#1YRC Worldwide Inc. BB&T Transportation Services Conference February 13, 2013 YRC Worldwide 1#2Forward-looking Statements YRC Worldwide This presentation contains 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. Words such as "will," "expect," "intend," "anticipate," "believe," "project," "forecast," "propose," "plan," "designed," "enable" and similar expressions are intended to identify forward-looking statements. Forward- looking statements are inherently uncertain and are subject to significant business, economic, competitive, regulatory and other risks, uncertainties and contingencies, known and unknown, many of which are beyond our control. Our future financial condition and results could differ materially from those predicted in such forward-looking statements because of a number of factors, including (without limitation) our ability to generate sufficient cash flows and liquidity to fund operations and satisfy our obligations related to our substantial indebtedness and lease and pension funding requirements; our ability to finance the maintenance, acquisition and replacement of revenue equipment and finance other necessary capital expenditures; changes in equity and debt markets and our continued ability to comply with the financial covenants in our credit facilities; general or regional economic recovery, including (without limitation) customer demand in the retail and manufacturing sectors; the success of our management team in implementing its strategic plan and operating performance improvements, and the impact of those improvements on our future liquidity and profitability; inclement weather; price and availability of fuel; sudden changes in the cost of fuel or the index upon which we base our fuel surcharge and the effectiveness of our fuel surcharge program in protecting us against fuel price increases; competition and competitive pressure on service and pricing; expense volatility, including (without limitation) expense volatility due to changes in rail service or pricing for rail service; our ability to comply and the cost of compliance with federal, state, local and foreign laws and regulations, including (without limitation) laws and regulations for the protection of employee safety and health and the environment; terrorist or cybersecurity attack; labor relations, including (without limitation) the continued support of our union employees with respect to our strategic plan, the impact of work rules, work stoppages, strikes or other disruptions, our obligations to multi-employer health, welfare and pension plans, wage requirements and employee satisfaction; the impact of claims and litigation to which we are or may become exposed; and other risks and contingencies, including (without limitation) the risk factors that are included in our reports filed with the Securities and Exchange Commission, including those described under "Risk Factors" in our annual report on Form 10-K and quarterly reports on Form 10-Q. 2#3Table of Contents I. II. Introduction 4Q 2012 and FYE 2012 Financial Update i. Financial Performance ii. Liquidity III. Progress at YRC Freight i. Company Overview and History Operating Company Descriptions ii. V. IV. Conclusion Appendix YRC Worldwide 3#4I. Introduction YRC Worldwide 4#5Introduction YRC Worldwide is one of the largest less-than-truckload (LTL) carriers in North America and generates approximately $5B of revenue by providing services under a portfolio of four subsidiaries YRC Worldwide Reddaway YRC Holland FREIGHT P NEW PENN Approximately 24% of the public carrier market share, providing the broadest coverage and more service capability throughout North America than any competitor YRC Worldwide 5#6YRC Worldwide Tearsheet Revenue Locations Trucks Trailers Annual tons Annual shipments Annual miles tttttt $5.0B 419 U.S. and Canada 15,000 48,000 14.1M 21.9M 1.1B YRC Worldwide 6#7YRC Freight 4 Com to * 1. 