August 2017 - s21.q4cdn.com Leadership in First-to-Final Mile 5 A Leading Intermodal Business with Built-In Margin Growth ... 7 Represents truck brokerage and logistics operations

Investor Presentation

August 2017

Disclaimer and Forward-Looking Statements

2

Special Note Regarding Forward-Looking Statements

This presentation, and certain information that management may discuss in connection with this presentation, contains forward-

looking statements, within the meaning of the United States Private Securities Litigation Reform Act of 1995, which are intended to

come within the safe harbor protection provided by such Act. These forward-looking statements reflect our current expectations,

beliefs, plans, or forecasts with respect to, among other things, future events and financial performance and trends in our business

and industry. Forward-looking statements are often characterized by words or phrases such as “may,” “will,” “could,” “should,”

“would,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “target,” “prospects,” “potential” and “forecast,” and

other words, terms, and phrases of similar meaning. Forward-looking statements involve estimates, expectations, projections,

goals, forecasts, assumptions, risks, and uncertainties. We caution that a forward-looking statement is not a guarantee of future

performance and that actual results could differ materially from those contained in the forward-looking statement.

Risks and uncertainties that could cause our actual results to differ materially from those contained in the forward-looking

statements include, among others, those discussed under the heading “Risk Factors” in our Prospectus dated April 5, 2017 filed

with the Securities and Exchange Commission (SEC) pursuant to Rule 424(b) of the Securities Act of 1933, as amended, which is

deemed to be part of our Registration Statement on Form S-1 (File No. 333-215244), as well as our other filings with the SEC.

Non-GAAP Financial Measures Reconciliation

This presentation, and certain information that management may discuss in connection with this presentation, references certain

non-GAAP financial measures, including adjusted enterprise revenue (excluding fuel surcharge), adjusted income from operations,

adjusted EBITDA, adjusted net income and adjusted diluted earnings per share. Reconciliations of the non-GAAP financial

measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are in an

appendix to this presentation. Management believes the use of these non-GAAP measures assists investors in understanding our

business as further described below. The non-GAAP information provided is used by our management and may not be

comparable to similar measures disclosed by other companies. The non-GAAP measures used herein have limitations as

analytical tools, and you should not consider them in isolation or as substitutes for analysis of our results as reported under GAAP.

Leading North American Transportation Services Company

3

2016 Adjusted Enterprise

Revenue (xFSC)1

2016 Adjusted Income from

Operations1

Truckload

$2.1bnIntermodal

$0.8bn

Logistics

$0.7bn

Other 2

$0.2bn

Truckload

$221mm

Intermodal

$46mm

Logistics

$31mm

Truckload: Second Largest in North America

Intermodal: One of the Largest in North America

Logistics: Fastest-Growing Segment

$3.8bn $293mm3

Broad Portfolio of Market-Leading Businesses

56%

20%

20%

4%

16%

74%

10%

Founded in 1935 in Green Bay, Wis.

Brand reputation of operational excellence

built on service, trust, and reliability

Industry-leading safety culture and

performance

Comprehensive presence throughout

North America

Portfolio of businesses with different asset

intensities

Only known industry peer of size to have

completed a comprehensive ERP

transformation

Strong balance sheet with access to

capital provides flexibility to pursue

organic and acquisitive growth initiatives

Iconic Orange Brand

Notes:

1 See appendix for reconciliations; adjusted for fuel surcharge

2 Other is net of intersegment eliminations

3 Includes loss of $5mm from other revenue

A Superior Business Built for Sustainable Growth

4

Iconic Large-Scale Transportation Services Provider1

Transformative Technology Driving Profitability Across Segments3

Leadership in First-to-Final Mile4

A Leading Intermodal Business with Built-In Margin Growth5

Fast-Growing Non-Asset Logistics Business6

Diversified Revenue Mix Supporting Resilient Growth Through Cycles2

Well Positioned for Sustainable Growth7

1,757 2,091

3,026

1,356 810

555

3,472

758

319

2,191

779

738

1,382

417

218

166 378

57

$6,007

$3,752 $3,723

$3,573

$1,830

$1,028

$555

Truckload Intermodal Logistics Other

Iconic Large-Scale Diversified Transportation Services Provider

5

Our formula for resiliency: a balanced business mix

2016 Revenue (xFSC) ($mm)

1 2

Scale in all segments

Ability to move freight between modes

Provides more options to drivers, increasing

retention

Provides more options to shippers who want

access to capacity and logistics solutions

Aligned and incentivized salesforce

1 4

Sources: SEC filings, public investor presentations and SNDR management estimates

