Acquisition of ECM Transport Group  slide image

Acquisition of ECM Transport Group

Terms Financing & Closing Strategic Rationale WERNER Transaction Highlights 80% ownership stake in ECM Transport Group (ECM) Exclusive option to buy remaining 20% ownership stake five years following transaction close $142.4M (funded with cash on hand and new borrowing) Finalized a new $100M loan that matures in May 2024 with BMO Harris Bank N.A., with an all-in interest rate of 1.3% Closed July 1, 2021 Expected to be accretive in year one Expands terminal, fleet and driver footprint in the strategic Mid-Atlantic, Ohio and Northeast regions Network of 8 terminals and 18 drop yard facilities complementary to existing Werner terminal infrastructure Increased exposure to high velocity, shorter length of haul segments of 200-300 miles ● Adds high-quality talent and increases Werner fleet size by more than 6% Addition of over 500 highly-skilled and tenured drivers Extremely low driver turnover Fleet of nearly 500 trucks and 2,000 trailers Synergies expected through combined management of fleet Combines similar cultures focused on safety and customer service excellence Highest standards of driver training and safe operations Continuous investment in technology and IT infrastructure to enhance on-time delivery performance Shared values of picking winning customers with high expectations, establishing long-term mutual service and revenue objectives, and delivering best-in-class performance to stabilize volume and minimize churn Existing ECM leadership (including founder and President Ed Meier), drivers and non-driver associates will remain in place and we are retaining the ECM brand to ensure smooth integration and high driver retention ECM will operate as a standalone business unit within Werner and their financial results will be reported in Werner's One- Way Truckload unit within Truckload Transportation Services WE KEEP AMERICA MOVINGⓇ 3
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