Jungheinrich AG

Investor Presentation • Mar 28, 2024

Virtual analyst conference for the 2023 financial year

Dr Lars Brzoska (Chairman of the Board of Management)

Dr Volker Hues (Member of the Board of Management, Finance) Hamburg, 28 March 2024

2023 Highlights | Dr Lars Brzoska

Key figures for 2023 | Dr Volker Hues

Outlook for 2024 | Dr Lars Brzoska

2023 Financial year: Historic highs achieved despite tighter macroeconomic conditions

Incoming orders and revenue each exceed €5 billion

Successful acquisition of Storage Solutions and Magazino

EBIT up 11% to €430 million 100% electric

New historic record for dividend achieved

Start of production in new plant in Czechia

Transformation driven forward and strategic step taken

Important milestones achieved in DEEP programme

Q4 contributes to expected business development

	Q4 2022	Q4 2023	Change %
in € million Incoming orders	1,197	1,365	14.0
in € million Revenue	1,366	1,526	11.7
in € million EBIT	120.1	91.5	-23.8
in % EBIT ROS	8.8	6.0	–
in € million EBT	112.8	84.5	-25.1
EBT ROS in %	8.3	5.5	–

Effects in Q4 2023

Orders for new trucks above previous year, major project orders received

Orders of Storage Solutions: €30 million

Revenue of Storage Solutions: €83 million

Results affected by:

• increase in workforce, tariff effects and costs of strategic projects
• decreased number of units produced

Revenue at upper value, EBIT and EBT in the middle of the forecast range

	Actual 2023	April 20231 forecast
Incoming orders in € billion	5.2	5.0 to 5.4
in € billion Revenue	5.5	5.1 to 5.5
EBIT in € million	430	400 to 450
in % EBIT ROS	7.8	7.8 to 8.6
EBT in € million	399	370 to 420
EBT ROS in %	7.2	7.2 to 8.0
ROCE in %	15.9	15.0 to 18.0
in € million Free cash flow	15	significantly better, but still negative2

¹ Ad hoc announcement on 24 April 2023 and interim statement as of 31 March 2023

² Compared to previous year (2022): €-239 million

Included effects from acquisitions

Storage Solutions:

• Incoming orders
• Revenue
• Operating EBIT
• Transaction costs
• Purchase price allocation
• €157 million €219 million €31 million €-8 million

€-13 million

Variable remuneration €-15 million

ROCE includes goodwill for Storage Solutions and Magazino of €302 million

Free cash flow negatively impacted by acquisitions of Storage Solutions and Magazino with €326 million

Significantly larger global footprint due to Storage Solutions

Leading provider of ready to use racking systems and warehouse automation in the US

Growth platform for Jungheinrich in the US market for warehouse equipment and automation

¹ EBIT excluding transaction costs, purchase price allocation and variable remuneration

Closing: 15 March 2023 Post-merger integration proceeding as planned

Goodwill 31 December 2023: €274 million

7

2023 Highlights | Dr Lars Brzoska

Key figures for 2023 | Dr Volker Hues

Outlook for 2024 | Dr Lars Brzoska

Increase in incoming orders despite difficult market environment

Incoming orders of €157 million from Storage Solutions included from 15 March 2023 Orders on hand reflect normalisation of supply chains

Significant revenue growth across all business fields

in € million	2022	2023	Change %
New business	2,858	3,384	18.4
Short-term rental and used equipment	710	761	7.2
After-sales services	1,310	1,451	10.8
Intralogistics segment	4,878	5,595	14.7
Financial Services segment	1,131	1,322	16.9
Consolidation	-1,245	-1,372	10.2
Jungheinrich Group	4,763	5,546	16.4

Revenue of Storage Solutions amounting to €219 million included Intralogistics and Financial Services segments achieve double-digit growth rates

Revenue outside Europe reaches 20% due to acquisitions

Figures for previous year shown in brackets

Top 5 revenue countries
1. Germany	2.	Italy	3. France
	4. USA		5. United Kingdom

in € million	2022	2023	Change %
Germany	1,106	1,205	9.0
Western Europe	2,113	2,395	13.3
Eastern Europe	798	859	7.6
Other countries	746	1,087	45.7
Total	4,763	5,546	16.4

EBIT exceeds €400 million for the first time

Operating result for Storage Solutions (€31 million) netted with transaction costs (€8 million), purchase price allocation (€13 million) and variable remuneration component (€15 million) lead to EBIT effect of €-5 million

EBIT effect from acquisition of Magazino: €-7 million

Better financial result due to income in the special fund and positive effect from the currency hedge for the purchase price payment for Storage Solutions leads to higher EBT

Dividend rises to historic high

Higher capital expenditure reflects capacity expansion in Czechia

Capital expenditure1

Research and development expenditure

Construction of new plant in Chomutov included at €16 million in the reporting year (previous year: €7 million)

Focus of R&D activities: Design of new material handling equipment with a focus on further development of efficient energy storage systems, development of mobile robots and optimisation of automated systems

¹ Property, plant and equipment and intangible assets excluding capitalised development expenditure and right-of-use assets

Positive free cash flow despite negative impact from acquisitions

Stable working capital relieves cash flow by €365 million

Cash flows from investing activities negatively impacted by purchase price payments of €326 million for Storage Solutions and Magazino

