Virtual Analyst Conference for the 2022 financial year

Dr Lars Brzoska (Chairman of the Board of Management) Dr Volker Hues (Member of the Board of Management, Finance) Hamburg, 31 March 2023

2022 financial year: Jungheinrich proves successful and resilient

Strong Q4 2022 leads to excellent overall performance

	Q4 2021	Q4 2022	Change %
Incoming orders in € million	1,287	1,197	–7.0
Revenue in € million	1,220	1,366	12.0
EBIT in € million	101.2	120.1	18.7
EBIT ROS in %	8.3	8.8	–
EBT in € million	99.5	112.8	13.4
EBT ROS in %	8.2	8.3	–

▪ Incoming orders weaker than Q4 2021, but trend is positive and slightly stronger than Q2 and Q3 2022

▪ EBIT ROS above Q4 2021 and stronger than the previous quarters in 2022

▪ EBIT ROS also slightly over the same quarter last year, despite negative impacts resulting from currency and capital market effects

2022 forecast achieved, slightly exceeded for EBIT, EBIT ROS and EBT

	Actual 2022	Forecast 09/20221)
Incoming orders in € billion	4.79	4.6 to 4.9
Revenue in € billion	4.76	4.6 to 4.8
EBIT in € million	386	340 to 380
EBIT ROS in %	8.1	7.2 to 8.0
EBT in € million	347	305 to 345
EBT ROS in %	7.3	6.5 to 7.3
ROCE in %	16.3	14.0 to 17.0
Free cash flow in € million	– 239	Significantly negative

1) Ad-hoc announcement as of 23 September 2022 as well as interim statement as of 30 September 2022

2022 Highlights Key figures for 2022 Outlook for 2023

New key targets added for Strategy 2025+

Acquisition of Storage Solutions underpins Strategy 2025+

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

Established company with highly profitable and fast revenue growth and a strong regional presence

Expansion of our global footprint and strategic platform for further growth in the USA

Attractive range of services for European-based Jungheinrich customers and American customers in Europe

Significant increase in share of revenue generated outside Europe

The transaction at a glance

Purchase price of USD 375 million and flexible, performance-related components
Positive effect on profit per share, free cash flow per share and EBIT margin1)
Closed on 15 March 2023
1) EBIT excluding goodwill amortization and one-offs for transaction costs

Ambitious sustainability targets

Contribute to climate neutrality

Net-zero greenhouse gas emissions in Scope 1 & 2 by 2030

Reduce resource & energy consumption 0% landfill waste from German plants by 2025

Sustainable products & solutions for intralogistics

Boost revenue with sustainable products in line with the EU Taxonomy Regulation

Promote the health & safety of our employees

Improvement of the lost time injury rate (LTIR) to 12.5 by 2025

Transparent & sustainable procurement

80% of globally relevant procurement volume from sustainable suppliers by 2025

Top ratings as proof of our sustainability performance EcoVadis/CDP/MSCI ESG Ratings/ISS ESG

2022 Highlights Key figures for 2022 Outlook for 2023

Sustainability milestones achieved in 2022

New plant in Romania: expands reconditioning capacity for used trucks.

Market launch: CO2e-neutral after sales service in pilot countries

Sustainable procurement expanded in line with Act on Corporate Due Dilligence in Supply Chains (LkSG)

~ 100% of vehicles produced battery powered

Internal Human Rights Council established

Comprehensive greenhouse gas balance drawn up across all scopes in accordance with Greenhouse Gas Protocol

Lithium-ion trucks (POWERLiNE) designed to be CO2e-neutral until arrival at the customer

External quality audits for 2022 & 2023 implemented for Corporate Compliance, Audit & Data Protection

Incoming orders and orders on hand remain at high levels

▪ Very high number of orders on hand due to restricted availability of production materials for further processing

▪ Incoming orders and orders on hand 2022 adjusted for orders from Russia and Belarus

Strong revenue growth despite material supply issues

in € million	2021	2022	Change %
New truck business	2,422	2,858	18.0
Short-term rental and used equipment	639	710	11.1
After-sales services	1,190	1,310	10.1
Intralogistics segment	4,251	4,878	14.7
Financial Services segment	1,132	1,131	–0.1
Reconciliation	–1,143	–1,245	8.9
Jungheinrich Group	4,240	4,763	12.3

