Wabash National Corporation · NYSE:WNC
Wabash National — Investor Presentation (August 2010)
28 slides from Wabash National's investor presentation, Aug 9, 2010
Slide 1: Investor Update August 2010
me, OUR INNOVATION MOVES THE WORLD™ Investor Update August 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: Investment Highlights
Investment Highlights
Slide 4: Leading North American Trailer Manufacturer
Leading North American Trailer Manufacturer Top North A i Designer, and of Truck Trailers and Related Transportation Equipment + Leading Market Share Over Years “) Saale WABASH ZI WABASH) + #1 in Dry Van Trailer production for last Reo. an’ Se 5 years DURAPLATE} + #3 in Refrigerated Trailer producti
Slide 5: Comprehensive Product Offering
Comprehensive Product Offering DuraPlate HD® Dry Vans Refrigerated Vans mE F DuraPlate® Dry Vans. ie &. < 31.6% of Sales Steel Platforms Eagle @ Flatbed ~10-20% of Sales. Sheet & Post Dry Vans <2% of Sal <2% of Sales Benson ™ Dumps Aluminum Platforms Dump Trailers Benson ™ Aluminum RoadRailer® Inter
Slide 6: Premier Carrier Relationships
Premier Carrier Relationships KENGHD Ee Conway — © Geeiaion . England SSAC ERMA. Fleets are Wabash customers; Fleets are Wabash customers 34% of Top 100 F 44% of Top 50 Fo!
Slide 7: Geographic Sales & Distribution Overview
Geographic Sales & Distribution Overview HE Doalrs 3 Locations - 100+ salespeople FLATBEDS FullLine -39 Dealers - 83 locations attr = 40 ‘Aluminum Platform -2 Dealers -2 locations + Dump Dealers - 13 Dealers -13 locations WABASH NATIONAL TRAILER CENTERS 25¢ salespeople «15 stores (10 Full Service, 1
Slide 8: Key Initiatives
Key Initiatives reverede iereduct + Product Portfolio Opportunities Ss SL) ieee ieee ° DuraPlate® Products Group Improve Operational + Lafayette Manufacturing Transformation Excellence + Purchasing Consortium See + Cost Reduction Initiatives Recapitalization + Enhance liquidity
Slide 9: A Long History of Innovation
A Long History of Innovation Wabash National was established in 1985 and holds 67 patents Introduced the aluminum plate trailer, becoming the leading industry producer Developed new technologies by working with the world’s largest truckload carriers In 1996 the first composite dry van, DuraPlate®, w
Slide 10: Recent Industry Leading Innovations
Recent Industry Leading Innovations Innovation Launch Date Bonded Skylight 2008 Reduces leaks and simpltfis repairs TrustLock Plus® Door Lock 2009 ropriotarysinlelock cosing mechanism DuraPlate® AeroSkirt ™ & Support 2008 Proven 58% ual effliency improvement Bonding Technologies 2008 ‘Seewals nd Log
Slide 11: Leveraging DuraPlate® Innovation
Leveraging DuraPlate® Innovation ‘Pre-coated galvanized steal shin DuraPlate Composite Sidewall Panels + High density polyethylene (HDPE) core bonded between two sheets of high-strength stee! 4 + Lower cost of ownership: Longer life + Lower maintenance cost + Increased durability bonsai + Enhanced t
Slide 12: Attractive Point in Trailer Cycle
Attractive Point in Trailer Cycle Industry Trailer Net Orders 1991 - Present 40000 WNC Units Units oe ass use ansmonn ee rar a sare aa Sear ee a aa PEESEEEEESEEEEL ESET aoe Previous two cycles lasted 8 and 67 months. Current cycle reached the lowest point to date in Dec.'08, at month Historical cycl
Slide 13: Historical Industry Volumes
Historical Industry Volumes Historical Industry Production 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 1975 1980 1985 1990 1995 2000 2005 ‘Source: 1974-1989:SMCC/TBB: 1989-2009: ACT Research 2009 Was the Lowest Trailer Industry Volume Since 1975 ”
Slide 14: Truck Tonnage
Truck Tonnage ATA’s Truck Tonnage Index (TTI) 120 H \ 5 wa NA ” ye WZ v 405 100 PEPE EP ia Source: Amencan Tsing Assocabons June TTI down 1.4% M/M, % higher than last year
Slide 15: Trailer Loadings
Trailer Loadings Loadings by Trailer Type [thous; SA] JAN 00 JANE JAN? JANO3 JANO4 JANOS JANO8 JANOT JAN8 JAN08 JAN JAN JAN —Dry Van —Reefer — Platform _Souen FR Aszottes gs expected to increase 3.7%, 4.6%, and 4.2% in 2010, 2011, and 2012, respectively.
