ࡱ>      l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1 Courier New1 Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)-**_($* #,##0_);_($* (#,##0);_($* "-"_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* "-"_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* "-"??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* "-"??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)6 0%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0)                + ) , *   Ј ~~ ؈ ~~#؈ ~~ ؈ ~~8#܈ ~~9#܈ ~~4#܈ ~~3#܈ ~~83ffff̙̙3f3fff3f3f33333f33CAI International Inc oNone (INDEX">CONSOLIDATED BALANCE SHEETS&iCONSOLIDATED STATEMENTS OF INCO&CONSOLIDATED STATEMENTS OF COMP&CONSOLIDATED STATEMENTS OF CASH&NOTES TO UNAUDITED CONSOLIDATED&NOTES TO UNAUDITED CONSOLID (1)&nNOTES TO UNAUDITED CONSOLID (2)&4NOTES TO UNAUDITED CONSOLID (3)& NOTES TO UNAUDITED CONSOLID (4)&NOTES TO UNAUDITED CONSOLID (5)&k,NOTES TO UNAUDITED CONSOLID (6)&/=NOTES TO UNAUDITED CONSOLID (7)^ Stock OptionstStock Options (1)&LJRestricted Stock and Performanc&ISeries A Preferred Stock ATM Of&NOTES TO UNAUDITED CONSOLID (8)&NOTES TO UNAUDITED CONSOLID (9)& NOTES TO UNAUDITED CONSOLI (10)&iNOTES TO UNAUDITED CONSOLI (11)&lNOTES TO UNAUDITED CONSOLI (12)]Overview( Overview (1)&;Three Months Ended June 30 2018KContainer lease revenueYRail lease revenue&ggLogistics revenue and gross mar&9wDepreciation of rental equipmen&Storage handling and other expe&fGain loss on sale of used rentaAdministrative expensesOther expensesOIncome tax expense Preferred stock dividends&Six Months Ended June 30 2018 C"Container lease revenue (1)}Rail lease revenue (1)&9Logistics revenue and gross (1)& Depreciation of rental equi (1)&.Storage handling and other (1)&2?Gain on sale of used rental equ"NAdministrative expenses (1)L_Other expenses (1)nIncome tax expense (1)$|Preferred stock dividends (1)&qLiquidity and Capital Resources Cash Flows&yContractual Obligations and Com^ SIGNATURES&SECTION 302 OF THE SARBANESOXLE&SECTION 302 OF THE SARBANES (1)&SECTION 906 OF THE SARBANESOXLE&SECTION 906 OF THE SARBANES (1) l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7NoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } @} $ } +      CAI International, Inc. 10-Q 08/03/2018CAI International, Inc. Delaware 94-3109229= 5 (State or other jurisdiction of incorporation , $(I.R.S. Employer Identification No.) or organization)     8 0 Steuart Tower, 1 Market Plaza, Suite 900  - % San Francisco, California ~ f80 (Address of principal executive offices) (Zip Code)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,||pd&uQTH<=PF0*8X> @ l  Q(  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } %} $} } $      CAI International, Inc. 10-Q 08/03/2018 None' Large accelerated filer ?Accelerated filer ?%  Non-accelerated filer ?! Smaller reporting company ?= 5 (Do not check if a smaller reporting company) Emerging growth company ?  $ ____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/$,w<0$=PF0*8X> @"   l  -:>  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } } :} y -     CAI International, Inc. 10-Q 08/03/2018 INDEX ?   Page No.0 ( ? Part I - Financial Information~   Item 1.(  Financial Statements (Unaudited)~  3 +Consolidated Balance Sheets at June 30 ,~  " 2018 and December 31, 2017 ?-%Consolidated Statements of Income for~ 4,the three and six months ended June 30, 2018and 20170(Consolidated Statements of Comprehensive~ 1)Income for the three and six months endedJune 30, 2018 and 2017-%Consolidated Statements of Cash Flows~ 2*for the six months ended June 30, 2018 and~ 1)Notes to Unaudited Consolidated Financial~ " Statements Item 2.,$Management?s Discussion and Analysis~ R80of Financial Condition and Results of Operations Item 3.0(Quantitative and Qualitative Disclosures~ ~About Market Risk Item 4.Controls and Procedures~ ~-% ? Part II - Other Information~  Item 1.Legal Proceedings~ D lvI5kKCvxO !"#$%&'()*+,  Item 1A.  Risk Factors~ ! Item 2./!'Unregistered Sales of Equity Securities~ !""and Use of Proceeds# Item 3.'#Defaults Upon Senior Securities~ #$ Item 4.$Mine Safety Disclosures~ $% Item 5.%Other Information~ %& Item 6.&Exhibits~ &' ? Signatures~ '()$*____________________________1+)Created by Morningstar Document Research.0,(http://documentresearch.morningstar.com/b7Q=PF0*8X> @2,,++**''  l  Q*Sah  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEX!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } $M} $ }  } $ }  Q     CAI International, Inc. 10-Q 08/03/2018#CONSOLIDATED BALANCE SHEETS ?  ?        ?  