Saf-holland Se · XETR:SFQ
Saf-holland — Investor Presentation (September 2026)
72 slides from Saf-holland's investor presentation, September 2026
Slide 1: Prepared for tomorrow
Investor Presentation Prepared for tomorrow September 2026
Slide 2: SAF-HOLLAND – Set for additional profitable growth
SAF-HOLLAND – Set for additional profitable growth SAF-HOLLAND is one of the world leaders, manufacturing chassis-related assemblies and components, primarily for trailers, semi-trailers as well as for trucks and buses Strong and Strong Diverse Technology Top Highly long-standing brands and and enga
Slide 3: Global reach and local end to end presence in key growth markets
Global reach and local end to end presence in key growth markets Global production footprint with a local-for-local approach and c. 10,000 spare parts and service stations 11.6% 39.7% 51.0% 48.1% 37.4% FY 2025 FY 2025 37.4% 12.2% EMEA Americas APAC Trailer OE Truck OE Aftermarket End customers & fle
Slide 4: Comprehensive high-quality product portfolio of SAF-HOLLAND plus Haldex
Comprehensive high-quality product portfolio of SAF-HOLLAND plus Haldex 01 Air disc brake Truck 02 Brake adjuster Truck 03 Wheel system Trilex 04 04 Fifth wheels 12 06 07 05 Suspension systems Truck 01 02 05 06 King Pins 03 08 07 Landing gears 10 09 08 Actuators 11 Air disc brakes Trailer Brake adju
Slide 5: SAF-HOLLAND – An attractive investment opportunity
SAF-HOLLAND – An attractive investment opportunity 1. A global leader Top market positions to leverage regional strength, local-for-local approach and broad product portfolio to serve OE and aftermarket customers 2. Attractive growth Megatrends such as digitalization, electrification, autonomous dri
Slide 6: Business model
01 Business model Strategy drive2030 Strategy drive2030 Performance Q2/H1 2026 Performance Q2/H1 2026 Financial overview Financial overview Outlook 2026 Outlook 2026 Contact and additional information Contact and additional information Investor Presentation September 2026 6
Slide 7: Direct access to broad and diversified end customer base: Fleet operators
Direct access to broad and diversified end customer base: Fleet operators • SAF-HOLLAND has long established relationships with fleet owners and trailer builders Customer feedback on • High brand recognition technical and market and superior product requirements performance combined with unique afte
Slide 8: Comprehensive aftermarket spare parts and service network worldwide
Comprehensive aftermarket spare parts and service network worldwide ~10,000 spare parts dealers and service stations in more than 80 countries guarantee spare parts availability SAF-HOLLAND axle population in EMEA has more than tripled 4,000,000 3,000,000 2,000,000 1,000,000 0 2000 2005 2010 2015 20
Slide 9: Aftermarket needs addressed from first to third owner of a vehicle
Aftermarket needs addressed from first to third owner of a vehicle Authorized repair First owner of Second and third workshops and vehicle owner of vehicle LEVERAGE SAF-HOLLAND’S GLOBAL NETWORK distributors HIGHLY RESILIENT AND VERY PROFITABLE Parts with high Affordable products BUSINESS durability
Slide 10: Strong aftermarket exposure ensures resilient profitability
Strong aftermarket exposure ensures resilient profitability (EUR mn and %) • Aftermarket sales streams are 164 resilient and highly profitable EUR 689 mn Aftermarket • Strong aftermarket position due or sales cover a high to 10,000 spare parts & service double-digit %-share stations, previous strong
Slide 11: Strategic initiatives
02 Business model Business model Strategy drive2030 Strategic initiatives Strategic initiatives Financial strength Financial strength Sustainability Sustainability Performance Q2/H1 2026 Performance Q2/H1 2026 Financial overview Financial overview Outlook 2026 Outlook 2026 Contact and additional inf
Slide 12: Vision … to Mission
