Berkshire Hathaway Inc. News Release

OMAHA, Neb.--(BUSINESS WIRE)--(BRK.A; BRK.B) –

Today, Warren E. Buffett will convert 8,000 Berkshire Hathaway Class A shares into 12,000,000 Berkshire Hathaway Class B shares in order to donate the 12,000,000 Class “B” shares to four foundations: 9,000,000 shares to the Susan Thompson Buffett Foundation and 1,000,000 shares to each of the Sherwood Foundation, Howard G. Buffett Foundation and Novo Foundation.

Mr. Buffett’s ownership of Berkshire now consists of 188,290 Class A shares and 1,162 Class B shares.

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Mr. Buffett’s comments follow:

“My goal is to dispose of all of my Berkshire shares within about eight years. As I explained last year, my children are unfortunately growing older. I have every hope that the three of them are able to carry out the disposal of my shares by December 31, 2034.

Of course, mortality is unpredictable, but my remaining shares will be donated to the four foundations one way or the other by December 31, 2034. The goal is to have the grants grow annually to each of the three foundations managed by each of my children and the annual grant to the Susan Thompson Buffett Foundation grow at a somewhat greater rate.”

About Berkshire

Berkshire Hathaway and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, manufacturing, services and retailing. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B.