Slide 1: Q3/9M 2025 Results
Q3/9M 2025 Results 1 Investor Relations 29/10/2025 Q3/9M 2025 RESULTS ANALYST / INVESTOR PRESENTATION Christian Levin, CEO Dr. Michael Jackstein, CFO & CHRO 29/10/2025
Slide 2: Agenda
Q3/9M 2025 Results 2 Investor Relations 29/10/2025 AGENDA 1. Key results & highlights 2. Financial performance & outlook 3. Backup
Slide 3: Disclaimer
Q3/9M 2025 Results 3 Investor Relations 29/10/2025 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
Q3/9M 2025 Results 4 Investor Relations 29/10/2025 KEY RESULTS & HIGHLIGHTS
Slide 5: Transforming Transportation Together. For a Sustainable World.
Q3/9M 2025 Results 5 Investor Relations 29/10/2025 TRANSFORMING TRANSPORTATION TOGETHER. FOR A SUSTAINABLE WORLD. CMD 2024 growth levers International China Service & TRATON Solutions Financial Services Strategic drivers TMS BEV
Slide 6: Ongoing Uncertainty, But On Track To Deliver On Our 25 Financial Outlook
Q3/9M 2025 Results 6 Investor Relations 29/10/2025 ONGOING UNCERTAINTY, BUT ON TRACK TO DELIVER ON OUR 2025 FINANCIAL OUTLOOK 9M 2025 224,515 €32.3bn 6.3% €28m €2.07 202,111 -9% YoY -8% YoY -2.9pp YoY -€-1,316m YoY -€2.05 YoY +7% YoY Q3 2025 Unit Sales Adjusted Net cash flow Earnings per share Incom
Slide 7: Also Committed To Deliver On Future Transportation Needs
Q3/9M 2025 Results 7 Investor Relations 29/10/2025 ALSO COMMITTED TO DELIVER ON FUTURE TRANSPORTATION NEEDS Highlights Q3 2025 Scania inaugurates third global MAN introduces first fully electric International begins autonomous Banco TRATON Brasil receives industrial hub in China – the world’s coach
Slide 8: BEV Sales Continue To Grow With E-Trucks Ramping Up
Q3/9M 2025 Results 8 Investor Relations 29/10/2025 BEV SALES CONTINUE TO GROW WITH E-TRUCKS RAMPING UP Unit sales of fully electric vehicles (units) Q3 25 Q3 24 815 9M 25 526 9M 24 2,065 1,131 Incoming orders of fully electric vehicles (units) Q3 25 Q3 24 669 9M 25 658 9M 24 2,143 2,364
Slide 9: European Q3 Orders And Unit Sales Both Up
Q3/9M 2025 Results 9 Investor Relations 29/10/2025 EUROPEAN Q3 ORDERS AND UNIT SALES BOTH UP ~20% NOT ENOUGH TO COMPENSATE NA / SA DECREASE Europe: Incoming orders & Unit sales (k units) ― Truck market still weak, but registrations improving; TRATON Q3 truck unit sales up +7% Incoming orders Unit sa
Slide 10: All Markets Are Trending Downwards In 2025
Q3/9M 2025 Results 10 Investor Relations 29/10/2025 ALL MARKETS ARE TRENDING DOWNWARDS IN 2025 – 2026 PROSPECTS IN NORTH AMERICA MOST UNCERTAIN EU27+31 (k units, >6t) North America (k units, class 6-82) South America (k units, >6t) 2025e: -12.5% – -7.5% (narrowed from: -15% – -5%) 2025e: -15% – -10%
Slide 11: Financial Performance & Outlook
Q3/9M 2025 Results 11 Investor Relations 29/10/2025 FINANCIAL PERFORMANCE & OUTLOOK
Slide 12: Service Business Provides Support In Declining Markets
Q3/9M 2025 Results 12 Investor Relations 29/10/2025 SERVICE BUSINESS PROVIDES SUPPORT IN DECLINING MARKETS ― Q3 unit sales down by 16%, influenced by: Unit sales (k units) Sales revenue (€ bn) ― European unit sales growth (Q3 +20%) strongly driven by buses; not enough to compensate Vehicle Services
Slide 13: Margin Well Within New Guidance Range
Q3/9M 2025 Results 13 Investor Relations 29/10/2025 MARGIN WELL WITHIN NEW GUIDANCE RANGE, BUT ADDITIONAL COST BURDEN EXPECTED IN Q4 Decreased Q3 adj. RoS YoY due to: Adjusted operating result (€ m) Adjusted return on sales (%) ― Declining unit sales and mix 9M 25 9M 25 ― Lower fixed cost absorption
Slide 14: R&D Costs From New R&D Organization
Q3/9M 2025 Results 14 Investor Relations 29/10/2025 R&D COSTS FROM NEW R&D ORGANIZATION ARE DIRECTLY ALLOCATED TO BRANDS Historical´s external reporting (until H1 2025) Today´s external reporting (starting 9M 2025) TRATON Operations TRATON Operations Group R&D R&D R&D Legal entity view Legal entity
Slide 15: Restatement Has No Effect On TRATON Operations Margin
Q3/9M 2025 Results 15 Investor Relations 29/10/2025 RESTATEMENT HAS NO EFFECT ON TRATON OPERATIONS MARGIN ― With the completion of the group-wide R&D integration on July 1, 2025, the segment management of the TRATON GROUP has changed. ― Expenses incurred in the new R&D organization are now allocated
