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DEUTZ AG 9M 2026 results Cologne | 5 November 2026
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Disclaimer 2 This document (the “Presentation”) is for information purposes only and must not be relied upon for any purpose. It does not purport to contain all information required to evaluate DEUTZ AG (the “Company”) and its subsidiaries (collectively, the “Group”) and/or its financial position. This Presentation does not constitute or form part of, and is not made in connection with any offer, invitation or recommendation to subscribe for, underwrite or otherwise acquire any securities of the Group or any of its subsidiaries or affiliates, nor should it or any part of it form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities of the Group or any of its subsidiaries or affiliates, nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. 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For additional information on these and other factors that could affect our forward-looking statements, see our risk factors, as they may be amended from time to time, set forth in our annual reports.
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Dr. Sebastian Schulte Overview & current development
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9M 2026: High order growth and improved margin level New orders €1,963 million 4 +30% yoy Revenue €1,669 million +11% yoy EBIT margin1 7.1% +1.3pp yoy 1 Before exceptional items. Exceptional items include effects from purchase price allocations (PPA) since FY 2026; the figures for the prior-year periods have been adjusted accordingly, for 9M 2025 from 5.0% to 5.8% and for Q3 2025 from 5.8% to 6.3%. Q3: €631 million +34% yoy Q3: €554 million +12% yoy Q3: 7.0% +0.7pp yoy
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5 Key highlights Engines pushes efficiency and partner engines FFG acquisition closed Energy with high Q3 order intake and revenues Capital increase optimizes financing structure
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6 Landmark FFG acquisition closed ahead of plan – strong governance in place for next phase of growth • Proven across NATO land programs • Strongly positioned to capture opportunities ahead • ~€1.6bn purchase price • to be appointed shortly • Shareholder approval: EGM on 24 August – the largest acquisition in DEUTZ's history • Deal closed: Transaction successfully completed • Anchor shareholder: 29.9% – incl. standstill and lock-up (new number of shares: 239.5 million) • Supervisory Board: Norbert Erichsen and Gorm Iver Gondesen (to be appointed shortly) • Management continuity: CFO Oliver Neu's contract extended until 2032
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7 Next DEUTZ: FFG accelerates the transition to Europe's leading industrial platform Next DEUTZ is working • Transformation since 2022:From cyclical engine manufacturer to diversified industrial platform • 10+ acquisitions: Disciplined buy-and-build • Five business units: Autonomous with full P&L responsibility since January 2026 FFG – a rare asset at the right time • Profile: One of the strongest growth and margin profiles in European land defense • Hard to replicate: Qualifications, program access and capacity that would take years to build organically • Market window: Europe's defense procurement window is open and accelerating +30% Order intake 9M 2026 +11% Revenue 9M 2026 7.1% Adj. EBIT margin 9M 2025: 5.8% ~€760m Revenue 2025 ~90% MRO+ revenue share >€1.9bn Order backlog 30+ Supported NATO platforms
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8 FFG anchors DEUTZ Defense – clear responsibilities and synergies Structure Defense business Leadership Led by Jörg Kamper (CEO), Christian Kunz (CFO) and Marco Herre FFG Core of the unit – operationally largely independent Existing Defense business and partnerships Drone drives (SOBEK), military engines and partnerships (e.g. ARX Robotics, TYTAN) FFG contribution and Synergies First focus areas: Service capabilities and network, powertrain integration and procurement Timing: First contributions from 2027 >€1bn FFG revenue 2027e >20% FFG adj. EBITDA margin 2027e Looking ahead 30 Mar 2027 FY 2026 results and 2027 guidance Q2 2027 (tbc) Capital Markets Day 4 May 2027 Q1 2027 – first full quarter with FFG
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• Continued portfolio and footprint strategy execution to further push profitability and competitiveness − Voluntary leave program at Cologne site completed with around 100 positions reduced − Up to 300 further positions in BU Engines at Cologne site to be affected over the next two years, driven by more efficient production, higher utilization of BCC assembly and expiring engine series; final scope depends on demand, talks with works council ongoing • Partner engines: Portfolio expanded with high- performance 1.6-liter engine, produced in India with partner Kirloskar Oil Engines DEUTZ Engines: Efficiency measures and portfolio optimization continue