4 FOMENT W - Ja akum C 19 HE 1. ir P 46° 1 Represents the number of unique payer locations ** Includes Canada and Mexico YRC Freight was created through the March 2009 integration of the Yellow Transportation and Roadway networks, combining two companies with more than 80 years experience each ● ● ● Customers: Service Centers: Dock doors: Average Length of Haul: Average LTL Weight/Shipment: Total Active Employees: Average days in transit Business by days in transit: Next day Two days Three days Four or more days YRC Worldwide ~ 230,000* 295** ~ 15,500 ~ 1,300 miles ~ 950 pounds - 20,000 ~ 3.5 4% 26% 28% 42% 7#8Regional Transportation ■ Regional Transportation provides transportation service to customers in the regional and next-day markets and is comprised of Holland, Reddaway and New Penn Holland provides local next-day, regional and expedited services through a network located in the Central, Southeastern, and portions of the Northeastern, United States. Holland also provides service to the provinces of Ontario and Quebec, Canada Reddaway provides local next-day, regional and expedited services through a network located in California, the Pacific Northwest, the Rocky Mountain States and the Southwest. Additionally, Reddaway provides services to Alaska and to the provinces of Alberta and British Columbia, Canada - New Penn provides local next-day, day-definite, and time-definite services through a network located the Northeastern United States; Quebec, Canada; and Puerto Rico ● ● ● ● ● ● ● Reddaway * Holland Customers: Service Centers: Dock Doors: Average Length of Haul: Average LTL Weight/Shipment: Total Active Employees: Average Days in Transit P YRC Worldwide NEW PENN. ~200,000* 124 ~ 3,900 ~ 500 miles 1,300 pounds ~ 11,000 P 98% in less than 2 days Represents the number of unique payer locations 8#9YRC Worldwide II. 4Q 2012 + FYE 2012 Financial Update 9#104Q12 Adjusted EBITDA nearly doubles from year ago ($ in millions) 4Q Adjusted EBITDA Adjusted EBITDA $100.0 $80.0 $60.0 $40.0 $20.0 $.0 7.5% 5.5% 3.5% 1.5% $41.3 4Q11 3.4% +86.4% 4Q11 4Q Adjusted EBITDA Margin 6.6% +320 bps $77.0 4Q12 Footnote: 1) Proforma for $35M in pension payments not made in 2011 4Q12 $300.0 $250.0 $200.0 $150.0 $100.0 $50.0 $.0 7.5% 5.5% 3.5% 1.5% $159.2 +51.5% 3.3% $124.2 (1) 2011 2011 2012 (1) Pro forma for $35.0M in pension expense for January - May that was not incurred in 2012. Adjusted EBITDA Margin $241.2 +170 bps 5.0% YRC Worldwide 2012 Consolidated Adjusted EBITDA increased $82M in 2012 and increased by $117M on a pro-forma basis 1 Margin continues to expand as the quality of revenue at YRCF improves and cost management inclusive of safety and Workers' Compensation / BIPD continues to pay dividends despite increase in pension contributions on a full-year basis Regional segment pricing improvement leading to increased profitability and margin expansion 10#11YRCW Adjusted EBITDA (pro forma for Pension) ($ in thousands) $100 $80 $60 $40 $20 $0 ($20) ($40) ($60) ($80) ($100) ($120) Adj. EBITDA Reported Union Pension Cessation Benefit Pro forma Adj. EBITDA* Pension Months Included above Last Twelve Months: Adj. EBITDA Reported Union Pension Cessation Benefit Pro forma Adj. EBITDA* (58.2) 1Q10 (37.2) (21.0) (58.2) 3 (22.3) 15.3 2Q10 40.4 (21.0) 19.4 3 Pro forma Adjusted EBITDA 70.1 3Q10 47.3 (21.0) 26.3 3 19.4 2010 * Pro forma assumes $7M of union pension per month for all periods prior to June 2011 50.5 4Q10 39.9 (21.0) 18.9 3 90.3 (84.0) 6.3 1Q11 2011 (1.3) (21.0) (22.3) 3 126.3 (84.0) 42.3 26.3 2Q11 64.5 (14.0) 50.5 2 150.4 (77.0) 73.4 54.6 -78.8 ■2012 3Q11 54.6 54.6 157.7 (56.0) 101.7 4Q11 41.3 41.3 159.2 (35.0) 124.2 18.9 