The presentation outlines Tennant Company's strategy to achieve $1 billion in revenue by 2017 through organic growth. It plans to reach this goal by focusing on new customers and markets, continuing to deliver innovative products, and maintaining financial discipline. Tennant provides cleaning solutions globally and aims to lead the industry in sustainable cleaning innovation.

1. July 2015
Investor Presentation

2. 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, 2014, and in Part II, Item 1A Risk Factors in our most recent quarterly
report on Form 10-Q. 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 HARBOR STATEMENT
2

3. KEY FACTS
• 69 consecutive years of cash dividends
• 43 consecutive years of increase in annual cash dividend payout
• Strong balance sheet
AWARDS
• 2014 IDEA Award – B5 Battery Burnisher
International Design Excellence Awards
• 2013 GOOD DESIGN Award – T12 Rider Scrubber
Industrial Design Excellence
• 2012 Australian Business Awards – Orbio 5000-Sc
Top Honours
• 2011 R&D 100 Award Winner – 500ze
R&D Magazine
• 2009 Manufacturer of the Year Award
ABM Industries, Inc.
• 2009 Business Innovation of the Year – ec-H2O
European Business Awards
• 2008 R&D 100 Award Winner – ec-H2O
R&D Magazine
• 2007, 2008 & 2014 America’s 200 Best Small Companies
Forbes
• 2007, 2014 & 2015 America’s Most Trustworthy Companies
Forbes
TENNANT COMPANY AT-A-GLANCE
Founded:
1870
2014 Revenues:
$822M
2014 Employees:
3,087
Manufacturing Sites:
7
NYSE Symbol:
TNC
3

4. 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 LANDSCAPE
Worldwide Market Share 2011 Estimate – $4.6 Billion*
5

6. UNIQUE
CLEANING
SOLUTIONS
6

7. QUALITY PRODUCTS
7

8. STRONG DIRECT SALES
& SERVICE ORGANIZATIONS
8
0
100
200
300
400
500
600
2010 2011 2012 2013 2014
Americas EMEA APAC
0
100
200
300
400
500
600
700
800
900
2010 2011 2012 2013 2014
Americas EMEA APAC

9. 9
BROAD RANGE OF
GLOBAL CUSTOMERS
9

10. 2014 REVENUE OF $822M
10

11. Organic Growth Objective:
Achieve $1 Billion in revenue by 2017.
Remain committed to 12% operating
profit margin goal.
11

12. $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%)
HOW WE WILL REACH $1B
12

13. Reach new customers
& new markets
Continue delivering
what we know works
Don’t lose sight of the
discipline we’ve established
1
2
3
13

14. Reach
new customers
& new markets
1
14

15. Product Presence Hit Rate Market Share
Frank Lynn & Associates Process
×× =40% 19%
PPHSM Analysis
75% 67%
REACH NEW CUSTOMERS
& NEW MARKETS
Increasing Presence
15

16. Industrial Education Healthcare Retail
REACH NEW CUSTOMERS
& NEW MARKETS
Focus on Key Verticals
16

17. Your text
here
• Empower our
customers
• Anticipate their needs
• Enhance their
experience
• New customers
• New geographies
• Expand products
• Repurpose staff
• Self-service
• Reduce manual
interventions
• Cost avoidance
Good Experience Increase Revenue Lower Cost of Sale
REACH NEW CUSTOMERS
& NEW MARKETS
New Channels – E-commerce
17

18. 2Continue
delivering what
we know works
18

19. RESEARCH AND DEVELOPMENT
19

20. NEW PRODUCT GROWTH
18in 2014
36in 2015
Strongest product pipeline ever!
20in 2013
17in 2012
20
20+
In 2016

21. T12 Rider
Scrubber
NEW MODULAR PLATFORM
T17 Rider Scrubber
Faster Speed to Market
21

22. SUSTAINABLE CLEANING
22

23. ec-H2O NanoClean™
Launched April 2015
FIRST GENERATION
EC-H2O™: 2008-2014
$740 million+
cumulative revenue
7,500+ customers
29,000+ sites
65,000+ machines
• Next generation ec-H2O
• Cleans more soils in
more applications
• Nano-scale bubbles
drive cleaning
performance
23

24. MORE FLEXIBILITY | EASE OF USE | IMPROVED PRODUCTIVITY
TENNANT COMPANY
T300 SCRUBBER
24

25. The Orbio 5000-Sc uses
Orbio Split Stream
Technology to electrically
restructure water and salt,
so you can create, store
and dispense an
environmentally friendly
multipurpose cleaning
solution – right on site!
Split Stream
25

26. Small, simple, affordable On-Site
Generation (OSG) technology
• Generates both cleaning and
antimicrobial solutions
• Fits into most janitorial closets
• Flexibility to dispense in remote locations
26

27. EMERGING MARKETS
Anticipating Solid Organic Growth
LATIN
AMERICA
PROJECTED
GROWTH RATE
+15%
next 5 years
CHINA
INCREASE
MANUFACTURING
EXPERTISE &
EXPAND MARKET
COVERAGE
PROJECTED
GROWTH RATE
+20%
next 5 years
27

