Slide 1: 2026 Company Overview
2026 COMPANY OVERVIEW
Slide 2: Table of Contents
Table of Contents SECTION SLIDE NO. History and Business Overview 4 Railcar Leasing Business Model 14 Rail North America 21 Rail International 39 Engine Leasing 49 Trifleet 54 Financial Highlights 57 Reconciliation of Non-GAAP Measures 63 2
Slide 3: Forward-Looking Statements
Forward-Looking Statements Statements in this presentation not based on historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and, accordingly, involve known and unknown risks and uncertainties that are difficult to predict and c
Slide 4: History and Business Overview
History and Business Overview
Slide 5: Forward Vision Statement
VI SI ON STATEMENT EMPOWERING OUR CUSTOMERS TO PROPEL THE WORLD FORWARD 5
Slide 6: 125+ Year History
125+Year History Began Began Exited Formed Rolls- Began rail Formed GATX manufacturing listing on railcar Royce & Partners investments Engine Leasing railcars the NYSE manufacturing Finance affiliates in India (GEL) Acquired ~101,000 Acquired 100% railcars ownership in through Established European r
Slide 7: GATX Business Segments
GATX Business Segments RAIL NORTH AMERICA RAIL INTERNATIONAL ENGINE LEASING TRIFLEET ▪ A premier railcar lessor in North ▪ GATX Rail Europe (GRE) is a ▪ Composed of our 50% ownership in ▪ One of the largest tank container America with a diversified fleet of leading European tank car and the Rolls-Ro
Slide 8: GATX's Strong Global Presence
GATX’s Strong Global Presence GATX Primary Rail Operations Footprint GATX Headquarters Locations ▪ GATX Corporation Headquarters (Chicago, IL) ▪ GATX Rail Europe (Vienna, Austria) ▪ GATX Rail India (Gurgaon, India) ▪ Trifleet (Dordrecht, Netherlands) Major Maintenance Facilities Rolls-Royce & Partne
Slide 9: Capital Allocation Framework
Capital Allocation Framework Priority 1 Investment Volume* $1,800 $1,665 $1,674 $1,600 Invest in long-lived, widely used, service-intensive $1,400 $1,256 $1,317 assets while maximizing $1,200 $1,132 $1,064 shareholder value MILLIONS $1,000 $928 $800 $723 $621 $589 $600 $11 billion of investments ove
Slide 10: Capital Allocation Framework
Capital Allocation Framework Leverage and Reduction Priority 2 8.0x of Secured Assets 50% Maintain solid investment grade ratings; currently 40% 6.0x rated Baa1/BBB+/BBB* 30% 4.0x Optimize the balance sheet 20% 3.3x 2.0x 10% Maintain capacity for opportunistic investments 0.0x 0% 2003 2005 2007 2009
Slide 11: Capital Allocation Framework
Capital Allocation Framework Cumulative Cash Returned Priority 3 $1,500 to Shareholders Return excess cash to shareholders $1,000 MILLIONS $500 Over the past decade, approximately $1.4 billion returned to shareholders $0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Cumulative Dividends Cumulati
Slide 12: GATX Financial Highlights
GATX Financial Highlights Diluted Earnings per Share attributable to GATX, excluding tax adjustments and other items (non-GAAP)* $8.75 $7.89 $7.07 $5.77 $6.07 $4.67 $4.89 $5.06 $4.41 $4.59 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Return on Equity attributable to GATX, excluding tax adjustme
Slide 13: We Believe GATX is a Compelling Investment Opportunity
We Believe GATX is a Compelling Investment Opportunity Market Leadership in Disciplined Management Team Essential Businesses Globally Long-term focused and experienced in managing through business cycles Leading positions across the markets in which we operate Superior Asset Allocation Highly divers
Slide 14: Railcar Leasing Business Model
Railcar Leasing Business Model
Slide 15: Proven Business Model
Proven Business Model BUY LEASE the railcar at an economically the railcar to a quality customer attractive and competitively at an attractive rate for a term advantaged price at the right time that reflects the business cycle SERVICE MAXIMIZE the railcar in a manner that the value of the railcar ma
Slide 16: Business Model: Buy
