Economic losses from natural disasters attributed to climate change were nearly $750 billion over the last five years.1 Studies expect a temperature increase of just 2°C to cost over $38 trillion annually by 2050.2 Climate change is associated with systemic and enterprise risks including supply chain disruptions, lost productivity, and infrastructure damage. ArcBest notes in its 10-K that climate change “could disrupt our operations… damage existing infrastructure, destroy our assets, affect regional economies, or disrupt fuel supplies…, which could adversely affect our business.”3 Climate change increases the frequency and severity of weatherrelated infrastructure damage that has cost the trucking industry billions of dollars in one week.4 ArcBest’s 10-K also states that the physical risks of climate change may increase the cost and decrease the availability of insurance, which “could have a material adverse effect on results of operations and financial condition.”5 CARFAX estimated that Hurricane Helene resulted in 138,000 flood-damaged vehicles across six states.6 Insurers are passing on rising costs, and auto insurance rates have risen faster than the rate of inflation over the past 15 years.7 ArcBest further recognizes that concerns over climate change have led to legislative efforts that impose substantial costs and may adversely impact operations.8 These regulations include fuel efficiency standards and requirements for manufacturers to increasingly sell zero-emission trucks. ArcBest’s Asset-Based segment, which accounts for most of the Company’s revenue, is likely to be impacted by these regulations.9 While ArcBest discloses its Scope 1 and 2 greenhouse gas (GHG) emissions and actions to reduce emissions from its equipment and services, it has not set a GHG emissions reduction target.10 Competitors including J.B. Hunt, Knight-Swift Transportation, FedEx, and C.H. Robinson have set GHG reduction targets,11 and J.B. Hunt and Knight-Swift Transportation are among companies with targets that achieved greater annual GHG emissions intensity reductions between 2021 and 2023.12 To appropriately respond to its climate-related risks and opportunities, protect long-term shareholder value, and remain competitive,
investors believe ArcBest should take action to catch up with peers and mitigate the physical, transition, and regulatory risks associated with the global shift to a clean energy economy.

1
https://www.ncei.noaa.gov/access/billions/
2
https://epic.uchicago.edu/news/climate-change-may-cost-38-trillion-a-year-by-2049-study -says/
3
https://d18rn0p25nwr6d.cloudfront.net/CIK-0000894405/ad0911f7-95f4-458a-af38-e3d5d174ef7a.pdf, 32
4
https://www.unepfi.org/wordpress/wp-content/uploads/2024/05/Climate-Risks-in-the-Transportation-Sector-1.pdf, 41
5
https://d18rn0p25nwr6d.cloudfront.net/CIK-0000894405/ad0911f7-95f4-458a-af38-e3d5d174ef7a.pdf, 30
6
https://www.carfax.com/press/hurricane-helene
7
https://yaleclimateconnections.org/2025/01/nobodys-insurance-rates-are-safe-from-climate-change/
8
https://d18rn0p25nwr6d.cloudfront.net/CIK-0000894405/ad0911f7-95f4-458a-af38-e3d5d174ef7a.pdf, 28
9
https://d18rn0p25nwr6d.cloudfront.net/CIK-0000894405/ad0911f7-95f4-458a-af38-e3d5d174ef7a.pdf, 5,12
10 https://s203.q4cdn.com/716791110/files/doc_downloads/2025/2024-Impact-Report.pdf, 20-21
11
https://www.jbhunt.com/our-company/esg/environmental-sustainability; https://www.knighttrans.com/corporate-responsibility/;
https://www.fedex.com/en-us/sustainability.html; https://www.chrobinson.com/-/media/chrglobal/documents/esg-report/chr-esg-reportenglish.pdf, 15
12
https://www.usatoday.com/story/news/nation/2025/04/21/earth-day-2025-americas-climate-leaders/83033618007/