Slide 1: Investor Presentation September 2025
INVESTOR PRESENTATION SEPTEMBER 2025 MARK VAN GENDEREN – PRESIDENT & CEO SARAH LAUBER – EVP & CFO NATHAN ELWELL – VP, INVESTOR RELATIONS
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These statements include information relating to future events, future financial performance, strategies, expectations, compe
Slide 3: Douglas Dynamics Today
Where We Operate 2024 Net Sales by Segment DOUGLAS 45% DYNAMICS TODAY Net Sales North America’s premier manufacturer and upfitter of commercial work truck attachments and equipment. Products and solutions have enabled end-users 55% to perform their jobs more efficiently for over 75 years. Installati
Slide 4: Two Market Leading Segments
TWO MARKET LEADING SEGMENTS Work Truck Attachments (“WTA”) Work Truck Solutions (“WTS”) Leading commercial snow and ice control brands Customized solutions and upfit services (Class 4-8) Decades of innovation and defendable IP Strong relationships with truck OEMs Superior service and quality reinfor
Slide 5: Capabilities Across the Work Truck Market
CAPABILITIES ACROSS THE WORK TRUCK MARKET Class 1 – 3 Class 3 – 6 Class 7 – 8 © 2025 Douglas Dynamics, LLC 5
Slide 6: DD Leadership Philosophy
DD LEADERSHIP PHILOSOPHY People & Culture Strategy Performance Operational & Financial © 2025 Douglas Dynamics, LLC 6
Slide 7: Three Strategic Pillars
THREE STRATEGIC PILLARS Optimize Expand Activate Continuously improve Drive product Focus on strategic, to drive operational development and complex attachment efficiency and broaden portfolio of acquisitions to strengthen market work vehicle solutions diversify and balance leadership to meet evolvi
Slide 8: WTA: Optimize and Expand Portfolio
WTA: OPTIMIZE AND EXPAND PORTFOLIO Optimize Expand © 2025 Douglas Dynamics, LLC 8
Slide 9: Optimize and Expand Examples
OPTIMIZE AND EXPAND EXAMPLES WTA: Manufacturing WTS: Henderson Centers of Excellence Capacity Expansion Concentrate expertise to improve Upgrade Missouri Upfit Facility Safety, Quality, Delivery and Cost Sustained backlog growth drives +10% capacity expansion © 2025 Douglas Dynamics, LLC 9
Slide 10: Activate M&A
ACTIVATE M&A Key Criteria Heavy Complex High Vehicle Equipment Manufacturing Integration Premium Unique Product Properties Agriculture Mission Critical Strong Brand Performance and Reputation Work Truck Forestry Highly Established & Specialty Engineered Channel Presence Proprietary Technology / Regu
Slide 11: DD Financial Overview
DD FINANCIAL OVERVIEW DOUGLAS DYNAMICS
Slide 12: Q2 2025 (NYSE: PLOW)
“We are focused on optimizing our current business while Q2 2025 (NYSE: PLOW) pursuing growth opportunities to expand our offering. Our team delivered excellent results this quarter.” - Mark Van Genderen, President and CEO Key Consolidated Results* A Closer Look* Highlights $194.3M Work Truck Attach
Slide 13: Raised and Narrowed 2025 Outlook
RAISED AND NARROWED 2025 OUTLOOK* Updated 2025 Outlook Ranges* 2025 outlook and long-term financial Original Updated targets assume: Net Sales $610M - $650M $630M - $660M Relatively stable economic conditions Adj. EBITDA $75M - $95M $82M - $97M Stable to slightly improving supply of chassis and comp
Slide 14: Long-Term Targets
LONG-TERM TARGETS + Sales growth EBITDA % profile Disciplined Expand Product low to mid-single digits mid to high 20’s Acquisition Portfolio Strategy Deliver Long-Term Shareholder Value Sales growth EBITDA % profile mid to high-single digits low double digits to low teens Assumptions: average snowfa
Slide 15: Disciplined Capital Allocation Strategy
DISCIPLINED CAPITAL ALLOCATION STRATEGY Pay Dividend Return Cash to Shareholders • Dividend Yield = ~ 3.5% 01 • $50M Share Buyback authorization (2022) • Sustainable dividends remains a priority 05 • $12.9M returned in Q2 2025 via dividend and share buyback Invest to Drive Growth • Continue organic
Slide 16: Returning Capital to Shareholders
RETURNING CAPITAL TO SHAREHOLDERS • >$350 million paid in $30,000,000 Dividend Paid by Year $1.40 dividends since 2010 IPO $25,000,000 $1.20 $1.00 • Dividend Yield = ~ 3.5% $20,000,000 $0.80 $15,000,000 • Average annual dividends of $0.60 $22 million $10,000,000 $0.40 $5,000,000 $0.20 • Sustainable
Slide 17: Appendix
dd DOUGLAS DYNAMICS APPENDIX
Slide 18: WTA: Seasonal Sales
WTA: SEASONAL SALES Typical Net Sales by Quarter Trends More important / Core markets are east of 35 2Q + 3Q Pre-Season the Mississippi and north of the Ohio rivers. Shipments = ~65% 30 Influenced by start Low population density in Western U.S. of winter = 20-25% and western provinces of Canada limi
Slide 19: WTA: Improved Winter Weather 2024-25
WTA: IMPROVED WINTER WEATHER 2024-25 Highlights Snowfall Totals Oct. 2024 to • Increased snowfall in core Mar. 2025 Season markets. vs. Prior Year • Above-average ice events affected large parts of the 30% country. < Prior Year > Prior Year • Winter weather patterns Source: National Oceanic and Atmo