Strategic Rationale 01 Capacity constraints and climbing transportation costs forcing shippers to adapt their operations $4T1 6%2 14%2 11%3 Global freight Estimated transportation Estimated MT Fees 3PL outsourcing CAGR TAM globally spend CAGR through ‘24 CAGR through ‘24 through last 20 years World is run US trucking costs Shippers are accelerating by trucks rising faster than GDP their adoption of technology and outsourced logistics 1. Armstrong & Associates, Inc., “Third-Party Logistics Market Results And Trends for 2016” (2016) 2. AT Kearney Analysis. 3. Armstrong & Associates (DTM only)