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Third-Quarter 2026 Earnings Conference Call November 4, 2026
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2 Forward-Looking Statements Safe Harbor Statement Forward-looking statements are those focused upon anticipated events or trends, expectations, and beliefs relating to matters that are not historical in nature, including statements regarding our anticipated financial results, market outlook, project work, and earnings potential bridge. 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 and 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,” “may”, “feel,” “anticipate,” “aim,” “preliminary,” “expect,” “believe,” “ estimate,” “intend,” “intent,” “plan,” “will,” “foresee,” “project,” “forecast,” or the negative thereof or variations thereon, and similar expressions identify for ward-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 risks, uncertainties, and other 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 risks, uncertainties, and other factors that could cause actual results and developments to differ materially from those expressed or implied, please see the Company’s periodic filings with the SEC, particularly those risks, uncertainties, and other factors disclosed under the heading “Risk Factors” in the Company’s Annual Reports on Form 10-K and subsequent Quarterly Reports on Form 10-Q. 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 income, adjusted diluted net income per share (“Adjusted DEPS”), EBITDA, adjusted EBITDA, adjusted operating income , 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 Third-quarter 2026 Summary STRONG EXECUTION $614M Net Sales $676M Orders $47M Adjusted EBITDA 7.7% Adjusted EBITDA Margin +39% Y/Y +11% Y/Y +150 bps Y/Y +38% Y/Y
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4 The Manitowoc Way: Continuous Improvement ELIMINATE WASTE AND IMPROVE SAFETY Hammer Elimination Baltar, Portugal Charlieu, France AI-assisted Machining Programming
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5 CRANES+50 Update Increase Aftermarket Portfolio • Melbourne, Brisbane, and Monterrey fully operational • Customer events scheduled in Australia in December • Mobile training launched at ConExpo 2026 • 8 classes completed; 3 additional classes scheduled • Modernizing ERP system in mobile business • Streamline processes to better serve our customers • Battery solutions and hoists that complement crane offerings • 400 attendees at MGX open house Increase Aftermarket Footprint Increase Aftermarket Team Leverage Technology
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6 Market Conditions MARKET DEMAND CONTINUES TO BE ROBUST AMERICAS - Strong market conditions driving orders - High crane utilization - Lean dealer inventory - Certain products sold out for ‘27 EUROPE - Mixed conditions France fragile Germany strengthening Rest of Europe strong MIDDLE EAST - Strong demand and continued project work - Risk remains related to Strait of Hormuz ASIA PACIFIC - Government stimulus in China - Strength in Australia and South Korea - bauma China in November ‘26
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7 Key Nuclear Projects in US and Europe NUCLEAR PROJECTS CATALYST FOR MULTIYEAR OPPORTUNITY FOR CRANE DEMAND Sources: IAEA PRIS (2026), World Nuclear Association (2026), U.S. NRC (2026) and government reports. Note: Selected projects shown. Not exhaustive. ~40 key reactor units in the U.S. and Europe pipeline of potential new capacity >400 GW
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8 Q3 2026 Financial & Other Key Metrics ($ in millions) STRONG ORDERS AND OPERATIONAL PERFORMANCE
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9 Q3 2026 Financial & Other Key Metrics ($ in millions) LEVERAGE BELOW 3.0X; BALANCE SHEET POSITIONED FOR GROWTH
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10 2026 Full-Year Guidance – Updated ($ in millions) MANITOWOC RAISES FULL-YEAR GUIDANCE Updated Guidance Previous Guidance Net Sales No change $2.3 to $2.4 billion Adjusted EBITDA $160 to $175 million $150 to $170 million Depreciation and Amortization No change $60 million Interest Expense No change $35 to 38 million Provision for Income Tax Expense No change $17 to 24 million, excluding one-time items Adjusted DEPS $0.90 to $1.25 $0.80 to $1.20 Capital Expenditures No change $45 to $50 million, $25 million related to the rental fleet Adjusted Free Cash Flows No change $50 to $70 million
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11 Takeaways TRANSFORMING THE COMPANY THROUGH CRANES+50 01 Backlog Above $1 Billion 02 Balance Sheet Positioned for Growth 03 Significant Earnings Potential
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12 2023 to 2026 and Beyond ($ in millions) STRONG UPSIDE POTENTIAL [A] [B] [C][B] [D] NNMS = Non-New Machine Sales
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Appendix
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14 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 third- quarter earnings release As reported Adjustments Adjusted As reported Adjustments Adjusted Gross profit 121.8$ —$ 121.8$ 102.6$ —$ 102.6$ Engineering, selling, and administrative expenses (88.9) 0.3 (88.6) (83.4) — (83.4) Amortization of intangible assets (0.7) — (0.7) (0.7) — (0.7) Restructuring expense (0.4) 0.4 — — — — Operating income 31.8 0.7 32.5 18.5 — 18.5 Interest expense (9.2) — (9.2) (9.8) — (9.8) Amortization of deferred financing fees (0.4) — (0.4) (0.4) — (0.4) Other expense - net (3.4) — (3.4) (0.8) — (0.8) Income before income taxes 18.8 0.7 19.5 7.5 — 7.5 Provision for income taxes (7.8) (0.2) (8.0) (2.5) — (2.5) Net income 11.0$ 0.5$ 11.5$ 5.0$ —$ 5.0$ Diluted weighted average common shares outstanding 36,898,489 36,898,489 36,264,880 36,264,880 Diluted net income per common share 0.30$ 0.31$ 0.14$ 0.14$ Three Months Ended September 30, 2026 2025
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15 Appendix – GAAP to Non-GAAP Reconciliation _____________________ Dollars in millions Note: See full reconciliation of GAAP and Non- GAAP financial measures contained in our third- quarter earnings release 2026 2025 Net income 11.0$ 5.0$ Interest expense and amortization of deferred financing fees 9.6 10.2 Provision for income taxes 7.8 2.5 Depreciation expense 14.2 14.9 Amortization of intangible assets 0.7 0.7 EBITDA 43.3 33.3 Restructuring expense 0.4 — Other non-recurring items - net 0.3 — Other expense - net 3.4 0.8 Adjusted EBITDA 47.4$ 34.1$ Adjusted EBITDA margin percentage 7.7% 6.2% Three Months Ended September 30,
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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 third- quarter earnings release 2026 2025 Net cash used for operating activities (33.2)$ (14.1)$ Capital expenditures (8.9) (7.9) Free cash flows (42.1)$ (22.0)$ Three Months Ended September 30,
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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