June 30,   December 31,  ? ~  ~   Assets        Current assets       Cash~ :~ >7/ Cash held by variable interest entities~ r|~ 6C91 Accounts receivable, net of allowance+#for doubtful accounts of $2,110 and80 $1,440 at June 30, 2018 and December 31,~ :~ +2017, respectively;3 Current portion of net investment in direct~ &K~ finance leases91 Prepaid expenses and other current assets~ '~ B( Total current assets~  ~ Fm Restricted cash~ *I~ 6A9 Rental equipment, net of accumulated depreciationof $550,426 and:2 $505,546 at June 30, 2018 and December 31,~ c~ _z2017, respectively7/ Net investment in direct finance leases~ ~   Goodwill~ ~ 5- Intangible assets, net of accumulatedDN lxl`M8e) feiN !"#$%&'()*+,-./0123456789:;<=>?" amortization of $4,495 and8!0 $3,407 at June 30, 2018 and December 31,!!~ !g!!~ !x"2017, respectively6#. Furniture, fixtures and equipment, net######-$%of accumulated depreciation of $3,265 %and8&0 $3,201 at June 30, 2018 and December 31,&&~ &B&&~ &J'2017, respectively(( Other non-current assets((~ (>((~ (/ ) Total assets (1))~ )* )~ )3* ?******4+, Liabilities and Stockholders' Equity++++++', Current liabilities,,,,,, - Accounts payable-~ - f-~ -^z>.6 Accrued expenses and other current liabilities..~ . ..~ .j./& Due to container investors//~ ///~ / 0 Unearned revenue00~ 0u00~ 0z'1 Current portion of debt11~ 1 11~ 1F(2 Rental equipment payable22~ 2 ? 22~ 2)3! Total current liabilities33~ 3>33~ 34 Debt44~ 4f44~ 4V_-5% Deferred income tax liability55~ 5C55~ 560%6 Total liabilities (2)66~ 666~ 6nq7 ?777777$8 Stockholders' equity888888<94 Preferred stock, par value $.0001 per share;9999990:(authorized 10,000,000 and 5,000,000 atF;> June 30, 2018 and December 31, 2017, respectively;;;;;;;-<%8.50% Series A fixed-to-floating rate==5 cumulative redeemable perpetual preferred======/>'stock, issued and outstanding 2,199,610?and 0 sharesDlR4rTTHap ME@ABCDEFGHIJKLMNOPH@@ at June 30, 2018 and December 31, 2017 , respectively,@@~ @:[@@~ @!Aat liquidation preference9B1 Common stock: par value $.0001 per share;BBBBBB,C$authorized 84,000,000 shares; issuedDand outstanding:E2 19,306,377 and 20,390,622 shares at JuneEE~ E EE~ E 7F/30, 2018 and December 31, 2017 , respectively.G& Additional paid-in capitalGG~ GGG~ G 4H, Accumulated other comprehensive lossHH~ HHH~ HZ%I Retained earningsII~ I{II~ I"E*J" Total stockholders' equityJJ~ J2`&JJ~ Jj":K2 Total liabilities and stockholders' equityK~ K* K~ K3LM$N____________________________1O)Created by Morningstar Document Research.0P(http://documentresearch.morningstar.com/&@hCs07K?3 =PF0*8X> @zPPOONNKKKK----))))     l  5|  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } F} $ }  } $ }  } $ }  } $ } 5                                 CAI International, Inc. 10-Q 08/03/2018)!CONSOLIDATED STATEMENTS OF INCOME ?     ?             ?# Three Months Ended June 30, ! Six Months Ended June 30,  ?~  ~  ~  ~   Revenue           '  Container lease revenue~ + ~ Z ~  ~ *" Rail lease revenue~ ~~ ~~   ~  ! Logistics revenue~ v~ V2~    ~  r Total revenue~ s~  ~ E   ~    ?   " Operating expenses   0( Depreciation of rental equipment~ j~ ~ &  ~  [4, Storage, handling and other expenses~ (~ `~ h  ~  f.& Logistics transportation costs~ *|~ ~ Ο  ~  f5- Gain on sale of used rental equipment~ ~ ~ :  ~  R' Administrative expenses~ ~ F~ m  ~  >?( Total operating expenses~ ~ ~   ~  j ?     Operating income~ o~ ~ .  ~  ~ ?    Other expenses   $ Net interest expense~ " ~ ~ .(  ~  Vv& Other expense (income)~ ~ B~ *  ~  *$ Total other expenses~ &~ 6~ V.  ~  ~yDl~rfZ(J$r{M[y ! " # $ % & ' ( ) * + , - . / 0 1 2 3 4   ?           *!" Income before income taxes!~ !H!!~ !!!~ !_! ! ~ ! ","$ Income tax expense (benefit)"~ " ""~ "V""~ "" " ~ " * # ?######### # # $ Net income$~ $&=$$~ $z$$~ $H$ $ ~ $ )%! Preferred stock dividends%~ %%%~ %%%~ %F% % ~ % B&: Net income attributable to CAI common stockholders~ &6+&~ &z&~ &6& ~ & ' ?''''''''' ' ' 8(0 Net income per share attributable to CAI((((((((( ( ( )common stockholders* Basic*\(\?**Q?**(\?* * Gz?+ Diluted+ ףp= ?++?++p= ף?+ + (\?, ?,,,,,,,,, , , 3-+ Weighted average shares outstanding--------- - - . Basic.~ .v2..~ .*..~ .8. . ~ . )/ Diluted/~ /6//~ /n///~ /</ / ~ / .01$2____________________________13)Created by Morningstar Document Research.04(http://documentresearch.morningstar.com/." gXSR2w+=PF0*8X> @44 33 22 ++++++++ ******** &&&&&&&&         l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } >} $ }  } $ } U} $ } } $ }                           CAI International, Inc. 10-Q 08/03/20187/CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME ?      ?              ? # Three Months Ended June 30, ! Six Months Ended June 30,  ? ~  ~  ~  ~   ?              Net income ~ &= ~ z ~ H ~ 7/ Other comprehensive income, net of tax:    <4 Foreign currency translation adjustments~ r~ f ~  J  ~  R91 Comprehensive income before preferred~ 4~ ~  6E  ~  *(stock dividends,$ Dividends on preferred stock~ ~ ~    ~  5- Comprehensive income available to CAI~ "~ ~ 2 ~  *(common stockholders$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6 pdXL g>iN=PF0*8X> @             l  J|  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } 0G} $ }  } $ }  J     CAI International, Inc. 10-Q 08/03/2018-%CONSOLIDATED STATEMENTS OF CASH FLOWS ?  ?        ? ! Six Months Ended June 30,  ? ~  ~ 4 , Cash flows from operating activities        Net income ~ H ~ 6. Adjustments to reconcile net income to2*net cash provided by operating activities:  Depreciation~ >~ ^3+ Amortization of debt issuance costs~ !~ j1) Amortization of intangible assets~ ~ :0( Stock-based compensation expense~ ~ 5- Reduction in contingent consideration~ ~ &7/ Unrealized loss on foreign exchange~ *~ 5- Gain on sale of used rental equipment~ :~ R% Deferred income taxes~ ~ n+# Bad debt expense (recovery)~ ~ B: Changes in other operating assets and liabilities:' Accounts receivable~ !~ 1) Prepaid expenses and other assets~ B~ 6. Accounts payable, accrued expenses and~ ~ !other current liabilities*" Due to container investors~ ~ "  Unearned revenue~ ~ D lznbVV ;   !"#$%&'()*+,-./0123456789:;<=>?9 1 Net cash provided by operating activities  ~ 2  ~ 8!0 Cash flows from investing activities!!!!!!,"$ Purchase of rental equipment""~ "f""~ "&;#3 Proceeds from sale of used rental equipment##~ #ʍ##~ #2-A$9 Purchase of furniture, fixtures and equipment$$~ $$$~ $=%5 Receipt of principal payments from direct%%~ %)%%~ %&finance leases5'- Net cash used in investing activities''~ '''~ 'R4(, Cash flows from financing activities((((((") Proceeds from debt))~ );+))~ )w **" Principal payments on debt**~ *e**~ *y#+ Debt issuance costs++~ +++~ +>,6 Proceeds from issuance of common and preferred,,~ ,u,,~ , -stock*." Repurchase of common stock..~ .ZK..~ .)/! Exercise of stock options//~ /b//~ /800 Net cash provided by (used in) financing00~ 0b 00~ 01 activities>26 Effect on cash of foreign currency translation22~ 222~ 2C3; Net increase (decrease) in cash and restricted33~ 3.33~ 3 4cash850 Cash and restricted cash at beginning of55~ 555~ 516the period (1)=75 Cash and restricted cash at end of the period7~ 77~ 7*~ 89 ?999999@:8 Supplemental disclosure of cash flow information::::::4;, Cash paid during the period for:;;;;;;< Income taxes<~ <<~ <= Interest==~ ===~ =R=>5 Supplemental disclosure of non-cash investing>>>>>>?and financing activityDlww[/=P76 gMma @ABCDEFGHI6@. Transfer of rental equipment to direct@~ @a@~ @uA finance lease:B2 Transfer of direct finance lease to rentalBB~ BBB~ BC equipment(D Rental equipment payableDD~ D ? DD~ DEF$G____________________________1H)Created by Morningstar Document Research.0I(http://documentresearch.morningstar.com/ybVJ"=PF0*8X> @rIIHHGG@@@@<<<<7777      l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } D} $ }  } $ }       CAI International, Inc. 10-Q 08/03/2018H@NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) ?  ?  June 30,   December 31,  ? ~  ~   Dry containers ~ ri ~ ]'  Refrigerated containers  ~    ~ B+ # Other specialized equipment  ~ _   ~ F  Railcars~ ^~  ?~ ~ :( Accumulated depreciation~ g~ $A9 Rental equipment, net of accumulated depreciation~ c~ _z$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2;_SG; @Z        l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } 8} $ } y} $ } y      CAI International, Inc. 10-Q 08/03/2018H@NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) ?  ?        ?  June 30,   December 31,  ? ~  ~ 3 + Gross finance lease receivables (1) ~  ~ &-#  Unearned income (2)  ~ 2=  ~ b7/ Net investment in direct finance leases~  ~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|_SG;(tzR=PF0*8X> @Z        l  i  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } } $ }  } $ }       CAI International, Inc. 10-Q 08/03/2018H@NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) ?  ?        ?  June 30,   December 31,  ? ~  ~   Tier 1 ~ K ~ `  Tier 2  ~   ~  Tier 3~ ~  ?~ ~ &-$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/._SG;(+|pd<=PF0*8X> @Z        l     dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } !} $ }       CAI International, Inc. 10-Q 08/03/2018H@NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) ?~     ~ ~      ~ ~      ~ J?~      ~ ~      ~ z# 2024 and thereafter~ j  ?~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/._SG;:2nbV.=PF0*8X> @*  l     dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } <(}       CAI International, Inc. 10-Q 08/03/2018H@NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) ?) ! Trademarks and tradenames 2 - 3 years&  Customer relationships 5 - 8 years  $ ____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/$Z,_SG;wO=PF0*8X> @  l  b+  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } <(} $ }  } $ }  } $ }                          CAI International, Inc. 10-Q 08/03/2018H@NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) ?      ?              ?     Gross Carrying Amount  Accumulated Amortization  Net Carrying Amount  June 30, 2018            ) ! Trademarks and tradenames    ~  ~  ~ ~&  Customer relationships     ~   ~ 2  ~ 2f ?