INVESTOR PRESENTATION. August 2018

INVESTOR PRESENTATION August 2018 1

DISCLAIMER Forward-Looking Statements Certain statements in this presentation, other than purely historical information, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that include the words "expect," "intend," "plan," "believe," "project," "anticipate," "will," "may," "would" and similar statements of a future or forward-looking nature may be used to identify forward-looking statements. All forward-looking statements address matters that involve risks and uncertainties, many of which are beyond Triton International Limited s ( Triton ) control. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements. These factors include, without limitation, economic, business, competitive, market and regulatory conditions and the following: decreases in the demand for leased containers; decreases in market leasing rates for containers; difficulties in re-leasing containers after their initial fixed-term leases; customers' decisions to buy rather than lease containers; dependence on a limited number of customers for a substantial portion of our revenues; customer defaults; decreases in the selling prices of used containers; extensive competition in the container leasing industry; difficulties stemming from the international nature of our businesses; decreases in the demand for international trade; disruption to our operations resulting from the political and economic policies of the United States and other countries, particularly China, including increased tariffs; disruption to our operations from failures of or attacks on our information technology systems; compliance with laws and regulations related to economic and trade sanctions, security, anti-terrorism, environmental protection and corruption; ability to obtain sufficient capital to support our growth; restrictions on our businesses imposed by the terms of our debt agreements; changes in the tax laws in the United States and other countries; and other risks and uncertainties, including those risk factors set forth in the section entitled Item 1A "Risk Factors" beginning on page 14 of Triton International Limited s Annual Report on Form 10-K for the year ended December 31, 2017, as updated from time to time by Triton International Limited s Quarterly Reports on Form 10-Q or other comments by Triton International Limited on file with the United States Securities and Exchange Commission. The foregoing list of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and elsewhere. Any forward-looking statements made herein are qualified in their entirety by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on Triton or its business or operations. Except to the extent required by applicable law, we undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. 2

Business Overview 3

INTRODUCTION Triton is the world s premier container leasing company Triton has numerous advantages that boost our growth and returns, and are difficult for competitors to replicate Triton is using favorable market conditions to drive strong current performance Triton is well positioned to create long-term value 4

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 CEU (Millions) Cumulative Dividends ($MM) CORPORATE SNAPSHOT Leading Position in Consolidating Industry Financial Performance Resilient Beacon 6% SeaCube 6% CAI 6% Other 9% Triton 27% $300 $250 $200 $150 $100 $50 8 7 6 5 4 3 2 1 0 Seaco 12% Florens 18% Textainer 16% Source: Drewry Container Census & Lease Industry Annual Report 2018/19, based on fleet size in TEU at end-2017; figures exclude containers owned by shipping lines and other. Steady Fleet Growth CAGR: 8.2% $0 (1) See Footnote 2 in the Appendix. $25.00 $20.00 $15.00 $10.00 $5.00 $- Q1 '17 Q2 '17 Q3 '17 Q4'17 Q1 '18 Q2 '18 (1) Cash Flow Before Capex Significant Dividend Cumulative dividends over 129% of TAL 2005 IPO price Adjusted Net Income 5

TRITON CONTAINER FLEET AND LEASE PORTFOLIO Container Fleet % of Revenue Q2 2018 Triton Position (1) Drys 66% #1 Refrigerated 26% #1 Core Specials 5% #1 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Lease Portfolio (NBV) 14.5% 11.7% 7.7% 9.6% 73.9% 75.8% 3.9% 2.9% Jun-17 Jun-18 Service Leases Long-Term Expired Lease (Units On-Hire) Long-Term Lease Finance Lease Chassis and Specialty Products 3% Top 5 Large Majority of Containers On Long-Term Leases with Average Remaining Duration of 43 Months as of 6/30/18 (1) Source: Drewry Container Census & Lease Industry Annual Report 2018/19, IICL and ITCO. 6

