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MGX SERVICE GROVE B Manitowoc Second - Quarter 2026 Earnings Conference Call August 7 , 2026
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2 Forward-Looking Statements Safe Harbor Statement Any statements contained in this presentation that are not historical facts are “forward-looking statements.” These statements are based on the current expectations of the management of the Company, only speak as of the date on which they are made and are subject to uncertainty a nd changes in circumstances. The Company undertakes no obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise. As a general matter, forward-looking statements are those focused upon anticipated events or trends, expectations and beliefs relating to matters that are not historical in nature. The words “could,” “should,” “feel,” “anticipate,” “aim,” “preliminary,” “expect,” “believe,” “esti mate,” “intend,” “intent,” “plan,” “will,” “foresee,” “project,” “forecast,” or the negative thereof or variations thereon, and similar expressions identify forward- looking statements. By their nature, forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements. For a list of factors that could cause actual results to differ materially from those discussed or implied, please see the Company’s periodic filings with the SEC, particularly those disclosed in “Risk Factors” in the Company’s Annual Reports on Form 10-K. Any “forward-looking statements” in this presentation are intended to qualify for the safe harbor from liability under the Private Securities Litigation Reform Act of 1995. Non-GAAP Measures Adjusted net loss, adjusted diluted net loss per share (“Adjusted DEPS”), EBITDA, adjusted EBITDA, adjusted return on invested capital, and free cash flows are financial measures that are not in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). For a reconciliation to the comparable GAAP numbers please see “Appendix – GAAP to Non-GAAP Reconciliation.” Manitowoc believes these non-GAAP financial measures provide important supplemental information to both management and investors regarding financial and business trends used in assessing its results of operations. Manitowoc believes excluding specified items provides a more meaningful comparison to the corresponding reporting periods and internal budgets and forecasts, assists investors in performing analysis that is consistent with financial models developed by investors and research analysts, provides management with a more relevant measure of operating performance, and is more useful in assessing management performance.
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3 Second-quarter 2026 Summary STRONG EXECUTION BY THE MANITOWOC TEAM • Substantial improvement in safety -- June YTD RIR of 0.79 • Strong orders and backlog • Increased non-new machine sales • Net leverage below our target of 3x at 2.6x • Integration of AI into The Manitowoc Way • Favorable ruling on U.S. anti-dumping action for crawler cranes imported by Japanese manufacturers
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4 The Manitowoc Way: Continuous Improvement FOCUSING ON AFTERMARKET REVENUE STREAM AND INTEGRATING AI INTO KAIZEN Global Kaizen – Wilhelmshaven, Germany Potain eTech Implementation Design lifting and rigging procedures to: • Improve safety • Increase productivity Additional opportunities: • Engineer rigging equipment • Develop service kits • Transforms technical knowledge into an actionable assistant used for field service techs • Accelerate problem solving • Multilingual capability for global adaptation • Enable service leads with AI generated quotes • Expand to mobile crane applications
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5 The Manitowoc Way: Continuous Improvement ENTERPRISE-WIDE ADOPTION OF AI PRODUCING MEASURABLE IMPROVEMENTS 1 Windshield Glue Resourcing Cost Reduction & Business Recovery 24K€ → (-70%) Discontinued glue resourced to alternative supplier with significant cost savings 2 Anti-Climbing Kits Material Optimization & Grow Aftermarket Steel → Dibond Material Selected lightweight, corrosion-resistant Dibond aluminum material with cost advantages 3 Market Survey Market Price & Competitor Analysis 2 hrs. → 5 min (-96%) Manual web research replaced with faster time to market, enabled consistent competitive intelligence for pricing 4 PSSR - Scandinavia & Baltics Dealer Management Tool — Economic/Market Insights 1 hr. → 5 min (-92%) Automated economic data gathering for multiple countries, accelerating target-setting discussions with customers
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6 CRANES+50 Update MEANINGFULLY GROWING THE AFTERMARKET BUSINESS Deliver faster turnaround on: • Crawler crane lacings • Mobile crane jibs • Tower crane mast section repairs Rapid Response Shop Shady Grove Telescoping Boom Refurbishment Shady Grove Developed specialized fixture to: • Improve safety and productivity • Quick disassembly/re-assembly of booms • Replicate fixtures at key MGX and global service centers • Greenfield site established to pursue service work • 3-year, $2.5M service contract award from a major copper-zinc mine New Service Agreement Peru
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7 Market Conditions OVERALL POSITIVE CUSTOMER SENTIMENT AMERICAS - Healthy market conditions - Strong order intake - High crane utilization - Low dealer inventory EUROPE - Market conditions are mixed Additional government stimulus Inflation due to Iran conflict - Strong orders in Mobiles - Upward momentum in Towers MIDDLE EAST - Solid demand - Shipping challenges due to Strait of Hormuz closure - Continued project work in key GCC markets ASIA PACIFIC - Strength in S. Korea, Vietnam, and Australia - Robust end market demand into 2027
