Investor Presentation - May 2026

INVESTOR PRESENTATION - May 2026 NYSE: TWI

Titan International Overview

WHAT WE DO ( OUR 3 SEGMENTS)

Segment Revenue1

•

•

•

Agriculture - tires & wheels for all types of Ag equipment from tractors &

harvesters to sprayers, planters and irrigation pivots.

Earthmoving / Construction (EMC) - undercarriages (including steel tracks), wheels and tires for earthmoving, mining, construction & forestry equipment.

Consumer - tires and wheels for outdoor power equipment, power sports, and high-speed trailers; custom rubber mixing.

Ag EMC Consumer

1 Segment revenue split is based on Mar'26 TTM

2 Enterprise Value and Market Cap as of 4/28/26

Titan's Operating Strategy

"Our One Stop Shop strategy enables us to provide the ultimate solutions for our customers and to serve them better than anyone in the industry."

- Paul Reitz, Titan CEO

What does this do for Titan?

Enhanced Financial Performance Vs. Prior Cyclical Troughs

Adj. Gross Margin

+230

BPS

2017 2018

2021 2022 2023 2024 2025

Prior Trough

Mar'26

TTM

Adj. EBITDA ($M) +4%

CAGR

$73

$38

2019 2020

2019 2020

• TTM production volume is more than 15% below the prior cyclical trough (2019 -2020) levels.

  2017 2018

  Prior Trough

  2021 2022 2023 2024 2025 Mar'26

  TTM

• Despite the significant volume reduction, Titan has been able to maintain meaningfully higher margins.

• TTM Gross Margin of 13.9% demonstrates an improvement of ~430bps compared with the prior cyclical low in 2019/2020.

• TTM AEBITDA of $102M vs an average of

  $46M in 2019/2020.

  *Adjusted EBITDA and Gross Margin Reconciliations back to 2022 can be found on slides 25 and 26 of the presentation.

  Path to $250M Midcycle Adj. EBITDA

  FY 2025
  Revenue	$1,828M
  Gross Profit	13.9%
  Gross Margin	$254M
  Adj. EBITDA	$102M

  Return To Midcycle Volumes
  Revenue	~$400M
  Gross Profit	~$100M
  Gross Margin	~25%
  Adj. EBITDA	~$100M

  Synergies + Growth Initiatives
  Revenue	~$200M
  Gross Profit	~$50M
  Gross Margin	~25%
  Adj. EBITDA	~$50M

  Baseline:

  • FY 2025 Revenues of ~$1,830M

  • FY 2025 Adjusted EBITDA of

  $102M

TWI Key Investment Points

Global Market Leadership

Strong Competitive Position

Sustained Financial Performance

• Tires

• Wheels

• Undercarriage

• Mining Services

• Distribution

  • Aydin, Turkey

  • Heidelberg, South Africa

  • Jakarta, Indonesia

  • Liuzhou, China

  • Tianjin, China

  • Meizhou, China

  • Pune, India

    Australia

  • Perth, WA

  • Yatala, QLD

1 (Mar'26 ending Net Debt) / (Mar'26 TTM Adjusted EBITDA)

Driving Organic Growth

• Strategic Sourcing- expanding into new product categories by leveraging capabilities of strategic partners
• M&A Revenue Synergies - expansion of Carlstar products into new geographies (LATAM & Europe) and into legacy Titan dealer network

  LSW

  Penetration

  
  
  
• Product Development - continued focus on new products across wheels, tires and undercarriage to provide value added benefits to our customers
• LSW Penetration - continued expansion of our flagship LSW product into small & mid size farms, Canada and pursuit of military opportunities

One Stop Shop

Strategic Sourcing

M&A Revenue Synergies

Product Development

Recent Industry Leading Product Innovation

Agriculture

LSW

Cast Disc

Wheel

Stubble Armor

▪

Titan's flagship

Low Sidewall (LSW) tires operate at lower PSI and have larger contact area compared to dual tires and tracks, meaning less soil compaction, less fuel usage and improved crop yields

• Titan's patent pending Cast Disc

Wheel provides eight different settings to adjust tractor width for different row crops while significantly improving the aesthetic appeal of the tractor and reducing the need for wheel weights