Notes:

1 Intersegment eliminations allocated across segments pro rata for revenue contribution

2 Fuel surcharge allocated across segments pro rata for revenue contribution and excluded to calculate revenue (excluding fuel surcharge)

3 Other revenue is net of intersegment eliminations

4 Includes fuel surcharge revenue. Peer 3 does not disclose fuel surcharge revenue

3 1 Peer 1 Peer 2 Peer 3 Peer 5 Peer 6Peer 4

2011 2016

38%30%

12%

11%

51%

59%

Change in Customer Concentration 1


Note:

1 Based on adjusted enterprise revenue (excluding fuel surcharge). See appendix for reconciliation

Diversity of Customers and End-Markets Served Supports Stable

Growth Through Business Cycles

6

…that Includes More than 200 of the Fortune 500

…With a Broadening Customer Base…

Consumer Products

Goods 11%

Electronics &

Appliance 6%

Furniture & Floor

Covering

5%

Chemicals

3%

Transportation

3%

Food & Beverage

11%

Auto

7%

General

Merchandise

34%

Construction

4%

Plastics

3%

Paper

4%

Freight Management

9%

2016 Revenue (xFSC) 1

Diverse End-Market Footprint…

#1 – #10 #11 – #20 All Others

Transformation: Digitizing Our Value Chain

7

SUSPECT LEAD PROSPECT QUALIFY QUOTE ORDER EXECUTION BILLING CASH

STATIC CONTRIBUTION DYNAMIC CONTRIBUTION

PREDICTIVE, PREVENTIVE, AND PRESCRIPTIVE ANALYTICS

Driven by “One Version of the Truth”

$250mm technology investment differentiates us and enables optimized decisions that

drive enhanced contribution

Transformation of culture and business process

Feedback loops to enhance performance over time

Significant driver of margin expansion

Turns “order takers” to “profit makers”

INTERNAL &

EXTERNAL

DATA SOURCES

$1,382

$779 $738

$417 $378

$218

$0

$3,472

$2,191

$758

$319 $0 $0 $0

Peer 1 Peer 3

Peer 1

Peer 34 8

8

Significant Scale in Each Core Business …

2016 Truckload Revenue (xFSC)1

2016 Intermodal Revenue (xFSC)1

# of

Trucks2

84,594# of

Containers 2 29,300 17,653 9,131 na na na

17,548 11,722 9,529 7,100 4,706 na na

Revenue (xFSC) ($mm)1


4 5

2016 Logistics Revenue (xFSC)1

6 7


2016 Operating Revenue (xFSC)1

$6,007

$3,752 $3,723 $3,573

$1,830

$1,028

$555

6

4 5

Operating Revenue (xFSC) ($mm)1

6

3

4 5


Notes:

1 Revenue excludes fuel surcharge

2 Represents FY 2016 year end equipment count, Peer 5 and SNDR represent average FY 2016 equipment count

3 Represents adjusted enterprise revenue (excluding fuel surcharge) and net of intersegment eliminations. See appendix

for reconciliation

4 Intersegment eliminations allocated across segments pro rata for revenue contribution

5 Fuel surcharge allocated across segments pro rata for revenue contribution and excluded to

calculate revenue (excluding fuel surcharge)

6 Includes fuel surcharge. Peer 3 does not disclose fuel surcharge revenue

7 Represents truck brokerage and logistics operations

8 Represents non-reportable segment, which includes the Company's logistics and freight

brokerage services, as well as support services

4

4

4

4 4Peer 1

Peer 1

Peer 4

Peer 4

Peer 4

Peer 4

Peer 5

Peer 5

Peer 5

Peer 5

Peer 6 Peer 6

Peer 6Peer 6Peer 6 Peer 3

Peer 2

Peer 2

Peer 2

Peer 2

$3,026

$2,091

$1,757

$1,356

$810$555

$0

… With Broadest Portfolio of Service Offerings in North America

BULK

• Long-Haul

• Regional /

Short-Haul

• Chemical

• Energy

• Expedited

COMPREHENSIVE PORTFOLIO OF SERVICE OFFERINGS

BROKERAGE

• Full

Truckload

• LTL

• Intermodal

• Temperature

Control

• Flatbed

• Sole-Source

SUPPLY CHAIN SERVICES (3PL)