28. STRATEGIC ACCOUNTS
Duplicate Successful Framework
N.A. Europe
Brazil
China
28

29. 3Don’t lose sight of
the discipline we’ve
established
29

30. PROFITABILITY FRAMEWORK
12%+ Operating Profit Margin Goal
30

31. Collections
Invoicing
Pricing
Machine
Configuration
Installed a global invoicing structure
tailored to the needs of our customers
Implemented a global standardized process
to manage payment & invoice disputes
Standardized discount & rebate policies
globally, while maintaining ability to
compete regionally
Standardized global product structure to
simplify quoting, ordering and product
data maintenance
STANDARDIZED & SIMPLIFIED
GLOBAL PROCESSES
31

32. LEAN OPERATIONS
SUPPORTS GROWTH
Speed:
Rapid market
response, short
lead-times
Flexibility: Ability to
configure & customize
to customer
requirements
Quality: Highest &
most consistent
quality & reliability
Cost: More
than offset
inflation
across the
supply chain;
driving gross
margin
improvement
32

33. *As adjusted
STRONG COST CONTROLS
Selling & Administrative Expense as a Percent of Sales*
33

34. FINANCIAL SUMMARY
34

35. 35
SALES
GROSS MARGIN
R&D EXPENSE (% of sales)
S&A EXPENSE (% of sales) (adjusted*)
OPERATING PROFIT (adjusted*)
OPERATING PROFIT MARGIN (adjusted*)
DILUTED EPS (adjusted*)
2014 2013 CHANGE
$822.0 M
42.9%
3.6%
30.5%
$72.1 M
8.8%
$2.70
$752.0 M
43.3%
4.1%
30.6%
$65.4 M
8.7%
$2.26
+9.3%
(40 bps)
(50 bps)
(10 bps)
+10.2%
+10 bps
+19.5%
TENNANT COMPANY
2014 FULL YEAR
Organic Sales Grew 10.3%
* 2013 results are adjusted to exclude restructuring charges of $3,017K pre-tax ($2,938K after-tax or $0.15 per diluted share),
and a tax benefit related to 2012 R&D tax credit of $582K (or $0.03 per diluted share). February 24, 2015, Earnings Release.

36. SALES
GROSS MARGIN
R&D EXPENSE (% of sales)
S&A EXPENSE (% of sales)
OPERATING PROFIT
OPERATING PROFIT MARGIN
DILUTED EPS
Q2’15 Q2’14 CHANGE
$215.4 M
44.1%
3.9%
29.7%
$22.6 M
10.5%
$0.79
$219.1 M
43.5%
3.5%
29.4%
$23.1 M
10.6%
$0.83
(1.7%)
+60 bps
+40 bps
+30 bps
(2.4%)
(10 bps)
(4.8%)
TENNANT COMPANY
2015 SECOND QUARTER
Organic Sales Growth 3.8% | Strong Growth in North America
36

37. SALES
GROSS MARGIN
OPERATING PROFIT
OPERATING PROFIT MARGIN
DILUTED EPS
Q2’15 Q2’14 CHANGE
$227.4 M
44.9%
$26.0 M
11.4%
$0.92
$219.1 M
43.5%
$23.1 M
10.6%
$0.83
+3.8%
+140 bps
+12.2%
+80 bps
+10.8%
TENNANT COMPANY
2015 SECOND QUARTER
“CONSTANT CURRENCY” VIEW (excludes estimated foreign exchange impact)
CONSTANT(1)
CURRENCY
Q2’15
AS
REPORTED
$215.4 M
44.1%
$22.6 M
10.5%
$0.79
(1)“Constant Currency”: estimated income statement which assumes
no change in exchange rates from prior year.
37

38. 38
SALES
GROSS MARGIN
R&D EXPENSE (% of sales)
S&A EXPENSE (% of sales)
OPERATING PROFIT
OPERATING PROFIT MARGIN
DILUTED EPS
1H’15 1H’14 CHANGE
$401.1 M
43.2%
4.0%
31.4%
$30.8 M
7.7%
$1.06
$403.1 M
42.7%
3.8%
30.9%
$32.4 M
8.0%
$1.14
(0.5%)
+50 bps
+20 bps
+50 bps
(4.7%)
(30 bps)
(7.0%)
TENNANT COMPANY
2015 FIRST HALF
Organic Sales Growth 5.0% | Strong Growth in North America

39. 39
SALES
GROSS MARGIN
OPERATING PROFIT
OPERATING PROFIT MARGIN
DILUTED EPS
1H’15 1H’14 CHANGE
$423.2 M
43.8%
$36.1 M
8.5%
$1.26
$403.1 M
42.7%
$32.4 M
8.0%
$1.14
+5.0%
+110 bps
+11.6%
+50 bps
+10.5%
TENNANT COMPANY
2015 FIRST HALF
“CONSTANT CURRENCY” VIEW (exclude estimated foreign exchange impact)
CONSTANT(1)
CURRENCY
1H’15
AS
REPORTED
$401.1 M
43.2%
$30.8 M
7.7%
$1.06
(1)“Constant Currency”: Estimated income statement which assumes
no change in exchange rates from prior year.

40. Experienced negative quarter-over-quarter sales
growth from 4Q’08 through 3Q’09 due to recession.
2011 returned to – and surpassed – prerecession sales levels.
2012 and 2013 impacted from economic headwinds in Europe.
2014 – Renewed focus on accelerating organic sales growth.
HISTORY OF SALES GROWTH
40

41. IMPROVED PROFITABILITY &
BALANCE SHEET LEVERAGE
Return on Invested Capital Improvement & Cash Generation ’09-’14
41

42. 2014 TOTAL SHAREHOLDER RETURN
42

43. Reaffirmed 2015 EPS Guidance
43

44. 44