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Investor Relations 28/10/2026 Q3/9M 2026 Results 1 Q3/9M 2026 RESULTS ANALYST / INVESTOR PRESENTATION Christian Levin, CEO Dr. Michael Jackstein, CFO & CHRO 28/10/2026
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Investor Relations AGENDA 28/10/2026 Q3/9M 2026 Results 2 1. Key results & highlights 2. Financial performance & outlook 3. Backup
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Investor Relations 28/10/2026 Q3/9M 2026 Results 3 This presentation has been prepared for information purposes only. The presentation does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of Volkswagen AG, TRATON SE, or any company of the TRATON GROUP in any jurisdiction. Neither this presentation, nor any part of it, nor the fact of its distribution, shall form the basis of, or be relied on in connection with, any contractual commitment or investment decision in relation to the securities of Volkswagen AG, TRATON SE, or any company of the TRATON GROUP in any jurisdiction, nor does it constitute a recommendation regarding any such securities. The presentation as well as remarks, comments and explanations in this context contain forward-looking statements and information on the business development of the TRATON GROUP. These forward-looking statements and information reflect our current views about future events and are based on assumptions relating to the TRATON GROUP’s business and the development of the economies in the countries in which the TRATON GROUP is active. The TRATON GROUP has made such forward-looking statements on the basis of the information available to it and assumptions it believes to be reasonable. The forward-looking statements and information may involve risks and uncertainties, and actual results may differ materially from those forward-looking statements and/or any forecasts. This applies in particular, if any of these or other risks or uncertainties materialize, or if the assumptions underlying any of these statements prove incorrect. Any changes in significant parameters relating to these forward-looking statements, especially with regards to key markets in which the TRATON GROUP is active, or any significant shifts in exchange rates, market regulation, energy and other commodity prices or the supply with parts relevant to the TRATON GROUP will have a corresponding effect on the business development. In addition, there may also be departures from the expected business development if the factors influencing sustainable value enhancement and the risks and opportunities presented develop in a way other than currently expected, or if additional risks and opportunities or other factors emerge that affect the development of the business. TRATON SE does not assume any responsibility for updating forward-looking statements in this presentation. All statements with regard to markets or market position(s) of TRATON SE or any affiliated company or any of its competitors are estimates based on data available to the TRATON GROUP. The percentage figures shown may be subject to rounding differences. All figures are rounded, so minor discrepancies may arise from addition of those amounts. Due to different proportions and scaling in graphs, data shown in different graphs are not comparable. DISCLAIMER
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28/10/2026 Q3/9M 2026 Results 4 KEY RESULTS & HIGHLIGHTS Investor Relations
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Investor Relations 28/10/2026 Q3/9M 2026 Results 5 FURTHER ACCELERATION IN SALES MOMENTUM WITH MARGIN BENEFITS AND RAMP -UP HEADWINDS Unit sales Sales revenue Adjusted return on sales Net cash flow TRATON Operations Earnings per share1 Q3 2026 78,907 +10% YoY €11.3 bn +9% YoY 6.8% +0.4pp YoY €304 m +€330m YoY €3.35 +€2.70 YoY 9M 2026 230,436 +3% YoY €33.3 bn +3% YoY 6.9% +0.6pp YoY €35m +€7m YoY €5.21 +€3.14 YoY Incoming orders 71,203 +14% YoY 253,147 +25% YoY 1 Including €2.97 (9M) / €2.54 (Q3) per share from Sinotruk share placements and reclassification effects; absolute 9M pre-tax P&L effect of €1.7bn / €1.5bn (Q3)
