Filed by LinnCo, LLC and , LLC Commission File Nos. 001-35695 and 000-51719 Pursuant to Rule 425 Under the Securities Act of 1933 And Deemed Filed Pursuant to Rule 14a-12 Under the Securities Exchange Act of 1934

Subject Company: Berry Company Commission File No. 001-09735

a different kind of oil & natural gas company LINNCOLINN Energy HowardNASDAQ:LINE Weil • :LNCO March41st Annual 17 - 21, Ener 2013gy Conference Forward-Looking Statements and Risk Factors lookingStatements statements. made in Thesethese presentation statements are slides based and on by certain representatives assumptions of LINNand expectations Energy, LLC made and byLinnCo, the Company LLC (collectively which reflect the management’ “Company”) sduring experience, the course estimates of this and presentation perception that of historical are not historical trends, current facts are conditions, forward- factorsanticipated believed future to developments, be appropriate. potential Such statements for reserves are andsubject drilling, to a number completion of assumptions, of current and risks future and acquisitions,uncertainties, future many distributions, of which are futurebeyond growth, the control benefits of the of Companyacquisitions,, which future may competitive cause actual position results and to difotherfer accessmaterially to capital from thosemarkets, implied availability or anticipated of sufficient in the cashforward-looking flow to pay distributionsstatements. These and execute include our risks business relating plan, to financial prices and performance demand for and natural results, gas, indebtedness oil and natural under gas LINN liquids, Ener LINNgy’s Enercreditgy’ facilitys ability and to Seniorreplace Notes, reserves thatand efcouldficiently cause develop actual resultsLINN Enerto difgy’fers materiallycurrent reserves, from those LINN anticipated Energy’s abilityor implied to make in the acquisitions forward-looking on economically statements. acceptable See “Risk terms,Factors” regulation, in LINN availabilityEnergy’s 2012 of connectionsAnnual Report and on equipment Form 10-K and and other any important other public factors 2013,filings. except We undertake otherwise no noted. obligation to publicly update any forward-looking statements, whether as a result of new information or future events. The market data in this presentation has been prepared as of February 22, LINNa different Ener kindgy’s ofmission oil & isnatural to acquire, gas company develop and maximize cash flow from a growing portfolio of long-life oil and natural gas assets. NASDAQ:LINELINN Energy • NASDAQ:LNCO LINN EnerOverviewgy 7thNASDAQ:LINE largest public •MLP/LLC NASDAQ:LNCO and 11th largest domestic independent oil & natural gas company(1) EquityLINE IPO market in 2006 cap $1with1.8 enterprise billion value of ~$713 million EnterpriseTotal net debt value $7.7 $19.5 billion billion(1) ~6.4Large, T cfelong-life total proved diversified reserves reserve base(1) 54%62% oilproved and NGLsdeveloped / 46% natural gas ~19,000~16 year grossreserve-life productive index oil and natural gas wells(2) (1)Note: Pro Market forma datafor pending as of February Berry transaction. 22, 2013 (LINE and LNCO closing price of $38.49 and $39.27, respectively). All operational and reserve data as of December 31, 2012, pro forma for pending Berry transaction. California(2) Well count does not include ~2,500 royalty interest wells. UintaCA Basin WYND COUT KSPiceance Basin OKNM MIIL TXEast Texas LACorporate Headquarters () LINNPermian Operations Basin 4Berry Operations Overview of Berry Petroleum LINNHigh Quality Energy Oil Portfolio ProvedNASDAQ:LINE Reserves • NASDAQ:LNCO NGLs~1.65 T7%cfe OilNatural 67% Gas 26% ~40Q4’12 Mboe/d Production (MBoe/d) UintaEast TX 7.5 and Piceance 5.0 PermianCalifornia 8.0 19.1 UintaBerry BasinAsset Map CAPiceance Basin COUT CaliforniaCorporate Headquarters (Denver) EastPermian Texas BerryTX Operations NaturalOil Gas 5Source: Berry Petroleum’s Q4’12 operations press release. Pending Berry Transaction Highlights NASDAQ:LINELINN Energy • NASDAQ: LNCO StructureFirst ever allowsacquisition for: of a public C-Corp by an upstream LLC or MLP LINNTax free to transactionacquire Berry to Berry(C-Corp) shareholders and convert it into an LLC with no immediate payment of tax HighlyFinancial accretive Highlights to distributable cash flow per unit, ~$0.40 per unit (first full year) ImmediatePlan to recommend 2% increase an increase to LNCO to shareholdersLINE’s distribution for Q1’13 of 6.2%to $2.90 for Q3’13per unit to $3.08 per unit (on an annualized basis) AccretionPlan to recommend expected