genesee & wyoming...genesee & wyoming inc. 2 forward-looking statements this presentation...

1 Genesee & Wyoming Inc.

Genesee & Wyoming Jack Hellmann Chief Executive Officer

August 28, 2015


Forward-Looking Statements This presentation contains “forward-looking statements” regarding future events and the future

performance of Genesee & Wyoming Inc. that involve risks and uncertainties that could cause

actual results to differ materially from those expressed or forecasted, including, but not limited to,

risks related to the operation of our railroads, severe weather conditions and other natural

occurrences, economic and market conditions, customer demand, railroad network congestion,

derailments, currency fluctuations, changes in commodity prices, increased competition in the

relevant market, and others, many of which are beyond our control. The Company refers you to

the documents that it files from time to time with the Securities and Exchange Commission, such

as the Company’s Forms 10-Q and 10-K, which contain additional important factors that could

cause its actual results to differ from its current expectations and from the forward-looking

statements discussed during this presentation. Forward-looking statements speak only as of the

date of this presentation or the date they were made. Genesee & Wyoming Inc. does not

undertake, and expressly disclaims, any duty to update any forward-looking statement contained

in this presentation whether as a result of new information, future events or otherwise, except as

required by law.


Agenda

• G&W Overview • Business Update

– Outlook Reset – Commodity Analysis – Iron Ore Update

• Current Outlook and Trends – July Carloads – Second Half 2015 Priorities – Free Cash Flow Capacity

• Appendices – Freightliner and U.K./Europe Segment

Overview – Second Half 2015 Guidance Details

(from August 3, 2015 Earnings Call)


Overview

• NYSE: Listed as GWR with ~$4 billion market capitalization

• Railroads: 120 worldwide with ~16,000 track miles

• People: 7,500 worldwide

• Equipment: >1,300 locomotives

• Annual Carloads: ~3 million

• Track Record of Acquisitions: Added >100 railroads since 2000


Genesee & Wyoming Inc. 2015

Australia North America

U.K./Europe


G&W Safety Performance – 2015

3.06

2.34

2.09

1.02 0.99 0.91 0.82 0.75 0.74

FRAGroup 2

FRAGroup 3

KCS NS Class I Avg BNSF UP CSX G&W*

Injury Frequency Rate per 200,000 man-hours G&W through July; others through May

*Excludes Freightliner


G&W 2015 Pro Forma Operating Income by Geography

Assumes 12-month Freightliner Contribution

2015 Business Update


2015 Outlook Reset Adjusted Income from Operations Bridge

$470

$404

($3)($7)

($5)

($83)

$32

$365

$415

$465

FebruaryOutlook

FX N.A. Winter Net Fuel N.A. Coal, Metal& Energy

9 monthsFreightlinerU.K./Europe

August Outlook*

($ millions)

* Adjusted Income from Operations is a non-GAAP financial measure. Reconciliations of non-GAAP financial measures accompany this presentation. August Outlook includes 1H 2015 actual and mid-point of 2H 2015 Guidance


Same Railroad North American Carloads YTD July 2015 vs. YTD July 2014

* Includes carloads and intermodal units **Includes 2013 classification adjustments

Commodity Change % CommentAgricultural Products (7,400) (6%) Midwest Corn and Wheat

Autos & Auto Parts (1,700) (9%) Weaker West Coast Export Traffic and plant production issues

Chemicals & Plastics 2,200 2%Coal & Coke (42,400) (21%) North American Steam CoalFood & Kindred Products 400 1% TimingIntermodal (units) (2,100) NM Customer facility closure

Lumber & Forest Products (3,900) (5%) West Coast Housing Market and Export Logs, Weather & Plant Maintenance

Metallic Ores 1,900 15% Copper concentrateMetals (26,000) (25%) North America Steel Minerals & Stone 100 0% Higher Construction Aggregates, Lower Sand & ProppantsPetroleum Products (3,200) (5%) Lower CBR, Higher LPGs/NGLs Pulp & Paper 2,100 2% Liner Board, PackagingWaste (1,100) (5%)Other (8,200) (17%) Class I Overhead TrafficTotal Carloads (89,300) (9%)


North American Coal & Coke

Same Railroad

July YTD Carloads 2015 2014 Change % Description

Illinois Basin 33,000 40,000 (7,000) (18%)Origin, destination and overhead traffic in Indiana

