JOST Werke AG

Investor Presentation • Aug 14, 2025

EARNINGS CONFERENCE H1 2025 / Q2 2025

Joachim Dürr (CEO) & Oliver Gantzert (CFO)

August 14, 2025

DISCLAIMER

THIS PRESENTATION IS CONFIDENTIAL AND MUST NOT BE RELEASED, PUBLISHED, TRANSMITTED OR DISTRIBUTED, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, INTO OR WITHIN THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN OR ANY JURISDICTION WHERE SUCH DISTRIBUTIONIS UNLAWFUL.

This presentation (the "Presentation") was specifically prepared by JOST Werke SE (the "Company") for informational purposes only. It is intended to provide a general overview of the Company's business and does not purport to include all aspects and details regarding the Company. This Presentation must not be reproduced in any form, passed on or otherwise made available, directly or indirectly, to any other person, or published or otherwise disclosed, in whole or in part, for any purpose, without prior written consent by the Company. Neither the Company nor any of its directors, officers, employees or advisors, nor any other person makes any representation or warranty, express or implied, as to, and accordingly no reliance should be placed on, the fairness, accuracy or completeness of the information contained in the Presentation or of the views given or implied. Neither the Company nor any of its respective directors, officers, employees or advisors nor any other person shall have any liability whatsoever for any errors or omissions or any loss howsoever arising, directly or indirectly, from any use of this information or its contents or otherwise arising in connection therewith.

This Presentation is neither an advertisement nor a prospectus and does not, and is not intended to, constitute or form part of, and should not be construed as, an offer to sell, or a solicitation, invitation or inducement to purchase, subscribe for, under- write or otherwise acquire any securities of the Company, nor should it, or any part of it, form the basis of or be relied on in connection with or act as any inducement to enter into any contract to purchase or subscribe for any securities of the Company, nor shall it, or any part of it, form the basis of or be relied on in connection with any contract or commitment or investment decision whatsoever. This Presentation and the information and opinions contained therein are selective in nature and do not purport to contain all information that may be required to evaluate the Company and/or its shares. The information and opinions contained in this Presentation are provided as of the date of this Presentation and may be subject to updating, revision, amendment or change without notice. Neither the Company nor any of its directors, officers, employees or advisors are under any obligation to update or keep current the information contained in this Presentation or to correct any inaccuracies in any such information which may become apparent or to provide any additional information whether as a result of new information, future events or otherwise.

This Presentation contains forward-looking statements relating to matters that are not historical facts. These statements reflect the Company's current knowledge, intentions and beliefs as well as its current expectations and projections about future events, including the Company's prospects, growth, strategies, the industry in which it operates and potential or ongoing acquisitions. Forward-looking statements can be identified by the context of such statements or words such as "anticipate," "believe", "estimate", "expect", "forecast", "intend", "plan", "project", "target", "may", "will", "would", "could" or "should" or similar terminology. By their nature, forward-looking statements are subject to a number of risks, uncertainties and assumptions, many of which are beyond the Company's control, that could cause the Company's actual results and performance to differ materially from and adversely affect any expected future results or performance expressed or implied by any forward-looking statements as a result of various factors (including global economic conditions, changed market conditions, competition, costs of compliance, changing political, legal, economic and other conditions). Forward-looking statements should not therefore

be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Similarly, past performance should not be taken as an indication of future results, and no representation or warranty, express or implied, is made regarding future performance. In addition, even if the development of the Company's prospects, growth, strategies and the industry in which it operates are consistent with the forward-looking statements contained in this Presentation or past performance, those developments may not be indicative of the Company's results, liquidity or financial position or of results or developments in subsequent periods not covered by this Presentation. The Company undertakes no obligation to release the results of any revisions to any forward-looking statements in this Presentation that may occur due to any change in its expectations or to reflect events or circumstances after the date of this Presentation.