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10 1 Before exceptional items. HIGHLIGHTS & OUTLOOK • Q3 order intake up 29% yoy in business environment which is still challenging, 9M orders of €1,056 million (+19% yoy), 9M book-to-bill at 1.13 (Q3: 1.22); significantly increased order backlog at €442.7 million (30 September 2025: €298.5 million) • Q3 significantly impacted by seasonally low July and August production volume, strong recovery in September after summer-break; 9M revenues up 3% yoy to €932 million, while adj. EBIT almost quadrupled to €26 million • Cost savings from various efficiency programs in all functions (production, supply chain, R&D, sales) more than compensate cost pressure especially from different effects of Iran crisis • Steep increase in revenues and healthy new orders anticipated for Q4 2026 NEW ORDERS & REVENUE (€ million) ADJUSTED EBIT1 (€ million) DEUTZ Engines Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 296.1 291.3 319.2 328.0 272.7 287.8 364.5 325.2 373.2 306.7 329.8 335.7 352.5 289.9 29.3% 0.7% New orders Revenue % Margin Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 -0.3 5.0 1.9 7.0 11.5 12.8 1.5-0.1% 3.7% 3.8% 1.5% 0.7% 2.1% 0.5%
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• US network expansion pays off: highest growth of all regions (Q3 revenue +38% yoy), supported by integration of G&T Truck Repair in California • Realignment of DACH dealer organization nearly completed: new contracts with dealers already largely implemented, own service organization growing • Focus on partnerships with large fleet owners and new OEM customers to expand third-party serviceable base and become a "one-stop shop" • Ramp-up of cross-BU synergies and expansion of BU Service role as bracket across all BUs: genset service business with Frerk in Europe, first touchpoints with FFG DEUTZ Service: Network expansion pays off
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Strengthening footprint in the global defense tech ecosystem 12 1 Before exceptional items. HIGHLIGHTS & OUTLOOK • Overall double-digit growth in orders and revenue with exceptionally high growth in the Americas • 9M revenues at 451 million, +10% yoy • Order backlog at €59.9 million (30 September 2025: €43.6 million) • Q3 2026 with best profit margin YTD, while investments in in regional growth initiatives continue to weigh somewhat on the margin NEW ORDERS & REVENUE (€ million) ADJUSTED EBIT1 (€ million) DEUTZ Service % Margin Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 142.1 138.3 126.4 131.6 140.4 138.9 139.6 138.8 159.9 148.1 151.9 150.1 155.0 153.0 10.4% 10.2% New orders Revenue Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 27.0 23.7 30.1 23.6 26.0 25.4 Q3 2026 28.8 19.5% 17.6%18.0% 16.9% 21.6% 17.0% 18.8%
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• Building of global distributed energy platform continues • Data center (DC) business gaining importance • Frerk wins major DC contract in October (after Q3) • Quoting several DC projects outside of Germany • US customer base further diversified: Blue Star Power Systems adds 16 new distributors YTD • One global brand: rebranding of products and companies initiated, creating a single DEUTZ Energy brand by end of 2027 • Ambition confirmed: >€1 billion revenue within five years DEUTZ Energy: From regional champions to one global platform
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14 1 Before exceptional items. HIGHLIGHTS & OUTLOOK • New orders of €80 million in Q3 (+208% yoy), 9M order intake at €342 million (+195% yoy); strong order backlog of €229 million (30 September 2025: €79 million) • Steady revenue growth quarter over quarter, in Q3 particularly driven by strong performance at Frerk and MAXI TRUST; 9M revenues at €195 million (+59% yoy) • Adj. EBIT doubled in Q3 yoy with solid margin of 14%; 9M adj. EBIT of €23 million (+11% yoy) at 12% margin • Good outlook on FY2026 with >€300 million revenue at increasing EBIT margin level NEW ORDERS & REVENUE (€ million) ADJUSTED EBIT1 (€ million) DEUTZ Energy % Margin Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 68.4 38.9 21.2 40.4 26.1 43.8 49.7 45.7 206.7 50.8 54.7 65.7 80.3 78.6 207.7% 79.5% New orders Revenue Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 6.9 8.6 5.3 5.2 3.3 9.0 10.8 17.7% 6.5% 21.3% 13.7% 11.3%12.2% 13.7%
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• Close collaboration with other BUs, especially with BU Defense e.g. as part of Hypercraft collaboration, first touchpoints with FFG on hybridization of military vehicles, and with BU Energy in terms of BESS • Converting pipeline into revenue remains priority: scaling projects, production and delivery capabilities • Market tailwind from falling battery cell prices and high fuel prices expected to pay off in the medium term, however, overall economic situation is currently affecting investment activity DEUTZ NewTech: Focus on core applications and BU collaboration
