Manitou Group — Investor Presentation 2025

Jan 29, 2025

Q4 2024 Revenues

Michel Denis - President and CEO
Céline Brard - CFO
Hervé Rochet - Chief Transformation & Governance Office

MANITOU GROUP
SET THE WORLD
IN MOTION

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Disclaimer

This presentation includes only summary information and does not in any way purport to be comprehensive. None of the Company or any of its affiliates, directors, officers, advisors and employees accepts any obligation, liability, claim or remedy for any loss arising from any use of these presentation materials or their contents or otherwise arising in connection with these materials, whether or not arising from the negligence of the Company.

This presentation may include market data and certain industry forecasts obtained from internal surveys, estimates, reports and studies, as well as external market research, publicly available information and industry publications. The Company, its affiliates, directors, officers, advisors and employees have not independently verified the accuracy, adequacy, reliability, completeness of any such market data and industry forecasts and make no representations or warranties in relation thereto.

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.

Neither this presentation nor any copy of it may be taken, transmitted into or distributed in the United States of America, Canada, Japan or in any other jurisdiction where applicable laws restrict the transmission or distribution of this presentation.

Q4 2024 Net sales | January 29th, 2025

MANITOU

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3

Highlights

• Q4 24 revenues of €657m, - 19% vs. Q4 23
• Cumulative 12-month sales of €2,657m, - 7% vs. 12-month sales 23, - 8% like for like(1)
• Q4 24 order intake on equipment of €532m vs. €269m in Q4 23
• End of Q4 24 order book(2) on equipment at €1,083m vs. €2,275m in Q4 23

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Landing in line with guidance, continued recovery in order intake on equipment

(1) at constant scope and exchange rates: terms defined in the appendix
(2) term defined in the appendix

Q4 2024 Net sales | January 29th, 2025

MANITOU

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4

Group's life

• Groundbreaking ceremony for the new mechanical welding plant dedicated to the MEWP business at Candé

• integration and strengthening of the upstream chain

• Finalization of the acquisition of the assets of the South African distributor Dezzo Equipment

• securing business continuity
• strengthening of the service to the local customers

Q4 2024 Net sales | January 29th, 2025

MANITOU

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5

Group's life

» Evolution of New Ag's telescopic forklift range announced at EIMA in Italy

» Manitou Group wins the “Grand Prix Impact Enterprise” which recognizes its solid local roots, successful international expansion and commitment to environmental and social issues

Q4 2024 Net sales | January 29th, 2025

MANITOU

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6

Q4 2024 Revenue

Q4 2023 Revenue							Q4 2024 Revenue
South Eur.	North Eur.	Americas	APAM	Tot.	€m % tot.	South Eur.	North Eur.	Americas	APAM	Tot.
247
30%	266
33%	134
17%	65
8%	712
87%	Product Division	200
30%	160
24%	141
21%	55
8%	556
85%
37
5%	35
4%	16
2%	14
2%	102
13%	S&S Division	38
6%	34
5%	14
2%	15
2%	101
15%
284
35%	300
37%	150
18%	78
10%	814
100%	Total	238
36%	193
29%	155
24%	71
11%	657
100%

S&S: Services and Solutions

Faster-growing boxes (vs.avg) shown in green

Q4 2024 Net sales | January 29th, 2025

MANITOU

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7

Evolution Q4 2024 vs Q4 2023

| Rev. in €m
in % | South Europe | North Europe | Americas | APAM | Total |
| --- | --- | --- | --- | --- | --- |
| Product Division | -47
-19% | -106
-40% | +6
+5% | -9
-14% | -156
-22% |
| S&S Division | +1
+2% | -1
-3% | -2
-12% | +2
+11% | -1
-1% |
| Total | -46
-16% | -107
-36% | +5
+3% | -8
-10% | -156
-19% |

Q4 2024 Net sales | January 29th, 2025

MANITOU

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8

12 months 2024 Revenue

12 months 2023 Revenue							12 months 2024 Revenue
South Eur.	North Eur.	Americas	APAM	Tot.	€m % tot.	South Eur.	North Eur.	Americas	APAM	Tot.
826
29%	914
32%	531
18%	202
7%	2472
86%	Product Division	790
30%	759
29%	498
19%	201
8%	2248
85%
145
5%	134
5%	68
2%	52
2%	399
14%	S&S Division	152
6%	136
5%	67
3%	55
2%	409
15%
971
34%	1048
37%	599
21%	254
9%	2871
100%	Total	942
35%	894
34%	565
21%	256
10%	2657
100%

S&S: Services and Solutions

Faster-growing boxes (vs.avg) shown in green

Q4 2024 Net sales | January 29th, 2025

MANITOU

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9

Evolution 12 months 2024 vs 12 months 2023

| Rev. in €m
in % | South Europe | North Europe | Americas | APAM | Total |
| --- | --- | --- | --- | --- | --- |
| Product Division | -35
-4% | -156
-17% | -33
-6% | -0
-0% | -224
-9% |
| S&S Division | +7
+5% | +2
+1% | -1
-1% | +3
+5% | +10
+3% |
| Total | -28
-3% | -154
-15% | -34
-6% | +2
+1% | -214
-7% |

Q4 2024 Net sales | January 29th, 2025

MANITOU

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10

Evolution vs 2023

| Rev. in €m
% vs. Rev. N-1 | 2023.12 | Exchange rate | Scope change | Evolution at constant scope * | 2024.12 |
| --- | --- | --- | --- | --- | --- |
| Product Division | 2472 | +2
+0% | +12
+0% | -238
-10% | 2248
-9% |
| S&S Division | 399 | +1
+0% | +0
+0% | +10
+2% | 409
+3% |
| Total | 2871 | +3
+0% | +12
+0% | -229
-8% | 2657
-7% |

• at constant scope and exchange rates: definition in appendix

Q4 2024 Net sales | January 29th, 2025

MANITOU

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11

Order intake and order book on equipment (£m)

Q4 2024 Net sales | January 29th, 2025

MANITOU

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12

Operational review

• For the second consecutive quarter, order intake has risen to a level not seen since the 3rd quarter 2022.
• Significant base effect on sales compared to Q4 2023, which was at a record level
• Heterogeneous dynamics by sales area and by product line, rebound on the American market
• Agile adjustment of the operational chain to the context

> Order intake rebound, Q4 sales down

Q4 2024 Net sales | January 29th, 2025

MANITOU

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13

Outlook

• Confirmation of expected recurring operating profit in 2024 above 7% of revenues
• Expectation of stable revenue in 2025 compared with 2024

Q4 2024 Net sales | January 29th, 2025

MANITOU

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14

Appendix - Definitions

Like for like, so at constant scope and exchange rates:

• Scope:
• for the company GI.ERRE SRL acquired in March 2023, restatement from January 1 of the current year to the anniversary date of its acquisition,
• for the companies acquired in 2024 (COME SRL and Metal Work SRL in January 2024), restatement from the date of their acquisition to December 31, 2024,
• no company exited the scope in 2023 and 2024.
• Application of the exchange rate of the previous year on the aggregates of the current year.

Order book:

The order book corresponds to machine orders received and not yet delivered, for which the group:

• has not yet provided the promised machines to the customer,
• has not yet received consideration and has not yet been entitled to consideration.

These orders are delivered within less than one year and may be cancelled.

The order book may vary due to changes in consolidation scope, adjustments, and foreign currency translation effects.

Q4 2024 Net sales | January 29th, 2025

MANITOU

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THANK YOU

MANITOU GROUP | SET THE WORLD IN MOTION