Slide 1: Investor Presentation Fourth Quarter 2025
INVESTOR PRESENTATION FOURTH QUARTER 2025
Slide 2: Forward-Looking Statements
F O R W A RD - LO O K I N G S TAT EM E N TS The Securities and Exchange Commission (the SEC) encourages companies to disclose forward-looking information so that investors can better understand the future prospects of a company and make informed investment decisions. This presentation contains these
Slide 3: Investment Summary
INVESTMENT SUMMARY • Unique story in that we are a 100+ year-old company, with above-market growth potential • Investments in our network, as well as equipment and technology, have us well positioned for market share gains • Committed workforce of roughly 14,500 non-union employees while maintaining
Slide 4: Investing to Support Enhanced Customer Experience
I N VE S T I N G T O S U P P O R T ENHANCED CUSTOMER EXPERIENCE • Investments continue to drive market share gains and customer satisfaction • 69 terminals opened since start of 2017, including in the Great Plains region, expanding Saia’s footprint to a national network • Over $2 billion invested in
Slide 5: Terminal Expansion Driving Revenue Growth
T E R M I N AL E X P A N S I O N DRIVING • Saia’s terminal expansion since 2017 has led to market share gains and profitable growth through opportunities with both new and existing customers REVENUE • New facilities continue to build density as they mature over time GROWTH • The LTL market has estim
Slide 6: Market Share by Region & Three-Year Trend
M AR KE T S H A R E BY REGION & T H R E E -Y E A R T RE ND *National Transportation Data supplied by SMC 3 • Expanded national footprint provides us the opportunity to provide better service to customers, driving market share opportunity throughout the country • Saia’s estimated total market share i
Slide 7: History of Profitable Growth
H I S T O R Y O F PROFITABLE GROWTH Operating Income $600 $500 REVENUE 11.0% $400 $300 OPER ATIN G INCOME 17.8% $200 EARNINGS PER SHARE $100 13.4% $0 2017 2018 2019 2020 2021 2022 2023 2024 2025 *CAGR calculated from 2017 to 2025 7
Slide 8: Investing to Support Improved Network Operations
I N VE S T I N G T O S U P P O R T IMPROVED NETWORK OPERATIONS After Before • New national coverage and improvements in technology allows us to recreate routes to reduce the number of touches and handles, increasing our efficiency • In the example above, the lines show how the trailers run on the ro
Slide 9: Quality and Service Delivered
• As evidenced by customer feedback, investments in people, equipment, and facilities have QUALITY resulted in improved service offering and market share gains AND SERVICE • Third-party data reaffirms growth strategy to drive further customer satisfaction DELIVERED • Providing direct service to the
Slide 10: Customer First Approach
C O R E V A L U E S D R I V E CUSTOMER Customer is at the center of our core values FIRST Actively recruit top talent APPROACH • Onboarding • Annual training programs • Driver Academy • Internship programs Employee engagement drives culture of continuous improvement Expansion efforts promote investm
Slide 11: Safety Driven
SAFETY DRIVEN PEOPLE • Hire experienced drivers • 80+ hours of onboarding for drivers and dockworkers • 300+ driver trainers on staff • Non-union status provides more flexible work schedules, routes and other similar benefits PROCESS • Annually certify all drivers in defensive driving • Weekly pre-s
Slide 12: Pricing to Match Service
P R I C I N G T O • Strategic investments in facilities build density and improve proximity to customer, which MATCH SERVICE help drive premier quality and service offering • ~61% of zip codes are within 50 miles of a Saia facility, up from ~35% in 2017 • Directly service 99% of outbound industry re
Slide 13: Diverse Customer Base
DIVERSE CUSTOMER BASE No single customer represents greater than 5% of sales 13
Slide 14: Fourth Quarter Overview
F O U R T H Q UA R T E R 2 0 2 5 OVERVIEW REVEN UE PER SHIP MENT $352.27 213 ~35K ~15K* ~34K* TERMINALS SHIPMENTS NON-UNION TRACTORS & POUNDS PER SH IPMEN T DELIVERED DAILY EMPLOYEES TRAILERS *as of 12/31/2025 1,348 Q4 2025 Q4 2024 Change Revenue (in millions) 790.0 789.0 0.1% LENGTH OF HAUL Operati
Slide 15: Fiscal Year Overview
F I S C A L Y E A R 2 0 2 5 OVERVIEW REVEN UE PER SHIP MENT $351.99 213 ~35K ~15K* ~34K* TERMINALS SHIPMENTS NON-UNION TRACTORS & POUNDS PER SH IPMEN T DELIVERED DAILY EMPLOYEES TRAILERS *as of 12/31/2025 1,380 FY 2025 FY 2024 Change Revenue (in millions) $3,234.3 3,209.1 0.8% LENGTH OF HAUL Adjuste
Slide 16: Thank You for Your Continued Interest in Saia
A P P E N D I X THANK YOU FOR YOUR CONTINUED INTEREST IN SAIA For more information, visit our website saia.com or contact investors@saia.com
Slide 17: Q4 2025 Financial Position
Q4 2025 FINANCIAL POSITION • Solid capital position • Capacity to fund growth • $500.6 million in Revolving Credit Facility availability • Private shelf agreement allows for $250M in additional funding (in millions) BORROWINGS LIQUIDITY Cash $ - $19.7 Finance Leases 1.0 - Senior Fixed Notes 100.0 -
Slide 18: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES In thousands, except percentages and per share amounts N e t De b t / To ta l C ap i t a l : 1 2 /3 1 /2 0 2 5 Total debt $163,980 Less: Cash and cash equivalents $19,720 20 25 Net debt $144,260 Operating revenue $3,234,286 Shareholders' equity $2,577,69
Slide 19: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES In thousands, except percentages and per share amounts A d j u st e d O p e ra t i n g In co me 2025 2024 Operating Income (GAAP) $352,200 $482,160 Less: Net Operating Income impact of Gain on Real Estate (14,503) - Disposal and Impairment of Real Estate
Slide 20: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES In thousands 2018 2019 2020 2021 2022 2023 2024 2025 $ Net Income 104,981 $ 113,719 $ 138,340 $ 253,235 $ 357,422 $ 354,857 $ 362,065 $ 255,036 Interest Income - - - (11) (217) (6,208) (1,049) (151) Interest Expense 5,418 6,688 5,177 3,212 2,611 2,535 8,
Slide 21: Historical Trends
HISTORICAL TRENDS Revenue ($mil) Operating Income ($mil) EPS ($) 3,500 16.00 600.0 3,000 14.00 500.0 2,500 12.00 2,000 400.0 10.00 8.00 1,500 300.0 6.00 1,000 200.0 4.00 500 100.0 2.00 0 - - 2018 2019 2020 2021 2022 2023 2024 2025 2018 2019 2020 2021 2022 2023 2024 2025 2018 2019 2020 2021 2022 2023
Slide 22: Our Company
OUR COMPANY FY 2022 FY 2023 FY 2024 FY 2025 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3Qtr 4Qtr Rev (in millions) $661 $746 $730 $656 $661 $695 $775 $751 $755 $823 $842 $789 $788 $817 $840 $790 Operating Ratio 84.4 80.4 82.4 85.9 85.0 82.7 83.4 85.0 84.4 83.
Slide 23: Management Overview
MANAGEMENT OVERVIEW Management Team Saia Tenure Industry Experience President & CEO 11 14 EVP & CFO 11 14 EVP, Chief Customer Officer 28 34 EVP, Chief Human Resources 4 4 Officer EVP, Operations 9 9 A P P E N D I X