NYSE : GBX Ste phe ns Co nfe re nc e No ve mb e r 2018 Investor - PowerPoint PPT Presentation

NYSE : GBX Ste phe ns Co nfe re nc e No ve mb e r 2018 Investor Contact: Investor.Relations@gbrx.com Website: www.gbrx.com

Sa fe Ha rb o r Sta te me nt UNDE R T HE PRIVAT E SE CURIT I E S L IT I GAT I ON RE F ORM ACT OF 1995: T his pre se nta tio n ma y c o nta in fo rwa rd -lo o king sta te me nts, inc lud ing a ny sta te me nts tha t a re no t pure ly sta te me nts o f histo ric a l fa c t. Gre e nb rie r use s wo rd s suc h a s “a ntic ipa te s,” “b e lie ve s,” “fo re c a st,” “po te ntia l,” “g o a l,” “c o nte mpla te s,” “e xpe c ts,” “inte nd s,” “pla ns,” “pro je c ts,” “ho pe s,” “se e ks,” “e stima te s,” “stra te g y,” “c o uld ,” “wo uld ,” “sho uld ,” “like ly,” “will,” “ma y,” “c a n,” “d e sig ne d to ,” “future ,” “fo re se e a b le future ” a nd simila r e xpre ssio ns to id e ntify fo rwa rd -lo o king sta te me nts. T he se fo rwa rd -lo o king sta te me nts a re no t g ua ra nte e s o f future pe rfo rma nc e a nd a re sub je c t to c e rta in risks a nd unc e rta intie s tha t c o uld c a use a c tua l re sults to d iffe r ma te ria lly fro m the re sults c o nte mpla te d b y the fo rwa rd -lo o king sta te me nts. F a c to rs tha t mig ht c a use suc h a d iffe re nc e inc lud e , b ut a re no t limite d to , re po rte d b a c klo g a nd a wa rd s tha t a re no t ind ic a tive o f Gre e nb rie r’ s fina nc ia l re sults; unc e rta inty o r c ha ng e s in the c re d it ma rke ts a nd fina nc ia l se rvic e s ind ustry; hig h le ve ls o f ind e b te d ne ss a nd c o mplia nc e with the te rms o f Gre e nb rie r’ s ind e b te d ne ss; write -d o wns o f g o o d will, inta ng ib le s a nd o the r a sse ts in future pe rio d s; suffic ie nt a va ila b ility o f b o rro wing c a pa c ity; fluc tua tio ns in d e ma nd fo r ne wly ma nufa c ture d ra ilc a rs o r fa ilure to o b ta in o rd e rs a s a ntic ipa te d in d e ve lo ping fo re c a sts; lo ss o f o ne o r mo re sig nific a nt c usto me rs; c usto me r pa yme nt d e fa ults o r re la te d issue s; po lic ie s a nd prio ritie s o f the fe d e ra l g o ve rnme nt re g a rd ing inte rna tio na l tra d e , ta xa tio n a nd infra struc ture ; so ve re ig n risk to c o ntra c ts, e xc ha ng e ra te s o r pro pe rty rig hts; a c tua l future c o sts a nd the a va ila b ility o f ma te ria ls a nd a tra ine d wo rkfo rc e ; fa ilure to d e sig n o r ma nufa c ture ne w pro d uc ts o r te c hno lo g ie s o r to a c hie ve c e rtific a tio n o r ma rke t a c c e pta nc e o f ne w pro d uc ts o r te c hno