Slide 1: Q1 2026 Results
Q1 2026 Results 1 Investor Relations 29/04/2026 Q1 2026 RESULTS ANALYST / INVESTOR PRESENTATION Christian Levin, CEO Dr. Michael Jackstein, CFO & CHRO 29/04/2026
Slide 2: Agenda
Q1 2026 Results 2 Investor Relations 29/04/2026 AGENDA 1. Key results & highlights 2. Financial performance & outlook 3. Backup
Slide 3: Disclaimer
Q1 2026 Results 3 Investor Relations 29/04/2026 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 securities o
Slide 4: Key Results & Highlights
Q1 2026 Results 4 Investor Relations 29/04/2026 KEY RESULTS & HIGHLIGHTS
Slide 5: Slow Start Into The Year, Coming With More Uncertainties, But …
Q1 2026 Results 5 Investor Relations 29/04/2026 SLOW START INTO THE YEAR, COMING WITH MORE UNCERTAINTIES, BUT … Q1 2026 Unit Sales Adjusted Net cash flow Earnings per share Incoming sales revenue return on sales TRATON orders Operations 68,604 €10.2bn 5.7% -€250m €0.45 87,775 -6% YoY -4% YoY -0.4pp
Slide 6: Encouraging Demand Signals Raising Book-To-Bill Ratio To 1.3
Q1 2026 Results 6 Investor Relations 29/04/2026 … ENCOURAGING DEMAND SIGNALS RAISING BOOK-TO-BILL RATIO TO 1.3 EU27+3: Incoming orders & Unit sales (k units) ― Truck order intake almost stable (-1%) in Q1 vs. a strong pre-tariff Q1 25, with encouraging signs Incoming orders Unit sales overall except
Slide 7: Brands Highly Committed To Deliver On Strategic Initiatives For Long-Term Success
Q1 2026 Results 7 Investor Relations 29/04/2026 BRANDS HIGHLY COMMITTED TO DELIVER ON STRATEGIC INITIATIVES FOR LONG-TERM SUCCESS … TRATON GROUP and Scania delivered its first MAN introduced International launched VWTB celebrated its TRATON Financial Applied Intuition NEXT ERA trucks in “MAN2030+” w
Slide 8: … Including BEV-Transformation
Q1 2026 Results 8 Investor Relations 29/04/2026 … INCLUDING BEV- TRANSFORMATION Unit sales of fully electric vehicles (units) Q1 26 Q1 25 857 621 +38% YoY Incoming orders of fully electric vehicles (units) Q1 26 Q1 25 1,252 866 +45% YoY
Slide 9: 2026 Truck Market Outlook Maintained
Q1 2026 Results 9 Investor Relations 29/04/2026 2026 TRUCK MARKET OUTLOOK MAINTAINED 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: -5% – +10% (mid-point +2.5%) 2026e: -10% – 0% (mid-point -5%
Slide 10: Financial Performance & Outlook
Q1 2026 Results 10 Investor Relations 29/04/2026 FINANCIAL PERFORMANCE & OUTLOOK
Slide 11: Slow Start But Recovery In Sight
Q1 2026 Results 11 Investor Relations 29/04/2026 SLOW START BUT RECOVERY IN SIGHT ― Q1 unit sales down by 6%, influenced by: Unit sales (k units) Sales revenue (€ bn) ― Increasing unit sales in EU27+3 (+11% YoY) driven by MAN, but not enough to Vehicle Services business compensate for … ― Declining
Slide 12: Adjusted Q1 RoS Within The Guidance Range While Adjustments Sum Up To €521M
Q1 2026 Results 12 Investor Relations 29/04/2026 ADJUSTED Q1 ROS WITHIN THE GUIDANCE RANGE WHILE ADJUSTMENTS SUM UP TO €521M Decline in Q1 adj. RoS YoY due to: Adjusted operating result (€ m) Adjusted return on sales (%) ― Declining unit sales ― Tariff costs (Section 232 + IEEPA) ― Foreign currency
Slide 13: Continued Strong Performance At MAN Contributing Positively To TRATON Operations
Q1 2026 Results 13 Investor Relations 29/04/2026 CONTINUED STRONG PERFORMANCE AT MAN CONTRIBUTING POSITIVELY TO TRATON OPERATIONS TRATON Operations1 Q1 Sales revenue 9,779 4,203 3,309 1,768 665 598 26 (in € m, YoY) (-5%) (-4%) (+8%) (-19%) (-18%) (+13%) Adjusted RoS 6.9% 11.0% 7.2% -4.0% 10.2% 9.0%
Slide 14: Net Cash Flow Also With A Slow Start, Reflecting Normal Seasonal Trends