• Supply Chain

Management

• Supply Chain

Design

• Supplier

Management

• Procurement

• Cross Border

IMPORT / EXPORT SERVICES

• Ware-

housing

• Port

Drayage

• Trans-

loading

DOOR-TO-DOOR

CONTAINER ON

FLAT CAR (COFC)

LONG-HAUL

REGIONAL

NORTH AMERICAN

CROSS-BORDER

LOGISTICSINTERMODAL

NORTH AMERICAN CROSS-BORDER / INTERNATIONAL FREIGHT:

SP

EC

IA

LT

Y

DRY VAN

TRUCKLOAD

FOR HIRE DEDICATED

OTHER SPECIALTY

• Specialty Van

• Flatbed

• Multi-Stop

• Cross-Dock

• Long-Haul

• Regional /

Short-Haul

• Expedited

ST

AN

DA

RD

FINAL MILE+ /

E-COMMERCE

• White Glove

• Expedited

• Threshold

TEMPERATURE CONTROL

• Reefer • Freeze

Protection

9

10Sources: Management estimates based on SEC filings and public investor presentations

First Mile

Vertical Coverage

Geographic Coverage

Technology

Claims

Last Mile

Leader in E-Commerce Driven First-to-Final Mile

No Offering Comprehensive Offering

Schneider's portfolio of services virtually eliminates problems like dropped handoffs and high claims

INTEGRATED

PHYSICAL MOVES

CLAIMS-FREE

SERVICE

REVERSE

LOGISTICS

END-TO-END

VISIBILITY

INCREASING DEMANDPORT TO DOOR WITH

“WHITE GLOVE” SERVICEEND-TO-END VISIBILITY

BUY NOW

SIMPLEXConsumer Order

Tracking

Vendor and Customer

Communication

Inventory Control

Reverse Logistics

PORT TRANSLOAD

DISTRIBUTION

CENTER

HOME

DELIVERY

STOREOVER THE ROAD /

INTERMODAL

PORT DRAY

Differentiated Offering From First to Final Mile

Focus on First-to-Final Mile for difficult-to-handle products

Delivering As Promised in a Multi-Channel World

Peer 8Peer 7 Peer 1 Peer 4 Peer 2 Peer 5 Peer 6

https://schneider.com/

11

Premium Intermodal Segment with Upside Potential

Strong track record of growth and profitability with a clear path to margin expansion

through transition to chassis ownership model

Balanced National Network with

Strong Eastern CoreAsset-Based Operations with Significant Scale

Chicago

SeattleSt. Paul

Green Bay

Richland

Jacksonville

Savannah

AtlantaCharlotte

Greensboro

Marion

Montreal

Toronto

Syracuse

WorcesterChambersburg

Philadelphia

Portsmouth

Little Ferry/North Jersey

Calgary

Edmonton

Reno

Otay

Los Angeles

Phoenix

Denver

Louisville

Cincinnati

Miami

Boston

Laredo

Mexico City

Monterrey

San Luis Potosi

Minneapolis

Milwaukee

St. Louis

Memphis

Jackson

Orlando

Kansas City

Houston

Dallas

Stockton

San Bernardino

North Baltimore

Baltimore

Portland

Schneider Driver Location

Rail Ramp Location

Schneider Driver and

Field Dispatch Location

Rail Ramp Location

BNSF

CSX

KCS/KCSM

CN

FEC

NS

Strong East

Coast Offering

Concentrate spend around two primary railroads

(BNSF - West and CSX - East) to driver operational

excellence and high levels of collaboration

Door to door truck-like experience with company

dray drivers and owned containers / chassis

In 2017 - leased to owned chassis conversion:

lowering chassis cost by ~55%

Economies of scale are key in Intermodal (only

three relevant and profitable Intermodal providers)

Significant growth opportunity: < 50% penetration

of the addressable market, particularly in the East

where the largest competitor does not enjoy a

structural advantage

~20% of Schneider’s adjusted enterprise

revenue (excluding fuel surcharge)

Managed approximately $2bn in

transportation spend and leveraged nearly

23,000 carriers in 2016

Significant cross-selling opportunity

― Serves a large portion of the entire

Schneider portfolio

Growth strategy capitalizes on expertise in:

