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BERKSHIRE HATHAWAY INC.

REPORTBERKSHIRE HATHAWAY annual REPORTTABLE OF CONTENTSB erkshire s Performance vs. the S&P s Letter*..3-17 Owner s The Bet (or how your money finds its way to Wall Street)..24-26 Form 10-K Business of Stock Financial s s Report on Internal Auditor s Financial to Consolidated Financial Operating Transfer Estate Brokerage and Officers of the Back Cover*Copyright 2018 By Warren E. BuffettAll Rights ReservedBerkshire s Performance vs. the S&P 500 annual Percentage ChangeYearin Per-ShareBook Value ofBerkshirein Per-ShareMarket Value ofBerkshirein S&P 500with ( )( ) ( ) ( ) ( )( ) ( )( ) ( ) ( ) ( ) ( )( ) ( ) ( ) ( ) ( ) ( )( ) ( )( )( ) ( ) ( ) annual Gain Gain ,088,029%2,404,748%15,508%Note:Data are for calendar years with these exceptions: 1965 and 1966, year ended

Berkshire’s Performance vs. the S&P 500 Annual Percentage Change Year in Per-Share Book Value of Berkshire in Per-Share Market Value of Berkshire in S&P 500

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