CURRENT OPERATING PERFORMANCE Triton s operating performance was strong in the second quarter, with pick-up activity accelerating into the peak season» Net container pick-up activity near record levels in May and June» Utilization remains very high» Used container sale prices increased due to very low inventory of sale containers Market conditions remain favorable» Customers achieving solid volume growth and most continue to rely heavily on leasing» Supply of containers remains well controlled» New container prices remain in the range of $2,200 for a 20 dry container We are on track to have another successful year of value-added investment and growth» Benefitting from high share for leasing and outperformance by Triton» Projected lifetime equity returns for new lease transactions in mid-teen range, with average initial lease duration of approximately 7 years 7

WELL POSITIONED TO CREATE LONG-TERM VALUE Attractive Market Fundamentals Naturally resilient market with favorable supply / demand and pricing dynamics Significant Competitive Advantages Scale, cost, supply capability, and global marketing and operating advantages drive outperformance Compelling Growth Prospects Numerous market and Triton-specific growth levers support organic growth at a multiple of global GDP growth High Investment Returns Favorable market dynamics and Triton outperformance sustain high investment ROEs Strong, Stable Cash Flow Underpins shareholder returns and provides financial stability 8

Market Conditions 9

MARKET OVERVIEW Market conditions remain favorable Demand for Triton containers is strong» Solid trade growth» Continued secular shift towards leasing» Preference to work with Triton Container supply is well controlled» Moderate level of new container inventory» Limited availability of used leasing containers Competitors active, but landscape improved Container prices stable 10

Growth Rate CONTAINERIZED TRADE GROWTH PROJECTED TO REMAIN SOLID Global GDP and Trade Growth 8% 6% 4% 2% 0% 2012 2013 2014 2015 2016 2017 2018E Container Trade Growth Global GDP Growth Sources: Container Trade Growth 2012-2016: Alphaliner Monthly Monitor June 2018. Container Trade Growth 2017-2018E: average of estimates from Alphaliner Monthly Monitor June 2018 and Clarksons Container Intelligence Monthly June 2018. GDP Growth: International Monetary Fund, July 2018 World Economic Outlook Update and earlier editions of the same report. 11

ALL MAJOR TRADES PERFORMING WELL 2017 Growth Transpacific +5.8 % North-South +6.5 % Other +6.4 % Other East-West +4.6 % FE-Europe +4.4 % Source: Clarksons Research, April 2018. 12

U.S.-CHINA TRADE IMPORTANT, BUT NOT THE MAJOR DRIVER OF CONTAINER DEMAND Vessel Capacity Deployed by Trade Lane Unassigned and Idle ANZ/Oceania 3% 4% Eur N. Am 4% Intra Europe 4% Sub Saharan Africa 8% Intra Far East 13% Far East Eur 21% Far East N. Am 17% Latin America 13% Middle East/India 13% U.S.-China trade actions would impact subset of Transpacific trade Some portion of reduced U.S.-China bilateral trade would be re-routed, rather than eliminated Source: Alphaliner Monthly Monitor July 2018. 13

INCREASING SHARE FOR LEASING Leasing Provides Multiple Benefits Improves container efficiency» Pick-up flexibility reduces need to maintain safety inventories» Drop-off flexibility allows quicker adjustment to fleet size, container mix and container locations Reduces capital requirements Allows lines to benefit from leasing companies container expertise» Production quality control» Container financing» Container re-sale Leasing Increasing Share vs. Ownership Shipping lines allocating scarce capital to strategic vessel and terminal investments» Profitability challenged by persistent excess capacity» Aggressive investment in mega vessels and owned terminals to reduce costs Cost of leasing shrinking vs. cost of direct purchase» Increased scale, improved systems reducing lessors overhead allocations» Lessors higher leverage and efficient financing structures improving relative ownership cost 14

TEU (MM) Leasing Company (%) TEU (MM) Leasing Company (%) CONVERSION TO LEASING GENERATES INCREMENTAL DEMAND New Container Production World Container Fleet and Leasing Share 5 70% 50 60% 4 60% 40 50% 50% 40% 3 40% 30 30% 2 30% 20 20% 20% 1 10% 10 10% 0 0% 0 0% Leasing Company Owned Shipping Line Owned Leasing (%) Leasing Company Owned Shipping Line Owned Leasing (%) Leasing 60% of Annual Production vs. 50% Overall Fleet Share to Yield Leasing Market Growth 1-2% Above Global Trade Growth Source: Drewry Container Census & Lease Industry Annual Report 2018/19 and Triton management estimates. 15

