• Year-end reserves per share are up more than 18 times
  since IPO in 1993
• Annual gas production volumes are up more than 37 times
  since IPO
• Targeting 23% production growth in 2009

• Fourth largest owner of domestic gas reserves among the independents
• Currently producing more than 2.42 Bcf/d of gas per day
• Top natural gas producer in the U.S.

• One of the lowest 'finding & development' costs in the sector
• Five-year all-in reserve replacement of 440%
• Strong operating margins yielding strong full-cycle economics

• Have identified 14.2 Tcfe of low-risk resource potential to drill, as of 12/31/08
• 5+ years of low-risk growth inventory 'in hand'

• Acquire the best 'legacy' properties
• Apply rigorous engineering and geologic work, along with pioneering innovation
• Prove-up and develop more reserves and production
• Seek project economic returns better than 30%

• FirstCall consensus projection of about $5.9 billion in cash flow for 2009
• Significant oil & gas hedges through 2010 with nearly 55% of production hedged at $9.62 on an equivalent basis

• Appreciation of 5135% from 1993 IPO through December 2009
• The IPO stock price of $13 has increased to more than $654 through December 2009
  (when not adjusted for stock splits)

• Company founder actively manages company
• Senior executives together 25+ years
• Management owns more than 5% of XTO stock