41.3 1Q12 15.3 15.3 175.8 (14.0) 161.8 77.0 2Q12 70.1 70.1 181.4 181.4 Highest 4th quarter EBITDA in 3 years and positive comping trend continuing Reported 52% LTM increase Pro forma for pension = 1.94x LTM increase 3Q12 78.8 78.8 205.5 205.5 YRC Worldwide 4Q12 77.0 77.0 241.2 +52% 241.2 +1.94x 11#12YRCW Revenue ($ in millions) $1,250.0 $1,230.0 $1,210.0 $1,190.0 $1,170.0 $1,150.0 $1,130.0 $1,110.0 $1,212.3 4Q11 4Q12 YOY -3.6% $1,168.6 4Q12 $4,900.0 $4,800.0 $4,700.0 Full Year YOY $4,868.8 2011 -0.4%- $4,850.5 Increase in revenue at YRC Regional offset by lower volume at YRCF and Truckload disposition at the end of 2011 2012 YRC Worldwide Note: 1) 2011 includes revenue from our disposed truckload operations. Excluding the $98.9M from those disposed operations in 2011, revenue would have been $4,769.9M and would have resulted in a 1.7% YOY increase in 2012. 2) Percent change calculation based on unrounded figures and not the rounded figures presented. 12#13FYE12 YOY Volume - Down at YRCF / Flat at Regional YRC Freight Tonnage per Day Regional Tonnage per Day 27.75 2011 47.91 -2.5% 2011 27.04 YRC Freight Shipments per Day -2.3% 2012 46.79 2012 28.39 2011 39.17 +2.3% 2011 Regional Shipments per Day 29.05 +1.3% 2012 39.69 2012 YRC Worldwide Decline in volume at YRCF largely attributable to continued active customer mix management (increasing price on low margin accounts) Slight increase in volume at Regional due to continued high-quality service and increasing market share Note: Percent change calculation based on unrounded figures and not the rounded figures presented. 13#14FYE12 YOY Yield - Improved Across the Board YRC Freight Revenue per cwt $23.38 $22.67 2011 $263 +3.1% YRC Freight Revenue per Shipment $270 2011 2012 +2.9% 2012 Regional Revenue per cwt $11.21 Note: Percent change calculation based on unrounded figures and not the rounded figures presented. $10.86 2011 $157 +3.2 Regional Revenue per Shipment $164 2011 2012 +4.2% 2012 YRC Worldwide Improved revenue per cwt and revenue per shipment at YRCF attributable to active customer mix management and industry-wide pricing discipline Regional continues to increase due to continued superior service / value and industry pricing discipline 14#15Free Cash Flow ($ in millions) Adjusted EBITDA Total restructuring professional fees Cash paid for interest Cash paid for letter of credit fees Working capital cash flows excluding income tax, net Net cash provided by (used in) operating activities before income taxes Cash received from income taxes, net Net cash provided by (used in) operating activities Acquisition of property and equipment Free cash flow (deficit) Total restructuring professional fees Adjusted free cash flow (deficit) $ 2012 77.0 (28.9) (9.4) (14.3) 24.4 (2.3) 22.1 (18.3) 3.8 3.8 Three months 2011 41.3 (4.3) (22.7) (9.5) $ 27.3 32.1 (5.2) 26.9 Change $ 35.7 4.3 (6.2) 0.1 (35.5) (8.6) 4.3 (4.3) $ (41.6) (7.7) 2.9 (4.8) 17.2 12.4 (4.3) 8.1 Twelve months 2012 241.2 $ (3.0) (120.5) (38.0) (111.5) (31.8) 5.9 (25.9) (66.4) (92.3) 3.0 (89.3) $ 2011 159.2 $ (44.0) (67.5) (16.7) (50.5) (19.5) (6.5) (26.0) (71.6) (97.6) 44.0 (53.6) $ Change 82.0 41.0 (53.0) (21.3) (61.0) (12.3) 12.4 0.1 5.2 5.3 (41.0) (35.7) YRC Worldwide ▪ Quarterly Adjusted FCF improved by $8.1M to $3.8M in 4Q12 from ($4.3M) in 4Q11 Increase in quarterly Adjusted EBITDA is largely due to margin expansion as the quality of revenue at YRCF improves and cost management is maintained Working Capital usage increased by $41.6M due to o Timing of Wages Payable as a result of the day of the week the year ended Higher Workers' Compensation payments in 4Q12 vs. 4Q11 ▪ However, for the year, still burned almost $90M in cash due to increased interest and LC fees ($74.3M) and $72.2M in single employer pension payments 