n Dow Chemical n France Telecom n General Electric n Georgio Armani Spa n Gillette n Nokia n Prudential Insurance n Pete Sampras n Arnold Schwarzenegger n Skanska n Annika Sorenstam n Sun Microsystems n United Technologies n Tiger Woods

26. Security Convenience Freedom Safety Time Productivity PrivacyChoices Efficiency Lifestyle Comfort Reliability Flexibility Success