Slide 16: Scania Margin Back To Double-Digit In Q3
Q3/9M 2025 Results 16 Investor Relations 29/10/2025 SCANIA MARGIN BACK TO DOUBLE-DIGIT IN Q3 TRATON Operations1 Q3 Sales revenue 9,992 4,223 3,368 1,822 692 535 25 (in € m, YoY) (-13%) (0%) (+11%) (-49%) (-10%) (+10%) Adjusted RoS 7.4% 11.1% 4.5% 0.8% 11.3% 9.1% (Return on Equity2) (YoY) (-3.3pp) (-
Slide 17: Increasing Net Debt
Q3/9M 2025 Results 17 Investor Relations 29/10/2025 INCREASING NET DEBT – ALSO TO BE EXPECTED ON FULL-YEAR BASIS ― Net debt of TRATON Operations incl. Net liquidity/net debt bridge, 9M 2025 (€ m) TO = TRATON Operations Corporate Items increased by €1.7bn CI = Corporate Items vs. year-end 2024 mainly
Slide 18: 2025 Outlook Confirmed
Q3/9M 2025 Results 18 Investor Relations 29/10/2025 2025 OUTLOOK CONFIRMED – BUT LOWER END FOR ROS AND NET CASH FLOW FY 2024 FY 2025 Actuals Outlook (since Q2 Results) TRATON GROUP Unit sales (units) 334,215 -10 ‒ 0% Sales revenue (€ million) 47,473 -10 ‒ 0% Operating return on sales (adjusted) (in
Slide 19: Backup
Q3/9M 2025 Results 19 Investor Relations 29/10/2025 BACKUP
Slide 20: TRATON Operations – Incoming Orders
Q3/9M 2025 Results 20 Investor Relations 29/10/2025 TRATON OPERATIONS – INCOMING ORDERS Incoming orders (units) Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q3 QoQ Q3 YoY TRATON Operations 95,594 68,619 91,978 78,392 334,583 68,470 56,78
Slide 21: TRATON Operations – Incoming Orders By Region
Q3/9M 2025 Results 21 Investor Relations 29/10/2025 TRATON OPERATIONS – INCOMING ORDERS BY REGION Incoming orders (units) Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q3 QoQ Q3 YoY Trucks 79,529 56,049 74,745 63,976 274,299 53,610 44,636
Slide 22: TRATON Operations – Unit Sales
Q3/9M 2025 Results 22 Investor Relations 29/10/2025 TRATON OPERATIONS – UNIT SALES Unit sales (units) Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q3 QoQ Q3 YoY TRATON Operations 67,767 69,527 79,849 88,342 305,485 84,587 83,527 81,361 8
Slide 23: TRATON Operations – Unit Sales By Region
Q3/9M 2025 Results 23 Investor Relations 29/10/2025 TRATON OPERATIONS – UNIT SALES BY REGION Unit sales (units) Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 6,095 5,217 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q3 QoQ Q3 YoY Truck 57,575 57,540 66,602 72,583 254,300 70,208 69,635 67,235 74,
Slide 24: TRATON Group – Sales Revenue
Q3/9M 2025 Results 24 Investor Relations 29/10/2025 TRATON GROUP – SALES REVENUE Legal view Management view Sales revenue (€ m) Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q3 QoQ Q3 YoY TRATON GROUP 8,525 9,457 10,563 11,789 40,335 11,1
Slide 25: TRATON Group – Operating Result & Return On Sales
Q3/9M 2025 Results 25 Investor Relations 29/10/2025 TRATON GROUP – OPERATING RESULT & RETURN ON SALES Legal view Management view Operating result (€ m) Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q3 QoQ Q3 YoY TRATON GROUP 355 306 -52 9
Slide 26: TRATON Group – Adj. Operating Result & Adj. Return On Sales
Q3/9M 2025 Results 26 Investor Relations 29/10/2025 TRATON GROUP – ADJ. OPERATING RESULT & ADJ. RETURN ON SALES Legal view Management view Adj. operating result (€ m) Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q3 QoQ Q3 YoY TRATON GROU
Slide 27: TRATON Operations – Cash And Liquidity
Q3/9M 2025 Results 27 Investor Relations 29/10/2025 TRATON OPERATIONS – CASH AND LIQUIDITY TRATON Operations (€ m) Q1 21 Q2 21 Q3 21 Q4 21 FY 21 Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q3 QoQ Q3 YoY Gross cash flow 863 901 974 370 3
Slide 28: TRATON Group – Debt Maturity Profile
Q3/9M 2025 Results 28 Investor Relations 29/10/2025 TRATON GROUP – DEBT MATURITY PROFILE (AS OF 30 SEPTEMBER 2025) Major financings 2 Maturity profile (€ bn)1 ― Total of €11.8bn (equivalent) TFL Bonds outstanding (tranches of 1y to 12y) ― €4.5bn syndicated RCF undrawn ― €350m Schuldschein outstandin
Slide 29: IR Contact And Upcoming Events
29 Investor Relations IR CONTACT AND UPCOMING EVENTS Contacts Next Events Ursula Querette Thomas Paschen 10/29/2025 9M 2025 Interim Statement Head of Investor Relations Investor Relations +49 152 021 52 400 +49 170 907 34 94 10/30/2025 Jefferies Post Q3 Investor Call ursula.querette@traton.com thoma