To the extent available, the industry and market data contained in this Presentation is derived from third-party sources. Third-party industry publications, studies and surveys generally state that the data contained therein have been obtained from sources believed to be reliable, but that there is no guarantee of the accuracy or completeness of such data. In addition, certain information in this Presentation is selective and may not necessarily be representative for the Company. Further, some of the industry and market data contained in this Presentation is derived from the Company's own internal research and estimates based on the knowledge and experience of the Company's management in the market in which the Company operates. While the Company believes that such research and estimates are reasonable and reliable, they, and their underlying methodology and assumptions, have not been verified by any independent source for accuracy or completeness and are subject to change without notice. Accordingly, no reliance should be placed on the industry or market data contained in this Presentation.

Subject to limited exceptions described below, the information contained in this Presentation is not to be released, published, transmitted or distributed within or into the United States of America ("United States"), Australia, Canada or Japan and does not constitute an offer of securities for sale in any of these jurisdictions. Any securities offered by the Company have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state or other jurisdiction of the United States and such securities may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state or local securities laws. This Presentation does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person or in any jurisdiction to whom or in which such offer or solicitation is unlawful. Any failure to comply with these restrictions may constitute a violation of applicable securities laws.

HIGHLIGHTS

JOST continues growth plan driven by M&A and local market share gains, despite contracting global markets.

Hyva PMI fully on track. First synergies implemented. Exit of non-core cranes business prepared in Q2. SPA signed on Aug 11, 2025.

Market share gains in Agriculture in APAC and South America as JOST signs new long-term contracts with agricultural OEMs.

Market demand in EMEA stabilizes in Q2 2025 with order intake slowly increasing. Demand in the US slows down due to tariffs uncertainties.

Promissory note loan of €320m successfully placed in Q2 2025, increasing long-term loan maturity profile at attractive conditions.

Financial

Highlights

JOST SHOWS RESILIENCE AMID MARKET UNCERTAINTIES DRIVEN BY THE DIVERSIFICATION

Sales in Q2 2025 up +31% to €391m supported by Hyva M&A effects (excl. cranes). Organic sales slightly down by -3% vs. Q2 2024.

Adj. EBIT grew by +10% to €37m and adj. EBIT margin reached 9.5%, supported by a good operating performance and the classification of Hyva's cranes business as discontinued operations.

Hyva contributed positively to adj. EPS in Q2 2025, offsetting the sales-driven organic decline of earnings. As a result, adj. EPS in Q2 2025 increased by 3% to €1.41 vs. Q2 2024.

Leverage at 2.78x, temporary above 2.5x due to dividend payout of €22m in Q2 2025. We expect to be below 2.5x again by end of 2025.

Free cash flow in Q2 2025 declined to € +5m due to higher Working Capital. Driving factors were the Hyva consolidation, growing activity level in EMEA and stock increases due to tariffs supply chain uncertainties.

INDUSTRY MARKET DEVELOPMENT Q2 2025 VS. Q2 2024

Note: Market estimates based on LMC, Clear Consulting, ACT, OEM announcements, JOST estimates (as of August 2025)

STRONG RESILIENCE THROUGH WIDE RANGE OF END MARKETS, PRODUCTS AND CUSTOMERS

EMEA¹ – GROWTH DRIVEN BY M&A AND SLIGHT UPTICK IN MARKET DEMAND IN Q2 2025

EMEA

situation remains fragile 8.5 10.9 23.4 22.3 155 188 Q2 2024 Q2 2025 319 376 H1 2024 H1 2025 Reported Growth 7.3% 5.9% 5.4% 5.8% Adj. EBIT margin (%) Adj. EBIT growth (%) 17.9% -1.5% 3.7% -4.5% 29.3% 20.9% Organic Sales (€m) Adj. EBIT (€m)

Q2 2024 Q2 2025

1) Sales and adj. EBIT as well as organic sales development shown excl. discontinued operations from Cranes business

• Positive M&A sales contribution from Hyva of €25m resulted in strong sales increase of +21% in Q2 2025 (excl. discontinued operations)