toan increaseincrease into subsequentLNCO’s dividend years of 8.5% for Q3’13 to $3.08 per unit (on an annualized basis), including the 2% increase in Q1’13 6All stock consideration and greatly increased size result in significantly improved debt metrics LINNPending Ener Berrygy Transaction Highlights OperationalNASDAQ:LINE Highlights • NASDAQ:LNCO (1) ~15%Berry’ sdecline long-life, rate low-decline, mature assets are an excellent fit IncreasesIncreased LINN’geographics production presence by in ~240 California, MMcfe/d, the Permianor 30% Basin, , and the Rockies, as well as the addition of a new core area in the Uinta Basin oIncreases Berry’s reservesLINN’s liquidsare ~75% reserves liquids to ~54%, pro forma as of December 31, 2012 Berry’Increasess probable LINN’s and proved possible reserves reserves by ~1.65 total T~3.8cfe, Torcfe 34% 7(1) Reserve estimates for pending Berry transaction based solely on data provided by seller. Hugoton Field Acquisition From BP NASDAQ:LINELINN Energy • NASDAQ:LNCO Liquids-RichOn March 30, 2012, LINN closed a $1.2 billion (1) acquisition in the liquids-rich Hugoton Field from BP. 37%Liquids-rich NGLs / production63% natural of gas ~110 MMcfe/d Low-declineExcellent MLP rate Asset of ~7% ProvedReserve reserves life of ~18 of ~730years Bcfe, with 81% PDP ~800Platform future For drilling Growth locations on >600,000 contiguous net acres 100%~500 identified ownership recompletion of Jayhawk Gasopportunities Processing in Plantthe Chase formation Strategic-FitSignificant excess With LINN’capacity;s Business currently Model 41% utilized LittleImmediately requirement accretive for capitalto DCF investment / unit(2) FinneySteady stream of predictable cash flow KansasHamilton Kearny JayhawkStanton Grant Gas Plant Haskell AcquisitionMorton Stevens Acreage Seward OKKS (1)TX Based on total consideration. 8(2) Distributable cash flow per unit. Jonah Field Acquisition From BP NASDAQ:LINELINN Energy • NASDAQ:LNCO StrategicOn July 31, Rationale 2012, LINN closed a $1.0 billion (1) acquisition in ’s Jonah Field from BP. Long-life,Significant low-decline operated entry natural into gasthe assetGreen River Basin ~1.2Significant Tcfe of future identified drilling resource inventory potential from ~650 future drilling locations ImmediatelyHedged ~100% accretive of net expectedto DCF/unit oil and natural gas production through 2017 ProductionAsset Overview of ~145 MMcfe/d Low-decline55% operated rate by productionof ~14% 73%Proved natural reserves gas, of 23% approximately NGL and 4% 730 oil Bcfe (56% PDP) Park~750 Sheridangross wells on >12,500 net acres WCampbellyoming CrookWeston Big Horn JonahWashakie Teton JohnsonHot Springs Salt Creek SubletteNatrona NiobraraLincoln ConverseFremont GoshenPlatte UintaCarbon OilSweetwater Fields SubletteNatural Gas County Fields FieldAcquisition Area Acreage 9(1) Based on total consideration. Anadarko Salt Creek Joint-Venture NASDAQ:LINELINN Energy • NASDAQ:LNCO StrategicOn April Rationale3, 2012, LINN acquired 23% of Anadarko’s (“APC”) interest in the Salt Creek Field, one of the largest CO2 EOR projects in North America. ExpectUnique, steady high growth production asset growth with low for decline ~10 years rate PotentialExpect to togreatly transfer benefit enhanced from oilAPC’ recoverys extensive (“EOR”) CO2 technology experience to LINN’s existing asset base AssetImmediately Overview accretive to DCF/unit $400Expect million to invest of APC’~$600s developmentmillion over thecosts next 3-6 years Net$200 production million net ~1,600 to LINN’ BOPDs interest (first 12 months)(1) Low-declineExpect to double rate netof <7% production and reserve by 2016 life of ~28 years ParkEstimated Sheridan ~1 billion gross barrels of oil remaining in place CrookCampbell WBigyoming Horn SaltTeton Creek Westonashakie JohnsonHot Springs FremontNatrona LincolnSublette ConverseNiobrara LaBarEXXONge Platte Goshen CarbonField CreekEXXON Plant Shute UintaAll OilSweetwater Fields CO2Natural Pipelines Gas Fields PipelinesNatural Gas 100,000Barrels Oil per Day 1,00010,000 19.9%Primary 24.4% Secondary 9.9% Tertiary Y1910ear 1930 1950 1970 1990 2010 10(1) LINN Energy, LLC estimates. LINNGrowth Ener Throughgy Accretive Acquisitions ~$14NASDAQ:LINE billion in acquisitions • NASDAQ:LNCO since the Company’s inception V¡ Includesalue of Acquisitions 58 separate Pertransactions(1) Year (1) $14,000($’s in millions) $12,000 $10,000 $8,000 $6,000 $4,000 $2,000 $0 $1,367$52 $78 $6,880 $202 $654$1,513 $452 $9,730 $3,281 $2,850 $2,627 $14,069 $3,882 $4,339 $601 $4,000 $5,367 2013TD(2)2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 AcquisitionsCumulative Acquisitions Completed In Year (1)C-Corp Includes Acquisition 15 acquisitions comprising the Appalachian Basin properties sold in July 2008. 