COVENANT LOGISTICS GROUP Business Summary

Covenant Logistics Group, Inc. (CVLG) operates as a premier provider of integrated third-party logistics (3PL) services, generating revenue through a diversified mix of asset-based and asset-light transportation solutions. The company’s business is organized into four primary segments: Dedicated, which provides contract-based fleet management; Expedited, focusing on high-service, time-sensitive long-haul freight; Managed Freight, encompassing brokerage and transportation management services; and Warehousing, which offers strategic storage and supply chain consulting. Additionally, Covenant maintains a significant minority investment in Transport Enterprise Leasing (TEL), a profitable equipment sales and leasing venture. Positioned as a specialized player in the North American market, Covenant ranks among the top 40 for-hire carriers and competes directly with industry giants such as Knight-Swift Transportation, Schneider National, J.B. Hunt, and Werner Enterprises by focusing on high-value, service-intensive niches rather than commoditized freight. The company was founded in 1986 by David R. Parker, who continues to serve as Chairman and Chief Executive Officer, bringing over four decades of industry experience to the leadership team. The executive suite includes President Paul Bunn, who oversees strategic operations; James "Tripp" S. Grant III, serving as Executive Vice President and Chief Financial Officer; and Dustin Koehl, who joined as Chief Operating Officer in 2024 to drive operational efficiency. Technology initiatives are led by Eric Whitton, Senior Vice President of Technology. Covenant’s governance is supported by a high-profile Board of Directors, which includes notable members such as former U.S. Cabinet Secretary Dr. Benjamin Carson and former company President Joey B. Hogan. As of early 2026, the company maintains high institutional ownership of approximately 84%, reflecting strong market confidence in its strategic shift toward dedicated contract growth and balance sheet deleveraging.