Tennant Company held an earnings call to discuss its third quarter 2016 results. It reported net sales of $200.1 million, down slightly organically due to sluggish conditions in EMEA and APAC. However, the Americas saw record quarterly revenue. Earnings per share were $0.64. Tennant also discussed two recent acquisitions and its pipeline of new product launches. Looking ahead, Tennant expects a return to organic sales growth in the fourth quarter and remains committed to achieving at least a 12% operating profit margin through revenue growth and cost controls.

1. TENNANT COMPANY
Earnings Release Conference Call
Third Quarter 2016
Tuesday, October 25, 2016
1

2. Chris Killingstad
President and CEO
Tom Paulson
Senior VP, CFO
2
TENNANT COMPANY
On the Call Today

3. Our remarks this morning and our answers to questions may contain forward-looking
statements regarding the company’s expectations of future performance. Such statements are
subject to risks and uncertainties, and our actual results may differ materially from those
contained in the statements. These risks and uncertainties are described in today’s news
release and the documents we file with the Securities and Exchange Commission. We
encourage you to review those documents, particularly our Safe Harbor statement, for a
description of the risks and uncertainties that may affect our results.
Additionally, on this conference call we will discuss non-GAAP measures that include or
exclude special or non-recurring items. For each non-GAAP measure, we also provide the
most directly comparable GAAP measure. There were special non-GAAP items in the third
quarter of 2015. Our 2016 third quarter earnings release includes a reconciliation of these
non-GAAP measures to our GAAP results for the third quarter and EPS for 2015 full year.
3
TENNANT COMPANY
FORWARD LOOKING STATEMENTS
& NON-GAAP MEASURES

4. • 2016 third quarter consolidated net sales of
$200.1M
– Sluggish environment for industrial manufacturers
– Lower sales in EMEA and APAC
– Record revenue for a third quarter in Americas
• Sales through strategic accounts and sales of new products
– Net earnings of $0.64 per diluted share
• Tennant remains competitively well positioned
for growth
– Expect to return to organic sales growth in 2016
fourth quarter
4
TENNANT COMPANY
2016 Third Quarter Overview

5. • Acquired Florock® Brand
– Expands our commercial floor coatings business
– Combination of Tennant Coatings and Florock opens
new markets and strengthens value proposition
• Acquired Assets of Dofesa Barrido Mecanizado
– Long-time distributor of Tennant equipment in
central Mexico
– Acquisition is a key investment for growth in Latin
America
– Enhances Tennant’s sales and service capabilities
5
TENNANT COMPANY
2016 Third Quarter Acquisitions

6. 6
• New products and technologies
– Sales of new products introduced in last three years
was 37% of equipment sales in 2016 first nine
months
• Plan to launch 10 new products in
2016
– Several significant industrial machine launches
– Launched M20 & M30 Sweeper-Scrubbers and T20
Heavy-Duty Industrial Rider Scrubber with high-tech
features
– Launched M17 Battery-Powered Sweeper-Scrubber
TENNANT COMPANY
New Products

7. 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 thru 3Q 2016
$1.0 billion+
cumulative revenue
8,000+
customers
30,000+
sites
85,000+
machines
7
Record Sales of $157M in 2015

8. – +
Water
Recycling
Battery
Technologies
Robotics
(AGV)
Asset
Management
Advanced Product Development
Future Technologies
8

9. DIGITAL
TRANSFORMATION
9
IRIS®
e-Business
e-Commerce
Platform
CRM

10. • Diverse portfolio of initiatives to create value
• Introductions of new products and technologies
• Expanding global sales and marketing to increase
global market share
• Building Tennant’s e-Business capabilities
• Concurrently running a more efficient business to
raise productivity
10
TENNANT COMPANY
Growth & Profitability

11. 11
Q3’16
SALES
GROSS MARGIN
R&D EXPENSE (% of sales)
Adjusted*
S&A EXPENSE (% of sales)
Adjusted*
OPERATING PROFIT
Adjusted*
OPERATING PROFIT MARGIN
Adjusted*
DILUTED EPS
Q3’15 CHANGE
TENNANT COMPANY
2016 THIRD QUARTER
$200.1 M
42.6%
4.2%
30.3%
$16.3 M
8.1%
$0.64
$204.8 M
43.3%
4.0%
30.7%
$17.5 M
8.6%
$0.68
(2.3%)
(70 bps)
+20 bps
(40 bps)
(7.4%)
(50 bps)
(5.9%)
Organic Sales Growth (2.2%) | Americas Organic Growth 1.2%
*Q3’15 results are adjusted to exclude restructuring charge in S&A of $1.8M pre-tax ($0.09 per
diluted share) and non-cash long-lived asset impairment of $11.2M pre-tax ($0.64 per diluted share).

