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Proficient Auto Logistics Investor Presentation February 2026
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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) ~2.3 M Units Shipped 55+ Strategically Located Facilities 1,200+ Auto transport vehicles & trailers at our disposal daily >90% Automotive OEMs s erved for U.S. transport 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 December 31, 20262
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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 and Integration Progressing Quickly 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: Advanced across all OpCos • Savings opportunities through synergies in areas such as fuel, tires, parts, travel, insurance and employee benefits • Operations: Regionalized with centralized support functions • Enhances resource flexibility, coverage and capacity • Leverages strong industry operations experience and insights • Systems Integration: Completed across all OpCos • Transportation Management System enables better cost allocation and operational efficiency • Accounting platform strengthens corporate controls • Cohesive HR platform and cost accounting methodology • 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: Volatility Continues 14.0 15.0 16.0 17.0 18.0 19.0 20.0 Jan-25 Apr-25 Jul-25 Oct-25 Jan-26 Actual/Estimated 2025 Full Year • SAAR remains volatile; January volume levels deteriorated rapidly, finished well below industry forecasts; forecasts for full- year 2026 are for mid-to-high 15-million units • January SAAR estimated at 14.9M units as severe winter weather disrupting inbound volume, pickup capability and consumer demand • OEM financial results reflect significant cost headwinds, transportation pricing subsequently under substantial cost pressure • Pricing environment is challenging, some rates moving to levels that will not allow for reinvestment • PAL is defending incumbent business and pursuing new lanes with discipline, while striving for share growth • PAL provides critical infrastructure in the transportation supply chain and we have the ability to be nimble to serve customer needs as they make necessary shifts (1) Source: Cox Automotive 6 Seasonally Adjusted Annual Rate (SAAR) Automotive Sales in Millions(1) March: 17.8M SAAR, highest in 4 years, driven by demand ahead of tariffs Summer and Fall demand slump following tariff and EV tax credit expiration demand pull-forward, respectively Est. 14.9M
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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 – Q4 and Full Year 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 to stock-based compensation expense, amortization of intangibles, and other non-recurring items that management does not consider indicative of ongoing operating performance. 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 • Revenue growth demonstrating the Company’s top line growth strategies via market share gains and acquisition in challenging market conditions • Q4 2025: Revenue up 11.5%, units up 11.2% vs. Q4 2024 • Full Year: Revenue up 10.7%, units up 16.2% vs. 2024 • Foundational restructuring, cost control and efficiency improvements achieved in 2025, expect continued operating ratio reduction • Non-cash goodwill impairment charge recorded in Q4 reflects changes in market conditions since the time of our IPO, does not impact liquidity, cash flow, or underlying operations In USD thousands Q4 2025 FY 2025 Revenue before FSC 99,163 404,538 Fuel Surcharge and Reimbursements 6,215 25,888 Total Operating Revenue 105,378 430,425 Total Operating Expenses 135,375 462,760 Total Operating Income (29,997) (32,335) Stock Comp & Intangible Assets 3,707 15,307 Goodwill Impairment Charge 27,787 27,787 Adjusted Operating Income 1,497 10,759 Adjusted Operating Ratio 98.6% 97.5% Income before income taxes (31,457) (40,899) Add Back: Depreciation and amortization 10,127 39,306 Amortization of Stock Compensation 1,253 5,527 Interest Expense 1,498 6,589 Restructuring Charge (Q3 2025) - 1,901 Goodwill Impairment Charge 27,787 27,787 Adjusted EBITDA 9,207 40,210 Adjusted EBITDA Margin 8.7% 9.3%
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Condensed Consolidated Balance Sheet 9 • Healthy cash generation and ample liquidity, newer equipment fleet in excellent condition • Expect debt balances to come down further, retaining substantial borrowing capacity if needed • 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 In USD thousands 12/31/2025 12/31/2024 Cash & Equivalents 14,286$ 15,399$ Accounts Receivable, net 42,189 37,395 Property & Equipment, net 115,850 122,637 Other Assets 33,356 31,109 Goodwill & Intangibles 271,281 301,547 Total Assets 476,962$ 508,087$ Accounts Payable & Accrued Liabilities 38,335$ 31,656$ Other Liabilities 56,108 56,061 Line of Credit - 7,000 Long Term Debt 74,330 75,390 Shareholders' Equity 308,189 337,980 Total Liabilities & Shareholders' Equity 476,962$ 508,087$ The consolidated balance sheet as of December 31, 2025 has not yet been audited by the Company’s independent registered public accounting firm; the consolidated balance sheet as of December 31, 2024 is derived from the Company’s audited consolidated financial statements.
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Building Network Density and Efficiency • Diversifying sources of freight • OEM portfolio provides more reliable revenue with varied contract sizes, time horizons, and geographies served, often contracted with multiple PAL operating companies • Secondary (e.g. used car, rental car) and profitable spot market freight opportunities • ProFleet provides ad hoc, dedicated services, for a premier OEM customer • Leveraging national footprint and resource base • Growing “sister haul” sharing of loads across PAL operating companies substantially • Expanding subhaul network with greater geographic opportunities • Targeting opportunities for backhaul and/or triangulated moves to reduce empty miles, benefitting drivers and the company 3% 3% 94% ProFleet Secondary & Spot OEM Contract Q4 2025 Revenue Breakdown by Type “Sister Haul” Company Revenue Shipped 10 5.1% 10.8% Year End 2024 Year End 2025 Up 2.1x YoY
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Q4 2025 Combined Transportation Revenue Expansive Capacity with Asset-Based Reliability and Asset-Light Flexibility 11 Revenue Breakdown By Driver Type Count: 813 Units Average Age: ~5.5 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 December 31, 2025. 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 • Company fleet best allocated to locations with reliable, baseload volumes with less volatility to drive high utilization • 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 are that fleet capacity is sufficient for the near-term market; maintenance capex replacement targeting older fleet, but net new capacity not needed at this time Over time, the Company expects to convert more freight to Company hauls, as Management believes company trucks generate greater operating margins versus purchased transportation 63% 37% Subhaul / Owner-Operated Company Delivered
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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 earnings growth and stock multiple expansion given industry dynamics and mid-term market opportunity 12