Yellow Corporation · OTC:YELLQ
Yellow — Investor Presentation (May 2021)
21 slides from Yellow's investor presentation, May 6, 2021
Slide 1: Yellow Corporation Investor Presentation May 2021
1 Yellow Corporation Investor Presentation May 2021 Exhibit 99.1
Slide 2: Statements & Disclaimers
2 Statements & Disclaimers The information in this presentation is summary in nature and may not contain all information that is important to you. The Recipient acknowledges and agrees that (i) no representation or warranty regarding the material contained in this presentation is made by Yellow Corp
Slide 3: Second-largest LTL carrier in North America
3 We are the second-largest LTL carrier and the fifth largest transportation company in North America. When you combine our regional capabilities with YRC Freight’s national coverage, you get an expansive shipping footprint that only one of the largest LTL companies in North America can provide. ~30
Slide 4: Pre-Transformation Super-Regional Carrier
Pre-Transformation Super-Regional Carrier Integrated nationwide LTL service YELLOW Service Centers Border Gateway Legend 4 Enterprise Transformation
Slide 5: Example of Network Optimization
5 Example of Network Optimization Focused on gaining efficiencies and cost reductions through terminal cohabitation and consolidation Divisional, regional, and area operational reporting structure for Holland, New Penn, Reddaway, and YRC Freight are combined under a single leadership team 18 operati
Slide 6: Expanded Regional Next-Day Service
6 San Antonio Little Rock Richmond Expanded Regional Next-Day Service Moving to a super-regional network includes expanding regional next-day service that leverages YRC Freight’s national coverage Offers customers faster transit times and a more streamlined supply chain
Slide 7: Employees represented by the IBT and multi-employer pension plans
7 Approximately 79% of employees are represented by the IBT and covered by collective bargaining agreements 2021 total annual cash contributions approximately $134 million Contributions made to 29 multi-employer pension plans with various levels of underfunding. Multiemployer Pension plans are separ
Slide 8: Single-Employer Pension Plans (Non-Union)
8 Certain employees not covered by collective bargaining agreements Plans closed to new participants effective January 1, 2004 with benefit accrual for active employees frozen effective July 1, 2008. As of December 31, 2020 the net funded status is fully funded, meaning aggregate fair value of the a
Slide 9: Financial Results
Financial Results Revenue Operating Income (in millions) (in millions) sae sass $76 s4sie ooo 7 $16 1 og” <sa20LTm ”~—«2000=”=«N0t ETM aoa raaouTm ——2000~=~”~«saat TM iw =
Slide 10: Financial Results
Financial Results Adjusted EBITDA Cash and Cash Equivalents and (in mitions) Managed Accessibility (rave) san $215 $192 os $423 sat sit8 2019 (020 TM 2020 (02 LTM warsveo19 3ratreo20—2/s12020 3/91/2021
Slide 11: Reinvesting in the Business
11 CapEx Equivalent as a percentage of revenue 2020 CapEx Equivalent includes less than $1M of capital value of leases (a) (a) (a) (b) 2021 CapEx plan range of $450 million - $550 million includes investments in tractors, trailers, technology, box trucks, containers, liftgates and other assets In 1Q
Slide 12: CARES Act Funding
12 Equity U.S. Treasury received 15.94 million shares of common stock and is the Company’s largest shareholder with approximately 30% of outstanding shares Debt U.S. Treasury loan provides two tranches totaling $700 million in aggregate principal commitments Tranche A for $300 million is to cover de
Slide 13: Capital Structure Overview
13 Term Loan Lease Financing Obligations CDA Notes UST Tranche A UST Tranche B (in millions) UST Tranche A carries a variable interest rate based on the Eurodollar rate, which is currently determined by the 1, 2, 3 or 6-month USD Libor with a floor of 1.0%, plus a fixed margin of 3.5%. 1.5% is paid
Slide 14: Investment Summary
14 Investment Summary Strong industry position with one of the largest, most comprehensive logistics and LTL networks in North America with local, regional, national and international capabilities Multi-year enterprise transformation to One Yellow on schedule for completion in 2022, will create oper
Slide 15: Appendix
Appendix Nolet af, edomey YBC NIB.
Slide 16: Cash Flow
16 Free cash flow = operating cash flow less acquisitions of property and equipment, net of cash proceeds from disposals During FY 2019, the Company recognized cash proceeds on the sale of terminals of approximately $22 million During FY 2020, the Company recognized cash proceeds on the sale of term
Slide 17: Capital Structure and Labor Timeline
17 Largest debt instruments and the labor agreement mature at various dates in 2024 IBT March ABL Facility Jan. Term Loan June CDA Notes December UST Loan Sept. Capital Structure and Labor Timeline
Slide 18: LTM Adjusted EBITDA Covenant
18 (in millions) LTM Adjusted EBITDA Covenant
Slide 19: Operating Statistics – First Quarter
19 (a) Percent change based on unrounded figures and not the rounded figures presented Operating Statistics – First Quarter
Slide 20: Adjusted EBITDA Reconciliation
20 (in millions) Adjusted EBITDA Reconciliation
Slide 21: Investor Relations contact
www.myyellow.com NASDAQ: YELL Tony Carreño Vice President - Investor Relations (913) 696-6108 investor@myyellow.com