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Investor Presentaiton

A Sustainable Capital Story: Reinvestment & Capital Return Drive Shareholder Value A growing stream of cash flow from Trinity's platform creates shareholder value: Reinvestment into the business when expected returns are above our hurdle rates Return capital to shareholders through consistent dividends and opportunistic share repurchases $20.00 $17.50 $15.00 $12.50 $10.00 Dec-15 Mar-16 TRINITY INDUSTRIES Jun-16 Value Growth CAGR = 13% Sep-16 Dec-16 Mar-17 Jun-17 LTM BV Per share* Sep-17 Dec-17 Mar-18 Jun-18 * See appendix for footnotes Sep-18 ■Cumulative Dividend per share Dec-18 Mar-19 Jun-19 DELIVERING GOODS for THE GOOD of ALL III 47 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20

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