1(2)1 Represents the implied transaction value for Berry as of February 20, 2013. LINN EnerHas Createdgy an Acquisition Machine 2010NASDAQ:LINE • NASDAQ:LNCO ¡ BidScreened 41 for 189 ~$10.1 opportunities billion 201¡ Closed1 13 for ~$1.4 billion ¡ BidScreened 31 for 122 ~$7.5 opportunities billion 2012¡ Closed 12 for ~$1.5 billion ¡ ScreenedBid 20 for 246 ~$9.2 opportunities billion Historical¡ Closed 7 Acquisitionsfor ~$2.9 billion and Joint Venture ($’Totals in ~$10.1 millions) Billion Since 2010 $4,500$5,000 $3,500$4,000 $2,500$3,000 $1,500$2,000 $500$1,000 $1,367$0 $2,850$1,513 2010$4,339 (1) 20122011(1) (1) (1)2013TD Based (2) on total consideration. 12(2) Represents the implied transaction value for Berry as of February 20, 2013. MLP and Independent E&P Rankings NASDAQ:LINELINN Energy • NASDAQ:LNCO 7thLINN lar gestis one public of the MLP/LLC largest MLP and independent E&P companies Rank11th lar 1.gest 2. 3. domestic 4. 5. 6. 7. independent 8. 9. 10. 11. oil 12. & 13. natural 14. 15. gas 16. company 17. 18. 19. 20. 21. 22. Master Limited Partnership Enterprise Products Partners Kinder 20.23. 21.24. 22.25. 23.Rank 24. 1. 25. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. PipelineMorgan EnerWilliamsgy Partners Partners Ener Energygy Transfer Transfer Equity Partners Plains LINN All EnerAmericangy PipelineLLC (1) PartnersONEOK MagellanPartners EnbridgeMidstream Ener Partnersgy Partners Boardwalk El Paso Pipeline BuckeyePartners MarkwestPartners Sunoco Energy Logistics Partners AccessPartners Midstream Targa Resources Partners Partners AtlasAmerigas Ener Partnersgy LP Cheniere Western Ener Gasgy Partners Partners Regency Nustar Energy ConocoPhillipsLP Teekay LNG Occidental Partners Copano Petroleum Ener Corp.gy LLC Anadarko Independent Petroleum E&P DevonCorp. Apache Energy Corp.Corporation EOG Resources Marathon Inc. Oil ChesapeakeCorporation EnerNoblegy Ener Corp.gy $24,476Enterprise $22,574 Value ($MM)$19,512 $60,375 $16,698 $48,025 $14,800 $38,964 $13,230 $24,864 $11,658 ContinentalInc. Pioneer ResourcesNatural Resources Inc. Plains Co. Exploration LINN Ener &gy Production LLC (1) Range $5,540$9,567 $5,389$9,379 $5,228$8,602 $5,000$7,234 $4,486$6,851 Enterprise$6,735 $6,417 Value $6,410 ($MM) $5,655 EQTResources Corp. Corp. Cabot Southwestern Oil & Gas Corp. Ener Murphygy Co. Concho Oil Corp. Resources Denbury Inc. $26,927$89,609 $22,620$64,934 $21,131$52,972 $19,512$41,742 $18,207$39,496 $15,507$27,822 $14,512$26,986 QEPResources Resources Inc. Cobalt Inc. Whiting International Petroleum Ener Corp.gy Sandridge Cimarex Ener Energygy Inc. Co. $8,681$13,324 $7,419 $13,033 $6,638 $11,734 $11,291 $11,241 $9,089 $9,073 $8,862 13Note: Market data as of February 22, 2013 (LINE and LNCO closing price of $38.49 and $39.27, respectively). Source: Bloomberg. (1) Pro forma for pending Berry transaction. NASDAQ:LINELINN Energy • NASDAQ:LNCO FinancialLinnCo Structure Highlights and LINNLinnCo Ener Structuregy LINENASDAQ:LINE • NASDAQ:LNCO ScheduleCurrent distribution K-1 (partnership) of $2.90 / unit(1) LLCLINE Units Unitholders LINN$2.90 DistributionEnergy, LLC EstimatedLNCO dividend of $2.90 / share(2) LNCOForm 1099 Shareholders (C-Corp.) $2.90 DistributionDividend LinnCoLLC Units TCommonax shield Shares to LinnCo on LINN LINNEnergy’ hass distribution agreed to pay estimated LinnCo to ~$6 be 100%+million per year for 3 years LINEInvestors (Partnership now have for the tax ability purposes to own / K-1) LINN Energy two ways: (1)LNCO Represents (C-Corp. annualized for tax purposes distribution / 1099) based on Q4’12 distribution of $0.725 per unit paid on February 14, 2013. 15(2) Represents annualized dividend based on estimated increase in Q1’13 (subject to Board approval). LINNLinnCo Ener Structuregy – Advantages ReducesNASDAQ:LINE Tax • NASDAQ:LNCO BurdensReporting NoShareholders state income receive tax filing Form requirements 1099 rather than a Schedule K-1 EfNoficient UBTI(1) Tax implications EstimatedStructure tax at LinnCo(2) 2%0% –for 5% 2013 for 2014 and 2015 1Simple LinnCo & shareFair Structure = 1 vote of LINN unit (1)Similar Unrelated economic business interest taxable income. 