Manitou Group — Earnings Release 2021

Oct 21, 2021

Manitou Group: Q3 2021 Sales Revenues

• ● Q3 21 revenues of €432m, +10% vs. Q3 20
• ● Cumulative 9-month sales of €1,402m, +22% vs. 9-month sales 20, +23% like for like*
• ● Q3 21 order intake on equipment of €856m vs. €301m in Q3 20
• ● End of Q3 21 order book on equipment at €2,295m vs. €544m in Q3 20, new record
• ● Outlook for annual revenue growth in 2021 of around 15% compared to 2020
• ● Expected annual growth in the current operating income rate of around 130 basis points compared to 2020

/Ancenis, ²¹ October ²⁰²¹ – Michel Denis, President and Chief Executive Officer, stated: "In the third quarter,

the group achieved a 10% increase in turnover compared to Q3 2020. The record order intake momentum we have been experiencing for the past year has been maintained. It concerns all our geographies and markets and projects our backlog at the end of September to a historic level of €2.3 billion.

Over the third quarter, sales were delivered in a context of increased pressure on component availability. Like all manufacturing sectors, the extent of disruptions has worsened significantly in recent weeks. This deteriorated context has led us to adjust our revenue forecast for 2021 to growth of around 15% compared to 2020. In addition, the annual growth outlook for the current operating income rate is unchanged at around 130 basis points compared to 2020."

In million of euros	Quarter			9 months ending Sept. 30
	Q3 2020	Q3 2021	Var %	2020	2021	Var %
Product division	312	350	12%	932	1 153	24%
S&S	79	82	3%	221	248	12%
Total	391	432	10%	1 153	1 402	22%

Sales by division

Sales by region

In million of euros	Quarter			9 months ending Sept. 30
	Q3 2020	Q3 2021	Var %	2020	2021	Var %
Southern Europe	126	131	4%	400	444	11%
Northern Europe	159	181	14%	431	572	32%
Americas	69	79	14%	216	254	17%
APAM	37	41	10%	105	132	26%
Total	391	432	10%	1 153	1 402	22%

* like for like, at constant scope and exchange rate:

^- scope: there are no acquired or exiting companies in 2020 and 2021

^- application of the previous year's exchange rate to the current year's aggregates

/ Business review by division

With a third quarter sales of €350 million, the Product Division - (grouping of the former MHA and CEP divisions) recorded an increase of +12% compared to Q3 2020 and +24% over the first nine months of the year (or +25% at constant scope and exchange rates). The division is mobilising its teams on industrial fluidity. Investments in the energy transition have enabled the launch of the first electric rotating telehandler in the range.

With quarterly revenues of €82 million, the Services & Solutions Division - (S&S) recorded a +3% increase in turnover compared to Q3 2020 and +12% for the first nine months of the year (+13% at constant scope and exchange rates). The division supports the sustained needs of its customers required by the high rate of equipment engagement.

ISIN code: FR0000038606 Indices: CAC ALL SHARES, CAC ALL-TRADABLE, CAC INDUSTRIALS, CAC MID & SMALL, CAC SMALL, EN FAMILY BUSINESS

January 27, 2022 (after market closing) Q4 2021 Sales Revenues

Manitou Group is a worldwide reference in the handling, access platforms, and earthmoving. By improving workplace conditions, safety, and performance, our environment remains renewable and sustainable for mankind.

Through its 3 iconic brands—Manitou, Gehl, and Mustang by Manitou—the group develops, manufactures, and provides equipment and services for the construction, agriculture, and industrial markets.

By constantly innovating its products & services, Manitou Group constantly adds value to exceed its stakeholders' expectations.

Always attuned to its customers via its expert network of over 1,050 dealers, the group continues to be true to its roots by keeping its headquarters in France. That focus, which powered sales to €1.6 billion in 2020, informs its talented worldwide team of 4,400 today whose passion ceaselessly motivates the group.

Warning regarding forward-looking items

This presentation may include forward-looking statements, which are based on current beliefs, expectations and assumptions, including without limitation assumptions regarding present and future business strategies and the business environment in which the Company operates, and involve known and unknown risk, uncertainties and other factors, which may cause actual results, performances or achievements, or industry results or other events, to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements speak only as of the date of this presentation and the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements that this presentation may contain to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based. Forward looking statements are for illustrative purposes only. Recipients of this presentation are cautioned that forward-looking information and statements are not guarantees nor undertakings of future performances and are subject to various risks and uncertainties, many of which are difficult to predict and beyond the control of the Company.