Titan International To Discuss With American Industrial Partners To Increase Its Ownership in Company In Open Market Purchases.

Titan International, Inc. (NYSE:TWI) ("Titan or the "Company"), a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products, today reported that its board of directors plans to discuss with its largest shareholder, American Industrial Partners ("AIP"), a possible amendment of the parties' Stockholder Agreement to allow AIP to increase its ownership of TWI common stock in open market purchases.

Private equity funds managed by AIP own approximately 16.4% of TWI's outstanding shares, which were acquired as a result of TWI's purchase of Carlstar Group, LLC, that closed in February 2024. In connection with that acquisition, AIP and TWI entered into the Stockholder Agreement which (among other customary terms) includes: a standstill agreement under which AIP agreed not to acquire additional TWI shares without the Company's consent for the period stated in the agreement; a voting agreement which requires AIP to vote in accordance with the board's recommendations to shareholders generally through TWI's 2025 annual shareholders meeting; and a lock-up agreement under which AIP agreed not to dispose of its TWI stock for the period set forth in the agreement. The terms of the stockholder agreement have been filed with the Securities and Exchange Commission and are available on Titan's website at https://ir.titan-intl.com/financials/sec-filings/default.aspx.