TITAN Q3 Earnings Presentation
Strong Balance Sheet & FCF Supports Capital Optionality
Full-Year FCF* & Leverage Ratio**
☐
Product innovation (R&D)
■ One Titan team development
11.5x
6.4x
$9
$36
Free Cash Flow
Leverage Ratio
$114
$143
2.9x
1.1x
1.0x
$(28)
2019
2020
2021
2022
TTM
Commitment to Maintain Conservative Leverage Posture
TITAN
Organic
Growth
☐
Expand manufacturing capabilities
■ Grow customer relationships
Balanced Capital
Allocation,
Focused on
Driving Long-
Capital
Returns
Term Value
Strategic
M&A
■ Active $50M share
repurchase program
*Free Cash Flow defined as Operating Cash flow less Capex
**Leverage Ratio calculated by Net Debt/TTM Adj. EBITDA
Highly selective in core markets
Increase market penetration
Distribution JVs and/ or
investments
■ Off-take relationships
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