WERNER 1Q23 EARNINGS PRESENTATION MAY 3, 2023 WE KEEP AMERICA MOVING® 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 manageme ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 14507 Frontier Road Post Office Box 45308 Omaha , Nebraska 68145-0308 (Address of principal executive offices) (Zip Code) [Mark one] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15( ...

Financial Data and Key Metrics Changes - In Q4 2022, revenues increased by 13% to $861 million, while adjusted EPS decreased by 13% to $0.99 [11] - For the full year, revenues rose by 20% to $3.3 billion, and adjusted EPS increased by 7% to a record $3.70 [11] - Adjusted TTS operating margin for Q4 was 15.8%, while for the year it was 15.1% [11] Business Line Data and Key Metrics Changes - Dedicated freight demand in Q4 was solid, with revenues net of fuel increasing by 9% and average trucks up by 4% [25] - One-Way Truckload revenues net of fuel increased by 2%, with average trucks increasing by 7% due to the Baylor acquisition [25] - Logistics revenues grew by 15% in Q4, driven by the acquisition of ReedTMS, with truckload logistics revenues increasing by 20% [26] Market Data and Key Metrics Changes - The freight market in Q4 was seasonally soft compared to the previous year, impacting One-Way Truckload and Logistics [12][20] - The company expects the freight market to be challenging in the first half of 2023, with gradual improvement anticipated in the second half [7] - Retail and food and beverage sectors accounted for 75% of the revenue base in the past year [19] Company Strategy and Development Direction - The company has built a resilient business model that performs well in both strong and challenging freight markets [8] - The introduction of the "Drive" strategy focuses on sustainability, capital allocation, and innovation [16] - The company aims to enhance shareholder value through dividends and share repurchases while maintaining a strong financial position [36] Management's Comments on Operating Environment and Future Outlook - Management anticipates a challenging freight market in early 2023, with expectations for improvement in the latter half of the year [7][42] - The company is focused on integrating recent acquisitions and capitalizing on synergies [37] - Management expressed confidence in the ability to navigate economic challenges due to a diversified business portfolio [8][42] Other Important Information - The company achieved the lowest DOT preventable accident rate per million miles in the last 10 years, reflecting a strong focus on safety [9][31] - The company ended the year with net debt of $587 million and equity of over $1.4 billion, maintaining a net debt-to-EBITDA ratio within its long-term target [33] - The company plans to invest in fleet modernization and technology to enhance operational efficiency [35] Q&A Session Summary Question: Thoughts on earnings power entering 2023 - Management acknowledged headwinds affecting EPS but emphasized ongoing integration efforts and improvements in safety metrics to mitigate these challenges [48][50] Question: Outlook on retail customer inventories - Management noted that while retail inventories are being rightsized, they are optimistic about working with successful retailers who are nearing the end of their inventory adjustments [56][58] Question: Impact of acquisitions on length of haul and margins - Management indicated that acquisitions have contributed to a shorter length of haul but expect this trend to stabilize moving forward [62][64] Question: Thoughts on acquisitions in a downturn - Management expressed openness to future acquisitions but emphasized the importance of focusing on integration and execution of recent acquisitions first [86] Question: Pricing dynamics in the current market - Management indicated a willingness to engage in shorter contract durations if beneficial, while maintaining a focus on long-term contracts for stability [88][91]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q [Mark one] ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 0-14690 WERNER ENTERPRISES, INC. (Exact name of registrant as specified in its charter) Nebraska 47-0648386 (State or other jurisdiction of inc ...

3Q 2022 EARNINGS PRESENTATION November 2, 2022 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 ...

