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Titan Announces Early Settlement Of Tender Offer And Call For Redemption Of Its Senior Secured Notes Due 2017

Titan International, Inc. (NYSE: TWI) (“Titan” or the “Company”) today announced that the consent deadline with respect to its previously announced cash tender offer and consent solicitation (the “Tender Offer”) for any and all of its outstanding 7.875% Senior Secured Notes due 2017 (the “2017 Notes”) occurred on October 4, 2013 at 5:00 p.m., New York City time (the “Consent Deadline”). As of the Consent Deadline, according to information provided by the tender agent, holders of $387,319,000, or approximately 73.78%, of the total outstanding principal amount of the 2017 Notes tendered their notes and provided consents. The consents received are sufficient to effect the proposed amendments to the indenture governing the 2017 Notes and the release of the collateral securing the 2017 Notes.

Titan elected to exercise its early settlement election described in the Offer to Purchase and Consent Solicitation Statement, dated September 23, 2013 (the “Offer to Purchase”), relating to the Tender Offer. Holders of the 2017 Notes who validly tendered at or prior to the Consent Deadline will receive today (the “Early Settlement Date”) the total consideration of $1,064.50 per $1,000 principal amount of 2017 Notes validly tendered at or before the Consent Deadline and accepted in the Tender Offer, which includes a consent payment of $50.00 for each $1,000 principal amount of 2017 Notes, plus accrued and unpaid interest from the last interest payment date for the 2017 Notes to, but not including, the Early Settlement Date.

Titan also announced today that, in accordance with the redemption provisions of the indenture governing the 2017 Notes, it has called for redemption all 2017 Notes that are not validly tendered by the expiration of the Tender Offer at 12:00 midnight, New York City time, on October 21, 2013. The 2017 Notes will be redeemed on November 6, 2013.

Holders of 2017 Notes who validly tender their notes after the Consent Deadline but before the expiration of the Tender Offer will receive only the tender offer consideration of $1,014.50 per $1,000 principal amount of notes validly tendered, plus accrued and unpaid interest from the last interest payment date for the notes to, but not including, the purchase date therefor.

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