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BofAML Has Substantial Experience in Container Leasing

$42.90 per share

March 2013

$173 MM

Common Stock Add-On

September 2012

$272 MM

$31.50 per share

Equity

Common Stock Add-On

March 2011

$218 MM

$36.00 per share

$36.42 per share

February 2012

$109 MM

1

Structuring Lead Manager

Initial Principal BalanceClass A: 2.85% Notes (2.83% Yield)Class B: 4.00% Notes (3.96% Yield)

TAL Advantage V LLCSeries 2013-1

Container Lease

March 2013

$272 MM

Has Been Sold to

Financial advisor to SeaCube

April 2013

$1.7 BN

Structuring Lead Manager

CAI Funding II Limited3.47% $171MM Inaugural20121 ABS Yield of 3.50%

October 2012

$171 MM

Joint Lead Manager

4.21% $400MM ABS OfferingFixed Yield of 4.25%

Textainer Marine ContainersLimited

Series 2012-1

April 2012

$400 MM

Sole Manager

Common Stock Block Trade4,036,796 Shares

Lead Left Bookrunner

Offering

8,634,921 Shares

Sole Financial Advisor to Triton

May 2011

Undisclosed

Has Been Sold to

And

Advisory ABS

Lead Left Bookrunner

Offering

6,055,000 Shares

Sole Manager

Common Stock Block Trade3,000,000 Shares

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Container Boxes Vs. Other Leased Asset Classes

Railcar Aircraft Containerships Container Boxes

Average Cost of Assets ~$90,000Wide Body: $200mm (1)

Narrow Body: $80mm (2)3,500 TEU: ~$50mm

10,000 TEU: ~$100mm20 Dry Van: ~$2,500

Asset Purchase Lead Time 1 2 Years ~ 3 Years 2 - 3 Years ~ 3 Months

Residual Value~45 year useful life withpegged residual value($8,000 - $10,000)

~25 year useful life with15% residual value

Low residual b/c ofpressurized environment

~25 year useful life 12 15 years with 40%

residual value

2

____________________ Source: Company filings, Clarksons, Oliver Wyman research, AVITAS and Wall Street Research.(1)Represents list price of a new A330. (2) Represents average list price of a new A319 and A320.

Customer Base Rail, Leasing, Shipping

Companies Global Airlines Global Container Liners Global Container Liners

Competition A few large players with

many smaller players

Market saturated: dozensof competing lessorsdriving down rates

Numerous lessors

KGs out of marketLimited number ofcompeting lessors

OEM Limited number of

producersPotential overproductionat present

Numerous shipyards inChina, Korea, and Asia

Only two majorproducers (Singamas,CIMC)

Method of Debt Financing

HG Bonds

Asset Based Financing

(Influenced by companysize and credit quality)

Asset Based Financing(Securitization / TermLoans)

Public BondsPrimarily Bank Debt

Asset Based Financing

Private Placement Bonds

Bank Debt

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15%

3%3%

13%

Competitive Landscape

Other

DFIC

Gold

Public Container Leasing CompaniesTop 10 Lessors 2012 Market Share (1)

Fleet Size

('000s TEU)

(Owned / Managed) 73% / 27% 99% / 1% 72% / 28%

2,809 2,000 1,091

15%

12%

10%9%

8%

6%6%

3

____________________ (1) Source: Harrison Consulting. Represents market share of total fleet by cost equivalent unit (CEU) as of June 30, 2012.(2) Company filings and Factset as of June 19, 2013.

Average Utilization 95.4% 97.7% 92.2%

Current Market

Capitalization (2) $2,165 $1,435 $599

Valuation

('13E / '14E P / E) (2) 9.9x / 8.9x 9.1x / 8.7x 7.5x / 6.4x

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8%

9%

43%

Top 5 Lessors: Market Share (As Measured By TEUs)

Niche Industry with Structural Barriers to Entry

Other 34%

1998 Today (1)

15%

39%Other 42%

17%

7%

17%

4

Top 5 lessors have remained the same for over a decade

____________________ Source: Container International. Harrison Consulting.(1) Represents market share of total fleet by cost equivalent unit (CEU) as of June 30, 2012.

15%

12%

10%9%

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Attractive & Stable Return on Equity

Returns and Earnings Have Been Relatively Strong andStable Through the Cycle

23%

30.0%

40.0%

____________________ Source: Company filings and Factset as of June 19, 2013.

Note: ROE is calculated as net income divided by the average shareholders equity.(1) Container Lesssors include TAL International, Textainer Group Holdings, and CAI International.(2) Containership Lessors includes Seaspan and Costamare.(3) Aircraft Lessors includes AerCap Holdings and Aircastle and AirLease.(4) Equipment Leasing includes Ryder, GATX Corp, Trinity, Mobile Mini and Greenbrier Companies Inc.