15#16Liquidity ($ in millions) $367 $275 $218 $171 $96 $134 $154 $161 11 $194 $165 $173 $279 $277 $241 $249 $238 $251 4Q08 1Q09 2009 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1011 2Q11 3Q11 4Q11 1Q12 2012 3Q12 4Q12 YRC Worldwide Total Liquidity declined $26M to $251M at the end of 4Q12 from $277M in 4Q11 but held steady all year long, increased $14M from 3Q12 and ended the year at a high point Maintained our liquidity position through increased profitability and effective cash management 4Q12 was one of the highest liquidity levels in the last four years; however, 1Q of each year has historically been a period of liquidity usage as volumes are low and annual payments are made 16#17III. Progress at YRC Freight YRC Worldwide 17#18YRCF - Strategic Direction The last several years of activities have largely been focused on The integration of Yellow and Roadway into YRCF in March 2009 - - Dramatic capacity and cost reductions to right-size the company (facilities, equipment and employees) Financial restructuring efforts, including communication challenges with our customers One result of these activities was that our service quality had been damaged and was in need of improvement Re-branded YRC to YRC Freight to give the company a sense of direction and identity - The Path Forward: ▪ Under new leadership, focus shifted dramatically toward improving the customer experience, with the objective of achieving increased shipment levels, improved business mix and operational efficiency ▪ This will happen in stages Improve service quality and win the hearts and minds of our employees Introduce a new employee mantra and service promise, while maintaining steady costs Productivity improves as we are "in cycle" operationally (fluid and efficient) Costs associated with service failures decline - - - - Volume picks up, customer churn slows down Yield and business mix improve ▪ The new employee mantra is simple ● - YRC Worldwide Pick it up on time. Deliver it on time. Don't bust it. Consistently! 18#19YRCF-2012 Year of Progress Improve Service Quality Increased our on-standard service by 10 percentage points - ▪ Productivity Improvements Performance Improvement Efforts - Dock and hostling productivities, load average and linehaul cost per mile all significantly improved due to our performance optimization efforts led by Maynard Skarka, our new chief operating officer - ■ Increase Volume Year-over-year total tonnage down by 2.5% due to customer mix management to position company to grow the right type of business - ▪ Yield and Business Mix Improvements Year-over-year yield improved 3.1% ■ Safety YRC Worldwide Claims Ratio Significantly improved our claims ratio due to our focus on better freight handling - Implemented the most comprehensive system-wide employee safety training program in our company's recent history 19#20YRCF-2013 Year of Performance ■ Poised for Profitable Growth Darren Hawkins, new Senior VP of Sales and Marketing, hired to lead the sales organization to grow the most profitable segments of our business ■ Network Optimization Focus on network optimization to improve efficiencies in the areas of terminal density, lane density and our ability to direct load with less handling ▪ Improvement in Yield - Continued disciplined pricing efforts to improve yield - YRC Worldwide ■ Focus on Safety Continued rollout of safety initiatives to decrease the frequency of injuries and thus decrease our overall workers' compensation experience ■ Execute on the Fundamentals of Freight ■ Team Powered by Professionals 20#21IV. Conclusion YRC Worldwide 21#22Conclusion - FYE 2012 Financial Results On a year-over-year basis First positive annual operating income in six years Revenue¹ on an as-reported basis was flat and on a pro forma basis increased 