Higher revenues for new trucks
Very strong growth in automated systems business
Increased demand for trucks for short-term rental
After-sales services business share of 28%

Strong position in Europe, balanced and resilient customer structure

▪ Strong revenue growth in the Asia-Pacific region and South America

Figures for previous year shown in brackets 1) Customer structure based on incoming orders (units)

New record set for EBIT

Appropriate measures to secure margins drive gross profit; burdening factors: materials and logistics costs
EBIT for 2022 includes positive one-off amounts totalling €11 million (transitional consolidation of JTES, sale of land)

Profit or loss on a par with previous year

Germany, and lower tax rates there

1) Based on share of profit attributable to the shareholders of Jungheinrich AG

Capital expenditure remains on a par with previous year's level

▪ Continued restrained investments in expansion and replacements ▪ Includes first instalment for new plant in Czech Republic

▪ Further development of efficient energy storage systems based on lithium-ion technology, development of mobile robots, optimisation of automated systems

1) Property, plant and equipment and intangible assets without capitalised development expenditure and right-of-use assets

Necessary build up of inventories reduces free cash flow

31/03/2023 Virtual Analyst Conference

Sharp increase in working capital and expansion of short-term rental fleet reduce ROCE

▪ Significantly higher capital employed due to increase in working capital (increasing inventories, finished products and trade accounts receivable) as well as to the addition of trucks for short-term rental to fixed assets

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

Financial services ensure long-term customer loyalty

Number of employees reaches approximately 20,000

▪ 43% of the workforce is in after-sales services

1) Employees, including trainees and apprentices, excluding temporary workers

Outlook for 2023 is marked by uncertainty

	RISKS	OPPORTUNITIES
	Availability of materials and stability in supply chain	Automation and digitalisation
	Russia-Ukraine war	Globalisation and reversals of trends
	Rising interest rates and inflation	Sustainability
	Geopolitical changes and conflicts	Disruptive technologies
	Banking crisis	E-commerce

GDP1) in %	2022	2023 forecast
World	3.4	2.9
USA	2.0	1.4
China	3.0	5.2
Eurozone	3.5	0.7
Germany	1.9	0.1

1) Source: International Monetary Fund, 30 January 2023

2023 forecast

	Actual 2022	2023 forecast
Incoming orders in € billion	4.8	4.8 to 5.2
Revenue in € billion	4.8	4.9 to 5.3
EBIT in € million	386	350 to 400
EBIT ROS in %	8.1	7.3 to 8.1
EBT in € million	347	325 to 375
EBT ROS in %	7.3	6.6 to 7.4
ROCE in %	16.3	13.0 to 16.0
Free cash flow in € million	–239	significantly better, but still negative

ASSUMPTIONS

Storage Solutions taken into account on a pro-rata basis
Supply chains remain intact, with no widespread production standstills
Increasing production costs, among other things due to rising energy prices
Rise in personnel numbers as part of strategy implementation
Russia-Ukraine war does not spread
Banking crisis does not spread

Our central target: Creating sustainable value

PROFITABILITY

Margin focus | Cash is king | Dividend continuity

EFFICIENCY

Customer centricity | Lean processes | Easy to deal with

SUSTAINABILITY

Creating value for all | Deep entrepreneurial anchorage | Contribution to society

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.

This includes changes in the overall economic situation, including impacts from geopolitical conflicts, debt issues, 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.

Q & A

2023 financial calendar and IR contact

IR contact

Date	Events
31/03/2023	Balance sheet press conference (virtual)
31/03/2023	Analyst conference (virtual)
08/05/2023	Interim statement as of 31/03/2023
11/05/2023	Annual General Meeting (virtual)
16/05/2023	Dividend payment
10/08/2023	Interim report as of 30/06/2023
10/11/2023	Interim statement as of 30/09/2023

Andrea Bleesen Head of Corporate Investor Relations

Jungheinrich Aktiengesellschaft Friedrich-Ebert-Damm 129 22047 Hamburg Germany Tel.: +49 (0)40 6948 3407 [email protected] www.jungheinrich.com

General information

Subscribed capital: €102 million subdivided 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

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