TENNANTCO.COM

REINVENTINGthe future of cleaning.

INVESTOR PRESENTATIONApril 2016

This presentation contains certain statements that are considered “forward-looking statements”

within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking

statements generally can be identified by the use of forward-looking terminology such as “may,”

“will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “project,” or “continue” or similar words

or the negative thereof. These statements do not relate to strictly historical or current facts and

provide current expectations of forecasts of future events. Any such expectations or forecasts of

future events are subject to a variety of factors. We caution that forward-looking statements must

be considered carefully and that actual results may differ in material ways due to risks and

uncertainties both known and unknown. Information about factors that could materially affect our

results can be found in Part I, Item 1A, Risk Factors in our Annual Report on Form 10-K for the

year ended December 31, 2015. Shareholders and potential investors are urged to consider

these factors in evaluating forward-looking statements and are cautioned not to place undue

reliance on such forward-looking statements.

We undertake no obligation to update or revise any forward-looking statement, whether as a

result of new information, future events or otherwise. Investors are advised to consult any further

disclosures by us in our filings with the Securities and Exchange Commission and in other written

statements on related subjects. It is not possible to anticipate or foresee all risk factors, and

investors should not consider any list of such factors to be an exhaustive or complete list of all

risks or uncertainties.

Safe HarborStatement

2

AboutTennant Company

Tennant Company, a Minnesota

corporation founded in 1870 and

incorporated in 1909, is a world leader

in designing, manufacturing and

marketing solutions that empower

customers to achieve quality cleaning

performance, significantly reduce

environmental impact and help create

a cleaner, safer, healthier world.

70consecutive years of cash dividends

44consecutive years of increase in annual cash dividend payout

Balance sheet

NYSE Symbol:

TNC

2015 Revenues:

$812M

3

2015 Employees:

3,164

OUR VISION

We will lead our global industry in

sustainable cleaning innovation that

empowers our customers to create a

cleaner, safer and healthier world.

4

5

Competitive Landscape2011 Global Market Size – $4.6 Billion*

17%Tennant | Nobles | Alfa

Nilfisk | Clarke | Viper

Hako | Minuteman |

PowerBoss

Karcher | Windsor |

TecServ | ProChem

Taski

of the market consists of others with a market share of 3% or less

*Market share data is based on company

revenue and estimates for like categories

18%

12%

7% 4%

42%

5

Broad Portfolio of Quality ProductsC

OM

ME

RC

IAL

IND

US

TR

IAL

AF

TE

RM

AR

KE

T

ES

SE

NT

IAL

S

OR

BIO

®

TE

CH

NO

LO

GIE

S

CO

AT

ING

S

6

STRONG DIRECT SALES& SERVICE ORGANIZATIONS

Strong Direct Sales & Service Organizations

Global Sales Employees Global Direct Service EmployeesGlobal Revenue by Sales Channel

25%

75%

Distribution

Direct

Distribution PartnersMore than 80 countries

around the world

Global Strategic AccountsCross-functional teams &

market specialists

Factory-Service DirectLocally based & factory-trained

service technicians

0

100

200

300

400

500

600

2012 2013 2014 2015

Americas EMEA APAC

0

100

200

300

400

500

600

700

800

900

2012 2013 2014 2015

Americas EMEA APAC

7

8

Broad Range of Global Customers

MARKETS

8

9

2015 Revenue of $812M

73%

17%

10%Americas

EMEA

APACNet Sales by Geography

22%14%

61%

3%

Service & Other

Equipment*

Coatings

Net Sales by Product Group

Parts & Consumables

*Equipment MixCommercial | 52%Industrial | 44%Outdoor | 4%

9

We remain committed to organic

Sales goal of $1 Billion and 12% or

above Operating Profit Margin

Growth Strategy

10

• Reach new markets and new customers

• Deliver a strong product & technology pipeline

• Build Tennant’s e-Business capabilities

• Be disciplined about improving margins &

controlling expenses

$1B

$752M

GDP Growth

$60M (2%)

Go-To-Market

$70M (up to 3%)

New Products$80M (up to 3%)

Emerging Markets

$40M (up to 2%)

11

Our Journey to $1 Billion

11

Our Progress toward $1 Billion

12

Growth from over-

delivery on new

products & go-to-

market initiatives

partially offset by

major foreign

currency headwinds

Strategic Priorities

13

.