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Strengthening footprint in the global defense tech ecosystem 16 1 Before exceptional items. HIGHLIGHTS & OUTLOOK • 9M new orders of €9.3 million (-26% yoy) reflect currently muted demand environment; order backlog at €7.5 million (30 September 2025: €9.8 million) • 9M revenue at €7.4 million (+14% yoy), particularly from the delivery of electrified excavators, material handling applications and airport equipment • 9M adj. EBIT of €-21.6 million (9M 2025: €-27.2 million) shows reduced losses yoy due to focused R&D and cost discipline, while Q3 reflects lower revenue volume NEW ORDERS & REVENUE (€ million) ADJUSTED EBIT1 (€ million) DEUTZ NewTech Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 1.0 1.4 9.7 1.8 1.9 3.3 0.5 4.8 4.9 2.3 2.2 3.8 2.2 1.3 15.8% -60.6% New orders Revenue Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 -12.0 -7.4 -7.8 -8.5 -6.4 -7.1 -8.1
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• FFG transaction closed, good performance of BU ahead of acquisition • November and December results to be supported by first FFG contributions, leading to increase in margin for the group • Expanding collaboration with DefTech ecosystem: after investments in ARX Robotics and TYTAN Technologies, MoU signed with US-based Hypercraft on unmanned ground vehicles, opening access to US military customers • SOBEK Group expands business beyond its European core customers • Strong prospects for engines for military gensets, particularly for the German army DEUTZ Defense: FFG closed, Defense becomes a core pillar
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Strengthening footpr & Other in the global defense tech ecosystem 18 1 Before exceptional items. 2 Due to the new structure of the business unit and the reporting segment, a meaningful yoy comparison is not applicable. HIGHLIGHTS & OUTLOOK • High order growth in Q3 2026 yoy driven by Defense activities (military engines and drone drives); 9M 2026 orders of €89.2 million, up 12% yoy; order backlog at €51.6 million (30 September 2025: €37.4 million) • 9M 2026 revenue growth of 52% yoy to €83.2million predominantly attributable to Defense, specifically to engines for air defense systems and wheeled vehicles, as well as electric drives for military drones • 9M 2026 adj. EBIT of €10.7 million at 12.9% margin with strong Q3 results at 17.7% margin, in particular driven by the expansion of the highly profitable SOBEK business • HJS Emission Technology (i.e. Other) with solid performance in summer quarter Q3 NEW ORDERS & REVENUE (€ million) ADJUSTED EBIT1 (€ million) Segment DEUTZ Defense & Other % Margin Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 38.5 19.1 11.5 16.3 29.3 19.5 18.9 28.9 26.3 22.1 21.7 30.0 41.2 31.1 40.6% 59.5% New orders Revenue Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 0.2 1.7 3.2 2.9 2.3 5.5 13.1%N.A.2 1.2% 7.7%8.8% 11.1% 17.7%
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Oliver Neu 9M 2026 Group financials
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20 • 10% capital increase against cash contributions from authorized capital with exclusion of pre-emption rights carried out mid of September 2026 via accelerated bookbuilding • ~15.3 million new shares placed at €11.70 each • Gross proceeds of €~179 million gained via private placement • Strong demand among existing and new investors – order book more than four times oversubscribed • Net proceeds used to optimize DEUTZ’ capital structure in order to enhance financial flexibility for future growth opportunities Flexibility for future growth: Successful capital increase
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21 Note: Relates to continuing operations. 1Before exceptional items. 2Exceptional items include effects from purchase price allocations (PPA) since FY 2026; 2025 figures have been adjusted accordingly. Q3 2026 with improved margin yoy amid summer season 0 5 10 15 20 25 30 35 40 45 1 2 3 4 5 6 7 8 6.1% Q1 5.3% Q2 1.7% Q3 3.8% Q4 5.2% Q1 5.8% Q2 Q3 5.6% 7.0% 27.7 Q2 22.4 7.0% 7.2 19.4 Q4 25.6 Q3 30.1 31.2 6.3% Q1 37.3 7.2% 42.4 38.5 30.5 +7.3 (+23.4%) Adjusted EBIT1 in € million, margin in % 2024 20252 2026
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New orders in € million Revenue in € million Adjusted EBIT1 in € million (margin in %) 9M 2025 9M 2026 1,504.5 1,962.5 +30.4% 9M 2025 9M 2026 1,500.4 1,669.2 +11.3% 9M 2025 9M 2026 86.9 118.2 +36.0% 5.8% 7.1% 22 1 Before exceptional items. Exceptional items include effects from purchase price allocations (PPA) since FY 2026; prior-year EBIT has been adjusted accordingly from €75.5 million to €86.9 million, the margin has been adjusted from 5.0% to 5.8%. • New orders increased by €458, thereof ~€155 million from 1st time consolidation of Frerk Aggregatebau and MAXI TRUST; book-to-bill ratio at 1.2 (9M 2025: 1.0), order backlog at €791 million (30 September 2025: €468 million) • Revenue: Highest absolute growth contribution from BU Energy, followed by BU Service; 53% of revenue generated in Europe, 29% in the Americas, 11% in APAMEA, 7% in China • Earnings: Margin increase driven by cost savings from Future Fit program, scale effects and portfolio mix; net income of €40.4 million, incl. €13.1 million provision for voluntary leave program Cologne site (9M 2025: €20.1 million, incl. €25 million provision for Future Fit) DEUTZ Group – 9M 2026 business figures