Slide 16: Industry Outlook
Industry Outlook Total Trailer Shipments 2010 ACT 107,450 FIR 112,773 Dry Van Shipments 2010 ACT 48,100 % Change 60.6% 2011 170,700 147,962 2011 90,000 87.1% 2012 225,200 210,262 2012 125,000 38.9% 2013 240,900 225,000 2013 145,000 16.0% 2014 225,250 227,250 2014 130,000 10.3% Replacement demand is
Slide 17: Financials
me, OUR INNOVATION MOVES THE WORLD” Financials
Slide 18: Financial Highlights
Financial Highlights Revenue 1400 51.2137 a siames = 4% Ba 200s 2006 2007 2008 2009 2a10 m0 Gross Margin 12% 11% om “ | | o a 2 om s 2005 2008 2007 2008 2009 2010 10 Diluted EPS ° ) s308 Se oe ° _-- ‘2005 2008 2007 2008-2009 2410 10 Operating EBITDA Margin‘) 8 — 88 © & » = 2008 2005 2007 2008 2008 2
Slide 19: Cost Actions Implemented to Date
Cost Actions Implemented to Date + Compensation & Benefit Reductions 115% reduction in all salary compensation; 17% for executives Approximately 10% hourly pay reduction, Reduction of standard work week hours for most associates: match, program + Capital Conservation Initiatives + Suspension of quar
Slide 20: Quarterly Financial Highlights
Quarterly Financial Highlights Revenue 5.5 $243.05 959 7 $201.5 00 st611 $1497 Mil fii 783 fl 2008 308 4008 1208 2009 3a08 4009 1010 2010 (gions) 5. e388 i 100 Operating sprrpat 00 = fo) = on oe (553)(360) Pa ($107) § (150) res) 2.200) st) (25.0) 1Q08 208 3208 4208 1009 2009 3a08 409 1010 2010
Slide 21: Equity Offering Summary May 2010
Equity Offering Summary May 2010 Use of Proceeds: Primary - Wabash National Corporation (NYSE / WNC) ‘Secondary - Trailer Investments, LLC 27.9MM shares (11.8MM primary / 16.1MM secondary) Redemption of 100% outstanding Preferred Stock and pay- down of other debt Closed on May 28, 2010 at $6.50 per
Slide 22: 2010, whichis
2010, whichis
Slide 23: Investment Highlights
Investment Highlights
Slide 24: Appendix
me, OUR INNOVATION MOVES THE WORLD” Appendix
Slide 25: Property, Plant and Equipment
PRORURTY. PLANT AND EQUINE at "any s s s Son. 58 Sas (3 one
Slide 26: Consolidated Cash Flows
Consolidated Cash Flows ee
Slide 27: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (sinmitons) Net income (loss Thome tx Ce expense value of warrant ioe Depredation and smonizaton Stosk-based compensation Impairment of goodwill Other nor-operaing (income) expense Operating EBITDA, Operating EBITDA -% of sales cons
Slide 28: Operating EBITDA
Bivmions) Operaing EBITDA Operning EBITDA 6 fer
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