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Q3 2026 Results Tuesday, November 3, 2026 DISCIPLINED. DEDICATED. DRIVEN.
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DISCIPLINED. DEDICATED. DRIVEN. DISCIPLINÉS. DÉVOUÉS. DÉTERMINÉS. ADVISORY 2 Forward-looking information Information in this presentation that is not a historical fact is "forward-looking information". Words such as "plans", "intends", "outlook", "expects", "anticipates", "estimates", "believes", "likely", "should", "could", "would", "will", "may" and similar expressions are intended to identify statements containing forward-looking information. Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, ongoing objectives, strategies and outlook for Toromont; our approach to deploying capital, return on capital employed and any resulting benefit or growth; investment in capacity and capabilities to serve customers in the future; the expensing in the fourth quarter of the portion of the AVL Manufacturing Inc. ("AVL") dividend paid to the non-controlling ("NCI") s h a r e h o l d e r s u b s e q u e n t t o q u a r t e r ‑ e n d ; t h e payment of the quarterly dividend; future product support activity; expectations of future activity based on the current backlog or bookings, including the expected timing of delivery of power system orders, such as the $1.0 billion o r d e r f o r d e l i v e r y s u b s t a n t i a l l y i n 2 0 2 7 ; l o n g ‑ t e r m p o s i t i v e r e s u l t s a r i s i n g f r o m t h e d i v e r s i t y o f t h e m a r k e t s s e r v e d , e x p a n d i n g p r o d u c t o f f e r i n g a n d s e r v i c e s , s t r o n g f i n a n c i a l p o s i t i o n a n d d i s c i p l i n e d o p e r a t i n g c u l t u r e ; the delivery of approximately 70% of the Equipment Group backlog over the next twelve months; the realization of approximately 65% of the CIMCO backlog as revenue over the next twelve months; and the sufficiency of cash flows from o p e r a t i o n s , c a s h a n d c a s h e q u i v a l e n t s o n h a n d a n d c u r r e n t l y a v a i l a b l e c r e d i t f a c i l i t i e s t o f u n d r e q u i r e m e n t s f o r i n v e s t m e n t s i n w o r k i n g c a p i t a l a n d c a p i t a l a s s e t s . F o r w a r d ‑ l o o k i n g i n f o r m a t i o n i n t h i s presentation reflects current estimates, beliefs, and assumptions, which are based on Toromont’s perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. Toromont's estimates, beliefs and assumptions are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to c h a n g e . T o r o m o n t c a n g i v e n o a s s u r a n c e t h a t s u c h e s t i m a t e s , b e l i e f s a n d a s s u m p t i o n s w i l l p r o v e t o b e c o r r e c t . T o r o m o n t ' s a s s u m p t i o n s u n d e r p i n n i n g f o r w a r d ‑ l o o k i n g i n f o r m a t i o n i n c l u d e b u t a r e n o t l i m i t e d t o t h e f o l l o w i n g : n o n e o f the risks identified below materialize; there are no unforeseen changes to economic and market conditions; and no significant events occur outside the ordinary course of business. Numerous risks and uncertainties could cause the actual results to differ materially from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements, including, but not limited to: business cycles, including general economic conditions in the countries in which Toromont operates; new tariffs and counter-tariffs imposed on cross-border trade, commodity price changes, including changes in the price of precious and base metals; inflationary pressures; potential risks and uncertainties relating to a potential new world health issue; increased regulation of or restrictions placed on our businesses; changes in foreign exchange rates, including the Cdn$/ US$ exchange rate; the termination of distribution or original equipment manufacturer agreements; equipment product acceptance and availability of supply, including reduction or disruption in supply or demand for our products stemming from external factors; the cancellation, deferral or delay of customer orders included in backlog, including large power system orders; the amount and timing of purchase commitment expenses related to AVL; increased competition; credit of third parties; additional costs associated with warranties and maintenance contracts; changes in interest rates; the availability and cost of financing; level and volatility of price and liquidity of Toromont's common shares; potential environmental liabilities