Vision … to Mission Be the most trusted Take the No.1 leadership role in the and reliable partner for our transformation of mobility customers worldwide and in partnering with our customers on the road to a sustainable future Customer Regional Technology Leverage Operational focus strength as core e
Slide 13: Sales to exceed EUR 3 bn in 2030
Sales to exceed EUR 3 bn in 2030 Driving sales through organic growth and targeted M&A until 2030 Sales (in EUR million) >3,000 ≥ +11% p.a. >2,500 1,734 2025 Market growth Strategic initiatives 2030 M&A 2030 excl. M&A Investor Presentation September 2026 13
Slide 14: SAF-HOLLAND very well positioned to benefit from increasing transportation demand
SAF-HOLLAND very well positioned to benefit from increasing transportation demand Global road freight demand set to almost triple to 844 bn kilometres until 2050* Megatrends in the Commercial Vehicle Industry Electrification Digitalization Autonomous Traffic Safety Driving Driven by • CO2 reduction
Slide 15: SAF-HOLLAND partner of choice – High quality products generate customer value
SAF-HOLLAND partner of choice – High quality products generate customer value SAF-HOLLAND is the only player in the industry that combines trailer axles, suspensions, EBS and telematics A B C D E F G H Fifth wheels & Foundation Landing Suspensions1) Axles1) Air controls EBS & ABS1) ADB1) couplings b
Slide 16: Strategic initiatives
02 Business model Business model Strategy drive2030 Strategy drive2030 Strategic initiatives Financial strength Financial strength Sustainability Sustainability Performance Q2/H1 2026 Performance Q2/H1 2026 Financial overview Financial overview Outlook 2026 Outlook 2026 Contact and additional inform
Slide 17: TRAKr – Future technology with value-add for customers
TRAKr – Future technology with value-add for customers Field experience • Field tests started in 2020 with TRAKr prototypes • Field experience since October 2021 • Approx. 150 trailers equipped with TRAKr pilot-series and TRAKr series (liquid-cooled version) • > 3 mn km field experience SOP of TRAKr
Slide 18: Steering – Partner of choice to meet ambitious industry CO2 targets
Steering – Partner of choice to meet ambitious industry CO2 targets Megatrends & market drivers • Growing steering business driven by megatrend Tecma and Assali Stefen are the leading suppliers for self steering CO2 reduction axles in EMEA • European legislation requires a 15% reduction in CO2 emiss
Slide 19: SAF-HOLLAND – The only global provider that combines axles, telematics, and TEBS
SAF-HOLLAND – The only global provider that combines axles, telematics, and TEBS in a single system Electronic system for measuring More than 850,000 Smart Steel braking performance trailers with EBS • Combined mechatronics expertise with delivered • Analysis of braking performance using big data an
Slide 20: Telematics: Established platform to accelerate growth & customer adoption
Telematics: Established platform to accelerate growth & customer adoption 01 Key milestones 02 Recent developments and expectations 03 Future strategic focus Established foundation Connected base development and outlook to 2030 Leverage more broadly Customer relevance 2018: Trailer telematics 150k s
Slide 21: Turning connected assets into actionable intelligence
Turning connected assets into actionable intelligence Step 1: Installed hardware and sensors providing the foundation for advanced analytics Tire pressure Axle load Door sensor (TPMS) monitoring Telematics box Wheel-end sensor Brake and EBS (DCU) (WEMS) data Temperature DriverApp Geofencing monitori
Slide 22: Converting fleet insights into customer value
Converting fleet insights into customer value Step 2: Condition monitoring – Portal overview Axscend portal The connected backbone: data from every asset in one place Reporting Safety and Fleet and and inter- condition maintenance operability monitoring views via standard APIs Step 3: Value created
Slide 23: Smart Steel – What's next?