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Investor Relations 28/10/2026 Q3/9M 2026 Results 6 Incoming orders & Unit sales (k units) BOOK -TO-BILL BELOW 1 AS RAMP -UP GAINS TRACTION 2019 10 20 30 40 50 60 70 80 90 100 110 120 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1Q1 62.5 71.4 Q2 Q3 Q4Q2 Q2 71.2 78.9 Q3 Q3Q1 EU27+3: ― Truck order intake only stable YoY in Q3 after a strong Q2 26; but Germany up 9% YoY in Q3 ― Truck unit sales slightly down (-1% YoY) in Q3 with still weak German sales North America: ― Truck order intake up 35% YoY in Q3, despite a 48% QoQ decline amid EPA-related uncertainty and seasonal effects ― Strong orders from previous quarters now translating into truck unit sales, up 65% YoY in Q3 (and +24% QoQ) South America: ― Truck order intake up 10% YoY in Q3 (-4% QoQ); benefits from Move Brasil are fading ― Truck unit sales up 10% in Q3 YoY (+5% QoQ), supported by order momentum from previous quarters Incoming orders Unit sales B-t-B Truck 0.90 Bus 0.84 TGE 1.02 2020 2021 2022 2023 2024 2025 2026
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Investor Relations IMPROVED VISIBILITY SUPPORTS REFINED REGIONAL MARKET OUTLOOKS 28/10/2026 Q3/9M 2026 Results 7 1 EU27+3 region (EU27 countries without Malta, plus the United Kingdom, Norway, and Switzerland) 2 USA and Canada class 6-8, Mexico class 4-8 EU27+31 (k units, >6t) 2026e: +2.5% – +7.5% (midpoint +5.0%) (narrowed from -2.5% - +7.5%) North America2 (k units, class 6-8) 2026e: +2.5% – +10% (midpoint +6.25%) (narrowed from 0% - +10%) 10 12 14 16 18 20 22 24 26 0 100 200 300 400 500 > 6t ≥16t 10 12 14 16 18 20 22 24 26 0 100 200 300 400 500 Class 6-8 Class 8 10 12 14 16 18 20 22 24 26 0 300 600 900 1.200 1.500 1.800 > 6t ≥16t South America (k units, >6t) 2026e: -2.5% – +2.5% (midpoint 0%) (narrowed and increased from -10% – 0%) China (k units, >6t) 2026e: 0% – +10 (midpoint +5.0%) (increased from -5% – +5%) 2 2025: 336 k 2026e: 345 –361k 2025: 296 k 2026e: 303 –318k 2025: 363 k 2026e: 372 –400k 2025: 259 k 2026e: 266 –285k 2025: 180k 2026e: 176 –185 k 2025: 132 k 2026e: 129 –136 k 2025: 861 k 2026e: 861 –947 k 2025: 792 k 2026e: 792 – 871 k 10 12 14 16 18 20 22 24 26 0 100 200 300 400 500 > 6t ≥16t
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Investor Relations STRENGTHENING CUSTOMER VALUE PROPOSITIONS ACROSS THE GROUP 28/10/2026 Q3/9M 2026 Results 8 TRATON GROUP plans to integrate Red Hat’s In-Vehicle Operating System into TRATON ONE OS, making future vehicle functions easier to update and secure. Scania launches Scania Dynamic, enhancing energy efficiency and the driver environment across BEV and ICE products to support customer productivity. MAN and network partners invest ~€700m in the European sales and service network by 2030 to strengthen customer proximity, service and e-mobility capabilities. International launches Fleetrite.com, an e-commerce site giving customers 24/7 access to the entire breadth of the International parts portfolio. VWTB enters the light commercial vehicle segment, broadening its customer offering through a strategic partnership with SAIC. TFS continues to expand geographically, extending integrated financial services to a broader customer base, with MAN FS now present in 19 countries.
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Investor Relations 28/10/2026 Q3/9M 2026 Results 9 Unit sales of fully electric vehicles (units) Incoming orders of fully electric vehicles (units) RISING BEV DEMAND SUPPORTED BY BROADER PORTFOLIO Q3 26 766 -6% YoY 9M 26 2,673 +29% YoY Q3 26 1,049 +57% YoY 9M 26 3,196 +49% YoY
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28/10/2026 Q3/9M 2026 Results 10 FINANCIAL PERFORMANCE & OUTLOOK Investor Relations
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Investor Relations 2.2 Q3 25 2.2 Q4 25 2.3 Q1 26 2.2 Q2 26 2.3 Q3 26 10.4 11.7 10.2 11.8 11.3 Unit sales (k units) Sales revenue (€ bn) Vehicle Services business 28/10/2026 Q3/9M 2026 Results 11 STRONG Q3 UNIT GROWTH SUPPORTS YEAR -TO-DATE PERFORMANCE Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 71.4 81.0 68.6 82.9 78.9 ― Q3 unit sales up by 10%, mainly driven by: ― Strong increase in NA unit sales (+43% YoY) driven by improving freight economics and replacement demand ― Increased unit sales (+4% YoY) in SA supported by Move Brasil program ― Ramp-up of China unit sales (+421% YoY) in new production hub ― Offset by: decreased EU27+3 unit sales (-3% YoY), mainly reflecting a softer bus business ― Q3 sales revenue up by 9%, supported by: ― Increase in new vehicle sales with positive price/mix ― Continued strong TFS growth (+25% YoY) ― Solid vehicle services performance (+6% YoY) 9M 26 33.3 (+3%) 9M 26 230,436 (+3%) +10% +9%