and changes to environmental regulation; information technology failures, including data or cybersecurity breaches; failure to attract and retain key employees as well as the general workforce; damage to the reputation of Caterpillar, product quality and product safety risks which could expose Toromont to product liability claims and negative publicity; new, or changes to current, federal and provincial laws, rules and regulations including changes in infrastructure spending; any requirement to make contributions or other payments in respect of registered defined benefit pension plans or post-employment benefit plans in excess of those currently contemplated; increased insurance premiums; and risk related to integration of acquired operations including cost of integration and ability to achieve the expected benefits. Readers are cautioned that the foregoing list of factors is not exhaustive. Any of the above mentioned risks and uncertainties could cause or contribute to actual results that are materially different from those expressed or implied in the forward-looking information and statements included herein. For a further description of certain risks and uncertainties and other factors that could cause or contribute to actual results that are materially different, see the risks and uncertainties set out under the heading "Risks and Risk Management" and "Outlook" sections in this MD&A and in Toromont's annual Management Discussion and Analysis dated February 10, 2026 , as filed with Canadian securities regulators at www.sedarplus.ca or at our website www.toromont.com. Other factors, risks and uncertainties not presently known to Toromont or that Toromont currently believes are not material could also cause actual results or events to differ materially from those expressed or i m p l i e d b y s t a t e m e n t s c o n t a i n i n g f o r w a r d ‑ l o o k i n g i n f o r m a t i o n . Specified financial metrics This presentation includes financial metrics, which do not have a standardized meaning under IFRS Accounting Standards ("IFRS"), which are also referred to as Generally Accepted Accounting Principles ("GAAP"), and may not be comparable to similar measures used by other issuers. These measurements are presented for information purposes only. The Company's Q 3 2026 Management's Discussion and Analysis ("MD&A") includes additional information regarding these financial metrics, including definitions and a reconciliation to the most directly comparable GAAP measures, under the headings "Additional GAAP Measures", "Non-GAAP Measures" and "Key Performance Indicators."
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DISCIPLINED. DEDICATED. DRIVEN. DISCIPLINÉS. DÉVOUÉS. DÉTERMINÉS. Q3 2026 HIGHLIGHTS 3 • Q3 results - reflected good growth in revenue across most revenue streams, with solid equipment deliveries and execution against order backlog and project schedules: • Revenue +26% in the third quarter of 2026. • Gross profit margins increased 240 bps to 29.1% for the quarter. The Equipment Group reported higher margins, offset by slightly lower margins at CIMCO. • Operating income +46% as the higher revenue & improved gross profit margins were partially offset by the higher expenses. • During the quarter AVL1 declared and paid a dividend of $15.7 million, of which $3.1 million represents the non-controlling interests allocation. • Equipment Group – Equipment delivery was higher on power system deliveries incl. AVL and improved mining activity & construction deliveries compared to the comparative period last year. Rental increased reflecting the larger fleet & improved activity across most markets and regions. Product support reported higher market activity in most areas. • CIMCO – Package revenue increased reflecting project timing. Product support activity continued to demonstrate healthy growth in Canada and the US. • Backlog of $2.9 billion was up from $1.3 billion YoY, reflecting strong demand for our products. • Q3 Bookings up 50% vs Q3 2025. Equipment Group bookings increased reflecting higher power system, mining & construction orders. CIMCO bookings were lower comparable to prior year. YTD Bookings up 95% YoY, with higher bookings in both groups. • Financial position remains strong - liquidity well-positioned to support activity levels & growth opportunities. • Team continues to execute safely in support of customer needs. _____________________________________________________ 1 AVL - AVL Manufacturing Inc., the recently acquired company.