Smart Steel – What’s next? Technical features as add-ons to the Axscend-telematics box (DCU) in combination with trailer EBS and axles and suspensions Landing gear Telematics box (DCU) supporting over-the-air- updates and all ECUs updated over DCU as single-entry point Bearing Fifth wheel temperatur
Slide 24: SHAC Automated Coupling – Paving the road to automated driving
SHAC Automated Coupling – Paving the road to automated driving Fully on track for development targets Highlights Megatrends & • In-house support for system market drivers development to latest safety standards • Cost pressure and driver shortage drive • Collaboration with R&D automation especially c
Slide 25: Truck & Bus ADB: Global OEM opportunity and regulatory timeline
Truck & Bus ADB: Global OEM opportunity and regulatory timeline First tangible effects more likely to be visible Prioritized OEM targets for global ADB growth toward the end of the strategic corridor Global market share of truck OEMs (%) 100 Other 90 Development process: roughly 3 to 5 years* OEM 9
Slide 26: Utilization of market position in trailer ADB to expand into truck and bus segment
Utilization of market position in trailer ADB to expand into truck and bus segment Market & positioning Achievements & outlook Foundation for success Truck ADB order from Strong market position 1st Scandinavian OEM Supply chain resilience • No. 1 in trailer ADB in EMEA • Leveraging existing truck cu
Slide 27: Air disc brake growth initiatives for truck & trailer to add value
Air disc brake growth initiatives for truck & trailer to add value North American market dynamics New technology and available capacity Truck / trailer ADB addressable market size Connected ADB pad wear sensor technology to give real-time data on total brake system wear +36% CAGR +5% Haldex ADB Brak
Slide 28: ADB production capacity already in place – ready to almost double output
ADB production capacity already in place – ready to almost double output SAF-HOLLAND ADB production Planned capacity and headroom by site used free Trailer / Truck & bus Landskrona 1999 | 2024 Global 5 sites 2026 Yangzhou 2026 Optimal 100% utilization Düzce 2025 Suzhou 2006 | 2009 Monterrey 2019 | 2
Slide 29: Trailer systems selling strategy
Trailer systems selling strategy Trailer Trailer Customer-oriented solutions component supplier system supplier • Fully integrated and engineered system • Long guarantees of performance • Increase revenue content per trailer Becoming a tier 1 supplier and significantly strengthening aftermarket busi
Slide 30: India – Building on unparalleled 25+ years market presence
India – Building on unparalleled 25+ years market presence with strong team and local presence Market dynamics & claim to success Strategic initiatives SAF-HOLLAND with strong market lead based on Dedicated initiatives to leverage market • 25+ years of presence potential • No. 1 brand • Market prese
Slide 31: China – Increasing market share and taking advantage of growth opportunities
China – Increasing market share and taking advantage of growth opportunities Market dynamics & claim to success Strategic initiatives SAF-HOLLAND’s market position Dedicated initiatives to leverage market • Among top 5 for most products potential • High quality axles segment in China • Leading posit
Slide 32: Addressing adjacent industries based on recent portfolio expansion
Addressing adjacent industries based on recent portfolio expansion Market & positioning Adjacent industries Serving specialized and off-highway applications Leveraging portfolio Utilization of SAF- Capitalizing and expertise HOLLAND’s sales and on megatrends, • Increased resilience due to different
Slide 33: Addressing adjacent industries based on recent portfolio expansion
Addressing adjacent industries based on recent portfolio expansion Red coupling head Yellow coupling EB+ 4.0 ABS4.0 Height Sensor Toolbox for tractor/ trailer head Electronic braking replace all previous for mechanical for diagnostic for tractor/ trailer system for trailers Haldex ABS suspension S-T
Slide 34: Targeted M&A to diversify portfolio and expand regional footprint
Targeted M&A to diversify portfolio and expand regional footprint Alongside organic growth, M&A continues to provide additional momentum Penetration Adjacent industries Truck Construction Mining + Trailer Material handling Agriculture Bus Logging Aftermarket M&A along clear guidelines with 6 criteri