Powder River Basin

93,000 113,000 (20,000) (18%)Destination coal for Illinois, Missouri and Oklahoma utilities

Northern Appalachia

30,000 40,000 (10,000) (25%)On-line coal moves in Ohio and Pennsylvania

All Other 9,000 14,000 (5,000) (36%) Declining Utah coal shipments

Total165,000 207,000 (42,000) (20%)

• Weakness due to competition from low-priced natural gas • Flat outlook with future volumes weather and natural gas price dependent for

remainder of 2015

• G&W carloads are approximately 97% steam coal for electricity generation • 2015 Revenue of approximately $57 million (~ 8% of North America Total Revenue)


North American Metals Same Railroad


Pipe 5,000 7,000 (2,000) (29%)Oil and gas drilling and transmission related

Scrap Steel 29,000 38,000 (9,000) (24%)Origin and destination customers. Input to steel making

Pig Iron 5,000 6,000 (1,000) (17%) Input to steel making

Slab 14,000 19,000 (5,000) (26%)Origin customers. End markets include auto and appliances

Coil 13,000 21,000 (8,000) (38%)Origin customers. End markets include auto, energy and appliances

All Other 14,000 15,000 (1,000) (7%)

Total 80,000 106,000 (26,000) (25%)

• Weakness across all metals categories primarily due to competition from lower priced imported steel and reduced oil & gas drilling

• Cyclical commodity with ongoing weakness due to strong US$, weaker demand (energy-related) and global oversupply

• 2015 Revenue of $62 million (~8% of North America Total Revenue)


North American Shale Energy

Same Railroad


Pipe 5,000 7,000 (2,000) (29%)Oil and gas drilling and transmission related

LPGs/NGLs 32,000 24,000 8,000 33%

Origin traffic from Utica and Marcellus shale fractionation plants. Destination LPG traffic for consumer and industrial use

Crude Oil 7,000 19,000 (12,000) (63%)Bakken and Canadian heavy crude destination traffic

Sand & Proppants 19,000 22,000 (3,000) (14%)Multiple regions, both origin and destination traffic

Total 63,000 72,000 (9,000) (13%)

• Significant decrease in crude traffic, frac sand and pipe largely offset by higher LPG/NGL volumes from new NGL fractionation plants in Utica and Marcellus

• 2015 Revenue of $41 million (~6% of North America Total Revenue)


Australia Commodity Trends

Same Railroad


Agricultural Products 33,800 37,600 (3,800) (10%) Export grain

Intermodal 35,600 35,900 (300) (1%)Domestic intermodal to Northern Territory

Metallic Ores 20,100 32,900 (12,800) (39%)Iron Ore, Manganese and Copper Concentrate.

Minerals & Stone 33,900 29,500 4,400 15%Gypsum for domestic construction market

All Other 200 200 - 0%

Total 123,600 136,100 (12,500) (9%)

• Lower iron ore traffic primarily due to customer mine closures


Update on G&W Iron Ore Business Global iron ore price declined from US$120s in 2014 to current levels of US$50s per ton

Australian Iron Ore

• Impact of 3 mine closures reflected in 2015 financial outlook (Australia) • Remaining iron ore exposure ~US$51 million

Canadian Iron Ore • Impact of 1 mine closure reflected in 2015 financial outlook (North

America) • Remaining iron ore exposure ~US$9 million

Comments • High proportion of fixed payments on remaining revenues under

contract in Australia and Canada • No expectation for mines reopening at current iron ore price of

US$53/ton, even with significant depreciation of A$ and C$

2015 Current Outlook


• North America - Traffic modestly improving - Seasonal improvements in agricultural products, construction

aggregates and cement - Expense reduction plans implemented

• U.K./Europe - Intermodal sequentially improves in peak season - Coal expected to seasonally strengthen in Q4 2015 and Q1 2016