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Investor Relations Adjusted operating result (€ m) 28/10/2026 Q3/9M 2026 Results 12 734 582 957 772 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 668 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 6.4 6.3 5.7 8.1 6.8 Adjusted return on sales (%) STRONGER VOLUMES SUPPORT MARGIN RECOVERY, WHILE COST HEADWINDS PERSIST Increase in Q3 adj. RoS YoY due to: ― Higher unit sales ― Improved fixed cost absorption ― Positive price/mix ― Supportive Service businesses Negative Q3 effects from: ― Tariff costs ― Production ramp-up costs ― Foreign currency headwinds ― Pressure from Iran-related input costs 9M 26 6.9% (+0.6pp) 9M 26 2,311 (+13%) +16% +0.4pp
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Investor Relations 28/10/2026 Q3/9M 2026 Results 13 Q3 26 Sales revenue (in € m, YoY) Adj. operating result (in € m, YoY) Adj. RoS (YoY) Key drivers − Sales revenue up mainly driven by China (NEXT ERA) and Brazil unit sales − Positive price/mix − Increased Vehicle Services business − Currency headwinds on RoS − Margin pressure from China operations − Sales revenue stable, with truck unit sales up and bus unit sales down − Ongoing BEV-momentum for e-Trucks − Increased Vehicle Services business − Ongoing cost management − Higher input costs (Iran- related incl. raw materials) − Sales revenue up due to strongly increased truck unit sales in the US − Positive price/mix − US tariff costs − Production ramp-up costs − Sales revenue up driven by “Move Brasil” − Negative effect from revised dealer floor plan accounting − Higher production costs − Sales revenue up driven by increased portfolio volume (esp. MAN, VWTB) − Improved profitability in the core financing business − Partly offset by higher operating expenses for the business ramp-up and higher risk costs TRATON Operations1 1 TRATON Operations including consolidation effects; brands/segments delta vs. restated previous year “management view” 2 Return on Equity (9M 26) is calculated as the ratio of earnings before tax to average equity of the 9M 26 period, whereas earnings before tax are extrapolated from the 9M 26 period to the full fiscal year on a straight-line basis GROWTH BROADENING ACROSS BRANDS AND FINANCIAL SERVICES 10,852 (+9%) 4,414 (+5%) 3,358 (-0%) 2,474 (+36%) 765 (+11%) 668 (+25%) 7.6% (+0.2pp) 12.3% (+1.2pp) 4.6% (+0.1pp) 2.5% (+1.7pp) 10.1% (-1.2pp) 10.0% (Return on Equity2) (+0.9pp) 829 (+12%) 542 (+16%) 154 (+2%) 61 (+319%) 77 (-1%) 79 (+36%)
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Investor Relations 28/10/2026 Q3/9M 2026 Results 14 Net liquidity/net debt bridge, 9M 2026 (€ m) SINOTRUK PROCEEDS SUPPORT NET DEBT REDUCTION AMID SEASONAL CASH FLOW PATTERN Net debt decreased by €95m -465 Net liquidity/ net debt TO incl. CI 31/12/25 3,398 Gross cash flow TO Change in working capital TO Net cash flow from investing activities TO Dividend payout CI 524 Other change cash flow TO incl. CI Net liquidity/ net debt TO incl. CI 30/09/26 -5,162 -1,525 -1,838 -5,067 Net cash flow TO: €+35m 2 = TRATON Operations = Corporate Items TO CI ― Net cash flow of TRATON Operations in 9M 2026 characterized by: ― Improved operating performance ― Working capital build-up ― Investing cash flow, therein capex ~€820m and capitalized R&D1 ~€980m ― Net debt of TRATON Operations incl. Corporate Items decreased vs. end of 2025 driven by: ― Slightly positive net cash flow ― Dividend payout … ― … within Corporate Items overcompensated by Sinotruk sale (Sep YTD proceeds of €745m) €+60m 1 Total R&D 9M 2026 €2.1bn (capitalized + directly expensed R&D) 2 Includes additions of IFRS 16 right of use assets, internal profit transfers, capital contributions, F/X effects and other changes in CI net liquidity/net debt and proceeds from sale of Sinotruk Sinotruk effects ― 9M 2026 EPS of €5.21 includes €2.97 from Sinotruk tranches I–III and valuation effects ― Does not reflect the underlying performance of the business ― Intended to be excluded when determining the dividend proposal ― Net debt zero target remains highest priority
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28/10/2026 Q3/9M 2026 Results MOMENTUM SUPPORTS FULL - YEAR OUTLOOK FY 2025 Actuals FY 2026 Outlook (since Q2 results) TRATON GROUP Unit sales (units) 305,486 0 to +7% Sales revenue (€ million) 44,052 0 to +7% Operating return on sales (adjusted) (in %) 6.3 6.3 to 7.3 TRATON Operations Sales revenue (€ million) 42,536 0 to +7% Operating return on sales (adjusted) (in %) 7.3 7.1 to 8.1 Net cash flow (€ million) 1,643 900 to 1,700 TRATON Financial Services Return on equity (in %) 8.0 8.0 to 11.0 The outlook is based on the tariff situation prevailing at the end of 2025 (IEEPA, Steel/Aluminum, S-232). The outlook is subject to geopolitical risks particularly unexpected impacts of US trade policy and effects of the current Iran war.
