Fall Investment Conference

November 14, 2012

This presentation includes forward-looking statements,

within the meaning of the Private Securities Litigation

Reform Act of 1995. These statements are based on

Werner Enterprises’ current plans, and are not guarantees

of future performance. They are subject to risk and

uncertainties, that could cause actual results, and

company plans and objectives, to differ materially from

those expressed in the forward-looking statements.

Such risks and uncertainties are discussed in the

Company’s Annual Report, on Form 10-K, filed with the

SEC.

DISCLOSURE STATEMENT

1 1

• Premium provider of Transportation and Logistics Services

• Operating throughout North America, Asia and Australia

• 2011 Revenue: $2.0B

• 2011 Operating Income: $174M

• 2011 Net Income: $103M

• World Headquarters: Omaha, NE

• NASDAQ: WERN

• Market cap: $1.6B

• 2012 Quest for Quality Multiple Award Winner in Truckload

and 3PL Logistics

WERNER ENTERPRISES PROFILE

2 2

3

1980

• Deregulation

1986

• IPO

1992

• GPS on all trucks

• Dedicated, Regional

and TC fleets formed

1998

• First to install

electronic driver

logs (EOBR)

1999

• Mexico launch

• Canada designated

fleet formed

2003

• Brokerage and

Intermodal expansion

2006

• Werner Global

Logistics formed

• China launch

2007

• LH fleet reduction

2009

• Safety improvement initiative begins

• Australia launch

2008

• Balanced portfolio

initiative begins

• Fuel MPG initiative

begins

1956

• Founded by

C.L. Werner

2011

• $103M earnings

(record high to date)

THE PATH OF WERNER PROGRESS

Debt to Equity

*Special dividend of $150 million ($2.10/share) paid to shareholders 12/5/08. Special dividend of $90 million ($1.25/share) paid to

shareholders 12/8/09. Special dividend of $116 million ($1.60/share) paid to shareholders 12/7/10. Special dividend of $36 million

($.50/share) paid to shareholders 12/15/11. Total of $392 million of special dividends during 2008-2011 ($5.45/share), in addition to regular

$.20/share annual dividend.

4

0

200

400

600

800

1000

1994 1996 1998 2000 2002 2004 2006 2008* 2010*

Mill

ion

s o

f D

olla

rs

Debt Equity

*

WERNER ENTERPRISES CONSISTENTLY GROWING & FINANCIALLY STRONG - GENERATING FREE CASH THROUGHOUT THE CYCLE

4

0

300

600

900

1,200

1,500

1,800

2,100

2,400

1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010

Mill

ion

s o

f D

olla

rs

Revenues

46% 49% 51%

29% 26% 24% 18% 17% 16%

7% 8% 9%

0%

10%

20%

30%

40%

50%

60%

2009 2010 2011

Retail/CP

Grocery Products

Manuf./Industrial

Logistics/Other% o

f R

evenues*

*top 50 customers

% o

f R

even

ue

s

Vertical:

Customers:

REVENUE SOURCES

5

26% 27% 26%

41% 40% 40%

61% 60% 60%

76% 74% 74%

0%

20%

40%

60%

80%

100%

2009 2010 2011

Top 5

Top 10

Top 25

Top 50

5

Truckload, $280 37%

Dedicated (Private Fleet),

$277 37%

LTL, $47 6%

Rail carload, $56 8%

Rail intermodal, $15

2%

U.S. Freight Market Revenues

in billions of $*

*Source: ATA and Stifel Nicolaus estimates

DOMESTIC FREIGHT MARKET:

MARKET SHARE & GROWTH OPPORTUNITIES

6

$0

$50

$100

$150

$200

$250

$300

TruckloadDedicated(PrivateFleet)

Rail(Intermodal)

$280 $277

$15

Re

ve

nu

e i

n b

illi

on

s

Werner Enterprises Growth Opportunities

Werner % Share Total Freight Market

6

Other

(Pipeline, Air, Water)