• Australia - Expect seasonally weaker agricultural products traffic heading into

new harvest in Q4 2015 - Ongoing commodity weakness - Weaker Australian dollar

Outlook Overview for Second Half 2015


Same Railroad North American Carloads July 2015 vs. July 2014


Commodity Change % CommentAgricultural Products (2,200) (11%) Midwest Corn and WheatAutos & Auto Parts (700) (24%) Weaker West Coast Export TrafficChemicals & Plastics (700) (5%)Coal & Coke (9,800) (31%) North American Steam CoalFood & Kindred Products (300) (6%)Intermodal (units) (400) NMLumber & Forest Products (600) (5%)Metallic Ores 300 18%Metals (4,600) (28%) North America Steel Minerals & Stone (1,100) (5%) Lower Frac Sand; Higher Rock Salt Petroleum Products (1,200) (13%) Lower CBR; Higher LPGs/NGLs Pulp & Paper 400 3%Waste 600 16%Other (800) (12%) Class I Overhead TrafficTotal Carloads (21,100) (13%)


Key Priorities for Second Half 2015

1. Safety

2. Cost Reductions in North America and Australia

3. Successful Freightliner Integration in U.K./Europe/Australia

4. Short Line Tax Credit Extension

5. Acquisitions and Investments

– Evaluating opportunities in North America and abroad

– Near term investments will take into consideration higher than expected leverage (flat at 3.5x Debt/Adj. EBITDA* at year end 2015)

* Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) is a non-GAAP financial measure. Reconciliations of non-GAAP financial measures accompany this presentation.


Annual Free Cash Flow Capacity(1)

($ in millions) Free Cash Flow

Free Cash Flow* – February 2015 Guidance $329

Changes Less: Reduced North American operating cash flow Plus: Freightliner – pro forma annual Plus: Annual Grant Match & Project Capital (Discretionary)

~($80) ~$20

$0 - $50

Free Cash Flow – Current Run Rate $269 - $319

* Free cash flow is a non-GAAP financial measure. Non-GAAP financial measure reconciliations accompany this presentation.

(1) Before New Business Investments


Appendices

Freightliner Overview


Freightliner U.K. Intermodal Operations

• Largest rail participant in the UK intermodal market

• Most traffic runs from ports of Felixstowe, Southampton, London Gateway and Tilbury to the Midlands/Northeast/Northwest

• Strong intermodal franchise:

– Excellent service quality (98% on time)

– Terminals at ports and key inland cities

– High-quality product due to wide network, dock-to-door service and scale of train operations (e.g., 100 trains and 3,000 containers per day)

Key Container Origination and Destination Points


• Key Commodities Hauled – Aggregates and Cement – Coal – Equipment and materials

to maintain passenger and freight rail network for Network Rail (U.K. track owner)

– Waste & Other

Freightliner U.K. Bulk Operations


Freightliner Continental Europe

Poland – Based in Warsaw, Freightliner has less than 3% of the Polish rail

market (2nd largest rail market in Europe)

– The business is diversified with more than 70 customers, primarily aggregates and coal

– Operations also extend into Eastern and Northern Germany


Freightliner Continental Europe

ERS (Intermodal)

– Originally set up as in-house rail operator by Maersk in 1994, connecting seaports of Rotterdam, Hamburg and Bremerhaven with cities in Germany, Italy, Poland and beyond

– Based in Rotterdam and acquired in 2013, with restructuring underway


Cotton Growing Regions

Hunter Valley Coal Region NSW

GWA-Owned Track GWA-Operated Track

Other Railroads (largely open access)

GWA Headquarters Freightliner Operations

Freightliner Australia

• Operations based near Sydney, NSW

• Key Commodities Hauled • Coal • Cotton • Agricultural Products

• Underpinned by long-term contracts with customers

• Owned 15% by local management

Introduction to U.K./Europe Segment


Updated Revenue Presentation

Segment North America U.K./Europe Australia

Freight revenues Traditional carload business (includes fuel surcharges)

Bulk commodities and Intermodal (includes fuel surcharges)

Bulk commodities and Intermodal (includes fuel surcharges)

Freight-Related revenues

Switching, car hire, ancillary freight charges, trackage rights, contracted services

Switching, traction service/hook and pull (locomotive + drivers), infrastructure services

Switching, contracted services, trackage rights, crewing

All other revenues Easements, real estate, 3rd party car and locomotive repair, passenger related revenues

Real estate, 3rd party car and locomotive repair

Real estate, 3rd party car and locomotive repair

• Non-freight revenues is now divided into two categories: Freight-Related and All other


($ in millions)Q2 2015

Actual% of

Revenue Notes

Operating revenues:Freight revenues 98.0$ 59.6% Intermodal 70%; Minerals & Stone 18%; Coal 9%

Freight-related revenues 61.0 37.1% Switching; Traction service; Infrastructure

All other revenues 5.4 3.3%

Total operating revenues 164.4 100.0%

Operating expenses:Labor and benefits 46.2$ 28.1%Equipment rents 23.0 14.0% Leased locomotives and freight carsPurchased services

35.2 21.4%Contract drivers/traction in Europe; Port/terminal handling & trucking in U.K.

