Triton International Limited Announces Completion of $503 Million Offering of Fixed Rate Asset Backed Notes

February 3, 2021– Triton International Limited (NYSE: TRTN) announced today that it has completed an offering of $479.1 million Fixed Rate Asset-Backed Series 2021-1 Class A Notes at an annual yield of 1.658% and $23.8 million Fixed Rate Asset-Backed Series 2021-1 Class B Notes at an annual yield of 2.558% (collectively, the “Notes”).

“We are pleased to have concluded another successful ABS offering. The offering experienced very strong demand, enabling us to take advantage of historically low interest rates,” said Brian Sondey, Chairman and Chief Executive Officer. “This transaction supports our ongoing container investment and market leading supply capabilities as we continue to play a key role in helping our customers keep global supply chains functioning during this critical time.”

The Notes were issued by TIF Funding II LLC (the “Issuer”), a wholly-owned subsidiary of Triton International Limited. The Notes are secured by a pool of containers and related assets owned by the Issuer. The Issuer will be the sole obligor on the Notes; the Notes will not be obligations of or guaranteed by Triton International Limited or any of its other subsidiaries. The net proceeds from the Notes offering will be used for general corporate purposes, including to repay outstanding indebtedness.

About the Notes

The Series 2021-1 Class A Notes, are rated “A” by S&P Global Ratings and were issued with a coupon of 1.65% per annum and an annual yield of 1.658%. The Series 2021-1 Class B Notes are rated “BBB” by S&P Global Ratings and were issued with a coupon of 2.54% per annum and an annual yield of 2.558%. The Series 2021-1 Notes have a legal final maturity date of February 20, 2046. The transaction documents contain customary affirmative and negative covenants, financial covenants, representations and warranties, and events of default, which are subject to various exceptions and qualifications.

The Notes were offered within the United States only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), to institutional “accredited investors” as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act and to persons outside the United States in compliance with Regulation S under the Securities Act. The Notes have not been registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.