▪

Carlstar's Stubble Armor

implement tire line offers more robust lower sidewall and a proven stubble resistant compound designed to withstand harsh field conditions

Earthmoving / Construction

Eco-Roller

Easy Master

Pin

Rubber

Tracks

▪

ITM's Eco-Roller is an

undercarriage solution for mining that never needs oil. It is durable, works in extreme temperatures, is fully recyclable, easy to restore, and saves time and effort on maintenance

▪

▪

The ITM patented Easy

Master Pin is engineered for machines up to 400 tons and speeds up assembly without the need for a large field press during installation, maximizing uptime and operational efficiency

Titan is introducing its

first ever Rubber Tracks for use in light construction applications in Jan 2026. Titan will launch over 50 skus across 6 tread patterns for use on Compact Track Loaders and Mini Excavators.

Consumer

Goodyear

Softrac Pro

Invictus VPO

All Terrain

Trailer Tire

Savage XT

Lawn & Garden

High Speed Trailer

• Launched in 2025, Softrac

Pro is Titan's first Goodyear branded Lawn and Garden tire, and combines a modern look with superb traction and turn friendliness

• All Terrain Trailer Tire

offers premium traction and aesthetic look for off-road enthusiasts

Powersports

▪

Titan's patented VPO

technology allows users to

drive equipment at 0 PSI (flat)

• Savage XT offers

Aggressive pattern design

in normal operating conditions

over the entire life of the tire or at higher PSIs for increased load capacity.

and maximum traction

and stability on a variety of terrain, from mud and rock, to gravel

Agriculture Segment

• Wheels, tires, and undercarriage components for use on a variety of agricultural equipment

• Wide range of wheel and tire sizes including the largest agricultural wheel in North American and the largest agricultural tire in the world

• Market leading products, innovation expertise, and global

  manufacturing footprint drive Titan's competitive advantage

  Key Segment Drivers

• Long term growth within Ag expected - supported by continued population growth and sustainable grain demand from increasingly protein-rich diets

• OEMs continuing to work aggressively to reduce inventory levels in 2025

• Steady equipment usage patterns drive aftermarket demand for tires along with fleet aging, leading to future equipment replacement needs

• LatAm market showing signs of improvement in 2025, while US and European markets experiencing weakness

  Tires and wheels produced in North America, Europe and CIS and distributed globally

  Tires produced in North America and Latin America and distributed

  globally

  Undercarriage parts produced in Europe, Latin America, North America, and Asia and distributed globally

  Revenue ($M) & Adj. Gross Margin (%)

  0

  Revenue
  
  

  5

  Adj. Gross Margin 0

  11%

  $635

  $742

  12%

  $741

  13%

  $789

  13%

  14%

  $949

  $981

  $1,192

  16%

5

0

5

0

5

0

5

0

TTM

2020 2021 2022 2023 2024 2025 Mar'26

*2024 GM excludes the impact of inventory revaluation step-up associated with the Carlstar purchase price allocation.

Low Sidewall Technology® (LSW®)

End-user enthusiasm and demand for industry leading technology remains high

• Superior Alternative to Tracks:
  
  

  • Less Compaction: LSW equipped machines generate a more consistent and lower ground bearing pressure, equating to 25% less compaction in comparison to a tracked machine.

  • Cost Effective: Compared to tracks, LSW equipped machines can save end-users up to $100,000 or more, on initial investment, while reducing maintenance costs and improving fuel efficiency.

• Continuing LSW Momentum across both OEM and Aftermarket channels:

  • Enhanced Distribution: In recent years has moved from distribution primarily in the Midwest US to across North America, particularly in Canada, South America, as well as Southern Africa.

  • Expansion of Size Offerings: LSW continues to move into new sizes for wheels and tires, including a new tread pattern for the world's largest farm tire size, the LSW1400/30R46

    LSW - Improved Performance vs. Dual Tire Setup

    
    
    CONVENTIONAL DUALS LSW "SUPER SINGLES"

    • Create deep compaction zones jeopardizing yield potential in pinch rows

    • 3-foot wider turning radius vs. LSW Super Singles means higher fuel usage and time required per acre of land and less maneuverability

    The diagram on the left demonstrates deep soil compaction in the "pinch row" between tires, a common result of running conventional duals.

    Too much soil compaction can stunt plant growth and have a significant impact on yields.