Sales & Service CoverageIncreasing our Presence

×Education Healthcare

Industrial Retail

ENHANCEDGO-TO-MARKET STRATEGY3 COMPONENTS OF

MARKET SHARE

Product Portfolio

Market Coverage

(Presence)

HitRate

VERTICAL MARKETS & MARKETING ANALYTICS

14

Emerging Markets

China

Brazil

• Focused approach

• Long-term growth potential

despite economic headwinds

Organic Sales Growth

15

20143.5%

20153.5%

201415%

20155.5%

Organic Sales Growth

Operations EfficiencyStrategy Deployment to Drive Four Key Initiatives

VELOCITY & LEAN

Be the absolute leader for serving the customer!

SERVICE LEVELS

SUPPLY CHAIN OPTIMIZATION

QUALITY FOCUS

16

CRM & Marketing AutomationPerpetual Lead Generation

Speed-to-Lead• Better lead visibility and new

processes mean we can convert leads faster

• Keep the lead pipeline full with automated marketing capabilities embedded inside CRM

Prospecting• Leverage deep history to

prioritize the known

• Visualize the potential to discover the new

17

e-CommerceCleaning solutions made easy online

• Empower our customers

• Anticipate their needs

• Enhance their experience

Good Experience Increase Revenue• New customers

• New geographies

• Expand products

Lower Cost of Sale• Self-service

• Reduce manual interventions

• Cost avoidance

18

Reconditioned EquipmentAttracting a New Set of Customers

19

New Commercial Recon Facility New e-Commerce Website

19

Attract & Retain Talent

Tennant Employee Value Proposition

1

2

3

Build a world-class talent acquisition function

Develop leadership & key talent capabilities

Align high-performance culture with business strategy

Talent Management Focus

A Focus on Stewardship

Strong Legacy

Rewarding work with opportunity

for career growth

4 Reward performance that creates value

Commitment to Innovation

20

Sustainable Enterprise

21

Score 2012 CY (‘13 Report)

2013 CY(‘14 Report)

2014 CY(‘15 Report)

Disclosure 68 80 95

Performance Band D C C

Industry Average 49/C 53/C 60/D

Tennant Corporate Sustainability Report

552012-2014

362015

New Product DevelopmentStrongest Product Pipeline Ever!

132016

22

M17Battery Rider Sweeper/Scrubber

VERTICAL MARKETSLogistics & Manufacturing

VALUE PROPOSITION• Full single-pass cleaning capability

(sweeping/scrubbing) & fume-free operation

• ProPanel™ provides a high-visibility, operator-centric

interface with PerformanceView camera, operator

security log-in, safety checklists & onboard training

• Improved shrinkwrap recover answers significant

market need

23

ec-H2O NanoClean™The Responsible Way to Clean

Next generation ec-H2O | Cleans more soils in more applications

HOW IT WORKS:ec-H2O™ SCRUBBERS | 2008-2015

$896 million+cumulative revenue

8,000+customers

30,000+ sites

77,000+machines

24

Record Sales of $157M in 2015

ORBIO® TechnologiesOn-Site Generation Technology

FOCUS ON “3Cs”CAMPUS | CHAINS | CONTRACTORS

Improving health and safety for the environment, employees and people in their care while reducing costs.

GENERATEScleaner & disinfectant/sanitizer on-site

25

Customer InsightsReinventing the Way the World Cleans

EMOTIONAL BENEFITS

FUNCTIONAL BENEFITS

FEATURES & BENEFITS

PRODUCTS SOLUTIONS

Traditional ApproachVoice of customer & needs

identification to shape new

product development

NEW Thinking• Acknowledge the reality of our customer’s business

• Deploy new tools for better insights

• Think solutions, not just products

• Objective research from innovation experts

• Challenge status quo – new lens for opportunities

• Embrace a holistic view of our customers

26

• Lithium-Ion, Fuel Cell, etc.

