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Vendor Finance 9 ƒ PRIORITIES and PROGRESS 10-13 ƒ FINANCIAL TRENDS 14-19 ƒ FUNDING PROGRESS 20-25 ƒ KEY MESSAGES 26 ƒ CONTACTS 27 ®

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Vendor Finance 9 ƒ PRIORITIES and PROGRESS 10-13 ƒ FINANCIAL TRENDS 14-19 ƒ FUNDING PROGRESS 20-25 ƒ KEY MESSAGES 26 ƒ CONTACTS 27 ® ® CIT Update March 2012 Important Notices This presentation contains forward-looking statements within the meaning of applicable federal securities laws that are based upon our current expectations and assumptions concerning future events, which are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. The words “expect,” “anticipate,” “estimate,” “forecast,” “initiative,” “objective,” “plan,” “goal,” “project,” “outlook,” “priorities,” “target,” “intend,” “evaluate,” “pursue,” “commence,” “seek,” “may,” “would,” “could,” “should,” “believe,” “potential,” “continue,” or the negative of any of those words or similar expressions is intended to identify forward-looking statements. All statements contained in this presentation, other than statements of historical fact, including without limitation, statements about our plans, strategies, prospects and expectations regarding future events and our financial performance, are forward-looking statements that involve certain risks and uncertainties. While these statements represent our current judgment on what the future may hold, and we believe these judgments are reasonable, these statements are not guarantees of any events or financial results, and our actual results may differ materially. Important factors that could cause our actual results to be materially differen t from our expecttitations ildinclude, among others, therikisk tha t CIT is unsuccessflful inrefin ing and implementing its strategy and business plan, the risk that CIT is unable to react to and address key business and regulatory issues, the risk that CIT is delayed in transitioning certain business platforms to CIT Bank and may not succeed in developing a stable, long-term source of funding, and the risk that CIT continues to be subject to liquidity constraints and higher funding costs. Further, there is a risk that the valuations resulting from our fresh start accounting analyy,sis, which are inherently uncertain, will differ siggynificantly from the actual values realized, due to the complexity of the valuation process, the degree of judgment required, and changes in market conditions and economic environment. We describe these and other risks that could affect our results in Item 1A, “Risk Factors,” of our latest Annual Report on Form 10-K filed with the Securities and Exchange Commission. Accordingly, you should not place undue reliance on the forward-looking statements contained in this presentation. These forward-looking statements speak only as of the date on which the statements were made. CIT undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except where expressly required by law. ThispresentationistobeusedsolelyaspartofCITmanagement's continuing investor communications program. This presentation shall not constitute an offer or solicitation in connection with any securities. Contents Slide # CIT OVERVIEW 3-4 BUSINESS UPDATES 5 •Corporate Finance 6 •Trade Finance 7 •Transportation Finance 8 •Vendor Finance 9 PRIORITIES AND PROGRESS 10-13 FINANCIAL TRENDS 14-19 FUNDING PROGRESS 20-25 KEY MESSAGES 26 CONTACTS 27 ® CIT Overview CIT – A Unique Franchise and Investment Opportunity Bank Holding Company with 100+ Years Experience Commercial Lending & Leasing Specialist Focus on Small and Mid-Sized Businesses Generate High Yielding Assets Global Servicing Capabilities Solid Capital and Liquidity Profile 3 Overview 2011 Highlights Increased commercial loan and lease volume each quarter Grew commercial assets in the fourth quarter Grew Commercial Recaptured market share in small and middle-market lending Origination Platform Entered adjacent markets Equipment finance & commercial real estate Improved portfolio quality Sold over $3.5 billion of non-core or low yielding assets Improved economic margin Improved Economic Profitability Maintained strong asset yields Reduced average borrowing cost to 4.2% at 12/31/11 (1) Reduced operating expenses Transferred SBL and US Vendor Finance platforms into CIT Bank Expanded Role of CIT Bank All commercial units originating business in the Bank 72% of 2011 US volume originated by CIT Bank Launched internet deposit platform Significant progress building out risk and control functions Cease & Desist Orders on CIT Bank lifted April 2011 Improved BHC Capabilities Substantial progress toward satisfying requirements of Written Agreement with Federal Reserve Board of NY (FRBNY) (1) Proforma for redemption of all remaining Series A notes and $4.75 billion of debt issuance in Q1 2012 as well as announced redemption of all 