Exhibit 99 Tennant Company Reports First Quarter 2024 Results Delivers Net Sales and Strong Net Income Growth Expands Adjusted EBITDA Margin MINNEAPOLIS, MN (May 3, 2024)—Tennant Company ("Tennant" or the "Company") (NYSE: TNC) today reported its financial results for the quarter ended March 31, 2024. | (In millions, except per share data) | | | | Three Months Ended March 31, | | | --- | --- | --- | --- | --- | --- | | | | 2024 | | 2023 | Increase | | Net sales | $ | 311.0 | $ | 305.8 | 1.7 % | | Net income ...

February 22, 2024 SAFE HARBOR STATEMENT 2 Executive Summary Full year organic sales growth of ~14% ~9% price growth and 5% volume growth $140 million backlog reduction during 2023 | --- | --- | --- | |----------------------|---------------------------------------|----------------------------| | Net Sales | Fourth-Quarter Results \nAdj. EBITDA* | Adj. Diluted EPS* | | $311.4M | $41.5M | $1.92/share | | +5.4% Organic Growth | 13.3% Adj. EBITDA Margin | +31.5% higher than Q4 2022 | *Non-GAAP Measures: refer to ...

Financial Data and Key Metrics Changes - For the full year 2023, net sales reached $1.243 billion, with adjusted EBITDA rising to $192.9 million, resulting in an EBITDA margin of 15.5% [8][19][57] - GAAP net income for Q4 2023 was $31 million, a 30.3% increase year-over-year, while adjusted net income was $36.2 million, up from $27.2 million in the prior year [19][57] - Adjusted EPS for Q4 2023 increased 31.5% to $1.92 per diluted share compared to the prior year [19] Business Line Data and Key Metrics Changes - Equipment sales grew by 9.6% in Q4 2023, leading the growth in product categories [59] - For the full year, net sales in the Americas were $840.3 million, a 19% increase, driven by strong equipment sales in North America [45] - Adjusted gross margin for the full year 2023 increased to 42.5%, a 390 basis point improvement compared to 2022 [47] Market Data and Key Metrics Changes - Organic sales in the Americas increased 7.3% year-over-year, while organic sales in EMEA declined 0.6% due to volume declines [42] - Organic sales in APAC increased 9.6%, driven by price realization in Australia and volume increases in China [42] - The company ended 2023 with approximately $186 million of backlog, a reduction of $28 million from the end of Q3 [41] Company Strategy and Development Direction - The new enterprise strategy for 2024-2026 focuses on three pillars: growth, performance, and people [31] - The company plans to launch the X4 ROVR, a purpose-built Autonomous Mobile Robot, in Q2 2024 [32] - The investment in Brain Corp aims to enhance the development and adoption of next-generation robots in the floor cleaning industry [33][34] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2024, expecting net sales growth of 2% to 4% with price and volume contributing equally [66] - The company anticipates reducing backlog by $80 million to $100 million in 2024, while monitoring global order rates closely [51] - Management highlighted the importance of maintaining a strong balance sheet and disciplined capital allocation strategy [49][70] Other Important Information - The company achieved a record GAAP net income of $109.5 million for the full year 2023, a 65.2% increase from the prior year [57] - Adjusted EBITDA margin for 2023 was 15.5%, benefiting from operating leverage created by sales growth [62] - The company plans to invest approximately $75 million in ERP modernization through 2025 [16] Q&A Session Summary Question: What is the outlook for orders and seasonality? - Management noted that orders have remained resilient and expects a significant return to normal seasonality in 2024 [77] Question: Can you elaborate on the bundling strategy with Brain Corp? - The bundling strategy aims to offer a comprehensive solution that includes equipment and software, enhancing customer value [83][84] Question: How is the company addressing the equipment-as-a-service model? - Management is exploring the potential of the equipment-as-a-service model, particularly for smaller and medium-sized customers [112][126] Question: What are the expectations for gross margin improvement in 2024? - Management anticipates gross margin improvement in 2024, supported by strategic pricing and cost management initiatives [118] Question: What is the company's approach to capital allocation and M&A? - The company is focused on strategic M&A opportunities and has activated discussions with potential partners [120]

