Penske Truck Leasing is Fastenal’s Electric Vehicle Support Partner for New Pilot

WINONA, Minn., February 26, 2020 – Each business day, Fastenal trucks fuel up before heading out to deliver industrial and construction supplies to surrounding branches and customer locations. For one recent addition to the Fastenal fleet, there's a new twist to this daily ritual: Instead of fueling up for its delivery route, this particular truck is charging up.

As part of its sustainable distribution efforts, Fastenal is now running a battery electric Freightliner eM2 straight truck to service branches in the Los Angeles metro area. The venture stems from a collaboration between Penske Truck Leasing and Daimler Trucks North America to test commercial electric trucks in real-world situations and drive future improvements to the technology.

The eM2 began service in the Fastenal fleet in early January, making deliveries of wide-ranging products to 28 Fastenal branches and customer-specific Onsite locations – from Los Angeles to coastal Orange County to the Inland Empire.

"We're excited to help move this technology forward," said Dan Florness, Fastenal's president and CEO. "It adds a new dimension to our own sustainability efforts, and we believe it can offer some insights to help bring electric trucks into wider commercial use."

The eM2 is ideally suited for local transportation of goods as well as for last-mile deliveries – a good fit for Fastenal's customer-centric distribution model, providing a consistent flow of product from regional hubs, to local markets, and ultimately to customers' points of use. The truck is part of Freightliner's Electric Innovation Fleet, a 30- vehicle test fleet of Class 6/7 and Class 8 trucks being used to test the integration of battery electric trucks in large commercial fleets.

"We're committed to helping customers like Fastenal accelerate innovation within their truck fleet operations," said Art Vallely, president of Penske Truck Leasing. "Fastenal is an innovative industry leader, and they're now using the latest, leading-edge electric vehicle technology available on the road today through Penske's co-creation efforts with the Freightliner Electric Innovation Fleet."

About Penske Truck Leasing

Penske Truck Leasing is a Penske Transportation Solutions company headquartered in Reading, Pennsylvania. A leading global transportation services provider, Penske Truck Leasing operates more than 326,000 vehicles and serves customers from more than 1,100 locations in North America, South America, Europe, Australia and Asia. Product lines include full-service truck leasing, contract maintenance, commercial and consumer truck rentals, used truck sales, transportation and warehousing management and supply chain management solutions. Visit www.pensketruckleasing.com to learn more.

About Fastenal

Fastenal helps customers simplify and realize product and process savings across their supply chain. We sell a broad offering of products spanning more than nine major product lines – from fasteners and tools to safety and janitorial supplies. These products are efficiently distributed to manufacturing facilities, job sites, and other customer locations through local service teams and point-of-use inventory solutions, including industrial vending technology and bin stock programs (Fastenal Managed Inventory, or FMI® ). Our distribution system centers on over 3,200 inmarket locations (a combination of public branches and customer-specific Onsite locations), primarily in North America but also in Asia, Europe, and Central and South America, each providing tailored inventory, flexible service, and custom solutions to drive the unique goals of local customers. These in-market servicing locations are supported by fifteen regional distribution centers, a captive logistics fleet, robust sourcing, quality and manufacturing resources, and multiple teams of industry specialists and support personnel – all working toward Fastenal's common goal of Growth Through Customer Service®.

Additional information regarding Fastenal is available on the Fastenal Company website at www.fastenal.com.