Titan International : 2023 CSR Report

2 0 2 3

CORPORATE SOCIAL RESPONSIBILIT Y REPORT

PAGE INTENTIONALLY

LEFT BLANK

3

| 2 0 2 3

ABOUT THIS REPORT

AT TITAN, WE CARE ABOUT THE WORLD IN WHICH WE LIVE AND DO BUSINESS. We recognize the role we play in minimizing the impact we have on our environment, and because we are a complete solutions provider, there are many opportunities for us to influence our surroundings. In addition to providing high-quality,long- lasting products for our customers, ensuring a safe and welcoming workplace for our employees, and supporting the communities in which we live and work, we strive to reduce our carbon footprint and make a positive contribution to our ecosystem.

In our first Corporate Social Responsibility report, published in 2021, we highlighted many of the areas in which we are making a difference. In this report, covering 2022- 2023, we have updated those areas and expanded on the work we continue to do to make the world a safer, more environmentally sound place.

We are committed to making a difference in

our world, and there are endless opportunities to do so."

MESSAGE FROM OUR CEO

Titan is committed to making continuous improvements in the way we do business in order to lower our impact on the environment and provide a cleaner, safer world in which to live and work. We are proud of the products and services Titan offers customers around the world, and we recognize our need to set an example in the environmental, social, and governance (ESG)

roles we play.

Protecting our environment can take many forms, from revising the ways we source and manufacture our products to reducing or eliminating adverse environmental impacts. We believe our commitment to sustainability in production and the efforts made to reduce our carbon footprint, will be strong differentiators in the years to come. In this report, we share examples of how we are changing our production, refining our products, and

improving the environment through proper energy management, waste reduction, recycling and reuse, pollution prevention,

and emissions control. We have environmental management systems in place to help us monitor energy consumption, waste management, and overall environmental health so we can improve our environmental performance.

While we began our ESG journey years ago, recent government legislation has provided new motivation for our efforts. In Europe, for example, many countries provide capital grants related to energy reduction, and we are well positioned to take advantage of them. As our customers pledge to meet carbon targets, we are eager to support them, as well.

An important part of our ESG efforts involves our social commitment. We maintain strict adherence to policies related to human rights, labor, anti-corruption, and workplace diversity. Titan is committed to providing a safe, welcoming environment for our employees, offering opportunities for advancement and recognition at all levels of our company. Likewise, we continue to support the communities in which we do business, with employee involvement, monetary contributions, sponsorships, and material donations.

We have increased our monitoring capabilities to give us a greater window into our overall environmental health, measuring our performance, and tracking our improvements.

We are committed to making a difference in our world, and there are endless opportunities to do so. To read more about Titan's ESG efforts, visit our Investor Relations web page devoted to ESG.

Paul G. Reitz

President and CEO

COMPANY OVERVIEW

Titan International, Inc. is one of the largest manufacturers of off-the-road wheels, tires, assemblies, and undercarriages, serving the agricultural, earthmoving, mining, construction, and consumer markets from more than 50 locations in 21 countries. More than 6,900 employees adhere to the principles of One Titan, which promotes customer satisfaction by guiding our actions to promote honesty, collaboration, and accountability. We are driven to provide innovative, high-quality products that meet the diverse needs of our customers around the world.

Global Footprint

•WHEELS •TIRES •UNDERCARRIAGE •MINING SERVICES •DISTRIBUTION/SALES

	NORTH AMERICA	LATIN AMERICA/	EUROPE/CIS
	SOUTH AMERICA
	•West Chicago, IL, U.S.A.	•Ceprano, FR, Italy
	•Atibaia, Brazil
	(Corporate Headquarters)	•Fanano, MO, Italy
	•Buenos Aires, Argentina
	•Bryan, OH, U.S.A.	•Finale Emilia, MO, Italy
	•Cali, Columbia
	•Dallas, TX, U.S.A.	•Flers, France
	•Iquique, Chile
	•Des Moines, IA, U.S.A.	•Gevelsberg, Germany
	•/•Lima, Peru
	•Elkhorn, WI, U.S.A.	•Jesi, AN, Italy
	•Parauapebas, Pará, Brazil
	•Freeport, IL, U.S.A.	•Kidderminster, U.K.
	•São Paulo, Brazil
	•Fort McMurray, AB, Canada	•Monreal del Campo, Spain
	•/•Santiago, Chile
	•Holden, WV, U.S.A.	•Potenza, Italy
	•Jefferson, GA, U.S.A.	ASIA/AFRICA	•St. Helens, U.K.
	•Querétaro, Mexico	•Aydin, Turkey	•Valsamoggia, BO, Italy
	•Quincy, IL, U.S.A.	•Heidelberg, South Africa	•Volgograd, Russia
	•Union City, TN, U.S.A.	•Jakarta, Indonesia	AUSTRALIA
	•Winston-Salem, NC, U.S.A.	•Liuzhou, China	•Perth, WA
		•Tianjin, China	•Yatala, QLD
		•Visakhapatnam, Andhra
		Pradesh, India
4	| 2 0 2 3

Titan's Environmental, Social, and Governance (ESG) Journey

We are committed to being a positive influence in the world by making significant contributions to environmental issues, social matters, and corporate governance. To do that, we continue to adhere to, enhance, and update our ESG policies:

Human Rights Policy	Labor Management Policy
Occupational Health and Safety Policy	Diversity and Inclusion Policy
Environmental Policy	Conflict Minerals Policy

Sustainable Natural Rubber Policy

We continue to improve our monitoring of operational energy consumption, waste management, pollution prevention, and emission control. Currently, 58% of our locations are ISO 14001 certified, an increase of 12% since 2021. This is the international standard for environmental management. Titan Asia became ISO 14001 certified in 2022.