• • Market demand in Transport and Agriculture stabilized, leading to organic sales growth of ~4% vs. Q2 2024
• • Order intake continued to gain some momentum in Q2 2025, but
• • Minor FX tailwinds of 0.9pp for sales in EMEA in Q2 2025
• • Profitability development supported by intended sales of the Cranes business and the excl. of discontinued operations
• • No short-time work used in Q2 2025 for European plants, which also supported profitability increase vs. prior year Q2 2024
• Region EMEA bears higher proportion of fixed costs, due to higher share of SG&A and R&D in overall staff

H1 2024 H1 2025

AMERICAS¹ – SOLID PROFITABILITY SHOWCASING BUSINESS RESILIENCE

1) Sales and adj. EBIT as well as organic sales development shown excl. discontinued operations from Cranes business

9 JOST Werke SE I Earnings Conference H1 2025 / Q2 2025 – 14 August 2025

APAC¹ – GROWTH BOOSTED BY STRONG HYVA POSITION IN ASIA AND SLIGHT MARKET SHARE GAINS IN AGRICULTURE

APAC

1) Sales and adj. EBIT as well as organic sales development shown excl. discontinued operations from Cranes business

+ Strong M&A contribution of €60m from Hyva, more than doubling
sales in Q2 2025 vs. prior year

• • Growth of agricultural business in APAC continues as JOST's market penetration grows further, gaining market shares with new products

• Weak Transport business in India and the Pacific region resulted in organic sales decline by -10% in Q2 2025; China business robust driven

• Strong FX-headwinds of -5.1pp impacted sales in the region in Q2

• • High capacity utilization of agricultural production in Chennai, India, offsets lower utilization of plant for Transport products
• • Plant consolidation of agricultural production into JOSTs' Ningbo plant in China continues to provide synergies that support profitability
• • Profitability development of Hyva in line with expectations after consolidation of Hyva (pre-synergies)

GROUP¹ – CONSOLIDATION OF HYVA DRIVES SALES AND EARNINGS

group

1) Sales and adj. EBIT as well as organic sales development shown excl. discontinued operations from Cranes business

• Positive M&A contribution in hydraulics of €109m in Q2 2025 (excl. 5 months disc. operations of cranes business, Feb-June 2025)

• Global demand still below prior year, but stabilizing in EMEA, with JOST's organic sales declining only by -3% in Q2

• • Pick-up in order intake in EMEA and China continue but sustainability of improvement remains uncertain
• FX-headwinds of -2.2pp burdened sales development
• • Profitability was supported by the intended sales of Hyva's cranes business and the resulting deduction of the discontinued operations
• • Ongoing cost control paired with active portfolio management helped to offset organic decline of top-line
• • Wide mix of end-industries, products, customers and regions increased flexibility, allowing us to offset negative market dynamics
• • Resilient aftermarket business continued to support profitability

SALES DEVELOPMENT INCL. DISCONTINUED OPERATIONS FROM CRANES BUSINESS

ADJUSTED NET INCOME AND ADJUSTED EPS

Reported net income declined to €20m (H1 2024: €34m). income

Reported EPS declined to €1.33 (H1 2024: €2.31)

• − PPA D&A adjustment grew to €-27m (H1 2024: €-12m) due to Hyva PPA, inventory step-ups and addition of regular depreciation of trademarks
• − Other exceptionals amounted to €-6m (H1 2024: €-3m) due to one-off integration and transaction fees incl. lay-off expenses

Adj. net income stable at €46m (H1 2024: €46m). Hyva offset organic-sales driven decline (-6.5%) of adj. net income in H1 2025.

