Investor Presentation August 2017 Disclaimer and Forward-Looking - PowerPoint PPT Presentation

Investor Presentation August 2017

Disclaimer and Forward-Looking Statements Special Note Regarding Forward-Looking Statements This presentation, and certain information that management may discuss in connection with this presentation, contains forward- looking statements, within the meaning of the United States Private Securities Litigation Reform Act of 1995, which are intended to come within the safe harbor protection provided by such Act. These forward-looking statements reflect our current expectations, beliefs, plans, or forecasts with respect to, among other things, future events and financial performance and trends in our business and industry. Forward- looking statements are often characterized by words or phrases such as “may,” “will,” “could,” “should,” “would,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “target,” “prospects,” “potential” and “ for ecast,” and other words, terms, and phrases of similar meaning. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks, and uncertainties. We caution that a forward-looking statement is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statement. Risks and uncertainties that could cause our actual results to differ materially from those contained in the forward-looking statements include, among others, those discussed under the heading “Risk Factors” in our Prospectus dated April 5, 2017 file d with the Securities and Exchange Commission (SEC) pursuant to Rule 424(b) of the Securities Act of 1933, as amended, which is deemed to be part of our Registration Statement on Form S-1 (File No. 333-215244), as well as our other filings with the SEC. Non-GAAP Financial Measures Reconciliation This presentation, and certain information that management may discuss in connection with this presentation, references certain non-GAAP financial measures, including adjusted enterprise revenue (excluding fuel surcharge), adjusted income from operations, adjusted EBITDA, adjusted net income and adjusted diluted earnings per share. Reconciliations of the non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are in an appendix to this presentation. Management believes the use of these non-GAAP measures assists investors in understanding our business as further described below. The non-GAAP information provided is used by our management and may not be comparable to similar measures disclosed by other companies. The non-GAAP measures used herein have limitations as analytical tools, and you should not consider them in isolation or as substitutes for analysis of our results as reported under GAAP. 2

Leading North American Transportation Services Company Iconic Orange Brand Broad Portfolio of Market-Leading Businesses 2016 Adjusted Enterprise 2016 Adjusted Income from  Founded in 1935 in Green Bay, Wis. Revenue (xFSC) 1 Operations 1  Brand reputation of operational excellence Other 2 Logistics Logistics $0.2bn $31mm built on service, trust, and reliability $0.7bn Intermodal 4% 10% $46mm  Industry-leading safety culture and 20% 16% performance 56% 74% 20%  Comprehensive presence throughout Truckload Truckload $2.1bn North America Intermodal $221mm $0.8bn  Portfolio of businesses with different asset $3.8bn $293mm 3 intensities  Only known industry peer of size to have Truckload: Second Largest in North America completed a comprehensive ERP transformation Intermodal: One of the Largest in North America  Strong balance sheet with access to capital provides flexibility to pursue Logistics: Fastest-Growing Segment organic and acquisitive growth initiatives Notes: 1 See appendix for reconciliations; adjusted for fuel surcharge 3 2 Other is net of intersegment eliminations 3 Includes loss of $5mm from other revenue

A Superior Business Built for Sustainable Growth 1 Iconic Large-Scale Transportation Services Provider 2 Diversified Revenue Mix Supporting Resilient Growth Through Cycles 3 Transformative Technology Driving Profitability Across Segments 4 Leadership in First-to-Final Mile 5 A Leading Intermodal Business with Built-In Margin Growth 6 Fast-Growing Non-Asset Logistics Business 7 Well Positioned for Sustainable Growth 4

Iconic Large-Scale Diversified Transportation Services Provider Our formula for resiliency: a balanced business mix  Scale in all segments 2016 Revenue (xFSC) ($mm)  Ability to move freight between modes  Provides more options to drivers, increasing $6,007 retention 779  Provides more options to shippers who want access to capacity and logistics solutions  Aligned and incentivized salesforce $3,752 $3,723 $3,573 166 378 3,472 738 319 1,382 758 $1,830 57 417 $1,028 3,026 2,191 2,091 $555 218 1,757 1,356 810 555 3 4 1 2 1 1 Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Truckload Intermodal Logistics Other Sources: SEC filings, public investor presentations and SNDR management estimates Notes: 1 Intersegment eliminations allocated across segments pro rata for revenue contribution 2 Fuel surcharge allocated across segments pro rata for revenue contribution and excluded to calculate revenue (excluding fuel surcharge) 5 3 Other revenue is net of intersegment eliminations 4 Includes fuel surcharge revenue. Peer 3 does not disclose fuel surcharge revenue