Business Model: BUY $1,200 GATX North American Rail Acquisition Source $1,000 $800 MILLIONS $600 $400 $200 ADVANTAGE $0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Committed Order Spot Order Secondary Market DISCIPLINED COMPETITIVE OPPORTUNISTIC BEST-IN-CLASS INVESTMENT APPROACH ASSET COST INV
Slide 17: Business Model: Buy
Business Model: BUY GATX’S RAILCAR Acquiring railcars from a variety of sources SOURCING STRATEGY rather than manufacturing internally GATX’s Railcar Benefits of GATX’s Sourcing Options Railcar Sourcing Strategy ▪ Large, multi-year orders ▪ Access to attractively priced for new cars railcars ▪ Spot
Slide 18: Business Model: Lease
Business Model: LEASE Customers value GATX for our diverse fleet, deep technical expertise, and superior ongoing service HIGH FLEET S T R O N G C U S T OME R U T I L I Z A T I ON RELATIONSHIPS ▪ Focus on keeping the fleet deployed, adjusting ▪ Deploy a large sales force to service and rates and leas
Slide 19: Business Model: Service
Business Model: SERVICE GATX has established a strong market position through a focus on full-service leasing in North America and Europe MAINTENANCE ENGINEERING TRAINING TECHNOLOGY REGULATORY ▪ Customers utilize GATX to ▪ GATX’s engineering team ▪ GATX provides training at our ▪ MyGATXRail.com prov
Slide 20: Business Model: Maximize
Business Model: MAXIMIZE GATX maximizes fleet value through ongoing portfolio optimization, including secondary market sales and scrapping. A fleet of cost-advantaged, well-maintained modern railcars leased to high-quality customers enables GATX to generate meaningful remarketing income across cycle
Slide 21: Rail North America
Rail North America
Slide 22: GATX Rail North America Overview
GATX Rail North America Overview 2025 WHOLLY OWNED CAR TYPE AVERAGE LOCOMOTIVE NUMBER OF COUNTRIES OF FLEET COUNT COUNT FLEET AGE COUNT CUSTOMERS OPERATION U.S., Canada & OVERVIEW 107,600+ ~170 17 years 620+ 800+ Mexico Fleet Utilization* 14% 100% 99% Chemicals 28% 4% Refiners & Other 98% Petroleum
Slide 23: Wells Fargo Rail Portfolio Acquisition
Wells Fargo Rail Portfolio Acquisition On January 1, 2026, GATX completed the acquisition of Wells Fargo’s rail operating lease portfolio through a joint venture with Brookfield Infrastructure (“Brookfield”) Adds ~101,000 railcars to GATX’s North American platform for a purchase price of ~$4.2 billi
Slide 24: Rail North America: Fleet Portfolio Remains Well-Diversified Post-Acquisition
Rail North America: Fleet Portfolio Remains Well-Diversified Post-Acquisition Pre-Wells Fargo Rail Acquisition Post-Wells Fargo Rail Acquisition Specialty Specialty Tank, 4% Tank, 2% Other, 8% Other, 9% Gravity Boxcars, General Service Covered Open Top, 5% Tank, 20% Hoppers: <4k 5% cubic feet, 5% Ge
Slide 25: Industry Ownership: North America
Industry Ownership: North America Market Share Approximately 1.65 million railcars RAILROADS LESSORS SHIPPERS TTX ▪ Ownership of railcars continues ▪ Shift from railroad- and shipper- ▪ Shipper ownership share has ▪ Railroad-owned equipment pool to decline owned railcars to lessors declined slightly
Slide 26: Industry Fleet and Ownership Mix: North America Tank Car Ownership Share
Industry Fleet and Ownership Mix: North America Tank Car Ownership Share Railcars by Type (Approximately 1.65M railcars) 17% <1% 5% Lessor Shipper/Other <1% Railroad 6% Based on approximately 446K tank cars 9% 83% 35% 18% Freight Car Ownership Share 15% Lessor 27% Railroad 17% 48% Shipper/Other TTX
Slide 27: Lessor Market Share
Lessor Market Share: North America Tank Car Lessor Ownership Share 12% Lessor Ownership Share 19% (Based on approximately 950K lessor-owned railcars) GATX 10% Union Tank Car 19% Trinity AITX 10% GATX 30% CIT 22% Other 29% 19% Based on approximately 369K lessor-owned tank cars 22% GATX Freight Car Le
Slide 28: Industry Commodity Carloadings
THOUSANDS 500 1,000 1,500 2,000 2,500 0 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 Source: Association of American Railroads 1Q10 2Q10 3Q10 4Q10 1Q11 Core Carloads 2Q11 3Q11 4Q11 1Q12 2Q12 North America 3Q12 4Q12 1Q13 2Q13 3Q13 Coal & Coke 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q1
