Nicholas J. Randall (Executive Team as of April 2025; Board Member as of March 2025)

President and Chief Executive Officer (CEO) at FreightCar America

Board

Since May 1, 2024

Age

51 years

Education

Holds a Bachelor of Engineering in Manufacturing Systems Engineering from Liverpool John Moores University, U.K..

Tenure

Joined FreightCar America as COO on June 26, 2023; promoted to President and CEO on May 1, 2024, and became a Board Member in March 2025.

Also at FreightCar America

JRM(MaoM2

James R. Meyer (Board Member as of March 2025)

Executive Chairman of the Board

CRP(TaoA2

Celia R. Perez (Executive Team as of April 2025)

Vice President, General Counsel, and Corporate Secretary

JCFS(TaoA2

Juan Carlos Fuentes Sierra (Executive Team as of April 2025)

Corporate Controller and Chief Accounting Officer

About

Nicholas J. Randall has more than 20 years of global experience in engineering and manufacturing operations, having built his career at renowned companies in the automotive, aerospace, and industrial sectors.

He began his professional journey in various engineering roles and later advanced through leadership positions at companies such as Jaguar Land Rover Automotive, Alcoa Corporation, Arconic Corporation, and Precision Castparts Corporation.

Joining FreightCar America on 06-26-2023 as COO, he played a key role in managing operations and overseeing the development of critical manufacturing facilities. Later, he transitioned to the role of President and CEO on 05-01-2024, further demonstrating his leadership capabilities, and he has been serving on the Board since March 2025.

This objective background, combined with his technical expertise and proven operational excellence, underpins his contributions to the strategic direction and ongoing growth of the company.

$RAIL Performance Under Nicholas J. Randall (Executive Team as of April 2025; Board Member as of March 2025)

Past Roles

Organization	Role	Date Range	Details
FreightCar America, Inc. (RAIL)	Chief Operating Officer (COO)	June 2023 - May 1, 2024	Ended with promotion to President and CEO
Precision Castparts Corporation	Division Leader	2017 - 2023	Led a division
Alcoa Corporation / Arconic Corporation	Various Capacities	2007 - 2017	Served in multiple roles; note Arconic was formed from the split of Alcoa in 2016
Jaguar Land Rover Automotive	Engineering Roles	Before 2007	Held various engineering positions

Fixed Compensation

Data from FY 2024

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$550,000	Annual, effective May 1, 2024	Increased by 22% from $450,000 upon promotion to CEO
Board Compensation	Not provided	N/A	Specific board compensation details for 2024 are not provided
Executive Severance Plan	N/A	N/A	Participation since June 2023; benefits trigger on change in control or qualifying retirement with continued vesting of equity awards
Annual Equity Awards (Equity Awards under 2022 LTIP)	Stock Options: 144,900; Restricted Shares: 103,022	Granted in January 2024; Vesting – Options: three equal annual installments beginning January 4, 2025; Restricted Shares: vest on January 4, 2027	Time-based awards under the 2022 LTIP with no performance conditions
Promotional Equity Awards	Stock Options: 67,619; Restricted Shares: 48,077	Granted on May 1, 2024; Vesting – Options: three equal annual installments beginning May 1, 2025; Restricted Shares: vest on May 1, 2027	Granted in recognition of promotion to CEO; subject to the same time-based vesting conditions as annual awards
Relocation Expenses	N/A	Reimbursed as incurred	Reimbursement available for qualifying moving and relocation expenses

Performance Compensation

Data from FY 2024

Annual Cash Incentive Program for 2024

Metric	Weight (%)	Target Achievement	Additional Comments
Adjusted EBITDA	31.7%	190% of target	Reflects robust performance relative to target
Sales Goals	31.7%	20% of target	Achievement significantly below target
Operating Cash Flow	31.7%	200% of target	Exceeded performance expectations
Safety Goals	5%	200% of target	Surpassed the required safety standards

Overall Payout: The program resulted in a payout of 139.7% of the target.
Evaluation Period: Based on the fiscal year 2024 performance compared against the company’s business plan as established by the Compensation Committee.
Vesting & Payment: As a cash incentive program, payouts are determined at the end of the evaluation period without a vesting schedule.
Additional Details: There is no specified grant date fair value or stock price for this cash program as it is not equity-based; the performance metrics and weights are recalibrated annually to align with business plan targets.