Company: TRTN-PA
Filing Date: 2025-01-31
Form Type: 424B5
Source: 0001193125-25-018485
Chunk: 48

Company: Triton International Ltd
Filing Date: 2025-01-31
Form: 424B5
Chunk 48
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 above by making a mark-to-market election and, in certain circumstances,
a retroactive election, provided that our Series F Preference Shares are treated as regularly traded on a qualified exchange or other market within the meaning of applicable U.S. Treasury Regulations. The Series F Preference Shares are a new issue
of securities with no established trading market. We intend to apply to list the Series F Preference Shares on the NYSE, which is a qualified exchange or other market for these purposes. If the application is approved, trading of the Series F
Preference Shares on the NYSE is expected to begin within 30 days after the date of initial delivery of the Series F Preference Shares. Consequently, assuming that our Series F Preference Shares become and then continue to be regularly traded, we
expect that the mark-to-market election will be available to U.S. Holders if Triton is determined to be a PFIC, but no assurances can be given in this regard. If you
make a valid mark-to-market election for your Series F Preference Shares, you would include in income each year an amount equal to the excess, if any, of the fair market
value of the Series F Preference Shares as of the close of your taxable year over your adjusted basis in such Series F Preference Shares. You would be allowed a deduction for the excess, if any, of the adjusted basis of your Series F Preference
Shares over their fair market value as of the close of the taxable year, but only to the extent of any net mark-to-market gains on your Series F Preference Shares
included in your income for prior taxable years. Amounts included in your income under a

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mark-to-market election, as well as gain on the actual sale or other disposition of the Series F Preference Shares,
would be treated as ordinary income. Ordinary loss treatment would also apply to the deductible portion of any mark-to-market loss on the Series F Preference Shares, as
well as to any loss realized on the actual sale or disposition of the Series F Preference Shares, to the extent that the amount of such loss does not exceed the net
mark-to-market gains previously included for such Series F Preference Shares. Your basis in the Series F Preference Shares would be adjusted to reflect any such income
or loss amounts. If you make such a mark-to-market election, tax rules that apply to distributions by corporations which are not PFICs would apply to distributions by us
(except that the lower qualified dividends rate would not apply).

Alternatively, a U.S. Holder may avoid the PF