CUSTOMER CONSOLIDATION FAVORS LARGEST SUPPLIERS Market Dominated by Mega Carriers And Triton Is The Preferred Supplier (1) (1) (2) Triton estimates that it has a #1 position with (3) :» Each of the top 5 carriers» 8 of the top 10 carriers Top 10 customers have leased containers from the Company for over 30 years on average (1) (1) Relationships at multiple levels and regions with our customers (1) Solid line indicates merger recently completed. (2) Dashed line indicates merger is currently in process. (3) Carriers with announced but uncompleted acquisitions counted separately. 16

China Dry New Production Inventory (TEU) Triton s Asia Inventory (TEU) CONTAINER SUPPLY WELL CONTROLLED Container inventory tight heading into peak season» Factory supply only 2% of overall fleet, and virtually zero middle-aged equipment in Asia» Even with no fleet growth, ~1% of containers are retired per quarter Short order cycle (2-3 months) and fleet attrition prevent extended periods of excess supply 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 Favorable Total Supply Environment New Dry Factory Inventory Triton s Dry Depot Lease Inventory in Asia 250,000 200,000 150,000 100,000 50,000 - Shipping Inventory Leasing Inventory Sources: Shipping and Leasing Factory Inventory estimates provided by commonly used informal surveys by factory inspectors. Unbooked Asia Dry Inventory Source: Internal container management reports. Booked Asia Dry Inventory 17

MERGER SET A NEW STANDARD ACROSS CONSOLIDATING LANDSCAPE Pre-Merger Leasing Share (1) Current Leasing Share (1) Beacon 5% Dong Fang 5% Cronos 5% Other 12% Textainer 17% Triton 12% Beacon 6% SeaCube 6% CAI 6% Other 9% Triton 27% CAI 6% Seacube 7% Seaco 7% Florens 11% TAL 13% Seaco (incl Cronos) 12% Textainer 16% Florens (incl Dong Fang) 18% (1) Source: Drewry Container Census & Lease Industry Annual Report 2016 and 2018/19, based on fleet size in TEU at end-2015 and end-2017; figures exclude containers owned by shipping lines and other. 18

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 CONTAINER PRICES STABLE, THOUGH MARGINS FOR MANUFACTURERS LOW 20 Dry Newbuild and Steel Price Trends 20 Dry Newbuild Price Less Steel Input Cost $3,000 $1,500 $2,500 $1,250 $2,000 $1,000 $1,500 $750 $1,000 $500 $500 $250 Current 20 Dry Newbuild Price: $ 2,170 2 Tons per 20 Container @ $630/ton of HRC: $ 1,260 Newbuild Price less Steel: $ 910 $- $- 20' Price 20' Steel Input Cost 20' Price Less Steel Cost 19

Triton Advantages 20

TRITON INVESTMENT ADVANTAGES Triton benefits from both industry-leading capabilities and lowest unit costs Triton s cost and capability advantages drive out-performance» Incremental growth opportunities» Higher returns Triton also benefits from attractive industry fundamentals Triton s growth and returns compare favorably to other similar businesses 21

MULTIPLE DRIVERS OF ORGANIC GROWTH Contributing Growth Factors 10% Strong Secular Trends for the Industry Product Line Extensions Market Share Gains Shift from Ownership To Leasing Sale- Leasebacks Increased Containerization Global Trade Growth Global GDP Triton Upside Opportunities US GDP 22

MOST CAPABLE GLOBAL INFRASTRUCTURE...AT THE LOWEST UNIT COST Global Capabilities Drive High Lifetime Value Scale Advantages Lead to Lowest Unit Costs Large, consistently available ready inventory leads to extra growth and better average deal terms 12% Extensive global marketing capability drives high lifetime utilization 10% Textainer CAI Global operating infrastructure controls depot network quality and cost 8% Aggressive production QC effort helps maximize container useful life 6% Triton Leading team of container re-sale specialists allows Triton to sell in more locations and for better prices 4% 2% Triton Textainer CAI S&A as a Percent of Leasing Revenue (1) (1) Based on financials for the second quarter 2018. Textainer includes short-term and long-term incentive compensation expense. CAI for container leasing segment only. 23