In addition, we maintain our commitment to the United Nations Global Compact that contains principles focused on human rights, labor, the environment, and anti-corruption. Additional details on our ESG policies can be found on the ESG tab of our investor relations website at https://ir.titan-intl.com/ESG.

Titan International and its partners seek to enrich the lives of others by promoting environmental stewardship and reducing the environmental impact of natural rubber production through its Sustainable Natural Rubber Policy, which was introduced in 2022.

Minerals

Titan remains a conflict minerals-free company, meaning the company does not purchase or use conflict minerals in any Titan products.

$1.8B		6,900+		1.0x
2023		Global		Net Debt
Revenue		Employees		Leverage
17%		$205M		14%
2023		2023		ROIC
Gross Margin		Adj. EBITDA

More than 6,900 employees adhere to the principles of One Titan, which promotes customer satisfaction by guiding our actions to promote honesty, collaboration, and accountability."

C O R P O R AT E S O C I A L R E S P O N S I B I L I T Y R E P O R T

5

1E N V I R O N M E N T A L

ENVIRONMENTAL UPDATE

Protecting our environment is a core value at Titan. We are contributing to positive changes by making product and facility improvements that help us manage energy consumption, reduce pollution, and diminish our impact on the world around us. By reducing waste through improved processes, managing risks associated with critical materials, and increasing our use of recycled products, we are increasing the efficiency of our manufacturing processes and making a positive impact on the environment. Currently, 19 of our global facilities are certified to ISO 14001, the international standard for environmental management.

Being a good steward of the environment means taking environmental considerations into account when designing and manufacturing our products. That can come in the form of greater production efficiencies, increased recycling, and waste reduction. The following pages have examples of ways Titan has addressed sustainability over the last two years.

UNITED STATES

Energy tracking project establishing our GHG emission for 2022 and 2023.

Totals

2022

2023

Total Energy (MMBtus)

2,692,189.24

2,244,708.18

Total Scope 1 (tCO2e)

112,779.58

91,410.35

Total Scope 2 (tCO2e)

93,835.01

86,267.98

Total Scope 1 and 2 (tCO2e)

206,614.59

177,678.33

These numbers show energy usage and emissions resulting from the direct and indirect usage of energy at Titan's 11 plants and offices in the United States. The total energy usage is a result of energy that we directly produce from an energy source, such as the use of natural gas in the production of steam in manufacturing. Emissions, or indirect energy usage, refers to the use of energy that other entities have converted into energy, including electricity produced from utility companies. We are expanding the scope of our energy program to include global facilities and will share future updates.

8

| 2 0 2 3

SUSTAINABILITY IN PRODUCTION

W HEEL S

North America

Energy

Environment

Solenoid valves were installed at phased intervals on chemical washers in 2023. The result is reduced water consumption by 11.7 million gallons.

Titan purchased 32,537 tons of Electric Arc Furnace (EAF) steel, which generates 75% less greenhouse emissions, reuses scrap steel, and greatly reduces the energy required to make steel when compared to primary steelmaking from ores.

Latin/South America

Energy

Environment

In Latin America, we added a dispersion tower to control environmental odor and an acoustical barrier to increase electrical power and treat air flow, decreasing the fugitive odor from the process. We installed acoustic roof tiles to reduce noise and made improvements in our scrubbers, improved boiler performance with an adjustment in the burner combustion curves, and reduced solvent consumption by 5% compared to 2022.

SOLVENT CONSUMPTION

Lts/100 lbs.

0,214

			0,193		0,186
			2021			2022	2023
Europe/Russia			Energy	Environment

Titan France reduced paint oven temperatures from 100° to 90° C. and recovered 93% of waste in 2022. Operations also reduced rinse water consumption by 40% (from 9.41 l/m2 in

2021 to 5.66 l/m2 in 2023) reducing rinsing tank flow, manually cutting sprays in tunnels after passing the last parts and when the chain is empty.

In the United Kingdom, Titan is leading the way with savings of more than £1m annually in energy and a reduction of nearly 50% in CO2 per kg of product. The plant is now working with steel suppliers on green steel as the next major step to complete carbon neutrality.

In addition, Titan's use of recycled packaging here grew from 0% to 100%. Other European plants are achieving more than 90% use of recycled packaging. Across the European business units, the use of recycled packaging is saving more than 2,000 trees and a considerable amount of money.

Titan Steel Wheels reduced the number of lorries delivering items and removed waste to ease traffic and reduce GHG emissions. It also now uses a renewable electricity source that meets the quality criteria of the GHG protocol for reporting zero Scope 2 market-based carbon emissions. In 2022, Titan installed VSDs on a 2,000-ton hydraulic press, saving 217,000 kWh per year and reducing Scope 2 GHG emissions by 62 tons of CO2e per year. In 2023, it used purely green energy, reducing Scope 2 GHG emissions by 1,723 tons of CO2e per year.

In Italy, engineers developed a mechanism for recycling a part of treatment plant wastewater, reducing water usage by 20%. They also initiated a new technique for recycling oil used in production, saving about 60% in oil usage.

C O R P O R AT E S O C I A L R E S P O N S I B I L I T Y R E P O R T

9