Adj. EPS thus reached €3.06 (H1 2024: €3.07)

− Adj. net earnings to sales ratio reached 6.0% (H1 2024: 7.8%)

PRELIMINARY HYVA PPA - IMPACT ON BALANCE SHEET

Acquired assets & liabilities after preliminary PPA (31st January 2025) – [in m€] Comments

• Goodwill amount is ~ €76m (at acquisition date), reflecting latest valuation results out of the almost finalized PPA (Purchase Price Allocation), incl. fair value of Hyva Crane inventory.
• JOST decided to start regular PPA amortization of acquired trademarks (prospective effects).
• The preliminary purchase price incl. cash and debt positions amounts to ~ €327m in cash. After settlement of receivables vs. former shareholder net cash proceeds have been ~ €309. Minus cash, plus interest bearing debt leads to EV of €373m.
• Preliminary valuation of intangible assets identified ~ €248m. The two main identified intangible asset groups are trademarks as well as customer relationships.
• Org. amounts are in USD FX effects incl.

Profit & Loss H1-2025

• #1: D&A from new Hyva PPA amounted to €-7.5m in H1 2025. This includes ~€ -1.8m PPA on order backlog (expected ~€ -4.0m order backlog in FY2025 which will fully phase out in 2025). The regular trademark amortization has been incorporated as well.
• #2: € -6.8m adjustments resulted from the utilization of inventories step-up. Further ~ €-8m are planned for the remaining fiscal year. This effect will fully phase out during 2025.
• Exceptionals in H1 2025 amount to € -6.4m (H1-24: € -3.1m) and are almost fully related to Hyva integration process.
• 2025 full year net income impact from #1 and #2 will be ~€-28m and 2026ff ~€-15m, depending on final valuation results.

CASH FLOW AND WORKING CAPITAL DEVELOPMENT

³Capex = Payments to acquire property, plant and equipment + payments to acquire intangible assets

ROCE, EQUITY RATIO AND LEVERAGE DEVELOPMENT

BALANCE SHEET

• Increase in financial liabilities needed to finance acquisition of Hyva resulted in an expected decline in ROCE, compared to year-end
• • Positive adj. EBIT contribution from Hyva partially offset organic revenue-driven decline of adj. EBIT, supporting ROCE
• Increase in current and noncurrent liabilities following the acquisition of Hyva led to a decline of the equity ratio to 21%
• FX translation effects (mainly USD devaluation vs EUR) of €-57m in H1 impacted equity development negatively (-3.4ppt ratio driven by FX)
• Net debt grew to €493m following the debt-financed acquisition of Hyva and dividend payout of €22m in Q2 2025
• • Leverage temporary above the targeted 2.5x mark, mostly driven by dividend payout in Q2 2025 and lower FCF due to WC increases to support higher activity level in EMEA and protect supply chain in the U.S.

¹ ROCE=LTM adj. EBIT (incl. acquisitions LTM) / interest-bearing capital employed (interest-bearing capital = equity + financial liabilities [excl. refinancing costs] – liquid assets + provisions for pensions)

² Net debt = interest bearing capital [excl. refinancing costs] – liquid assets

³ Leverage = Net debt/LTM adj. EBITDA [LTM adj. EBITDA H1 2025= € 178m (incl. acquisitions LTM); LTM adj. EBITDA H1 2024 = € 168m ]

MARKET DEVELOPMENT EXPECTATIONS FOR 2025 (INDUSTRY VOLUME)

EMEA

Demand stable on prior's year level with slight positive momentum expected in H2.

Market shows signs of recovering after two very weak years, as fleets replacement needs grow.

(5) – 0 %

Demand for agricultural tractors expected to stabilize at low prior year's volumes.

0 – 5 %

Weak market signs for Europe, except for OEMs increasing H2 capacity in the Defense sector. MEA maintains strong growth.

AMERICAS

Market uncertainty worsens, driven by persistent tariff discussions, stalling investments in Class 8 trucks.

(25) – (20) %

Market uncertainty worsens, driven by persistent tariff discussions, stalling investments in trailers.

(15) – (10) %

Tariff uncertainties and high interest rates slow down investments in AG equipment, leading to further demand decline.

(10) – (5) %

North America impacted by tariff uncertainties. South America economy cooling down and high interest rates stall investments.