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8 Q2 2026 Financial & Other Key Metrics ($ in millions) OPERATIONAL PERFORMANCE EXCEEDED EXPECTATIONS *Q2 2026 includes a $12M benefit related to IEEPA tariff refunds
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9 Q2 2026 Financial & Other Key Metrics ($ in millions) LIQUIDITY REMAINS STRONG AT $304M
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10 2026 Full-Year Guidance – Updated ($ in millions) MANITOWOC RAISES GUIDANCE ON STRONG OPERATIONAL PERFORMANCE Updated Guidance Prior Guidance Net Sales $2.3 to $2.4 billion $2.25 to $2.35 billion Adjusted EBITDA $150 to $170 million, incl. $16 million net benefit from tariff refunds $125 to $150 million Depreciation and Amortization $60 million $60 million Interest Expense $35 to $38 million $35 to $38 million Provision for Income Tax Expense $17 to $24 million, excluding one-time items $11 to $15 million, excluding one-time items Adjusted DEPS $0.80 to $1.20 $0.45 to $0.90 Capital Expenditures $45 to $50 million, $25 million related to the rental fleet $45 to $50 million, $25 million related to the rental fleet Adjusted Free Cash Flows $50 to $70 million $40 to $65 million
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11 2026 Adjusted EBITDA Bridge ($ in millions) ADJUSTED EBITDA MIDPOINT INCREASING $22.5M
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12 Outlook POSITIVE MARKET OUTLOOK • Strong first-half 2026 • Backlog over $1 billion with end market strength • Robust new product pipeline • Continued advancement of CRANES+50 Strategy • Acceleration of The Manitowoc Way through the business with help of AI
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13 Congratulations to Brooke’s House https://brookeshouse.org
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Appendix
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15 Appendix – GAAP to Non-GAAP Reconciliation _____________________ Dollars in millions, excluding per share amounts Note: See full reconciliation of GAAP and Non- GAAP financial measures contained in our second- quarter earnings release As reported Adjustments Adjusted As reported Adjustments Adjusted Gross profit 123.1$ —$ 123.1$ 99.0$ —$ 99.0$ Engineering, selling, and administrative expenses (90.4) 2.0 (88.4) (87.4) — (87.4) Amortization of intangible assets (0.8) — (0.8) (0.8) — (0.8) Restructuring expense (0.8) 0.8 — (1.0) 1.0 — Operating income 31.1 2.8 33.9 9.8 1.0 10.8 Interest expense (9.2) — (9.2) (9.2) — (9.2) Amortization of deferred financing fees (0.3) — (0.3) (0.3) — (0.3) Other income (expense) - net (0.2) — (0.2) 1.0 0.6 1.6 Income before income taxes 21.4 2.8 24.2 1.3 1.6 2.9 (Provision) benefit for income taxes (7.2) (0.2) (7.4) 0.2 (0.3) (0.1) Net income (loss) 14.2$ 2.6$ 16.8$ 1.5$ 1.3$ 2.8$ Diluted weighted average common shares outstanding 36,529,556 36,529,556 35,823,866 35,823,866 Diluted net income per common share 0.39$ 0.46$ 0.04$ 0.08$ Three Months Ended June 30, 2026 2025
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16 Appendix – GAAP to Non-GAAP Reconciliation _____________________ Dollars in millions Note: See full reconciliation of GAAP and Non- GAAP financial measures contained in our second- quarter earnings release 2026 2025 2026 2025 Net income (loss) 14.2$ 1.5$ 8.2$ (4.8)$ 20.2$ Interest expense and amortization of deferred financing fees 9.5 9.5 18.8 18.6 39.4 Provision (benefit) for income taxes 7.2 (0.2) 3.9 (2.7) 11.8 Depreciation expense 14.2 14.7 28.3 29.5 58.7 Amortization of intangible assets 0.8 0.8 1.6 1.6 3.1 EBITDA 45.9 26.3 60.8 42.2 133.2 Restructuring expense 0.8 1.0 1.6 1.8 4.7 Other non-recurring items - net 2.0 — 2.8 — 2.8 Other (income) expense - net 0.2 (1.0) 3.3 4.0 1.5 Adjusted EBITDA 48.9$ 26.3$ 68.5$ 48.0$ 142.2$ Adjusted EBITDA margin percentage 8.2% 4.9% 6.3% 4.8% 6.4% Three Months Ended June 30, Trailing Twelve Months Six Months Ended June 30,
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17 Appendix – GAAP to Non-GAAP Reconciliation _____________________ Dollars in millions Note: See full reconciliation of GAAP and Non- GAAP financial measures contained in our second- quarter earnings release 2026 2025 2026 2025 Net cash provided by (used for) operating activities 8.0$ (67.7)$ 35.4$ (54.8)$ Capital expenditures (14.1) (6.0) (22.3) (16.8) Free cash flows (6.1)$ (73.7)$ 13.1$ (71.6)$ Three Months Ended June 30, Six Months Ended June 30,
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18 Appendix – Adjusted ROIC Calculation _____________________ Dollars in millions Note: See full reconciliation of GAAP and Non- GAAP financial measures contained in our second- quarter earnings release Trailing Twelve Months Ended June 30, 2026 Trailing Twelve Months Ended June 30, 2025 Operating income 72.9$ 38.8$ Amortization of intangible assets 3.1 3.0 Restructuring expense 4.7 3.5 Other non-recurring items - net 2.8 3.6 Adjusted operating income 83.5 48.9 Provision for income taxes (12.5) (7.3) Adjusted NOPAT 71.0$ 41.6$ 5-Quarter Average 5-Quarter Average Total assets 1,873.4$ 1,766.4$ Total liabilities (1,184.2) (1,131.9) Net total assets 689.2 634.6 Cash and cash equivalents (64.8) (36.7) Short-term borrowings and current portion of long-term debt 12.9 20.7 Long-term debt 456.8 410.3 Income tax assets - net (66.7) (43.8) Invested capital 1,027.4$ 985.1$ Adjusted ROIC 6.9% 4.2%
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Thank you for your interest Additional information: Ion Warner – SVP Marketing & Investor Relations (m) +1 414-760-4805 (c) +1 717-414-1813 ion.warner@manitowoc.com www.manitowoc.com