JEFFBOAT ANNOUNCES PLANT CLOSURE

MARCH 26, 2018 - JEFFERSONVILLE, INDIANA

Jeffboat announced Monday morning the pending closure of its shipyard

operations in Jeffersonville, Indiana. Following recent Worker Adjustment
and Retraining Notification Act (WARN) notices of November 1, 2017 and
February 1, 2018 announcing layoffs, Jeffboat president and CEO Mark
Knoy said they will finish construction of barges by the first of
May. Following the closure, Jeffboat will be reviewing the best alternative
uses for the 65 acres of riverfront property currently occupied by the shipyard.

Over an 80 year history here in Jeffersonville, Jeffboat’s skilled workers have built 12,900
vessels. The majority of these vessels were towboats and barges that deliver cargoes throughout the
inland river system. Over this time, Jeffboat has been known for its quality of barge and boat
construction, and has enjoyed a

strong following of customers over its long history. In recent years, Jeffboat’s workforce has been as
high as 1,300 teammates.

Unfortunately, the current barge market is in an over-supply situation and the outlook for new barge
construction is very poor for the foreseeable future. As a result, Jeffboat has seen its barge
construction demand drop significantly over the last three years, and its workforce has shrunk to just
220 teammates today. With orders running out and no future backlog of business, the shipyard will
launch its last barge sometime in the middle of April.

Knoy acknowledged the great relationship and strong support Jeffboat has had within the local
community and with Teamster Local 89. “Our great teammates have made the difference over time
in delivering a quality product to our customers, and I want to thank them for their commitment to
excellence.”

While American Commercial Lines owns Jeffboat, it also owns American Commercial Barge Line LLC
(ACBL). “While we’re very sorry that market conditions have left us with no choice but to close
Jeffboat.” Knoy said, “The shipyard closure will not have an impact on ACBL’s barge freight business
or its customers, vendors and teammates.” ACBL is one of the nation’s largest and most diversified
barge carriers, operating 3,600 barges and 140 boats that transport nearly 60 million tons of our
nation’s building blocks, grain exports and fuels and chemicals across our 12,000-mile inland
waterways system upon the Mississippi River from the Great Lakes to New Orleans, along the Gulf
coast from Texas to Florida, and to major transportation and manufacturing hubs along the Illinois
Waterway, and the Ohio River and its tributaries.

American Commercial Lines