APAC

Chinese truck OEMs grow with exports to Global South. Truck demand in India and the Pacific region decline further.

Trailer production in India remains weak, slowing down market expectations. China on prior's year level.

(5) – 0 %

Demand for agricultural tractors expected to stagnate, affected by the slow-down in the Indian market.

0 – 5 %

China shows strong growth with exports to Global South regions. India's infrastructure and mining investment remains weak.

Note: Market estimates based on LMC, Clear Consulting, ACT, OEM announcements, JOST estimates (as of August 2025)

Outlook

2025

OUTLOOK FY 2025 CONFIRMED

Sales	Up by 40% to 50% vs. prior year
(cont. operations)	(2024: €1,069m)
Adj. EBIT	Up by 23% to 28% vs. prior year
(cont. operations)	(2024: €113m)
Adj. EBITDA	Up by 23% to 28% vs. prior year
(cont. operations)	(2024: €148m)
Capex 1 (in % of sales)	Approx. 2.9% of sales (2024: 3.1%)
1: Excluding M&A Working Capital	Below 18.5% of sales (2024: 15.3%)

Outlook 2025 incl. discontinued operations remains unchanged with sales expected to grow by 50%-60% vs. 2024 and adj. EBIT expected to increase by 25%-50% vs. prior year, subject to timing of closing.

Solid Q2 2025 results amid market uncertainties, proving success of JOST's resilient business model.

on core business to generate profitable growth.

Disposal of cranes business successfully prepared.

Hyva PMI integration well on track, with clear focus

SPA signed on August 11, 2025. Closing expected in Q4 2025.

Upside potential for EMEA and Agricultural business. Tariffs uncertainties affect AMERICAS and weak Indian market slows down APAC recovery.

Outlook 2025 confirmed. Outlook for continuing operations (excl. cranes) specified.

Appendix Questions

HISTORICAL SEASONALITY DEVELOPMENT OF JOST'S SALES AND ADJUSTED EBIT BY QUARTER

Sales (€m) Adj. EBIT (€m) / Adj. EBIT Margin (%)

Note: Sales and adj. EBIT as well as organic sales development shown excl. discontinued operations from Cranes business

SHAREHOLDER STRUCTURE AND SHARE INFORMATION

Shareholder structure as of August 14, 2025

Share information

ISIN	DE000JST4000
Trading symbol	JST
German Sec. Code Number (WKN)	JST400
Shares in issue	14,900,000
Index	SDAX
Listed since	July 20, 2017

BUSINESS STEERING ADJUSTED TO BE READY FOR HYVA INTEGRATION AND AMBITION 2030 TARGETS

Group steering streamlined into three (new) regions: AMERICAS (North and South America), EMEA (Europe, Middle East and Africa) and APAC (Asia, Pacific and Oceania) Each region is headed by a regional Top Management Team developing and implementing regional initiatives to drive our

Three Business Lines develop and steer the strategic global product and market roadmap (Transport, Agriculture, Hydraulics)

Ambition 2030 strategy forward (Regional Fitness and Growth)

Sales from Hyva group will be consolidated within the Business Line Hydraulics

UPCOMING INVESTOR EVENTS

Aug 14, 2025	Publication of Q2 2025 Interim Report
Sept 4, 2025	ODDO BHF Sector Conference 2025, Frankfurt/Germany
Sept 23, 2025	Baader Investment Conference 2025, Munich/Germany
Sept 24, 2025	Berenberg 14th Germany Corporate Conference, Munich/Germany
Nov 13, 2025	Publication of Q3 2025 Interim Report
Dec 1, 2025	Berenberg European Conference, London/UK

INVESTOR RELATIONS CONTACT

ROMY ACOSTA

Head of Investor Relations

E-MAIL: romy.acosta@jost-world.com PHONE: +49-6102-295-379 FAX: +49-6102-295-661

JOST Werke SE

SIEMENSSTRASSE 2 63263 NEU-ISENBURG GERMANY

WWW.JOST-WORLD.COM