Werner Q4 revenue rises 13% to $861.5M but operating income down 10%, EPS $0.94 vs $1.15

Key Consolidated Financial Metrics Three Months Ended December 31, Year Ended December 31, (In thousands, except per share amounts) 2022 2021 Y/Y Change 2022 2021 Y/Y Change Total revenues $ 861,491 $ 765,221 13 % $ 3,289,978 $ 2,734,372 20 % Truckload Transportation Services revenues 634,787 563,227 13 % 2,428,686 2,045,073 19 % Werner Logistics revenues 213,485 184,967 15 % 793,492 622,461 27 % Operating income 88,381 98,488 (10) % 323,076 309,146 5 % Operating margin 10.3 % 12.9 % (260) bps 9.8 % 11.3 % (150) bps Net income attributable to Werner 60,166 76,767 (22) % 241,256 259,052 (7) % Diluted earnings per share 0.94 1.15 (18) % 3.74 3.82 (2) %

Total revenues for the quarter were $861.5 million, an increase of $96.3 million compared to the prior year quarter, due to Truckload Transportation Services (“TTS”) revenues growth of $71.6 million and Logistics revenues growth of $28.5 million. Operating income of $88.4 million decreased $10.1 million, or 10%, while operating margin of 10.3% decreased 260 basis points. On a non-GAAP basis, adjusted operating income of $89.9 million decreased $11.2 million, or 11%. Adjusted operating margin of 10.4% declined 280 basis points from 13.2% for the same quarter last year. Truckload Transportation Services operating income decreased by $7.9 million and adjusted operating income decreased by $6.9 million. Logistics operating income declined $1.9 million and adjusted operating income declined by $3.9 million. Corporate and Other (including driving schools) operating income decreased by $0.4 million. Werner Enterprises, Inc. - Release of February 7, 2023 Page 2 Interest expense of $5.8 million