2018 Transportation & Logistics Conference

February 13, 2018

2

Disclosure Statement

This presentation includes forward-looking statements, withinthe meaning of the Private Securities Litigation Reform Act of1995. These statements are based on Werner Enterprises’current plans, and are not guarantees of future performance.They are subject to risk and uncertainties, that could causeactual results, and company plans and objectives, to differmaterially from those expressed in the forward-lookingstatements. Such risks and uncertainties are discussed in theCompany’s Annual Report, on Form 10-K, filed with the SEC.

3

Premium Truckload Transportation and Logistics Services Provider

2017 Revenues: $2.1 B

2017 Net Income: $92 M**

Trucks*: 7,480Trailers*: 24,500

NASDAQ: WERN

Market Cap: $2.8 B

Avg Daily Trading Volume (3 mo. 12/17): 844 K

*2017 EOP (trucking/logistics)**Before non-cash income tax benefit of $111 million due to net deferred income tax liability reduction in 4Q17 due to the Tax Act.

4

5

Revenue Sources

44%48% 49%

28% 29% 27%

13% 11% 13%15% 12%11%

0%10%20%30%40%50%60%

2015 2016 2017

Retail/CPGrocery ProductsManuf./IndustrialLogistics/Other

(A)

% o

f Rev

enue

s*%

of R

even

ues

Vertical:

Customers:

27% 27% 29%

45% 43% 43%

63% 61% 61%

76% 74% 75%

0%

20%

40%

60%

80%

100%

2015 2016 2017

Top 5Top 10Top 25Top 50

* Top 50 customers

(A) Growth from 2015 to 2016 due to additional Dedicated retail and e-commerce

6

Domestic Freight Market: Market Share & Growth Opportunities

Truckload349.636%

LTL40.54%

Private Truck332.134%

Rail Carload55.16%

Rail Intermodal18.32%

Water11.21%

Pipeline54.56%

Air Express28.03%

Ground Parcel79.58%

U.S. Freight Transportation Market______________________________

($969 Billion)

* Sources: ATA and Stifel Nicolaus estimates

Werner 2017 Revenues______________________________

($2.1 Billion)

7

Freight Market Update

8

Comprehensive Solutions – Customer Focused

Freight Management Freight Movement Technological AdvantagesGlobal Implementation

This is where it all begins.Werner provides

complete 3PL supply chain solutions across all

shipping modes and geographies, from

network design through implementation.

TransportationSolutions.

With an asset-backed network of nearly 7,500 One-

Way Truckload, Dedicated, Cross-Border and Logistics

trucks, over 16,000 alliance carriers and ocean, air and

rail companies, Werner provides unsurpassed

delivery solutions worldwide.

Online and real-time, all

the time.Sophisticated technology

tools provide our customers instant

visibility across their supply chain, which

enables them to better manage their business.

We speakthe language.

Providing door-to-door services for companies of all sizes and industries as they compete in today’s global marketplace, sets

us apart from our competition.

9

Supply - Capacity

Including owner

operators, capacity at public fleets

is 10% below peak 3Q06 levels

Note: Source – Key Banc. Includes CGI, CVTI, JBHT, KNX (including SWFT), MRTN, USAK, and WERN (excluding acquisitions, if applicable).

Public Truckload Fleet Capacity

30,000

35,000

40,000

45,000

50,000

55,000

60,000

1Q04

2Q04

3Q04

4Q04

1Q05

2Q05

3Q05

4Q05

1Q06

2Q06

3Q06

4Q06

1Q07

2Q07

3Q07

4Q07

1Q08

2Q08

3Q08

4Q08

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

1Q11

2Q11

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14

1Q15

2Q15

3Q15

4Q15

1Q16

2Q16

3Q16

4Q16

1Q17

2Q17

3Q17

4Q17

10

Truck Age – Werner vs. Industry

0

1

2

3

4

5

6

7

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

Truc

k A

ge

Truck Age - Werner Truck Age - Industry

Source for Industry Data – ACT Research (Y/E data)

WERN Trucking Segment Avg. Oper. MarginTruck Age < 2 Years – 1990-2006 9.7%Truck Age > 2 Years – 2007-2015 8.0%

WERN 1.9 avg. truck age – 12/31/17

11

Supply – Industry Driver Shortage, Truck Driver Demographics

0%

5%

10%

15%

20%

25%

30%

35%

20-24Years

25-34Years

35-44Years

45-54Years

55-64Years

65+ Years

% o

f Tot

al

Werner January 2018 All Industries 2013 Trucking Industry 2013

0%

5%

10%

15%

20%

25%

30%

35%

20-24Years

25-34Years

35-44Years

45-54Years

55-64Years

65+ Years

% o

f Tot

al

1994 2003 2013

% of drivers: 45+ yrs1994 – 31%2013 – 56%

AGING TRUCK DRIVER DEMOGRAPHICSDISTRIBUTION OF EMPLOYEES BY AGE GROUP

THE AGING TRUCK DRIVER 1994, 2003 & 2013

WERNER DRIVER DEMOGRAPHICS COMPARED TO ALL INDUSTRIES AND TRUCKING INDUSTRY

Source: ATRI, 2013 BLS Census For Industry Data

12

Werner Driver Recruiting/Retention Advantages

Truck driving difficult

Declining unemployment rate

Aging driver demographics

December 2017 ELD mandate

New fleet: $1B gross Cap Ex investment during 2015/2016 including new trucks with AMT’s and CM’s

