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Proficient Auto Logistics Q2 2025 Investor Presentation June 4, 2025
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Who We Are – Proficient Auto Logistics (“PAL”) • Proficient Auto Logistics (PAL) is an industry leading specialized freight company focused on providing auto transportation and logistics services utilizing one of the largest auto transportation fleets in North America • The Company is primarily focused on transporting and delivering finished vehicles from auto production plants, ports of entry and rail hubs to a national network of automotive dealerships Top 2 Largest Auto Hauler (1) ~ 800 Dedicated Employees (2) ~2. 5M Units Shipped 55+ Strategically Located Facilities 1,200+ Auto transport vehicles & trailers at our disposal daily 17 of 18 Global OEMs Served Source: Certain information is based on management estimates, which have been derived from third-party sources and internal research and are based on certain assumptions management believes to be reasonable (1) Based on auto transportation assets (2) As of May 31, 20252
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Management Team 30+ years of experience in the financial services industry 25+ years of experience in the transportation and logistics industry 10+ years of experience in transportation and logistics industry PMC Consolidated Holdings, LLC (Former) Chief Financial Officer (Former) Executive Vice President, Chief Financial Officer and Chief Administrative Officer Richard “Rick” O’Dell Chief Executive Officer (Former) CEO (Former) Vice President roles in Operations, Finance, and Strategy (Former) Independent Director (Current) Non-Executive Chairman of the Board of Directors (Former) Chief Financial Officer, President and Chief Executive Officer Brad Wright Chief Financial Officer Amy Rice President & Chief Operating Officer Charles AluttoDoug ColJim Gattoni C-Suite Executives Outside Directors (Current) Operating Executive (Former) President & Chief Executive Officer (Current) EVP & Chief Financial Officer (Former) Director (Former) President & Chief Executive Officer (Former) Senior Audit Manager SAIA’s Share Price(1) Under Rick’s Leadership: ~$7 ~$428 Assisted in the Sale of FBR & Co. for 1.5x Book Value(1) while Increasing Shareholder Value John Schraudenbach (Former) Partner (Current) Chairman Brenda Frank (Former) Chief People Officer (Current) SVP Human Resources 3
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PAL At a Glance 4 PAL Locations Five Founding Companies Post-IPO Acquisitions Strategically located facility network with close proximity to major ports and rail hubs Proven growth strategy – both organic and via acquisition - with ample opportunity ahead Strong relationships with leading OEMs with more than 10 years of tenure with more than 10 global OEMs Expansive geographic footprint coupled with blue chip, leading OEM customer base across North America Less Delivery Density More Delivery Density
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PAL Evolution Underway 5 • Acquired April 2025 • Headquartered in Wind Gap, PA • Regional locations at four key customer origins in the Northeast • Brings new, and expands existing, OEM partnerships in PAL’s portfolio • Acquired August 2024 • Headquartered in Ogden, UT • Diverse customer portfolio including vehicle manufacturers, rental fleet owners, auto auctions and dealerships • Enhances network density in the West Additional Acquisitions Completed since May 2024 IPO Integration Milestones Achieved • National Procurement Effort: Implementation Underway • Pursuing savings opportunities through synergies in areas such as fuel, tires, parts, travel, and employee benefits • Operations: Regionalized with centralized support functions • Enhances resource flexibility, coverage and capacity • Leverages strong industry operations experience and insights • Systems Integration: Progressing across all OpCos • Transportation Management System enables better cost allocation and operational efficiency (end-Q2) • Accounting platform strengthens corporate controls (end-Q2) • Cohesive HR platform and cost accounting methodology (end-2025) • Customer Focus: Actively engaging customers on shared priorities • Service, relationships and communication • Blending legacy operating company and PAL touchpoints, consistent with varied customer preferences • Company Culture: Unified Mission, Vision, and Values • Guiding principles align company culture