16(2) Assumes current strip prices and estimated capital spending. LinnCo IPO Recap NASDAQ:LINELINN Energy • NASDAQ:LNCO LarLinnCo’gest E&Ps $1.3 IPO billion IPO represents a landmark transaction for the energy sector 3rd largest 2012energy IPO IPO 83%Strong institutional institutional allocation demand of ~$2.0 billion Record-breaking126 individual institutional retail demand orders of ~$1.7(~83% billion new to LINN) 17Underwriters exercised full overallotment option on the first day due to strong aftermarket trading performance Future Refinancing Opportunities NASDAQ:LINELINN Energy • NASDAQ:LNCO Debt/EBITDAAll stock deal for expected Berry coupledto be ~3.6x with for increased the second size half of LINN of 2013 provides for meaningful improvement in credit metrics LINN($‘s in Enermillions)gy Notes $4111.75% senior notes due 2017 149.875% senior notes due 2018 7506.50% senior notes due 2019 1,8006.25% senior notes due 2019 1,3008.625% senior notes due 2020 1,0007.75% senior notes due 2021 BerryTotal DebtNotes $4,905 To Be Assumed $20510.25% senior notes due 2014 3006.75% senior notes due 2020 6006.375% senior notes due 2022 $1,105Total Debt Capacity:LINN Energy Revolver Amount$3,000 drawn: Percentage$1,180 drawn: Berry39% Revolver $1,200Capacity: $563Amount drawn: 47%Percentage drawn: 18Source: SEC public filings (data as of December 31, 2012). (DoesSignificant Not IncludeHedge PositionAnnounced Berry Transaction) NASDAQ:LINELINN Energy • NASDAQ:LNCO PutsLINN provide is hedged price ~100% upside on opportunity expected natural gas production through 2017; and ~100% on expected oil production through 2016 VNaturalolumes Gas (MMcf/d) Positions $5.31550 500 $5.42 450 46% 400 350$5.22 300 2013 250 200 150 100 50 $5.12$5.14 $5.00 34%41% $5.19$5.25 20152014 $4.48 $4.88$5.00 36%35% $4.26$4.20 20172016 Swaps$5.00 2018 PercentPuts (1) Puts (2) VOilolumes Positions (Bbls/d) $95.5745,000 $97.8640,000 21%35,000 $94.97 30,000 2013 25,000 20,000 15,000 10,000 5,000 $94.81$92.52 $90.00$91.30 23%25% $96.23$92.92 20152014 $89.10$90.44 $90.00 $89.0222% $90.56 2017 2016 PutsSwaps (3) Note:Percent Except Puts (2) as otherwise indicated, illustrations represent full-year natural gas hedge positions through 2018 and oil positions through 2017, as of December 31, 2012. (1) Excludes natural gas puts used to hedge NGL (2)revenues Calculated associated as percentage with BP ofHugoton hedged acquisition. volume in the form of puts. 2018,(3) Includes and $90.00 certain per outstanding Bbl for the fixed year priceending oil December swaps of approximately31, 2019, if the 5,384 counterparties MBbls which determine may be that extended the strike annually prices areat a in-the-money price of $100.00 on aper designated Bbl for each date ofin theeach years respective ending preceding December year 31,. 2017,The extension and December for each 31, 19year is exercisable without respect to the other years. Significant Hedge Position (Equivalent Basis) LINN(Does EnerNot Includegy Announced Berry Transaction) LINN’NASDAQ:LINEs cash flow • isNASDAQ:LNCO notably more protected from oil and natural gas price uncertainty than its C-Corp. and Upstream MLP peers ExpectedProlonged Production periods of Hedgedweak commodity prices could put further pressure on E&P C-Corps. 100% 37%80% 71%60% 63%40% 47%20% 20130% 100% 30%35% 70%65% 29%49% 4%20% 2015 2014 79%100% 25% 31% 54% 69% 9% 16% 1% 1% 2017 2016 % PutsSwaps %C-Corp. Hedged Peers (1) Note:Upstream LINN’ MLPs hedge Peers percentages % Hedged (2)based on internal estimates. Excludes NGL production and natural gas puts used to hedge NGL revenues associated with BP Hugoton acquisition. (1)Source: Represents Production simple estimates average based and peer on Bloomber group includes:g consensus, CLR, FSTand ,hedge XEC, informationKWK, NFX, based PXD, on PXP publicly, RRC, available SWN and sources. WLL. 20(2) Represents simple average and peer group includes: BBEP, EVEP, LGCY, LRE, MEMP, MCEP, PSE, QRE and VNR. LINNDistribution Energy Stability and Growth LINNNASDAQ:LINE has performed • NASDAQ:LNCO well through all kinds of commodity price cycles –Distribution 16 out of 74 stability MLPs maintained(or 23%) were throughout forced to the reduce Credit or Crisis suspend (i.e. distributions 2008 – 2009) (1) OilDistribution ($/Bbl) History $0$180 $160 $140 $120 $100 $80 $60 $40 $20 StabilityGrowth (58%) During Credit Crisis $0.40Cont. Growth$0.40 (15%) $0.52$0.43 $0.52 $0.63$0.57 $0.63$0.57 $0.63 $0.63 $0.63 $0.63 $0.63 $0.63 $0.63 $0.63 $0.63 $0.69$0.66 $0.69$0.66 $0.69$0.66 $18$0.73 $16 $0.73 $14 $0.73$12 $10 $0.73 $8 $6 $4 $2 $0 Q1(2)Natural Q2 Gas Q3 ($/MMBtu) Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Quarterly2006 2007 Distributions 2008 2009 2010 2011 2012 HenryWTI Crude Hub NaturalOil Gas (1)Source Source: for commodity Wells Fargo prices: Securities, Bloomber LLC g.research note entitled “MLP Primer - - Fourth Edition” published on November 19, 2010. 