TRITON S ADVANTAGES SUSTAIN HIGH RETURNS VS PEERS Scale Advantages Triton Metric Est. Peer Range Equity IRR Impact Lowest cost structure (S&A as % of revenue) 5-6% 8-10% 1-2% Service Level Advantages Better lease structuring (% return to surplus areas) 0% 30% 2% Better average pricing for new units + $0.00 - $0.02 0%-1% Operating / Infrastructure Advantages Higher contribution from older units 10% 0.5%-1% Longer leasing life (average sale age) 15 years 10-13 years 1-2.5% Extra margin on disposals (sale price vs. market Index) + $100 0.5% Cumulative Equity IRR Impact 5-9% Our Operating Advantages Lead to High Investment IRRs and ROEs Probability of Outcome Peers 5-9% Triton Investment IRR 24

ATTRACTIVE LONG-TERM BUSINESS FUNDAMENTALS» Pick-up / drop-off flexibility a valuable service customers will pay for Favorable Pricing Dynamics» Reliable access to container supply main selection factor; critical to customers revenue but low cost» Need for global infrastructure creates meaningful barrier to entry Strong Lifecycle Performance» Low risk of technological obsolescence; limited age discrimination» Strong residual value protection Naturally Resilient from Supply Cycles» Ordering lead time only 2-3 months; annual replacements 4-5%» High percentage of containers on multi-year leases Sustainable Advantages for Leading Players» Meaningful cost economies of scale» Extensive supply capability and global operating infrastructure critical 25

Average Annual Return on Assets (EBIT / Total Assets) Average Annual Return on Assets (EBIT / Total Assets) OUTPERFORMANCE COMPARED TO OTHER SECTORS 7% 10 Year 5 Year Average Annual Growth in Revenue Earning Assets 2008-2017 -10% -5% 0% 5% 10% 15% 8% Triton 7% Average Annual Growth in Revenue Earning Assets 2013-2017 -10% -5% 0% 5% 10% 15% 8% Rental Companies 6% Railcar Leasing Rental Companies Aircraft Leasing (1) 6% Railcar Leasing Triton Aircraft Leasing (1) 5% 5% 4% 4% Containership Chartering 3% Containership Chartering 3% 2% 2% 1% 0% Commercial Finance Container Shipping 1% 0% Commercial Finance Container Shipping -1% -1% Triton: Reflects combined financials for TAL and TCIL; Aircraft Leasing: Aercap, Aircastle, FLY, Airlease; Containership Chartering: SSW, DAC, CMRE; Container Shipping: NYK, Kline, MOL, OOCL; Rental Companies: H&E Equipment, McGrath, Mobile Mini, Ryder, URI; Commercial Finance: CIT Group, Marlin; Railcar Leasing: GATX. Data from FactSet, except for Triton. (1) REA growth excludes AerCap acquisition of ILFC from AIG in 2014. 26

Financial and Operating Performance Overview 27

PERFORMANCE OVERVIEW All of our product lines are performing well» Key metrics strong» Trends positive Triton s current financial performance strong» Rapid sequential growth in profitability since Q3 2016» Generating attractive return on investment Strong and stable cash flow drives shareholder value and provides financial stability Business model resilient» Supply self-corrects quickly» Several actions implemented to reduce exposure to market risk 28

TRITON S KEY OPERATING METRICS STRONG 100% Ending Quarterly Utilization (CEU) Ending Quarterly Utilization (CEU) 120% Dry Lease Rate Index (CEU) Overall Lease Rate Index (CEU) 98% 100% 96% 80% 94% 92% 60% 90% 40% Dry Container Pick-up / Drop-off Activity (Units) (1) 250,000 200,000 150,000 100,000 50,000 0 (50,000) (100,000) Dry Container Pick-up / Drop-off Activity (Units) (excluding Sale Leaseback) 150% 140% 130% 120% 110% 100% 90% 80% 70% 60% 50% Used Dry Container Sales Price Index Used Dry Container Sales Price Index (1) Pick-Ups Drop-Offs Net 20' Price Index 40'HC Price Index (1) Excludes Sale-leaseback units. 29

