Tennant Company Investor Presentation — April 2019

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Earnings Release Conference Call

Tuesday, April 30, 20192TENNANT COMPANY

President and CEOKeith Woodward

Non-GAAP MeasuresOur remarks this morning and our answers to questions may contain forward -looking

statements regarding the company’s expectations of future performance. Such

statements are subject to risks and uncertainties, and our actual results may differ

materially from those contained in the statements. These risks and uncertainties are

described in today’s news release and the documents we file with the Securities and

Exchange Commission. We encourage you to review those documents, particularly

our Safe Harbor statement, for a description of the risks and uncertainties that may

Additionally, on this conference call we will discuss non -GAAP measures that include

or exclude special or non -operational items. For each non -GAAP measure, we also

provide the most directly comparable GAAP measure. There were special non -GAAP

items in the first quarter of 2018 and 2019. Our 2019 first quarter earnings release

includes a reconciliation of these non -GAAP measures to our GAAP results.

Earnings Release Conference Call

Tuesday, April 30, 20195TENNANT COMPANY

First Quarter 2019 –Results

•Negative organic and currency impact

•Organic softness due to challenging sales comparison and industry market softness in UK

•Focused on prioritizing sales efforts where our value proposition is strongest

•Optimizing our operations and supply chain

•Mitigating external factors impacting our margins6TENNANT COMPANY

First Quarter 2019 –Results

•Increase of 120 bps over prior -year period

•Macro -driven factors: tariffs, tight skilled -labor market, material inflation and higher freight costs

•Positive impacts: pricing actions, favorable channel mix and efforts to mitigate headwinds

•17% growth or 200 bps over prior -year period

•Gross margin performance and disciplined expense management7TENNANT COMPANY

First Quarter 2019 –Announcements

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