Investor Presentaiton

Historical Business Segment Performance Trends Leading railcar leasing and services provider • 105,925 railcars ($7.3B of net PP&E) in owned fleet . Future committed lease revenue of $2.0B • Leased railcar backlog of 4,060 railcars ($430M value) fully committed by future railcar leases Additional revenue sources through platform Portfolio sales through secondary market or Railcar Investment Vehicle (RIV) transactions Management fee income from administrative, maintenance, and other service fees Leading railcar manufacturer in North America Leasing Operations Revenue and Operating Profit Margin (1) $800 50% $750 40% $700 30% $650 20% $600 10% $550 $500 0% 2016 2017 2018 2019 LTM (in $mms) Leasing Operations Revenue OP Margin Rail Products Segment Revenue and Operating Profit Margin • LTM Deliveries of 16,175 railcars - approx. 35% of industry shipments $3,500 15% $3,000 • LTM Orders of 7,395 railcars - approx. 33% of industry 12% $2,500 • Backlog of $1.2B for 10,050 railcars 9% $2,000 $1,500 6% Highly variable cost structure Material input costs averaged more than 70% of the cost of most railcars in 2019 Depreciation approximates $39M per year $1,000 3% $500 $0 0% (in $mms) 2016 2017 2018 2019 LTM Rail Products Revenue Maintenance Services Revenue OP Margin TRINITY INDUSTRIES See appendix for footnotes DELIVERING GOODS for THE GOOD of ALL /// 64

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