1. Small Railroads: Big Agenda Inland Rivers Ports & Terminals, Inc. Annual Meeting Shreveport, LA April 30, 2015

2. Short Line Industry  558 “Short Lines”:  Class III railroads: Revenues < $31.9 M  Class II railroads: Revenues $31.9 M - $398.7 M  Switching and Terminal Railroads

3. Growth of Short Line Route Miles  More Than 465% Route Miles Growth Over the Course of 30 Years...

4. Class I Railroads vs. Number of Short Lines (Short Lines can interchange with more than one Class I) Class INumber of Short Lines BNSF190 CN19 CP9 CSX254 KCS14 NS256 UP223

5. Short Lines vs. Class I Interchanges Over 300 Short Line Railroads Have More Than One Class I Connection

6. Historically  Coal  Farm Products  Minerals & Ores  Chemicals  Metal Products  Pulp, Paper, Lumber  Food Products Short Line Commodities Feb 2014 – Feb 2015  Chemicals 8.0%  Intermodal 13.9%  Grain 12.6%  Metals & Products 0.1%  Aggregates 20.2%  Paper Products 1.1%  Petroleum Products 2.0%

7. Rail Industry Carloads Class I's – Short Line Traffic Only – Available Data RR H1 2012 H1 2013 Variance BNSF609,756684,472+12.3% CN109,104119,274+9.3% CSX392,548403,989+2.9% NS516,659528,963+2.4% UP 774,485 825,076+6.5%

8. Class II / III Annual Financial Slice  Revenues: $3.3+ Billion  Capital Expenditures: $920+ Million  Maintenance Expenditures:$800+ Million  Federal Tax Credits 2004 – 2013: $1.5B in infrastructure and equipment  Federal, State and Local Taxes of $410+ Million

9. Short Line Operating Revenue Comparison, 2012 - 2013 Two Consecutive Periods of Growth Two Consecutive Periods of Decline Decline Followed by Growth Growth Followed by Decline

10. Source of Funds

11. The American Short Line and Regional Railroad Association Membership: Railroad: Class II & Class III railroads Associate Business Sustaining Tourist & Excursion Railroad Plant & Switch Contractors

12. RR Member History by Decade 1983 - 2013

13. ASLRRA’s Mission  Represents Interests of Small Railroads Before:  Congress  Federal Agencies  Class I Railroads  State & Federal Courts (Amicus)

14. ASLRRA’s Mission  Education & Compliance  Railroad “U”  Regulation Compliance Seminars  Webinars  Compliance Templates  Alerts and publications

15. ASLRRA’s Mission  Meetings  Annual Convention  Four Regional Meetings  General Counsel Symposium  Finance & Administration Conf.  Railroad Day On The Hill  Numerous FRA Compliance Seminars

16. Member Driven  Committees  Executive  Finance & Administration  Legislative Policy  General Counsel  Safety & Training  Police & Security  Technology  Human Resources  Mechanical  Small Railroad  Volunteers