Q4 '07 Q4 '08 Q4 '09 Q4 '10 Q4 '11 Q4 '12 Q4 '13 Q4 '14 Q4 '15 Q4 '16 Q4 '17 Net Debt as % of REA $ Per Share 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Q2'18 Annualized ($MM) STRONG, STABLE CASH FLOW DRIVES STEADY VALUE CREATION Cash Flow Before CapEx (1)(2)(3) Steady Value Creation (5) $1,500 $1,250 $60 $1,000 $750 $500 $50 $250 $0 $40 Cash Flow Before CapEx (1) See Footnote 1 in the Appendix. (2) See Footnote 2 in the Appendix. (3) Reflects purchase accounting adjustments for 2017 and Q2 2018 annualized only. $30 100% Net Debt as % of REA (Q4 07 Q2 18) (4) $20 90% 80% Financial Crisis Surplus Period $10 70% 60% 50% $- Q1 Q1 Q1 Q1 Q1 '06 '07 '08 '09 '10 Book Value Per Share Cumulative Dividends Per Share Q1 '11 Q1 '12 Q1 '13 Q1 '14 Q1 '15 Q1 '16 Q1 '17 Q1 '18 Adjusted Tangible Book Value Per Share (4) All periods exclude purchase accounting adjustments. Net Debt defined as Total Debt plus Equipment Purchases Payable less Cash and Restricted Cash. (5) Adjusted tangible book value defined as Shareholders Equity, less Goodwill plus Net Deferred Tax Liability plus Net Swap Liability, before purchase accounting adjustments. 30

Q4'08 Q4'09 Q4'10 Q4'11 Q4'12 Q4'13 Q4'14 Q4'15 Q4'16 Q4'17 CapEx ($MM) Utilization SHORT ORDER CYCLE PROVIDES FINANCIAL STABILITY AND LEADS TO MARKET RESILIENCE CapEx and Utilization (Q4 08 Q2 18) (1) $900 $800 $700 Financial Crisis Surplus Period 100% 98% $600 96% $500 $400 94% $300 92% $200 $100 90% $0 88% CapEx Utilization (1) CapEx from Cash Flow Statements. 31

EQUITY CASH FLOW SUPPORTS BOTH DIVIDENDS AND GROWTH CAPEX ($ in 000s, except per share data) Q2 18 Annualized Adjusted EBITDA $1,250,508 Principal Payments on Finance Leases 59,308 NBV of Container Disposals 133,812 Major Cash In Flows $1,443,628 Interest Expense $314,140 Cash Flow Before Capex 1,129,488 Replacement Capex (1) 728,692 Steady-state Cash flow $400,796 Per share $4.97 Cash Flow Yield (2) 13.9% Dividends Per Share $2.08 Dividends $167,762 Dividend Yield (2) 5.8% Cash Flow for Growth Capex $233,034 Leverage on Growth Capex 75.0% Asset Growth Potential at Constant Leverage ($) $932,134 Asset Growth Potential at Constant Leverage (%) 10.0% (1) Represents depreciation, NBV of disposals and principal payments on finance leases. (2) Based on closing stock price of $35.79 on August 8, 2018. Internal cash flows, at constant leverage, support high levels of growth 32

WELL STRUCTURED BALANCE SHEET Conservative Financing Strategy Minimal interest rate risk» 82% of total debt either fixed rate or swapped to fixed» Average remaining duration of fixed rate debt of ~4.2 years (includes swaps), which exceeds average lease duration Low refinancing risk» Focus on long duration debt» Well-staggered debt maturities» Cash flows before capex sufficient to meet near-term debt repayments, even with no roll-over Access to multiple funding sources» Utilize ABS, bank and private placement markets to diversify debt sources» Raised over $1.4 billion year-to-date High Percentage of Fixed-rate Debt (1) Staggered Maturity Profile (1,5,6) Fixed / Hedged Balance (2) Average Life (yrs) (3) Average Rate (4) Fixed Rate $4,819 4.3 4.24% Hedged Floating Rate 1,225 4.1 3.88% Total Fixed / Hedged 6,044 4.2 4.17% Unhedged Floating Rate 1,310 4.11% Total Debt 7,355 4.16% % of Debt Fixed / Hedged 82.2% (1) As of 6/30/18, $ in millions. (2) Balances gross of debt discounts at issuance. (3) Weighted by expected swap notional and principal balances at the end of each month. (4) Rate excludes the impact of debt discount amortization, deferred financing cost amortization and purchase accounting adjustments. (5) Pro forma for term loan extension that closed after 6/30/18. (6) See Footnote 2 in the Appendix. $2,000 $1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $0 2018 2019 2020 2021 2022 Principal Payments 2Q '18 Annualized Cash Flow Before CapEx 33

