Jungheinrich AG

Investor Presentation • Nov 25, 2020

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Dr Lars Brzoska, CE Dr Volker Hues, CFO 25 November 2020

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STARTING POSITION

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Global trends are changing intralogistics

Sustainability awareness Pushing trends such as electrification, carbon neutrality and leading to stricter requlations

Digitalisation Plays an essential role in transformation processes and for the competitiveness of all companies

Globalisation Leads to an intensified competitive landscape and market consolidation

Disruptive Technologies offer new opportunities e.g. in electric mobility, connectivity & automation

Market development expected above GDP growth

Trucks

(market volume in units)

2025

트

• Expected CAGR 5-6 %
• Strong trend towards electric trucks
• Increase class 3
• Decline class 4

Automated systems & warehouse equipment (market volume in €)

Expected CAGR 7-10%

• Strong trend towards automation
• Double-digit growth rates expected for AGV

ASRS	Automated storage and retrieval systems
AGV	Automated quided vehicles
WE	Warehousing equipment & racking

• Class 1 Battery-powered counterbalanced trucks
• Class 2 Narrow-aisle and reach trucks
• Class 3 Low-lift and stacker trucks and order pickers
• IC engine-powered counterbalanced trucks Class 4

Source: WITS Statistics / Jungheinrich estimate

We are well positioned & have defined potential for improvement

• Extensive direct sales & after sales network
• Strong market position in Europe, especially in the warehouse technology product segment
• Integrated business model
• High innovative ability in energy systems and leading market position in lithiumion technology in Europe
• Innovative provider of rental solutions
• Strong balance sheet

• Return & cash flow
• Product & solution portfolio
• = Process efficiency
• = Global footprint

STRATEGY 2025+

JUNGHEINRICH MISSION

BORN ELECTRIC

MOVING THE FUTURE

CREATING SUSTAINABLE VALUE

Strategy 2025+: The strategy house

Our core objective: Creating sustainable value

Increase the Group value through sustainable, profitable growth

Visionary solutions that create added value and differentiation

Best employer and reliable business partner

2025. Our targets

• " Revenue > €5 billion incl. M&A
• = Revenue > €4.6 billion organic growth / CAGR > 5% V/2012
• = Share of revenue outside Europe > 20%
• = EBIT ROS > 8%
• = EBT ROS > 7.5%
• = Operating cash flow ROS 8-10%
• = Lithium-ion equipment rate > 70%
• = Employee productivity (EBT/employee) > €17,500
• = Ratio of female executives ===> 20%

CREATING SUSTANNERS:

Employees & Business Partners

Implementation of strategic measures secured

Planned R&D and capex spending to support strategic objectives

R&D expenditure (in % of revenue)

Capital expenditure (in % of revenue)

Our central fields of action

Automation

Digitalisation

Energy systems

Efficiency

Global footprint

Sustainability

Automation

Automation is at the centre of our future growth

• Expansion of automation portfolio AGV, ASRS, software and robotics through a mix of in-house development and acquisition/partnerships, e.g. Magazino
• Establishment of a qlobally active organisation for sales, realisation and after-sales in Europe, China, North America
• Entry into new markets and customer segments
• Investments in software solutions, cooperation with partner companies and new business models

Automation

Selected highlights for leading automation solutions

• warehouse for pallets
• Miniload shuttle warehouse with 40,000 rack storage locations
• = Latest conveyor systems including control and visualisation

• Use of AGVs for sheet metal production in interconnected factory
• Manufacturing machines and AGVs communicate directly
• Specialised interfaces and new software solutions

• AGVs for direct loading of milling machines
• ▪
• Jointly developed handling system for special pallets

Digitalisation enables new products and business models

• Increasing number of successfully realized projects
  • Digital fleet management > 111,000 trucks today > 230,000 in 2025
  • Logistics interface > 1,200 projects with > 3,500 real-time connected trucks today
• Writing the next chapter of the digital warehouse
  • Warehouse management and material flow systems
  • Fleet/battery management systems
  • Security & assistance systems

