CAI International : Q3 2020 Investor Presentation

Q3 2020 Update

KBW Virtual Non-Deal Roadshow September 21, 2020

Q3 2020 - Key Highlights

• Container shipping market experiencing a robust rebound
• Container customer demand at historically strong levels
• • Utilization currently 98.9% vs 97.8% end of Q2
  • Expect continuation of upward trend in Q4
  • CAI has leased virtually all new and used dry container inventory and forward purchase commitments
  • Expect book value of on-lease fleet to grow approximately 10% by year-end versus the end of Q2 2020
  • Average new lease tenor ~7.5 years

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Q3 2020 - Key Events

• Sold logistics business
• $500 million, 5-year, float to fixed interest rate swap
• • Fixed rate = 29bps + credit spread (currently 1.79% all-in cash interest rate)
• $742.7 million asset backed securitization (ABS)
• • Weighted average rate of 2.3%
  • Weighted average life of 5 years
  • 83% initial advance rate
  • Proceeds will be used to refinance $712.3 million of existing ABS debt that has an average cash interest expense rate of 4.06%
  • First year annual cash interest expense savings of approximately $11 million beginning in Q4 2020

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Pro Forma Summary of Credit Facilities - Q2 2020 (1)

• Current commitment - $2,428 million
• Outstanding - $1,992 million (82%)

1. Pro forma for:
2. • $500 million float to fixed interest rate swap - July 2020
   • $742.7 million ABS Series 2020-1 - September 9, 2020
   • Extension of maturity ABN Amro Euro facility - September 17, 2020
3. Excludes deferred financing costs, unused line fees and other misc. interest expense items

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