Werner Enterprises, Inc. · NASDAQ:WERN
Werner Enterprises — Merger or Acquisition (January 2026)
10 slides from Werner Enterprises's merger presentation, Jan 28, 2026
Slide 1: We Keep America Moving
MMM WE KEEP AMERICA MOVING”
Slide 2: Disclosure Statement
I} yy) )) i DISCLOSURE STATEMENT i] J ai LT LMM MAY | | TATTLE ELA MINI LLL LLL LL LLL LLL This presentation may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and mad
Slide 3: FirstFleet Is a Leading Dedicated Carrier of Scale
FIRSTFLEET IS A LEADING DEDICATED CARRIER OF SCALE W1)/ MHTIII BUSINESS DESCRIPTION KEY COMPANY HIGHLIGHTS + Strong, long-standing relationships with top-tier customers across several attractive end markets * Founded in 1986, HQ in Murfreesboro, TN « Sustained profitable growth profile * $615M+ of R
Slide 4: Werner + FirstFleet - A Top Dedicated Carrier
WERNER + %7S(Fleet - A TOP 5 DEDICATED CARRIER’ , F ti), HAT LL) WH, LLL MLE /!//, HG LLL LLL LL LLL LLL LLL LLY MLM ML REVENUES?2 FLEET SIZE BY SEGMENT BY SEGMENT I Dedicated ~9,845 $3.0B2 $3.6B2 _ Truckload Transportation TOTAL TOTAL ME Logistics Services (“TTS”) Trucks? REVENUES REVENUES One-Way
Slide 5: Strengthens Our Most Profitable, Specialized Service Offering
STRENGTHENS OUR MOST PROFITABLE, SPECIALIZED SERVICE OFFERING IH) Hi HH TTT TTT LLL ALL If Hi!) Hf) Hi) Hy WL / HA i] Milli} Ni///) {1 // HT Hy Mf} LLL LL LLG MMMM LLY How the Dedicated FirstFleet Deal Impacts Attributes Werner Brings to Werner + $30B+ TAM + Added scale ¥ Adds highly qualified drive
Slide 6: Expands Scale, Network Density and Geographic Reach
EXPANDS SCALE, NETWORK DENSITY AND GEOGRAPHIC REACH I) HH HI HH MLN WERNER WE KEEP AMERICA MOVING TA S reeset toi FirstFleet Dedicated Location @ werner Terminal Werner Dedicated Location Improves Werner’s Ability to Serve Customers + Nearly 300 Dedicated locations in 37 states + Unparalleled densit
Slide 7: Deepens and Diversifies Exposure to Premier Customers Across Our Main Verticals
DEEPENS AND DIVERSIFIES EXPOSURE TO PREMIER CUSTOMERS ACROSS OUR MAIN VERTICALS' yy) Hh MINIM MT LEE TATA / TH !] / WIT MILLI AMET f " / I///, ///) WY LLL MANUFACTURING & INDUSTRIAL (19% WERNER + Core exposure to manufacturing and heavy equipment end markets, supporting OEMs and industrial distribut
Slide 8: Immediately Accretive, Plus Significant Identified Synergies
IMMEDIATELY ACCRETIVE, PLUS SIGNIFICANT IDENTIFIED SYNERGIES I)!//// HTH ALLL AAG HH LLL MI OT MY "))) WNINY MILANI) / } Hf) | / MALLE ah Wy / MI HHH) HH HHT MS |/ Mii} TTL + Purchase 100% of FirstFleet operating entity! equity for $245 million, subject to certain adjustments Terms + Separate agreem
Slide 9: Key Investment Highlights
KEY INVESTMENT HIGHLIGHTS 1. Accelerates Planned Portfolio Transition to Higher-Margin Dedicated Trucking Business 2. Expands Werner’s Scale, Network Density and Geographic Reach 3. Deepens and Diversifies Exposure with Top-Tier Customers in Durable Verticals 4. Strong Cultural Fit with Shared Commi
Slide 10: For More Information, Visit Werner.com
FOR MORE INFORMATION, VISIT WERNER.COM
Werner Enterprises — Merger or Acquisition (January 2026) on 6ix