~ ~ ƹ ~  g! December 31, 2017    )! Trademarks and tradenames~ ~  ~  & Customer relationships~ ~    ~  r ?~ ~  ~  x$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4 _SG;0 E=PF0*8X> @             l  <  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } !}  $ }                       CAI International, Inc. 10-Q 08/03/2018H@NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) ?    ~           ~ ~            ~ &~            ~ &~            ~ ~            ~ j# 2024 and thereafter   ~   ?  ~  g$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/._SG;b"."=PF0*8X> @*    l  "=]^  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } U5} $ }  } $ }  } $ } y }  $ } } $ }  } $ } y } $ }  "     CAI International, Inc. 10-Q 08/03/2018H@NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) ?       ?                   ?  June 30, 2018  December 31, 2017    ?  Outstanding  Average   Outstanding  Average    ? Current   Long-term  Interest  Current   Long-term  Interest  Maturity  ?                   Revolving credit~ U~ B 3.8%  $- ~  :  3.2% June 20230( Revolving credit facility - Rail~ ~  3.6% ~    ~   3.2% October 20200( Revolving credit facility - Euro~ ~ n6 2.0% ~    ~  B 2.0%September 2020 Term loan~ "~  4.4% ~  2V  ~   3.4% April 2023 Term loan~ ~ ʋ 3.7% ~    ~   3.1% October 2019 Term loan~ bm~ b 3.8% ~  bm  ~    3.3% June 2021 Term loan~ ~  3.4% ~    ~  2 3.4% December 2020 Term loan~ ,~  3.6% ~  +  ~   3.6% August 2021$ Senior secured notes~ z_~ Zh 4.9% ~  z_  ~   4.9%September 2022" Asset-backed notes~ ~ ~' 3.8% ~  n  ~   3.5% June 20424, Collateralized financing obligations~ ~ & 1.2% ~  V`  ~  = 1.2% March 2021*" Term loans held by VIE~ ~ z 3.0% ~    ~  Z3 2.7% June 2019 ?~ > ~  @!!          l  +s  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7)Stock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } 0} $ }  } $ } y} $                             CAI International, Inc. 10-Q 08/03/2018 Stock Options ?      ?              ?  ! Six Months Ended June 30,  ? ~  ~   ?     Weighted     Weighted  ?     Average     Average ? Number ofExercise Number of  Exercise ?Shares PriceShares   Price0( Options outstanding at January 1~ v4q= ףp0@~  ~,W  (\O0@ Options granted~  $-~    0@! 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Six Months Ended June 30,  ?     ~  ~   Stock price        $-  0@  Exercise price        $-  0@ ?    % Expected term (years)~     5.50 - 6.25' Expected volatility (%)~      56.40 - 57.50+# Risk-free interest rate (%)~      1.77 - 2.14" Dividend yield (%)~    ~  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4< zn$M gMA5 =PF0*8X> @R        l  z  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } 0} $ } } $                         CAI International, Inc. 10-Q 08/03/2018.&Restricted Stock and Performance Stock ?      ?              ?          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Shares   Fair Value0( Outstanding at December 31, 2017~  :  ףp= -@ Granted~  h   {Gz6@ Vested~  D  Q/@,$ Outstanding at June 30, 2018~  x   {Gz4@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2 ymaU vB>=PF0*8X> @Z        l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } :} $ }  } $ }  } $ } } $ }                          CAI International, Inc. 10-Q 08/03/20185-Series A Preferred Stock ATM Offering Program ?      ? (  Three Months Ended June 30, 2018  ?  Container Leasing   Rail Leasing   Logistics  Total  Total revenue ~ + ~ ~ ~ v ~ s(  Total operating expenses  ~   ~ *^  ~   ~ '  Operating income (loss)  ~ F  ~ V0  ~ Z  ~ o80 Net interest and other expenses (income)~ ~ <~    ~  &5- Income (loss) before income taxes~ 6[~ >~ z ~  H Goodwill $- $-~  ~   Total assets~ ~ i~  ~  * 0( Purchase of rental equipment (1)~  ~ ֢ $- ~  z $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4 rfZN\3o7+wO=PF0*8X> @                  l  p  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } 1} $ }  } $ }  } $ } } $ }                          CAI International, Inc. 10-Q 08/03/2018H@NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) ?      ? (  Three Months Ended June 30, 2017  ?  Container Leasing   Rail Leasing   Logistics  Total  Total revenue ~ Z ~ ~ ~ V2 ~  (  Total operating expenses  ~   ~ S  ~ n=  ~ '  Operating income (loss)  ~ c  ~ +  ~   ~ /' Net interest and other expenses~ Β~ j+~    ~  61) Income (loss) before income taxes~ N~ ~  ~   Goodwill $- $-~  ~   Total assets~ f~ b~ Jo ~  Ӏ0( Purchase of rental equipment (1)~ ~ z> $- ~  v$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4 _SG;I \1%}qI=PF0*8X> @                  l     dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } I;} $ }  } $ }  } $ } } $ }                         CAI International, Inc. 10-Q 08/03/2018H@NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) ?      ? & Six Months Ended June 30, 2018  ?  