TITAN INTERNATIONAL Business Summary

Titan International Inc. (TWI) operates as a leading global manufacturer and distributor of off-highway wheels, tires, assemblies, and undercarriage products, primarily serving the agricultural, earthmoving/construction (EMC), and consumer markets. The company generates revenue through a high-volume manufacturing model, supplying both original equipment manufacturers (OEMs) and the aftermarket. Its business is organized into three primary segments: Agricultural, which provides wheels and tires for tractors and harvesters; Earthmoving/Construction, focusing on undercarriage systems and large-scale OTR equipment; and Consumer, which offers products for power sports and high-speed trailers. Titan distinguishes itself through a "one-stop shop" strategy, offering integrated wheel-and-tire assemblies that reduce complexity for OEMs. Its primary direct competitors include Greif, Inc., Alamo Group Inc., and The Greenbrier Companies, while it also contends with global tire giants like Michelin and Bridgestone. Within this landscape, Titan maintains a dominant niche as a specialized leader in off-road wheel-tire integration, particularly through its proprietary Low Sidewall Technology (LSW). Leadership is spearheaded by President and CEO Paul G. Reitz, who has been with the company since 2010 and previously served as CFO. The executive team was recently restructured in late 2025 to accelerate strategic transformation, with Tony C. Eheli promoted to Senior VP and Chief Financial Officer and David A. Martin transitioning to the newly created role of Senior VP and Chief Transformational Officer (CTO) to oversee AI adoption and operational agility. The company’s modern growth was architected by Chairman Maurice M. Taylor, Jr., known as "The Grizz," who led the company’s 1993 IPO and transformed it from a small wheel business into a global industrial powerhouse. Titan’s board features deep industry expertise, including Max A. Guinn (formerly of Deere & Company) and Richard M. Cashin Jr. (President of OEP Capital Advisors). The company maintains high institutional backing, with major stakeholders including Dimensional Fund Advisors, Victory Capital Management, and Invesco Ltd.