GATX CORPORATION RENEWING THE CANADIAN GRAIN CAR FLEET

ACPA 2016 Thunder Bay ON

Deck Title | Month X, 2016

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Forward Looking Statement

Forward-looking statements in this presentation that are not historical facts are “forward-looking statements” within the meaning of the Private

Securities Litigation Reform Act of 1995. These include statements that reflect our current views with respect to, among other things, future

events, financial performance and market conditions. In some cases, forward-looking statements can be identified by the use of words such as

“may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would,”

and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Specific risks and uncertainties

include, but are not limited to; (1) inability to maintain our assets on lease at satisfactory rates; (2) weak economic conditions, financial market

volatility, and other factors that may decrease demand for our assets and services; (3) decreased demand for portions of our railcar fleet due to

adverse changes in commodity prices, including, but not limited to, sustained low crude oil prices; (4) events having an adverse impact on assets,

customers, or regions where we have a large investment; (5) operational disruption and increased costs associated with increased railcar

assignments following non-renewal of leases, compliance maintenance programs, and other maintenance initiatives; (6) financial and operational

risks associated with long-term railcar purchase commitments; (7) reduced opportunities to generate asset remarketing income; (8) changes in

railroad efficiency that could decrease demand for railcars; (9) operational and financial risks related to our affiliate investments, including the

RRPF affiliates; (10) fluctuations in foreign exchange rates; (11) failure to successfully negotiate collective bargaining agreements with the unions

representing a substantial portion of our employees; (12) the impact of new regulatory requirements for tank cars carrying crude, ethanol, and

other flammable liquids; (13) deterioration of conditions in the capital markets, reductions in our credit ratings, or increases in our financing

costs; (14) asset impairment charges we may be required to recognize; (15) competitive factors in our primary markets; (16) risks related to

international operations and expansion into new geographic markets; (17) exposure to damages, fines, and civil and criminal penalties arising

from a negative outcome in our pending or threatened litigation; (18) changes in or failure to comply with laws, rules, and regulations; (19)

inability to obtain cost-effective insurance; (20) environmental remediation costs; (21) inadequate allowances to cover credit losses in our

portfolio, and (22) other risks discussed in our filings with the US Securities and Exchange Commission (SEC), including our Form 10-K for the year

ended December 31, 2015, and our subsequently filed Form 10-Q reports, all of which are available on the SEC’s website (www.sec.gov).

Investors should not place undue reliance on forward-looking statements, which speak only as of the date they are made, and are not guarantees

of future performance. The Company undertakes no obligation to publicly update or revise these forward-looking statements.

Investor, corporate, financial, historical financial, photographic and news release information may be found at www.gatx.com.

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Topics for discussion

Introduction to GATX

Our perspective on the grain car market in Canada

Benefits of renewing the grain car fleet

Next steps

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GATX’s 117 Year History

1898 Established as railcar lessor with 28 railcars

1919 Initiated quarterly dividend

1936 Rail Operations in Canada

1994 Rail Operations in Europe & Mexico

1996 Locomotive Operations

1998 Rolls-Royce Partners and Finance (RRPF) Affiliates formed

1973 GATX acquired American Steamship Company (ASC)

2012 Rail Operations in India

2016 $7.4 billion* in assets and an interest in more than 151,000 railcars worldwide

*Assets on- and off-balance sheet as of 12/31/15

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GATX Today – Business Segments

AMERICAN STEAMSHIP COMPANY

Largest US-flagged vessel operator on the Great Lakes

Fleet of efficient self-unloading ships Exceptional safety record and leader in Great

Lakes environmental matters

PORTFOLIO MANAGEMENT

RRPF affiliates is the largest lessor of Rolls-Royce aircraft spare engines worldwide

RAIL NORTH AMERICA

o One of the largest railcar lessors o Diversified fleet of nearly 125,000 wholly owned

railcars o Diversified customer base

RAIL INTERNATIONAL

GATX Rail Europe (GRE) is one of the largest European tank car lessors

Strong customer credit quality, diversification in car types, geography and commodities carried

Largest railcar lessor in India

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GATX Rail North America’s Locomotive Leasing

96% are four-axle locomotives leased to:

Regional and short-line railroads

Industrial users

Class I railroads

FULL SERVICE PROMISE • Locomotives are fully over-hauled

before assignment • “as new”

• Extensive repair network

• 12 contract shop locations • 34 mobile repair providers

• 24-7 technical support

GATX OWNS, MANAGES OR HAS AN INTEREST IN MORE THAN 600 LOCOMOTIVES

As of 12/31/2015

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Straightforward and Proven Business Model

Railcar leasing is our core.

