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7/1/2020 Treasury to Provide Loan to YRC Worldwide | U.S. Department of the Treasury Treasury to Provide Loan to YRC Worldwide July 1, 2020 WASHINGTON – Today the U.S. Department of the Treasury announced that it intends to make a $700 million loan to YRC Worldwide Inc., and that it had reached an agreement with YRC on June 30, 2020, to receive a 29.6% equity stake in the company in connec on with the loan under Division A, Title IV, Sub tle A of the Coronavirus Aid, Relief, and Economic Security Act. Treasury’s determina on was based on a cer fica on by the Secretary of Defense that YRC is cri cal to maintaining na onal security. YRC is a leading provider of cri cal military transporta on and other hauling services to the U.S. government and provides 68% of less-than-truckload services to the Department of Defense. This loan will enable YRC to maintain approximately 30,000 trucking jobs and con nue to support essen al military supply chain opera ons and the transport of industrial, commercial, and retail goods to more than 200,000 corporate customers across North America. “We are pleased for Treasury to make this loan pursuant to the CARES Act,” said Secretary Steven T. Mnuchin. “This loan will enable a cri cal vendor to the Department of Defense to maintain significant employment while providing appropriate compensa on to taxpayers.” Subject to defini ve documenta on with the company and its exis ng lenders, Treasury intends to provide YRC with loans totaling $700 million, maturing on September 30, 2024. To provide proper taxpayer compensa on, Treasury will receive shares totaling 29.6% of YRC’s common stock on a fully diluted basis, to be held in a vo ng trust. The agreement will also include certain provisions to maintain employment levels and limit execu ve compensa on, dividends and share repurchases. https://home.treasury.gov/news/press-releases/sm1049 1/2 7/1/2020 Treasury to Provide Loan to YRC Worldwide | U.S. Department of the Treasury Full transac on details will be posted on www.Treasury.gov/CARES within 72 hours a er the transac on is completed. #### https://home.treasury.gov/news/press-releases/sm1049 2/2
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