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28/10/2026 Q3/9M 2026 Results 16 BACKUP Investor Relations
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Investor Relations 28/10/2026 Q3/9M 2026 Results 17 TRATON OPERATIONS – INCOMING ORDERS Incoming orders (units) Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26 Q2 26 Q3 26 Q3 QoQ Q3 YoY TRATON Operations 66,434 58,982 64,353 73,806 263,575 74,307 65,292 62,512 79,214 281,325 87,775 94,169 71,203 -24% 14% Trucks 53,034 45,098 50,823 59,564 208,519 58,891 52,500 50,426 62,426 224,243 71,100 78,223 57,538 -26% 14% Buses 8,151 7,789 8,313 7,982 32,235 7,754 6,253 5,772 8,153 27,932 8,067 7,854 6,095 -22% 6% MAN TGE vans 5,249 6,095 5,217 6,260 22,821 7,662 6,539 6,314 8,635 29,150 8,608 8,092 7,570 -6% 20% Scania Vehicles & Services 20,171 19,234 17,008 24,599 81,012 24,762 20,393 20,492 26,704 92,351 27,318 28,743 20,098 -30% -2% Trucks 18,927 17,761 15,335 22,902 74,925 23,142 18,772 19,275 24,973 86,162 26,161 27,619 19,156 -31% -1% Buses 1,244 1,473 1,673 1,697 6,087 1,620 1,621 1,217 1,731 6,189 1,157 1,124 942 -16% -23% MAN Truck & Bus 18,682 18,112 18,064 22,250 77,108 27,978 24,507 20,130 27,346 99,961 27,851 27,605 23,154 -16% 15% Trucks 11,941 9,942 11,534 14,541 47,958 18,294 16,751 12,640 17,144 64,829 17,586 18,196 14,578 -20% 15% Buses 1,492 2,075 1,313 1,449 6,329 2,022 1,217 1,176 1,567 5,982 1,657 1,317 1,006 -24% -14% MAN TGE vans 5,249 6,095 5,217 6,260 22,821 7,662 6,539 6,314 8,635 29,150 8,608 8,092 7,570 -6% 20% International Motors 17,512 9,866 15,396 13,842 56,616 12,285 8,952 10,674 14,266 46,177 22,235 25,556 15,508 -39% 45% Trucks 13,594 7,833 11,795 11,175 44,397 9,691 7,416 8,760 10,880 36,747 18,859 22,924 12,526 -45% 43% Buses 3,918 2,033 3,601 2,667 12,219 2,594 1,536 1,914 3,386 9,430 3,376 2,632 2,982 13% 56% Volkswagen Truck & Bus 10,085 11,773 13,887 13,120 48,865 9,363 11,461 11,240 10,924 42,988 10,390 12,294 12,457 1% 11% Trucks 8,573 9,564 12,161 10,951 41,249 7,845 9,568 9,751 9,436 36,600 8,494 9,500 11,292 19% 16% Buses 1,512 2,209 1,726 2,169 7,616 1,518 1,893 1,489 1,488 6,388 1,896 2,794 1,165 -58% -22% Consolidation -16 -3 -2 -5 -26 -81 -21 -24 -26 -152 -19 -29 -14 52% -42% TRATON Operations 66,434 58,982 64,353 73,806 263,575 74,307 65,292 62,512 79,214 281,325 87,775 94,169 71,203 -24% 14% of which all-electric vehicles 736 970 658 1,487 3,851 866 608 669 680 2,823 1,252 895 1,049 17% 57% in % of total 1.1% 1.6% 1.0% 2.0% 1.5% 1.2% 0.9% 1.1% 0.9% 1.0% 1.4% 1.0% 1.5% 55% 38% Trucks 53,034 45,098 50,823 59,564 208,519 58,891 52,500 50,426 62,426 224,243 71,100 78,223 57,538 -26% 14% of which all-electric vehicles 165 261 254 521 1,201 466 203 309 500 1,478 480 652 736 13% 138% Buses 8,151 7,789 8,313 7,982 32,235 7,754 6,253 5,772 8,153 27,932 8,067 7,854 6,095 -22% 6% of which all-electric vehicles 533 672 382 953 2,540 399 393 357 175 1,324 772 242 315 30% -12% MAN TGE vans 5,249 6,095 5,217 6,260 22,821 7,662 6,539 6,314 8,635 29,150 8,608 8,092 7,570 -6% 20% of which all-electric vehicles 38 37 22 13 110 1 12 3 5 21 0 1 (2) (>100%) -167% Figures for all-electric vehicles may differ slightly from previously reported figures due to minor adjustments to prior-year figures
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Investor Relations 28/10/2026 Q3/9M 2026 Results 18 TRATON OPERATIONS – INCOMING ORDERS BY REGION Incoming orders (units) Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26 Q2 26 Q3 26 Q3 QoQ Q3 YoY Trucks 53,034 45,098 50,823 59,564 208,519 58,891 52,500 50,426 62,426 224,243 71,100 78,223 57,538 -26% 14% EU27+3 18,123 16,454 18,041 25,373 77,991 29,347 23,722 22,282 30,683 106,034 29,008 29,228 22,258 -24% 0% Germany 5,091 3,963 5,125 5,966 20,145 7,980 6,321 5,349 6,842 26,492 7,035 6,183 5,851 -5% 9% North America 14,727 8,471 12,633 12,362 