lo g ie s; ste e l o r spe c ia lty c o mpo ne nt pric e fluc tua tio ns a nd a va ila b ility a nd sc ra p surc ha rg e s; c ha ng e s in pro d uc t mix a nd the mix b e twe e n se g me nts; la b o r d ispute s, e ne rg y sho rta g e s o r o pe ra ting d iffic ultie s tha t mig ht d isrupt ma nufa c turing o pe ra tio ns o r the flo w o f c a rg o ; pro d uc tio n d iffic ultie s a nd pro d uc t d e live ry d e la ys a s a re sult o f, a mo ng o the r ma tte rs, c o sts o r ine ffic ie nc ie s a sso c ia te d with e xpa nsio n, sta rt-up, o r c ha ng ing o f pro d uc tio n line s o r c ha ng e s in pro d uc tio n ra te s, c ha ng ing te c hno lo g ie s, tra nsfe r o f pro d uc tio n b e twe e n fa c ilitie s o r no n-pe rfo rma nc e o f a llia nc e pa rtne rs, sub c o ntra c to rs o r supplie rs; a b ility to o b ta in suita b le c o ntra c ts fo r the sa le o f le a se d e q uipme nt a nd risks re la te d to c a r hire a nd re sid ua l va lue s; inte g ra tio n o f c urre nt o r future a c q uisitio ns a nd e sta b lishme nt o f jo int ve nture s; suc c e ssio n pla nning ; d isc o ve ry o f d e fe c ts in ra ilc a rs o r se rvic e s re sulting in inc re a se d wa rra nty c o sts o r litig a tio n; physic a l d a ma g e o r pro d uc t o r se rvic e lia b ility c la ims tha t e xc e e d Gre e nb rie r’ s insura nc e c o ve ra g e ; tra in d e ra ilme nts o r o the r a c c id e nts o r c la ims tha t c o uld sub je c t Gre e nb rie r to le g a l c la ims; a c tio ns o r ina c tio ns b y va rio us re g ula to ry a g e nc ie s inc lud ing po te ntia l e nviro nme nta l re me d ia tio n o b lig a tio ns o r c ha ng ing ta nk c a r o r o the r ra ilc a r o r ra ilro a d re g ula tio n; a nd issue s a rising fro m inve stig a tio ns o f whistle b lo we r c o mpla ints; a ll a s ma y b e d isc usse d in mo re d e ta il und e r the he a d ing s “Risk F a c to rs” a nd “F o rwa rd L o o king Sta te me nts” in Gre e nb rie r’ s Annua l Re po rt o n F o rm 10-K fo r the fisc a l ye a r e nd e d Aug ust 31, 2018, Gre e nb rie r’ s Qua rte rly Re po rt o n F o rm 10-Q fo r the fisc a l q ua rte r e nd e d Ma y 31, 2018, a nd Gre e nb rie r’ s o the r re po rts o n file with the Se c uritie s a nd E xc ha ng e Co mmissio n. Re a d e rs a re c a utio ne d no t to pla c e und ue re lia nc e o n the se fo rwa rd -lo o king sta te me nts, whic h re fle c t ma na g e me nt’ s o pinio ns o nly a s o f the d a te he re o f. E xc e pt a s o the rwise re q uire d b y la w, Gre e nb rie r d o e s no t a ssume a ny o b lig a tio n to upd a te a ny fo rwa rd -lo o king sta te me nts. 1