Slide 35: M&A – Strong cash generation enables broad headroom for further value creation
M&A – Strong cash generation enables broad headroom for further value creation M&A approach Firepower Leverage 1st year Leverage Close target PMI excellence ≤ ca. EUR 1.5 bn ≤ ca. 3.5x net debt / thereafter screening 9 acquisition targets EBITDA ≤ 3.0x net debt / 20-25 targets on (initially EUR 640
Slide 36: Financial strength
02 Business model Business model Strategy drive2030 Strategy drive2030 Strategic initiatives Strategic initiatives Financial strength Sustainability Sustainability Performance Q2/H1 2026 Performance Q2/H1 2026 Financial overview Financial overview Outlook 2026 Outlook 2026 Contact and additional inf
Slide 37: Full focus on profitable growth
Full focus on profitable growth Driving profitability through sales growth, cost and efficiency initiatives Adj. EBIT (in EUR million / in % of sales) 10-12% 10-12% Americas 10-12% 9.6% EMEA >10% 164 APAC 10-12% 2025 Inflationary Market Operational SG&A Strategic 2030 M&A 2030 headwind growth improv
Slide 38: Operational efficiency – Leading in managing the cyclicality of the business
Operational efficiency – Leading in managing the cyclicality of the business SAF-HOLLAND is maximizing operational efficiency along the value creation chain Supplier Service prov. logistics Production Service prov. logistics Customer Procurement Logistics Sales disposition Deliver the peak and manag
Slide 39: SG&A optimization – Focus on PMI and state of the art technology
SG&A optimization – Focus on PMI and state of the art technology Haldex PMI well Global ERP initiative – Leverage AI to on track S4/HANA implemen- increase work tation efficiency Well on track regarding synergy • Fit-to-standard approach and realization best practice • Successful go-live of pilot Ac
Slide 40: Successful Haldex integration and synergy potential on track
Successful Haldex integration and synergy potential on track Plan Haldex synergy opportunities Achievements Forecast Synergy type Key assumptions 2023 2025 2027-2030 SG&A expenses Cost synergies • Lean management • De-listing costs Adj. EBIT • Capacity reduction (in EUR mn) • Joint use of sales infr
Slide 41: SAF-HOLLAND with strong track record for top and bottom-line
SAF-HOLLAND with strong track record for top and bottom-line >3,000 Group sales (in EUR mn) 2,106 1,700 – 1,877 1,850 1,734 1,565 1,301 1,284 1,247 1,061 1,042 1,139 960 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Outlook* 2030 Target Group adj. EBIT and adj. EBIT margin (in EUR mn a
Slide 42: Sustainability
02 Business model Business model Strategy drive2030 Strategy drive2030 Strategic initiatives Strategic initiatives Financial strength Financial strength Sustainability Performance Q2/H1 2026 Performance Q2/H1 2026 Financial overview Financial overview Outlook 2026 Outlook 2026 Contact and additional
Slide 43: ESG – Economic success closely linked to sustainability ambitions
ESG – Economic success closely linked to sustainability ambitions 1 2 3 4 5 Net zero Sustainable Attractive Sustainable Effective corporate emissions by 2050 products and employer operational excellence governance innovations for across the value chain customers SAF-HOLLAND drives its sustainability
Slide 44: Measuring what matters: SAF-HOLLAND ESG results
Measuring what matters: SAF-HOLLAND ESG results Ratings ESG Achievements EcoVadis1 (2025) Net zero ambition 2050 Lost Time Injury Rate 74/100 SAF-HOLLAND is committed to achieving reduced from 11.25 net zero emissions by no later than 2050 to 10.51 Carbon Disclosure Project (2025) GHG emissions scop
Slide 45: Executing net-zero target through a clear transition pathway
Executing net-zero target through a clear transition pathway Net zero targets for scope 1 and 2 GHG emissions1 2024 2030 2050 By 2030, we are committed to reducing Scope 1 and 2 greenhouse gas (GHG) emissions by 42% compared to 2024 By 2050, Scope 1 and 2 GHG emissions are expected to be reduced by
Slide 46: Electrification of customer fleet accelerates scope 3 decarbonization
Electrification of customer fleet accelerates scope 3 decarbonization Scope 3 reduction through e-platform capable products and supply chain decarbonization • The industry is projected to reduce its emissions intensity by 28% until 2030 and 94% until 2050, compared to 2023 levels1 • SAF-HOLLAND is a
Slide 47: Empowering people: Strengthening social impact at SAF-HOLLAND
