The document discusses factors impacting supply chains and transportation, including evolving international sourcing strategies, changing energy costs, government regulation, and modal capacity issues. Government regulation is increasing for the trucking industry through new safety and hours of service rules. This will tighten truck capacity and potentially increase rates while benefiting rail transportation. Rising energy costs also impact supply chains as companies seek to reduce transportation costs through strategies like nearshoring and increasing shipment velocity.

1. The Evolving Transportation/Supply Chain Landscape Columbus Region Logistics Council Thursday August 4, 2011 Mark Davis Senior Analyst/Partner 216-649-7207 [email_address]

2. Economic Snapshot: Is the Economy Improving?

7. Factors Impacting Supply Chains/Transportation

12. Changing Energy Paradigm

15. Government Regulation

24. Modal Capacity Issues

29. Disclosures Other Disclosures: I, Mark Davis, certify that the views expressed in the research report(s) accurately reflect my personal views about the subject security(s). Further I certify that no part of my compensation was, is, or will be directly or indirectly related to the specific recommendations or views contained in the research report(s). The analysts responsible for the preparation of this report have no ownership stake in this company. Cleveland Research Company provides no investment banking services of any type on this or any company. The information transmitted is intended only for the person or entity to which it is addressed. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. Member FINRA/SIPC

30. The Evolving Transportation/Supply Chain Landscape Columbus Region Logistics Council Thursday August 4, 2011 Mark Davis Senior Analyst/Partner 216-649-7207 [email_address]