I nte g ra te d Busine ss Mo de l Gre e nb rie r’ s inte g ra te d b usine ss mo de l de live rs supe rio r va lue to c usto me rs b y c re a ting c usto mize d fre ig ht c a r so lutio ns o ve r the e ntire life o f a ra ilc a r. Our dive rsifie d po rtfo lio o f q ua lity pro duc ts a nd se rvic e s e nha nc e s o ur fina nc ia l pe rfo rma nc e a c ro ss the b usine ss c yc le . 2

L e a ding I nte g ra te d T ra nspo rta tio n E q uipme nt & Se rvic e Pro vide r T hr e e busine ss units wo r king to ge the r Manufac turing (1) Afte rmarke ts (1) L e asing & Se rvic e s (1)  L  F e a d ing ma nufa c ture r o f ra ilc a rs le e t Info rma tio n  Whe e ls, Re pair ts – e ig ht & Par in No rth Ame ric a , E uro pe a nd whe e l se rvic e lo c a tio ns, fo ur • 6,300 lo ng -te rm o wne d units So uth Ame ric a ra ilc a r pa rt re c o nd itio ning • 1,800 sho rt-te rm o wne d units  L e ading do me stic manufac tur e r o f lo c a tio ns, 12 re pa ir lo c a tio ns • 357,000 ma na g e d units o c e a n-g o ing b a rg e s  GBW Railc ar vic e s – In Aug ust Se r  Ne w ra ilc a r b a c klo g va lue d a t 2018, the GBW Ra ilc a r Se rvic e s $2.7 b illio n jo int ve nture wa s d isso lve d re sulting in 12 re pa ir lo c a tio ns  Ma rine b a c klo g o f ~$60 millio n re turning to Gre e nb rie r whic h a re pro vid e s pro d uc tio n visib ility into inc lud e d in the Whe e ls, Re pa ir & 2020. Pa rts se g me nt.  Anno unc e d ne w ra ilc a r o rd e rs o f Histo ric a l Re ve nue 9,300 units va lue d o ve r $1.0 b illio n 3,000  Anno unc e d a n a g re e me nt to fo rm 2,519 2,500 a jo int ve nture with Sa ud i Ra ilwa y Co mpa ny (“SAR”) tha t will 2,000 g e ne ra te a to ta l inve stme nt o f 1 $ millio ns b illio n Sa ud i riya ls (USD $270 millio n) 1,500 in Sa ud i Ara b ia ’ s ra ilwa y syste m I PO a nd a supply o f fre ig ht ra ilc a rs fo r 1,000 the Sa ud i ra il ind ustry. 370 millio n Sa ud i Riya ls (USD $100 millio n) in 500 physic a l a sse ts. 322 - 1994 2018 (1) Da ta a s o f 8/ 31/ 2018 3

I nve stme nt Hig hlig hts  No rth Ame ric a n  Ma rke t le a de r  Dive rse re ve nue a nd Industry Dynamics Strong Financial Profile Unique Strategic Position Drive rs e a rning s stre a m  Pro vide s c usto mize d  Stro ng ra ilc a r • Ra il c yc le d rive n b y so lutio ns c urre nt b usine ss a nd b a c klo g a nd tra c k  T ind ustry tre nd s ra nsfo rma tio na l re c o rd o ve r multiple initia tive s c re a te c yc le s • Bro a d e ning pro d uc t g ro wth pla tfo rm d e ma nd a c ro ss c yc le s  Stro ng fina nc ia l • E nha nc e d L e a sing • Cha ng ing ta nk c a r pe rfo rma nc e mo d e l re g ula to ry e nviro nme nt  Co ntinue d fo c us o n • Pro d uc t & se rvic e  I nte rna tio na l Drive rs d ive rsific a tio n c a sh flo w, inve sting in hig h re turn pro je c ts • De ve lo ping E uro pe a n, • E xte nsive No rth a nd sha re ho lde r So uth Ame ric a n, GCC Ame ric a n a fte rma rke t re turn a nd E ura sia ma rke ts re pa ir ne two rk  Se a so ne d • Sc a la b le a nd fle xible a c ro ss d ive rsifie d ma na g e me nt te a m pro d uc t mix 4

Stra te g y L e ve ra g e s Co re Skills Cor e Nor th Ame r ic an Mar ke t Inte r national Dive r sific ation Inc r e ase Sc ale T ale nt Pipe line 5

North Ame ric a n Ma rke t

No rth Ame ric a Ma rke t is I mpro ving • I nc re a se d ra il tra ffic  YT D ra il tra ffic up 4.1% • De c re a se d ve lo c ity  12-mo nth ro lling : do wn 5.4% • De c re a se d c a rs in sto ra g e  Ye a r-o ve r-ye a r c a rs in sto ra g e do wn 61.7K units (16.7%) • I nc re a se d ne w ra ilc a r o rde rs  Qua rte r-o ve r-q ua rte r o rde rs up 5% • I nc re a se d GDP  U.S. GDP up 3.5% in Q3 2018 So urc e : AAR (We e kly), Ra il time indic a to r, RSI ARCI, Bure a u o f E c o no mic Ana lysis 7