Company Operations - Tennant Company operates 11 global manufacturing locations across the Americas, EMEA, and APAC regions[16]. - The company has a diverse product portfolio including manual and mechanized cleaning equipment, sustainable cleaning technologies, and aftermarket parts[17]. - As of December 31, 2023, Tennant Company employed approximately 4,457 employees[25]. Financial Performance - Consolidated net sales in 2023 totaled $1,243.6 million, a 13.9% increase compared to $1,092.2 million in 2022[105]. - Gross profit margin improved to 42.4% in 2023 from 38.5% in 2022, reflecting a decrease in the cost of sales as a percentage of net sales[105]. - Operating income increased to $138.6 million in 2023, representing an operating margin of 11.1%, up from 8.0% in 2022[105]. - Net income for 2023 was $109.5 million, an increase of 65.0% compared to $66.3 million in 2022[105]. - Basic net income per share increased to $5.92 in 2023, up from $3.58 in 2022, demonstrating strong earnings growth[175]. - Comprehensive income for 2023 was $117.4 million, compared to $54.0 million in 2022, indicating overall financial health improvement[177]. - Total equity as of December 31, 2023, was $577.0 million, up from $470.8 million in 2022, reflecting an increase of 22.6%[183]. Research and Development - Research and development expenses are crucial for product innovation and enhancing existing product functionality[21]. - Research and development expenses increased to $36.6 million in 2023, up from $31.1 million in 2022, reflecting a commitment to innovation[105]. - Research and Development expenses were $36.6 million in 2023, representing 2.9% of net sales, remaining nearly flat compared to 2022[114]. Market and Competitive Environment - The company faces potential adverse impacts from geopolitical tensions and public health epidemics, which have historically affected economic markets and supply chains[48]. - Competitive pressures and macroeconomic factors, such as inflation, may hinder the company's ability to achieve pricing targets, affecting demand and gross margins[50]. - The company is at risk of losing market share if it cannot compete effectively with lower-priced products from competitors, which could lead to declines in sales volume and revenues[51]. Supply Chain and Cost Management - The company has experienced cost inflation and supply constraints for raw materials, prompting local manufacturing and sourcing strategies[19]. - Supply chain disruptions and increased costs of raw materials and labor could negatively impact operating results and financial condition[54]. - The company continues to adapt to supply chain challenges by employing local-for-local manufacturing strategies to contain costs[100]. - The company is focused on mitigating future raw material cost increases through supplier negotiations and supply chain optimization[148]. Employee and Governance - Women represent 50% of the executive management team and 33% of the Board of Directors as of December 31, 2023[33]. - The most recent gender wage gap assessment indicated that the median total income for females was 99.6% of that for males, suggesting no significant gender pay gap[34]. Shareholder Returns - The company paid cash dividends for 79 consecutive years, with a 2023 annual cash dividend payout of $1.075 per share, a $0.06 increase over 2022[90]. - During the twelve months ended December 31, 2023, the company repurchased 290,920 shares of its common stock for $21.7 million[91]. - The company has a repurchase program authorized by the Board of Directors, allowing the repurchase of up to 821,413 shares of common stock[203]. Risk Management - Cybersecurity threats pose risks to critical data and business operations, potentially resulting in financial loss and reputational damage[65]. - The company has not encountered any cybersecurity incidents that materially impaired its operations or financial standing[78]. - Increased compliance costs and legal risks arise from the complex international regulatory environment, potentially eroding profit margins[49]. Asset and Liability Management - Cash, cash equivalents, and restricted cash totaled $117.1 million at December 31, 2023, compared to $77.4 million at the end of 2022[122]. - The effective tax rate decreased to 11.6% in 2023 from 16.6% in 2022, primarily due to nonrecurring tax items[118]. - The company reported a decrease in long-term debt to $194.2 million in 2023 from $295.1 million in 2022, reflecting improved financial leverage[179]. International Operations - Net sales in the Americas reached $840.3 million in 2023, a 19.0% increase from 2022, with organic sales growing 18.9% driven by price realization and increased volume[108]. - EMEA net sales were $314.4 million in 2023, up 4.2% from 2022, with organic sales growth of 2.6% despite lower volumes due to weaker market conditions[109]. - APAC net sales totaled $88.9 million in 2023, a 5.0% increase from 2022, with organic sales growing 8.6% driven by price realization and volume increases in Australia and China[110].

Exhibit 99 Tennant Company Reports Record 2023 Fourth-Quarter and Full-Year Results Delivers Robust Growth of 13.9% in Net Sales and 65.2% in Net Income Achieves Strong Net Income to Free Cash Flow Conversion Introduces Full-Year Guidance for 2024 MINNEAPOLIS, MN (Feb. 22, 2024)—Tennant Company ("Tennant" or the "Company") (NYSE: TNC) today reported its fourth-quarter and full-year financial results for 2023. | (In millions, except per share data) | | | | Three Months Ended | | | | Twelve Months Ended | | | ...

Tennant Company (NYSE:TNC) Q3 2023 Earnings Conference Call October 31, 2023 11:00 AM ET Company Participants Lorenzo Bassi - Vice President, Finance and Investor Relations Dave Huml - President and Chief Executive Officer Fay West - Senior Vice President and Chief Financial Officer Conference Call Participants Chris Moore - CJS Steve Ferazani - Sidoti Tim Moore - EF Hutton Operator Good morning. My name is Krista, and I'll be your conference operator today. At this time, I would like to welcome everyone to ...

| --- | --- | --- | |-------|-------|-------| | | | | | | | | | | | | | | | | 2 Forward-Looking Statements & Non-GAAP Measures Certain statements contained in this document are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act. These statements do not relate to strictly historical or current facts and provide current expectations or forecasts of future events. Any such expectations or forecasts of future events are subject to a variety of factors. The ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________ Commission File Number 1-16191 __________________________________________ TENNANT COMPANY (Exact name of registrant as sp ...

Tennant Company (NYSE:TNC) Q2 2023 Earnings Conference Call August 4, 2023 11:00 AM ET Company Participants Lorenzo Bassi - VP of Finance and IR Dave Huml - President and CEO Fay West - SVP and CFO Conference Call Participants Chris Moore - CJS Securities Steve Ferazani - Sidoti and Company Tim Moore - EF Hutton Operator Good morning. My name is Chris and I will be your conference operator today. At this time, I would like to welcome everyone to Tennant Company's 2023 Second Quarter Earnings Conference Call ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents For the quarterly period ended June 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________ Commission File Number 1-16191 __________________________________________ TENNANT COMPANY (Exact name of registrant as specifi ...