Slide 29: Industry Backlog: North America
Industry Backlog: North America Industry Cyclicality Reflected in Railcar Manufacturer Order Backlogs 160,000 Industry Backlogs 140,000 120,000 100,000 80,000 60,000 40,000 20,000 - ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12 ’13 ’14 ’15 ’16 ’17 ’18 ’19 ’20 ’21 ’22 ’23 ’24 ’25 Number of
Slide 30: Historical Comparison of Industry Production
Historical Comparison of Industry Production: North America Recent railcar production metrics are muted compared to the prior two production peaks 160,000 120,000 80,000 40,000 31,205 23,431 20,361 - 12/31/2025 12/31/2014 9/30/2006 2025 2015 2006 2025 2014 2006 Backlog BACKLOG Deliveries DELIVERIES
Slide 31: GATX Rail North America: Actively Managing Through Cycles
GATX Rail North America: Actively Managing Through Cycles GATX adjusts our offered term structure of rates based on market conditions—maximizing lease term during strong markets and preserving future remarketing optionality during weaker markets STRONG MARKET WEAK MARKET STRONG MARKET WEAK MARKET ST
Slide 32: GATX Rail North America: Diverse Fleet
GATX Rail North America: Diverse Fleet CAR TYPE COMMODITIES CARRIED % OF FLEET % of NBV General Service Tank Cars: Liquid fertilizers, asphalt, food-grade oils 15.9% 11.7% 20k-25k gallon General Service Tank Cars TA N K C A R S Food-grade oils, lubricating oils, light chemicals 11.8% 10.8% >25k gall
Slide 33: GATX Rail North America: Maintenance Network
GATX Rail North America: Maintenance Network GATX Has a Strong Reputation for Safety, Integrity, and Superior Execution EXTENSIVE CUSTOMERS RELY RANGE OF MAINTENANCE NETWORK ON GATX SERVICES ▪ Seven maintenance facilities ▪ GATX Rail North America ▪ Routine maintenance and strategically located thro
Slide 34: GATX Rail North America: Maintenance Network
GATX Rail North America: Maintenance Network Recent shop investments have increased the number of repairs completed within GATX’s owned maintenance network, which we believe is the most efficient in the industry All while continuing to prioritize and maintain the highest level of safety and quality
Slide 35: GATX Rail North America: Diverse Customer Portfolio
GATX Rail North America: Diverse Customer Portfolio Credit Ratings of the Top 50 Customer Families* GATX serves more than 4% 800 individual customers 24% Largest customer represents less than 7% of total lease revenue Average relationship tenure of 72% top 10 customers is 51 years Investment Grade T
Slide 36: GATX Rail North America: Training and Regulatory Participation
GATX Rail North America: Training and Regulatory Participation Deep Knowledge on Training Industry Regulations and Safety GATX employees are actively GATX has delivered tank car involved in numerous regulatory operations and safety training committees and trade and supplier through our one-of-a-kind
Slide 37: GATX Rail North America: Technology Focus
GATX Rail North America: Technology Focus RailPulse is a coalition of forward-thinking railcar owners who have joined together to facilitate and accelerate the adoption of GPS and other telematics technology across the North American railcar network. RailPulse is creating a new railcar telematics te
Slide 38: Locomotive Leasing
GATX Rail North America: Locomotive Leasing GATX owns more than 620 locomotives 10% KEY ATTRIBUTES Four-Axle Locomotives Six-Axle Locomotives GATX Four-Axle Locomotive Six-Axle ▪ Low/Medium Horsepower ▪ Mostly High Horsepower Fleet Mix ▪ Typically used in lighter-duty ▪ Typically used in mainline ap
Slide 39: Rail International
Rail International
Slide 40: GATX Rail International Overview
GATX Rail International Overview FLEET AVERAGE FLEET NUMBER OF PRIMARY COUNTRIES 2025 COUNT Europe (GRE): 36,400+ AGE (GRE) CUSTOMERS OF OPERATION Germany, Poland, India, Austria, OVERVIEW 17 years ~320 Switzerland, France, Hungary, Romania, India: 12,100+ The Netherlands, Belgium GATX Rail Europe (