Depreciation and amortization 5.7 3.5%Diesel fuel used in train operations 11.9 7.2%Electricity used in train operations 5.0 3.0% New category for U.K. and Continental EuropeCasualties and insurance 1.5 0.9%Materials 8.5 5.2%Trackage rights 12.5 7.6% Track access feesNet gain on the sale of assets - 0.0%Other expenses 7.2 4.4%

Total operating expenses 156.7$ 95.3%Income from Operations 7.7$ 4.7%

Introduction to the U.K./Europe Segment

Second Half 2015 Guidance Details


North American Operations Outlook 2H 2015 Commodity Trends – versus Q2 2015A


Commodity Q2 2015A Q3 2015E Q4 2015E Comment

Agricultural Products 53,700 + 55,000 - 60,000 Grain market conditions, timing

Autos & Auto Parts 7,500 + +Chemicals & Plastics 45,600 + -Coal & Coke 63,500 60,000 - 65,000 60,000 - 65,000 FlatFood & Kindred Products 14,700 + +Lumber & Forest Products 35,000 + +Metallic Ores 6,100 - -Metals 35,100 + +Minerals & Stone 55,900 55,000 - 60,000 45,000 - 50,000 Seasonality of aggregatesPetroleum Products 23,900 + +Pulp & Paper 45,300 + +Waste 10,200 + -Other 17,500 15,000 15,000 Class I overheadTotal Carloads 414,000 410,000 - 425,000 400,000 - 415,000

Same Railroad vs. Prior Year (10%) - (13%) (11%) - (14%)

Commodities +/-: expected changes from Q2 up/down 1,000 – 2,000 carloads


Australian Operations Outlook 2H 2015 Commodity Trends - versus Q2 2015A

Commodity Q2 2015A Q3 2015E Q4 2015E CommentAgricultural Products 14,800 10,000 - 12,000 10,000 - 12,000 Normal SeasonalityIntermodal 15,700 + +Metallic Ores* 7,100 5,000 5,000 Iron Ore Service Ceased in Q2Minerals & Stone 14,400 + +Total Carloads 52,000 45,000 - 47,000 45,000 - 47,000

Same Railroad vs Prior Year (18%) - (22%) (14%) - (17%)

* Includes carloads and intermodal units



U.K./European Operations Outlook 2H 2015 Commodity Trends - versus Q2 2015A

Commodity Q2 2015A Q3 2015E Q4 2015E Comment

Coal & Coke 23,400 20,000 - 25,000 40,000 - 45,000 Seasonality; U.K. and Poland

Intermodal 214,200 245,000 - 255,000 230,000 - 240,000 Seasonality; U.K. and Europe

Minerals & Stone 44,100 + - Seasonality; Poland and U.K.

Other 3,200 + +Total Carloads 284,900 315,000 - 330,000 315,000 - 335,000



Outlook – Third Quarter 2015 (From August 3, 2015 Earnings Call)

(in millions, except per share amounts) North America U.K./Europe Australia

Consolidated Q3 2015Outlook

Revenues $310 - $315 $170 - $175 $60 - $65 $540 - $555

Adjusted Operating Ratio(1) ~73% 92% - 93% ~78% ~80%

Adjusted Income from Operations(1) $82 - $86 $10 - $12 ~$14 $106 - $112

Net Interest Expense $18

Depreciation and Amortization $35 $6 $7 $48

Effective Tax Rate (2) ~36%

Adjusted Diluted EPS (1) $0.95 - $1.05

Diluted Shares 57.5

(1) Adjusted Operating Ratio, Adjusted Income from Operations and Adjusted Diluted EPS are non-GAAP financial measures. Reconciliations of non-GAAP financial measures accompany this presentation.