Financial Data and Key Metrics Changes - Revenues increased by 18% year-over-year to $828 million, adjusted operating income rose by 8% to $79.5 million, and adjusted EPS increased by 14% to $0.90 per share [9][12][30] - Adjusted operating income by segment showed TTS grew by $11 million, while logistics declined by $2 million and corporate and other declined by $3.8 million [12][19] Business Line Data and Key Metrics Changes - Dedicated segment ended the quarter with 5,430 trucks, adding 110 during the quarter and 310 year-over-year, with strong demand from long-term customers [9][10] - One-Way Truckload had 3,150 trucks, up 50% year-over-year, but faced fewer project and surge freight opportunities [10][14] - TTS revenues increased by 18% due to 4% more trucks and 8% higher rates, while One-Way Truckload revenues net of fuel declined slightly [13][14] Market Data and Key Metrics Changes - The freight market is experiencing a softening, with fewer premium pop-up freight opportunities and a decline in project and surge freight [10][31] - The logistics segment saw a significant decline in premium pricing opportunities, expected to be down 60% to 70% in the fourth quarter compared to the previous year [50][81] Company Strategy and Development Direction - The company is focused on maintaining a strong and flexible financial position, with a net debt-to-EBITDA ratio of 0.7x and ongoing evaluations for acquisitions in North America [21][26] - The strategy includes careful acquisition processes, emphasizing complementary businesses and strong management teams [23][26] Management's Comments on Operating Environment and Future Outlook - Management noted rising macroeconomic headwinds but achieved year-over-year growth in adjusted earnings per share for the ninth consecutive quarter [6][30] - The company anticipates a subdued peak season in the fourth quarter compared to the previous year, with ongoing inflationary pressures expected to continue [31][30] Other Important Information - The company has made significant investments in its driver training schools, expanding from 13 to 22 locations, although some temporary issues affected performance this quarter [12][60] - The company is committed to ESG initiatives, including partnerships for autonomous truck technology and hydrogen engine purchases [27] Q&A Session Summary Question: Outlook on smaller carriers and spot rates - Management noted a significant increase in deactivations of small carriers, with 3,500 to 4,000 trucks exiting the market weekly, indicating a potential bottoming out of the market [40] Question: Performance of Dedicated segment - Management expressed confidence in the Dedicated segment's resilience, highlighting long-term relationships with customers and the ability to manage inflationary pressures [42] Question: Update on long-term agreements in One-Way business - Management reported that approximately 25% of One-Way business is now tied to long-term agreements, providing stability in a slowing economy [47] Question: Logistics operating margins and future expectations - Management acknowledged that logistics margins were impacted by a lack of project opportunities and startup costs, but expressed optimism for stabilization in the future [81] Question: Capacity exiting the market and brokerage side - Management indicated that while some carriers are exiting, the overall number of carriers in the network is still growing due to recruitment efforts [70] Question: Inflationary cost increases and contract renewals - Management emphasized the importance of discipline in contract renewals and the ability to pass on cost increases to customers [56][78]

INVESTOR PRESENTATION August 2022 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 da ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q [Mark one] ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 0-14690 WERNER ENTERPRISES, INC. (Exact name of registrant as specified in its charter) Nebraska 47-0648386 (State or other jurisdiction of incorpor ...

Financial Data and Key Metrics Changes - For Q2 2022, revenues increased by 29% to $836 million, while adjusted operating income declined by 2% to $77.6 million, and adjusted EPS increased by 1% to $0.87 per share [15][20][25] - The increase in insurance and claims expense was significant, rising over $20 million year-over-year, impacting adjusted EPS negatively by $0.19 per share [9][15] Business Line Data and Key Metrics Changes - The Dedicated segment ended the quarter with 5,320 trucks, achieving 6% truck growth year-over-year, while One-Way Truckload had 3,080 trucks, including a 14% increase in average trucks due to the ECM acquisition [16][17] - Dedicated revenues, net of fuel, increased by 14%, and revenue per truck per week increased by 9.1% [23][34] - One-Way Truckload revenues, net of fuel, increased by 13%, but revenue per truck per week declined nearly 1% due to a decrease in miles per truck [24] Market Data and Key Metrics Changes - The consumer-oriented freight base performed well, with nearly three-quarters of freight revenues coming from retail and food and beverage sectors [13][31] - The freight market for One-Way Truckload moderated from strong to seasonally normal levels, while Dedicated freight demand remained strong and steady [57][59] Company Strategy and Development Direction - The company introduced the Werner DRIVE strategy, focusing on durable financial positioning, exceptional service, and innovation to enhance customer value [42][46] - The strategy emphasizes a balanced revenue portfolio and a commitment to high-quality customers, particularly in consumer staples [30][41] Management Comments on Operating Environment and Future Outlook - Management noted that the current market is returning to a more normalized setting after a period of hyperinflation in metrics like spot market pricing [74] - Concerns about the economy and truckload freight market have increased, with expectations of moderating demand for discretionary goods [61][63] Other Important Information - The company is facing challenges in receiving new trucks and trailers due to supply chain issues, impacting fleet refreshment [19][38] - The CFO announced retirement after 33 years, with a search for a successor underway [64][66] Q&A Session Summary Question: Discussion on Dedicated revenue outlook - Management highlighted a strong pipeline for Dedicated, with significant interest from customers, allowing for selective growth despite economic conditions [72] Question: Market cycle perspective - Management expressed confidence that the supply side is more constrained than in previous cycles, which may prevent a significant decline in the overall environment [76] Question: Capacity in Dedicated market - Management noted that Dedicated is a unique market with high service requirements, and the pipeline remains strong, indicating resilience in demand [84] Question: Impact of AB5 legislation - Management indicated that while Werner is minimally impacted, the legislation could disrupt the industry and negatively affect overall capacity [100] Question: ESG initiatives and new ventures - Management emphasized a commitment to lowering carbon emissions and exploring new technologies, including electric and hydrogen fuel options [107]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q [Mark one] ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 0-14690 WERNER ENTERPRISES, INC. (Exact name of registrant as specified in its charter) Nebraska 47-0648386 (State or other jurisdiction of incorpo ...