Schneider National (SNDR) investor relations material

Company overview and business model

• Operates across truckload, intermodal, and logistics platforms, with a focus on dedicated truckload contracts for stability and deeper customer relationships.

• Intermodal business is asset-based, with strong partnerships with Union Pacific, CSX, and CPKC, enhancing cross-border service with Mexico.

• Logistics segment includes contract logistics, brokerage, and a growing Power Only service, leveraging owned trailers and small carriers.

• Each segment has distinct asset intensity and margin profiles, with ongoing efforts to innovate and adapt to market changes.

• Celebrating 90 years, the company continues to reinvent itself through new services and strategic rail relationships.

Market environment and regulatory landscape

• Freight demand showed some momentum in July but softened in August and September, stabilizing in October.

• Consumer caution, influenced by government uncertainty, led to reduced volumes in food and beverage segments.

• Regulatory enforcement is tightening, especially around non-domiciled CDLs, B1 Mexican driving programs, and ELD compliance.

• Increased focus on ELD device compliance aims to reduce hours-of-service violations and level the playing field.

• Supply rationalization is expected to play a larger role in the next cycle, with optimism for a more constructive environment in 2026.

Intermodal and rail market dynamics

• Intermodal service reliability has improved, with 10% year-over-year growth in Q3, outperforming competitors.

• Strategic rail partnerships and allocation planning have differentiated the company in the market.

• Pending rail mergers and service design changes are expected to further reduce friction and create new growth opportunities.

• Domestic intermodal is seen as the primary growth market moving forward.