Slide 1: Q2/H1 2026 Results Analyst / Investor Presentation
Q2/H1 2026 Results 1 Investor Relations 23/07/2026 Q2/H1 2026 RESULTS ANALYST / INVESTOR PRESENTATION Christian Levin, CEO Dr. Michael Jackstein, CFO & CHRO 23/07/2026
Slide 2: Agenda
Q2/H1 2026 Results 2 Investor Relations 23/07/2026 AGENDA 1. Key results & highlights 2. Financial performance & outlook 3. Backup
Slide 3: Disclaimer
Q2/H1 2026 Results 3 Investor Relations 23/07/2026 DISCLAIMER 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 securitie
Slide 4: Key Results & Highlights
Q2/H1 2026 Results 4 Investor Relations 23/07/2026 KEY RESULTS & HIGHLIGHTS
Slide 5: Top-line acceleration, with timing effects smoothing earnings development
Q2/H1 2026 Results 5 Investor Relations 23/07/2026 TOP-LINE ACCELERATION, WITH TIMING EFFECTS SMOOTHING EARNINGS DEVELOPMENT H1 2026 151,529 €22.0bn 7.0% -€269m €1.87 181,944 -1% YoY 0% YoY +0.7pp YoY -€323m YoY +€0.44 YoY +30% YoY Q2 2026 Unit Sales Adjusted Net cash flow Earnings per share Incomin
Slide 6: Strong demand signals continue, driving upward recovery in the cycle
Q2/H1 2026 Results 6 Investor Relations 23/07/2026 STRONG DEMAND SIGNALS CONTINUE, DRIVING UPWARD RECOVERY IN THE CYCLE … EU27+3: Incoming orders & Unit sales (k units) ― Truck order intake strongly up +23% YoY in Q2 vs. weaker Q2 25 following the introduction of US- Incoming orders Unit sales tarif
Slide 7: Leading to an improved truck market outlook
Q2/H1 2026 Results 7 Investor Relations 23/07/2026 … LEADING TO AN IMPROVED TRUCK MARKET OUTLOOK EU27+31 (k units, >6t) North America2 (k units, class 6-8) South America (k units, >6t) China (k units, >6t) 2026e: -2.5% – +7.5% (mid-point +2.5%) 2026e: 0% – +10% (mid-point +5.0%) 2026e: -10% – 0% (mi
Slide 8: Key operational opportunities supporting way up
Q2/H1 2026 Results 8 Investor Relations 23/07/2026 KEY OPERATIONAL OPPORTUNITIES SUPPORTING WAY UP Scania strengthens World premiere for the International Motors VWTB is advancing TFS expands its TRATON GROUP issues European capacity for MAN eTGM (16t); closing introduces My production footprint and
Slide 9: BEV momentum continues to build
Q2/H1 2026 Results 9 Investor Relations 23/07/2026 BEV MOMENTUM CONTINUES TO BUILD Unit sales of fully electric vehicles (units) Q2 26 H1 26 1,050 1,907 +67% YoY +53% YoY Incoming orders of fully electric vehicles (units) Q2 26 H1 26 895 2,147 +47% YoY +46% YoY
Slide 10: Financial Performance & Outlook
Q2/H1 2026 Results 10 Investor Relations 23/07/2026 FINANCIAL PERFORMANCE & OUTLOOK
Slide 11: Acceleration not yet translating into YTD sales
Q2/H1 2026 Results 11 Investor Relations 23/07/2026 ACCELERATION NOT YET TRANSLATING INTO YTD SALES ― Q2 unit sales up by 4%, influenced by: Unit sales (k units) Sales revenue (€ bn) ― Increased EU27+3 unit sales (+3% YoY), despite continued weaker German Vehicle Services business H1 26 H1 26 develo
Slide 12: Part of previously expected H2 earnings improvement brought forward to Q2
Q2/H1 2026 Results 12 Investor Relations 23/07/2026 PART OF PREVIOUSLY EXPECTED H2 EARNINGS IMPROVEMENT BROUGHT FORWARD TO Q2 Increase in Q2 adj. RoS YoY due to: Adjusted operating result (€ m) Adjusted return on sales (%) ― Tariff costs catch-up effect (Section 232 + IEEPA) H1 26 H1 26 ― Increased
Slide 13: Timing effects and solid underlying performance supporting higher profitability
Q2/H1 2026 Results 13 Investor Relations 23/07/2026 TIMING EFFECTS AND SOLID UNDERLYING PERFORMANCE SUPPORTING HIGHER PROFITABILITY TRATON Operations1 Q2 Sales revenue 11,309 4,883 3,673 2,060 837 642 26 (in € m, YoY) (+4%) (+7%) (+4%) (-7%) (+22%) (+21%) Adjusted RoS 9.0% 11.6% 6.7% 5.6% 10.9% 8.7%
Slide 14: NCF generation follows usual seasonal pattern