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DISCIPLINED. DEDICATED. DRIVEN. DISCIPLINÉS. DÉVOUÉS. DÉTERMINÉS. Q3 2026 FINANCIAL HIGHLIGHTS 4 • Working Capital – increased compared to Q3 2025, we continue to exercise discipline and focus on customer requirements, market conditions and activity levels • Inventories – increased in both the Q3 and YTD periods, on higher activity levels and investment for future growth. • AR – increased vs. Q3 2025, largely reflecting the 26% increase in revenue in the quarter offset by good collection activity Vs Dec 2025 and increased in part reflecting 16% higher trailing revenue • Strong financial position with $1.2 billion cash on hand, $445 million in additional liquidity available through existing credit facilities • Net Debt to Total Capitalization ratio of -12% versus -9% as at Q3 2025 • Quarterly dividend of $0.56 per share • ROE at 17.8%, (5-year average of 20.5%) • ROCE at 26.7% (2025 – 23.3%) ROE (%) 23.5% 23.1% 19.2% 16.9%* 17.8%* 2022 2023 2024 2025 Q3 2026 Dividends per Share $1.56 $1.72 $1.92 $2.08 2.20 2022 2023 2024 2025 Q3 2026 * includes AVL's purchase price commitment expenses
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DISCIPLINED. DEDICATED. DRIVEN. DISCIPLINÉS. DÉVOUÉS. DÉTERMINÉS. • Bookings up 50% in Q3 (YTD +95%), higher orders at the Equipment Group, offset by lower orders at CIMCO (YTD, higher Equipment Group +107% & CIMCO +3%) • Backlog as at September 30 was $2.9 billion – Equipment Group up 158% & CIMCO down 5% • Revenue up 26% in Q3 (YTD +18%) • Equipment sales +40% in Q3 (YTD +27%) • Product Support +13% in Q3 (YTD +10%) • Rental revenue +12% in Q3 (YTD +11%) • Gross margins up 240 bps to 29.1% in Q3 (YTD +270 bps to 27.4%) • Expenses were up 25% in Q3 (YTD +20%) • Q3 2025 included a pre-tax gain on a property disposition of $13.7 million • SG&A increased to support higher activity levels and future growth • Provision for expected credit losses down $1.4M on good recoveries in PY not repeated (YTD up $8.8M on certain exposures) • DSU MTM adjustments decreased expense $6.6M (YTD up $1.8M) on share price fluctuation • Operating Income up 46% in Q3 & up 43% YTD reflecting higher revenue levels & improved gross profit margins partially offset by higher expenses • Purchase commitment expenses ("PCE") related to AVL $14.3 million in Q3 (Q3 2025 – $1.7 million). YTD $82.5 million (YTD 2025 – $4.5 million) • Net Earnings up 37% in Q3 (YTD up 21% to $409.3M) • Basic EPS of $2.35 up 36% in Q3 (YTD $5.02 up 20%) Q3 2026 FINANCIAL SUMMARY 5 Financial Data in $ million, EPS in $ per share Bookings : Backlog 595 892 1,329 2,868 Q3 2025 Q3 2026 YTD 2025 YTD 2026 Revenue 1,3151,652 3,781 4,478 Q3 2025 Q3 2026 YTD 2025 YTD 2026 Operating Income 191 279 463 665 Q3 2025 Q3 2026 YTD 2025 YTD 2026 EPS (basic) 1.73 2.35 4.18 5.02 Q3 2025 Q3 2026 YTD 2025 YTD 2026
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DISCIPLINED. DEDICATED. DRIVEN. DISCIPLINÉS. DÉVOUÉS. DÉTERMINÉS. Q3 2026 EQUIPMENT GROUP 6 Financial Data in $ million, EPS in $ per share Bookings : Backlog 518 825 988 2,544 Q3 2025 Q3 2026 YTD 2025 YTD 2026 Equipment & Rentals 687 924 1,996 2,509 Q3 2025 Q3 2026 YTD 2025 YTD 2026 Product Support 471 536 1,386 1,534 Q3 2025 Q3 2026 YTD 2025 YTD 2026 Operating Income 173 259 419 625 Q3 2025 Q3 2026 YTD 2025 YTD 2026 •Bookings up 59% in Q3 mainly reflecting higher orders in most areas including power systems, mining and construction (YTD bookings were up 107%, on a similar basis as the quarter) •Backlog up 158% YoY largely reflecting good new power system order intake in Q2, which included a $1.0 billion order previously announced, for delivery substantially in 2027. • Revenue up 26% in Q3 (up 19% YTD) • Total equipment revenue up 41% in Q3 (YTD +29%) • Rental up 12% in Q3 (YTD +11%) • Product Support up 14% in Q3 (YTD +11%) • Gross profit margins up 320 bps in Q3 (up 330 bps YTD) • QTD largely on higher equipment & rental offset by lower product support margin & unfavourable sales mix (lower proportion of product support revenue to total revenue) • YTD reflecting the same trends as the quarter • Expenses +30% QTD (YTD +22%) • Q3 2025 included a property disposition pre-tax gain of $13.7 million • Higher expenses reflect the continuing investment in key strategic areas • Higher compensation on higher profit sharing accruals, staffing levels, annual salary increases • DSU MTM adjustments decreased expense $5.8M (YTD up $1.7M) on share price fluctuation • Provision for expected credit losses down $0.4M (YTD +$8.4M) on on certain exposures, coupled with good recoveries in the prior year not repeated • Other expenditures up with higher activity levels and in support of initiatives including customer engagement • Operating Income up 50% in Q3 (up 49% YTD) on the higher revenue & improved gross profit margins offset by higher expenses
