P E O P L E • T E C H N O L O G Y • R E S U L T S

Echo Global Logistics

February 2020

Investor Presentation

Echo Global Logistics

Leading provider of technology-enabled transportation and supply chain management solutions

Proprietary technology platform linking over 35,000 clients with a network of over 50,000 carriers

• Transportation cost savings

• Access to extensive transportation network

• Centralized system to meet all transportation needs

• Dedicated account teams provide superior client

service

• Web-based applications address entire shipment

order and delivery process

• Aligns demand with network capacity

• Increases utilization of assets

• Optimizes open lanes and backhauls

• Lower client service costs

• Shortens billing cycle, improving working capital

Value Proposition to Shippers Value Proposition to Carriers

One of the largest growing 3PLs with TTM gross revenue of $2.2Bn

2

Unique Logistics Platform

Differentiated Relationship-driven

Customer and Carrier Network

Proprietary Technology that Optimizes Brokerage

Value Proposition

Stability and Consistencythrough Freight

and Business Cycles

Track Record of Significant Growth

Projected to Continue

Strong Culture and Management Team

1 2

3 4

5 6

Favorable Long-term Industry Fundamentals

Echo’s Key Attributes and Highlights

3

Broad Cross-Country Employee Network

Critical Component of Value Proposition for Shippers

Service MarketTransportation

SpendTL

Partial

TLLTL Intermodal Expedited

Domestic

AirInternat’l

Small

Parcel

Transactional

(Brokerage)

SMB$25K –

$50MM

National$50MM –

$2Bn+

Managed

Transportation

(Enterprise)

SMB$500K –

$10MM

National$10MM –

$200MM

Indicates primary market

need, offered by Echo

Indicates secondary market

need, offered by Echo

Echo at a Glance

Detroit,MI Chicago,IL

Bend,OR Boston,MA Green Bay,WI

Jacksonville,FL

Denver,CO

Minneapolis,MN

Houston,TX

Yorba Linda,CA

Rochester,NY

Sacramento,CA

Watsonville,CA

San Ramon,CA

Clearwater,FL

Albany,IN

Long Beach,CA

Sandy,UTLockport,IL

Dallas,TX

Kansas City,KS St. Louis,MO

Atlanta,GA

Nashville,TN

Park City,UT

Scottsdale,AZ

Port Sanilac, MI

4

Pittsburgh, PA

• Industry and market share leader, a one-stop-shop for shippers

• Robust pricing engine capable of managing and simplifying

complex pricing structures across multiple carriers and shippers

• Multi-channel automation

• Data capture and analytics tools to optimize pricing and

carrier selection

• Efficient back office integration to manage billing and

payments on high volume, transaction based systems

Product OfferingsDiverse Multimodal Portfolio

Truckload Brokerage

• Differentiated model to efficiently aggregate capacity in

fragmented market

• Centralized, role-based execution

• Highly scalable matching capability

• Quick access to market information

• Highly automated leveraging internal and external data

• Smaller carriers increasingly interested in doing business with

brokers

1. Fleet size available for 86% of loads as of Q4 2019

TL Carrier Profile by Fleet Size (# of trucks) (1)

LTL Brokerage Managed Transportation

• Managed service offering leverages transportation

experts with robust TMS technology

• Ability to drive measureable savings by utilizing Echo’s

multi-modal capabilities

• Highly efficient execution with multiple automation points

for both shippers and carriers

• Moving up market with fee based services

• Strong procurement capability across all modes of

transportation5

< 10 20%

10-50 27%

50-100 13%

100-500 18%

>500 22%

< 10 10 - 50 50 - 100 100 - 500 > 500

6

7 33 95

203 260

426

603

758

884

1,173

1,512

1,716

1,943

2,440

2,185

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Building on a Strong

Track Record of Growth

2009

Echo IPO

2006

Doug Waggoner joins

Echo from USF

Bestway

2005

Echo founded

2005 – 2019

Gross Revenue CAGR

51%

Gross Revenue ($MM)

2014

Echo exceeds $1Bn

in gross revenue

2018

Revenue Exceeds $2.4B

2015

Echo acquires Command

Transportation

Industry Leading Technology Platform

Pricing EnginesAnalytics

Client Facing

Portal

• Proprietary technology designed in-house by

engineering and transportation experts

• Integrated across multiple modes

• Aggregates supply and demand

• Analytics optimized marketplace

• Robust internal and external reporting

Echo Technology Platform

Digital Freight

Matching

Carrier Facing

Portals

Artificial

Intelligence

Visibility Reporting

Echo’s Culture Attracts Top Talent

The Echo Way – Our Core Values

Bring Your Own Do What’s Right Better Is the Only Option

Carry the Load Together Work Hard and Hustle

“The Hub”Learning

Management

System: Live

stream

meetings,

social groups,

knowledge

banks

Echo Engage

Recognition, sentiment

polling, achievements,

performance and career

discussions, real-time

feedback, goals

Echo News Network Intranet streamlining

communication with

real-time updates and

business collaboration

tools

Virtual MeetupsLive streaming

and video chats

Applicant Tracking Promoting internal

movement,

improve hiring

manager

experience and

candidate selection

effectiveness

Award-Winning Culture Connected Workforce

Employees

8

324

2,539

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

104 114 119 127

107 127 134 142 146

157 161 167 184

214

0

75

150

225

300

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Echo outperformed through financial crisis ($MM)