Container Leasing   Rail Leasing   Logistics  Total  Total revenue ~  ~  ~   ~ E (  Total operating expenses  ~ z  ~   ~ *  ~ '  Operating income (loss)  ~ &N  ~ R  ~ ^  ~ .91 Net i nterest and other expenses (income)~ ~ ~s~    ~  V.5- Income (loss) before income taxes~ "~ 2~  ~  _0( Purchase of rental equipment (1)~  ~  $- ~  f$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0_SG;K"^%}qI=PF0*8X> @              l  T  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } 1} $ }  } $ }  } $ } } $ }                         CAI International, Inc. 10-Q 08/03/2018H@NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) ?      ? & Six Months Ended June 30, 2017  ?  Container Leasing   Rail Leasing   Logistics  Total  Total revenue ~ * ~  ~ r ~  (  Total operating expenses  ~ :>  ~ "  ~ Ƈ  ~ j'  Operating income (loss)  ~ W  ~ X  ~   ~ ~/' Net interest and other expenses~ %~ S~    ~  ~y1) Income (loss) before income taxes~ 2~ ~  ~  "0( Purchase of rental equipment (1)~ ~ r $- ~  F$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0_SG;K"^3W=PF0*8X> @              l  g  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } !} $ }  } $ }  } $ } } $ }                            CAI International, Inc. 10-Q 08/03/2018H@NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) ?      ?          ? # Three Months Ended June 30, ! Six Months Ended June 30,  ? ~  ~  ~  ~   United States ~ nd ~  ~ ^a ~   Switzerland  ~ 6  ~ 6d  ~ \  ~  France~ ~ ~  r  ~  Z Korea~ vj~ FF~    ~  & Singapore~ T~ RN~  ʧ  ~   Other Asia~ J~ ~    ~   Other Europe~ ~ 2~    ~  I# Other International~ %~ J~  ~M  ~  S Total revenue~ s~  ~ E  ~   $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8 _SG;!+9e=PF0*8X> @             l  .  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } F} $ }  } $ }  } $ } } $ }                                 CAI International, Inc. 10-Q 08/03/2018H@NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) ?      ?              ? # Three Months Ended June 30, ! Six Months Ended June 30,  ? ~  ~  ~  ~   Numerator            B : Net income attributable to CAI common stockholders ~ 6+ ~ z ~ 6 ~   Denominator    91 Weighted-average shares used in per share~ v2~ *~  8  ~  )computation - basic.& Effect of dilutive securities:    2* Stock options and restricted stock~ ~ ~    ~  91 Weighted-average shares used in per share~ 6~ n/~  <  ~  .computation - diluted ?    80 Net income per share attributable to CAI    common stockholders: Basic\(\?Q?(\?  Gz? Diluted ףp= ??p= ף?  (\?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/BXX_SG;xN6hrP}=PF0*8X> @               l  '  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } a/} $ } y} $ }                             CAI International, Inc. 10-Q 08/03/2018Overview ?      ?              ?        As of June 30,  ?       ~  ~ - % Owned container fleet in TEUs        ~ N  ~ :/ ' Managed container fleet in TEUs        ~ ½  ~  -% Total container fleet in TEUs~  S  ~  C ?    -% Owned container fleet in CEUs~  *R  ~  @/' Managed container fleet in CEUs~  Q  ~  4-% Total container fleet in CEUs~  fV  ~  ;H ?    ,$ Owned railcar fleet in units~  t  ~  f$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8L s)PZ)eYM%=PF0*8X> @2     l  ?:  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } I;} $ } } $ } } $ } } $ }                           CAI International, Inc. 10-Q 08/03/2018Overview ?      ?              ?          ? # Three Months Ended June 30, ! Six Months Ended June 30,  ? ~  ~  ~  ~ 6 . Average container fleet utilization in   99.3%   97.1%   99.3%   96.3% CEUs91 Average owned container fleet utilization 99.3% 97.2%  99.3%    96.5%in CEUs1) Average railcar fleet utilization 87.2% 91.0%  87.6%    91.8% ?    $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4+ s);^RF=PF0*8X> @J         l   K  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } F} $ }  } $ }  } $ } } $ } $} $                      CAI International, Inc. 10-Q 08/03/2018UMThree Months Ended June 30, 2018 Compared to Three Months Ended June 30, 2017 ?      ? # Three Months Ended June 30,  Increase  ? ~  ~   Amount  Percent  Total revenue ~ s ~   ~ g ~ r %"  Operating expenses  ~   ~   ~ z ~ : %$  Total other expenses  ~ &  ~ 6  ~ h ~  %B: Net income attributable to CAI common stockholders~ 6+~ z~  e ~    %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|RF:.!Ff=PF0*8X> @b            l  X  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Rail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } %}  $ } $} $                   CAI International, Inc. 10-Q 08/03/2018Container lease revenue ?      ? # Three Months Ended June 30,  Increase  ($ in thousand) ~  ~   Amount  Percent'  Container lease revenue ~ + ~ Z ~  ~ b %  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/&@|pdW# =PF0*8X> @b            l  f  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } }  $ } $} $                   CAI International, Inc. 10-Q 08/03/2018Rail lease revenue ?      ? # Three Months Ended June 30,  Increase  ($ in thousand) ~  ~   Amount  Percent"  Rail lease revenue ~ ~ ~ ~ ~  ~ 2 %  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/&@ui\-!=PF0*8X> @b            l  Rv  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } 0.} $ }  } $ }  } $ } } $ } $} $                     CAI International, Inc. 10-Q 08/03/2018*"Logistics revenue and gross margin ?      ? # Three Months Ended June 30,  Increase  ($ in thousand) ~  ~   Amount  Percent!  Logistics revenue ~ v ~ V2 ~ " ~  %. & Logistics transportation costs  ~ *|  ~   ~ w ~  %&  Logistics gross margin ~ N= ~ - ~  ~  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*qh}qeYLSt=PF0*8X> @z              l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } } $ }  } $ }  } $ } U} $ } } $                     CAI International, Inc. 10-Q 08/03/2018( Depreciation of rental equipment ?      ? # Three Months Ended June 30,  Increase  ($ in thousand) ~  ~   Amount  Percent!  Container leasing ~ ޗ ~ { ~  ~ " %  Rail leasing  ~ 3  ~ +  ~  ~ J %  ? ~ j ~  ~ $ ~ & %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*Hhsg[N g=PF0*8X> @z              l  }  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } } $ }  } $ }  } $ } U} $ } } $                      CAI International, Inc. 10-Q 08/03/2018,$Storage, handling and other expenses ?      ? # Three Months Ended June 30,  Increase/(Decrease)  ($ in thousand) ~  ~   Amount  Percent!  Container leasing ~  ~ J ~ f ~  %  Rail leasing  ~   ~ f  ~ N ~ > %  Logistics  ~   ~ B  ~ f ~ 2 % ?~ (~ `~  ~    %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,!|{ocW?X =PF0*8X> @z            l  4  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expeAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } } $ } $} $ }  } $ } U} $ } $} $                     CAI International, Inc. 10-Q 08/03/20184,Gain (loss) on sale of used rental equipment ?      ? # Three Months Ended June 30,  Increase  ($ in thousand) ~  ~   Amount  Percent!  Container leasing ~ ) ~  ~ ~  ~  %  Rail leasing  ~   ~ :  ~  ~ Z %  ? ~ ~* ~ V ~ * ~  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*Thsg[OB[=PF0*8X> @z              l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } } $ }  } $ }  } $ } $} $ } $} $                      CAI International, Inc. 10-Q 08/03/2018Administrative expenses ?      ? # Three Months Ended June 30,  Increase  ($ in thousand) ~  ~   Amount  Percent!  Container leasing ~ g ~ RQ ~  ~ r %  Rail leasing  ~   ~   ~  ~  %  Logistics  ~ ND  ~ 5  ~ r ~ n % ?~ ~ F~ % ~  f  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/, ||pdW)p0$=PF0*8X> @z            l  h  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } $} $ } U} $ }  } $ } U} $ } $} $                     CAI International, Inc. 10-Q 08/03/2018Other expenses ?      ? # Three Months Ended June 30,  Increase/(Decrease)  ($ in thousand) ~  ~   Amount  Percent$  Net interest expense ~ "  ~  ~ .` ~  %&  Other expense (income)  ~   ~ B  ~ v ~  %  ? ~ & ~ 6 ~ h ~  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*NhymU$a=PF0*8X> @z              l  P  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesPreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } +}  $ } } $                   CAI International, Inc. 10-Q 08/03/2018Income tax expense ?      ? # Three Months Ended June 30,  Increase  ($ in thousand) ~  ~   Amount  Percent, $ Income tax expense (benefit) ~   ~ V ~ r  ~  %  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/&@ui\# =PF0*8X> @b            l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expense!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } <(}  $ } U} $                   CAI International, Inc. 10-Q 08/03/2018!Preferred stock dividends ?      ? # Three Months Ended June 30,  Increase  ($ in thousand) ~  ~   Amount  Percent) ! Preferred stock dividends ~   $- ~  ~  %  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/&@znbU=PF0*8X> @b            l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividendsContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } F} $ }  } $ }  } $ } } $ } $} $                      CAI International, Inc. 10-Q 08/03/2018QISix Months Ended June 30, 2018 Compared to Six Months Ended June 30, 2017 ?      ? ! Six Months Ended June 30,  Increase  ? ~  ~   Amount  Percent  Total revenue ~ E  ~   ~ F@ ~ Z %"  Operating expenses  ~   ~ j  ~ M ~  %$  Total other expenses  ~ V.  ~ ~y  ~ ڴ ~  %B: Net income attributable to CAI common stockholders~ 6~ ~   ~    %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|VJ>2' Ll=PF0*8X> @b            l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CRail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } %}  $ } $} $                   CAI International, Inc. 10-Q 08/03/2018Container lease revenue ?      ? ! Six Months Ended June 30,  Increase  ($ in thousand) ~  ~   Amount  Percent'  Container lease revenue ~  ~ * ~ v ~ ^ %  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/&@|pdY% =PF0*8X> @b            l  n  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } }  $ } $} $                   CAI International, Inc. 10-Q 08/03/2018Rail lease revenue ?      ? ! Six Months Ended June 30,  Increase  ($ in thousand) ~  ~   Amount  Percent"  Rail lease revenue ~  ~  ~  ~ 6 %  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/&@ui^/#=PF0*8X> @b            l  "  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } 0.} $ }  } $ }  } $ } } $ } $} $                     CAI International, Inc. 10-Q 08/03/2018*"Logistics revenue and gross margin ?      ? ! Six Months Ended June 30,  Increase  ($ in thousand) ~  ~   Amount  Percent!  Logistics revenue ~   ~ r ~  ~ b %. & Logistics transportation costs  ~ Ο  ~ f  ~ j ~ n %&  Logistics gross margin ~ k ~ >c ~ ~ ~ & %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*oh}qeYN Uv=PF0*8X> @z              l  -  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } } $ }  } $ }  } $ } } $ } } $                     CAI International, Inc. 10-Q 08/03/2018( Depreciation of rental equipment ?      ? ! Six Months Ended June 30,  Increase  ($ in thousand) ~  ~   Amount  Percent!  Container leasing ~ F! ~  ~  ~  %  Rail leasing  ~ l  ~ V  ~  ~ j %  ? ~ & ~ [ ~ ^2 ~  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*Fhsg[P"i=PF0*8X> @z              l  I>  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } } $ }  } $ }  } $ } U} $ } } $                      CAI International, Inc. 10-Q 08/03/2018,$Storage, handling and other expenses ?      ? ! Six Months Ended June 30,  Increase/(Decrease)  ($ in thousand) ~  ~   Amount  Percent!  Container leasing ~ 3 ~  ~  ~  %  Rail leasing  ~ b5  ~ (  ~   ~ ~ %  Logistics  ~   ~   ~ > ~ r % ?~ h~ f~  ~  >  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|{ocWAZ=PF0*8X> @z            l  M  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)Administrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } } $ } $} $ } } $ } $} $ } U} $                     CAI International, Inc. 10-Q 08/03/2018-%Gain on sale of used rental equipment ?      ? ! Six Months Ended June 30,  Increase  ($ in thousand) ~  ~   Amount  Percent!  Container leasing ~ L ~   ~ > ~ > %  Rail leasing  ~ F  ~   ~ . ~  %  ? ~ L ~   ~ ? ~ 6 %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*KhznbVKd=PF0*8X> @z              l  c^  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equOther expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } } $ }  } $ }  } $ } U} $ } $} $                      CAI International, Inc. 10-Q 08/03/2018Administrative expenses ?      ? ! Six Months Ended June 30,  Increase  ($ in thousand) ~  ~   Amount  Percent!  Container leasing ~ : ~ * ~  ~ J %  Rail leasing  ~ (  ~ r%  ~  ~  %  Logistics  ~ Z~  ~ q  ~   ~ . % ?~ m~ >?~ j. ~  >  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,||pdY+r2&=PF0*8X> @z            l   n  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } I"} $ } U} $ } U} $ } U} $ } $} $                     CAI International, Inc. 10-Q 08/03/2018Other expenses ?      ? ! Six Months Ended June 30,  Increase  ($ in thousand) ~  ~   Amount  Percent$  Net interest expense ~ .( ~ Vv ~ ڱ ~  %  Other expense  ~ *  ~ *  ~  ~ ~ %  ? ~ V. ~ ~y ~ ڴ ~  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*8hymb1w=PF0*8X> @z              l  {  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } }  $ } U} $                   CAI International, Inc. 10-Q 08/03/2018Income tax expense ?      ? ! Six Months Ended June 30,  Increase  ($ in thousand) ~  ~   Amount  Percent"  Income tax expense ~  ~ *  ~   ~  %  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/&@ui^/#=PF0*8X> @b            l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } <(}  $ } U} $                   CAI International, Inc. 10-Q 08/03/2018!Preferred stock dividends ?      ? ! Six Months Ended June 30,  Increase  ($ in thousand) ~  ~   Amount  Percent) ! Preferred stock dividends ~ F  $- ~ F ~  %  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/&@znbW! =PF0*8X> @b            l  #  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1) Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } U5} $ }  } $ }       CAI International, Inc. 10-Q 08/03/2018'Liquidity and Capital Resources ?  ?  Current  Current  ?  Amount  Maximum  ?   Outstanding  Borrowing Level+ # Revolving credit facilities ~ >' ~ ~pc  Term loans  ~ F  ~ F$ Senior secured notes~ ~ " Asset-backed notes~ -~ -4, Collateralized financing obligations~ ~ *" Term loans held by VIE~ %~ % ?