48,193 9,584 7,632 8,800 11,082 37,098 18,814 22,700 11,851 -48% 35% USA/Canada 12,233 5,374 11,156 10,167 38,930 8,017 5,928 7,526 9,015 30,486 17,203 20,125 10,679 -47% 42% Mexico 2,494 3,097 1,477 2,195 9,263 1,567 1,704 1,274 2,067 6,612 1,611 2,575 1,172 -54% -8% South America 13,627 15,030 15,149 15,280 59,086 11,994 13,767 14,414 13,400 53,575 14,966 16,533 15,881 -4% 10% Brazil 11,828 13,004 12,439 11,881 49,152 8,747 10,141 10,484 10,675 40,047 11,639 12,757 11,616 -9% 11% China 228 245 223 292 988 333 125 372 643 1,473 257 2,467 855 -65% 130% Other regions 6,329 4,898 4,777 6,257 22,261 7,633 7,254 4,558 6,618 26,063 8,055 7,295 6,693 -8% 47% Bus 8,151 7,789 8,313 7,982 32,235 7,754 6,253 5,772 8,153 27,932 8,067 7,854 6,095 -22% 6% EU27+3 1,663 2,132 1,371 1,388 6,554 1,982 1,308 1,289 1,814 6,393 1,764 1,416 1,069 -25% -17% Germany 322 478 387 298 1,485 395 373 331 511 1,610 425 389 315 -19% -5% North America 4,198 2,428 4,187 3,468 14,281 2,803 1,647 2,026 3,735 10,211 3,700 2,877 3,136 9% 55% USA/Canada 3,548 1,672 3,507 2,630 11,357 2,574 1,536 1,829 3,219 9,158 3,027 2,487 2,944 18% 61% Mexico 650 756 680 838 2,924 229 111 197 516 1,053 673 390 192 -51% -3% South America 1,637 2,518 2,152 2,260 8,567 1,976 2,492 1,747 1,898 8,113 2,019 3,172 1,410 -56% -19% Brazil 1,310 2,025 1,759 1,701 6,795 1,396 1,941 1,417 1,420 6,174 1,711 2,735 1,099 -60% -22% Other regions 653 711 603 866 2,833 993 806 710 706 3,215 584 389 480 23% -32% MAN TGE vans 5,249 6,095 5,217 6,260 22,821 7,662 6,539 6,314 8,635 29,150 8,608 8,092 7,570 -6% 20% EU27+3 5,111 6,033 5,148 6,108 22,400 7,544 6,320 6,114 8,412 28,390 8,280 7,877 7,241 -8% 18% Germany 1,327 1,652 1,771 2,123 6,873 2,373 1,963 2,164 2,880 9,380 2,590 2,536 2,834 12% 31% Other regions 138 62 69 152 421 118 219 200 223 760 328 215 329 53% 65%
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Investor Relations 28/10/2026 Q3/9M 2026 Results 19 TRATON OPERATIONS – UNIT SALES Unit sales (units) Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26 Q2 26 Q3 26 Q3 QoQ Q3 YoY TRATON Operations 81,148 78,962 85,274 88,831 334,215 73,090 79,996 71,429 80,971 305,486 68,604 82,925 78,907 -5% 10% Trucks 68,772 63,600 72,861 72,897 278,130 57,566 63,742 54,929 63,546 239,783 53,535 65,060 64,220 -1% 17% Buses 5,032 7,988 7,823 7,570 28,413 8,328 8,390 8,833 8,808 34,359 7,514 9,433 7,264 -23% -18% MAN TGE vans 7,344 7,374 4,590 8,364 27,672 7,196 7,864 7,667 8,617 31,344 7,555 8,432 7,423 -12% -3% Scania Vehicles & Services 26,496 25,802 21,757 28,014 102,069 22,244 24,602 21,545 25,682 94,073 20,978 26,274 22,086 -16% 3% Trucks 25,388 24,333 20,313 26,409 96,443 20,663 23,057 19,768 24,100 87,588 19,484 24,721 20,862 -16% 6% Buses 1,108 1,469 1,444 1,605 5,626 1,581 1,545 1,777 1,582 6,485 1,494 1,553 1,224 -21% -31% MAN Truck & Bus 24,030 25,322 19,863 26,822 96,037 20,613 26,421 24,638 29,970 101,642 23,600 27,339 24,456 -11% -1% Trucks 15,188 16,492 14,595 17,380 63,655 12,036 16,707 15,304 19,249 63,296 14,583 17,097 15,705 -8% 3% Buses 1,498 1,456 678 1,078 4,710 1,381 1,850 1,667 2,104 7,002 1,462 1,830 1,328 -27% -20% MAN TGE vans 7,344 7,374 4,590 8,364 27,672 7,196 7,864 7,667 8,617 31,344 7,555 8,412 7,423 -12% -3% International Motors 19,280 16,032 31,460 23,790 90,562 16,889 17,621 13,442 15,780 63,732 13,326 16,162 19,936 23% 48% Trucks 18,674 13,143 27,281 20,202 79,300 13,702 14,628 9,753 12,029 50,112 10,413 13,130 16,483 26% 69% Buses 606 2,889 4,179 3,588 11,262 3,187 2,993 3,689 3,751 13,620 2,913 3,032 3,453 14% -6% Volkswagen Truck & Bus 11,539 11,853 12,350 10,104 45,846 13,410 11,369 11,883 9,509 46,171 10,787 13,060 12,471 -5% 5% Trucks 9,707 9,679 10,828 8,804 39,018 11,231 9,355 10,157 8,119 38,862 9,122 10,042 11,199 12% 10% Buses 1,832 2,174 1,522 1,300 6,828 2,179 2,014 1,726 1,390 7,309 1,665 3,018 