Slide 41: Industry Snapshot: Europe
Industry Snapshot: Europe Railcar Ownership* 1 Balanced Manufacturing Footprint (Based on approximately 670K railcars) Manufacturing supply and industry demand generally in balance Older Industry Fleet 2 39% Key segments continue to offer opportunities to replace aging, lower capacity, and less effi
Slide 42: Estimated Industry and Fleet Ownership: Europe Tank Car Ownership Share
Estimated Industry and Fleet Ownership: Europe Tank Car Ownership Share Railcars by Type (Approximately 670K railcars) 1% 28% Lessor Railroad & Privately Owned Based on approximately 119K tank cars 22% 25% 72% 15% Freight Car Ownership Share 19% 18% 32% Lessor Open Wagons Intermodal Wagons Railroad
Slide 43: Estimated Lessor Market Share: Europe
Estimated Lessor Market Share: Europe Tank Car Lessor Ownership Share 2% 7% Lessor Ownership Share GRE 26% (Based on approximately 263K lessor-owned railcars) 13% VTG Ermewa 26% Wascosa GRE Touax 14% 13% 23% Other Based on approximately 86K lessor-owned tank cars 39% 4% 14% GRE Freight Car Lessor Ow
Slide 44: GATX Rail Europe (GRE): Major Rail Markets
GATX Rail Europe (GRE): Major Rail Markets Over 70% of GRE’s revenue is generated in Germany, Poland, and Austria— markets with strong freight rail transport economies 3% 3% 9% Countries Served 10% Industries Served 3% 31% Germany Hungary 15% Freight & Intermodal 4% Poland Romania 39% Mineral Oil 6%
Slide 45: GATX Rail Europe (GRE): Diverse Customer Portfolio
GATX Rail Europe (GRE): Diverse Customer Portfolio GRE’s newer and higher capacity railcar fleet attracts top-tier customers Credit Ratings of Top 20 Customer Families* Diverse customer base with approximately 300 customers 1 2 25% 9 of top 10 customers have done business with us for over 20 years,
Slide 46: GATX Rail Europe (GRE): Service Offerings
GATX Rail Europe (GRE): Service Offerings MAINTENANCE ENGINEERING ASSEMBLY SUPPORT MODERNIZATION ▪ Focused on maximizing ▪ Decades of engineering ▪ Ability to assemble new ▪ Comprehensive, ▪ Over the last 10 years, railcar availability for experience railcars for GRE at its customer-focused GRE has
Slide 47: Industry Overview: India
Industry Overview: India Indian Railways has implemented several initiatives aimed at increasing the country’s freight rail modal share Rail Freight Transport Railcar Ownership (Based on approximately 410K railcars) SIGNIFICANT POTENTIAL GOVERNMENT INITIATIVES ▪ Large railway network historically ▪
Slide 48: GATX Rail India Overview
GATX Rail India Overview GATX obtained the first-ever wagon leasing license in India in 2012 and is the largest private railcar lessor in the country GATX’s Growth in India Key Attributes $400 $60 High Growth Opportunity 1 $350 $50 Actively seeks attractive investment opportunities to grow $300 and
Slide 49: Engine Leasing
Engine Leasing
Slide 50: Engine Leasing Overview
Engine Leasing Overview SPARE ENGINE AVERAGE ESTIMATED TYPICAL RRPF FLEET 2025 COUNT FLEET AGE USEFUL LIFE LEASE TERM UTILIZATION RRPF: 456 RRPF: 11 years OVERVIEW 25-30 years 5-12 years 98.7% GEL: 46 GEL: 5 years Rolls-Royce & Partners Finance (RRPF) affiliates RRPF NBV: The RRPF affiliates, our 50
Slide 51: Aircraft Spare Engine Leasing Industry
Aircraft Spare Engine Leasing Industry Aircraft spare engines are Percentage of Industry’s attractive and reliable leasing Aircraft Spare Engines assets Leased Rather Than Owned ▪ Robust residual value characteristics Has Increased Over Time* ▪ Typically retain value better over the long term compar
Slide 52: RRPF Affiliates Overview
RRPF Affiliates Overview RRPF’s portfolio consists of 456 aircraft ROLLS-ROYCE & PARTNERS spare engines with a net book value of $5.8 FINANCE (RRPF) billion, of which GATX owns 50% GATX’s Share of RRPF Pre-Tax Income 3% Excluding Tax Adjustments and Other Items (Non-GAAP) 8% 4% $150 31% $125 14% RRP
