Trinity Industries, Inc. (NYSE:TRN) Q3 2020 Earnings Conference Call October 22, 2020 11:00 AM ET Company Participants Jessica Greiner - VP, IR & Communications Jean Savage - CEO & President Eric Marchetto - CFO Conference Call Participants Bascome Majors - Susquehanna Matt Elkott - Cowen Gordon Johnson - GLJ Research Allison Poliniak - Wells Fargo Justin Long - Stephens Steve Barger - KeyBanc Capital Markets Operator Good day and welcome to the Trinity Industries’ Third Quarter Results Conference Call. At ...

Trinity Industries, Inc. (NYSE:TRN) Q2 2020 Results Conference Call July 23, 2020 12:00 PM ET Company Participants Jessica Greiner - VP, IR & Communications Jean Savage - CEO & President Melendy Lovett - CAO Eric Marchetto - CFO Conference Call Participants Steve Barger - KeyBanc Capital Matt Elkott - Cowen James Bardowski - GLJ Research Justin Long - Stephens Allison Poliniak - Wells Fargo Bascome Majors - Susquehanna Barry Haimes - Sage Asset Management Operator Welcome to the Second Quarter Results Confe ...

UNITED STATES SECURITIES AND EXCHANGE CO. 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, 2020 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 of Inco ...

2Q 2020 – Earnings Conference Call Supplemental Material July 23, 2020 – based on financial results as of June 30, 2020 Investor Contact: TrinityInvestorRelations@trin.net Website: www.trin.net 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 Trinity's estimates, expectations, beliefs, intentions or strategies ...

Financial Data and Key Metrics Changes - The company reported a significant focus on cost structure optimization, with a target reduction of $25 million to $30 million in administrative costs, achieving $9 million to $10 million in the first quarter [30][31] - The company expects to receive $300 million in tax refunds due to the CARES Act, enhancing its liquidity position [24][52] - As of the end of the first quarter, the company had committed available liquidity of $760 million [52] Business Line Data and Key Metrics Changes - The Leasing Group's revenue and profit from operations grew year-over-year due to an increase in the lease fleet and higher average lease rates [41] - The Rail Products Group delivered over 3,700 railcars in the first quarter while reducing production capacity [42] - Lease fleet utilization declined to 95.4%, with new railcar orders totaling 1,970 railcars for the quarter [43] Market Data and Key Metrics Changes - The company noted significant declines in rail volumes, leading to underutilized railcar equipment, but identified agricultural markets as a bright spot for rail equipment demand [45] - Approximately 80% of customers operate as essential businesses, which has helped maintain some level of demand [44] - The company removed approximately 540 tank cars from its backlog due to changes in customer financial conditions [47] Company Strategy and Development Direction - The company is focused on aligning its cost structure with current demand and optimizing its balance sheet through leveraging its lease fleet [34][55] - Management is committed to maintaining long-term goals despite the current challenging environment, emphasizing the importance of business continuity and capital preservation [29][60] - The company plans to provide a broader strategic roadmap in the third quarter call [61] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to withstand the economic crisis caused by COVID-19, citing the long-term nature of leasing contracts as a protective factor [22][26] - The company is conducting scenario analyses to guide capital allocation decisions amid market uncertainty [62] - Management acknowledged that achieving long-term targets may take longer due to current market conditions [80] Other Important Information - The company has a diverse lease fleet of approximately 130,000 railcars, providing visibility into lease and fee income [53] - The company has unencumbered assets of approximately $1.5 billion available for monetization [54] - The company has maintained its dividends, paying out its 224th consecutive quarterly dividend [68] Q&A Session Summary Question: Commentary on lease rates and trends - Management noted that the increase in lease rates was influenced by portfolio changes, but headwinds on lease rates are expected to continue [75] Question: Thoughts on secondary market dynamics - The company sold about $110 million worth of railcars in the first quarter, but future transactions may depend on market conditions [76] Question: Focus on utilization versus lease rates - The company is currently prioritizing utilization over lease rates, as customer needs dictate the demand for railcars [77] Question: Update on return on equity targets - Management indicated that achieving long-term targets will be challenging but remains committed to them [80] Question: Headcount savings and cost reduction plans - The headcount savings are included in the overall cost savings target, with further reductions possible if the downturn extends [81] Question: Guidance on operating cash flow - Management expects positive operating cash flow, supported by natural working capital gains and tax benefits [82] Question: Utilization and balance sheet optimization - Management stated that there is no set target for fleet utilization before taking action to manage the fleet [88] Question: Production rates and delivery expectations - Management indicated that the second quarter is expected to be more challenging than the first quarter [126]

(Exact name of registrant as specified in its charter) Delaware 75-0225040 UNITED STATES SECURITIES AND EXCHANGE CO. 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 MARCH 31, 2020 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 (State or Other Jurisdiction of Inc ...

1Q 2020 – Earnings Conference Call Supplemental Material April 30, 2020 – based on financial results as of March 31, 2020 Investor Contact: TrinityInvestorRelations@trin.net Website: www.trin.net 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 Trinity's estimates, expectations, beliefs, intentions or strategi ...

Trinity Industries, Inc. (NYSE:TRN) Q4 2019 Earnings Conference Call February 20, 2020 11:00 AM ET Company Participants Jessica Greiner - VP, IR and Communications Jean Savage - CEO and President Eric Marchetto - SVP and Group President, TrinityRail Melendy Lovett - SVP and CFO Conference Call Participants Justin Long - Stephens Matt Elkott - Cowen Allison Poliniak - Wells Fargo Bascome Majors - Susquehanna Gordon Johnson - GLJ Research Steve Barger - KeyBanc Capital Markets Douglas Greiner - Wilbanks, Smit ...

(State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-6903 (Exact name of registrant as specified in its charter) Delaware ...

Trinity Industries, Inc. (NYSE:TRN) Q3 2019 Earnings Conference Call October 24, 2019 11:00 AM ET Company Participants Jessica Greiner – Vice President-Investor Relations and Communications Tim Wallace – Chief Executive Officer and President Eric Marchetto – Senior Vice President and Group President-TrinityRail Melendy Lovett – Senior Vice President and Chief Financial Officer Paul Mauer – President-TrinityRail Products Conference Call Participants Bascome Majors – Susquehanna Matt Elkott – Cowen Justin Lon ...