7% Series C 2015 notes in April 2012. Overview 5 ® Business Updates Providing Financial Solutions to Small and Middle Market Companies (1) Corporate Lending, leasing, advisory and other Finance and Leasing Assets financial services to small and middle Finance market companies Total $34 Billion (In Billions) Trade Factoring, lending, receivables management and trade finance to Finance companies in retail supply chain Consumer Corporate $6 Finance $7 Transportation Lending, leasing and advisory services to the transportation industry, principally Finance aerospace and rail Vendor Finance $5 Transportation Vendor Financing and leasing solutions to manufacturers and distributors around Finance Trade Finance the globe $13 Finance $2 Liquidating pool of largely government- Consumer guaranteed student loans (1) Finance and Leasing assets include loans, operating lease equipment and assets held for sale; data as of 12/31/2011 Business Updates 5 Corporate Finance Focus Corporate Finance provides lending, leasing and other financial and advisory services to the small business and middle market sectors Focused on specific industries: Commercial Real Estate, Communications, Energy, Entertainment, Healthcare, Industrials, Technology, Restaurants and Retail Update / Strategy $$$4 billion committed and $2.7 billion funded volume in 2011 (both up ~150%) ~80% of 2011 US volume originated by CIT Bank Portfolio qqyuality much imp roved; non-accrual loans down ~60% Re-entered equipment finance and commercial real estate markets Expanding ABL focus beyond traditional receivables/inventory Refining sponsor coverage model Increasing focus on agency roles Business Updates 6 Trade Finance Focus Largest Factor in the US PidditttiProvide credit protection, accoun ts rece iblivable managemen t&tt & asset- based lending to consumer product companies selling to retailers Core industries include apparel, textiles, footwear, furniture, home furnishings, house wares and consumer electronics Also o ffer asse t-bdlbased loans an dlttfditdthtdd letters of credit and other trade products/services UdtUpdate /Stt/ Strategy Client base stabilized; focused on recapturing share Commission rates and portfolio quality reflect health of retail sector Re-focus international strategy around capturing trade flows into the US Expand smaller (ie more profitable) client base Transition platform to CIT Bank Business Updates 7 Transportation Finance Focus Global aerospace and North American railcar and defense industries Own ~ 300 a ircra ft an d 100K+ ra ilcars Young fleets and strong order book Diverse client base with a broad spread of risk Update / Strategy Equipment utilization strong; lease rates stable in air, improved in rail 2012 air order book fully placed; rail orders 96% placed Expand business air and lending operations Emphasize relationships with quality lessors Further diversify funding sources Business Updates 8 Vendor Finance Focus Large and diverse customer base with ~1,900 active vendor partners, including global manufacturers & local resellers , and 400K end-user customers Equipment financing and full product lifecycle value-added services Leader in managed services and utility based programs Global franchise with volume fairly evenly split US and international Update / Strategy Volume up 11% from 2010 (~30% excluding platform sales) Transferred US platform to CIT Bank in October 2011 CIT Bank originated 97% of 4Q US volume Increased penetration into existing relationships Selectively expand industry focus Capitalize on international growth opportunities (Asia & Latin America) Continue to access lower cost funding across the globe Business Updates 9 ® Priorities and Progress Expanding CIT Bank Capabilities ($ In Billions) Asset Growth and Diversification: 12/31/11 12/31/09 Commercial Portfolio $3.9 $1.5 Sequential quarterly increases in volume Consumer Portfolio $2.2 $5.5 Originated 72% of US volume in 2011 Deposits – Broker $5.4 $5.1 US Corporate Finance, SBL and Vendor Deposits – Other (1) $0.7 $0.0 Finance platforms are in CIT Bank Funding Capacity: Cash & Investments $2.5 $2.0 Well-capitalized and liquid Tier One Leverage Ratio 25% 16% Launched internet deposit platform BankonCIT.com in October 2011 Employees 640 78 Deposit growth to reflect asset growth (1) Includes primarily institutional and retail (internet) deposits 10 Priorities and Progress Focused International Growth Strategy Over $12 Billion of International Assets Geographic Split (1) Segment Split Canada $2.6B Transportation Finance $8.7B Europe $3.0B Vendor Finance $2.6B Latin America $1.8B Corporate Finance $1.0B Asia / Pacific $3.3B Other $1.7B Growth Regions: Asia (China), Latin America (Brazil/Mexico), Europe BiBusiness Focus: - Transportation Finance – Continue to meet growing global demand for operating leases - Vendor Finance – Scale existing
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