Q2/H1 2026 Results 14 Investor Relations 23/07/2026 NCF GENERATION FOLLOWS USUAL SEASONAL PATTERN ― Net cash flow of TRATON Operations in H1 2026 Net liquidity/net debt bridge, H1 2026 (€ m) TO = TRATON Operations characterized by: CI = Corporate Items ― Improved operating performance Net debt incre
Slide 15: 2026 outlook narrowed towards upper end
Q2/H1 2026 Results 15 Investor Relations 23/07/2026 2026 OUTLOOK NARROWED TOWARDS UPPER END FY 2025 FY 2026 FY 2026 Actuals Outlook Outlook Narrowed (since Q2 results) TRATON GROUP Unit sales (units) 305,486 -5 to +7% 0 to +7% Sales revenue (€ million) 44,052 -5 to +7% 0 to +7% Operating return on s
Slide 16: Backup
Q2/H1 2026 Results 16 Investor Relations 23/07/2026 BACKUP
Slide 17: Restatement from legal view to management view
Q2/H1 2026 Results 17 Investor Relations 23/07/2026 RESTATEMENT FROM LEGAL VIEW TO MANAGEMENT VIEW ― With the completion of the group-wide R&D integration on July 1, 2025, the segment management of the TRATON GROUP has changed. ― Since Q3 2025, expenses incurred in the new R&D organization are alloc
Slide 18: TRATON Operations – Incoming orders
Q2/H1 2026 Results 18 Investor Relations 23/07/2026 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 Q2 QoQ Q2 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 94,16
Slide 19: TRATON Operations – Incoming orders by region
Q2/H1 2026 Results 19 Investor Relations 23/07/2026 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 Q2 QoQ Q2 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
Slide 20: TRATON Operations – Unit sales
Q2/H1 2026 Results 20 Investor Relations 23/07/2026 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 Q2 QoQ Q2 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 21% 4% T
Slide 21: TRATON Operations – Unit sales by region
Q2/H1 2026 Results 21 Investor Relations 23/07/2026 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 Q2 QoQ Q2 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 22% 2% EU
Slide 22: TRATON Group – Sales revenue
Q2/H1 2026 Results 22 Investor Relations 23/07/2026 TRATON GROUP – SALES REVENUE 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 Q2 QoQ Q2 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 15% 4% TRATON Op
Slide 23: TRATON Group – Operating result & return on sales
Q2/H1 2026 Results 23 Investor Relations 23/07/2026 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 Q2 QoQ Q2 YoY TRATON GROUP 1,057 1,008 1,038 1,106 4,209 651 607 465 703 2,426 60 914 >100% 51% TRATON
Slide 24: TRATON Group – Adj. operating result & adj. return on sales
Q2/H1 2026 Results 24 Investor Relations 23/07/2026 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 Q2 QoQ Q2 YoY TRATON GROUP 1,106 1,015 1,140 1,123 4,384 646 725 668 734 2,773 582 957 6
Slide 25: TRATON Operations – Cash and liquidity
Q2/H1 2026 Results 25 Investor Relations 23/07/2026 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 Q2 QoQ Q2 YoY Gross cash flow 1,423 1,452 1,398 1,536 5,809 935 1,036 1,099 1,197 4,267 657 1,404 747 368 Change
Slide 26: TRATON Group – Debt maturity profile
Q2/H1 2026 Results 26 Investor Relations 23/07/2026 TRATON GROUP – DEBT MATURITY PROFILE (AS OF 30 JUNE 2026) Major financings 2 Maturity profile (€ bn)1 ― Total of €12.9bn (equivalent) TFL Bonds outstanding (tranches of 1y to 12y) ― €4.5bn syndicated RCF undrawn 12.0 ― €50m Schuldschein outstanding
Slide 27: IR Contact and Events
Q2/H1 2026 Results 27 Investor Relations 23/07/2026 IR CONTACT AND EVENTS Contacts Upcoming events Ursula Querette Thomas Paschen Head of Investor Relations Investor Relations 24 Jul 2026 Deutsche Bank Post H1 2026 Roadshow | +49 152 021 52 400 +49 170 907 34 94 Virtual ursula.querette@traton.com th