Slide 1: Q2 2026 Results
Q2 2026 Results Turin, Italy – 30th July 2026
Slide 2: Cautionary Statement
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET SUMMARY Q2 2026 CAUTIONARY STATEMENT Statements other than statements of historical fact contained in this earning release, including competitive strengths; business strategy; future financial position or operating results; budgets; proj
Slide 3: Strong growth in Revenues led by higher volumes in EU; Q2 profitability reflects planned investments in quality
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET SUMMARY Q2 2026 Strong growth in Revenues led by higher volumes in EU; Q2 profitability reflects planned investments in quality; MY26 range launch In the second quarter, Iveco Group recorded a strong increase in Consolidated Revenues of
Slide 4: Tata Motors' Tender Offer for Iveco Group
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET IVECO GROUP TATA MOTORS’ TENDER OFFER FOR IVECO GROUP In regard to the Tata Motors’ Tender Offer for the proposed acquisition of the Iveco Group, the regulatory approvals are in the final stage, with only one pending approval to be recei
Slide 5: Truck
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET TRUCK TRUCK
Slide 6: Sustained strong leadership in LCV chassis cab and upper end, and HDT price discipline
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET TRUCK | Q2 2026 SUSTAINED STRONG LEADERSHIP IN LCV CHASSIS CAB AND UPPER END, AND HDT PRICE DISCIPLINE AMID CHALLENGING INDUSTRY DYNAMIC Q2 2026 European industry volumes were down 1% in LIGHT COMMERCIAL VEHICLES MEDIUM & HEAVY DUTY INDU
Slide 7: Solid European order intake across segments
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET TRUCK | Q2 2026 SOLID EUROPEAN ORDER INTAKE ACROSS SEGMENTS POSITIVE HDT MOMENTUM DROVE BOOK-TO-BILL INCREASE IN EUROPE LIGHT COMMERCIAL VEHICLES LCV M&H (3.5-7.49t) (≥ 7.5t) • Q2 2026 European order intake +21% vs Q2 2025, with a book-t
Slide 8: IVECO reinforces its premium partner ambition with the launch of its Model Year 26 range
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET TRUCK | Q2 2026 IVECO REINFORCES ITS PREMIUM PARTNER AMBITION WITH THE LAUNCH OF ITS MODEL YEAR 26 RANGE At IVECO Experience 2026 in July, IVECO launched its Model Year 26 truck and van range and marked an important step on its journey t
Slide 9: Quality for the customer in our daily work
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET
Slide 10: IVECO BUS maintains leadership position in European e-bus market
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET BUS | Q2 2026 IVECO BUS MAINTAINS LEADERSHIP POSITION IN EUROPEAN E-BUS MARKET AND CONSOLIDATES MARKET SHARE IN CITY AND INTERCITY • European market up 19% vs last year, driven by City INDUSTRY VOLUMES(1) (Units, % change versus Q225) bu
Slide 11: Bus deliveries up 8% and visibility covering all of 2026
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET BUS | Q2 2026 BUS DELIVERIES UP 8% AND VISIBILITY COVERING ALL OF 2026, FY 2025 UNFINISHED CITYBUSES FULLY DEPLOYED • In Q2 2026, BUS deliveries rose 8% while order intake decreased 34%, mainly due to peak in Intercity demand in 2025 BOO
Slide 12: Quality for the customer in our daily work
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET
Slide 13: Powertrain volumes rose 9% on European small-engine deliveries
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET POWERTRAIN | Q2 2026 VOLUMES ROSE 9% ON EUROPEAN SMALL-ENGINE DELIVERIES, PROFITABILITY IMPACTED BY ADVERSE PRODUCT MIX AND QUALITY FOCUS Thousands units ENGINES SOLD WORLDWIDE • Engine volumes rose 9% vs Q2 2025 due to steady increase i
Slide 14: Quality for the customer in our daily work
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET
Slide 15: EV deliveries strong across product ranges anchored by #1 position in eBuses
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET IVECO GROUP EV DELIVERIES STRONG ACROSS PRODUCT RANGES ANCHORED BY #1 POSITION IN eBUSES eTRUCKS eBUSES eAXLES BATTERIES eBS 37 EVO eBS 69Bus EDU eAX 840 (dual motor) eDaily eTLB CD Off-Road • Solid delivery levels despite softened marke
Slide 16: Q2 2026 Financials
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET Q2 2026 FINANCIALS
Slide 17: Financial Highlights – Continuing Operations