Diversity of Customers and End-Markets Served Supports Stable Growth Through Business Cycles Diverse End- Market Footprint… …With a Broadening Customer Base… 2016 Revenue (xFSC) 1 Change in Customer Concentration 1 Furniture & Floor Covering 5% Consumer Products Construction Goods 11% 4% 59% Food & Beverage 11% General Auto 51% Merchandise 7% 34% 11% Electronics & 12% Appliance 6% 30% 38% Freight Management 9% Transportation 3% Paper 2011 2016 4% Plastics Chemicals 3% 3% #1 – #10 #11 – #20 All Others …that Includes More than 200 of the Fortune 500 Sources: SEC filings, public investor presentations and SNDR management estimates Note: 6 1 Based on adjusted enterprise revenue (excluding fuel surcharge). See appendix for reconciliation

Transformation: Digitizing Our Value Chain $250mm technology investment differentiates us and enables optimized decisions that drive enhanced contribution STATIC CONTRIBUTION DYNAMIC CONTRIBUTION SUSPECT LEAD PROSPECT QUALIFY QUOTE ORDER EXECUTION BILLING CASH INTERNAL & EXTERNAL DATA SOURCES PREDICTIVE, PREVENTIVE, AND PRESCRIPTIVE ANALYTICS  Transformation of culture and business process  Significant driver of margin expansion  Feedback loops to enhance performance over time  Turns “order takers” to “profit makers” Driven by “One Version of the Truth” 7

Significant Scale in Each Core Business … 2016 Operating Revenue (xFSC) 1 2016 Truckload Revenue (xFSC) 1 # of 17,548 11,722 9,529 7,100 4,706 na na Trucks 2 Operating Revenue (xFSC) ($mm) 1 Revenue (xFSC) ($mm) 1 $6,007 $3,026 $3,752 $3,723 $3,573 $2,091 $1,757 $1,356 $1,830 $810 $1,028 $555 $555 $0 3 6 4 4 4 5 Peer 1 Peer 2 Peer 6 Peer 4 Peer 5 Peer 6 Peer 4 Peer 2 Peer 1 Peer 5 Peer 6 Peer 3 2016 Intermodal Revenue (xFSC) 1 2016 Logistics Revenue (xFSC) 1 # of 84,594 29,300 17,653 9,131 na na na Containers 2 Revenue (xFSC) ($mm) 1 Revenue (xFSC) ($mm) 1 $1,382 $3,472 $779 $2,191 $738 $417 $378 $758 $218 $319 $0 $0 $0 $0 4 5 4 5 6 4 4 6 7 4 4 8 Peer 5 Peer 6 Peer 2 Peer 3 Peer 2 Peer 4 Peer 1 Peer 3 Peer 1 Peer 4 Peer 5 Peer 6 Sources: SEC filings, public investor presentations and SNDR management estimates Notes: 1 Revenue excludes fuel surcharge 5 Fuel surcharge allocated across segments pro rata for revenue contribution and excluded to 2 Represents FY 2016 year end equipment count, Peer 5 and SNDR represent average FY 2016 equipment count calculate revenue (excluding fuel surcharge) 3 Represents adjusted enterprise revenue (excluding fuel surcharge) and net of intersegment eliminations. See appendix 6 Includes fuel surcharge. Peer 3 does not disclose fuel surcharge revenue 8 for reconciliation 7 Represents truck brokerage and logistics operations 4 Intersegment eliminations allocated across segments pro rata for revenue contribution 8 Represents non-reportable segment, which includes the Company's logistics and freight brokerage services, as well as support services