Slides
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Q3 2026 Earnings 1 Sylvain Blaise, President & CEO Céline Brard, CFO
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A worldwide reference in handling, aerial work platform and earthmoving, Manitou Group designs, produces, distributes and provides equipment and services for the construction, agriculture and industrial sectors. The Group's mission is to improve working conditions, safety and performance throughout the world, while preserving people and their environment. 2 6,100 TALENTS WORLDWIDE €2,6 bn 2025 REVENUE 800 BRAND DEALERS MANITOU GROUP PRESENTATION 2026 Q3
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01 Q3 2026 highlights: LIFT 2030 strategic alignment 2026 Q3
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4 An external environment still impacted by multiple sources of pressure Solid resilience in the European market, driven by Rental and Agriculture MARKET ENVIRONMENT AND EXTERNAL FACTORS Complex geopolitical context and foreign exchange volatility Inflationary environment and rising interest rates 2026 Q3
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HIGHLIGHTS Q3 2026 5 Transfo.Client focusInnovationLeadership 2026 Q3 Partnership agreement with Hyundai Develon Construction Equipment Signature of a cross-dealer partnership for construction product ranges A strategic alliance to enable us to significantly expand Manitou Group offer in the global compact equipment market, more specifically in the construction sector » HD Construction Equipment will produce mini-excavators, which will be marketed under both Manitou and GEHL brands » Manitou Group will manufacture compact loaders (skid and track) for the Hyundai and Develon brands
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6 Transfo.Client focusInnovationLeadership 2026 Q3 » A new generation of M, MC, and MSI forklifts Key enhancements: operator comfort, simplified maintenance, and industrial cab rationalization GEHL SRT105 Machine launches » A new range: stand-on mini track loader (UTL) Target market: landscaping and construction First deliveries scheduled for January 2027 Manitou MC 25-2 Manitou 1050 SRT HIGHLIGHTS Q3 2026
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7 Transfo.Client focusInnovationLeadership 2026 Q3 Launch of a new attachment range dedicated to compact loaders » Specifically designed for large skid-steer and track loaders » To respond to European market needs » Upgrades to existing attachments and 5 new attachments » Turnkey “machine-attachments” solutions Grader blade Cold planer Concrete mixing bucket Forestry & stone mulcher Planetary drive auger HIGHLIGHTS Q3 2026
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8 » Machine of the year awarded to the 100% electric ML T 625 e at the 95th National Ploughing Championships in Ireland » Best telehandler of the year awarded to the MT 1840 e at the Movicarga Awards in Spain Transfo.Client focusInnovationLeadership 2026 Q3 Our award-winning products » Izydory Award in Poland: genuine field recognition for the ML T 742-140 V+ e! HIGHLIGHTS Q3 2026
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9 2026 Q3 Transfo.Client focusInnovationLeadership » Global broadcast on September 30, 2026 » Roundtable format with external speakers (neuroscientist + President of Neoline) » Testimonials from numerous stakeholders (employees, suppliers, dealers, end-users, etc.) HIGHLIGHTS Q3 2026 Presentation of LIFT 2030 CSR commitments 5th edition of Manitou Group's annual CSR event: On the way up
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02 Q3 2026 Activity
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9 month Revenue €2,069m 11 End Q3 Order book €1,051m +12.3% +16.4% +4.1% 2026 vs. 2025 9 month Machines order intake1 €1,693m Q3 Revenue €642m +13.0% +19.3% 2026 vs. 2025 Q3 Machines order intake1 €512m KEY FIGURES 2026 Q3 (1) see appendix for term definition
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12 9th CONSECUTIVE QUARTER OF INCREASE IN MACHINES ORDER INTAKE VS N-1 AND STABILIZATION OF THE ORDER BOOK (€m)1 Order intakeOrder book Change in order intake (vs. N-1)+xx% 2026 Q3 5 months of order book (1) see appendix for term definition
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PERFORMANCE BY REGION 131 Latin America, Asia-Pacific, Africa and Middle-East Operational performances Europe Continued revenue growth driven by market expansion. North America Third-quarter business rebound driven by market growth versus 2025 and favorable foreign exchange effects in the third quarter. LAPAM1 Lower activity weighed down by Middle East geopolitical instability and intense Asian competitive pressure. Segmentation aligned with strategic goals and the operational organization €1,709m +15.8% €512m +13.1% Europe €380m +9.8% €140m +41.9% North America €243m -7.8% €88m -5.9% LAPAM Area Not Covered Revenue 9 month var. 25 LFL* Revenue Q3 var. 25 LFL* 2026 Q3 * LFL: Like for like, at constant exchange rate