$73

10%

Asset-

Lig

ht

Asset-

Inte

nsiv

e

• Freight Management

• Brokerage

• Intermodal

• Cross Border

• Global Logistics

ONE-WAY TRUCKLOAD

Regional Fleets

Temperature

Controlled

Medium / Long Haul

Team Werner

LOGISTICS

DEDICATED

Van

Temperature

Controlled

Flatbed

Flatbed

* Includes Cross Border Asset-Light (MX, CAN) – 10% of Revenues

Goal 3Q12

1/3 28%*

1/3 37%

1/3 35%

7

REVENUE PROFILE

7

FREIGHT MARKET UPDATE

8 8

ONE-WAY

TRUCKLOAD

COMPREHENSIVE SOLUTIONS

9

Werner provides complete 3PL supply

chain solutions across all shipping modes

and geographies, from network design

through implementation.

Freight Management

With an asset-backed network of 7,300

trucks, 8,500 alliance carriers and ocean, air

and rail companies, Werner provides

unsurpassed delivery solutions worldwide.

Freight Movement

Providing door-to-door services for

companies of all sizes and industries as they

compete in today’s global marketplace,

sets us apart from our competition.

Global Implementation

Sophisticated technology tools

provide our customers instant visibility across

their supply chain, which enables them to

better manage their business.

Technological Advantages

FUEL PRICE TRENDS

10

$1.20

$1.40

$1.60

$1.80

$2.00

$2.20

$2.40

$2.60

$2.80

$3.00

$3.20

$3.40

$3.60

$3.80

$4.00

$4.20

$4.40

$4.60

$4.80

$5.00

Pri

ce

Pe

r G

all

on

(in

$)

2008 2009 2010 2011 2012

* Dept. of Energy (DOE) fuel price survey (Nat'l avg.) of truck stops used by shippers/carriers for

billing fuel surcharges. Fuel price includes fuel taxes.

1Q 2Q 3Q 4Q

10

GREEN INITIATIVES

11

Werner Enterprises is a SmartWaySM Transport partner. SmartWay is a collaboration

between the EPA and the freight industry, to increase energy efficiency and reduce air

pollution. Werner has earned a Shipper Index Factor score (SIF) of 1.25, the highest

possible score. Fuel efficiency initiatives:

Aerodynamic Trucks

Installation of fuel idling reduction equipment, including Auxiliary Power Units

(APUs) and Espar heaters

Out of route mile and empty mile reduction

Trailer skirts

Tire-inflation systems

Mph optimization

Company-wide recycling programs:

7,300 trucks and 13,000 employees committed to saving the environment

Programs that recycle: oil, tires, paper and aluminum

Werner’s Impact:

4 years of MPG improvement

Continued mpg improvement opportunities

150,000 ton reduction in carbon footprint from mpg improvement, last 3 years

INS/CLAIMS CPM

9.0 9.3

10.7

9.6

8.0 7.9

0123456789

101112

2006 2007 2008 2009 2010 2011

Each 1.0 CPM reduction worth 7¢/share

ACCIDENTS PER MM

12.611.9

11.110.1

9.08.4

0123456789

101112131415

2006 2007 2008 2009 2010 2011

33% reduction 2006 to 2011

WERN SAFETY IMPROVEMENTS

12 12

¢

¢

¢

¢

¢

¢

¢

¢

¢

¢

¢

¢

¢

CPM – Cents per mile

MM – Million miles

REGULATORY – HOS AND EOBR

13

HOS impact on shippers

Utilization decrease per tractor in the market

Decreased driver wage potential

Decreases capacity, increases the number of tractors needed to haul the same amount of goods

Overall impact, higher transportation costs

The FMCSA announced various changes

effective February 2012, with a compliance

date of July 2013.

Primary rule change 34 hour restarts will

now need to include two consecutive

periods between 1 a.m. and 5 a.m.