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET Q2 2026 FINANCIALS FINANCIAL HIGHLIGHTS – CONTINUING OPERATIONS Q2 2026 Net Revenues were up almost 8% for Industrial Activities. Free Cash Flow absorption mainly driven by negative working capital and higher investments. Available Liqui
Slide 18: Net Revenues of Industrial Activities
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET Q2 2026 FINANCIALS NET REVENUES OF INDUSTRIAL ACTIVITIES Industrial Activities Net Revenues were up almost 8%, with all segments contributing positively. Truck Net Revenues were up 4% driven by higher volumes. Bus Net Revenues were up 22
Slide 19: Adjusted EBIT of Industrial Activities
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET Q2 2026 FINANCIALS ADJUSTED EBIT OF INDUSTRIAL ACTIVITIES Profitability mainly affected by unfavourable production costs due to strengthened quality focus across businesses and rework costs in Bus Mainly due to: • Strengthened quality fo
Slide 20: Adjusted EBIT Margin Across Industrial Business Units
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET Q2 2026 FINANCIALS ADJUSTED EBIT MARGIN ACROSS INDUSTRIAL BUSINESS UNITS As planned, increased quality expenditure across businesses and completion of rework costs in BUS affected profitability, partially offset by higher volumes and Eff
Slide 21: Financial Services
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET Q2 2026 FINANCIALS FINANCIAL SERVICES Stable Adjusted EBIT and solid returns underlined the resilience of Financial Services in the second quarter, supported by disciplined portfolio management in a softer retail environment (1) Equity a
Slide 22: Industrial Activities: Net Cash and Free Cash Flow
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET Q2 2026 FINANCIALS INDUSTRIAL ACTIVITIES: NET CASH AND FREE CASH FLOW Industrial Free Cash Flow absorption was €45 million in the quarter vs cash generation of €119 million last year. Delta was mainly due to lower adjusted EBITDA, negati
Slide 23: Debt Maturity Profile
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET Q2 2026 FINANCIALS DEBT MATURITY PROFILE Available liquidity at €4.4 billion as of 30th June 2026, after the €1,551 million extraordinary interim dividend paid on 22nd April 2026 from Defence disposal proceeds th st 30 June 2026 31 Decem
Slide 24: CEO Closing Remarks
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET CEO CLOSING REMARKS
Slide 25: H2 Profitability Recovery Forecasted at a More Gradual Pace
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET CEO CLOSING REMARKS H2 PROFITABILITY RECOVERY FORECASTED AT A MORE GRADUAL PACE 01 02 03 04 In Q2, Iveco Group continued to focus Profitability is expected to recover in Truck order intake remained solid in Q2 Preliminary FY 2026 industr
Slide 26: Quality for the customer in our daily work
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET
Slide 27: H1 2026 Industry Volumes
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET Q2 2026 FINANCIALS H1 2026 INDUSTRY VOLUMES Units, % change versus H1 2025 LIGHT COMMERCIAL VEHICLES MEDIUM & HEAVY TRUCKS BUSES (3.5-7.49t) (≥ 7.5t) South Rest of the South Rest of the Europe 27(1) Europe 27(1) South America(2) Rest of
Slide 28: Q2 2026 versus Q2 2025 Order Intake, Deliveries and Book-to-Bill
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET APPENDIX Q2 2026 VERSUS Q2 2025 ORDER INTAKE, DELIVERIES AND BOOK-TO-BILL Order intake (#units) Deliveries (#units) Book-to-Bill (x) Q2 2026 Q2 2025 YoY % Q2 2026 Q2 2025 YoY % Q2 2026 Q2 2025 YoY % Trucks 24,696 19,332 28% 27,588 23,240
Slide 29: H1 2026 versus H1 2025 Order Intake, Deliveries and Book-to-Bill
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET APPENDIX H1 2026 VERSUS H1 2025 ORDER INTAKE, DELIVERIES AND BOOK-TO-BILL Order intake (#units) Deliveries (#units) Book-to-Bill (x) H1 2026 H1 2025 YoY % H1 2026 H1 2025 YoY % H1 2026 H1 2025 YoY % Trucks 50,045 39,683 26% 47,822 41,468
Slide 30: Net Revenues Summary Table
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET APPENDIX SUMMARY TABLE €mn, unless otherwise stated Q2 2026 Q2 2025 YoY Change Truck 2,443 2,345 4.2% Bus 919 751 22.4% Net Revenues Powertrain 941 878 7.2% Eliminations and other (607) (548) 10.8% Industrial activities 3,696 3,426 7.9%
Slide 31: Reconciliation Table (1/6)
