Jungheinrich AG

Investor Presentation • May 26, 2020

IR Presentation Q1 2020

Hamburg, 26 May 2020

HIGHLIGHTS

BUSINESS DEVELOPMENT Q1 2020

STRATEGIC OUTLOOK

Jungheinrich at a glance

Jungheinrich key figures 2019

Regions and business fields

Business model

HIGHLIGHTS

BUSINESS DEVELOPMENT Q1 2020

STRATEGIC OUTLOOK

Highlights in first quarter of 2020

Q1 2020

► Jungheinrich has performed well in a difficult market.

► The value of incoming orders was on par with the previous year at over €1 billion in Q1 2020.

► Decent results were achieved in the first quarter of 2020 with revenue of €920 million and EBIT of €54 million.

► The influence of the COVID-19 pandemic on business development between January and March 2020 was not yet significant.

► The 2020 forecast was retracted due to the COVID-19 pandemic.

Global market for material handling equipment declines by 9%, European market shrinks by 5%

Worldwide

	Market volume in thousand units	Q1 2020	Q1 2019	Change %
	Europe	123	130	–5.4
	thereof Eastern Europe	21	22	–4.5
	Asia	143	173	–17.3
Europe	thereof China	97	124	–21.8
Asia	North America	59	56	5.4
North America	Other regions	21	23	–8.7
Other	World	346	382	–9.4

Class II and III market volumes declined less steeply than Class I/IV/V

Worldwide

Market volume in thousand units	Q1 2020	Q1 2019	Change %
Warehousing equipment	171	175	–2.3
thereof Class II	31	32	–3.1
thereof Class III	140	143	–2.1
Counterbalanced trucks	175	206	–15.0
thereof Class I	56	61	–8.2
thereof Class IV/V	119	145	–17.9
Total	346	382	–9.4

Table contains rounding differences

Class I	Battery-powered counterbalanced truck
Class II	Narrow-aisle and reach trucks
Class III	Low- and high-lift trucks and order pickers
Class IV/V	IC engine-powered counterbalanced trucks

Market volume in China sank considerably in Q1 2020 due to COVID-19 pandemic, Europe not as severely affected as yet

		2019 2020					2018	2019
EUROPE	 Q1	 Q2	 Q3	 Q4	 Q1		 FY	 FY
	–4.3%	–9.8%	–8.4%	–3.2%	–5.4%		+11.4%	–6.4%

2019					2020	2018	2019
CHINA	 Q1	 Q2	 Q3	 Q4	 Q1	 FY	 FY
	+11.1%	–4.5%	+4.2%	+26.9%	–21.8%	+15.2%	+8.5%

			2019	2020	2018	2019
North America	 Q1	 Q2	 Q3	 Q4	 Q1	 FY	 FY
	–22.1%	–9.0%	+1.9%	–0.8%	+5.4%	+3.9%	–7.8%

2019					2020	2018	2019
World	 Q1	 Q2	 Q3	 Q4	 Q1	 FY	 FY
	–2.6%	–7.6%	–2.4%	+5.1%	–9.4%	+10.3%	–2.0%

2018	2019
THE	$\mathbf{\Psi}$ FY
$+11.4%$	$-6.4%$

2018	2019
THEY	T FY
$+15.2%$	$+8.5%$

2018	2019
T FY	V FY
$+3.9%$	$-7.8%$

2018	2019
THE	$\mathbf{\Psi}$ FY
$+10.3%$	$-2.0%$

Business development in first quarter of 2020

Earnings in first quarter of 2020

Profit or loss, in € million Earnings per preferred share, in €

2020 forecast retracted due to COVID-19 pandemic

2020

• ► In light of the widespread uncertainties surrounding the future consequences of the COVID-19 pandemic on global economic development means reliable estimates cannot currently be made about Jungheinrich's business development over the remainder of the year.
• ► Since the publication of the forecast report (18 March 2020), uncertainty with regard to the expected impact of the pandemic has increased considerably.
• ► Since the beginning of April, all regions and product segments have seen significant decrease in demand, which will lead to a significant drop in incoming orders.
• ► This will lead to a corresponding drop in revenue over the course of the year.
• ► The forecast will be updated as soon as global containment efforts cause the pandemic to slow down and the impact on the further business development of Jungheinrich over the rest of 2020 becomes reliably quantifiable.

Coronavirus – Jungheinrich's status – Protecting employees and customers and safeguarding our delivery capability are our highest priorities

► With the highest priority, Jungheinrich implemented numerous measures to protect its employees and customers, as well as company processes.

• ► Production at all Jungheinrich plants has been adapted and is currently running at an appropriate level and supply chains are largely intact.
• ► The other locations of the Group are also running to the extent allowed by the particular local governmental regulations, with no greater restrictions.
• ► After-sales service technicians are active all over the world to the extent that this is possible under local conditions.
• ► Jungheinrich has a solid liquidity reserve and a healthy structure based on the statement of financial position.