The latest highway reauthorization bill

dubbed Moving Ahead for Progress in the

21st Century Act (MAP 21) was passed June

2012. EOBR mandates in this bill states that

all motor carriers that must file a record of

duty status (RODS), and will be required to do

so with an electronic logging device.

SUPPLY – CAPACITY

Sources: KeyBanc

Including owner

operators, truckload

capacity at public

fleets is nearly 20

percent below peak

4Q06 levels

14

23,000

25,000

27,000

29,000

31,000

33,000

2Q

05

3Q

05

4Q

05

1Q

06

2Q

06

3Q

06

4Q

06

1Q

07

2Q

07

3Q

07

4Q

07

1Q

08

2Q

08

3Q

08

4Q

08

1Q

09

2Q

09

3Q

09

4Q

09

1Q

10

2Q

10

3Q

10

4Q

10

1Q

11

2Q

11

3Q

11

4Q

11

1Q

12

2Q

12

Total Public Truckload Fleet Capacity

Sources: ACT Research Co. and Wards

SUPPLY – AGING FLEETS

15

U.S. Class 8 Trucks Average Age

Ag

e i

n Y

ea

rs

Class 8 Tractor Maintenance Expense

Cost per mile

DR

IVE

R

MA

RK

ET

16 * Sources: BLS OES, ACT Research Co.

2010 U.S. Census Driver Age

Profiles

“…to attract the higher share of workers

needed for the 10 year growth projection, the

trucking industry must return to the wage

position that prevailed in the 1990s.”

- ATA

“Roughly 25 percent of the driver

workforce has been eliminated from the

industry during the past 10 years as a

result of demographic and health

issues... the largest group of drivers are

aged 35 to 54.”

- Logistics Management

DRIVER MARKET

Driver Wages Relative to Food Prep

Workers

$0

$50

$100

$150

$200

$250

$300

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

goal

Mill

ion

s o

f D

olla

rs

Cash Flow from Operations Cap Ex, Net

CASH FLOW AND CAP EX

15

* All equipment replacement, no fleet growth in 2011

** Increased cap ex in 2006 and 2007 prior to 2007 EPA engine

emission change

**

**

17

$225M range

$210M

*

ENHANCING SHAREHOLDER RETURN

16

$0

$20

$40

$60

$80

$100

$120

$140

$160

$180

$200

2006 2007 2008 2009 2010 2011

Mil

lio

ns o

f $

$0.00

$0.25

$0.50

$0.75

$1.00

$1.25

$1.50

$1.75

$2.00

$2.25

$2.50

2006 2007 2008 2009 2010 2011

Share repurchases

Dividends

Special dividends

$99M

$128M

$169M

$104M

$ Per Share

$1.28

$1.76

$2.36

$1.45

$130M $1.80

Total 2006 - 2011: $ Per Share

Share repurchases $203M $2.72

Dividends $85M $1.18

Special Dividends $392M $5.45

$680M $9.35

18

$.70

$50M

-10%

-8%

-6%

-4%

-2%

0%

2%

4%

6%

8%

10%

7,000

7,200

7,400

7,600

7,800

8,000

8,200

8,400

8,600

8,800

9,000

9,200

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

% C

ha

nge

YO

Y

Ave

rage

# o

f Tru

cks

In S

erv

ice

Average # of Trucks in Service % Change YOY

Keep fleet count flat at approx. 7,300 trucks -

focused on reaching TL OI% target of 11%

TRUCKS

17 19

420

440

460

480

500

520

540

560

580

600

620

640

660

680

700

2,170

2,200

2,230

2,260

2,290

2,320

2,350

2,380

2,410

2,440

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Miles Per Truck Per Week Length of Haul (Loaded)

Mile

s P

er

Tru

ck P

er

Week

Length

of

Haul (L

oaded)