Slide 53: GATX Engine Leasing (GEL) Overview
GATX Engine Leasing (GEL) Overview GATX ENGINE GEL reflects GATX’s wholly owned aircraft LEASING (GEL) spare engine leasing assets GEL owns 46 aircraft spare engines with a net 14% book value of $1.04 billion ▪ 21 engines are on long-term leases with airline customers GEL 16% ▪ 25 engines are employ
Slide 54: Trifleet
Trifleet
Slide 55: Trifleet Overview
Trifleet Overview FLEET AVERAGE ESTIMATED TYPICAL NUMBER OF PRIMARY COUNTRIES 2025 COUNT 25,600+ owned FLEET AGE USEFUL LIFE LEASE TERM CUSTOMERS OF OPERATION Singapore, China, OVERVIEW and managed tank 8 years 15-25 years 1-5 years ~300 Germany, The containers Netherlands, U.S. 1% Trifleet Attribut
Slide 56: Industry Ownership and Market Share
Industry Ownership and Market Share Industry Ownership Top Lessors Ownership Share* (Based on global tank container fleet of approximately 882K) (Based on approximately 382K tank containers in leasing company fleets) 7% 21% 22% 43% 3% 3% Trifleet 57% 7% 6% 8% 19% 11% Operators & Shippers Lessors* Tr
Slide 57: Financial Highlights
Financial Highlights
Slide 58: Financial Profile Summary
Financial Profile Summary FUNDING AND CAPITALIZATION EARNINGS AND ASSET LIQUIDITY AND LEVERAGE PROFITABILITY QUALITY ▪ Strong, stable, and ▪ Strong balance sheet; ▪ Proven strategy of investing ▪ Market leader in railcar predictable cash flow mostly unsecured debt and generating attractive leasing w
Slide 59: Financial Highlights: High-Quality and Consistent Cash Flows
Financial Highlights: High-Quality and Consistent Cash Flows GATX Contractual Future Lease Receipts* Operating Cash Flow & Portfolio Proceeds** $923 $853 $833 $1,349 $804 $793 $275 $224 $719 $231 $694 $1,096 $676 $270 $273 $620 $234 $187 $888 $568 MILLIONS $875 $250 $166 MILLIONS $131 $655 $468 $648
Slide 60: Financial Highlights: Strong Balance Sheet
Financial Highlights: Strong Balance Sheet Leverage & Reduction of Secured Assets* Future Debt Obligations** Sold aircraft $5,605 leasing business; 8.0x reduced leverage 50% and % of secured assets 40% 6.0x $3,660 MILLIONS Stable leverage post-2006 30% 4.0x 20% 3.3x 2.0x 10% $855 $907 $825 $653 0.0x
Slide 61: Financial Highlights: Focus on Balance Sheet Optimization
Financial Highlights: Focus on Balance Sheet Optimization Over the past 15 years, GATX has lowered borrowing costs while lengthening the average borrowing term Cost of Debt & Borrowing Term 7% 10 9 6% 6.0% 8 8.2 5% 7 4.8% 6 4% 5 3% 4 2% 3.7 3 2 1% 1 0% 0 2009 2010 2011 2012 2013 2014 2015 2016 2017
Slide 62: Financial Highlights: Consistent Growth in Asset Base
Financial Highlights: Consistent Growth in Asset Base Net Plant, Property, and Equipment $11.4 $10.4 8.7% CAGR $9.4 $8.3 $7.6 $7.1 $6.1 $6.3 BILLIONS $5.8 $5.4 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Rail North America Rail International Engine Leasing* Trifleet As of 12/31/2025 *Excludes
Slide 63: Appendix: Reconciliation of Non-GAAP Measures
Appendix: Reconciliation of Non-GAAP Measures
Slide 64: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Net Income (in millions) 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Net income (GAAP) $ 257.1 $ 502.0 $ 211.3 $ 211.2 $ 151.3 $ 143.1 $ 155.9 $ 259.2 $ 284.2 333.3 Less: Net income from discontinued operations (GAAP) n/a 34.2 20.8 30.4 1.1 - - - - - Net inc
Slide 65: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Earnings per Share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Diluted earnings per share from continuing operations (GAAP) $ 6.29 $ 11.88 $ 4.98 $ 4.97 $ 4.24 $ 3.98 $ 4.35 $ 7.12 $ 7.78 9.12 Diluted earnings per share from discontinued operations (GAAP) n/
Slide 66: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures On- and Off-Balance Sheet Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Total assets (GAAP) $ 7,105.4 $ 7,422.4 $ 7,616.7 $ 8,285.1 $ 8,937.6 $ 9,541.7 $ 10,072.0 $ 11,326.0 $ 12,296.5 17,999.5 Off-balance sheet assets (1): Rail North America 456.5 435.