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April 9, 2019

David ArsenaultChief Strategy Officer

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Company Overviews

Intermodal Equipment Provider (IEP) Founded 2009 Headquarters in Charlotte, NC Largest Chassis Owner & Management Co

• 235,000+ Chassis • Marine & Domestic• Specialty Equipment• Daily Use & Lease Options

Nationwide Coverage in all Major Markets Upgraded Equipment Fleet Team of Leading Industry Experts World Class Digital Technology

Disclaimer: This presentation material and accompanying comments are those of the presenter and not necessarily indicative of the views of either employer.

Technology Company Founded in 1994

• Formerly REZ-1 – Domestic• Formerly IAS – International

Headquarters in Pleasanton, CA Digital Supply Chain Platform

• 100 Countries • 21 Languages • 53’ US Domestic Rail Assets• 7000+ Motor Carriers• 1100+ Terminals & Depots

Order to Settlement Applications (Asset, Logistics, Visibility, Optimization, Finance)

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2019 Key Industry Challenges

US PRC - Trade Negotiations 25% PRC Tariff Threat 1/1/19 Inventory Pull Forward – Altered Trade Flows 34 Extra Loaders in Q4 2018 Global Trade Growth Slowing vs. Trade Deals YoY Figures Distorted Future Hedges of Trade Deal?

US Mexico - Trade Negotiations Tightening Border Inspections Inventory Pull Forward – Border Delays Volatility & Uncertainty

Emerging Trends Weak Q1 2019 Volumes => TPS EB Contracts Unfavorable Environment for Ocean Carriers Irrational Supply Chain Behavior How to Forecast & Prepare?

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2019 Key Industry Challenges

Emerging Trends Alliance vs. Niche Players – Recover Lost Share Full Service Logistics vs. Basic Ocean Service Larger Vessels – Hub & Spoke Deployments On Time Performance Degradation – Slow Steaming Further Consolidation – Next Hanjin?

Source: AlphalinerOcean Carrier Financials Capacity

Rank Ocean Carrier 2018 Results

Net Profit# of Operated

Vessels Operated

Capacity (TEUs) 1 MAERSK N/A 713 4,090,2062 MSC N/A 533 3,358,4323 COSCO $251 M 467 2,804,8824 CMA CGM $34 M 511 2,658,5025 HAPAG-LLOYD $52 M 236 1,671,2346 ONE ($600 M) 217 1,533,2397 EVERGREEN $10 M 201 1,236,6868 YANG MING ($219 M) 101 682,3189 HMM ($451 M) 75 436,768

10 PIL N/A 123 417,79311 ZIM ($126 M) 64 315,48012 WAN HAI $3 M 95 248,890

Consistent Unhealthy Financial Results 2010 & 2017 Only Good Years this Decade

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2019 Key Industry ChallengesIMO 2020 Low Sulphur Fuel Regulations

1/1/2020 Effective – 2019 Cost Impact Begins How to Comply? (LSF, Scrubbers, LNG)

LSF - Doubles the Cost of Fuel (Est. $15 Bil/yr Impact) Scrubbers – Capital Cost, Wait List (Est. $4-$10 Mil/vsl)

No Industry Standard (TSA) or Fleet Standard Ability to Negotiate Cost Recovery in Contracts? Service Impacts if Unable to Recover Costs? Secondary Impact on Diesel Fuel – Truck Costs? Availability of LSF => Spike in Demand?

Scrubbers – Open & Closed Loop(CAPEX & Disposal)

Est. 15% Fleet Solution

Est. 500K MT Consumed / Day3.5 Mil Barrels / DayCost of $215 M / Day

$430 / MT

$615 / MT+43%

Cost ? Availability?

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2019 Key Industry Challenges

Emerging Trends Larger Vessel Cargo Density - Positive Impact On-Dock Rail - Increased Complexity Alliance Partner Rail Contracts => Limit Co-Load Inland Schedule/Transit Variability=> Transload Supply Chain Uncertainty => Dwell (not transit)

Precision Scheduled Railroading (PSR) Longer Trains/Increased Density/Less Frequency Point to Point Schedules – Less Hub & Spoke Higher Speeds – Improved Asset Utilization Success with Canadian Railroads-Hunter Harrison Jury Still out with Customers in the U.S. Market

CSX Implemented in ’17 – Bumpy Start UP/NS/KCS – Recently Started Weather Impacts in Q1 ‘19 – Too early to tell

Precision Railroading–Pos & Neg Service Impacts

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2019 Key Industry Challenges

Motor Carrier Shortages Persist 2018 ELD Mandate & HoS Enforcement Resulted in Driver Shortages & Delays Sellers Market Driving Cost Increases Storage Costs Escalating – Rail & Terminal PierPASS 2.0 Impact on Cargo Flows?

Emerging Trends MC Market Tight – New Normal How to Become a Preferred Customer to MC? 1/1/2020 National Drug & Alcohol Driver Database

Becomes Part of Drivers Permanent Record Potential Further Driver Shortages

Potential Flexibility with HoS Rules – DOT Review IMO LSF Mandate Impact on Diesel Prices

Increased Fuel Surcharges & Volatility

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2019 Key Industry Challenges

Environmental Stewardship CAAP 3.0 – Approved (LA/LB) Zero & Near Zero Emissions Technology ($) Maintain Growth & Competitiveness?

Intermodal Equipment Providers (IEP) Increased Strategic Role & Importance Smart Chassis – Value Proposition 1st & Last Mile Innovation - Predictive Analytics – Forecasting Increased Dwell & Chassis Dislocation Impact

Human Capital Carrier Consolidation - Displacement of Talent Challenges Attracting New Talent to Industry Developing Higher Tech Skill Sets-Automation Waterfront Labor – Automation Accelerates

• ILWU – Contract Extension thru 7/1/2022– Pier 400 Automation Challenges

• ILA – Contract Extension thru 9/30/2024

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2019 Key Industry Challenges

Digitization & Technology - Innovation Amazon Effect - Changing Customer Expectations

• B to C Initial Focus => B to B Next Level Opportunity Stakeholders Unable to Meet Service Requirements

• Earnings Pressure vs. Customer Demand• Build vs. Buy - Limited Internal Resources• Technology Moving Faster than Able to Keep up

AI / ML / RPA / Big Data & Predictive Analytics• Transforming Supply Chain Planning & Execution• Improving Data Quality • Reducing Data Latency

Market Noise vs. Reality • Many New Unproven Niche Players with Partial Solutions• Few Established with full Order to Settlement Functionality • Increased Upstream Integration = Downstream Benefits

Increased Transparency • Optimize Each Link in the Supply Chain • Improve End to End Supply Chain Efficiency

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Q & A

Thank You

April 9, 2019

David ArsenaultChief Strategy Officer