Field Trip Multi-Modal Transportation Plane Trip

September 1-3, 2020

Stephens is hosting a field trip for institutional investors to meet with the following companies. We will be providing transportation via a Stephens corporate plane, which could potentially include one or more pick-up/drop- off locations.

In the event that COVID-19 prevents this Stephens hosted event from taking place in-person, we are prepared to continue with the trip in a virtual manner.

■ CSX Corp. (CSX) ■ J.B. Hunt Transport Services, Inc. (JBHT) ■ Knight- Holdings (KNX) ■ Norfolk Southern Corp. (NSC) ■ , Inc. (SAIA) ■ Inc. (SNDR) ■ Union Pacific Corp. (UNP) ■ , Inc. (WERN)

Space for this field trip will be extremely limited. Meeting times and itinerary are subject to change.

Stephens is committed to the health and safety of all attendees of any Stephens hosted event. Stephens will be focusing on key areas in order to provide the requirements for safe meetings: health and safety protocols, social distancing arrangements, and partnering closely with everyone involved to ensure safe practices are in effect. Agenda

Tuesday, September 1 10:30 a.m. ET | Atlanta, GA Meeting with SAIA 1:30 p.m. ET |Jacksonville, FL Meeting with CSX

Wednesday, September 2 9:00 a.m. CT |Green Bay, WI Meeting with SNDR 1:00 p.m. CT |Omaha, NE Meeting with UNP 3:15 p.m. CT |Omaha, NE Meeting with WERN

Thursday, September 3 7:30 a.m CT |Bentonville, AR Virtual Meeting with NSC 9:30 a.m. CT|Bentonville, AR Virtual Meeting with KNX 11:30 a.m. CT|Bentonville, AR Meeting with JBHT

Field Trip Hosts Justin Long Jack Atkins Managing Director Managing Director Transportation Research Transportation Research (501) 377-2036 (501) 377-2298 [email protected] [email protected]

STEPHENS.COM

800-643-9691

©2020 STEPHENS INC. MEMBER NYSE, SIPC STEPHENS INC., 111 CENTER STREET, LITTLE ROCK, AR 72201

UNSUBSCRIBE EMAIL PREFERENCES VIEW ONLINE

This announcement has been prepared solely for informative purposes as of its stated date and is not a solicitation, or an offer, to buy or sell any security. It does not purport to be a complete description of the securities, markets or developments referred to in the material. The research analyst principally responsible for preparation of this announcement has received compensation that is based on the firm’s overall revenue which includes investment banking revenue. To access current disclosures for the companies in this announcement, clients should refer to http://info.stephens.com/e/244892/sellside- Disclosures-action/285xqbb/406090559?h=pIANsZPRPfctLs4gdjscq_BiopzaEV6bhz07I9wJolY or contact your Stephens Inc. representative for additional information. Please also note that the announcement may include one or more links to external or third-party websites. Stephens Inc. has not independently verified the information contained on such websites and can provide no assurance as to the reliability of such information, and there can be no assurance that any opinions expressed on such websites reflect the opinions of Stephens Inc. or its management. Additional information available upon request.