Triton International Announces Pricing of Public Offering of Series B Preference Shares

Triton International Limited (NYSE:TRTN) (the “Company” or “Triton”)
today announced the pricing of an underwritten offering of 5,000,000
8.00% Series B Cumulative Redeemable Perpetual Preference Shares with a
liquidation preference of $25.00 per share (the “Series B Preference
Shares”) for gross proceeds of $125,000,000. Triton also granted the
underwriters a 30-day option to purchase up to an additional 750,000
Series B Preference Shares.

The Company intends to use the net proceeds from the offering for
general corporate purposes, including the purchase of containers, the
repurchase of outstanding common shares, the payment of dividends, and
the repayment or repurchase of outstanding indebtedness. The offering is
expected to close on June 24, 2019, subject to customary closing
conditions.

Wells Fargo Securities, LLC, BofA Securities, Inc., Morgan Stanley & Co.
LLC, UBS Securities LLC and Keefe, Bruyette & Woods, Inc., a Stifel
Company, are acting as joint book-running managers for the offering. The
offering is made pursuant to an effective shelf registration statement,
previously filed with the Securities and Exchange Commission (the
“SEC”). The offering is being made only by means of a prospectus
supplement and a related prospectus, copies of which may be obtained on
the SEC’s website at www.sec.gov
or by contacting:

Wells Fargo Securities, LLC
Attn: WFS Customer Service
608 2nd
Avenue South
Minneapolis, MN 55402
(800) 645-3751
[email protected]

BofA Securities, Inc.
Attn: Prospectus Department
200
North College Street
NC1-004-03-43
Charlotte, NC 28255
(800)
294-1322
[email protected]

Morgan Stanley & Co. LLC
Attn: Prospectus Department
1585
Broadway, 29th Floor
New York, NY 10036
(866) 718-1649
[email protected]

UBS Securities LLC
Attn: Prospectus Department
1285 Avenue of
the Americas
New York, New York 10019
(888) 827-7275

Keefe, Bruyette & Woods, Inc.
Attn: Capital Markets
787
Seventh Avenue, 4th Floor
New York, New York 10019
(800)
966-1559

This press release shall not constitute an offer to sell or the
solicitation of any offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.

Important Cautionary Information Regarding Forward-Looking Statements

Certain statements in this release, other than purely historical
information, are “forward-looking statements” within the meaning of
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’s 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 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 its business; decreases in the demand
for international trade; disruption to its operations resulting from the
political and economic policies of the United States and other
countries, particularly China, including but not limited to the impact
of trade wars and tariffs; disruption to its operations from failures
of, or attacks on, its information technology systems; disruption to its
operations as a result of natural disasters; compliance or failure to
comply 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 imposed by the terms of our debt agreements; changes in tax
laws in Bermuda, the United States and other countries and other risks
and uncertainties, including those risk factors set forth in the section
entitled “Risk Factors” in our Form 10-K filed with the SEC on February
19, 2019 and our preliminary prospectus supplement and accompanying
prospectus related to the public offering filed with the SEC on June 17,
2019.

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 businesses 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.

About Triton International Limited

Triton International Limited is the world’s largest lessor of intermodal
freight containers. With a container fleet of 6.1 million twenty-foot
equivalent units, Triton’s global operations include acquisition,
leasing, re-leasing and subsequent sale of multiple types of intermodal
containers and chassis.

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