Empowering people: Strengthening social impact at SAF-HOLLAND Sustainable Development Goals are integrated into ESG focus areas SAF-HOLLAND fosters an inclusive, safe, and inspiring workplace that attracts, develops, and retains people Zero cases of Zero cases of discrimination All employees Impleme
Slide 48: Strong governance as the foundation of sustainable success
Strong governance as the foundation of sustainable success Governance Remuneration components Management Board (2025-2028)1 Management Board 50% Fixed • Fixed contractually agreed remuneration • Role: Operational & strategic management remuneration • Fringe benefits • Responsibilities: • CEO - ESG s
Slide 49: Performance Q2/H1 2026
04 Business model Business model Strategy drive2030 Strategy drive2030 Performance Q2/H1 2026 Financial overview Financial overview Outlook 2026 Outlook 2026 Contact and additional information Contact and additional information Investor Presentation September 2026 49
Slide 50: Q2 2026 Financial highlights
Q2 2026 Financial highlights Outlook Sales Outlook for fiscal year 2026 confirmed EUR 454.0 mn (PY: EUR 442.4 mn) Recovery and stabilization of major OE markets result in moderate organic growth of 3.8% Leverage Adj. EBIT margin 2.3x (Dec 2025: 2.3x) 9.6% (PY: 9.1%) Stable leverage despite dividends
Slide 51: Continued organic growth with margin improvement
Continued organic growth with margin improvement +1.6% Group sales Sales (in EUR mn) 891.6 905.7 • Group sales increased by 2.6% yoy in Q2, driven by an organic growth of 3.8% yoy +2.6% 600 • Growth was primarily driven by continued trailer OE demand in 442.4 417.2 425.6 451.7 454.0 10 EMEA and stro
Slide 52: Sales split by region and customer segment
Sales split by region and customer segment Group sales split • EMEA mainly benefitted from a continued solid trailer demand (by region, by customer category) 11.1% 12.2% and a robust aftermarket, despite the ongoing Middle East conflict EMEA • Solid pre-buy demand for trucks in North America more th
Slide 53: EMEA maintains momentum with sound profitability
EMEA maintains momentum with sound profitability +5.7% EMEA sales Sales (in EUR mn) 441.9 467.3 • Continued positive momentum in the OE trailer segment in Europe remained the key growth driver, while the aftermarket business +3.6% developed robust 300 223.1 225.6 236.2 231.0 • Hence, sales grew by 3
Slide 54: Resilient operating performance despite weak market environment, with signs of recovery
Resilient operating performance despite weak market environment, with signs of recovery Americas sales -6.3% Sales (in EUR mn) 346.5 • Americas Q2 sales remained slightly below prior year due to 324.5 continued muted North American CV demand and negative FX -1.4% effects of EUR 2.4 mn resp. 1.4% 200
Slide 55: Strong organic growth and operational momentum
Strong organic growth and operational momentum +10.4% APAC sales Sales (in EUR mn) 113.9 • Continued strong trailer demand in India as well as Australia drove 103.1 double-digit organic growth of 18.1% yoy in Q2, while FX effects +12.4% significantly reduced reported sales by 5.8% 52.4 58.6 55.3 • T
Slide 56: EBIT to adjusted EBIT reconciliation for the Group
EBIT to adjusted EBIT reconciliation for the Group in EUR mn Q2 2026 Q2 2025 H1 2026 H1 2025 EBIT 1 38.7 34.5 12.1% 75.6 70.4 7.4% 1 Reported EBIT improved due to higher topline scale effects EBIT margin in % 8.5 7.8 8.3 7.9 and materialization of groups Additional depreciation & efficiency program
Slide 57: EPS benefits from revenue growth and improved financing result
EPS benefits from revenue growth and improved financing result in EUR mn Q2 2026 Q2 2025 H1 2026 H1 2025 1 Finance result improved strongly by EUR 11.3 mn EBIT 38.7 34.5 12.1% 75.6 70.4 7.4% • PY was impacted by unrealized FX Finance result 1 -5.7 -17.0 -11.0 -32.3 effects of EUR -14.5 mn thereof un
Slide 58: Equity ratio mainly impacted by dividend payment
Equity ratio mainly impacted by dividend payment Equity ratio (in %) • Compared to 31 December 2025, equity rose by 3.1% mainly due to the result for the period 30.8% 31.2% 28.7% 29.6% 29.3% 29.1% 28.5% 27.7% • Balance sheet total grew by 4.8% compared to 31 December 26.9% 2025 primarily due to the
Slide 59: Seasonal NWC build-up in line with FY expectations
Seasonal NWC build-up in line with FY expectations Net working capital (in % of sales) • NWC ratio increased to 17.6% as of June 2026 (Dec 2025: 18.7% 16.8%), mainly reflecting the usual seasonal build-up in 17.6% 18.2% 17.1% inventories and receivables 15.8% 16.9% 16.8% • A structural different cus