21(2) The Q1 2006 distribution, adjusted for the partial period from the Company’s closing of the IPO on January 19, 2006 through March 31, 2006, equates to $0.32 per unit. Distribution History NASDAQ:LINELINN Energy • NASDAQ:LNCO 81%Consistently increase paid in quarterly the distribution distribution for 28 since quarters IPO $18.00Distribution $16.00 History $14.00 $12.00 $10.00 $8.00 $6.00 $4.00 $2.00 $17.29$- 0.73 $16.57 0.73 $15.84 0.73 $15.12 0.73 $14.39 0.69 $13.70 0.69 $13.01 0.69 $12.32 0.66 $11.66 0.66 $11.00 0.66 $10.34 0.66 $9.71 0.63 $9.08 0.63 $8.45 0.63 $7.82 0.63 $7.19 0.63 $6.56 0.63 $5.93 0.63 $2.84$5.30 0.570.63 $2.27$4.67 0.520.63 $1.75$4.04 0.520.63 $1.23$3.41 0.430.57 $0.80 0.40 $0.40 2006Q1(1) 2007 Q2 Q3 2008 Q4 2009 Q1 Q2 2010 Q3 201Q4 1Q1 2012 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 CumulativeQuarterly Distribution Distribution 22(1) The Q1 2006 distribution, adjusted for the partial period from the Company’s closing of the IPO on January 19, 2006 through March 31, 2006, equates to $0.32 per unit. LINN EnerHistoricalgy Return LINNNASDAQ:LINE Total Return • NASDAQ:LNCO and Stock Price Appreciation (LINE IPO – Present of ~244%) 0%250% 200% 150% 100% 50% ~244%(50%) ~83%~179% ~24%~37% Line2006 T2007otal Return2008 2009 (TR) 2010 2011 2012 2013 AlerianLine Price MLP Appreciation TR Index S&P 500Mid-Cap TR Index E&P TR Index 23Note: Market data as of February 22, 2013 (LINE closing price of $38.49). Source: Bloomberg. LINNAttractive Ener Vgyaluation LINNNASDAQ:LINE represents an• NASDAQ:LNCO attractive value relative to other yield segments YCurrentield Yields LINE9.0% 8.0%(1) 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% 8.0% 7.8% 1.2% 2.0% 2.2% 3.3% 4.1% 5.6% S&PLNCO(1) E&P Index T10-Yrreasury. FTSES&P 500 NAREIT S&PIndex 500 Utilities Index Note:Alerian Market MLP Indexdata as of February 22, 2013 (LINE and LNCO closing price of $38.49 and $39.27, respectively). Source: Bloomberg. (1) Based on annualized Q3’13E distribution / dividend of $0.77 per unit / share 24(subject to Board approval). SubstantialSize of Institutional Yield Market is NASDAQ:LINELINN Energy • NASDAQ:LNCO ATheverage top 10Portfolio equity incomeYield of mutual ~1.8% funds have an aggregate of ~$293 billion of assets $70,000AUM ($MM) $50,000$60,000 $30,000$40,000 $10,000$20,000 $57,910$0 $27,710$42,860 $25,900$39,500 $25,320 $24,340 $20,500 American$14,600 $14,090 Funds Washington VDodgeangaurd & CoxWindsor Stock Funds TBlackrock. Rowe Price Equity Equity Dividend Income MFSAmerican Value Funds American Mutual TV.anguard Rowe Price Value Mutual Index Shares Value 25Note: Market data as of March 13, 2013. Source: Morningstar and FactSet. Size Advantage in E&P MLP/LLC Market NASDAQ:LINELINN Energy • NASDAQ:LNCO GreaterLINN has access a significant to capital size markets advantage in the E&P MLP/LLC market E&PAbility market to complete presents lar significantlyger transactions more acquisition opportunities than rest of MLP market LINEE&P Sector vs. Other has Upstreamroom to grow; MLPs(1) $36 billion versus $476 billion for all other sectors $20.0Enterprise Value ($B) $16.0$18.0 $12.0$14.0 $8.0$10.0 $4.0$6.0 $0.0$2.0 LINN$19.5 BillionEnergy (2) Mid-Con$16.8 Billion Energy MemorialLRR Energy AtlasPioneer Resource QRLegacy Energy VBreitBurnanguard AllEV OthersEnergy Note:(10 MLPs) Market data as of February 22, 2013 (LINE closing price of $38.49). Source: Bloomberg. (2)(1) ProExcludes forma Constellation for announced Ener Berrygy Partnerstransaction. and Dorchester Minerals LP. MLP/LLC(3) Includes T otalall U.S. EV: ener$512gy Billion(3) MLPs recognized by the National Association of Publically Traded Partnerships (NAPTP). 7%E&P MLP/LLC $476$36 Billion Billion 26All Others 93% Why Invest in LINN? NASDAQ:LINELINN Energy • NASDAQ:LNCO HighStable quality Distributions asset base Long-lifeMulti-year reserves inventory (~16 of years)high-return development opportunities ExtensiveDiversified hedge asset positions;base (7 core reduced areas /commodity ~19,000 gross risk producing wells) AcquisitionsDistributions Growth Drivers ~$1.4Excellent billion(1) acquisition completed track recordin 2010 (58 transactions for ~$14 billion) ~$2.9~$1.5 billion(1) completed in 20122011 Or~$4.3ganic billion(2) Growth announced in 2013 ~15%~30% growth from 20120101 vs. 20122011 LinnCoFinancial IPO Strength has the potential to be a game-changer in terms of access to equity capital TFirstotal incapital class raisedtrack record since IPO:in capital markets $5.4$6.4 billion of bondsequity(3) Note:$11.8 billionAll operational total and reserve data as of December 31, 2012, pro forma for pending Berry transaction. (2)(1) RepresentsBased on total the consideration.implied transaction value for Berry as of February 20, 2013. 