Jungheinrich AG

Investor Presentation • Dec 4, 2015

Growing with Passion

Investor Relations Presentation

November 2015

Content

• Jungheinrich at a Glance
• World Material Handling Equipment Market
• Business Model
• Business Development in Q1-Q3 2015
• Strategic Issues and Outlook
• Appendix

Jungheinrich at a Glance

Jungheinrich at a Glance

Character and norms of an independent, family owned company	Key figures			Consolidated net sales split by region
Leading intralogistics service & solution pro vider with manufact uring operations	in € million Incoming orders	2014 2,535	Change + 8%	Germany 26% Western
No. 2 in Europe No. 3 in the world	Sales	2,498	+ 9%	Europe 51% 9%
	EBIT	193	+ 12%	other countries 14%
Focus on direct sales	Net income	126	+18%	Eastern Europe
Single-brand strategy	Employees	12,549	+6%

Dividend

2012 figures adjusted due to the application of the amended version of IAS 19 and various changes in the accounting treatment of interest income and expenses.

5

World Material Handling Equipment Market

World Material Handling Equipment Market—Volume

in thousand units

Source: WITS und SIMHEM.

World Material Handling Equipment Market Breakdown of Volume by Region

Percentage of total market in terms of units

Source: WITS. and SIMHEM.

World Material Handling Equipment Market Breakdown of Volume by Product Segment

in terms of units

World Material Handling Equipment Market—Market Structure Comparison Broken Down by Product Segment in 2014 (2007)

in terms of units

Europe and China: Trend towards warehousing equipment; future growth potential for Jungheinrich

Source: WITS.

World League Ranking

2014 (2013) Net sales in million €, including currency effects

1 Fiscal year Source: company data. : April to March, adjusted: January to December.

Business Model

The Jungheinrich Business Model

New truck business

Development, production and sale of new forklifts including logistics systems and mail-order business

Short-term hire

Rental of new and used material handling equipment

Used equipment

Reconditioning and sale of used trucks

After-sales services Maintenance, repair and spare part business

Intralogistics Financial services

Usage transfer and sales financing of material handling and warehousing equipment

Breakdown of Net Sales: Intralogistics Segment 2014 by Business Fields

Business Fields: New Truck Business and After-Sales Services

New truck business

After-sales services

• Potential for after-sales services depends on market penetration!
• 5,900 employees in the global after-sales organization, thereof 4,200 after-sales service engineers

The Short-Term Hire and Used Equipment Business Field

Short-term hire

• Hire periods: generally 1 day to 24 months
• Targeted degree of capacity utilization 70% to 80%
• -Inventory: 2014 = 38.1 thousand trucks (+13% yoy)

Used equipment

• Marketing of used equipment (leasing, short-term hire fleet and trade-ins)
• Professional reconditioning of forklifts in the Dresden Used Equipment Centre (increase in capacity to 8,000 forklifts by the end of 2015)
• 2014: 5,100 reconditioned trucks

Divisions: Logistics Systems Business and Mail-Order Business

Logistics Systems Jungheinrich—Partner for End-to-End Logistics Solutions

Jungheinrich Acquires MIAS Group

• Jungheinrich reinforces its leading position as a provider of logistics systems.
• The Munich-based MIAS Group is an international mechanical engineering company active in the warehousing and transportation technology sectors, where it offers stacker cranes and load handling technology.
• MIAS Group key figures in 2014: net sales of approx. €40 million and over 300 employees.
• As part of the Jungheinrich Group, the MIAS Group will maintain an independent presence on the market under the MIAS brand name.

Acquisition of NTP Forklifts Australia

• Jungheinrich acquired a majority stake in NTP Forklifts Australia at the end of October.
• NTP ranks among the leading dealerships in the Australian material flow engineering sector.
• By making this strategically important acquisition, Jungheinrich is continuing to resolutely enlarge its global direct sales footprint.
• Business will be continued as a Jungheinrich Group company under the independent brand NTP Forklifts Australia.
• Headquartered in Adelaide, NTP Forklifts Australia has branch offices in all of Australia's major regions and employs more than 230 people.

Mail-Order Business—in Germany, Austria and in the Netherlands

Deliveries by Industry

Based on incoming orders in terms of units in 2014.

Financial Services—Principles and Objectives

Business policy	 Service function for Jungheinrich sales division  Substantial financial services profits are stated in sales division New truck business/after-sales services/used equipment
Sales policy	 Promotion and expansion of new truck business and after-sales services Principle: Every financial service agreement to cover full service and maintenance  Permanent customer retention Flexible, customized contracts
Risk management	 Matching refinancing (term and interest)  Regular creditworthiness checks  Quarterly assessment of contractual/residual value risks  Transparency and process reliability via Group database

Full disclosure on Jungheinrich's consolidated balance sheet

Business Development in Q1-Q3 2015

World Material Handling Equipment Q1-Q3 2015 Growth Rates by Region

in terms of units; compared to Q1-Q3 2014 Worldmarket

Source: WITS, SIMHEM 9/2015.