1,272 -58% -26% Consolidation -197 -47 -156 101 -299 -66 -17 -79 30 -132 -87 90 -42 (>100%) -47% TRATON Operations 81,148 78,962 85,274 88,831 334,215 73,090 79,996 71,429 80,971 305,486 68,604 82,925 78,907 -5% 10% of which all-electric vehicles 315 290 526 608 1,739 621 629 815 1,161 3,226 857 1,050 766 -27% -6% in % of total 0.4% 0.4% 0.6% 0.7% 0.5% 0.8% 0.8% 1.1% 1.4% 1.1% 1.2% 1.3% 1.0% -23% -15% Trucks 68,772 63,600 72,861 72,897 278,130 57,566 63,742 54,929 63,546 239,783 53,535 65,060 64,220 -1% 17% of which all-electric vehicles 130 69 107 124 430 259 141 262 619 1,281 456 431 502 16% 92% Buses 5,032 7,988 7,823 7,570 28,413 8,328 8,390 8,833 8,808 34,359 7,514 9,433 7,264 -23% -18% of which all-electric vehicles 158 201 371 460 1,190 359 479 549 536 1,923 401 619 263 -58% -52% MAN TGE vans 7,344 7,374 4,590 8,364 27,672 7,196 7,864 7,667 8,617 31,344 7,555 8,412 7,423 -12% -3% of which all-electric vehicles 27 20 48 24 119 3 9 4 6 22 0 0 1 N/A -75% Figures for all-electric vehicles may differ slightly from previously reported figures due to minor adjustments to prior-year figures
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Investor Relations 28/10/2026 Q3/9M 2026 Results 20 TRATON OPERATIONS – UNIT SALES BY REGION Unit sales (units) Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26 Q2 26 Q3 26 Q3 QoQ Q3 YoY Trucks 68,772 63,600 72,861 72,897 278,130 57,566 63,742 54,929 63,546 239,783 53,535 65,060 64,220 -1% 17% EU27+3 27,878 26,795 22,231 27,617 104,521 22,068 27,125 23,795 30,882 103,870 25,058 27,369 23,523 -14% -1% Germany 6,624 7,247 5,965 7,068 26,904 5,343 7,088 6,020 8,365 26,816 5,772 6,082 6,005 -1% 0% North America 19,246 13,943 27,863 21,146 82,198 14,115 14,854 9,977 11,991 50,937 10,663 13,211 16,428 24% 65% USA/Canada 15,945 11,299 22,771 16,339 66,354 12,489 13,236 8,290 9,764 43,779 8,898 11,498 14,471 26% 75% Mexico 3,301 2,644 5,092 4,807 15,844 1,626 1,618 1,687 2,227 7,158 1,765 1,713 1,957 14% 16% South America 14,488 15,930 16,251 15,588 62,257 15,646 14,197 14,796 13,128 57,767 12,079 15,418 16,242 5% 10% Brazil 12,387 14,093 13,662 12,158 52,300 13,066 10,751 10,466 9,788 44,071 9,674 12,232 12,768 4% 22% China 248 254 241 290 1,033 170 230 300 641 1,341 392 1,356 1,563 15% 421% Other regions 6,912 6,678 6,275 8,256 28,121 5,567 7,336 6,061 6,904 25,868 5,343 7,706 6,464 -16% 7% Bus 5,032 7,988 7,823 7,570 28,413 8,328 8,390 8,833 8,808 34,359 7,514 9,433 7,264 -23% -18% EU27+3 1,427 1,515 766 1,204 4,912 1,517 1,803 1,766 2,035 7,121 1,513 2,080 1,348 -35% -24% Germany 370 332 92 101 895 213 461 435 580 1,689 356 508 430 -15% -1% North America 986 3,493 4,538 3,857 12,874 3,654 3,383 4,051 4,092 15,180 3,323 3,295 3,661 11% -10% USA/Canada 151 2,718 3,734 3,108 9,711 3,186 2,987 3,689 3,744 13,606 2,787 2,663 3,302 24% -10% Mexico 835 775 804 749 3,163 468 396 362 348 1,574 536 632 359 -43% -1% South America 1,980 2,175 1,978 1,766 7,899 2,519 2,387 2,313 1,703 8,922 1,897 3,369 1,594 -53% -31% Brazil 1,602 1,886 1,649 1,109 6,246 2,079 1,883 1,737 1,162 6,861 1,527 2,949 1,239 -58% -29% Other regions 639 805 541 743 2,728 638 817 703 978 3,136 781 689 661 -4% -6% MAN TGE vans 7,344 7,374 4,590 8,364 27,672 7,196 7,864 7,667 8,617 31,344 7,555 8,432 7,423 -12% -3% EU27+3 7,283 7,197 4,505 8,254 27,239 7,080 7,690 7,451 8,351 30,572 7,370 8,114 7,208 -11% -3% Germany 2,262 2,361 1,474 2,272 8,369 2,406 2,671 2,573 2,902 10,552 2,245 2,661 2,519 -5% -2% Other regions 61 177 85 110 433 116 174 216 266 772 185 318 215 -32% 0%
