MONTHLY NEWSLETTER DECEMBER 2020

PROGRESS DATA RECAP NOVEMBER

97%

YTD MARGIN $6,963,752

(ACHIEVED 97% OF THE $7M GOAL)

99%

YTD TRACKING PROGRESS

(99% ON TRACK WITH GOALS)

MONTH AND YTD TEAM PROGRESS

PROGRESS RECAP CONT.

OPS. AND AMS

SALES $94,229 NOVEMBER ROLLING NEW BUSINESS MARGIN

$666,396 YTD ROLLING NEW BUSINESS MARGIN

MARKET UPDATE

The demand for logistics services is continuing to grow in both retail and manufacturing sectors due to the holiday shipping season. Firms are having difficulty keeping up with the demand (https://www.dat.com/blog/post/warehouses-at-peak-capacity-struggle-with-demand) Outbound load volumes dropped last week in all our top 10 freight markets - down a collective 24% w/w. Being a short shipping week, sharp drops in outbound volumes are to be expected, but large declines in Ontario (#4) and Los Angeles (#5) of 46% and 50% w/w respectively are notable. (https://www.dat.com/blog/post/warehouses-at-peak-capacitystruggle-with-demand) As of Friday’s close, container liner stocks were up 53% year-to-date and container-ship owners were up 16%, whereas crude tanker equities were down 39%, product tanker equities 53% and dry bulk equities 32%. (https://www.freightwaves.com/news/q3-stock-recap-ocean-shippings-winners-and-losers) On Black Friday, the Outbound Tender Reject Index (OTRI) notched another all-time high for the series at 28.46%. Since then, OTRI has meaningfully declined by nearly 3% but remains extremely high at 25.82%. Rejection rates immediately after the holiday weekend are following a similar pattern to 2019, as rejection rates a year ago fell ~60 bps entering December before climbing higher through Christmas. (https://www.freightwaves.com/news/outbound-tender-volumes-rebound-post-thanksgiving) According to the USDA, spot rates for truckloads hauling produce are hitting their highest marks of the year, with rates exceeding $10,000 in certain lanes across the U.S. (https://www.freightwaves.com/news/produce-spot-rates-break-10k-per-load-in-november) The average rate for moving a produce load from the Salinas Valley in Northern California to Philadelphia has risen from $7,550 in mid-June — the typical average late-spring peak — to $10,150 at the end of November. (https://www.freightwaves.com/news/produce-spot-rates-break-10k-per-load-in-november) Many carriers have risen driver pay to attract new drivers. With the average being a 6% increase, some carriers such as Heartland Express and KLLM have provided raises from 9%-12%. This is a clear indication that even if/when rates begin to “normalize”, we won’t likely see rates as low as they once were before the pandemic. https://www.freightwaves.com/news/heartland-express-raises-driver-pay-as-much-as-12 & https://www.freightwaves.com/news/kllm-to-roll-out-one-of-the-largest-driver-payincreases-in-company-history

OPPORTUNITIES

OFFICE HIGHLIGHTS SHOUT OUTS Sales - Chauncey had a HUGE November by hitting over $13,500 in margin on 37 loads – this was more than 3X her October margin and over 4X her October volume! Considering she just started making sales calls in July and her first load moved in August, this is one of the fastest starts we’ve seen at Soren in a long time. Couldn’t be more proud as her leader or more excited to see what her future looks like at Soren. We also added two new SDRs to the team, Matthew Zion and Georgette Covell!

EVENTS December

December 12th - Soren Christmas Party December 14th - Soren Community Service Activity Day 1 December 17th - Soren Community Service Activity Day 2 December 24th - Christmas Eve Soren 1/2 Day Off December 25th - Christmas Day Soren Day Off December 31st - New Year's Eve Soren 1/2 Day Off

NEW EMPLOYEES

Matthew Zion - SDR Georgette Covell - SDR Drake Daly - SDR Starts 1/4/2020

EMPLOYEE SPOTLIGHTCHAUNCEY CANALES Tell us a little bit about your family… My wonderful family consists of my mom Jeanna who was a schoolteacher, my dad Cody who works as a super intendent in construction, and my older brother Drakkar who works as a ranch manager at a cattle company. I got every bit of my personality from my mom. She calls me her mini me. My dad is an old school guy and has taught me how to enjoy the simple pleasures of life. My brother is the hardest worker I know and my best friend. I have recently added a new member to my family as well as became a part of another. I am just recently engaged to my wonderful fiancé Nicholas Krause. We now live in Katy, TX and loving every second of life! Where is your favorite place to be? The lake or back home. What is your favorite movie or TV show? The Office will always be the best, but Game of Thrones is my recent favorite. If you had to eat one meal, every day for the rest of your life, what would it be? A nice steak meal! If you could meet anyone living or dead, who would it be? Johnny Depp If you were stuck on an island what three things would you bring? A knife, rope, and a Brita Filter People would be surprised if they knew… I grew up raising cows and even worked at a cattle company for a while.

DECEMBER EMPLOYEE ANNIVERSARIES December 12th John's 4 year Anniversary