Digitalisation enables new products and business models

• Investments in new digital products and projects, e.g. Globus, e-rentals via app
• Use of artificial intelligence and biq data for new business models, e.g.
  • optimisation of contractual terms/fleets
  • predictive maintenance
  • pay-per-use l
• Increase e-commerce share of total revenue

Electric mobility is our core skill we are energy solutions leaders in the warehouse

• Further expansion of leading position in the industry through innovation focus on lithium-ion
• Expansion of the product portfolio of fully integrated lithium-ion battery trucks
• ▪
• Effective contribution to sustainability

Energy systems

JT Energy Systems

• ။ Centre of excellence for the development, production and recycling of energy systems
• Production area > 42,000 square metres
• Start of production Q4 2019

Holistic energy solutions

• Customer-specific solution concepts, e.g. for conversion of larger fleets
• Consulting from network of energy experts
• • New products, e.q. stationary enerqy storage or diqital load management solutions

Powertrain Solutions

• Electrification of construction and agricultural machinery
• Solution includes battery, battery charger, control unit and electric enqine
• Market potential Europe 2030 around €250 million (external studies, own estimate)

Our digital transformation makes processes and structures more efficient that's how we increase profitability

• Digital End-to-End Processes (DEEP)
  • Digital transformation programme to increase customer focus and efficiency
  • Lean, harmonised and automated processes
  • Development of a new IT architecture
• Network-Excellence-Technics (N-Ex-T)
  • Transformation project for implementing a modern organisational structure in our engineering division.
  • Process optimisation for increasing efficiency in plants as well as in purchasing, quality and development
• = 2025: EBT/employee > €17,500

After-sales services is a USP and a strong pillar of our profitability

• Strong development ■
  • revenue 2019 > €1 billion
  • = > 7,900 employees
• Expanding skills, e.g. with AGV and ASRS enqineers
• Use of artificial intelligence and big data, e.g. predictive maintenance
• 2025: share of revenue 27-30%

We think globally and act locally

• Special focus on Europe, China and North America
• Investments in targeted acquisitions and strategic partnerships
• Increase in share of international executives
• 2025: Increase in revenue outside Europe to > 20%

As part of a global society, we are aware of our responsibility and contribute to sustainable development

• Entrepreneurial sustainability at the core. Growth and value creation across three dimensions: economy, environment & society
• Creating sustainable added value for all: Customers, employees, shareholders, partners and society
• Fulfilment of increasing societal demands for sustainable solutions as part of our entrepreneurial identity

Sustainability is part of our DNA and fundamental to our activities

• Integration of systematic sustainability management
• Increase in supply chain transparency and responsibility
• Investment in the refurbishment of vehicles and battery systems
• 2025: Lithium-ion equipment rate > 70%
• Goal: Carbon neutrality

Summary: Creating sustainable value

PROFITABLETY

Margin focus - Cash is king - Dividend continuity

EFFICTENCY

Customer centricity - Lean processes - Easy to deal with

SUCHARDED ABORAL CONSULTION OF CONSULTION OF CONSULTION OF CONSULTION OF CONSULTION OF CONSULTION OF CONSULTION OF CONSULTION OF CONSULTION OF CONSULTION OF CONSULTION OF CHI

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

DISCLAIMER

This document and the statements made during the presentation reflect the company's plans for 2025. They are mainly based on the company's own estimates and expectations regarding the further development of the markets and trends in the intralogistics industry. Developments that cannot be foreseen today because they lie so far in the future may lead to the actual market course, the development of intralogistics technologies or the Junqheinrich Group's business trend being different from the expectations, assumptions and assessments of Jungheinrich company management reflected in this written and oral presentation. Factors that may lead to such deviations include changes in the economic environment, including the consequences of the further development of the COVID-19 pandemic, within the material handling equipment sector, as well as changes to exchange rates and interest rates. Therefore, no quarantee is given for the forward-looking statements in this presentation.