Q1 2026 Results 14 Investor Relations 29/04/2026 NET CASH FLOW ALSO WITH A SLOW START, REFLECTING NORMAL SEASONAL TRENDS ― Net cash flow of TRATON Operations in Q1 2026 Net liquidity/net debt bridge, Q1 2026 (€ m) TO = TRATON Operations characterized by: CI = Corporate Items ― Weak operating perform
Slide 15: 2026 Outlook Maintained, But More Uncertainties
Q1 2026 Results 15 Investor Relations 29/04/2026 2026 OUTLOOK MAINTAINED, BUT MORE UNCERTAINTIES FY 2025 FY 2026 Actuals Outlook TRATON GROUP Unit sales (units) 305,486 -5 to +7% Sales revenue (€ million) 44,052 -5 to +7% Operating return on sales (adjusted) (in %) 6.3 5.3 to 7.3 TRATON Operations S
Slide 16: Backup
Q1 2026 Results 16 Investor Relations 29/04/2026 BACKUP
Slide 17: Restatement From Legal View To Management View
Q1 2026 Results 17 Investor Relations 29/04/2026 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 allocate
Slide 18: TRATON Operations – Incoming Orders
Q1 2026 Results 18 Investor Relations 29/04/2026 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 Q1 QoQ Q1 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 11% 18% Trucks
Slide 19: TRATON Operations – Incoming Orders By Region
Q1 2026 Results 19 Investor Relations 29/04/2026 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 Q1 QoQ Q1 YoY Trucks 53,034 45,098 50,823 59,564 208,519 58,891 52,500 50,426 62,426 224,243 71,100 14% 21% EU27+3
Slide 20: TRATON Operations – Unit Sales
Q1 2026 Results 20 Investor Relations 29/04/2026 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 Q1 QoQ Q1 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 -15% -6% Trucks 68,772 6
Slide 21: TRATON Operations – Unit Sales By Region
Q1 2026 Results 21 Investor Relations 29/04/2026 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 Q1 QoQ Q1 YoY Trucks 68,772 63,600 72,861 72,897 278,130 57,566 63,742 54,929 63,546 239,783 53,535 -16% -7% EU27+3 27,878 26
Slide 22: TRATON Group – Sales Revenue
Q1 2026 Results 22 Investor Relations 29/04/2026 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 Q1 QoQ Q1 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 -13% -4% TRATON Operations 11,47
Slide 23: TRATON Group – Operating Result & Return On Sales
Q1 2026 Results 23 Investor Relations 29/04/2026 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 Q1 QoQ Q1 YoY TRATON GROUP 1,057 1,008 1,038 1,106 4,209 651 607 465 703 2,426 60 -91% -91% TRATON Operations 1,
Slide 24: TRATON Group – Adj. Operating Result & Adj. Return On Sales
Q1 2026 Results 24 Investor Relations 29/04/2026 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 Q1 QoQ Q1 YoY TRATON GROUP 1,106 1,015 1,140 1,123 4,384 646 725 668 734 2,773 582 -21% -10% TRAT
Slide 25: TRATON Operations – Cash And Liquidity
Q1 2026 Results 25 Investor Relations 29/04/2026 TRATON OPERATIONS – CASH AND LIQUIDITY TRATON Operations (€ m) 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 Q4 25 FY 25 Q1 26 Q4 QoQ Q4 YoY Gross cash flow 1,300 1,570 1,354 1,323 5,546 1,423 1,452 1,398 1,536 5,809 93
Slide 26: TRATON Group – Debt Maturity Profile
Q1 2026 Results 26 Investor Relations 29/04/2026 TRATON GROUP – DEBT MATURITY PROFILE (AS OF 31 MARCH 2026) Major financings 2 Maturity profile (€ bn)1 ― Total of €12.3bn (equivalent) TFL Bonds outstanding (tranches of 1y to 12y) ― €4.5bn syndicated RCF undrawn ― €50m Schuldschein outstanding 12.0 (
Slide 27: IR Contact And Events
Q1 2026 Results 27 Investor Relations 29/04/2026 IR CONTACT AND EVENTS Contacts Events Ursula Querette Thomas Paschen Head of Investor Relations Investor Relations 30 Apr 2026 Morgan Stanley Post Q1 2026 Roadshow | +49 152 021 52 400 +49 170 907 34 94 London ursula.querette@traton.com thomas.paschen