Attractive Market

Gross Revenue ($Bn)The US 3PL market has grown meaningfully

from $104 billion in 2005 to $214 billion for 2018

Growing US 3PL Market

$203$260

$426

Source Armstrong & Associates Research

Carrier Market (Trucks/Trucking Companies)

‒ Approximately 3 million drivers in U.S., ~80% work for company with <10 trucks

‒ Top 10 truckload (TL) carriers represent 5% of U.S. market

‒ Shortage of drivers makes Echo’s network of carriers more valuable

Brokerage Market

‒ Only a handful of players of meaningful scale

‒ Industry customer service levels improving, but there is large opportunity to differentiate for companies that execute effectively

‒ Remains highly fragmented with hundreds of small brokers

Significant

Brokerage

Opportunity

Sources: Armstrong & Associates, Inc; U.S. Department of Transportation

Highly Fragmented North American Broker and Carrier Market

9

Multiple Growth Drivers

Grow and Enhance

Sales Force

Productivity and

Sales Offering

Placeholder for EPS 2

• Growth of sales force and improvement in average tenure

• Technology enhancements drive efficient productivity gains

• Evolution of managed transportation business to reach larger accounts

• LTL SEO automated selling

Productivity vs Tenure

Capitalize on

Attractive Market

Conditions

• Rising prices and volatility often increase spot market opportunities

• Access to capacity and data analytics provide strategic value in dynamic

freight markets

• Potential for a tighter truckload market in the near future

Leverage TL Scale

and Technology

• Advanced matching and pricing technologies

• Superior access to capacity

• Client centric, and carrier’s first choice

1

4

3

10

Continue

Acquisitions

• Growth from future acquisitions

• Brokerage market is highly fragmented with hundreds of smaller players

• Echo has completed 21 acquisitions in 14 years

Placeholder for EPS 2

2

Months

Sales Force MaturityDriving Productivity Gains

Sales Tenure (Months) (1)Months

• Tenure is lengthening

• Increasing share of wallet

• Expanding truckload national accounts

Client Rep Productivity by Months of

Tenure (2) (3)

Gross Profit (000s)

Highlights

Notes

1. Headcount includes both client and carrier-facing sales representatives. Tenure shown is trailing twelve month average

2. Chart compares total annualized gross profit generated per average inside sales client representative by months of tenure

3. Includes all existing and ex-employees11

17.3

20.6 20.2

25.6

30.8 32.2

35.2

37.5

10.0

15.0

20.0

25.0

30.0

35.0

0

250

500

750

1,000

1,250

Jan17-Dec17 Jan18-Dec18 Jan19-Dec19

Freight Cycle Dynamics

Illustrative Freight CycleIndex of Supply and Demand

Supply Demand

Strong Macro

Environment

Weak Macro

Environment

Demand Exceeds

Supply

• Good margins

• Significant

volumes of spot

at high margins

Expanding

margins as

demand falls

faster than supply

Soft Market

• Reduced prices

• Plenty of

capacity

Contracting

margins as

demand rises

faster than supply

Demand Exceeds

Supply

• Good margins

• Significant

volumes of spot

at high margins

A B C D A

12

Leading Organizations Endorse Echo

with Industry Awards and Recognition

#1 – Inbound Logistics’ Readers’ Choice Top 10 3PL Excellence Awards (2017, 2018, 2019)

Built In Chicago’s Top 100 Digital Companies

Inbound Logistics’ Top 10 3PLs

EPA SmartWay Transport Partner

Transport Topics’ Top 50 Logistics Companies

Target Corp. Outstanding Partnership Award

Food Logistics’ Top 3PL & Cold Storage Providers

Chicago’s 101 Best & Brightest Places to

Work For

#47 – Crain’s Chicago Business’ 50 Fastest-Growing Companies

Quaker Oats: Regional Broker of the Year

#4 – Transport Topics’ Top Freight Brokerage

Firms

Food Logistics’ Top Green Providers

Global Trade’s America’s Leading 3PLs

13

True Value Customer First Award

Financial Performance

Gross Revenue Net Revenue

Adjusted EBITDA(1)

