Tranche Update on P.A.M. Transportation Services, Inc.'s Equity Buyback Plan announced on January 19, 2022.

P.A.M. Transportation Services, Inc. is a holding company. The Company, through its subsidiaries, is engaged in providing truckload dry van carrier services transporting general commodities throughout the continental United States, as well as in the Canadian provinces of Ontario and Quebec. The Company’s subsidiaries also provide transportation services in Mexico through its gateways in Laredo and El Paso, Texas, under agreements with Mexican carriers. Its freight consists primarily of automotive parts, expedited goods, consumer goods, such as general retail store merchandise, and manufactured goods. Its truckload services are performed by Company divisions that generally utilize Company-owned trucks, long-term contractors, or single-trip contractors to transport loads of freight for customers, while its brokerage and logistics services coordinate or facilitate the transport of loads of freight for customers and generally involve the utilization of single-trip contractors.