Reduction of long-haul; growth

of Dedicated and Regional

MILES PER TRUCK AND LENGTH OF HAUL

18 20

-4%

-3%

-2%

-1%

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

$1.07

$1.12

$1.17

$1.22

$1.27

$1.32

$1.37

$1.42

$1.47

$1.52

$1.57

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

% C

ha

nge

YO

Y

Re

ve

nue

Pe

r To

tal M

ile

,

Ne

t o

f F

ue

l S

urc

ha

rge

Revenue Per Total Mile, Net of Fuel Surcharge

% Change YOY

RATES

20 21

Rate improvement momentum, + 3.8% in 2011

-4%

-3%

-2%

-1%

0%

1%

2%

3%

4%

5%

$1.350

$1.400

$1.450

$1.500

$1.550

$1.600

1Q092Q093Q094Q091Q102Q103Q104Q101Q112Q113Q114Q111Q122Q123Q12

YO

Y R

PT

M %

Ch

an

ge

RP

TM

: R

eve

nu

e p

er

To

tal M

ile (

Ex-F

ue

l)

RPTM: Revenue per Total Mile (Ex-Fuel) YOY RPTM % Change

21 22

IMPROVING RATE TRENDS – LAST 15 QUARTERS

WERNER OPERATING STATS

22 23

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12

3Q12 to

3Q11

Miles per truck 29,307 30,666 30,255 29,910 29,115 30,174 29,643 29,139 28,980 29,139 28,725 <3%>

DH (empty) miles per

trip 64 61 61 62 64 66 67 65 66 66 69 3%

Tractor/non driver ratio 4.1 4.0 4.1 4.0 4.0 4.0 4.0 3.9 3.9 4.0 3.9 <2%>

Cost per mile, ex-fuel $1.256 $1.246 $1.251 $1.241 $1.288 $1.261 $1.264 $1.302 $1.316 $1.308 $1.324 4.7%

Revenue per total mile,

ex fuel $1.437 $1.470 $1.500 $1.501 $1.502 $1.516 $1.543 $1.570 $1.541 $1.555 $1.573 1.9%

OP

IN

C -

% O

F R

EV

EN

UE

S

EP

S

$.12 $.10

$.15

$.22

$.29 $.25

$.18

$.29

$.38

$.42

$.31

$.26

$.33

$.40

$.34

$.26 $.25

$.33

$.40

$0.00

$0.05

$0.10

$0.15

$0.20

$0.25

$0.30

$0.35

$0.40

$0.45

2008 2009 2010 2011 2012

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

OPERATING MARGIN TRENDS*

23

EPS TRENDS

* Total Company (Trucking and Logistics) 24

2

3

4

5

6

7

8

9

10

11

1Q 2Q 3Q 4Q

2008 2009 2010 2011 2012

EPS TRENDS

24

$0.13

$0.17$0.22$0.22

$0.25$0.27

$0.34

$0.41$0.46$0.46

$0.51

$0.61

$0.72

$0.76

$0.61$0.60

$0.76

$0.90

$1.08

$1.22$1.25

$1.02

$0.94

$0.79

$1.10

$1.40

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

$1.40

$1.60

86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11

25

9.0%8.7%

6.8%

5.0%

5.9%

7.9%

9.3% 9.2%

11.0%

2005 2006 2007 2008 2009 2010 2011 Target

• Truckload Transportation Services (includes One-Way TL and Dedicated).

Above percentages include fuel (fuel surcharge revenues and fuel expense).

WERN TARGETING AN ANNUALIZED 11% TL*OPERATING MARGIN

25 26

LTM

Sept

2012

11.3%8.8% 8.1% 7.5%

11.1%

14.5% 14.1% 15.0%

2006 2007 2008 2009 2010 2011 Target

ROE

6.9%5.4% 5.2% 4.6%

6.6%8.3% 8.1% 9.0%

2006 2007 2008 2009 2010 2011 Target

ROA

WERN TARGETING A 15% ROE & 9% ROA

26 27

LTM

Sept

2012

LTM

Sept

2012

27 28