Jungheinrich AG

Investor Presentation • Mar 24, 2016

Growing with Passion

Analyst Conference

Hans-Georg Frey, Chairman of the Board of Management Dr. Volker Hues, Member of the Board of Management, Finance Frankfurt, March 24, 2016

Content

• Jungheinrich at a Glance
• World Material Handling Equipment Market
• Business Model
• Business Development in 2015 and current Business Trend
• Strategic Issues and Outlook

Jungheinrich at a Glance

• Independent, family-owned company
• Leading intralogistics service & solution provider with manufacturing operations
• No. 2 in Europe, No. 3 in the world
• Focus on direct sales
• Single-brand strategy

Highlights 2015

1.	Fiscal 2015 was an extremely successful year at Jungheinrich
2.	All-time highs in incoming orders, net sales, EBIT and EBT—ambitious full-year forecast exceeded
3.	Production volume surpasses 90,000-unit mark for the first time
4.	Direct sales and service network as well as logistics systems business expanded via acquisitions
5.	European and world market share increased
6.	Dividend rises 14% to €1.19 per preferred share

Achievements in 2015 (1)

Core business: Europa	European market share increased from 20.7% to 21.5%
	Company founded through the acquisition of the dealership business in Romania
APAC	Acquisition of the dealership business in Malaysia and of NTP Forklifts Australia
	Contract for the establishment of a joint venture (50:50) with Anhui Heli Co. Ltd. (Heli), Hefei, China, for material handling equipment rentals on the Chinese market
Logistics sys tems business	Acquisition of the stacker crane specialist MIAS Group

Achievements in 2015 (2)

ICs1	European market share increased from 7% to just under 8%
Mail order business	Mail-order net sales lifted to €57 million
Other highlights	Large-scale construction projects completed on time and in line with budgets
	Short-term hire fleet significantly expanded once again (nearly 48,000 units2)
	Company established in connection with the acquisition of the dealership business in South Africa

1 IC (internal combustion) engine-powered counterbalanced trucks. 2 Cut-off date.

Jungheinrich Group—2015 Forecast Exceeded

	Forecast	FY 2015
Incoming Orders	€2.7 bn - €2.8 bn	€2,817 million	
Net sales	€2.65 bn - €2.75 bn	€2,754 million	
EBIT	€190 million - €205 million	€213 million	
EBIT ROS	>7.0%	7.7%	
EBT	€180 million - €190 million	€198 million	
EBT ROS	>6.0%	7.2%	

Dividend

Share price development

World Material Handling Equipment Market

World Material Handling Equipment Market—Volume

Incoming orders in thousand units

191 277 411 219 444 345 235 414 373 Worldwide 2014 2015 Europe Asia North America 2007 2015 2014 951 2007 1,094 +9% +11% +9% 2007 2015 2014 2007 2015 2014 thereof Easterneurope -7.2% thereof Easterneurope -0.4% 1,100 +8% -7% +7% +0.5% thereof China -12.8% thereof China +10.2%

Source: WITS, SIMHEM.

World Material Handling Equipment Market Breakdown of Volume by Region

based on incoming orders in units

Source: WITS, SIMHEM.

World Material Handling Equipment Market Breakdown of Volume by Product Segment

based on incoming orders in units

Source: WITS,SIMHEM.

World Material Handling Equipment Market—Market Structure Comparison Broken Down by Product Segment in 2015 (2007)

based on incoming orders in units

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

Source: WITS.

Development of the Material Handling Equipment Markets of Importance to Jungheinrich

1 Solely due to the shrinkage of the counterbalanced truck market (in particular ICs), not of the warehousing equipment market.

2 2007 pre-crisis level not achieved yet.

