TENNANTCO.COM

REINVENTINGthe future of cleaning.

JEFFERIES PRESENTATIONAugust 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

Competitive Landscape2015 $5B Global Cleaning Equipment Market*

18%Tennant | Nobles |

Alfa | Orbio

Nilfisk | Advance |

Clarke | Viper

Hako | Minuteman |

PowerBoss

Karcher | Windsor |

TecServ | ProChem

Taski

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

17%

11%

9%3%

42%

* Estimated market size in

“constant currency” U.S. dollars

for Tennant-like equipment

categories and aftermarket.

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

Strategic Priorities

12

.

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

13

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

14

552012-2014

362015

New Product DevelopmentStrongest Product Pipeline Ever!

142016

15

– Launched M20 & M30 Sweeper-Scrubbers and T20 Heavy-Duty Industrial Rider Scrubber with high-tech features

• Touch-n-GoTM Steering-wheel-mounted control module

• Pro-PanelTM intuitive touch-screen interface

16

Tennant CompanyNew Products

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

17

• 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

18

FINANCIALSummary

Reinventing the future of cleaning.

19

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

20

21

SALES

GROSS MARGIN

R&D EXPENSE (% of sales)

S&A EXPENSE (% of sales)

OPERATING PROFIT

OPERATING PROFIT MARGIN

DILUTED EPS

Q2’16 Q2’15 CHANGE

$216.8 M

43.9%

3.9%

29.6%

$22.6 M

10.4%

$0.85

$215.4 M

44.1%

3.9%

29.7%

$22.6 M

10.5%

$0.79

+0.7%

(20 bps)

+0 bps

(10 bps)

0%

(10 bps)

+7.6%

2016 Second QuarterOrganic Sales Growth 2.4% | EMEA Sales up 6.3% Organically

22

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

22

$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

$800M to

$820M

NE

T S

AL

ES

(in

mill

ions

)

Organic Growth

8% 7% 6% 1%-3%<1.5%> <13%> 12% 10.5% 0% 3% 10.3% 4.3%

Anticipated Organic Growth

$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

23

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

23

2016 EPS & Sales Guidance

24

2015ACTUAL

As Reported$1.74 EPS

$811.8M SALES

As Adjusted

$2.49 EPS$811.8M SALES

2016 Financial Outlook$2.35 to $2.60/$800M to $820M

KEY EXPECTATIONS FOR 2016• Net sales in the range of $800M to $820M 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 Green Machines divestiture of approximately 1%.• Organic sales growth, excluding foreign currency exchange impact and divestiture,

in the range of 1% to 3%.• Foreign currency exchange headwinds estimated to negatively impact operating

profit in the range of $3M to $4M, or approximately $0.10 to $0.15 EPS.• Gross margin performance in the range of 43% to 44%. • R&D expense of approximately 4% of sales.• Effective tax rate of approximately 31% (negatively impacting 2016 by

approximately $0.05).• Capital expenditures in the range of $25M to $30M.

Summary

25

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