CAI International, Inc. (“CAI”), a global leader in container leasing and sales, is pleased to announce a significant leadership transition. Effective January 1, 2024, our current President, Katie McCabe, will assume the role of President and Chief Executive Officer (CEO), succeeding Tim Page, our current CEO.

Under Tim Page's exceptional leadership, CAI has achieved remarkable growth and success, including the successful merger of CAI and Beacon Intermodal Leasing, LLC. (“Beacon”). His dedication, vision, and strategic acumen have been instrumental in shaping the company's trajectory. Mr. Page's contributions have been invaluable, and we are delighted to share that he will continue to serve the company in a new capacity. As a Corporate Strategy Advisor, Tim Page will offer ongoing strategic guidance and expertise, ensuring a seamless transition and the continued advancement of our organization.

Katie McCabe, the former President and CEO of Beacon (2016-2022), has served as President of CAI since January 2023. She brings a wealth of experience and a deep understanding of our industry. Her commitment to innovation, customer-centric approach, and collaborative leadership style have been key drivers of our company's success. As she assumes the role of CEO, we are confident in her ability to lead CAI into a new era of growth, innovation, and excellence.

Commenting on this transition, Hisashi Ishimaki, Chairman of the Board of CAI, stated, “We are immensely grateful for Tim Page's outstanding leadership, and we look forward to his continued involvement as our strategy advisor. Katie McCabe has consistently demonstrated her capacity to lead and innovate, and we have full confidence that she will drive CAI to new heights in her role as CEO.”

As we embark on this exciting journey, CAI expresses its gratitude to all stakeholders for their continued support. We remain committed to delivering exceptional service to our customers and maintaining our position as a leader in container leasing. Together, under the guidance of Katie McCabe and the ongoing counsel of Tim Page, we are poised for a bright and prosperous future.

About CAI International, Inc.

CAI is a group company of Mitsubishi HC Capital Inc. (TSE: 8593), one of the world’s largest and most diversified financial groups. CAI is one of the top container lessors in the world with a fleet of over 3.4 million Twenty-Foot-Equivalent units, representing nearly $6 billion in assets. With offices in 11 countries around the world and a vast network of agents and depots, CAI serves hundreds of the world’s leading shipping lines, container operators, and logistic providers. On January 1, 2023, CAI merged with Beacon Intermodal Leasing, that was also a group company of Mitsubishi HC Capital.

About Mitsubishi HC Capital Group

Mitsubishi HC Capital Inc., the parent of Mitsubishi HC Capital Group, is the second largest leasing company (by assets) in Japan and operates globally in core sectors of aviation, container shipping, rail, mobility, real estate, and renewable energy. Mitsubishi HC Capital Group is committed to its 10-year Vision, “Together we innovate, challenge and explore the frontiers of the future.” To achieve this vision, the Group focuses on the evolution and layering of business models, by developing services and promoting investments while effectively maximizing tangible and intangible assets. In addition, Mitsubishi HC Capital Group continues to advance and support a bright, sustainable future by offering unique and progressive solutions to meet the ever-changing needs of society and customers with consideration of the global environment.

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