MICHAEL BAKER CORPORATION

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MICHAEL BAKER CORPORATION
2001 IPAA Oil Gas Investment Symposium

• April 17, 2001

Presented by
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Safe Harbor
This presentation will contain information
related to events which may occur in the future.
These forward-looking statements may include
future business trends, revenue and earnings
forecasts, and acquisition and corporate finance
activity. These statements are subject to
market, operating and other risks and
uncertainties and, as a result, actual results
may vary. Such forward-looking statements are
made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of
1995.
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Profile/Summary

• AMEX - listed BKR
• Founded in 1940 Publicly Traded Since 1969
• A Leader in Professional Services
• Oil Gas Production OM
• Transportation and Civil Infrastructure
  Engineering
• Large Global Markets
• Under-followed Micro-Cap, Valued at 3x EBITDA

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Engineering
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Energy
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Business Model Evolution
Decisional
Transactional
OPCO
e-OPS
Knowledge Management
T2B
Manpower Supply
Price-Sensitive
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Growth Drivers

• Outsourcing and Industry Growth Commitments of
  Major and Independent Oil and Gas Producers
• Political and Economic Requirements to Develop
  Nationalized Workforce
• Favorable Environment of Cost Per Barrel of Oil
• Deregulation of Electric Power Industry

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Energy
Houston
Supply Chain Management
Lafayette
Mechanical Maintenance
London
OM Services
Lagos
Operations Engineering
Caracas
LOCATION
SERVICES
Manpower
Bangkok
Challenge Us
Training
Anchorage
Recruiting
Abu Dhabi
Abu Dhabi
CUSTOMERS
Major and Large Independent Oil Gas U.S.
Electric Utilities and I.P.P.
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Our Domestic Market
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OPCOSM
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OPCOSM
Total GOM OPCO-Type Market 3.0b
Baker OPCO Revenues in Millions
(Estimated)
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Our Domestic Market
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OPCOSM Value Drivers

• Penetrate Cost Floor
• More Efficient Use of Critical Resources
• Maintain HSE Excellence
• Cost Savings of 10-20
• Performance-based Contracts

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OPCOSM Value Drivers
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e-OPS

• Fully-Integrated, Operations and Maintenance
  System for Upstream Energy Industry
• Alliance
• Baker - Content
• SAIC - Technology, Telecom and Knowledge
  Management
• Global Market - 160 Billion
• Benefits
• Shortened Cycle Time
• Improved Operating Performance
• Lower Cost of Operation
• Greater Asset Return

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Total Revenues
Energy
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Operating Performance(in Thousands of )
5,471
Adjusted for 1 Million Non-Recurring Charge
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EPS Growth
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Conclusion

• Under-followed Micro-Cap, Valued at 3x EBITDA
• A Leader in Professional Services
• Oil Gas Production OM
• Transportation and Civil Infrastructure
  Engineering
• Expanding Outsourcing Trend in Core Business
• OPCOSM Model Driving Energy Segment Growth and
  Margin Improvement

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MICHAEL BAKER CORPORATION
2001 IPAA Oil Gas Investment Symposium

• April 17, 2001

Presented by
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Cash Flow(in millions of )
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Balance Sheet(in millions of )