(2) Excludes the short line tax credit. FX: A$1.00 = US$0.73, C$1.00 = US$0.77, €1.00 = US$1.09, £1.00 = US$1.55, PLN1.00 = US$0.26


Outlook – Fourth Quarter 2015 (From August 3, 2015 Earnings Call)

(in millions, except per share amounts) North America U.K./Europe Australia

Consolidated Q4 2015Outlook

Revenues $310 - $315 $170 - $175 $60 - $65 $540 - $555

Adjusted Operating Ratio(1) ~73% 92% - 93% ~78% ~80%

Adjusted Income from Operations(1) $82 - $86 $10 - $12 ~$14 $106 - $112

Net Interest Expense $18

Depreciation and Amortization $37 $6 $7 $50

Effective Tax Rate (2) ~37%

Adjusted Diluted EPS (1) $0.95 - $1.05

Diluted Shares 57.5

(1) Adjusted Operating Ratio, Adjusted Income from Operations and Adjusted Diluted EPS are non-GAAP financial measures. Reconciliations of non-GAAP financial measures accompany this presentation.

(2) Excludes the short line tax credit.

FX: A$1.00 = US$0.73, C$1.00 = US$0.77, €1.00 = US$1.09, £1.00 = US$1.55, PLN1.00 = US$0.26


Balance Sheet • Net Debt of $2.3 billion at June 30, 2015 • 3.5x Debt/Adjusted EBITDA* at June 30, 2015

($ in millions)June 30,

2015Cash & Equivalents 30$

Debt:Senior Secured Credit Facility, due March 2020 2,272$ Other Debt 95$ TOTAL DEBT 2,367$

Total Equity 2,432$ TOTAL CAPITALIZATION 4,799$

Total Debt/Total Capitalization 49%

Net Debt/Total Capitalization 49%

* Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) is a non-GAAP financial measure. Reconciliations of non-GAAP financial measures accompany this presentation.


Reconciliation of Non-GAAP Financial Measures


Non-GAAP Financial Measures This presentation contains references to Adjusted Income from Operations, Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA), Adjusted EBITDA, Debt to Adjusted EBITDA, Free Cash Flow, Adjusted Operating Ratio and Adjusted Diluted Earnings Per Common Share (EPS) which are “non-GAAP financial measures” as this term is defined in Item 10(e) of Regulation S-K under the Securities Act of 1933 and the Securities Exchange Act of 1934 and Regulation G under the Securities Exchange Act of 1934. In accordance with these rules, G&W has reconciled these non-GAAP financial measures to their most directly comparable U.S. GAAP measures.

Management views these non-GAAP financial measures as important measures of G&W’s operating performance or, in the case of Free Cash Flow and Free Cash Flow Before New Business Investments, an important financial measure of how well G&W is managing its assets and a useful indicator of cash flow that may be available for discretionary use by G&W. Management also views these non-GAAP financial measures as a way to assess comparability between periods. Key limitations of the Free Cash Flow and Free Cash Flow Before New Business Investments measures include the assumptions that G&W will be able to refinance its existing debt when it matures and meet other cash flow obligations from financing activities, such as principal payments on debt.

These non-GAAP financial measures are not intended to represent, and should not be considered more

meaningful than, or as an alternative to, their most directly comparable GAAP measures. These non-GAAP

financial measures may be different from similarly-titled non-GAAP financial measures used by other companies.

The following tables set forth reconciliations of each of these non-GAAP financial measures to their most directly comparable GAAP measure (in millions, except percentages and per share amounts).


Adjusted Income from Operations

Outlook (February 2015)

Outlook (August 2015)

Operating revenues 2,145$ 2,035$ Operating expenses 1,696 1,651 Income from operations (a) 449$ 384$

Operating expenses 1,696$ 1,651$ Business development and related costs (16) (17) Australian severance costs (5) (3) Net gain on sale of assets - 1

Adjusted operating expenses 1,675$ 1,631$

Adjusted income from operations 470$ 404$

(a) Income from operations is calculated as operating revenues less operating expenses.