― Decision support technologies

― Collaborative solutions with assets

Fast Growing Logistics Offering Complementing Our

Asset-Based Network

12

2013 2014 2015 2016

$467

$588

$639

$738

Revenue (xFSC) ($mm)

Brokerage

~

Supply Chain Services (3PL)

~

Import / Export Services

Generated ~$147mm in revenue in 2016 for our

Truckload and Intermodal segments

High return business with little incremental capital

Financial Highlights

14

Operational Excellence Translated into Financial Performance

Note:

1 See appendix for reconciliations

Key Takeaways from 2Q17

REVENUE REVENUE (xFSC)

Operating

Income (adj.)

Net Income (adj.)

EBITDA

$916.29 $1,006.44

$22.57

$111.42$0.14

Metric 1 2Q17 1H17

Operating

Revenues$1,075 $2,082

Revenue (xFSC) $983 $1,899

Adjusted Income

from Operations$68 $113

Adjusted Net

Income$40 $63

Adjusted Diluted

EPS$0.23 $0.38

Adjusted

EBITDA$136 $249

2Q17 / 1H17 Results (values in $mm except EPS)

Enterprise revenue (xFSC) growth 6.5% for Q2;

5.8% for 1H17; all segments grew in 2Q and 1H17

year over year

Truckload revenue per truck per week increased

2.9% for 2Q and Intermodal orders increased 10.6%

for 2Q year over year

Weak market conditions, inflationary driver costs,

and reduced gain on sale of used equipment

translated into reduced earnings against 'tough

comps'

Market conditions improved in the second quarter in

excess of seasonal trends; market improvement

combined with the impact of ELD regulations is

expected to favorably impact 2H17

Strong cash position and balance sheet

Continue to diversify end-markets and services

Transition to Intermodal 'owned chassis' model on

track for December 2017 completion

Note:

1 See appendix for reconciliations

2013 2014 2015 2016

$3,004$3,334

$3,588$3,752

Adjusted Net Income1

Adjusted EBITDA1Adjusted Enterprise Revenue (xFSC)1

2013 2014 2015 2016

$387

$474$529

$559

2013 2014 2015 2016

$97

$136

$163 $158

($mm) ($mm)

($mm)

15

Consistent Track Record of Strong Financial Performance…

Adjusted Income from Operations1

2013 2014 2015 2016

$174

$244

$293 $293

($mm)

+6%

Revenue

(xFSC)

CAGR

+270bps

Operating

Margin

Change

+4%

Revenue

(xFSC)

CAGR

+16bps

Operating

Margin

Change

+16%

Revenue

(xFSC)

CAGR

+126bps

Operating

Margin

Change

Revenue (xFSC) & Adjusted EBITDA Margin1 2013 – 2016 Results

($mm)

Notes:

1 Adjusted EBITDA margin is segment earnings plus segment depreciation & amortization divided by segment revenue (excluding fuel surcharge)

2 Operating margin is segment earnings divided by segment revenue (excluding fuel surcharge)

… Driven by Growth and Margin Expansion in Each Segment

2013 2014 2015 2016

$665$723

$790 $758

Operating Margin2 : 5.9% 5.7% 7.4% 6.1%

Intermodal


2013 2014 2015 2016

$467

$588$639

$738

Logistics

2013 2014 2015 2016

$1,744$1,862

$1,977 $2,091

Truckload


16

9.6%10.2%

12.2%

10.2%

5%

7%

9%

11%

13%

15%

17%

19%

3.1% 3.2%

4.1% 4.2%

16.5%

19.4% 19.1% 19.8%

10%

15%

20%

25%

30%

Outperformance vs. Peer Group Through Economic Cycles

17

2011 – 2016 Operating Ratio Improvement (bps)12011 – 2016 Income from Operations CAGR

0% 1% (17%) 6% (35%) (37%)

'15–'16

Change

(%)(35) 23 (209) (97) (328) (266)

'15–'16

Change

(bps)(27%) (400)

(10)

(5)

0

5

10

15

20

16

10

8

6

(4)

(6)(6)

2

(1,000)

(800)

(600)

(400)

(200)

0

200

400

289

75 34

(8)

(355)(413)

(989)

2

(%)

(bps)

Sources: SEC filings and public investor presentations

Notes:

