Complexes with metalloproteinases (such as collagenases) and irreversibly inactivates them by binding to their catalytic zinc cofactor. Interacts (via the C-terminal) with MMP2 (via the C-terminal PEX domain); the interaction inhibits the MMP2 activity. Detected in testis, retina, hippocampus and cerebral cortex. After intracranial injury, expression peaks at 4 days post-injury and slightly declines at 7 days post-injury. The activity of TIMP2 is dependent on the presence of disulfide bonds. Belongs to the protease inhibitor I35 (TIMP) family.