Marten Transport, Ltd. · NASDAQ:MRTN
Marten Transport — Q3 2026 Earnings Presentation
24 slides from Marten Transport's earnings presentation, Oct 22, 2026
Slide 1: Q3 2026 Operating & Financial Results
MARTEN TRANSPORT, LTD. Q3 2026 OPERATING & FINANCIAL ( RESULTS 3) RX MARTEN “&E ‘Expect the Best! pared \.
Slide 2: Diversity of Services
Diversity of Services Marten Transport is a multifaceted business offering a network of refrigerated and dry truck-based transportation and distribution capabilities across our distinct TRUCKLOAD ‘53% of Revenue 67% temp] 33% dry Regional temp, dry & OTR ‘operating from 14 regional service centers b
Slide 3: Our Mission
Our Mission At Marten Transport, our mission is to be an international leader in transportation and logistics. Through the development of our people, innovation and commitment to excellence, we will exceed our customers’ expectations and provide superior returns to our stockholders. We are committed
Slide 4: Q3 2026 Summary and Outlook
Q3 2026 Summary and Outlook The truckload freight market has sharply tightened since earlier this year as renewed and enhanced enforcement of federal and state law is removing a meaningful amount of noncompliant and unqualified driver capacity from the marketplace. We are securing higher pricing fro
Slide 5: Operating Results
Operating Results ntinui + 2018-2022 Set the then- + Value is highlighted by + Capitalize on profitable current record for highest operating results for organic growth across our annual operating revenue dedicated and brokerage business platforms ‘and operating income + Continuous investment in + 20
Slide 6: Rates and Utilization Since 2023
Rates and Utilization Since 2023 The freight market has sharply tightened in recent months with truckload rates increasing significantly ‘Truckload Rate per Total Mile, Utilization & Revenue perTractor "=". Freight rates and revenue per tractor declined significantly from 2023 through 2025—during a
Slide 7: Operational Footprint
Operational Footprint Regional in Structure J_ NationalinScope )¥ International in Reach Q Corporate Office Regional Operating 9 centers Sustainable Solar Power in each of our Facilities x MARTEN.
Slide 8: Dedicated Operations
Dedicated Operations Our dedicated operations significantly contributed to our total ‘operating income in 2024 through Q3 YTD '26 Dedicated Operating Revenue Dedicated Operating Income (excluding tuel surcharges) in thousonds in milions "19°20 2122 -23°24°-25 «GI GI G2 G2 G3 a3 a @ Ey a4 25 26 25 26
Slide 9: Brokerage Operations
Brokerage Operations Our brokerage operations significantly contributed to our total operating income in 2024 through Q3 YTD '26 ir Brokerage Operating Income Brokerage Operating Revenue inmilions in thousands a 2 03 4 1 15 6 a ee) 20 a 22 Pr ne)
Slide 10: MRTN de Mexico
MRTN de Mexico Cross Border market yield is improving and growth is ‘ MRTN de Mexico Consolidated resumed during Q2 and Q3 ‘26 Operating Revenue per Shipment Have minimized the impact of the freight market (eee sinner) recession ~- $53.3 million operating revenue for 2025 vs. $62.9 million for 2024,
Slide 11: Investing in Growth & Safety
Investing in Growth & Safety + Added Equipment Safety + Collision Avoidance ind Spot Detection + Lane Departure Alerts + Side Camera Visi + Platform Science + Smart Drive Million Mile 21,000 sete orivers FLEET 20% Tractor Cost Increase, 2026 vs. 2021 25% Reefer Trailer Cost Increase 2026 vs. 2021 Ne
Slide 12: Solar Advantage
Solar Advantage Our first solar project was completed in 2018. Since then, we've completed 18 additional solar installations at Marten facilities across our national network. Today, every tractor and refrigeration unit is equipped with solar power. 3 million kWh of generation ond offset each year xt
Slide 13: Steadfast Commitment