15% driver pay increase: 2015 to 2017, Top 50 former military employer

Largest truck driver training school network (13 locations)

20 years of Werner ELD experience

13

Cash Flow and Cap Ex

$0$25$50$75

$100$125$150$175$200$225$250$275$300$325$350$375$400$425$450$475$500

Mill

ions

of D

olla

rs

Cash Flow from Operations Cap Ex, Net

$350 M

$300 M

14

6,500

6,750

7,000

7,250

7,500

7,750

8,000

8,250

8,500

8,750

1.2

1.4

1.6

1.8

2.0

2.2

2.4

2.6

2.8

Aver

age

Truc

ks in

Ser

vice

Aver

age

Truc

k Ag

e (Y

/E o

r Q/E

)

Average Truck Age (Y/E or Q/E) Average Trucks in Service

Truck Fleet Staying New, Fleet Growth During 2017

15

Improving Rate and Utilization Metrics (Last 12 Quarters)

-10%-8%-6%-4%-2%0%2%4%6%8%

10%

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17

MPT

% C

HG

YO

Y

MPT – Miles Per Truck

-10%-8%-6%-4%-2%0%2%4%6%8%

10%

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17

RPTM

% C

HG

YO

Y

RPTM – Revenue Per Total Mile

-10%-8%-6%-4%-2%0%2%4%6%8%

10%

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17

RPTPW

% C

HG

YO

Y

-10%-8%-6%-4%-2%0%2%4%6%8%

10% 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17

Empty Miles Per Trip

% C

HG

YO

Y

RPTPW – Revenue Per Truck Per Week

16

Trucking Operating Margin Declined Mid-2016; Margin Recovery in Process

-750-700-650-600-550-500-450-400-350-300-250-200-150-100

-500

50100150200250300350400450

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14

1Q15

2Q15

3Q15

4Q15

1Q16

2Q16

3Q16

4Q16

1Q17

2Q17

3Q17

4Q17

TL/D

edic

ated

OI %

of R

even

ues

YOY

Chan

ge in

Bas

is P

oint

s (BP

)

YOY Change in Basis Points (BP) TL/Dedicated OI % of Revenues3Q15 – excludes two nonrecurring expense items totaling $3.9 million.

17

Profitability Trends; Decline Primarily Cyclical, not Secular; WERN more Contract Business than

Transactional; Being Repriced

$0

$1

$2

$3

$4

$5

$6

$7

$8

Ope

ratin

g In

com

e (a

s a

% o

f Rev

enue

s)

Ope

ratin

g In

com

e (m

illio

ns o

f $)

OI (Millions of $) OI (as a % of Revenues)

BrokerageFreight ManagementIntermodalGlobal LogisticsFinal Mile

18

Total Company Operating Margin and EPS Trends (A)O

P IN

C -%

OF

REVE

NU

ES

(A) Total Company (Trucking and Logistics)(B) 3Q15 - excludes 3 cents/share for two nonrecurring expense items.(C) 2Q16 – excludes 3 cents/share for nonrecurring real estate gain.(D) 3Q16 – excludes 5 cents/share for nonrecurring real estate gain.(E) 4Q17 – excludes $1.52/share for non-cash income tax benefit due to the net deferred income tax liability reduction due to the Tax Act.

23456789

101112

1Q 2Q 3Q 4Q2014 2015 2016 2017

$0.20

$0.32 $0.28

$0.22

$0.35

$0.44

$0.32 $0.36

$0.47(B)

$0.31

$0.45 $0.51

$0.30

$0.42(E)

$- $0.05 $0.10 $0.15 $0.20 $0.25 $0.30 $0.35 $0.40 $0.45 $0.50 $0.55

$0.22(C)

$0.21(D)

19

EPS Trends

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

$1.40

$1.60

$1.80

$2.00

$0.13 $0.17

$0.22 $0.22 $0.25

$0.27 $0.34 $0.41

$0.46 $0.46 $0.51

$0.61

$0.72 $0.76

$0.61 $0.60

$0.76

$0.90

$1.08

$1.22 $1.25

$1.02

$0.94

$0.79

$1.10

$1.40 $1.40

$1.18

$1.36

$1.71

$1.09

$1.27 (A)

(A) Excludes $1.52/share for the non-cash income tax benefit due to the net deferred income tax liability reduction due to the Tax Act.

20

WERN Truckload* Operating Margin

9.0% 8.7%

6.8%

5.0%5.9%

7.9%9.3% 9.0%

7.2%

9.0%

11.5%

7.0%8.4%

11.0%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 STTarget

* Truckload Transportation Services (includes One-Way TL and Dedicated). Above percentages include fuel (fuel surcharge revenues and fuel expense).

21(A) Net income used for ROE and ROA excludes the non-cash income tax benefit of $111 million for the net deferred income tax liability reduction in 4Q17 due to the Tax Act.

11.3%8.8% 8.1% 7.5%

11.1%

14.5% 13.6%11.7% 12.4%

14.1%

8.2% 9.0%

15.0%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017(A)

STTarget

6.9%5.4% 5.2% 4.6%

6.6%8.4% 7.7%

6.5% 7.0% 8.0%

4.7% 5.3%

9.0%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017(A)

STTarget

ROE

ROA

22

TRUCKS TERMINALSTECHNOLOGYTRAILERS TALENT

Newer trucks with enhanced

safety and training features

Upgrading facilities

Driven byInnovation

Newer trailers with

new branding/GPS tracking

Award-WinningCustomer

Service

THIS IS WERNER

A RENEWED FOCUS ON QUALITY