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Investor Relations 28/10/2026 Q3/9M 2026 Results 21 TRATON GROUP – SALES REVENUE 1 Including genuine parts and workshop services Sales revenue (€ m) Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26 Q2 26 Q3 26 Q3 QoQ Q3 YoY TRATON GROUP 11,798 11,589 11,866 12,220 47,473 10,606 11,300 10,416 11,729 44,052 10,231 11,764 11,327 -4% 9% TRATON Operations 11,477 11,282 11,507 11,916 46,182 10,325 10,868 9,992 11,351 42,536 9,779 11,309 10,852 -4% 9% Scania Vehicles & Services 4,879 4,819 4,213 4,995 18,907 4,361 4,550 4,223 4,812 17,945 4,203 4,883 4,414 -10% 5% MAN Truck & Bus 3,516 3,536 3,037 3,563 13,652 3,078 3,538 3,368 4,111 14,095 3,309 3,673 3,358 -9% 0% International Motors 2,430 2,244 3,582 2,860 11,116 2,173 2,205 1,822 1,969 8,169 1,768 2,060 2,474 20% 36% Volkswagen Truck & Bus 773 786 769 590 2,918 814 684 692 578 2,768 665 837 765 -9% 11% TRATON Financial Services 453 468 488 522 1,932 530 532 535 590 2,188 598 642 668 4% 25% Corporate Items -132 -161 -129 -219 -642 -249 -101 -111 -212 -672 -145 -186 -193 -4% 74% TRATON GROUP 11,798 11,589 11,866 12,220 47,473 10,606 11,300 10,416 11,729 44,052 10,231 11,764 11,327 -4% 9% TRATON Operations 11,477 11,282 11,507 11,916 46,182 10,325 10,868 9,992 11,351 42,536 9,779 11,309 10,852 -4% 9% New vehicles 7,926 7,777 8,133 8,366 32,202 6,903 7,534 6,606 7,898 28,941 6,295 7,842 7,242 -8% 10% Vehicle Services business1 2,221 2,154 2,175 2,201 8,751 2,248 2,122 2,186 2,186 8,742 2,269 2,206 2,325 5% 6% Other 1,330 1,352 1,199 1,349 5,230 1,174 1,212 1,200 1,267 4,853 1,214 1,261 1,285 2% 7% TRATON Financial Services 453 468 488 522 1,932 530 532 535 590 2,188 598 642 668 4% 25% Corporate Items -132 -161 -129 -219 -642 -249 -101 -111 -212 -672 -145 -186 -193 -4% 74%
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Investor Relations 28/10/2026 Q3/9M 2026 Results 22 TRATON GROUP – OPERATING RESULT & RETURN ON SALES Operating result (€ m) Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26 Q2 26 Q3 26 Q3 QoQ Q3 YoY TRATON GROUP 1,057 1,008 1,038 1,106 4,209 651 607 465 703 2,426 60 914 751 -18% 61% TRATON Operations 1,139 1,142 1,130 1,189 4,601 762 706 538 740 2,745 153 976 807 -17% 50% Scania Vehicles & Services 699 732 552 710 2,692 491 437 409 521 1,858 345 554 534 -4% 31% MAN Truck & Bus 244 287 124 197 853 131 163 135 321 751 47 199 127 -36% -6% International Motors 109 43 368 205 724 35 47 -113 -111 -143 -283 133 75 -44% -166% Volkswagen Truck & Bus 84 99 93 70 346 106 87 78 51 323 68 91 77 -15% -1% TRATON Financial Services 63 46 49 47 205 46 39 58 23 167 52 49 79 62% 36% Corporate Items -145 -180 -142 -130 -597 -156 -138 -132 -60 -486 -144 -111 -136 -23% 3% Return on sales (%) Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26 Q2 26 Q3 26 Q3 QoQ Q3 YoY TRATON GROUP 9.0 8.7 8.7 9.1 8.9 6.1 5.4 4.5 6.0 5.5 0.6 7.8 6.6 -1.1pp 2.2pp TRATON Operations 9.9 10.1 9.8 10.0 10.0 7.4 6.5 5.4 6.5 6.5 1.6 8.6 7.4 -1.2pp 2.1pp Scania Vehicles & Services 14.3 15.2 13.1 14.2 14.2 11.3 9.6 9.7 10.8 10.4 8.2 11.4 12.1 0.7pp 2.4pp MAN Truck & Bus 6.9 8.1 4.1 5.5 6.2 4.2 4.6 4.0 7.8 5.3 1.4 5.4 3.8 -1.6pp -0.2pp International Motors 4.5 1.9 10.3 7.2 6.5 1.6 2.1 -6.2 -5.7 -1.8 -16.0 6.4 3.0 -3.4pp 9.2pp Volkswagen Truck & Bus 10.9 12.6 12.1 11.8 11.9 13.0 12.8 11.3 8.9 11.7 10.2 10.9 10.1 -0.8pp -1.2pp TRATON Financial Services 13.9 9.7 10.1 9.0 10.6 8.7 7.3 10.9 3.9 7.6 8.7 7.7 11.9 4.2pp 1.0pp
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Investor Relations 28/10/2026 Q3/9M 2026 Results 23 TRATON GROUP – ADJ. OPERATING RESULT & ADJ. RETURN ON SALES Adj. operating result (€ m) Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26 Q2 26 Q3 26 Q3 QoQ Q3 YoY TRATON GROUP 1,106 1,015 1,140 1,123 4,384 646 725 668 734 2,773 582 957 772 -19% 16% TRATON Operations 1,188 1,149 1,233 1,206 4,776 756 824 741 771 3,092 674 1,019 829 -19% 12% Scania Vehicles & Services 727 739 618 717 2,801 483 446 468 529 1,926 463 567 542 -4% 16% MAN Truck & Bus 265 287 160 207 919 133 273 151 347 904 239 247 154 -38% 2% International Motors 109 43 368 205 724 35 47 15 -87 9 -71 115 61 -46% 