NYSE: CGI

www.CeladonGroup.com

2

Forward-Looking Statement Disclaimer

This presentation, including documents incorporated herein by

reference, will contain forward-looking statements within the meaning of

Section 27A of the Securities Act of 1933, as amended and Section 21E

of the Securities Exchange Act of 1934, as amended. Forward-looking

statements are subject to risks and uncertainties that could cause actual

results to differ materially from those contemplated by the forward-

looking statements. Please review our disclosures in filings with the

Securities Exchange Commission.

About Celadon

Overview

• Established: 1985

• NYSE Ticker: CGI

• Shares Outstanding: 23.69M

• Market Capitalization: $439.9M

• Recent Price: $18.57 (11/8/13)

• Initiated Quarterly Dividend in 2011

• 52-week Range: $15.52 - $21.99

• $200M unsecured line of credit

• Strong acquisition history

Awards & Accomplishments• Healthy Trucking Fleet of the Year

• Wal-Mart – Platinum Carrier of the

Year

• Ryder – National Truckload Carrier of

the Year

• Phillips -Van Heusen – Truckload

Carrier of the year

• First Carrier certified C-TPAT and ACE

for border crossings

• ‘Highway 2 Health’ Wellness Program

(American Heart Association award)

• Voted ‘Best Fleets to Drive For’ and

‘Best Places to Work in Indiana’

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Celadon Operations

• Truckload Operations– 3,200 tractors (including 350 Canada and 200 Mexico)

– 8,900 trailers

– Young Fleet

– Tractor: 1.4 years at 9/30/13

– Trailer: 2.4 years at 9/30/13

– Long Haul Focus

• International Footprint– 35% Mexico / 17% Canada

• Intermodal and Brokerage Services

• Celadon Dedicated and Logistics Services

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Past Acquisitions

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2002 2003 2004 2005 2006 2007 2008 2009

Burlington

Motor CarriersIndiana

March 2002

Highway ExpressVirginia

September 2003

CX RobersonIllinois

March 2005

Warrior XpressVirginia

March 2007

Continental

Express IncArkansas

December 2008

DigbyTennessee

October 2006

Air Road ExpressIndiana

June 2007

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Recent Acquisitions and Terminal Locations

Recent Quarter Comparison

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RPLM $1.516 $1.562 $1.597

Operating Ratio 90.9% 87.6% 91.9%

Avg. Seated Tractors 2,529 2,736 3,024

Loaded Miles (thousands) 64,227 66,018 71,687

$0.24

$0.36

$0.28

$-

$0.05

$0.10

$0.15

$0.20

$0.25

$0.30

$0.35

$0.40

Q1 12 Q1 13 Q1 14

Previous 1st (Sept) Quarter Results

Previous Year Comparison

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Avg. RPLM $1.481 $1.535 $1.563

Avg. Operating Ratio 93.4% 90.2% 90.1%

Avg. Seated Tractors 2,662 2,705 2,707

Total Loaded Miles

(thousands)

248,459 244,176 241,771

$0.67

$1.12 $1.15

$-

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

$1.40

FY11 FY12 FY13

Annual EPS

$15.3

$25.5$27.3

$6.6

$0.0

$5.0

$10.0

$15.0

$20.0

$25.0

$30.0

FY11 FY12 FY13 Q1 14

Fiscal Year Results

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Net Income

$87.7$94.4

$100.4

$26.7

$0.0

$20.0

$40.0

$60.0

$80.0

$100.0

$120.0

FY11 FY12 FY13 Q1 FY14

EBITDA

$0.67

$1.12 $1.15

$0.28

$-

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

$1.40

FY11 FY12 FY13 Q1 FY14

Annual EPS

10

Financial Strength (millions)

Sept 30, 2012 Sept 30, 2013

Cash On Hand $3.4 $3.6

Bank Debt $ 28.6 $ 104.5

Balance Sheet Debt $234.8 $209.8

Operating Leases (NPV) $36.8 $22.6

Total Debt $300.2 $336.9

Net Worth $205.4 $234.3

Average Seated Tractors 2,736 3,024

Tractor Average Age 1.2 years 1.4 years

Trailer Average Age 2.3 years 2.4 years

State of the Truckload Industry

• Truckload industry is very fragmented

• Many small companies under stress

• Increased tractor and trailer costs

• Aging equipment

• Increased government regulations

– CSA

– Hours of Service

– EOBRs

• Volatile fuel prices

• Changing industry dynamics11

Truckload Industry Consolidation

• Equipment and operating financing is more costly and less

available

• Average OTR truck age is approx. 7 years

• Higher maintenance costs for older equipment

• Many companies do not have the capital to buy

new trucks or maintain old trucks

• Insurance is more costly and difficult to obtain 12

3-Year Old Truck$50,000

3-Year Old Truck$50,000

$45,000

$75,000

7-Year Old Truck$20,000

$105,000

$-

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

$140,000

2006 2012 2012

New Class 8 Truck Builds

$95,000

$125,000 $125,000

1.98

1.80M

1.90M

2.00M

2.10M

2.20M

2.30M

2006 2007 2008 2009 2010 2011 2012

Active Class 8 Tractor Units

6.6

5.2

5.4

5.6

5.8

6

6.2

6.4

6.6

6.8

2006 2007 2008 2009 2010 2011 2012

Avg Active Class 8 Tractor Age

Exiting Truckload Capacity

13% decrease

2006-2012

Source: Ward’s and A.C.T. Research

Celadon Statistics•Average Tractor Age: 1.4 years

•Average Trailer Age: 2.4 years

Increased costs of new

tractors & limited

financing options

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*Approximately 650,000 truckload units

275

0

50

100

150

200

250

300

350

400

2006 2007 2008 2009 2010 2011 2012

Class 8 Truck Builds

$1.350

$1.400

$1.450

$1.500

$1.550

$1.600

Rate Per Loaded Mile(Excludes Fuel Surcharge)

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Operating Improvements

Each 1¢ has an approximate annual impact

of $2.6 million in pre-tax profit or $.07 EPS

$116.8 $118.7 $131.4 $142.0

$31.3 $30.9 $31.2

$33.1

$-

$25

$50

$75

$100

$125

$150

$175

$200

Q2 FY13 Q3 FY13 Q4 FY13 Q1 FY14

Revenue Ex Fuel (Millions)

Revenue Fuel Revenue

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• Gain truckload market share by leveraging our

service offerings and customer relationships

• Improve asset productivity through enhanced

technology and investments in human capital

• Continue our cost containment initiatives

• Maintain our long haul and international focus

• Pursue acquisition opportunities

Strategy