Investor Presentaiton

Key Demand Fundamentals: Attrition and Replacement 600 500 400 300 200 100 Rail Equipment Fleets Vary in Age Based on Cycle Dynamics 0 (in '000s) 0-10 Years 11-20 Years 21-30 Years 31-40 Years 41-50 Years Tankcar Flat Cars Box Cars TRINITY INDUSTRIES See appendix for source info ■ Covered Hoppers ■Open Hoppers/Gondolas ■Specialty Freight DELIVERING GOODS for THE GOOD of ALL III 74

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