319% Volkswagen Truck & Bus 84 99 93 70 346 106 87 78 51 323 68 91 77 -15% -1% TRATON Financial Services 63 46 49 47 205 46 39 58 23 167 52 49 79 62% 36% Corporate Items -145 -180 -142 -130 -597 -156 -138 -132 -60 -486 -144 -111 -136 -23% 3% Adj. return on sales (%) Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26 Q2 26 Q3 26 Q3 QoQ Q3 YoY TRATON GROUP 9.4 8.8 9.6 9.2 9.2 6.1 6.4 6.4 6.3 6.3 5.7 8.1 6.8 -1.3pp 0.4pp TRATON Operations 10.4 10.2 10.7 10.1 10.3 7.3 7.6 7.4 6.8 7.3 6.9 9.0 7.6 -1.4pp 0.2pp Scania Vehicles & Services 14.9 15.3 14.7 14.4 14.8 11.1 9.8 11.1 11.0 10.7 11.0 11.6 12.3 0.7pp 1.2pp MAN Truck & Bus 7.5 8.1 5.3 5.8 6.7 4.3 7.7 4.5 8.4 6.4 7.2 6.7 4.6 -2.2pp 0.1pp International Motors 4.5 1.9 10.3 7.2 6.5 1.6 2.1 0.8 -4.4 0.1 -4.0 5.6 2.5 -3.1pp 1.7pp Volkswagen Truck & Bus 10.9 12.6 12.1 11.8 11.9 13.0 12.8 11.3 8.9 11.7 10.2 10.9 10.1 -0.8pp -1.2pp TRATON Financial Services 13.9 9.7 10.1 9.0 10.6 8.7 7.3 10.9 3.9 7.6 8.7 7.7 11.9 4.2pp 1.0pp
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Investor Relations 28/10/2026 Q3/9M 2026 Results 24 TRATON OPERATIONS – CASH AND LIQUIDITY TRATON Operations (€ m) Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26 Q2 26 Q3 26 Q3 QoQ Q3 YoY Gross cash flow 1,423 1,452 1,398 1,536 5,809 935 1,036 1,099 1,197 4,267 657 1,404 1,337 -68 238 Change in working capital -561 -1,258 496 1,012 -311 -540 -158 -585 1,363 80 -350 -845 -331 514 255 Net cash provided by/used in operating activities 862 193 1,894 2,548 5,498 395 878 513 2,561 4,347 308 559 1,006 447 493 Net cash flow provided by/used in investing activities attributable to operating activities -424 -567 -615 -1,058 -2,663 -506 -713 -539 -946 -2,704 -558 -578 -702 -124 -162 Net cash flow 438 -374 1,279 1,491 2,834 -111 165 -26 1,615 1,643 -250 -18 304 322 330 Net liquidity/net financial debt (€ m) 31.3.24 30.6.24 30.9.24 31.12.24 31.3.25 30.6.25 30.9.25 31.12.25 31.3.26 30.6.26 30.9.26 vs. 31.12.25 TRATON Operations -985 -2,438 -1,114 -85 182 342 939 2,511 1,821 1,629 1,744 -767 TRATON Operations incl. Corporate Items -5,481 -6,956 -6,081 -4,903 -5,185 -6,125 -6,595 -5,162 -5,152 -5,513 -5,067 95
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Investor Relations 28/10/2026 Q3/9M 2026 Results 25 Maturity profile (€ bn)1 TRATON GROUP – DEBT MATURITY PROFILE (AS OF 30 SEPTEMBER 2026) 1 Excluding €1.3bn of IFRS 16 financial liabilities 2 TFL = TRATON Finance Luxembourg 3 CI = Corporate Items, OP = TRATON Operations, FS = TRATON Financial Services Major financings ― Total of €13.0bn (equivalent) TFL2 Bonds outstanding (tranches of 1y to 12y) ― €4.5bn syndicated RCF undrawn ― €50m Schuldschein outstanding (7y tranche) Debt overview (€ bn)3 TRATON financial debt 28.0 thereof CI/OP 7.8 thereof FS 20.2 Leasing (IFRS 16) 1.3 TRATON financial debt (incl. leasing) 29.3 0.7 1.6 1.7 2.1 0.6 0.8 3.3 6.9 4.4 2.8 2.1 1.0 4.0 8.4 6.0 4.8 2.7 1.5 0.0 0.8 0.0 2.0 4.0 6.0 8.0 10.0 12.0 2026 2027 2028 2029 2030 2031 2032 2033 TRATON Corporate Items and Operations TRATON Financial Services
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IR CONTACT AND EVENTS Marie Fischhaber Investor Relations +49 152 256 00 705 marie.fischhaber@traton.com Matthias Maucher Investor Relations +49 170 381 60 25 matthias.maucher@traton.com Thomas Paschen Investor Relations +49 170 907 34 94 thomas.paschen@traton.com Ursula Querette Head of Investor Relations +49 152 021 52 400 ursula.querette@traton.com 26 28-30 Oct 2026 Jefferies Post Q3 2026 Roadshow | Frankfurt & Virtual 10 Nov 2026 UBS European Conference | London 30 Nov 2026 Goldman Sachs Industrials & Autos Conference | London 11-12 Jan 2027 Commerzbank/ODDO BHF German Investment Seminar | New York 19 Jan 2027 Kepler Cheuvreux German Corporate Conference | Frankfurt Contacts Upcoming events Investor Relations26Q3/9M 2026 Results 28/10/2026