Steadfast Commitment Let’s Talk Green Our journey spans from innovative solutions to sustainable milestones, ensuring a greener future in every mile DECADES OF SUSTAINABLE PROGRESS @ Equipment Modernization initiatives @ temp-controlled Efficiency initiatives ©@ solar Energy across Facilities and Fl
Slide 14: Platform Science
Platform Science Platform Science is the in-cab technology platform that supports safe driving, regulatory compliance and real-time visibility across our fleet How it supports safety: All Fleet Apps in ONE Place on ONE Device Safer for drivers Compliance Assist In compliance with state and federal H
Slide 15: SmartDrive System
SmartDrive System smartDrive is our video-based safety system that helps prevent accidents through early risk detection, driver coaching and continuous improvement How it supports safety: Camera Technology Forword-facing camera technology focused on driver behavier Coaching & Corrective Action ‘Smar
Slide 16: Side Camera Program
Side Camera Program A recent technology enhancement, side camera systems provide full visibility around the vehicle—including blind spots—supporting safer maneuvers and reducing accident risk and liability exposure How it supports safety: Eliminates blind spots Improves lane changes and merging Redu
Slide 17: Operating Revenue
$100 Operating Revenue Operating Revenue (excluding fuel surcharges) inmilions eee) 12., 2022 12" straight yeor of highest operating revenue (exctueing tuo! surcharges} 223 2023 shipper codes increased by 228 with 107 new customers to Morten 224 2024 shipper codes increased by 224 with 71 new custom
Slide 18: Operating Income
Operating Income Between 2018 and 2022, we generated our highest operating income in our history each year Operating Income in milions $150 $140 8 g sSSeesg ees
Slide 19: Operating Ratio, net of Fuel Surcharges
Operating Ratio, net of Fuel Surcharges From 2020 through 2022, we achieved our then-best ratio for any 100% 9996 98% 97% 96% 95% 94% 93% 2% on 90% 29% 88%, 37% 26%, 35%, 30% 3% 2% ar% 80% year since becoming public in 1986 Operating Ratio [Net of Fue! Surcharges a eee AE ERREUERUEREE ee MOE HS He 7
Slide 20: Diluted EPS
Diluted EPS” s140 $120 _ NO DEBT $1.00 We have not had any debt since 2017 30.90 ~ DIVIDEND $080 + Current $0.08 per share -- approx.1.9% yield $050 5 + 65 consecutive quarterly payments since pee rn initiated in 2010 30.30 - $020 | + $285.9 million paid, including $1349 million in 200 a | iH] aan s
Slide 21: Industry Recognition
Industry Recognition © CHEMOURS NORTH AMERICAN PLATINUMIGOLD EXCELLENCE isn't just a goal CARRIER OF THE YEAR 2020-2023 ‘sa standard JOHNSONVILLE SAUSAGE NATIONAL CARRIER OF THE YEAR 2021-2023 We are proud to be certified by the Truckload Carriers Association (TCA) as a FeO NaREROF THERESE 2025 & 20
Slide 22: Culture for Excellence
Culture for Excellence @AQQ "vested in our PEOPLE, Marten is dedicated to employee '@@" development and promoting from within Marten’s nationwide operational network, proprietary information systems and disciplined culture deliver reliable operating performance for our CUSTOMERS se -€ Marten cultiva
Slide 23: Resilient Outlook in Breakout Freight Market
2 Resilient Outlook in Breakout Freight Market + We are seeing increased customer interest in securing dedicated and truckload capacity. + The outlook for our dry van division remains strong, supported by a significantly larger market, with approximately eight dry van loads for every refrigerated lo
Slide 24: Thank You
THANK YOU THANK YOU THANK YOU ® MARTEN Expect the Best! ‘This presentation and ciscussion contains forward-looking statements within the meaning ofthe Private Securities Litigation Reform Act ot 1995. Words such os “expects,” “anticipates,” “intends,” “estimates, or similar expressions are intended