Werner Investor Presentation
DISCLOSURE STATEMENT
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 made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended.
Such forward-looking statements are based on information presently available to the Company's management and are current only as of the date made. Such
statements are by nature subject to uncertainties and risks, including but not limited to, the operational, financial and legal risks detailed in the Company's Annual Report
on Form 10-K for the year ended December 31, 2022 and subsequently filed Quarterly Reports on Form 10-Q. These risks and uncertainties could cause actual results
or events to differ materially from historical results or those anticipated.
For those reasons, undue reliance should not be placed on any forward-looking statement. The Company assumes no duty or obligation to update or revise any
forward-looking statement, although it may do so from time to time as management believes is warranted or as may be required by applicable securities law. Any such
updates or revisions may be made by filing reports with the U.S. Securities and Exchange Commission, through the issuance of press releases or by other methods of
public disclosure.
Non-GAAP Financial Measures and Reconciliations
To supplement our financial results presented in accordance with generally accepted accounting principles in the United States of America ("GAAP"), we provide certain
non-GAAP financial measures as defined by the SEC Regulation G, including non-GAAP adjusted operating income; non-GAAP adjusted operating margin; non-GAAP
adjusted operating margin, net of fuel surcharge; non-GAAP adjusted net income attributable to Werner, non-GAAP adjusted diluted earnings per share; non-GAAP
adjusted operating revenues, net of fuel surcharge; non-GAAP adjusted operating expenses, net of fuel surcharge; and non-GAAP adjusted operating ratio, net of fuel
surcharge. We believe these non-GAAP financial measures provide a more useful comparison of our performance from period to period because they exclude the effect
of items that, in our opinion, do not reflect our core operating performance. Our non-GAAP financial measures are not meant to be considered in isolation or as
substitutes for their comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP.
There are limitations to using non-GAAP financial measures. Although we believe that they improve comparability in analyzing our period-to-period performance, they
could limit comparability to other companies in our industry if those companies define these measures differently. Because of these limitations, our non-GAAP financial
measures should not be considered measures of income generated by our business. Management compensates for these limitations by primarily relying on GAAP
results and using non-GAAP financial measures on a supplemental basis.
WERNER WE KEEP AMERICA MOVINGⓇ
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