$ MM $ MM

$ MM

603758

884

1,173

1,5121,716

1,943

2,440

2,185

0

750

1,500

2,250

3,000

2011 2012 2013 2014 2015 2016 2017 2018 2019

117143 156

208

290319

339

420

386

0

100

200

300

400

2011 2012 2013 2014 2015 2016 2017 2018 2019

28 36

3750

70 7262

100

84

0

23

45

68

90

2011 2012 2013 2014 2015 2016 2017 2018 2019

19.4% 18.9% 17.6% 17.7% 19.2% 18.6% 17.4% 17.2% 17.7%

% of Gross Revenue

24% 25% 24% 24% 23% 23% 18% 24% 22%

% of Net Revenue

26% 17% 33% 29% 13% 13% 26% -10%

% Growth

Note

1. Adjusted EBITDA refers to EBITDA excluding the effects of changes in contingent consideration, acquisition related transaction costs, Term Loan B commitment fees, non-recurring settlement costs, loss related to Shipper Direct acquisition, stock compensation expense and other expense

14

2019 Guidance(1)

Q1-2020 FY-2020

Revenue $530M - $570M $2.25B - $2.45B

Commission 30.0% – 30.5% 29.75% - 30.25%

G&A $46.5M - $49.5M $197M - $207M

Depreciation $6.9M $28.5M

Cash Interest $1.3M $6.0M

Share Count 26.6M 26.6M

Non-GAAP Tax Rate 25.0% 25.0%

Excluded for Non-GAAP Q1-2020 FY-2020

Amortization $2.8M $11.0M

Non-cash Interest $1.6M $2.4M

Stock Compensation $2.8M $10.6M

Note

1. 2019 Guidance reflects guidance given during the earnings call on February 5, 2020

Historical Financial Information

16

Reconciliation of Non- GAAP Financial Measures

dollars in millions, except per share data FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019

Net Income 12.0$ 12.3$ 14.2$ 16.8$ 7.8$ 1.6$ 12.6$ 28.7$ 14.8$

Depreciat ion 5.8 7.0 8.2 10.0 12.4 16.3 18.5 23.6 26.6

Amort izat ion 2.5 2.2 2.3 3.9 11.7 15.8 14.2 13.0 11.8

Non-cash interest expense - - - - 4.9 7.6 8.1 9.1 7.3

Cash interest expense - - - - 4.3 6.6 6.7 6.5 5.3

Income tax expense (benefit) 6.6 7.9 8.6 10.4 3.7 (0.2) (8.3) 9.3 7.0

EBITDA 26.9 29.4 33.3 41.1 44.8 47.7 51.8 90.2 72.9

Change in contingent considerat ion (0.2) (0.1) 0.1 2.2 0.2 (0.1) 1.0 0.4 1.1

Acquisit ion related transaction costs - - - 1.5 6.6 - - 0.3 -

Term Loan B commitment fees (non-recurring interest expense) - - - - 2.0 - - - -

Non-recurring sett lement costs - 0.7 - - - - - - -

Loss related to Shipper Direct acquisit ion - 2.5 - - - - - - -

Stock compensation expense 1.3 2.7 3.3 4.4 14.0 13.1 9.0 9.3 10.2

Other expense 0.3 0.4 0.4 0.3 0.2 - - - -

Adjusted EBITDA 28.3$ 35.6$ 37.1$ 49.5$ 67.8$ 60.8$ 61.8$ 100.2$ 84.1$

Fully diluted EPS 0.53$ 0.54$ 0.61$ 0.71$ 0.28$ 0.05$ 0.45$ 1.03$ 0.55$

Change in contingent considerat ion (0.01) - - 0.09 0.01 (0.00) 0.04 0.01 0.04

Amort izat ion 0.11 0.10 0.10 0.17 0.42 0.54 0.51 0.47 0.44

Acquisit ion-related transaction costs - - - 0.06 0.23 - - 0.01 -

Non-cash interest expense - - - - 0.17 0.26 0.29 0.33 0.27

Term Loan B commitment fees (non-recurring interest expense) - - - - 0.07 - - - -

Non-recurring sett lement costs - 0.11 - - - - - - -

Loss related to Shipper Direct acquisit ion - 0.03 - - - - - - -

Stock Compensation Expense 0.06 0.12 0.14 0.19 0.50 0.45 0.32 0.33 0.38

Tax effect of adjustments (0.06) (0.11) (0.09) (0.20) (0.52) (0.47) (0.75) (0.30) (0.23)

Non-GAAP fully diluted EPS 0.63$ 0.77$ 0.76$ 1.02$ 1.16$ 0.83$ 0.86$ 1.88$ 1.45$