Net Jets Overview 1 History of Net

Net. Jets Overview 1

History of Net. Jets • 1964 - Executive Jet established as a private charter company. • 1986 - Created fractional aircraft ownership program. • 1998 - Berkshire Hathaway purchased Executive Jet. • 2002 - Executive Jet became Net. Jets Aviation. 2

Aviation Pyramid 91 OWN YOUR OWN JET FRACTIONAL Net. Jets – Worldwide Leader 91 K / 135 ‘OWN A PIECE, ACCESS A FLEET’ Market Leader Access to Net. Jets 25 hours at a time 135 121 3 CHARTER & BLOCK-CHARTER SCHEMES COMMERCIAL EJM US Market Leader

Fractional Market Growth Total Shares Owned * • Not including leases 4

Net. Jets Today – The Leader • Net. Jets’ annually flies over 390, 000 flights and 230, 000 miles to more than 170 countries. • Net. Jets flies over 1, 200 international trips per month. • Net. Jets is ranked as the 2 nd largest Commercial Operator in the world. 5

Net. Jets Today – The Leader • Net. Jets’ fleet of 870 aircraft under management is equal in size to that of the world’s second largest airline. As of May 1, 2008 • 7, 946 Employees Worldwide • 4, 308 Pilots • 512 Flight Attendants • 895 Maintenance Technicians • 157 Dispatchers As of July 1, 2009 6

Net. Jets Corporate Structure Net. Jets Inc. Net. Jets Aviation 7 Net. Jets International Net. Jets Europe Executive Jet Management Net. Jets Marquis Middle East Large Aircraft Jet

Owner Profile • 50 percent of Net. Jets Owners are private companies using Net. Jets to help grow their businesses. • 25 percent of Net. Jets Owners are public companies using Net. Jets to supplement their existing fleets, or as their primary business aviation tool. • 25 percent of Net. Jets Owners are private individuals who use Net. Jets to enhance their quality-of-life. Some of our Net. Jets Owners include: Aetna, Dow Chemical, General Electric, Gillette, Prudential Insurance, Annika Sorenstam, Andre Agassi, Pete Sampras and Tiger Woods. Net. Jets respects our Owners privacy so we do not share their names unless we have been given permission to do so. 8

870 Aircraft Under Management U. S. , European, and Middle East Fleet Light cabin Midsize cabin • 18 Citation Bravos • 45 Citation V Ultra • 59 Hawker 400 XP • 30 Citation Encore • 149 Citation Excel/XLS • 12 Hawker 750 XP • 84 Hawker 800 XP • 10 Hawker 900 XP • 45 Citation Sovereign • 70 Citation X • 38 Gulfstream 200 Large cabin • 56 Falcon 2000/2000 EX/LX • 37 Gulfstream 400/IV-SP • 18 Gulfstream 450 • 2 Falcon 7 X • 8 Gulfstream V • 16 Gulfstream 550 • 2 Boeing Business Jet 171 additional aircraft managed by EJM 3 managed by Net. Jets Middle East 3 Managed by Net. Jets Europe * Aircraft no longer offered for sale - transitioning out of fleet 1. Current model designation – G IV SP, G 400 and G V included in fleet 9 Data as of 07/01/09

In 2008, Net. Jets. . . • Paid $59 million into the FAA System through FET, Segment Fees, Fuel Taxes and Other Assessments • Purchased over 7, 000 hours of charter time. • Consumed 119 million gallons of jet fuel. • Spent over $37 million on catering (Owner/Crew). • Arranged 130, 000 cars/limos. • Landed at over 1, 500 airports in the U. S. • Spent $71 million on pilot training (FSI). • Required over 1. 8 million maintenance man-hours. • Purchased $70 million airline tickets for flight crew movement. • Purchased $60 million hotel rooms for flight crew RON’s. 10

What is Fractional Aviation Page 11

What Is Fractional Aircraft Ownership? • An undivided interest in a specific, serial numbered aircraft based on the number of hours the owner flies in a year 12

Net. Jets Fractional Ownership 800 Total Occupied Hours 1/16 = 50 hrs Access to Entire Fleet 1/8 = 100 hrs • Undivided Lien Free Interest 1/4 = 200 hrs • Guaranteed Availability & Costs 1/2 = 400 hrs • Liquid Investment, Guaranteed Buy Back • Depreciable Asset, Tax Benefits as Applicable • 13 • Owner accepts operational control in Part 91 k operations

Net. Jets Fractional Ownership • Random access on demand (4 – 10 hours) • Each owner’s share is put into a pool with all other owners’ shares • The pool of aircraft “free float” according to scheduling demands • Aircraft are dispatched to each requested departure point and remain at the arrival point until assigned another trip • Owners are charged only for occupied flight time, not for positioning • Crews are airlined where needed, and airlined home at the end of their tour • All heavy scheduled maintenance is completed at manufacturer authorized service centers 14

Cost Components • Aircraft Acquisition (One-time Cost) • Monthly Management Fee (MMF) – Covers fixed costs (pilot salaries, insurance, training, hangaring, administration, etc. ) • Occupied Hourly Fee (OHF) – Covers variable costs (fuel, maintenance, catering, landing fees, etc. ) • Federal Excise Tax on OHF (7. 5%) • Fuel Variable 15

Net. Jets Provides Guaranteed Availability The Net. Jets fleet of more then 871 aircraft is blanketed across the U. S. , Europe and the Middle East Each worldwide Net. Jets Owner is guaranteed interchange within each of the other fleets Net. Jets guarantees a response time of between 4 and 10 hours in the US and 10 and 48 hours for European travel Net. Jets owns “core fleet” to be able to meet Owner demand Net. Jets will subcontract when necessary with vendors that meet Net. Jets strict operating standards 16

Marquis Jet is Net. Jets 25 Hours at a time • 25 Hour pre-paid lease • Marquis Private Jet Card programs in U. S. and Europe 17

Card Growth Since Inception 18

Safety Is The Mission • Management Commitment • Operational Command Control • Aircrew Qualifications • Aircrew Training and Management • Aircraft Maintenance • Security – Aircraft and Passengers “Spend whatever it takes to be the safest and most secure. Then spend whatever it takes to stay that way. ” - Warren Buffett 19

Safety Enhancement – Aircrew Qualifications • • New hires – 2, 500 hrs. minimum before consideration Average new hire – over 6, 000 Total average hours – over 8, 000 Flight. Safety International – 2 x’s per year - 20 days of training • New hires remain on probation for one year • Fly an average of 75 hours per month 20

“Leave nothing to chance. ” - Richard Santulli Q&A 21