Saia Inc: Broader Trend is Favorable; Headwind from Labor Costs

研报英文原文证据摘录

Saia Inc: Broader Trend is Favorable; Headwind from Labor Costs

o the relation with a Foreign Bank. UBS Asesores is registered

under number 30060-001-(14115)-21/06/2016 and subject to the supervision of the Mexican Banking and Securities Commission ("CNBV") exclusively regarding the

rendering of (i) portfolio management services, (ii) securities investment advisory services, analysis and issuance of individual investment recommendations, and (iii) anti-

money laundering and terrorism financing matters. This UBS publication or any material related thereto is addressed only to Sophisticated or Institutional Investors located in

Mexico. Research reports only reflect the views of the analysts responsible for the report. The compensation of the analyst(s) who prepared this report is determined

exclusively by research management and senior management of any entity of UBS Group to which such analyst(s) render(s) services. Monaco: This document is not intended

to constitute a public offering or a comparable solicitation under the Principality of Monaco laws, but might be made available for information purposes to clients of UBS

(Monaco) S.A., a regulated bank having its registered office at 2 avenue de Grande Bretagne 98000 Monaco operating under a banking license granted by the “Autorité de

Contrôle Prudentiel et de Résolution” (ACPR) and the Monegasque government which authorizes the provision of banking services in Monaco. UBS (Monaco) S.A. is also

licensed by the “Commission de Contrôle des Activités Financières” (CCAF) to provide investment services in Monaco. The latter has not approved this publication.

Philippines: This communication was done so as a result of a request received by UBS from you and/or persons entitled to make the request on your behalf. Should you have