Titan International issues new shares as part of Titan Europe deal

On 14 September, Titan International announced the proposed issue of up to 6,240,833 new Titan International common shares to Titan Europe shareholders in connection with Titan International’s offer for Titan Europe plc. Under Titan International’s offer, Titan Europe shareholders will receive one new share of Titan International common stock for every 11 Titan Europe shares held. Based on the closing exchange rate of £1=$1.6016 and the closing stock price of Titan International common stock of $20.03 on September 13, 2012, this offer values each Titan Europe share at approximately 113.36 pence and Titan Europe’s fully diluted share capital at approximately £104.8 million. The Titan International offer represents a premium of approximately 15.1 per cent to the closing price of 111.25 pence per Titan Europe share on September 13, 2012.

Titan International has filed the related Prospectus and Offer documents with the Securities and Exchange Commission; the documents are also available at the www.titan-intl.com website.