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Market Environment 6 16.0 15.6 16.0 17.8 17.3 16.0 FY 2024 Jan Act Feb Act Mar Act Apr Act May Fcast Seasonally Adjusted Annual Rate (SAAR) Automotive Sales in Millions(1) Market • After weak demand in January/February, automotive sales and transportation accelerated through March/April, driven by buying ahead of tariff impacts • May 2025 SAAR expected to slow from peak levels, and full year forecasts are generally lower with a greater range of uncertainty • New vehicle inventory is down substantially with buying, some importers have slowed or stopped the flow of replacement inventory • Potential for policy changes and additional tariffs have obscured and stalled OEM plans Implications • As pre-tariff dealer inventory is sold and prices increase with tariffs, sales momentum is expected to slow further • OEMs are facing increased costs and are under significant cost reduction pressure • Near-term pricing power is weak, and OEMs are tending towards incumbents on contract bids • Under market conditions like January and February, would expect some carriers to default/exit • PAL positioning for share capture at sustainable rate levels, which will accelerate if capacity exits the market and/or when demand rises (1) Source: Cox Automotive
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PAL vs. Other Major Auto Hauling Carriers National Network Competitive Landscape 7 Source: Certain information is based on management estimates, which have been derived from third-party sources and internal research and are based on certain assumptions that management believes to be reasonable, FMSCA. Number of Trucks • Market conditions and other competitive pressures resulted in the cessation of business by Jack Cooper in Q1 • A significant amount of OEM contract business was immediately redistributed among market participants, including PAL • Much of the truck capacity left the market and will not return; however, effect has been muted by weaker overall market conditions • Union pensions and healthcare obligations result in higher costs compared to non-union carriers • Non-union opportunities offer greater earnings potential for motivated drivers 1,200 United Road Jack Cooper (Union) PAL Hansen & Adkins Cassens (Union) Virginia Accelerated USAL Diversified Exited Market Q1 2025
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Summary Unaudited Financial Information – Q1 2025 Our management team reviews Adjusted Operating Income and the related Adjusted Operating Ratio, both of which are non-GAAP financial measures, as a basis for comparing the results of financial reporting periods excluding the impact of non-cash expenses related solely to our recent IPO and the concurrent corporate combinations. These measures provide management with the requisite insight regarding progress on operating and integration initiatives. Our management team reviews Adjusted EBITDA and Adjusted EBITDA Margin, both of which are non-GAAP financial measures, to measure the operating performance and financial condition of our business and to make strategic decisions. 8 • Q1 rebounded significantly starting mid-quarter with start of new business and tariff-driven pull- forward, offsetting general market weakness • Revenue Per Unit up 5%, Units down 5% • Adjusted OR and Adjusted EBITDA improved modestly in challenging conditions • For Q2, projecting sequential growth in total revenue in the high single digits for the quarter • At expected revenue levels above fixed cost coverage, we also expect improved profitability In USD thousands Q1 2025 Q4 2024 Var Revenue before FSC 87,625 88,118 (493) Fuel Surcharge and Reimbursements 7,581 6,402 1,179 Total Operating Revenue 95,206 94,520 686 Total Operating Expenses 97,569 96,929 640 Total Operating (Loss) Income (2,363) (2,409) 46 Stock Comp & Intanglible Assets 3,599 3,552 47 Adjusted Operating Income 1,236 1,143 93 Adjusted Operating Ratio 98.7% 98.8% (0.1%) (Loss) Income before income taxes (3,894) (4,257) 363 Add Back: Depreciation and amortization 8,904 8,128 776 Amortization of Stock Compensation 1,183 1,136 47 Interest Expense 1,571 1,961 (390) Adjusted EBITDA 7,764 6,968 796 Adjusted EBITDA Margin 8.2% 7.4% 0.8%
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Condensed Consolidated Balance Sheet 9 • Net debt as of end-Q1 was $68.4 million, ended the quarter with a combined $28 million in available borrowing capacity • Capex limited in Q1, spend over the balance of 2025 will depend heavily on market conditions • Expect the PAL balance sheet to be a differentiating factor in the market, enabling pursuit of growth opportunities and ability to manage industry challenges effectively
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Building Network Density and Efficiency Multiple levers for filling into the network and improve density and transportation efficiency: • Diversify sources of freight • OEM contract portfolio and additional wins provide a reliable portion of total revenue • Secondary (e.g. used car, rental car) and profitable spot market freight opportunities • ProFleet provides ad hoc, dedicated services for a premier OEM customer • Leverage national footprint and resource base • Growing “sister haul” sharing of loads across PAL operating companies substantially • Subhaul collaboration within industry carriers • Target opportunities for backhaul and/or triangulated moves to reduce empty miles, benefitting drivers and the company 2.7% 3.7% 5.1% 6.3% 8.7% 8.6% Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 5% 5% 90% ProFleet Secondary & Spot OEM Contract Q1 2025 Revenue Breakdown by Type “Sister Haul” Company Revenue Shipped 10
