Company: TRTN-PA
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001660734-25-000004
Chunk: 63

Company: Triton International Ltd
Filing Date: 2025-02-28
Form: 20-F
Item: Item 7
Chunk 63
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 or ratifies Related Person Transactions. Transactions deemed reasonably likely to be Related Person Transactions are reviewed by the Audit Committee at its next meeting, unless action is required sooner. In such a case, the transaction would be submitted to the Audit Committee Chair for approval in advance of the next scheduled Audit Committee meeting. In reviewing Related Person Transactions, the following factors will generally be considered:

• the nature of the related person’s interest in the transaction;

• the purpose and material terms of the transaction, including the amount and type of transaction;

• the importance of the transaction to the related person and to Triton;

• whether the transaction is in the ordinary course of Triton’s business and whether it was initiated by Triton or the related person;

• whether the transaction is on terms no less favorable to Triton than terms that could have been reached with an unrelated third party;

• whether the transaction would impair the judgment of a director or executive officer to act in the best interest of Triton; and

• any other matters deemed appropriate with respect to the particular transaction.

Transactions with Related Persons

The following is a description of the Related Person Transactions we have entered into since January 1, 2024 that had, or will have, a direct or indirect material interest on us or on a related person. The following excludes discussion of compensation arrangements, which are described under Items 6. A," Directors and Senior Management" and 6. B," Compensation".

Tax Credit Transfer Agreement

The Company entered into a Tax Credit Transfer Agreement on October 29, 2024 to purchase $33.0 million of renewable energy tax credits from Urban Grid Partnership 2 Holding, LLC, a Brookfield Renewable portfolio company that develops solar power plants. The tax credits are expected to offset a significant portion of Triton’s 2024 federal tax liability. The Company paid Urban Grid $30.7 million for the tax credits and recorded a $2.3 million income tax benefit on the Consolidated Statement of Operations for the year ended December 31, 2024.

TCF VIII Distribution

In connection with a share purchase agreement entered into between a third-party investor and Parent in December 2024, Triton expects to distribute all of the equity interests in TCF VIII to Parent. Refer to Item 5, "Operating and Financial Review and Prospects - Recent Developments" for additional information.

Other Transactions

Certain portfolio companies and other affiliates of Brookfield Infrastructure have from time to time entered into, and