Loup Logistics Transitions Odessa Operatorship

Released February 3, 2023

ODESSA, TX | Feb. 3, 2023 – Loup Logistics Company (Loup) today announced a transition of operatorship at its transload facility in Odessa, Texas, from Black Gold Terminals (Black Gold) and Vaughan Precision Services (Precision) to Savage. The transition, effective April 1, 2023, will maintain transloading, storage and trucking solutions for customers shipping into and out of the Odessa market.

“Loup is excited about the continuity a transition to a single operator will provide for our customers” said Josh Perkes, Vice President, Loup. “Loup appreciates the excellent working relationship established with both Black Gold and Precision and their help in providing superior service to customers in the Odessa market over the past eight years. We look forward to starting a new chapter with Savage, capitalizing on their long-established industry expertise, to provide creative rail solutions and cost-effective transload operations.”

“We’re pleased to be selected by Loup to operate its transload facility in Odessa and look forward to working together to provide excellent customer service and improve supply chains for shippers in the region,” said Jason Ray, president of Savage’s Infrastructure Sector. “We operate over 50 transload terminals across North America, in addition to providing other infrastructure and agriculture services, and it’s exciting to continue growing our rail operations in Texas and across the country.”

About Loup

Loup is a wholly owned subsidiary of Union Pacific. With over 40 years of experience, Loup services both manifest and premium customers, with a goal of connecting the supply chains of non-rail served customers. Loup owns and operates 18 transload facilities across the western half of the U.S. and maintains partnerships with over 800 third-party transloaders across North America, offering their customers access to an unparalleled transload network. More information about Loup is available at www.louplogistics.com.

About Union Pacifc

Union Pacific (NYSE: UNP) delivers the goods families and businesses use every day with safe, reliable and efficient service. Operating in 23 western states, the company connects its customers and communities to the global economy. Trains are the most environmentally responsible way to move freight, helping Union Pacific protect future generations. More information about Union Pacific is available at www.up.com.

About Savage

Established in 1946, Savage is a privately held, global provider of supply chain infrastructure and services, with more than 4,000 Team Members in over 200 locations. Our Customers and Partners count on us to safely and sustainably move and manage what is essential to their business. We enable our Customers and Partners to Feed the World, Power Our Lives and Sustain the Planet. Savage currently operates one transload facility for Loup, located in Valla, CA. www.savageservices.com

This news release and related materials contain statements about the Company’s future that are not statements of historical fact, including specifically the statements regarding the Company’s expectations with respect to economic conditions and demand levels; its ability to generate financial returns, improve resource productivity; enhancing the customer experience; implementing corporate strategies; and providing excellent service to its customers, returns to its shareholders and potential impacts of the COVID-19 pandemic. These statements are, or will be, forward-looking statements as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements also generally include, without limitation, information or statements regarding: projections, predictions, expectations, estimates or forecasts as to the Company’s and its subsidiaries’ business, financial, and operational results, and future economic performance; and management’s beliefs, expectations, goals, and objectives and other similar expressions concerning matters that are not historical facts.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times that, or by which, such performance or results will be achieved. Forward-looking information, including expectations regarding operational and financial improvements and the Company’s future performance or results are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statement. Important factors, including risk factors, could affect the Company’s and its subsidiaries’ future results and could cause those results or other outcomes to differ materially from those expressed or implied in the forward-looking statements. Information regarding risk factors and other cautionary information are available in the Company’s Annual Report on Form 10-K for 2020, which was filed with the SEC on February 5, 2021. The Company updates information regarding risk factors if circumstances require such updates in its periodic reports on Form 10-Q and its subsequent Annual Reports on Form 10-K (or such other reports that may be filed with the SEC).

Forward-looking statements speak only as of, and are based only upon information available on, the date the statements were made. The Company assumes no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References to our website are provided for convenience and, therefore, information on or available through the website is not, and should not be deemed to be, incorporated by reference herein.