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DISCIPLINED. DEDICATED. DRIVEN. DISCIPLINÉS. DÉVOUÉS. DÉTERMINÉS. Q3 2026 CIMCO 7 Financial Data in $ million, EPS in $ per share Bookings : Backlog 77 67 341 324 Q3 2025 Q3 2026 YTD 2025 YTD 2026 Revenue 155 190 391 427 Q3 2025 Q3 2026 YTD 2025 YTD 2026 Product Support % Revenue 42.4%37.6% 45.4%43.3% Q3 2025 Q3 2026 YTD 2025 YTD 2026 Operating Income 18 20 44 40 Q3 2025 Q3 2026 YTD 2025 YTD 2026 • Bookings down 13% in Q3 (YTD up 3%) lower in both Canada & the US • Industrial market up 19% in Q3 (YTD +15%) • Recreational market down 41% (YTD down 10%) • Backlog down 5% YoY with stronger order intake in the US up 10% while backlog in Canada was down 14% • Revenue up 23% in Q3 (YTD +9%) • Package Sales up 33% QTD (YTD up 14%), QTD reflecting project timing, with higher activity in both the recreational market & the industrial market in both Canada and the US. YTD lower recreational market activity was more than offset by higher industrial market activity • Product Support +9% QTD (YTD +4%), QTD led by good activity in Canada. YTD higher activity in Canada, offset lower activity in the US, activity levels continued to improve & increased technician workforce • Gross profit margins down 410 bps in Q3 (YTD down 250 bps) • lower package margins QTD down 320 bps & YTD down 220 bps • lower product support margins QTD down 50 bps & YTD down 10 bps • unfavourable sales mix QTD down 40 bps & YTD down 20 bps • Expenses down 3% in Q3 (YTD +6%) • Higher compensation costs on staffing levels & annual increases largely offset by lower profit sharing accruals on lower earnings • Higher travel and training expenses to support activity • Provision for credit losses down $1.0M (YTD +$0.4M) on good recoveries in Q3 2026 vs 2025 • Operating Income up $1.9M in Q3 (YTD down $5.0M) • QTD higher revenue & lower relative expense levels, offset by lower gross profit margins • YTD lower gross profit margins partially offset by the higher revenue
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DISCIPLINED. DEDICATED. DRIVEN. DISCIPLINÉS. DÉVOUÉS. DÉTERMINÉS. KEY TAKEAWAYS LEADING INTO Q4 of 2026 8 • Our key strategic priorities: • Maintaining safe and efficient operations • Delivering exceptional customer service • Applying disciplined financial and operational focus to support long-term growth • Expecting the business environment to be influenced buy a number of factors, some of which are: • Global trade negotiations remain fluid and are being closely monitored • Economic factors - inflation, interest rates, FX rates and volatile macro-economic trends & geopolitical developments • Balancing customer credit risk while supporting growth and operational requirements • Strong Backlog positions us well heading into Q4 and 2027, booking activity healthy • Technician hiring is a key priority and it remains an essential focus to support the growing customer demand for our products and services • Operationally and Financially, we are well positioned with ample liquidity and our strong leadership teams, disciplined culture and focused operating models • Thank-you to our customers, our people, our supply partners and our shareholders for your continued support
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DISCIPLINED. DEDICATED. DRIVEN. DISCIPLINÉS. DÉVOUÉS. DÉTERMINÉS. 2026 — 2027 SCHEDULE 9 All dates and times are preliminary and subject to change Quarter Release Date After market close Investor Call Date Investor Call Time Eastern Fiscal 2026 February 11, 2027 February 12, 2027 8:00 AM Q1 2027 April 27, 2027 April 28, 2027 8:00 AM Q2 2027 July 29, 2027 July 30, 2027 8:00 AM Q3 2027 November 3, 2027 November 4, 2027 8:00 AM Other Events and Filings Date Time 2027 Annual & Special Meeting April 28, 2027 10:00 AM EST
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THANK YOU
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Q3 2026 Results Tuesday, November 3, 2026 DISCIPLINED. DEDICATED. DRIVEN.