Werner Enterprises Investor Presentation — November 2022

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EARNINGS PRESENTATION

DISCLOSURE STATEMENT

This presentation may contain forward -looking statements within themeaning ofSection 27AoftheSecurities Actof1933 ,asamended, andSection 21Eofthe

Securities Exchange Actof1934 ,asamended, andmade pursuant tothesafe harbor provisions ofthePrivate Securities Litigation Reform Actof1995 ,as

amended .Such forward -looking statements arebased oninformation presently available totheCompany’s management andarecurrent only asofthedate

made .Such statements arebynature subject touncertainties andrisks, including butnotlimited to,theimpact ofthecoronavirus pandemic (COVID -19)and

theoperational, financial andlegal risks detailed intheCompany’s Annual Report onForm 10-Kfortheyear ended December 31,2021 ,andsubsequently filed

Quarterly Reports onForm 10-Q.These risks and uncertainties could cause actual results orevents todiffer materially from historical results orthose

Forthose reasons, undue reliance should notbeplaced onanyforward -looking statement .The Company assumes noduty orobligation toupdate orrevise

anyforward -looking statement, although itmay dosofrom time totime asmanagement believes iswarranted orasmay berequired byapplicable securities

law.Anysuch updates orrevisions may bemade byfiling reports with theU.S.Securities andExchange Commission, through theissuance ofpress releases

orbyother methods ofpublic disclosure .

Non-GAAP Financial Measures andReconciliations

Tosupplement ourfinancial results presented inaccordance with generally accepted accounting principles intheUnited States ofAmerica (“GAAP”), we

provide certain non-GAAP financial measures asdefined bytheSEC Regulation G,including non-GAAP adjusted operating income ;non-GAAP adjusted

operating margin ;non-GAAP adjusted operating margin, netoffuelsurcharge ;non-GAAP adjusted netincome attributable toWerner ;non-GAAP adjusted

diluted earnings pershare ;non-GAAP adjusted operating revenues, netoffuel surcharge ;non-GAAP adjusted operating expenses ;non-GAAP adjusted

operating expenses, netoffuelsurcharge ;non-GAAP adjusted operating ratio;andnon-GAAP adjusted operating ratio, netoffuelsurcharge .Webelieve

these non-GAAP financial measures provide amore useful comparison ofourperformance from period toperiod because they exclude theeffect ofitems that,

inouropinion, donotreflect ourcore operating performance .Ournon-GAAP financial measures arenotmeant tobeconsidered inisolation orassubstitutes

fortheir comparable GAAP measures andshould beread only inconjunction with ourconsolidated financial statements prepared inaccordance with GAAP .

There arelimitations tousing non-GAAP financial measures .Although webelieve that they improve comparability inanalyzing ourperiod -to-period