1.7% Highest Adjusted EBITDA in six years with covenant cushions between $70M and $80M and reported highest 4th quarter EBITDA in three years Funded debt to EBITDA decreased almost 3.0x full turns from 8.5x to 5.7x YRC Worldwide Liquidity ended 4Q12 at $251.3M which was $26M lower than year-end liquidity in 2011 but a $13.8M increase from 3Q12 and a 2012 high New management team executing on non-quantitative commitments AND exceeding forecast Overall, much progress has been achieved year over year; have been able to absorb resumption of both multi-employer pension expense and cash interest and LC expense but still more to do Footnote 1) On a pro forma basis excluding Glen Moore revenue of $98.9 million from 2011 22#23Conclusion - Qualitative ▪ 2012 was a year of progress and 2013 is the year of performance ▪ With the exception of JHJ, non-core assets have been disposed of and management now laserly focused on North American LTL operations ▪ YRC Freight - focus on execution of the business fundamentals Hired Senior Vice President of Sales & Marketing to lead realigned sales team to enable the Company to grow business that fits the network and core competencies - - - YRC Worldwide Pricing discipline - not chasing market share but chasing profit dollars and margin (i.e. cash) Reducing non-essential G&A headcount Continue safety performance momentum as Company experiencing positive Workers' Compensation and BIPD reserve adjustments as "investments" from the past 12-24 months are coming to fruition. In time, these efforts and subsequent results should lead to lower supporting collateral requirements as well Regional – maintain current operating performance / improvement Focus on peripheral opportunities to continue expanding margin (e.g. accessorial charges) Safety - same as YRCF with the same results ▪ Over the past 12-15 months, management has disposed of most non-core assets / distractions and is solely focused on the North American LTL market and regaining its position as one of the leading carriers in the industry. However, management is not satisfied with consolidated results (especially at YRCF) and are committed to completing what it started. 23#24V. Appendix YRC Worldwide 24#25Reconciliation of Non-GAAP Measures Reconciliation of Operating Income to Adjusted EBITDA Operating income (loss) Depreciation and amortization (Gains) losses on property disposals, net Letter of credit expense Restructuring professional fees Gain (loss) on permitted dispositions and other Equity based compensation (benefit) expense Other nonoperating, net Add: Truckload EBITDA income Adjusted EBIT DA Revenue Adjusted EBITDA Adjusted EBITDA margin 1Q10 2Q10 3Q10 4Q10 1Q11 $ (232.2) $ 49.5 $ (17.3) $ (27.9) $ (68.4) $ 51.2 50.7 50.4 48.6 49.8 8.5 2.6 8.4 8.3 12.4 6.8 5.3 109.9 987.1 (2.8) 8.3 9.5 (0.8) 0.1 (0.0) $ (37.2) $ 40.4 $ (37.2) -3.8% (81.5) 6.8 1,119.1 40.4 3.6% (4.0) 8.3 6.8 0.7 (0.2) 0.9 2.2 0.9 (0.0) 47.3 $ 39.9 $ 1,136.8 1,091.6 47.3 39.9 4.2% 3.7% (3.0) 8.1 9.0 2.2 (1.1) 0.5 1.5 (1.3) $ 1,122.9 (1.3) -0.1% 2Q11 3Q11 4Q11 1Q12 48.1 (5.6) $ (26.1) $ (38.1) $ (48.8) $ 46.7 51.1 49.0 (10.8) 12.9 9.3 8.4 9.6 8.1 12.6 4.3 0.5 (0.3) 0.7 (1.9) 1.1 (0.9) (0.7) 1.8 41.3 $ (7.3) 8.2 18.1 1.0 0.4 0.3 1.3 64.5 $ 1,257.2 64.5 5.1% 15.4 6.9 0.5 54.6 $ 1,276.4 54.6 4.3% 1,212.3 41.3 3.4% 15.3 $ 2Q12 15.5 $ 45.7 (6.5) 9.6 2.5 (0.2) 1.0 2.5 70.1 $ 3Q12 4Q12 27.3 $ 30.0 44.6 44.4 (2.3) (9.2) 9.5 9.3 (0.9) 0.9 (0.3) (1.0) 0.8 2.7 78.8 $ 77.0 1,194.3 1,250.8 1,236.8 1,168.6 15.3 70.1 78.8 77.0 6.6% 1.3% 5.6% 6.4% YRC Worldwide $ FY10 FY11 $(227.8) $ (138.2) $ 201.0 195.7 4.3 (8.2) 33.3 35.2 44.0 35.5 5.3 31.2 6.2 15.5 6.7 3.8 0.9 5.2 90.3 $159.2 $ 241.2 FY12 24.1 183.8 (9.7) 36.3 3.0 (4.0) 3.8 3.9 4,334.6 4,868.8 4,850.5 90.3 159.2 241.2 5.0% 2.1% 3.3% 25