Incoming Orders

Of all business fields in million €

Slightly over 60% of the growth is attributable to new truck business

in thousand units 63.8 +13% 72.4

New truck business

Q1-Q3 2014 Q1-Q3 2015

All product segments (warehousing equipment as well as battery and IC engine-powered counterbalanced trucks) contribute to the strong rise

Production and Orders on hand—New Truck Business

in thousand units

Net Sales and Earnings

in million €

Consolidated net sales EBIT

• Net sales from new truck business +10%
• Net sales from short-term hire and used equipment +11%
• Net sales from after-sales services +8%
• Net sales outside Europe +23%, primarily due to increases in China and the USA

Earnings growth resulting from persistently positive developments across all business fields and large number of units produced

R&D and Capital Expenditures

in million €

Major Construction Projects

Working Capital and Net Debt

in million. €

1 Financial liabilities minus liquid assets and securities.

Financial Services

in milion €

Workforce Trend

In full-time equivalent (FTE), including apprentices, excluding temporay workers.

Germany Abroad 12/31/2014 09/30/2015 12,549 ■ Sales in Europe remain the focal point of the continued headcount expansion ■ Q3 2015: +259 Employees 6,911 7,384 5,638 5,853 13,1237 +688 (+ 5%)

The Jungheinrich Group's Growth Strategy

1 Internal combustion engine-powered counterbalanced trucks.

Basic Conditions and Risks

Economic outlook
Growth rate GDP in %	2014	Forecast 2015
World	3.2	2.9
Eurozone	0.9	1.5
Germany	1.6	1.8
China	7.3	6.8
USA	2.4	2.5

Source: Commerzbank October 2015.

Risks

• Economic risks in European countries
• Foreign exchange fluctuations
• Growth risk in China
• Other geopolitical risk factors

World Material Handling Equipment Market

in thousand units

We anticipate that the Western European market will grow. With the exception of Russia, this also applies to Eastern Europe. The Russian market is no longer expected to post a market improvement in Q4 2015.

In Asia—except China—we expect the market to continue posting solid growth, whereas in China, only the warehousing segment is likely to grow.

North Amerika

Source: WITS and SIMHEM, 2015 figures estimated.

Jungheinrich Group—Forecast for 2015 confirmed

Incoming orders €2.7 bn - €2.8 bn	Net sales €2.65 bn - €2.75 bn	EBIT €195 million - €205 million	EBT €180 million - €190 million
Capital expenditures in tangible assets €90 million - €100 million
Research and development expenditures ~ €50 million
ROCE	15% - 20%

Dividend policy: Payout ratio of 25% to 30% of net income

Disclaimer

Since developments cannot be foreseen, the actual business trend may deviate from the expectations presented here based on assumptions and estimates made by Jungheinrich company management. Factors that may lead to such deviations include changes in the economic environment, changes in the political and legal environment and within the material handling equipment sector as well as exchange and interest rate fluctuations. Therefore, no responsibility is taken for forward-looking statements made in this presentation and no ensuing liability is assumed.

Appendix

Plants and Portfolio of Products

	Germany				China
Products Plants	Norder stedt	Lüne burg	Moos burg	Degern point	Lands berg	Dresden	Qingpu
Low-lift trucks							
Stacker trucks							
Battery-powered counterbalanced trucks							
IC engine-powered counterbalanced trucks			
Reach trucks							
Order pickers				
High-rack stackers				
Tow tractors		
Small-series and customized trucks		
Control units, batteries and chargers	
Reconditioning of used equipment						

World League Ranking Competitors in 2014

sales in million €

1 Fiscal year April to March adjusted Jan. to Dec. 2014. 2 Fiscal year April to March.

Source: Logistik Journal October 2015, Comany data.

Incoming Orders

in million €

Change in accounting treatment as of 1/1/2013, figures for 2012 were adjusted to the change in the statement of interest income from financial services (finance lease customer contracts).

EBIT and EBIT ROS

EBIT-Return on Capital Employed (ROCE)

Interest-bearing capital excluding liabilities from financial services and provisions for pensions. Since 2012, interest-bearing capital includes provisions for pensions and provisions for non-current personnel obligations.

Research & Development

Capital Expenditures

in million €

Net Debt

in million € excl. liabilities from financial services and accrued liabilities for pensions

Tax Ratio

Net Income

General Information

WKN: 621 993

Financial Calendar Pro-forma figures for the 2015		Contact:
financial year Balance sheet press conference Analyst conference Interim report as of 03/31/2015 2016 Annual General Meeting Dividend payment Interim report as of 06/30/2015 Interim report as of 09/30/2015	03/03/2016 03/23/2016 03/24/2016 05/10/2016 05/24/2016 05/25/2016 08/09/2016 11/08/2016	Andrea Bleesen Head of Investor Relations Jungheinrich Aktiengesellschaft Friedrich-Ebert Damm 129 · 22047 Hamburg Telefon +49 40 6948-3407 Fax +49 40 6948-753407 andrea.bleesen@jungheinrich.de www.jungheinrich.com
Subscribed capital: 102 million € subdivided into 18 million non-par-value ordinary shares 16 million non-par-value preferred shares (listed)		Stock exchanges: Frankfurt and Hamburg and all other German stock exchanges
Securities identification numbers (Preferred shares): ISIN: DE0006219934	Ticker abbreviations: Reuters JUNG_p.de	Segment: Prime Standard Branch: Industry

Bloomberg JUN3 GR

Stock index: MDAX