Slide 60: Favorable NWC development drives solid cash flow
Favorable NWC development drives solid cash flow 1 Improved NWC drove lower cash outflow compared to PY in EUR mn Q2 2026 Q2 2025 H1 2026 H1 2025 2 Capex amounted to 2.3% of Group sales during H1 2026 EBITDA 59.9 56.5 117.5 115.4 Investments focused on further automation and modernization processes,
Slide 61: ROCE development
ROCE development Return on capital employed (in %) 22,3% 19,2% 18,3% 17,4% 15,8% 15,5% 15,8% 15,8% 15,9% Jun Sep Dec Mar Jun Sep Dec Mar Jun EUR mn 2024 2024 2024 2025 2025 2025 2025 2026 2026 Equity 492.3 484.4 527.1 539.4 464.7 477.2 492.0 516.2 507.0 Financial liabilities 698.6 700.8 684.1 661.6
Slide 62: Financial overview
04 Business model Business model Strategy drive2030 Strategy drive2030 Performance Q2/H1 2026 Performance Q2/H1 2026 Financial overview Outlook 2026 Outlook 2026 Contact and additional information Contact and additional information Investor Presentation September 2026 62
Slide 63: Solid financial and liquidity profile
Solid financial and liquidity profile Maturity profile (EUR mn as of June 30, 2026) • About 85% of outstanding debt includes variable interest rates, around 70% of these debt instruments are hedged against rising 302 interest rates • Most of outstanding debt is related to the Haldex acquisition. 171
Slide 64: Share buyback program 2025
Share buyback program 2025 END OF NOVEMBER UP TO – UP TO 5% EUR 40 MN 31 DECEMBER 2026 Volume Share capital Time span • Robust liquidity situation, supported by a successful cash-pooling, and solid financing structure with no already refinanced outstanding maturities before March 2027 • Attractive i
Slide 65: Solid leverage ratio despite dividend payment and repurchasing of shares
Solid leverage ratio despite dividend payment and repurchasing of shares Net debt/EBITDA • Net debt/EBITDA ratio amounted to 2.3x at the end of June 2026 2.4 2.4 2.3 2.3 • Solid net debt development despite dividend-cash out of 2.2 2.0 EUR 28.8 mn as well as EUR 13.3 mn spent for repurchasing of 1.9
Slide 66: Outlook 2026
05 Business model Business model Strategy drive2030 Strategy drive2030 Performance Q2/H1 2026 Performance Q2/H1 2026 Financial overview Financial overview Outlook 2026 Contact and additional information Contact and additional information Investor Presentation September 2026 66
Slide 67: 2026 Market outlook – Positive momentum across key end markets
2026 Market outlook – Positive momentum across key end markets H1 2026 H1 2026 FY 2026e FY 2026e Trailer market Truck market Trailer market Truck market ~ 5 to +10% EMEA ~ +5 to +10% +5 to +10% ~ +5 to +10% (previously: ~ 0 to +5%) North America -8% -17% ~ -5 to +5% ~ 0 to +10% Brazil -9% -14% ~ -10
Slide 68: Outlook 2026 confirmed
Outlook 2026 confirmed Group Group Sales FY 2025 FY 2026 • OE business to be supported by continued recovery trend in Results Outlook as of March 2026 EMEA as well as in APAC • Americas expected to show recovery momentum from truck EUR 1,700 mn customers as well as a gradually improved trailer marke
Slide 69: Contact and additional information
06 Business model Business model Strategy drive2030 Strategy drive2030 Performance Q2/H1 2026 Performance Q2/H1 2026 Financial overview Financial overview Outlook 2026 Outlook 2026 Contact and additional information Investor Presentation September 2026 69
Slide 70: Key information about SAF-HOLLAND shares
Key information about SAF-HOLLAND shares SAF-HOLLAND share price compared to SDAX (January to June 2026, in EUR) 22 20 SAF-HOLLAND 32.4% 18 16 SDAX 5.1% 14 01/2026 02/26 03/26 04/26 05/26 06/26 Shareholder structure* as of June 2026 Analyst coverage Baader Bank Adrien Brasey Treasury shares 2.5% Man
Slide 71: Investor relations contact & financial calendar
Investor relations contact & financial calendar Issuer & contact Financial calendar and roadshow activities SAF-HOLLAND SE Hauptstrasse 26 63856 Bessenbach August 6, 2026 Publication Half-year Report H1 2026 Dana Unger August 18, 2026 Roadshow Toronto Vice President Investor Relations, Corporate
Slide 72: Disclaimer
Disclaimer This presentation has been prepared by SAF-HOLLAND SE (“SAF-HOLLAND”) and comprises written materials concerning SAF-HOLLAND. It is furnished to you solely for your information and may not be reproduced or redistributed, in whole or in part, to any other person. It contains summary inform