Twelve Months Ended December 31, 2015


Debt/Adjusted EBITDA

Three Months Ended

September 30, 2014

Three Months Ended

December 31, 2014

Three Months Ended

March 31, 2015

Three Months Ended

June 30, 2015 G&W LTMAcquisition

LTM*Combined

Company LTMNet income 72.7$ 87.4$ 23.9$ 52.8$ 236.8$ Add back:

Provision for income taxes 36.9 14.7 16.9 29.3 97.8 Other income, net 0.7 (0.8) (0.3) (0.3) (0.7) Interest expense 12.7 12.1 13.5 17.8 56.0 Interest income (0.1) (0.1) - (0.1) (0.3) Depreciation and amortization expense 40.3 41.0 41.8 48.0 171.1

EBITDA 163.2$ 154.2$ 95.8$ 147.5$ 560.6$ 73.0$ 633.6$ Add back certain items

Non-cash compensation cost related to equity awards 3.1$ 3.8$ 3.8$ 3.8$ 14.5$ Loss on settlement of Freightliner acquisition-related foreign currency forward purchase contracts - - 18.7 - 18.7 Freightliner acquisition-related costs 0.3 1.0 12.6 0.1 13.9 Net gain on sale of assets (1.2) (1.7) (0.3) (0.5) (3.7)

Adjusted EBITDA 165.3$ 157.3$ 130.6$ 150.9$ 604.1$ 73.0$ 677.1$

Combined company debt 2,367$

Debt/Adjusted EBITDA Ratio 3.50 : 1.0

*Includes Freightliner - 9/1/2014 - 3/24/2015; Pinsly - 7/1/2014 - 12/31/2014; and adjustment for various rail car purchases


Free Cash Flow

Twelve Months Ended

December 31, 2015 - Outlook

Original (February 2015)

Net cash provided by operating activities 569$ Net cash used in investing activities (277) Net cash used for acquisitions - Free cash flow 292$ New business investments 37 Free cash flow before new business investments 329$


Adjusted Income from Operations and Adjusted Operating Ratio – by Segment

North America U.K./Europe Australia TotalOperating revenues $310 - $315 $170 - $175 $60 - $65 $540 - $555Operating expenses 230 - 231 160 - 163 47 - 51 436 - 445Income from operations (a) $80 - $84 $10 - $12 ~14 $104 - $110Operating ratio (b) ~74% 92% - 93% ~78% ~80%

Operating expenses $230 - $231 $160 - $163 $47 - $51 $436 - $445Net gain on sale of assets 1 - - 1 Business development and related (3) - - (3) Australian severance costs - - - -

Adjusted operating expenses $228 - $229 $160 - $163 $47 - $51 $434 - $443

Adjusted income from operations $82 - $86 $10 - $12 ~$14 $106 - $112Adjusted operating ratio ~73% 92% - 93% ~78% ~80%

(a) Income from operations is calculated as operating revenues less operating expenses.(b) Operating ratio is calculated as operating expenses divided by operating revenues.

Three Months Ended September 30, 2015 Outlook (August 3, 2015)


Adjusted Income from Operations and Adjusted Operating Ratio – by Segment (cont.)

North America U.K./Europe Australia TotalOperating revenues $310 - $315 $170 - $175 $60 - $65 $540 - $555Operating expenses 229 - 230 160 - 163 47 - 53 437 - 446Income from operations (a) $81 - $85 $10 - $12 ~$13 $103 - $109Operating ratio (b) ~73% 92% - 93% ~79% ~81%

Operating expenses $229 - $230 $160 - $163 $47 - $53 $437 - $446Net gain on sale of assets - - - - Business development and related (1) - - (1) Australian severance costs - - (2) (2)

Adjusted operating expenses $228 - $229 $160 - $163 $46 - $51 $434 - $443

Adjusted income from operations $82 - $86 $10-$12 ~$14 $106 - $112Adjusted operating ratio ~73% 92% - 93% ~78% ~80%

(a) Income from operations is calculated as operating revenues less operating expenses.(b) Operating ratio is calculated as operating expenses divided by operating revenues.

Three Months Ended December 31, 2015 Outlook (August 3, 2015)


Adjusted Diluted EPS Three Months Ended September 30, 2015 Outlook(August 3, 2015) Diluted EPSAs reported $0.93 - $1.03Add back certain items:

Net gain on sale of assets (0.01) Business development and related costs 0.03

As adjusted $0.95 - $1.05

Three Months Ended December 31, 2015 Outlook (August 3, 2015) Diluted EPSAs reported $0.92 - $1.02Add back certain items:

Australian severance costs 0.02 Business development and related costs 0.01

As adjusted $0.95 - $1.05

genesee & wyoming...genesee & wyoming inc. 2 forward-looking statements this presentation...

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