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET APPENDIX RECONCILIATION TABLE (1/6) EBIT to Adjusted EBIT by business unit in Q2 2026 & Q2 2025 recast, and Powertrain Adjusted EBIT walk by driver – €mn Unallocated items, Truck Bus Powertrain Industrial Activities Financial Services El
Slide 32: Reconciliation Table (3/6)
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET APPENDIX RECONCILIATION TABLE (3/6) Total (Debt) to Net Cash (Debt) Consolidated Industrial Activities Financial Services €mn 30th June 2026 31st December 2025 30th June 2026 31st December 2025 30th June 2026 31st December 2025 Third par
Slide 33: Reconciliation Table (4/6)
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET APPENDIX RECONCILIATION TABLE (4/6) Cash Flows from/ (used in) Operating Activities to Free Cash Flow of Industrial Activities €mn Q2 2026 Q2 2025 Cash Flows from/(used in) Operating Activities from Continuing Operations (462) 95 - Less:
Slide 34: Reconciliation Table (5/6)
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET APPENDIX RECONCILIATION TABLE (5/6) €mn, unless otherwise stated Q2 2026 Q2 2025 Profit/(loss) from Continuing Operations 38 79 (a) Adjustments impacting Profit/(loss) before taxes from Continuing Operations 10 2 (b) Adjustments impactin
Slide 35: Reconciliation Table (6/6)
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET APPENDIX RECONCILIATION TABLE (6/6) €mn Q2 2025 Q2 2024 Restructuring costs 5 1 Costs related to certain claims arising from the EU Commission’s 2016 antitrust settlement decision announced on 19th July 2016 5 1 (a) Adjustments impacting
Slide 36: Market Shares in Europe
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET TRUCK | Q2 2026 MARKET SHARES IN EUROPE(1) LCV M&H (3.5-7.49t) (≥ 7.5t) Upper-end (6.01-7.49t) 75.2% 69.30% 36.30% Heavy gas (≥16t) 30.7% 32.10% 32.0% Chassis Cab (3.5-7.49t) 11.80% 12.6% 8.50% Total LCV (3.5-7.49t) Total M&H (≥7.5t) 6.4
Slide 37: Book-to-Bill Ratio Worldwide
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET TRUCK | Q2 2026 BOOK-TO-BILL RATIO WORLDWILDE LCV M&H (3.5-7.49t) (≥ 7.5t) 0.86x 0.87x 0.87x 1.05x Orders Deliveries Orders Deliveries Orders Deliveries Orders Deliveries Q2 2025 Q2 2026 Q2 2025 Q2 2026 37
Slide 38: Channel Inventory
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET TRUCK | Q2 2026 CHANNEL INVENTORY LCV M&H (3.5-7.49t) (≥ 7.5t) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2022 2023 2024 2025 2026 2022 2023 2024 2025 2026 Iveco Group's in
Slide 39: Product Portfolio
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET TRUCK | Q2 2026 PRODUCT PORTFOLIO Light Medium Heavy DAILY Chassis Cab eDAILY Chassis Cab IVECO eMOOVY EUROCARGO 4x2 IVECO S-WAY Artic IVECO S-WAY Rigid DAILY Van eDAILY Van eSUPERJOLLY EUROCARGO 4x4 IVECO S-WAY Artic IVECO S-WAY Rigid C
Slide 40: Product Portfolio
QUALITY TRUCK FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET BUS | Q2 2026 PRODUCT PORTFOLIO City Intercity Minibus Coach E-Way Electric E-Way Electric Linium Crossway LE Crossway LE Daily Line Evadys Electric (Diesel, CNG, HYB) (Diesel, ELEC, CNG) E-Way H2 Streetway Crossway Electric Crossw
Slide 41: Product Portfolio
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET POWERTRAIN | Q2 2026 PRODUCT PORTFOLIO Engines ePowertrain Drivelines • On-road (trucks and buses) • eDrivelines • Transmission • Off-road (agriculture, • Battery system for Light • Axles construction, power units) and Bus applications a
Slide 42: Non-EU-IFRS Financial Measures
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET APPENDIX NON-EU-IFRS FINANCIAL MEASURES Iveco Group monitors its operations through the use of several non-EU-IFRS financial measures including Adjusted EBIT, Adjusted EBIT margin, Adjusted Net Income/(Loss), Adjusted Diluted EPS, Adjust
Slide 43: Geographic Information
QUALITY FOR THE CUSTOMER IN OUR DAILY WORK AS A SHARED MINDSET APPENDIX GEOGRAPHIC INFORMATION Financials - The composition of our regions is as follow: • Europe: member countries of the European Union, European Free Trade Association, the United Kingdom, Ukraine and Balkans. • South America: Centra
Slide 44: Thank You
THANK YOU IVECO*GROUP WE GO BEYOND
Slide 45: Investor Relations contacts
Investor Relations contacts E-mail: investor.relations@ivecogroup.com Website: www.ivecogroup.com/investors/contacts Contains confidential proprietary and trade secrets information of Iveco Group. Any use of this work without express written consent is strictly prohibited.