    • 40% less inflation pressure vs. conventional duals means less soil compaction and improved crop yields

    • Sizeable fuel savings vs. standard duals

    • Up to 40% greater ground contact area vs. conventional duals for increased traction

    • Superior on road comfort & performance

    
    
    
    
    EMC SEGMENT

    EMC Segment

    EMC Segment Facts

• The majority of EMC revenue is undercarriage parts and complete undercarriage solutions under the premium ITM brand, which operates globally in both the OEM and aftermarket channels

• ITM is the only independent undercarriage player with its own foundry and forging facilities designing and producing the widest range of parts, including customized steel-cast products for construction, mining and special applications meeting the highest standard of durability and reliability

• This segment also includes wheels and tires sold primarily in North and South America and Europe, and supports various types of OTR earthmoving, mining, construction, road building and forestry equipment

  Key Segment Drivers

• Construction demand driven by commodity prices, road construction, infrastructure, government appropriations and housing starts

• Construction and Earthmoving markets, particularly non-residential construction projects, have tailwind of infrastructure support, especially

  in Europe

  Undercarriage parts produced in Europe, Latin America, North America, and Asia and distributed globally

  Tires and wheels produced in North America, Europe and CIS and distributed globally

  Tires produced in

  North America and Latin

  Revenue ($M) & Adj. Gross Margin (%)

  0

  Revenue 5
  
  

  Adj. Gross Margin 0

  10%

  $510

  11%

  $598

  10%

  $582

  11%

  $583

  16%

  $688

  12%

  $693

  17%

  $807

  5

  0

  5

  0

  5

  0

  5

  0

  2020 2021 2022 2023 2024 2025 Mar'26

• Transition to clean energy is expected to support commodity prices of key inputs such as rare earth elements, which will benefit the mining segment over the long term

America and distributed

globally

*2024 GM excludes the impact of inventory revaluation step-up associated with the Carlstar purchase price allocation.

TTM

ITM Products and Customers

OEM

• 65% OE / 35% AM

• Full-service provider and manufacturer of ITM undercarriage systems and parts for the widest range of applications

• Significant blue-chip OEM customer base

• Strong relationships in mining aftermarket channels, expanding thanks to TRUST technology solution which provides monitoring and tracking system of vital parameters in real time, even in the toughest environments

• Full range and lifecycle of applications for crawling machines serving the construction, mining, forestry, road building and agriculture industries

• Global network of distribution centers and manufacturing locations, providing exceptional value and timely solutions to its customers

  
  
  

• Expanded into 80 new Latin American distributors

  Undercarriage Components

  AMK

  ITM Dealers

  
  
  
  
  
  
  CONSUMER SEGMENT

  Consumer Segment

  Consumer Segment Facts

  • Carlstar Acquisition - now known as Titan Specialty - added four manufacturing facilities and twelve distributions centers

  • Leading brands in off-road categories such as power sports (ITP, CARLSTAR), outdoor power equipment, high speed trailer

  • Robust innovation pipeline is needed to keep up with changing consumer needs and behaviors. Aesthetic appeal of products is equally important as high performance especially in powersports

Key Segment Drivers

• "One stop shop" offering expected to deepen relationships with

  key customers and allow for cross-selling opportunities

• Ongoing trend of migration from cities to suburbs or secondary markets supports continued expansion in sales of outdoor power equipment and replacement tires

• Further inclusion of outdoor recreational activities as

Tires and wheels produced in North America and China and distributed globally

Tires and wheels produced in North America, Europe and CIS and distributed globally

Undercarriage parts

Revenue ($M) & Adj. Gross Margin (%)

21%

19%

$115

10%

13%

$137

$154

$170

21%

$474

20%

$503

20%

$506

Adj. Gross Margin

1

6%

2020 2021 2022 2023 2024 2025 Mar'26

'mainstream' activities support long term demand growth in

powersports and high-speed trailer segments

produced in Europe, Latin America, North America, and Asia and distributed globally

*2024 includes 10 months of Carlstar acquisition.

*2024 GM excludes the impact of inventory revaluation step-up associated with the Carlstar purchase price allocation.

TTM

Titan Specialty - Products/Markets

20

All Percentages represent Mar'26 TTM revenue for Carlstar