Wabash National Corporation · NYSE:WNC
Wabash National — Shareholder Meeting (May 2010)
24 slides from Wabash National's shareholder meeting presentation, May 13, 2010
Slide 1: Annual Stockholders Meeting May 13, 2010
me, WABASH, <r OUR INNOVATION MOVES THE WORLD™ Annual Stockholders Meeting May 13, 2010
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation will contain certain forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are, however, subject to certain risks and uncertainties that could cause actual results to differ materially
Slide 3: 2009 Review — 1st Half
2009 Review — 1° Half rey Global Economic Challenges + 2008 began with depressed economic conditions + Following financial market meltdown, + Employer and consumer confidence plummeted + Limited access to credit for business purposes + High raw material and component costs carryover + Residential ho
Slide 4: 2009 Review — 2nd Half
2009 Review — 24 half rey Broad Economic Challenges Eased + U.S. economy began to stabilize + Consumer confidence began to improve as job losses slowed High raw material and component costs declined through the period Residential housing markets began to stabilize + Improving year-over-year comps he
Slide 5: 2009 Review: Cost and Facility Actions
2009 Review Laas Cost Actions implemented during ’08/’09 + Headcount adjustments exceeding 70% of hourly workforce + Headcount reductions of 250 salary positions (down 40% since 2006) + Base salary compensation cuts across the board from 10% - 17% + Benefit cuts — suspension of 401K and NQP matching
Slide 6: Key Elements of the Strategic Plan
Key Elements of the Strategic Plan Laas Mission: Transform Wabash National into a diversified industrial manufacturer and service provider by leveraging core competencies; Improve profitability via operational excellence; Capture additional revenue streams through new product development, new market
Slide 7: Strategic Pyramid — Executable Initiatives
Strategic Pyramid — Executable Initiatives iad — Operational | People Customer innovation Corporate Excellence if Focus Growth ime 5. Eh Sinton 8. SgandCitmer 12 Dns 15. Sel Now Mirdscing —* PP ree Nonere Cos i omome | Onporunites 2 Development Brond 99 & Sratoge Sourcing iatives Launch Next 16. Dev
Slide 8: Key Strategic Initiatives
Key Strategic Initiatives iad Pursue Operational + Manufacturing Enhancements Excellence + Purchasing Consortium
Slide 9: Manufacturing Enhancements
Manufacturing Enhancements ees Lafayette Transformation: «Initiative combining lean product standardization, material flow advancements and lean manufacturing methods has resulted in significant improvemer *Standardized multiple dry van design platforms to a single platform, reducing part design var
Slide 10: Purchasing Consortium
Purchasing Consortium Laas Established to identify and increase efficiencies and economies of scale in the procurement of raw materials, component parts and services to the economic benefit of its Members + Achieve incremental cost reduction not available through individual efforts + Each Member ass
Slide 11: Key Strategic Initiatives
Key Strategic Initiatives iad + Manufacturing Enhancements + Purchasing Consortium eres §* DuraPlate® Products Group
Slide 12: DuraPlate Products Group
DuraPlate® Products Group bcs Year 1 Year 2 Year 3 (2008) (2009) (2010) mane . + Developed protalypes = Begloing a See demand built — + Customers began testing + ovate storage containers + Het sales lads products honest on record dung 110 + Made prospoctie customer + Signed comments obegn + Ing rock
Slide 13: Key Strategic Initiatives
Key Strategic Initiatives Pursue Operational + Manufacturing Enhancements Excellence + Purchasing Consortium eS eieleum ° DuraPlate® Products Group Drive Innovation + Industry Leading Technology
Slide 14: Industry Leading Innovations
Industry Leading Innovations Laas Innovation Launch Date TrustLock Plus® Door Lock Proprietary 2009 Jock losing mechanism DuraPlate® AeroSkirt ™ & Support effciency improvement Bonding Technologies ogists New DuraPlate® HD Dry Van Increased damage resience with enhanced Noor rating DuraPlate® Arched
Slide 15: Key Strategic Initiatives
Key Strategic Initiatives iad Pursue Operational + Manufacturing Enhancements Excellence + Purchasing Consortium ile aPeiile-leame © DuraPlate® Products Group i noeaie bans Address Liquidity + Recapitalization
Slide 16: Recapitalization
Recapitalization Laas Engaging a Strong Financial Partner Traler investments, LLC, purchased $35! af redeemable prefered stock in three separate with annual dividend Dividends payments may be accrued for the fist two years to the extent cash flow does not permit payment idend rates increase if the p
Slide 17: 2010 Outlook: Improving Demand Environment
me, OUR INNOVATION MOVES THE WORLD” 2010 Outlook Improving Demand Environment
Slide 18: Economic Overview
Economic Overview Laas Broader Economy Showing Signs of Stabilization + Key Economic Indicators Trending Up — GDP grew 3.2% during 1010 — ISM Manufacturing index improved to 60.4 — Highest level since July 2004 — US Factory orders rose 1.3% in March — Sales agreements for existing homes rose 5.3% to
Slide 19: Historical Trailer Cycles
Historical Trailer Cycles Laas Industry Trailer Net Orders 1991 -Present 40.000 nits at Cycle Lows: 20000 20000 See me eee RUURECEOECUCEUECEEEE Previous two cycles lasted 58 and 67 months. Current cycle reached the lowest point to date in Dec.'08, at month 89 + Historical cycle lengths, as well as v
Slide 20: Industry Outlook
Industry Outlook eet U.S. Truck & Total Trailer Industry Shipments Units 3g 3 50,000 ° FEEL ELE EE EEE CES Class 8 Truck Bi Total Trailers ‘Source: ACT Research 20
Slide 21: Strengthening Industry Outlook
Strengthening Industry Outlook ced Total Trailer Shipments 20102011 ACT 106,775 170,450 FIR 99,741 143,912 Dry Van Shipments 20102011 ACT 48,900 90,000 %Change 63.3% 84.0% Fleets seeing more favorable trends in truck tonnage and loadings 2012 221,950 210,265 2012 125,000 38.9% 2013 242,800 225,000 2
Slide 22: Backlog and 2010 Expectations
Backlog and 2010 Expectations Laas Backlog Continues to Expand + As of 3/31/2010 WNC backlog was $295M — Represents a 115% improvement over $137M in 409 Current backlog is largest since 20'08 2010 Expectations Improved economi expectations \dicators and industry projections positively impacting inte
Slide 23: Core Strengths Today & Tomorrow
Core Strengths Today & Tomorrow bass Well positioned for the future to deliver sustainable profitability over the long-term... Flight to quality: Strong value proposition and unmatched suite of products with #1 position in North American trailer market Strong customer relationships: Long-standing cu
Slide 24: Annual Stockholders Meeting May 13, 2010
me, WABASH, <r OUR INNOVATION MOVES THE WORLD™ Annual Stockholders Meeting May 13, 2010