27(3) Includes LNCO IPO. LINN Energy FinancialNASDAQ:LINE Appendix • NASDAQ:LNCO LINNProved Ener Reservesgy TheNASDAQ:LINE following table • NASDAQ:LNCO sets forth certain information with respect to LINN’s proved reserves for the year ended December 31, 2012, calculated on the basis required by SEC rules: Mid-ContinentRegion GreenHugoton River Basin Basin Michigan/IllinoisPermian Basin WCaliforniailliston/Powder River EastBasin Texas ProvedTotal Reserves (Bcfe) 1,0101,648 4031,017 181266 82189 %4,796 Natural Gas 56%51% 19%72% 8%97% 82%8% %54% Proved Developed 85%59% 56%43% 96%94% 100%66% 2965% ReconciliationHistorical Financial of Non-GAAP Statements Measures NASDAQ:LINELINN Energy • NASDAQ:LNCO NetThe operatingCompany cashdefines flow adjusted from acquisitions EBITDA as and net divestitures, income (loss) ef fectiveplus the date following through adjustments: closing date; Depreciation,Interest expense; depletion and amortization; WImpairmentrite-off of ofdeferred long-lived financing assets; fees; Provision(Gains) losses for legal on sale matters; of assets and other, net; UnrealizedLoss on extinguishment (gains) losses of on debt; commodity derivatives; RealizedUnrealized (gains) (gains) losses losses on on interest interest rate rate derivatives; derivatives; Realized gains(gains) on losses recovery on canceled of bankruptcy derivatives; claim; ExplorationUnit-based compensation costs; and expenses; AdjustedIncome tax EBITDA expense is (benefit). a measure used by Company management to indicate (prior to the establishment of any reserves by its Board of Directors) the cash distributions the Company expects to make to its unitholders. Adjusted netEBITDA income is isalso a performance a quantitative measure measure used used by throughout Company managementthe investment to communityevaluate its withoperational respect performanceto publicly-traded from oilpartnerships and natural and gas limited properties, liability prior companies. to unrealized (gains) losses on derivatives, realized 30(gains) losses on canceled derivatives, realized gain on recovery of bankruptcy claim, impairment of long-lived assets, loss on extinguishment of debt and (gains) losses on sale of assets, net. AdjustedHistorical EBITDA Financial Statements NASDAQ:LINELINN Energy • NASDAQ:LNCO ThreeThe following Months Endedpresents December a reconciliation 31, 2012 of 201net 1income Year Ended (loss) Decemberto adjusted 31, EBITDA: 2012 2011 Net(in thousands) income (loss) $(187,495) $(189,615) $(386,616) $438,439 NetPlus: operating cash flow from acquisitions and divestitures, effective date through closing date (1) (1,145) 20,086 80,502 57,966 Depreciation,Interest expense depletion 102,331 and 68,052 amortization 379,937 177,673259,725 100,045 606,150 334,084 WImpairmentrite-off of ofdeferred long-lived financing assets fees 276,000 — — — 7,889 422,499 1,189 — ProvisionLosses on forsale legal of assets matters and (3) other (691), net 310 (2) 414 430 1,086 873 1,302 124 UnrealizedLoss on extinguishment (gains) losses of on debt commodity — 240 — derivatives 94,612 (4) 8,281 277,650 277,882 (192,951) Realized gains on recoverycanceled derivativesof bankruptcy (5) claim— — (6) — (3,226)(26,752) — (21,503) — ExplorationUnit-based compensation costs 708 892 expenses 1,915 2,390 7,798 5,484 29,533 22,243 AdjustedIncome tax EBITDA expense $378,974 (benefit) $280,753(1,690) (3,264) $1,402,694 2,790 $997,6215,466 economic(1) Represents benefit cash, from based properties on contractual included arrangements, in the transaction. the Company received or paid from the effective date to the closing date of the transaction. The effective date is the first date the buyer is entitled to receive the (3)(2) RepresentsRepresent gains reserves or losses and settlements on the sale related of assets, to legalgains matters. or losses on inventory valuation and amortization of basis difference for equity method investments. (5)(4) Represent derivativesadjustments canceled in market prior valuations to the contract of derivatives settlement from date. period In 201to period1, commodity and include derivatives the premiums were canceled associated and with the putproceeds option were contracts reallocated over time. within the Company’s derivatives portfolio. 