• Improving cost & availability

• ROI for customer

• Reduced weight & footprint size

• Sustainability

• Productivity

• Game-changing solution

– +

Water RecyclingBattery Technologies Robotics (AGV)Asset Management

• Manage cleaning

programs better

• Fleet management

• Lower cost-to-clean

• Addresses labor costs

• Largest potential growth

opportunity

Advanced Product DevelopmentFuture Technologies

27

IRIS® Asset Management System

ON-BOARD MACHINE DIAGNOSTICS

CUSTOMERS• Manage cleaning

programs better

• Fleet management

• Lower cost-to-clean

• Increased Market

Differentiation

• Service Efficiency

• Customer Intimacy

28

AcquisitionsStrategic Filters

Sales & Service Coverage

Technology Platforms

Complementary Products

Underserved Markets

29

FINANCIALSummary

Reinventing the future of cleaning.

30

2015

SALES

GROSS MARGIN

R&D EXPENSE (% of sales)

Adjusted*

S&A EXPENSE (% of sales)

Adjusted*OPERATING PROFITAdjusted*OPERATING PROFIT MARGINAdjusted*

DILUTED EPS

2014 CHANGE

$811.8 M

43.0%

4.0%

30.6%

$68.1 M

8.4%

$2.49

$822.0 M

42.9%

3.6%

30.5%

$72.1 M

8.8%

$2.70

(1.2%)

+10 bps

+40 bps

+10 bps

(5.5%)

(40 bps)

(7.8%)

*2015 results are adjusted to exclude restructuring charge in S&A of $3.7M pre-tax ($0.17 per diluted share) and non-cash long-lived asset impairment of $11.2M pre-tax ($0.58 per diluted share).

2015 Full YearOrganic Sales Growth 4.3% | Americas Sales up 6.4% Organically

31

SALES

GROSS MARGINAdjusted*

OPERATING PROFITAdjusted*OPERATING PROFIT MARGINAdjusted*DILUTED EPS

2015 2014 CHANGE

CONSTANT(1)

CURRENCY

2015

AS REPORTED

(1)“Constant Currency”: estimated income statement which assumes no change in exchange rates from prior year.

*2015 results are adjusted to exclude restructuring charge in S&A of $3.7M pre-tax ($0.17 per diluted share) and non-cash long-lived asset impairment of $11.2M pre-tax ($0.58 per diluted share).

$857.1 M

43.8%

$81.4 M

9.5%

$3.00

$822.0 M

42.9%

$72.1 M

8.8%

$2.70

+4.3%

+90 bps

+12.9%

+70 bps

+11.1%

$811.8 M

43.0%

$68.1 M

8.4%

$2.49

2015 Full Year “Constant Currency” View(excludes estimated foreign exchange impact)

32

4.3% Organic Sales Growth in 2015 Full Year

APACEMEAAmericas2015 Organic Sales

6.4%2015 Organic Sales

(2.1%)2015 Organic Sales

1.3%

33

34

SALES

GROSS MARGIN

R&D EXPENSE (% of sales)

S&A EXPENSE (% of sales)

OPERATING PROFIT

OPERATING PROFIT MARGIN

DILUTED EPS

Q1’16 Q1’15 CHANGE

$179.9 M

43.1%

4.4%

34.7%

$7.1 M

3.9%

$0.25

$185.7 M

42.0%

4.2%

33.4%

$8.3 M

4.4%

$0.27

(3.2%)

+110 bps

+20 bps

+130 bps

(14.0%)

(50 bps)

(7.4%)

TENNANT COMPANY

2016 First QuarterOrganic Sales Growth 0% | Americas Sales up 1.7% organically

35

SALES

GROSS MARGIN

OPERATING PROFIT

OPERATING PROFIT MARGIN

DILUTED EPS

Q1’16 Q1’15 CHANGE

$183.5 M

43.5%

$8.2 M

4.5%

$0.29

$185.7 M

42.0%

$8.3 M

4.4%

$0.27

(1.2%)*

+150 bps

(0.8%)

+10 bps

+7.4%

TENNANT COMPANY

2016 First Quarter“CONSTANT CURRENCY” VIEW (excludes estimated foreign exchange impact)

CONSTANT(1)

CURRENCY

Q1’16

AS REPORTED

$179.9 M

43.1%

$7.1 M

3.9%

$0.25

(1)“Constant Currency”: estimated income statement which assumes no change in exchange rates from prior year.