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Q1 2024 Combined Transportation Revenue Expansive Capacity with Asset-Based Reliability and Asset-Light Flexibility 11 Revenue Breakdown By Driver Type Count: 922 Units Average Age: 5 Years Tractor-Trailer Units Source: Certain information is based on management estimates, which have been derived from third-party sources and internal research and are based on certain assumptions management believes to be reasonable. (1) Data as of May 31, 2025. 65% 35% Subhaul / Owner-Operated Company Delivered A Leading Company-Owned Fleet(1) • PAL’s company-owned fleet has expanded by ~275 units since the initial IPO, through new truck purchases and two acquisitions • Able to transfer revenue-generating equipment and drivers across geography to meet changing business needs • Given the shorter nature of its hauls, PAL is able to extend the useful life of its assets compared to over-the-road carriers • Company-owned shop facilities support maintenance for owned fleet as well as third parties • Current expectations for 2025 are modest additions of equipment to be deployed to support known business needs • Retaining flexibility to add incremental equipment if needed to support additional new business wins Over time, the Company expects to convert more freight to Company hauls, as Management believes company trucks generate greater operating margins versus purchased transportation
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Summary: A Clear Path to Creating Shareholder Value • Strong Management and Leadership team with a track record of creating shareholder value • Established relationships and long-term contracts with leading, blue-chip customer base; well- capitalized platform to grow share of a large addressable market • Integrated, national footprint sustaining performance in the current market, will strengthen further as market conditions improve • Future M&A opportunities in a highly fragmented industry to complement organic growth • Poised for superior earnings growth and stock multiple expansion given industry dynamics and market opportunity 12
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Appendix
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Historical Success in the LTL Industry Mirrors Present Opportunity in Auto Transportation and Logistics 14 (1) Represents CAGR from CY2009 – CY2023A. Data is publicly available. Scale & Regional Density Organic Growth (Regionally) Focus on Service Regional Acquisitions of a Highly Fragmented Market Market Share Shifting from Union to Non- Union Auto Transportation & Logistics Companies Pricing Discipline Less Empty Miles Dramatically Improved Operating Margins Sustainable Organic Revenue Growth Focus on Damage Management + + + + Regional Non- Union LTLs Saia growth over 15 Years (2009-2023)(1) Revenue grew at a 9.2% CAGR from $0.85B to $2.90B Operating Margin expanded from (0.4%) to 16.0% Stock Price grew at a 34.1% CAGR from $7 to $428 LTL Industry over the Last 40 Years Non-union regional LTLs have grown at the expense of unionized carriers over the last 20+ years due to deregulation Revenue growth well in excess of industrial production Proficient Auto Logistics
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Executing on Backhaul Synergies 15 (1) Light blue state borders represent ATG regions covered in addition to AZ, MT, SD, WA and WY. Increased Utilization = Incremental EBITDA for PAL Delta Deluxe Sierra Tribeca Represents significant backhaul opportunities Note: Proficient Auto Transport serves all 48 contiguous states Regions Covered(1) States with a diagonal pattern represent overlapping territories Empty MileLoaded MileTerminal CASE STUDY: DELUXE/SIERRA MOUNTAIN NETWORK COLLABORATION Sierra Mountain Sierra MountainDeluxe Sierra Mountain Sierra Mountain Deluxe ATG
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Significant Barriers to Entry vs Van Truckload 16 (1) Information is based on management estimates, which have been derived from third-party sources and internal research, and are based on certain assumptions that management believes to be reasonable. (2) Number of auto haulers represents qualified competitors of scale that compete for OEM contracts. (3) American Trucking Associations. (4) Transport Topics Top Truckload Carriers 2023. (5) Coyote Logistics. (6) SJ Consulting Group. Standard Truckload Hauler VAN TRUCKLOAD LESS THAN TRUCKLOAD LTL Hauler and Terminal Highly Specialized Auto Rig AUTO TRANSPORTATION Focus on Service Focus on Service Focus on Service Consolidated Industry Consolidated Industry Consolidated Industry Specialized Equipment Specialized Equipment Specialized Equipment Strategic Real Estate Strategic Real Estate Strategic Real Estate National Footprint National Footprint National Footprint TYPICAL SERVICE ATTRIBUTES BY HAULING TYPE(1) ~$400K ~70 70% Cost of an auto rig(1) # of auto haulers (1)(2) Market Share Top 10 companies (1) ~$250K ~750k <10% Cost of tractor & trailer(1) # of TL carriers (3) Market Share Top 10 companies (1)(4) ~$250K ~200 75%+ Cost of tractor & trailer(1) # of LTL carriers (5) Market Share Top 10 companies (6)