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Q3 2026 REVENUE* GROWTH DRIVEN BY EUROPE AND NORTH AMERICAN REBOUND 14*€m GROUPE +13.0% EUROPE NORTH AMERICA LAPAM -4.6% -11.2% +20.7% -0.1% -6.7% +10.2% +16.2% +12.0% +13.1% +41.9% -5.9% 2026 Q3 Revenue in current data, % change in constant data excluding exchange rate effects GROUP
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15 9 MONTH REVENUE BRIDGE (€m) Positive volume dynamics Favorable product mix Pricing impacted by a competitive environment Unfavorable exchange rates 2026 Q3
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03 2026 Outlook
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100 DAYS OF SYLVAIN BLAISE 17 2026 Q3 Solid foundations » Strong products and brands » A solid network and satisfied customers » Committed and passionate employees Profitability and innovation imperatives » Intense competitive pressure » Costs and prices discipline » Investment in innovation
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18 A CONTRASTED Q4 CONTEXT Activity secured by a strong order book 2026 Q3 ● Solid order book (5 months as of September 30, 2026) ● Good level of activity expected for the 4th quarter, close to Q4 2025 Increase in raw material and energy costs e.g., steel prices (Nymex) Implementation of actions to compensate these external shocks
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2026 FINANCIAL OBJECTIVES Guidance confirmed despite raw material cost inflation Revenue growth of 6.5% to 8% compared to 2025 Recurring operating profit between 5.3% and 5.6% of revenue However, achieving these objectives remains conditional on an uncertain environment, driven by an unstable macroeconomic situation, geopolitical context, and volatile raw material prices. 2026 Q3 19
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FOURTH QUARTER PRIORITIES 20 2026 Q3 Focus on productivity and cost control Remaining competitive in an inflationary and competitive environment Adjusting pricing in response to inflationary pressure Strengthening our position in North America Positioning to regain in 2027 through continued investment
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21 2026 Q3 Q&A
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22 Appendix 2026 Q3
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REVENUE BY ACTIVITY - 9 MONTH 23 EUROPE NORTH AMERICA LAPAM ELIMINATION OF INTER-REGION SALES TOTAL (in €m) 9 month 2026 9 month 2025 Change 9 month 2026 9 month 2025 Change 9 month 2026 9 month 2025 Change 9 month 2026 9 month 2025 Change 9 month 2026 9 month 2025 Change Machines 1,452 1,235 +17.5% 328 309 +6.0% 193 209 -7.8% -229 -225 +1.5% 1,744 1,529 +14.1% Spare Parts & Attachments 208 201 +3.7% 48 45 +5.3% 30 31 -2.5% -29 -28 +6.7% 256 249 +2.9% Services 49 42 +17.1% 4 4 -6.4% 20 20 -1.0% -3 -2 +122.2% 69 64 +7.5% Total 1,709 1,478 +15.6% 380 359 +5.8% 243 260 -6.7% -261 -254 +2.8% 2,069 1,842 +12.3% 2026 Q3
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REVENUE BY ACTIVITY - Q3 24 2026 Q3 EUROPE NORTH AMERICA LAPAM ELIMINATION OF INTER-REGION SALES TOTAL (in €m) Q3 2026 Q3 2025 Change Q3 2026 Q3 2025 Change Q3 2026 Q3 2025 Change Q3 2026 Q3 2025 Change Q3 2026 Q3 2025 Change Machines 428 374 +14.4% 122 81 +50.8% 71 74 -4.4% -88 -64 +36.7% 534 465 +14.7% Spare Parts & Attachments 67 63 +6.4% 16 13 +18.5% 11 10 +10.1% -10 -7 +35.4% 84 79 +6.3% Services 17 15 +14.5% 2 3 -43.6% 7 7 -2.2% -1 -1 +36.8% 24 24 +2.1% Total 512 452 +13.3% 140 97 +43.8% 88 91 -2.7% -98 -72 +36.6% 642 568 +13.0%
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CONTRIBUTIVE REVENUE - 9 MONTH 25 2026 Q3 EUROPE NORTH AMERICA LAPAM TOTAL (in €m) 9 month 2026 9 month 2025 Change 9 month 2026 9 month 2025 Change 9 month 2026 9 month 2025 Change 9 month 2026 9 month 2025 Change Total revenue 1,709 1,478 +15.6% 380 359 +5.8% 243 260 -6.7% 2,331 2,097 +11.2% Inter-region revenue -210 -209 +0.4% -43 -37 +16.0% -9 -8 +3.1% -261 -254 +2.8% External revenue 1,498 1,268 +18.1% 337 322 +4.6% 234 252 -7.0% 2,069 1,842 +12.3%
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CONTRIBUTIVE REVENUE - Q3 26 2026 Q3 EUROPE NORTH AMERICA LAPAM TOTAL (in €m) Q3 2026 Q3 2025 Change Q3 2026 Q3 2025 Change Q3 2026 Q3 2025 Change Q3 2026 Q3 2025 Change Total revenue 512 452 +13.3% 140 97 +43.8% 88 91 -2.7% 740 640 +15.7% Inter-region revenue -81 -55 +47.4% -14 -14 +5.9% -3 -4 -12.6% -98 -72 +36.6% External revenue 431 397 +8.6% 125 83 +49.9% 85 87 -2.3% 642 568 +13.0%
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DEFINITIONS 27 2026 Q3 Like for like, i.e. at constant scope and exchange rates: ● Scope: ○ no company acquired in 2025 and 2026 that could impact the current period published, ○ no company exited the scope in 2025 and 2026. ● 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.
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THANK YOU 28
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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. 29 2026 Q3