Rxo, Inc. · NYSE:RXO
Rxo — Merger or Acquisition (October 2026)
15 slides from Rxo's merger presentation, Oct 5, 2026
Slide 1: C.H. Robinson to Acquire RXO – Redefining the Future of Third-Party Logistics
Exhibit 99.2 C.H. Robinson to Acquire RXO – Redefining the Future of Third-Party Logistics While Unlocking Significant Shareholder Value Non-GAAP Financial Measures: These slides include certain financial measures that are not prepared in accordance with generally accepted accounting Page 1 | C.H. R
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Exchange Act. Statements that are not historical facts, including statements about be
Slide 3: C.H. Robinson to Acquire RXO to Form a $25B+ Logistics Platform
C.H. Robinson to Acquire RXO to Form a $25B+ Logistics Platform Consideration One Stronger Estimated Cost Synergies $30.25 Logistics Platform (1) ~$300M Per RXO Share Net Run-Rate Cost Synergies Transaction Value (3) $5.8B Expected Adj. EPS Impact Human Implied Enterprise Value ü Accretive within Le
Slide 4: Defining the Future of Third-Party Logistics While Unlocking Shareholder Value
Defining the Future of Third-Party Logistics While Unlocking Shareholder Value Regardless of Market Cycle Unlocks Compelling Cost Accelerates Our Growth Diversifies End-to-End Builds on a Strong Synergies Strategy Customer Offering Financial Profile • ~$300M net run-rate cost • Improved network dens
Slide 5: Combined Company Will Have Greater Network Density, Enhanced Penetration and Substantial Shareholder Value
Combined Company Will Have Greater Network Density, Enhanced Penetration and Generate Substantial Shareholder Value 2026E + = (1)(5) Incl. Net Run-Rate Cost Synergies Gross Revenue $18.4B $6.8B (1) 2026E $25B+ Gross Revenue Adj. Gross Profit / (1)(2) $2.9B / 15.7% $1.0B / 14.0% Margin (%) 2026E ~$30
Slide 6: RXO Overview
RXO Overview $6.8B $1.0B $137M 18,000 150,000 (1) (1) (1)(2) 2026E Gross Revenue 2026E Gross Profit 2026E Adj. EBITDA Shippers Carriers Complementary Business Mix Diverse End-Market Exposure 2025A Gross Revenue by Service 2025A Gross Revenue by Customer Industry TL & LTL Automotive Brokerage Logisti
Slide 7: Combining Complementary Capabilities to Deliver a Comprehensive Offering
Combining Complementary Capabilities to Deliver a Comprehensive Offering Expands Existing Capabilities New Levers for Growth Multimodal Managed Drop Trailer Expedited Last Mile Brokerage Transportation 11M+ annual deliveries; Dry van and specialized Drop Trailer Plus and Flex Configurable TMS, 3PL 6
Slide 8: A Winning Combination for Customers and Carriers
A Winning Combination for Customers and Carriers Our Customer Promise Our Carrier Commitment We deliver customer success We commit to delivering more ways through exceptional service and to empower your business at every high value, like no one else turn, like no one else Unmatched Expertise More Lo
Slide 9: Multiple Levers to Drive ~$300M of Estimated Net Run-Rate Cost Synergies
Multiple Levers to Drive ~$300M of Estimated Net Run-Rate Cost Synergies rd Cost-to-Serve Shared Services 3 Party Services Other Integration Efficiencies Savings Eliminations Benefits Operating leverage derived Centralize processes and Remove duplication and Consolidate real estate from the Lean ope
Slide 10: Continuation of Proven Strategy That Robinson Implemented in Early 2024
Continuation of Proven Strategy That Robinson Implemented in Early 2024 2023-2024 2027 + 1 2 3 4 5 Continuously RXO Adds More New Defined & Scorecard: Continuous Improving. Volume Management Cascaded Measurable Rigorous Team with Strategy Measurement & Never Stops. to a Proven & Actionable Strategy
Slide 11: Unlocking Significant Productivity & Synergies by Applying Lean AI Operating Model
Unlocking Significant Productivity & Synergies by Applying Lean AI Operating Model (1) Adj. Gross Profit per Employee Robinson’s Proven Strategy ($000s) Lean Operating Model Significant efficiency opportunity at RXO, similar to C.H. Robinson pre-2023 before Lean operating model introduction Aligned
Slide 12: Strong Cash Flow Generation Will Support Capital Allocation Opportunities
Strong Cash Flow Generation Will Support Capital Allocation Opportunities Executing a Disciplined and Balanced Capital Allocation Strategy Rapid Deleveraging Expected Net Debt / LTM Adj. EBITDA (x) Sustain & Drive Growth Minimize Risk 1 2 • Prioritize high-return, close-in • Maintain $600-$750M of l
Slide 13: Redefining the Future of Third-Party Logistics While Unlocking Shareholder Value
Redefining the Future of Third-Party Logistics While Unlocking Shareholder Value Strengthens position in a fragmented market through improved network density Broadens the customer value proposition with combined strengths across diverse modes and geographies Unlocks cross-sell and deeper wallet shar
Slide 14: Appendix
Appendix Page 14 | C.H. ROBINSON Page 14 | C.H. ROBINSON
Slide 15: Transaction Overview
Transaction Overview • C.H. Robinson to acquire 100% of RXO • Approximately $5.3B implied equity value and $5.8B implied enterprise value • Purchase consideration: Transaction — $17.25 in cash plus 0.0856 C.H. Robinson shares for each RXO share Consideration — Implied total consideration of $30.25 p