Jungheinrich AG

Earnings Release • Aug 12, 2022

INTRALOGISTICS PIONEERS

Interim report as of 30 June 2022 Conference call

Dr Lars Brzoska (Chairman of the Board of Management) Dr Volker Hues (Member of the Board of Management, Finance) Hamburg, 12 August 2022

H1 2022 at a glance

Business development in line with expectations in the face of ongoing major challenges with material supply as well as significant material and logistics cost increases

Continued high levels of uncertainty about the impact of the Russia-Ukraine war on the European and global economies

Revenue of €2,202 million, up 11% compared to the previous year

Robust EBIT development of €162 million (previous year: €169 million), EBIT-ROS: 7.4% (previous year: 8.5%)

Strong increase in working capital, especially due to inventory build-up to ensure ability to deliver and finished sales products, negatively impacts free cash flow of €-270 million with €237 million

Forecast for 2022 confirmed despite ongoing great challenges

Incoming orders improve slightly over previous year

Good revenue growth defies limited availability of production materials

Robust result despite unfavourable conditions

Includes net income of €5 million from the transitional consolidation of JT Energy Systems in Q2 2022

Significant increases in material and logistics costs have negative impact on profitability

Continuing restrained investment policy; increased R&D expenditure, in part due to arculus

development expenditure and right-of-use assets

Research and development expenditure in € million

• Reporting period contains R&D expenditure for arculus (acquired Q4 2021)
• R&D workforce increases to an average of 810 FTE due to implementation of Strategy 2025+ (previous year: 640) 1) Property, plant and equipment and intangible assets without capitalised

ROCE reflects necessary increase in working capital

Strong increase in working capital, especially due to inventory build-up to ensure ability to deliver and finished sales products

1) EBIT for the Intralogistics segment in % of the segment's average capital employed

Inventory build-up to ensure ability to deliver reduces free cash flow

• Strong increase in working capital negatively impacts free cash flow of €-270 million with €237 million
• Furthermore, the addition of trucks for short-term rental and trucks for lease also has a negative effect 12/08/2022 H1 2022 conference call 8
• In addition to investments in expansion and replacements, payment for acquisition of sales partner in New Zealand included

Free cash flow introduced as new key performance indicator

Targeted expansion of Jungheinrich workforce due to implementation of Strategy 2025+

Abroad Germany

11,108 11,360 7,995 8,040 31/12/2021 30/06/2022 Employees in the Group in full-time equivalents1) 19,103 19,400 +297 +1.6%

• Expansion primarily in the sales organisation
• JT Energy Systems leaves scope of fully consolidated companies (-87 FTE)
• Number of temporary workers increased from 606 to 659

1) Employees including trainees and apprentices, excluding temporary workers

Forecast for 2022 confirmed, free cash flow introduced as new key performance indicator

Forecast 2022	March 2022	Actual 2021
in € billion Incoming orders	Slightly < previous year	4.9
in € billion Revenue	Slightly > previous year	4.2
in € million EBIT	Significantly < previous year	360
EBIT ROS in %	Significantly < previous year	8.5
in € million EBT	Significantly < previous year	349
EBT ROS in %	Significantly < previous year	8.2
in % ROCE	Significantly < previous year	20.2
cash flow in € million Free	Significantly negative	89

• Overall forecast unchanged despite great economic uncertainty about the effects of the war on supply chains and energy, raw material and material prices; increased risk of potential gas shortages
• Ongoing great uncertainty regarding the impact of the coronavirus pandemic on business development
• Material costs planned to continue at a very high level
• No widespread production standstills expected and supply chains assumed to remain largely intact

Disclaimer

The explanations in this presentation are 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.

There is considerable uncertainty for the remainder of 2022, especially as a result of the Russia-Ukraine war, as it is currently not possible to foresee the extent of the potential negative direct and indirect impact on the company, particularly in terms of global procurement and sales activities. Uncertainties that lie beyond the company's control also include changes in the overall economic situation, including impacts from the further course of the coronavirus pandemic, 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.

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 nor do we accept any obligation to update forward-looking statements.