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Capital expenditure1,2 in € million 23 1 After deducting grants. 2 Capital expenditure on property, plant and equipment (including right-of-use assets in connection with leases) and intangible assets, excluding capitalization of R&D. 3 Right-of-use assets for leases under IFRS 16. 4 Working capital as at the balance sheet date divided by revenue for the previous twelve months. R&D spending, capital expenditure, and working capital Net R&D spending1 in € million Working capital in € million 9M 2025 9M 2026 64.0 72.5 +13.3% R&D ratio 31.12.2025 30.09.2026 382.9 474.4 +23.9% 18.7% Working capital ratio (as at the balance sheet date)4 4.3% 4.3% 10.5 9M 2025 34.0 9M 2026 61.6 91.3 +48.2% Thereof additions as a result of leases3 21.4% • R&D allocated to BU Engines (€50.7 m, +€8.0 m yoy), BU NewTech (€12.2 m, -€7.1 m yoy), BU Defense (€9.6 m, +€7.7 m yoy) • Capex predominantly for IT infrastructure, production equipment and software; leases driven by extensions of real estate leases • Working capital ratio increased due to statistical effect from Frerk and MAXI TRUST acquisitions and higher inventories due to order pattern and seasonal factors
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Free cash flow1 in € million Cash flow from operating activities in € million 24 1 Before M&A. Cash flow from operating activities and from investing activities less interest expense. 2 Cash and cash equivalents less current and non-current interest-bearing financial liabilities. Cash flow and net debt Net debt2 in € million 9M 2025 9M 2026 76.4 55.8 -20.6 78.1 31.12.2025 98.0 30.09.2026 269.4 378.4 +109.0 9M 2025 9M 2026 2.4 -50.2 -52.6 Thereof leases Thereof leases • Operating cash flow: Decrease yoy caused by higher inventories, severance payments (Future Fit, voluntary program) and cash- effective exceptional items regarding M&A • FCF1 decreased yoy due to lower operating cash flow, increased capex and interest payments • Net debt increased due negative FCF, financing of acquisitions and strategic investments, mitigated by proceeds of capital increase
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Leverage Net debt1/EBITDA LTM2 Equity in € million 25 1 Cash and cash equivalents less current and non-current interest-bearing financial liabilities. 2 Before exceptional items. Balance sheet, financing and dividend Dividend per share in € 980 31.12.2025 30.09.2026 1,912 2,365 1,182 Total assets Equity 51.3% % Equity ratio 50.0% 1.3 2024 1.2 2025 1.5 9M 2026 2022 2023 2024 2025 0.15 0.17 0.17 0.18 • Equity ratio largely on year-end 2025 level as capital increase and positive net earnings compensate for debt-financed acquisitions • Leverage at solid 1.5x ahead of FFG acquisition (after capital increase down from 2.1x end of Q2 2026) • Dividend paid of increased €0.18 per share after AGM in May 2026
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Dr. Sebastian Schulte Guidance & outlook
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27 Guidance 2026 confirmed – FFG consolidation from November pushes margin Guidance 2026 Revenue €2.3 billion to €2.5 billion thereof (midpoint) Engines €1.330 m, Service €635 m, Energy €290 m, NewTech €35 m, Defense & Other €110 m Adjusted EBIT margin1 Upper end of 6.5% to 8.0% with (midpoint) Engines at 3.25%, Service at 17.5%, Energy at 11.0%, Defense & Other at >11.0% and NewTech with expected losses of €-20 m to €-30 m Free cash flow2 High double-digit million-euro amount • Guidance initially given on market visibility as of end of February 2026 • Increased resilience from portfolio diversification pays off • With the consolidation of FFG from November onwards, adjusted EBIT margin is now expected to be at the upper end of the range 1 Before exceptional items. 2 Before M&A.
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28 Key highlights – Stay tuned Engines pushes efficiency and partner engines FFG acquisition closed Energy with high Q3 order intake and revenues Capital increase optimizes financing structure
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Thank you. We look forward to your questions.
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Financial calendar and contact details Contact Investor Relations +49 (0) 221 822-3600 ir@deutz.com Financial calendar 2026 annual report 30 March 2027 Q1 2027 quarterly statement 4 May 2027 Annual General Meeting 13 May 2027 Follow us on 2027