31(6) Represent the recoveries of a bankruptcy claim against Lehman Brothers which was not a transaction occurring in the ordinary course of the Company’s business. AdjustedHistorical Net Financial Income Statements NASDAQ:LINELINN Energy • NASDAQ:LNCO ThreeThe following Months Endedpresents December a reconciliation 31, of net income (loss) to adjusted net income: 2012Year Ended2011 2012 December 2011 31, Net(in thousands, income (loss) except $(187,495) per unit $(189,615)amounts) $(386,616) $438,439 UnrealizedPlus: (gains) losses on commodity derivatives 8,281 277,650 277,882 (192,951) Realized gains on recoverycanceled derivativesof bankruptcy — claim— — (3,226)(26,752) — (21,503) — LossImpairment on extinguishment of long-lived of assets debt —276,000 240 — — 94,612 422,499 — Adjusted(Gains) losses net income on sale $93,955 of assets, $89,1 net 13395 $293,423 838 1,161 $313,331 (17) Plus,Net income per unit: (loss) per unit - basic $(0.83) $(1.09) $(1.92) $2.52 RealizedUnrealized gains (gains) on canceled losses on derivatives commodity — derivatives — — (0.15) 0.03 1.60 1.39 (1.11) ImpairmentRealized gains of long-livedon recovery assets of bankruptcy 1.22 — 2.07 claim — (0.01) — (0.11) — (Gains)Loss on lossesextinguishment on sale of ofassets, debt net— —— —— 0.540.01 — 32Adjusted net income per unit - basic $0.41 $0.51 $1.44 $1.80 Reserve Replacement/F&D Calculations LINNReconciliation Energy of Non-GAAP Measures YNASDAQ:LINEear Ended December • NASDAQ:LNCO 31, Costs2012 201incurred1 (in thousands): Less:Costs incurred in oil and natural gas property acquisition, exploration and development $3,779,713 $2,158,639 PropertyAsset retirement acquisition costs costs (4,675) (2,712,543) (2,427) (1,516,737) ReserveOil and naturaldata (MMcfe): gas capital costs expended, excluding acquisitions $1,062,495 $639,475 Extensions,Purchase of discoveriesminerals in andplace other 1,766,007 additions 579,003 708,695 449,818 RevisionsAdd: of previous estimates (803,163) (120,892) Less:Annual additions 1,671,539 907,929 AnnualPurchase additions, of minerals excluding in place acquisitions (1,766,007) (94,468) (579,003) 328,926 ReserveAnnual production replacement (MMcfe) metrics: 245,663 134,645 Reserve replacement ratiocost per(2) Mcfe680% (1) 674% $2.26 $2.37 DrillbitFinding reserveand development replacement cost ratio from (4) the NM drillbit (5) 244% per Mcfe (3) NM (5) $1.94 (2)(1) (Annual(Oil and additions)natural gas divided capital bycosts (Annual expended) production) divided by (Annual additions) (4)(3) (Annual(Oil and additions,natural gas excluding capital costs acquisitions) expended, divided excluding by (Annualacquisitions) production) divided by (Annual additions, excluding acquisitions) 33(5) Not meaningful due to the impact of a significant decrease in year-end natural gas prices at December 31, 2012, compared to December 31, 2011. NASDAQ:LINELINN Energy • NASDAQ:LNCO describingThe U.S. Securities hydrocarbon and quantitiesExchange inCommission this presentation (“SEC”) including permits “inventory” oil and gas companies,and “resource in potential”their filings that with the the SEC’ SEC,s guidelines to disclose prohibit only resources us from includingthat qualify in asfilings “reserves” with the as SEC.defined These by SEC estimates rules. areWe byuse their terms nature LINNmore speculative Energy’s Annual than estimates Report on of Formreserves 10-K prepared for the inyear accordance ended December with SEC 31, definitions 2012, available and guidelines from LINN and Ener accordinglygy at 600 are Travis, substantially Suite 5100, less Houston,certain. Investors Texas 77002 are ur (Attn:ged to Investor consider Relations). closely the Y reservesou can also disclosures obtain this in Inreport this fromcommunication, the SEC by thecalling terms 1-800-SEC-0330 other than “proved or from reserves” the SEC’ refers websiteto the Company’ at www.sec.govs internal. estimates of hydrocarbon volumes that may be potentially discovered through exploratory drilling or recovered with reserves.additional In drilling addition, or recoverythese hydrocarbon techniques. volumes Those estimatesmay not constitute may be based reserves on economic within the assumptions meaning of withthe Society regard toof commodityPetroleum Engineer prices that’s Petroleummay differ Resource from the pricesManagement required System by the orSEC the toSEC’ be useds oil andin calculating gas disclosure proved directlyrules. Unless affected otherwise by the availabilitystated, hydrocarbon of capital, volume drilling estimates and production have not costs, been commodity risked by Company prices, availability management. of drilling Factors services affecting and ultimate equipment, recovery drilling include results, the scopelease