12. 12
• Sales up 1.2% organically
(excluding 1.0% impact from Florock acquisition)
• Record sales for a third quarter
• Increased sales to strategic accounts and sales of
new products
• Latin America achieved 10% organic sales growth
• Larger-than-normal order backlog at quarter end
TENNANT COMPANY
2016 Third Quarter by Region
AMERICAS

13. • Sales decreased 7.6% organically
(excluding approx. 2.5% unfavorable foreign currency impact and 5.0%
impact from divestiture of Green MachinesTM outdoor city cleaning line)
• Positive organic sales growth through distribution in
Western Europe, more than offset by organic sales
declines elsewhere, particularly in the U.K.
13
EMEA
TENNANT COMPANY
2016 Third Quarter by Region

14. • Sales declined 15.1% organically in 2016 third
quarter
(excluding 2.0% favorable foreign currency impact)
• Strong organic sales growth of 21.3% in 2015
third quarter and organic sales increased in all
countries within this region
14
APAC
TENNANT COMPANY
2016 Third Quarter by Region

15. 15
Q3’16
SALES
GROSS MARGIN
R&D EXPENSE (% of sales)
Adjusted*
S&A EXPENSE (% of sales)
Adjusted*
OPERATING PROFIT
Adjusted*
OPERATING PROFIT MARGIN
Adjusted*
DILUTED EPS
Q3’15 CHANGE
TENNANT COMPANY
2016 THIRD QUARTER
$200.1 M
42.6%
4.2%
30.3%
$16.3 M
8.1%
$0.64
$204.8 M
43.3%
4.0%
30.7%
$17.5 M
8.6%
$0.68
(2.3%)
(70 bps)
+20 bps
(40 bps)
(7.4%)
(50 bps)
(5.9%)
Organic Sales Growth (2.2%) | Americas Organic Growth 1.2%
*Q3’15 results are adjusted to exclude restructuring charge in S&A of $1.8M pre-tax ($0.09 per
diluted share) and non-cash long-lived asset impairment of $11.2M pre-tax ($0.64 per diluted share).

16. 16
SALES
GROSS MARGIN
Adjusted*
OPERATING PROFIT
Adjusted*
OPERATING PROFIT MARGIN
Adjusted*
DILUTED EPS
Q3’16 Q3’15 CHANGE
TENNANT COMPANY
2016 THIRD QUARTER
“CONSTANT CURRENCY” VIEW (excludes estimated foreign exchange impact)
CONSTANT(1)
CURRENCY
Q3’16
AS
REPORTED
(1)“Constant Currency”: estimated income statement which assumes no change in exchange rates from prior year.
*Q3’15 results are adjusted to exclude restructuring charge in S&A of $1.8M pre-tax ($0.09 per diluted share) and non-cash
long-lived asset impairment of $11.2M pre-tax ($0.64 per diluted share).
$200.1 M
42.4%
$15.8 M
7.9%
$0.62
$204.8 M
43.3%
$17.5 M
8.6%
$0.68
(2.3%)
(90 bps)
(10.2%)
(70 bps)
(8.8%)
$200.1 M
42.6%
$16.3 M
8.1%
$0.64

17. Remain committed to at least 12% OP Margin
• Drive organic revenue growth in mid- to high-single digits
• Hold fixed costs essentially flat in manufacturing as volume
rises
• Strive for zero net inflation at gross profit line
• Standardize and simplify processes to improve scalability of
business model
17
TENNANT COMPANY
Operating Profit Margin Goal

18. • Overall effective tax rate for 2016 first nine months
of 30.6%
• Base tax rate of 31.7%
(excluding routine discrete items)
• Federal R&D tax credit – was re-enacted for 2016;
favorable benefit included in 2016 tax rate
18
TENNANT COMPANY
Successful Tax Strategies

19. 19
TENNANT COMPANY
Strong Balance Sheet
Commitment To Shareholder Return
FY ‘15 YTD Sept ‘15 YTD Sept ‘16

20. 20
TENNANT COMPANY
2016 EPS & Sales Guidance
2015
ACTUAL
As Reported
$1.74EPS
$811.8MSALES
AsAdjusted
$2.49EPS
$811.8MSALES
2016 Financial Outlook
$2.40 to $2.60/$805M to $815M
KEY EXPECTATIONS FOR 2016
• Net sales in the range of $805M to $815M versus $811.8M in 2015.
• Continued slow economic growth in North America, modest improvement in
Europe, and growth in emerging markets.
• Unfavorable foreign currency impact on sales of approximately 1%.
• Sales decline from Green Machines divestiture of approximately 1%.
• Sales increase from Florock acquisition of approximately 1%.
• Organic sales growth, excluding foreign currency exchange impact, divestiture
and acquisition in the range of 0.2% to 1.4%.
• Foreign currency exchange headwinds estimated to negatively impact operating
profit in the range of $2M to $3M, or approximately $0.08 to $0.12 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.

21. QUESTIONS?
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22. Tennant is Well Positioned!
22
Competitively
advantaged in the market
with our innovative
product and technology
portfolio and go-to-
market strategy
Well positioned to
leverage our
operational efficiency