BUY the railcar at an

economically attractive and competitively

advantaged price

LEASE the railcar to a

quality customer at an attractive rate for a term that reflects the business cycle

SERVICE the railcar in a manner that

maximizes safety, in-use time and

customer satisfaction

MAXIMIZE the value of the railcar by selling or scrapping at

the optimal time

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GATX has one of the most diverse and balanced fleets in North America

Diverse and Balanced Fleet of Nearly 125,000 Railcars in North America

33% General Service Tank

10% High Pressure

6% Other Specialty Tank

5% Other

3% Specialty Covered Hoppers

7% Pneumatic Covered Hoppers

13% Gravity Covered Hoppers

8% Open-top Cars

15% Boxcars

49% TANK

51% FREIGHT

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Service When and Where You Need It

Extensive North American Maintenance Network

Major Service Facilities

Field Maintenance Facilities

Mobile Repair Unit Locations

Representative Contract Network

Hearne, TX

Colton, CA

Moose Jaw, SK, Canada

Waycross, GA

Red Deer, AB, Canada

Montreal, QC, Canada

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GATX is a major supplier to the grain industry

• GATX owns ~ 30,000 hopper cars of various types

• Hopper car markets include potash, soda ash, frac sand and grain, among others

• Approximately 10,000 medium cube gravity discharge hoppers in agricultural markets

• Most of GATX’s grain cars operate in the US

• Current customers include Class I railroads, shortlines, grain shippers

• GATX’s participation in Canada has been limited to date due to regulated nature of grain business

• Total Canadian grain fleet is estimated to be ~ 23,000 cars

• Major owners include governments (federal, provincial), G3 as successor to CWB, CN, CP

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History of government grain cars

• Between 1972 and 1994, the Canadian federal government bought 13,500 covered hopper cars to carry Western Canada grain to port for export

• Cars were constructed by Hawker Siddeley, Marine Industries and National Steel Car • Cars were 4550 CF, 263K GRL, four

compartment stub sill construction • Round body, low centre of gravity

designed to increase stability on grain branch lines

• Certain cars upgraded to 286K

Sources: Government of Canada Hopper Car Fleet 2013 Annual Report, “Government of Canada Hopper Car & Grain Monitoring Overview” (Transport Canada presentation for Fields on Wheels 12/3/2014)

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CTA Review Report highlighted need to renew Canadian grain car fleet

Majority of government and G3 / CWB cars were built in the 1970’s and 1980’s – Over 60 percent of the railway owned / leased fleet cars is of the same

vintage

Most cars must be retired in 2025-30 time period *

– GATX experience has been that cars do not last for full maximum statutory 50-year life

Replacing these cars with newer, more efficient equipment will significantly increase the capacity of the supply chain for Canadian grain and improve reliability – Important benefits for entire supply chain – Stakeholders include producers, shippers, railways, ports

* Source: Canada Transportation Act Report

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Canadian grain cars are the oldest hopper cars used in grain service

16 year age gap

Source of data: UMLER

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Age of retirement GATX stub sill hopper fleet

GATX has found that older design stub sill cars are rarely economic to repair after 32 years of age.

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“Bad order” rate climbed in 2015

Source: Government of Canada Hopper Car Fleet 2015 Annual Report

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Productivity benefits of newer grain cars

Measure Unit Government

Grain Car Contemporary

Grain Car Change

Volume Capacity Cubic Feet 4550 5400 + 19%

Gross Rail Load* Pounds 263,000 286,000

Light weight Pounds 60,400 62,500

Net Weight per car Pounds 202,600 223,500

Net Weight per car Metric tonnes

91.9 101.4 +10%

Extreme length Feet 59 56

Cars per train (Assumes 6608 feet trailing length) 112 118

Payload per train Metric tonnes

10,293 11,965 + 16%

* As built; some cars have been upgraded Source: UMLER

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Canadian grain industry is investing in its supply chain

Canadian grain industry is great success story – Emergence of pulse crops increases export volumes

– Long-term trend to warmer climate may benefit yields

– Current outlook is for 2016-17 crop to be close to record volumes hit in 2013-14 crop year

Major facility investments by new and established players – G3 (successor to Canadian Wheat Board) planning to build mega-terminal in

Vancouver

– Grainsconnect announced intentions to build four new high-throughput elevators in western Canada

– New Parrish & Heimbecker terminal at Port of Hamilton

– Richardson International doubling of capacity in Vancouver

Few investments in hopper cars

The grain car fleet is the weak link in the chain

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How would Canada’s ports benefit from replacing the grain car fleet?

Increase in volume – Shorter, larger cars permit unit trains to carry more grain per car, more cars per train – Efficient use of terminal track capacity

Simplified handling – New cars have three compartments instead of four – Fewer gates to handle – Less work at elevators and port terminals

Easier operations – Contemporary gate designs more efficient and easier to operate – Gates on older hopper cars have tendency to leak, can be difficult to operate due to age

and maintenance issues

Improved reliability – Introduction of newer cars would reduce reject rate at all stages of the supply chain

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The GATX solution

We believe that a major investment in grain hopper cars is urgently required – At minimum, replacement of the ~ 10,000 cars under all-government

ownership – Total investment cost is approximately $1 billion Canadian, assuming

$100,000 cost per car

GATX believes that this investment should be made by the private sector – GATX has a strong balance sheet and would be able to make an

investment of this scale

Government has an important role in creating an environment that

encourages and facilitates this investment – Requires adjustments to railways’ Maximum Revenue Entitlement

(MRE) for export grain – Transition plan for government-owned fleet

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How can you help?

If grain car fleet renewal is important to you, please speak up!

– Transport Canada is formally seeking input until September 16, 2016.

Transport policy (Minister Garneau’s “New Vision”) and CTA-related discussions are continuing this fall

Transport Canada is engaged in the issue but need to hear from more parties

– Important to share “on the ground” stories of issues and problems with the aging government fleet

Participation of all stake-holders is key to moving this issue forward.