16

Business Model

The Jungheinrich Business Model

s e c vi r e s al ci n a n Fi	New truck business	 Development, production and sale of new forklifts including logistics systems and mail-order business, focus on direct sales
	Short-term hire	 Hire periods: generally 1 day to 24 months  Targeted degree of capacity utilization 70% to 80%  ∅-Inventory 2015 = 44.5 thousand trucks (+17% yoy)
	Used equipment	 Marketing of used equipment (leasing, short-term hire and trade-ins)  Professional reconditioning of forklifts in the Dresden Used Equipment Centre  2015: 4,800 reconditioned trucks
	After-sales service	6,200 employees in ■ the global after sales organization, thereof 4,300 after sales service engineers

Divisions: Logistics Systems Business and Mail-Order Business

Jungheinrich Fortifies Position as Leading Logistics Systems Provider via Acquisition of MIAS Group

• Acquisition of Munich-based MIAS Group as of October 1, 2015
• Company with international operations in the field of warehousing and transportation technology, specifically stacker cranes and load-handling equipment
• Production sites: Germany, Hungary & China

Continued Expansion of Direct Sales

• Acquisition of the dealership business in Malaysia (April 2015)
• Acquisition of Adelaide-based NTP Forklifts Australia (November 2015)
• Establishment of companies in connection with the acquisition of the dealership activities in South Africa and Romania (Q4 2015)

Business Development in 2015 and current Business Trend

Incoming Orders

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

• Includes a major order in the 'Logistics Systems' Division (in mid-range, double-digit million euro territory)

• Rise in demand in Europe

• Significant increase in truck orders for the short-term hire fleet
• European and world market share increased

Production and Orders on hand—New Truck Business

Net Sales

Eastern Europe

Share of total net sales generated outside Europe rises by 2 pct. points

Earnings in million €

• Earnings growth driven by high unit production figures and relentlessly positive development in all business fields as well as in the Financial Services segment
• The figure for 2014 included the positive effect of the adjustment to the pension plan (€6.7 million)

Net income

R&D and Capital Expenditures

in million €

R&D Expenditures Capital Expenditures

R&D expenditures hit yet another record high

• Focal points in 2014 and 2015:
• Construction of training centre at Norderstedt plant
• Modernization of production facilities at Moosburg plant
• Expansion of Dresden Used Equipment Centre
• Construction of new corporate HQ in Hamburg
• All construction projects completed on schedule and within budgets (Moosburg in mid-2016)

Cash Flows

in million €

Cash flows from operating activities

Cash flows from operating activities significantly affected by net income and depreciation

Cash flows from investing activities

Changes due to cash outflows for the acquisitions of MIAS, NTP and the dealership businesses South Africa and in Malaysia

Net Debt

Net debt: Financial liabilities ./. liquid assets and securities (in million €)

Decline largely due to the acquisitions of MIAS and NTP as well as the significant expansion of the short-term hire fleet

Working Capital and ROCE

in million. €

1 ROCE: EBIT / capital employed (cut-off date).

Capital employed: shareholder's equity + financial liabilities + provisions for pensions and similar obligations + long-term personnel provisions ./: liquid assets and securities.

Shareholders' Equity and Equity Ratio

Shareholders' equity in million €

In 2015, shareholders' equity reflected the positive, €18 million post-tax effect of the valuation of pension plans (previous year: negative effect of €27 million)

Financial Services—Highlights

• NTP financial services company added in Australia
• 39% of new trucks sold via financial service agreements (previous year: 36%)

Workforce Trend

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

World Material Handling Equipment Market as of February 2016 Growth Rates by Region Worldmarket

based on incoming orders in units; compared to Jan.-Feb. 2015

Source: WITS, SIMHEM 2/2016.

Current Business Trend—February 2016

Orders on Hand—New Truck Business

in million €

The order reach was nearly five months

The Jungheinrich Group's Growth Strategy

World Material Equipment Market—Expected Development in 2016

Incoming orders in thousand units

World

Europe

2015	+8%	thereof Eastern Europe -7.2% 373
2014		thereof Eastern Europe -0.4% 345
2007		411

277 444 414 Asia -7% 2007 2015 2014 thereof China -12.8% thereof China +10.8%

191 219 235 North America 2007 2015 2014 +7%

Source: WITS,SIMHEM.

• Slight increase in world market volume.
• Market volume in Western and Eastern Europe is currently expected to display positive development.
• We anticipate that the markets in Asia expand marginally, driven by the warehousing equipment and battery-powered counterbalanced truck segments.
• For the North American market we expect a stable development.

Jungheinrich Group—Forecast for 2016

Jungheinrich Group—on Track for 2020

Jungheinrich Group—Forecast for 2016

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.