ROCE reflects M&A, working capital ratio significantly improved

Increase in average capital employed primarily as a result of the goodwill recognised for Storage Solutions and Magazino (total €302 million)

Working capital, Group in € million

Normalisation of supply chains and measures to reduce inventories result in stable working capital

Financial Services: Contracts on hand exceed €4 billion

Increase in workforce largely driven by strategy implementation

Increase due to M&A (Storage Solutions: 186 FTE, Magazino: 117 FTE), expansion of nearshoring organisation (177 FTE), start of production at Chomutov plant (65 FTE)

¹ Full-time equivalents (FTE), including trainees and apprentices, excluding temporary workers

2023 Highlights | Dr Lars Brzoska

Key figures for 2023 | Dr Volker Hues

Outlook for 2024 | Dr Lars Brzoska

Automation and warehouse equipment

Focus: New Board of Management division

Establishment of Board-level division reflects the strategic importance of automation for Jungheinrich

Large key market with continued above-average growth rates

Reorganisation contributes to accelerated growth and increased profitability

Personnel changes in the Board of Management

Udo Panenka Heike Wulff Maik Manthey

New Board division Automation with effect from 01/04/2024

2019–2024 ATS Corporation Industrial Automation | President

2014–2018 Danaher Group, Esko | last position President Esko

2008–2014 Danaher Group, Kollmorgen Industrial Automation | last position Vice President &

General Manager Europe & India

New member of the Board of Management, Designated CFO, with effect from 01/05/2024

since 2021: Jungheinrich AG | Vice President Corporate Controlling

2018–2020 KION Group AG | last position Vice President IFRS Competence & Statutory Accounts

2012–2018 STILL GmbH | last position Senior Director Operations Controlling & Tax STILL EMEA

2004–2012 PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft | Certified Accountant & Tax Advisor

New member of the Board of Management, Technics, with effect from 01/07/2024

2021–2024 CLAAS KGaA mbH | last position Senior Vice President Global Engineering Technology

2016–2021

KION Group AG | last position Senior Vice President Brand & Product Management

2008–2016

Linde Material Handling GmbH | last position Vice President New Business & Products

Outlook for 2024: Anticipated global economic growth hampered by geopolitical tensions

GDP1 in %	2023	2024 forecast
World	3.1	3.1
USA	2.5	2.1
China	5.2	4.6
Eurozone	0.5	0.9
Germany	–0.3	0.5

Risks

Geopolitical upheavals

Persistent weak demand

Structural increase in competitive pressure

Opportunities

Automation and digitalisation

Globalisation and reversals of trends

Sustainability

¹ Source: International Monetary Fund, 30 January 2024

2024 forecast

	Actual 2023	2024 forecast
Incoming orders in € billion	5.2	5.2 to 5.8
in € billion Revenue	5.5	5.3 to 5.9
EBIT in € million	430	420 to 470
in % EBIT ROS	7.8	7.6 to 8.4
EBT in € million	399	380 to 430
EBT ROS in %	7.2	6.9 to 7.7
ROCE in %	15.9	14.5 to 17.5
in € million Free cash flow	15	>200

Assumptions

No deterioration in the geopolitical situation

Current interest and inflation environment is maintained

Stable supply chains

Included effects from acquisitions

Purchase price allocations (€13 million)

Variable remuneration (€11 million)

Disclaimer

The explanations in this presentation are partially forward-looking statements that are based on the company management's current expectations, assumptions and assessments for future developments. Such statements are subject to risks and uncertainty that are largely beyond the company's control. This includes changes in the overall economic situation, such as impacts from geopolitical conflicts, natural catastrophes, pandemics and similar force majeure events, debt issues, within the intralogistics sector, in materials supply, the availability and price development of energy and raw materials, demand in important markets, developments in competition and regulatory frameworks and regulations, exchange and interest rates and the outcome of pending or future legal proceedings. markets, developments in competition and regulatory frameworks and regulations, exchange and interest rates and the outcome of pending or future legal proceedings.Should these or other uncertainties or unknown factors apply or the assumptions on which these statements are based proved false, actual results may deviate significantly from the results stated or implied. No responsibility is therefore taken for forward-looking statements. Without prejudice to existing capital market obligations, there is no intention to accept any obligation to update forward-looking statements.

Q & A

2024 financial calendar and IR contact

Financial calendar IR contact

Date	Events
28/03/2024	Balance sheet press conference (virtual)
28/03/2024	Analyst conference (virtual)
07/05/2024	Interim statement as of 31/03/2024
15/05/2024	Annual General Meeting
20/05/2024	Dividend payment
09/08/2024	Interim report as of 30/06/2024
12/11/2024	Interim statement as of 30/09/2024

Andrea Bleesen Head of Corporate Investor Relations

Jungheinrich Aktiengesellschaft Friedrich-Ebert-Damm 129 22047 Hamburg, Germany

Tel +49 (0)40 6948 3407

andrea.bleesen@jungheinrich.de www.jungheinrich.com

General information

Stock exchanges: Frankfurt, Hamburg and all other German stock exchanges

Segment: Prime Standard Branch: Industry Stock index: MDAX

Tickers: Reuters JUNG_p.de Bloomberg JUN3 GR

Subscribed capital: €102 million divided into 54,000,000 no-par-value ordinary shares 48,000,000 no-par-value preferred shares (listed)

Securities identification numbers (preferred shares):

ISIN: DE0006219934 WKN: 621 993