TAKING ACTIONS TO REDUCE IMPACT OF MARKET RISK Extending lease durations» Average tenor of leases over 7 years in 2017 and 2018 Staggering lease maturities» For large volume of recent transactions, duration ranges from 5-11 years Tightening logistics» Require redelivery of leasable equipment back to the highest demand locations Focusing on lifecycle leases» Reduces repricing risk because the box is returned at sale age» Extends average expected life of unit 34

Conclusion 35

STRATEGIC PRIORITIES Extend Competitive Distance from Peers Exploit Incremental Growth Opportunities Product offerings Global service capability Operating efficiency and costs Financing sources Further penetration of leasing vs. direct purchase Sale-leaseback transactions Specialty container types Selective M&A Reduce Earnings Exposure to Market Risk Extend and stagger initial lease durations Shift more customers to lifecycle leases Enhance lease protections Optimize Capital Allocation Support market growth and dividend as first priority Allocate excess equity cash flows to best use 36

INVESTMENT HIGHLIGHTS Attractive Market Fundamentals Naturally resilient market with favorable supply / demand and pricing dynamics Significant Competitive Advantages Scale, cost, supply capability, and global marketing and operating advantages drive outperformance Compelling Growth Prospects Numerous market and Triton-specific growth levers support organic growth at a multiple of global GDP growth High Investment Returns Favorable market dynamics and Triton outperformance sustain high investment ROEs Strong, Stable Cash Flow Underpins shareholder returns and provides financial stability 37

Appendix 38

LONG TERM LEASE EXPIRATIONS MANAGEABLE Dry Refrigerated Percent of Fleet 5.0% 3.6% 5.2% 2.9% 2.3% 5.4% Percent of Fleet 2.0% 1.4% 2.0% 2.5% 2.5% 1.9% Notes: - MCEU Market Cost Equivalent Unit reflects an adjustment to CEU levels to reflect current reefer prices. - Excludes dry and reefer containers that will be 13 years or older upon expiration. 39

RECONCILIATION OF NON-GAAP FINANCIAL INFORMATION 40

RECONCILIATION OF NON-GAAP FINANCIAL INFORMATION (Dollars in thousands) 2017 Q2 18 Annualized Income before income taxes $260,252 $490,572 Add (subtract): Unrealized gain on derivative instruments (1,397) (444) Insurance recovery income (6,764) - Write-off of debt costs 6,973 2,012 Transaction and other costs (income) 9,272 (4) Net gain on sale of building - (83,812) Less: Income attributable to non-controlling interest 8,928 7,532 Adjusted pre-tax income 259,408 400,792 Interest expense 283,247 314,140 Depreciation and amortization expense 500,720 535,576 Adjusted EBITDA 1,043,375 1,250,508 Principal payments on finance leases 60,673 59,308 NBV of container disposals 154,932 133,812 Major cash in flows 1,258,980 1,443,628 (1) Interest expense 283,247 314,140 Cash flow before capex $975,733 $1,129,488 (1) Net gain on sale of building in Q2 2018 was $21.0 million. 41

FOOTNOTES 1. The combined financial information from 2016 and prior periods does not reflect results on a GAAP basis. GAAP financial statements reflect only the TCIL operations prior to the merger on July 12, 2016, and can be found in the Company s 10-Q and 10-K filings. 2. Cash Flow Before CapEx defined as Adjusted EBITDA (defined as net income before interest and debt expense, income tax expense and depreciation and amortization, and excludes transaction costs, net loss (gain) on interest rate swaps, insurance proceeds, gain on sale of building and the write-off of deferred financing costs) less interest and debt costs plus NBV of disposals and principal payments on finance leases. 42