1 Calculated using revenue (excluding fuel surcharge)

2 Represents adjusted income from operations. See appendix for reconciliations

Peer 4 Peer 4Peer 1 Peer 1Peer 5 Peer 5Peer 3 Peer 3Peer 6 Peer 6Peer 2 Peer 2

Non-GAAP Reconciliations

Non-GAAP Reconciliation – Adjusted Enterprise Revenue

(excluding fuel surcharge)

($mm) 2013 2014 2015 2016 2Q17 1H17

Operating revenues 3,624 3,941 3,959 4,046 1,075 2,082

less: Fuel surcharge revenue 620 607 371 294 92 183

Adjusted enterprise revenue (excluding fuel

surcharge)3,004 3,334 3,588 3,752 983 1,899

19

Non-GAAP Reconciliation – Adjusted Income from Operations

($mm) 2013 2014 2015 2016 2Q17 1H17

Income from operations 171 239 260 290 79 123

Litigation 1 10 5 27 – – –

Goodwill impairment 2 – – 6 – – –

Duplicate chassis costs 3 – – – – 2 3

Change in vacation policy 4 (7) – – – – –

Acquisition cost and other 5 – – – 3 – –

WSL contingent consideration adjustment 6 – – – – (13) (13)

Adjusted income from operations 174 244 293 293 68 113

20

Notes:

1 Costs associated with certain lawsuits challenging compliance with aspects of the Fair Labor Standards Act (FLSA)

2 As a result of our annual goodwill impairment test as of December 31, 2015, we took an impairment charge for our Asia reporting unit

3 By the end of 2017, the Company expects Intermodal to have completed its migration to an owned chassis model, which requires the replacement of rented chassis with owned chassis. The existing lease

requirements do not expire until December 31, 2017. Accordingly, the Company is adjusting its income from operations for rental costs related to idle chassis as rented units are replaced

4 Reflects a change to our vacation policy in 2013 in which the award of vacation days changed from being based on a vesting plan to an annual granting plan, resulting in a one-time benefit to income from

operations

5 Costs related to the acquisitions of Watkins & Shepard and Lodeso and one-time preparation costs in connection with the IPO and initiating the transition from privately held to public company status

6 Related to a change in the fair value of a contingent liability, which reflected three year growth targets established by the sell prior to the close of the WSL acquisition

Non-GAAP Reconciliation – Adjusted Net Income

($mm) 2013 2014 2015 2016 2Q17 1H17

Net income 95 134 141 157 46 69

Litigation 1 10 5 27 – – –

Goodwill impairment 2 – – 6 – – –


Change in vacation policy 4 (7) – – – – –

Acquisition cost and other 5 – – – 3 – –

WSL contingent consideration adjustment 6 – – –

–(13) (13)

Income tax adjustment 7 (1) (2) (11) (1) 5 4

Adjusted net income 97 136 163 158 40 63

21

Notes:






operations


6 Related to a change in the fair value of a contingent liability, which reflected three year growth targets established by the sell prior to the close of the WSL acquisition

7 Income tax adjustment is based on determining the tax effect of each individual item presented in the table

Non-GAAP Reconciliation – Adjusted EBITDA

($mm) 2013 2014 2015 2016 2Q17 YTD

Net Income 95 134 141 157 46 69

Provision for income taxes 61 92 98 109 28 43

Interest expense 14 12 19 21 5 10

Depreciation & amortization 213 230 236 266 68 137

Other non-operating expenses 1 2 3 3–

–

Litigation 1 10 5 27 ––

–

Goodwill impairment 2 – – 6 ––

–


Change in vacation policy 4 (7) – – ––

–

Acquisition cost and other 5 – – – 3–

–

WSL contingent consideration adjustment 6 – – – –(13) (13)

Adjusted EBITDA 387 474 529 559 136 249

Notes:






operations


6 Related to a change in the fair value of a contingent liability, which reflected three year growth targets established by the sell prior to the close of the WSL acquisition 22

Non-GAAP Reconciliation – Adjusted Diluted Earnings per Share

2Q17 1H17

Diluted earnings per share $0.27 $0.42

Non-GAAP adjustments, tax effected (0.04) (0.04)

Adjusted diluted earnings per share $0.23 $0.38

23

Documents

August 2017 - s21.q4cdn.com Leadership in First-to-Final Mile 5 A Leading Intermodal Business with Built-In Margin Growth ... 7 Represents truck brokerage and logistics operations