5

Equipment Leasing (4)Aircraft Lessors (3)Container Lessors (1) Containership Lessors (2)

18%

5%

12%

2006 2007 2008 2009 2010 2011 2012

(10.0%)

0.0%

10.0%

20.0%

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250%

300%

350%

400%

Box Lessors Were the First to Recover Out of the Downturnon the Back of Improving Fundamentals

380%

284%

Box Lessors Led the Recovery Beginning in Late 2009

0%

50%

100%

150%

200%

Jan-09 Apr-09 Aug-09 Dec-09 Apr-10 Aug-10 Nov-10 Mar-11

Box Leasing Aircraft Leasing Equipment Leasing Containership Leasing S&P 500

6

141%

198%

121%

____________________

Source: Wall Street research and Clarksons website.(1)Container Leasing includes CAI International, TAL International, Textainer Group Holdings and SeaCube.(2) Aircraft Lessors includes FLY Leasing, Aircastle, AirLease and AerCap.(3) Equipment Leasing includes Ryder, Greenbrier, Mobile Mini, Trinity and GATX Corp.(4) Containership leasing includes Costamare, Diana Containerships, Danaos, Box Ships, and Seaspan.

(2) (3) (4)(1)

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20%

25%

Return On EquityPrice / Book

Container Lessors Are Undervalued

Price / Book 2013E P/E

Container Lessors (1)

15.9x15.1x

16.0x

20.0x

3.0x

4.0x

0%

5%

10%

5.0x 10.0x 15.0x 20.0x

7

____________________

Source: Company filings and Factset as of June 19, 2013.(1) Container Lesssors include TAL International, Textainer Group Holdings, and CAI International.(2) Containership Lessors includes Seaspan and Danaos.(3) Aircraft Lessors includes AerCap Holdings, Aircastle and AirLease.(4) Equipment Leasing includes Ryder, GATX Corp, Trinity, Mobile Mini and Greenbrier Companies Inc.

Equipment Leasing (4)Aircraft Lessors (3)Container Lessors (1) Containership Lessors (2)

Containership Lessors (2)

Aircraft Lessors (3)Equipment Leasing (4)

2013E P/E

5 - Y e a r

A v g . R

O E

2.0x

1.1x1.0x

1.9x

8.8x

11.0x

0.0x

4.0x

8.0x

.

0.0x

1.0x

2.0x

Container Containership Aircraft Equipment

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Significant M&A Activity

There Has Been Significant Recent M&A Activity

Asset Buyer Date

Ontario Teachers Pension Plan January 2013

HNA / Bravia Capital August 2011

Vestar Capital / Warburg Pincus February 2011

8

While Traditional KG Owners Have Essentially Reduced their Activities

____________________ Source: Konig & Cie; Marine Money, September 2012.

2,4543,261 3,534

3,995

6,113 6,2657,073

5,871

7,391

5,743

1,576 1,694986

0

2000

4000

6000

8000

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Equity Debt

($ in Millions)

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Strong Appetite for Alternative ABS

Container ABS New Issues Post Crisis

Most of the major container lessors utilize the term ABS markets as a primary funding source for cap ex with over ~$2.5BN of containerterm ABS issued in 2012

TAL IV 2010-1 Jun-10 $197MM 5.50% TALTAL IV 2010-1 Oct-10 $203MM 4.30% TALTAL IV 2011-1 Jan-11 $174MM 4.60% TALCLIF 2011-1 Mar-11 $230MM 4.50% SeacubeTAL IV 2011-2 May-11 $235MM 4.31% TALTMCL 2011-1 Jun-11 $400MM 4.70% Textainer

- -

9

.

CRNN 2011-1 Nov-11 $200MM 5.00% CronosTMCL 2012-1 Apr-12 $400MM 4.25% TextainerTAL 2012-1 May-12 $250MM 3.90% TALTCF 2012-1 May-12 $500MM 4.25% TritonCRNN 2012-1 May-12 $250MM 4.25% CronosCLIF 2012-1 Jun-12 $225MM 4.25% SeacubeSEACO 2012-1 Jul-12 $250MM 4.15% SeacoCRNN 2012-2 Sep-12 $300MM 3.85% CronosBCF 2012-1 Sep-12 $250MM 3.75% BeaconCAI 2012-1 Oct-12 $171MM 3.50% CAITAL 2013-1 Feb-13 $272MM 2.85% Sr. & 4.00% Jr. TALCLIF 2013-1 Mar-13 $250MM 2.85% SeaCubeCAI 2013-1 Mar-13 $229MM 3.38% CAICRNN 2013-1 Apr-13 $300MM 3.10% CronosSEACO 2012-1 Apr-13 $400MM 3.00% SeacoCLIF 2013-2 Jun-13 $300MM 3.25% SeaCube