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Investor Presentaiton

Capitalizing on Structural Change in the Rail Market Railcar Ownership is Shifting from Railroads to 100% Leasing Companies 90% 80% 70% 60% 50% 40% 30% 53% 48% 20% 43% 35% 10% 0% 1990s 2000s 2010s ■Lessor Railroad Shipper ■TTX Railcar Lessor Ownership Profile Presents Consolidation Opportunity Operating Lessors 14% 13% TRN 14% 14% 26% Financial Lessors 13% 6% 2019 Wells Fargo ■CIT SMBC ■ GATX ■ UnionTank ■ TRN ■ All other* The TrinityRail platform was ideally positioned to capture market share during shifting ownership dynamics, growing at a 13% CAGR since 2002 *Over 75 Lessors own 240K railcars in "All other" TRINITY INDUSTRIES See appendix for source info DELIVERING GOODS for THE GOOD of ALL III 26

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