*Organic Sales Growth, excluding approximately 2.0% unfavorable foreign currency exchange impact and the impact from the divestiture of the Green Machines outdoor city cleaning line of 1.2%, was 0%.

36

History of Sales Growth2010-2015 Average Organic Sales Growth of 7%

36

$553$599

$664$701

$596

$668

$754 $739 $752

$822 $812

$0

$100

$200

$300

$400

$500

$600

$700

$800

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

‘16 Guidance

$795M to

$825M

NE

T S

AL

ES

(in

mill

ions

)

Organic Growth

8% 7% 6% 0%-4%<1.5%> <13%> 12% 10.5% 0% 3% 10.3% 4.3%

Anticipated Organic Growth

37

TENNANT COMPANY

Strong Balance Sheet

Commitment To Shareholder Return

1Q’161Q’15FY’15

$223,102

$194,299

$214,423

$206,954

$212,016

$227,543 $223,940

8.8%

20.2%

25.7%

30.3% 30.9% 31.7%30.3%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

$170,000

$180,000

$190,000

$200,000

$210,000

$220,000

$230,000

$240,000

$000s

38

Improved Profitability & Balance Sheet LeverageReturn on Invested Capital Improvement 2009 – 2015*

*On a “Constant Currency” basis, 2015 ROIC would have been 33.7%.

‘09 ‘10 ‘15‘11 ‘12 ‘13 ‘14

Ave

rag

e In

vest

ed C

apit

al

Adj OP

$19.5M

Adj OP

$39.2M

Adj OP

$55.2M

Adj OP

$62.7M

Adj OP

$65.4M

OP

$72.1M

Adj OP

$68.1M

38

Operating Profit Margin Goal

Drive organic revenue growth in mid- to high-

single digits

39

Remain committed to at least 12% OP Margin

Hold fixed costs essentially flat in

manufacturing as volume rises

Strive for zero net inflation

at gross profit line

Standardize & simplify

processes to improve

scalability of business model

Continue to invest in

innovative new products

& technologies

S, G & A Expense

27-28%

R&D

3-4%

Gross Margins

43-44%

Sales Growth

5-9%

2016 Financial Outlook$2.25 to $2.55 | $795M to $825M

• Net sales in the range of $795M to $825M versus $811.8M in 2015.

• Slower economic growth in North America, modest improvement in

Europe, and growth in emerging markets.

• Foreign currency impact on sales in the range of an unfavorable 1%

to 2%.

• Sales decline from divestiture of approximately 1%.

• Organic sales growth, excluding foreign currency exchange impact

and divestiture, in the range of 0% to 4%.

• Foreign currency exchange headwinds estimated to negatively

impact operating profit in the range of $3M to $6M, or approximately

$0.10 to $0.20 EPS.

• Gross margin of approximately 43%.

• R&D expense of approximately 4% of sales.

• Effective tax rate of approximately 31% (negatively impacting 2016

by approximately $0.05 EPS).

• Capital expenditures in the range of $25M to $30M.

28

2016 EPS & Sales Guidance

2015 ACTUAL

$1.74EPS

$811.8MSALES

$2.49EPS

$811.8MSALES

As Reported As Adjusted

40

Summary

41

Anticipate foreign currency & global economic volatility remain challenging in coming quarters

Tennant has never been positioned better in the market with its innovative product and technology portfolio and go-to-market strategy

We remain committed to our goals of $1 Billion in organic sales & a 12% or above operating profit margin

$1B