HIGHLIGHTS

BUSINESS DEVELOPMENT Q1 2020

STRATEGIC OUTLOOK

Highly Dynamic and Volatile Markets Global Trends

Digitalisation plays an essential role in relation to the transformation processes and competitiveness of all companies

Disruptive technologies offer new opportunities e.g. intelligent interconnectivity and automation

An increasing sustainability awareness drives topics such as electrification and leads to stricter regulations

Urbanisation and e-commerce are driving micro-fulfilment growth

Increase in trade conflicts and protectionism

Sources: BCG Forecast (2017/2020) Electrification, Fraunhofer ISI (2015) Product Roadmap Lithium-ion Batteries 2030, Interact Analysis (2019), McKinsey Report (2018) Disruptive Forces in the industrial sectors

Electric Power as Tradition and Future

The Future Is Yellow

Jungheinrich's Top Strategic Guiding Principles Clear Direction for the Future

Jungheinrich generates, with all internal and external business activities, an added value for the end customer

Jungheinrich radically and sustainably reduces waste along the entire process chain (end-to-end)

Jungheinrich invests in future technologies as an innovation leader

Jungheinrich manifests its position as the industry leader for sustainable solutions

Jungheinrich develops new business models based on existing strengths and/or customer requirements

Jungheinrich places increased emphasis on strategic partnerships and acquisitions as success factors xxxxxxx

Jungheinrich Creates Sustainable Value for all Stakeholders Strategic Outlook

Jungheinrich Focusses on Topics in Line with Global Trends Group Priorities

Multiple Areas of Action within Group Priorities

Digitalization

• Digital products
• Digital business models
• e-Commerce
• IT Factory

Automation

• Automated Guided Vehicles (AGV)
• Automated Warehouses (AS/RS)

Energy Systems

• Lithium-Ion technology
• Energy Solutions for material handling equipment
• Electrification of industrial machines

Sustainability

• Environment & Energy
• Transparency & responsibility in the supply chain
• Economic responsibility
• Secure & good jobs
• Environmentally friendly & safe products

program (4JU)

excellence technology (N-Ex-T)

Digital end-to-

(DEEP)

end processes

Efficiency

Network

Global Footprint

• Europe
• China
• North America

22

Disclaimer

Unforeseeable developments may cause the actual business trend to differ from expectations, assumptions and estimates of the management of Jungheinrich that are reproduced in this 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 rate and interest rates. No responsibility is therefore taken for the forward-looking statements in this presentation.

NOTES

Market volume for material handling equipment 2015 to 2019 in thousand units

Global ranking of material handling equipment: Jungheinrich among Top 3 worldwide

Group revenue 2018, in € billion

Jungheinrich key data (I)

in € million	2015	2016	2017	2018	2019
Incoming orders	2,817	3,220	3,560	3,971	3,922
Group revenue	2,754	3,085	3,435	3,796	4,073
thereof Germany	701	753	851	900	966
thereof abroad	2,053	2,332	2,584	2,896	3,107
EBIT	213	235	259	275	263
EBIT ROS	7.7%	7.6%	7.5%	7.2%	6.4%
Capital employed1	1,187	1,318	1,497	1,717	1,917
ROCE2	17.9%	17.8%	17.3%	16.0	13.7*
R&D expenditure	55	62	77	84	86
Capital expenditure3)	87	59	88	106	157

*Calculated due to accounting changes from 01/01/2019 (IFRS 16 "Leases") (prior-year figures not adjusted)

1) Shareholders' equity + Financial liabilities – Cash and cash equivalents and securities + Provisions for pensions and long-term personnel obligations

2) EBIT / Employed interest-bearing capital x 100

3) Property, plant and equipment, and intangible assets excluding capitalised development expenses and right-of-use assets ²⁸

Jungheinrich key data (II)

in € million	2015	2016	2017	2018	2019
Equity ratio (Intralogistics)	48%	48%	48%	46%	46%
Equity ratio (Group)	31%	31%	30%	29%	28%
Net debt1)	–75	–56	7	108	172*
Tax ratio	31%	28%	25%	29%	27%
Profit or loss	138	154	182	176	177
Employees (FTE3)	13,962	15,010	16,248	17,877	18,381
thereof Germany	6,078	6,511	6,962	7,378	7,635
thereof abroad	7,884	8,499	9,286	10,499	10,746
Dividend per preferred share	€0.402)	€0.44	€0.50	€0.50	€0.48 (proposal)

*Calculated due to accounting changes from 01/01/2019 (IFRS 16 "Leases") (prior-year figures not adjusted)

1) Net debt = Financial liabilities – cash and cash equivalents and securities

2) Figures adjusted retroactively due to the 1:3 stock split implemented on 22 June 2016

3) in full-time equivalents 29

Broad customer base

Jungheinrich share: Broad coverage

Key figures for the share	2015*	2016	2017	2018	2019
Earnings per preferred share	€1.36	€1.52	€1.80	€1.73	€1.75
Dividend per preferred share	€0.40	€0.44	€0.50	€0.50	€0.48**
Dividend payout	€39 million	€44 million	€50 million	€50 million	€48 million
Distribution ratio	28%	29%	28%	28%	27%

* Figures adjusted retroactively due to the 1:3 stock split implemented on 22 June 2016.

** Proposal

Financial calendar

Date	Event
18/03/2020	Balance sheet press conference
18/03/2020	Phone conference FY2019
08/05/2020	Interim statement as of 31/03/2020
11/08/2020	Interim report as of 30/06/2020
10/11/2020	Interim statement as of 30/09/2020
to be announced	2020 Annual General Meeting
	Dividend payment

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 and Hamburg and all other German stock exchanges

Segment: Sector: Stock index: Prime Standard Industry SDAX

Ticker: Reuters JUNG_p.de Bloomberg JUN3 GR

Contact

Andrea Bleesen Head of Investor Relations Jungheinrich Aktiengesellschaft Friedrich-Ebert-Damm 129 · 22047 Hamburg Tel +49 40 6948-3407 · Fax +49 40 6948-753407 andrea.bleesen@jungheinrich.de · www.jungheinrich.com