TRINITY INDUSTRIES, INC. Q4 2022 – Earnings Conference Call Supplemental Materials February 21, 2023 – based on financial results as of December 31, 2022 Investor Contact: TrinityInvestorRelations@trin.net Website: www.trin.net DELIVERING GOODS for THE GOOD of ALL Forward Looking Statements Some statements in this presentation, which are not historical facts, are "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements abo ...

Financial Data and Key Metrics Changes - The fourth quarter GAAP EPS from continuing operations was $0.46, and adjusted EPS was $0.44, up $0.10 sequentially and $0.36 year-over-year [8] - For the full year, GAAP EPS was $1.02, and adjusted EPS of $0.94 was up 176% over 2021 [8][13] - Quarterly revenue of $591 million was up 25% compared to a year ago, and adjusted free cash flow of $138 million was up 394% [12][13] Business Line Data and Key Metrics Changes - Leasing segment revenue in the fourth quarter was $197 million, reflecting improved rates and net lease fleet investment activities [14] - Rail Products segment quarterly revenue was $656 million, up sequentially and year-over-year due to higher deliveries and favorable pricing [15] - The renewal success rate in the leasing segment was 85% in the fourth quarter, with an annual success rate of 82%, the highest since 2014 [14] Market Data and Key Metrics Changes - The future lease rate differential (FLRD) ended the year at 25.1%, indicating strong future rate growth in the leasing segment [9] - Railcar load volumes in 2022 were even with 2021, with markets like grain and automotive showing momentum, while chemical and metals faced headwinds [11] - The number of railcars in storage increased but remained well below the five-year average, indicating a tight fleet [11] Company Strategy and Development Direction - The company is focusing on sustainability as a core value and has ramped up ESG initiatives, including hiring a Global Head of ESG [6][7] - The company completed two acquisitions in 2022, including Holden America, to diversify revenue streams and enhance aftermarket parts exposure [21][22] - The company expects to deliver approximately 49% of its backlog in 2023, with a backlog valued at $3.9 billion [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2023, citing a strong backlog and expected improvements in rail service metrics despite ongoing labor shortages [10][19] - The company introduced 2023 EPS guidance of $1.50 to $1.70, reflecting anticipated higher deliveries and lease rates [9][28] - Management acknowledged challenges from supply chain disruptions and labor issues but remains confident in the company's ability to execute its three-year goals [20][29] Other Important Information - The company raised its quarterly dividend to $0.26 per share, an increase of approximately 13% [17] - The company approved a new share repurchase authorization of $250 million with no expiration [17] - The pretax return on equity (ROE) for the full year was 10.4%, a significant improvement from 3.4% in 2021 [18] Q&A Session Summary Question: Concerns about storage levels and lease renewal success rate - Management indicated that the increase in storage levels is seasonal and does not reflect significant weakness in the market, with a strong renewal success rate of 85% [30][31] Question: Understanding margin headwinds in rail manufacturing - Management explained that supply chain issues and labor shortages impacted margins, but they expect improvements as the year progresses [32][33] Question: Delivery expectations for 2023 - Management clarified that while industry deliveries are expected to be lower, they anticipate maintaining their market share, leading to an increase in their own deliveries [36][37] Question: Impact of storm recovery on margins - Management confirmed that storm recovery benefits were adjusted out, and supply chain disruptions had a more significant negative impact on margins [37] Question: Economic outlook and guidance risks - Management acknowledged economic challenges but emphasized strong utilization rates and a solid backlog, providing confidence in their guidance [48] Question: Cash flow expectations and capital allocation - Management indicated that cash flow generation remains strong, and capital allocation will prioritize dividends over share buybacks in 2023 [44][55]

Trinity Industries, Inc. (NYSE:TRN) Q3 2022 Earnings Conference Call October 25, 2022 8:00 AM ET Company Participants Leigh Anne Mann - Vice President of Investor Relations Jean Savage - Chief Executive Officer & President Eric Marchetto - Chief Financial Officer Conference Call Participants Allison Poliniak - Wells Fargo Justin Long - Stephens Matt Elkott - Cowen Bascome Majors - Susquehanna Steve Barger - KeyBanc Capital Markets Operator Good day and welcome to the Trinity Industries Third Quarter Results ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ . Commission File Number 1-6903 (Exact name of registrant as specified in its charter) Delaware 75-0225040 (State or Other Jurisdic ...

Financial Performance - Adjusted EPS from continuing operations was $0.34, up $0.20 sequentially and $0.16 year-over-year[5, 51] - Q3 2022 revenue was $497 million, an increase of 18%[10] - Q3 2022 free cash flow was $(42) million, a decrease of 127%[13] - The company benefited from $300 million in lease portfolio sales[34] Rail Market and Leasing Segment - FLRD remains positive at 11.0%, and fleet utilization increased to 97.9%[5, 17, 51] - Completed a $254 million railcar sale to Wafra, resulting in a gain of $25 million[5, 51] - YTD net investment in the lease fleet was $176 million[31, 34] - A multi-year railcar order increased the backlog to $4.1 billion[5, 51] Capital Allocation and Outlook - Open market repurchases in the quarter totaled $14 million[31] - The company anticipates industry deliveries of 40,000 to 50,000 railcars for FY 2022[48] - Net fleet investment for FY 2022 is projected to be $250 million to $300 million[48]

TRINITY INDUSTRIES, INC. Quarterly Investor Presentation August 4, 2022 – for the period ended June 30, 2022 DELIVERING GOODS for THE GOOD of ALL Forward Looking Statements and Other References Some statements in this presentation, which are not historical facts, are "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about Trinity's estimates, expectations, beliefs, intentions or strategies for the future, and the as ...

Trinity Industries, Inc. (NYSE:TRN) Q2 2022 Earnings Conference Call July 27, 2022 8:30 AM ET Company Participants Leigh Anne Mann - VP of IR Jean Savage - CEO and President Eric Marchetto - CFO Conference Call Participants Matt Elkott - Cowen Bascome Majors - Susquehanna Brady Lierz - Stephens Gordon Johnson - GLJ Operator Good day and welcome to Trinity Industries Second Quarter Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note, today's event is bei ...

TRINITY INDUSTRIES, INC. Q2 2022 – Earnings Conference Call Supplemental Materials July 27, 2022 – based on financial results as of June 30, 2022 Investor Contact: TrinityInvestorRelations@trin.net Website: www.trin.net DELIVERING GOODS for THE GOOD of ALL Forward Looking Statements Some statements in this presentation, which are not historical facts, are "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about Trini ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ . Commission File Number 1-6903 (Exact name of registrant as specified in its charter) Delaware 75-0225040 (State or Other Jurisdiction ...

Trinity Industries, Inc. (NYSE:TRN) Q1 2022 Earnings Conference Call April 27, 2022 8:30 PM ET Company Participants Leigh Anne Mann - Vice President of Investor Relations Jean Savage - Chief Executive Officer & President Eric Marchetto - Chief Financial Officer Conference Call Participants Bascome Majors - Susquehanna Matt Elkott - Cowen James Bardowski - GLJ Research Ken Newman - KeyBanc Capital Markets George Sellers - Stephens, Inc. Operator 00:04 Good morning, everyone, and welcome to the Trinity Indust ...