~ >q~ Vݬ# Debt issuance costs~ ~  Total~ ?p~ Vݬ$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8th\Z.HJv)=PF0*8X> @j          l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } 6 Effect on cash of foreign currency translation~ ~  ?>6 Net increase (decrease) in cash and restricted~ .~  cash80 Cash and restricted cash at beginning of~ ~ 1period91 Cash and restricted cash at end of period~ ~ *$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/B[ X}qXyhRc=+z=PF0*8X> @R       l     dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } mB} $ }  } $ }  } $ }  } $ } } $ }  } $ }  } $ }       CAI International, Inc. 10-Q 08/03/2018:2Contractual Obligations and Commercial Commitments ?       ?                      ? Payments Due by Period  ?     Less than  1-2  2-3  3-4  4-5   More than  ? Total  1 year  years  years  years  years  5 years'  Total debt obligations:                    +# Revolving credit facilities~ >'~ U $- ~     $-~ B $- Term loans~ F~ U~ FW  ~    ~ O~ Bd~ $ Senior secured notes~ ~ z_~ z_  ~  z_  ~ z_~ I~ " Asset-backed notes~ -~ ~   ~    ~ ~ ~ 4, Collateralized financing obligations~ ~ ޻~   ~    ~ Bm~ ~ +# Term loans held by VIE~ %~ ~ z  ~    ~ ~ ~ >6 Interest on debt and capital lease obligations~ ~ R~ bz  ~    ~ v~ 2~ .d~ ( Rental equipment payable~  ? ~  ? ~   ~    ~ ~ ~ 5- Rent, office facilities and equipment~ fF~  %~   ~    ~ Z~ >~ 2?7 Equipment purchase commitments - Containers~  ~  ~   ~    ~ ~ ~ 91 Equipment purchase commitments - Rail~ f~ f~   ~    ~ ~ ~ 1) Total contractual obligations~ 6U~ (~ l ~  ?$ ~  " ~ ~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/DlmaUID?-V;bF YK!nwO=PF0*8X> @                 l  4  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } $} U5      CAI International, Inc. 10-Q 08/03/2018 SIGNATURES ?  CAI International, Inc.   (Registrant)    August 3, 2018 /s/ VICTOR M. GARCIA  Victor M. Garcia-%President and Chief Executive Officer%(Principal Executive Officer) August 3, 2018/s/ TIMOTHY B. PAGETimothy B. PageChief Financial Officer4,(Principal Financial and Accounting Officer)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:}qP!{> Z=PF0*8X> @ l  i  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } '} } -} $      CAI International, Inc. 10-Q 08/03/20185-SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 ?(  Date: August 3 , 2018         By: /s/ VICTOR M. GARCIA    Victor M. Garcia   - %President and Chief Executive Officer $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*hrfZNNa=PF0*8X> @ l  f  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANESOXLE!SECTION 906 OF THE SARBANES (1)U } '} } U} $      CAI International, Inc. 10-Q 08/03/20185-SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 ?(  Date: August 3 , 2018         By: /s/ TIMOTHY B. PAGE    Timothy B. Page    Chief Financial Officer $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*\hrfZNO=PF0*8X> @ l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANES (1)U } I"} } -} $      CAI International, Inc. 10-Q 08/03/20185-SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 ?$  Date: August 3, 2018         By: /s/ VICTOR M. GARCIA    Victor M. Garcia   - %President and Chief Executive Officer $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*hrfZNRe=PF0*8X> @ l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??7CAI International IncNoneINDEXCONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!NOTES TO UNAUDITED CONSOLIDATED!NOTES TO UNAUDITED CONSOLID (1)!NOTES TO UNAUDITED CONSOLID (2)!NOTES TO UNAUDITED CONSOLID (3)!NOTES TO UNAUDITED CONSOLID (4)!NOTES TO UNAUDITED CONSOLID (5)!NOTES TO UNAUDITED CONSOLID (6)!NOTES TO UNAUDITED CONSOLID (7) Stock OptionsStock Options (1)!Restricted Stock and Performanc!Series A Preferred Stock ATM Of!NOTES TO UNAUDITED CONSOLID (8)!NOTES TO UNAUDITED CONSOLID (9)!NOTES TO UNAUDITED CONSOLI (10)!NOTES TO UNAUDITED CONSOLI (11)!NOTES TO UNAUDITED CONSOLI (12) Overview Overview (1)!Three Months Ended June 30 2018Container lease revenueRail lease revenue!Logistics revenue and gross mar!Depreciation of rental equipmen!Storage handling and other expe!Gain loss on sale of used rentaAdministrative expensesOther expensesIncome tax expensePreferred stock dividends!Six Months Ended June 30 2018 CContainer lease revenue (1)Rail lease revenue (1)!Logistics revenue and gross (1)!Depreciation of rental equi (1)!Storage handling and other (1)!Gain on sale of used rental equAdministrative expenses (1)Other expenses (1)Income tax expense (1)Preferred stock dividends (1)!Liquidity and Capital Resources Cash Flows!Contractual Obligations and Com SIGNATURES!SECTION 302 OF THE SARBANESOXLE!SECTION 302 OF THE SARBANES (1)!SECTION 906 OF THE SARBANESOXLEU } I"} } U} $      CAI International, Inc. 10-Q 08/03/20185-SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 ?$  Date: August 3, 2018         By: /s/ TIMOTHY B. 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