expirations,of our ongoing transportation drilling program, constraints, which regulatory will be interestsapprovals may and dif otherfer substantiallyfactors, and actual from thedrilling Company’ results,s estimatesincluding of geological potential andresources. mechanical In addition, factors ouraffecting estimates recovery of reserves rates. Accordinglymay change ,significantly actual quantities as development that may be of ultimately the Company’ recovereds resource from theplays Company’ and prospectss 34provide additional data. Additional Information about the Proposed Transactions and Where to Find It In connection with the proposed transactions, LINN and LinnCo intend to file with the SEC a registration statement on Form S-4 that will include a joint proxy statement of LinnCo, LINN and Berry that also constitutes a prospectus of LINN and LinnCo. Each of Berry, LINN and LinnCo also plan to file other relevant documents with the SEC regarding the proposed transactions. INVESTORS ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. You may obtain a free copy of the joint proxy statement/prospectus (if and when it becomes available) and other relevant documents filed by Berry, LINN and LinnCo with the SEC at the SEC’s website at www.sec.gov. You may also obtain these documents by contacting LINN’s and LinnCo’s Investor Relations department at (281) 840-4193 or via e-mail at [email protected] or by contracting Berry’s Investor Relations department at (866) 472-8279 or via email at [email protected].

Participants in the Solicitation Berry, LINN and LinnCo and their respective directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transactions. Information about LINN’s directors and executive officers is available in LINN’s proxy statement dated March 12, 2012, for its 2012 Annual Meeting of Unitholders. Information about LinnCo’s directors and executive officers is available in LinnCo’s Registration Statement on Form S-1 dated June 25, 2012, as amended, with respect to its of common shares. Information about Berry’s directors and executive officers is available in Berry’s proxy statement dated April 6, 2012, for its 2012 Annual Meeting of Stockholders. Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed transactions when they become available. Investors should read the joint proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from Berry, LINN or LinnCo using the sources indicated above.

This document shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

Cautionary Note Regarding Forward-Looking Statements This document contains forward-looking statements concerning the proposed transactions, its financial and business impact, management’s beliefs and objectives with respect thereto, and management’s current expectations for future operating and financial performance, based on assumptions currently believed to be valid. Forward- looking statements are all statements other than statements of historical facts. The words “anticipates,” “may,” “can,” “plans,” “believes,” “estimates,” “expects,” “projects,” “intends,” “likely,” “will,” “should,” “to be,” and any similar expressions or other words of similar meaning are intended to identify those assertions as forward-looking statements. It is uncertain whether the events anticipated will transpire, or if they do occur what impact they will have on the results of operations and financial condition of LINN, LinnCo, Berry or of the combined company. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those anticipated, including but not limited to the ability of the parties to satisfy the conditions precedent and consummate the proposed transactions, the timing of consummation of the proposed transactions, the ability of the parties to secure regulatory approvals in a timely manner or on the terms desired or anticipated, the ability of LINN to integrate the acquired operations, the ability to implement the anticipated business plans following closing and achieve anticipated benefits and savings, and the ability to realize opportunities for growth. Other important economic, political, regulatory, legal, technological, competitive and other uncertainties are identified in the documents filed with the SEC by Berry, LINN and LinnCo from time to time, including their respective Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. The forward-looking statements included in this document are made only as of the date hereof. None of Berry, LINN nor LinnCo undertakes any obligation to update the forward-looking statements included in this document to reflect subsequent events or circumstances.