Slide 1: Comparable operating profit margin continued to improve in 2025
Comparable operating profit margin continued to improve in 2025 Hiab’s Financial statements review 2025
Slide 2: Highlights of 2025
Q4/25 Interim report Highlights of 2025 − Market environment was characterised by increased trade tensions and uncertainties − Orders received remained at past two years’ level − Record high full year comparable operating profit margin of 13.7% despite 6% lower sales − Record year in Services − Stron
Slide 3: Disclaimer
Q4/25 Interim report Disclaimer The following applies to this presentation, the oral presentation of the information in this presentation by Hiab Corporation (the “Company” or “Hiab”) or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation (coll
Slide 4: Contents
Q4/25 Interim report Contents 1. Group level development CEO Scott Phillips 2. Strategic development CEO Scott Phillips 3. Reporting segments CFO Mikko Puolakka 4. Financials and Outlook CFO Mikko Puolakka 5. Key takeaways CEO Scott Phillips 6. Q&A Scott Phillips & Mikko Puolakka 4
Slide 5: Group level development
Q4/25 Interim report 1. Group level development 5
Slide 6: Orders received remained at the previous two years' level
Q4/25 Interim report Orders received remained at the previous two years’ level Orders received and order book MEUR* MEUR Q4/25 Q4/24 Change 2025 2024 Change Orders received 375 414 -9% 1,481 1,509 -2% Order received, organic** -6% 0% Order book 534 648 -18% - Orders received were unchanged in consta
Slide 7: Gradual recovery in other regions was offset by decline in the US market
Q4/25 Interim report Gradual recovery in other regions was offset by decline in the US market Orders received by geographical area, 2025 MEUR MEUR Q4/25 Q4/24 Change 2025 2024 Change APAC 8% EMEA 208 218 -5% 794 736 8% EMEA 54% AMER 137 164 -16% 572 668 -14% APAC 30 32 -5% 114 104 10% Operating envi
Slide 8: Sales in 2025 impacted by lower order book and trade tensions
Q4/25 Interim report Sales in 2025 impacted by lower order book in the beginning of year and market uncertainty related to trade tensions Sales MEUR* MEUR Q4/25 Q4/24 Change 2025 2024 Change Sales 396 412 -4% 1,556 1,647 -6% Sales, organic** 0% -4% Share of Services, % 29% 29% 30% 28% - Sales in H2/
Slide 9: Majority of the sales decline came from the Americas
Q4/25 Interim report Majority of the sales decline came from the Americas Sales by geographical area, 2025 MEUR MEUR Q4/25 Q4/24 Change 2025 2024 Change APAC 7% EMEA 212 205 3% 785 804 -2% EMEA 50% AMER 154 179 -14% 662 735 -10% APAC 30 28 8% 110 108 1% Eco portfolio sales 135 122 11% 572 476 20% Ec
Slide 10: Comparable operating profit margin improved despite lower sales
Q4/25 Interim report Comparable operating profit margin improved despite lower sales Years 2017-2022 have not been restated and do Comparable operating profit not include group and MEUR* admin costs MEUR Q4/25 Q4/24 Change 2025 2024 Change Comparable operating profit 47 41 15% 213 217 -2% Comparable op
Slide 11: Strategic development
Q4/25 Interim report 2. Strategic development 11
Slide 12: Building a foundation for clarity, speed and ownership
Q4/25 Interim report Building a foundation for clarity, FOCUS: PEOPLE • CUSTOMER • INNOVATION speed and ownership Moving from six divisions to three business areas* Streamlined End-to-End Agility & Hiab Leadership Team as of 1 April 2026: Organization Accountability Adaptation CEO & President Scott
Slide 13: Proactive measures to secure competitiveness
Q4/25 Interim report Proactive measures to secure competitiveness Overview of the programme targeting EUR 20 million lower cost level in 2026 compared to 2025 Breakdown of targeted savings* Planned change in ZEPRO tail lift assembly* Non- Personnel Costs Assembly of ZEPRO tail lifts would be moved t
Slide 14: Clear progress in strategic focus areas in 2025
Q4/25 Interim report Clear progress in strategic focus areas in 2025 HIAB & MOFFETT HIPERFORM HIAB MGX and Custom Truck new US dealers Over 25,000 service contracts ING acquisition completed Hiab announced in February 2026, that it had Humber of ProCare service contracts reached over Hiab acquired I
Slide 15: We are executing our strategy
Q4/25 Interim report We are executing our strategy #1 or #2 Position in all segments 1 Leading market positions in growing and attractive essential industries Positioned to 2 focused segment strategy Set to grow through continued innovation and grow faster than the market 3 North American market Gea
Slide 16: On track to deliver on our 2028 financial targets
Q4/25 Interim report On track to deliver on our 2028 financial targets Comparable 2028 Sales CAGR1 Operating Profit ROCE2 financial targets >7% 16% >25% Rolling 10-year average LTM LTM 5.5% 30.8% Progress, 2025 13.7% 1 Over the cycle, LTM 10 year average 16 2 Defined as (Operating Profit / Operative Capi
Slide 17: Reporting segments
Q4/25 Interim report 3. Reporting segments 17
Slide 18: Mixed results in different equipment categories
Q4/25 Interim report Mixed results in different equipment categories Equipment, Orders received, Order book & Sales MEUR MEUR Q4/25 Q4/24 Change 2025 2024 Change Orders received 258 295 -13% 1,010 1,059 -5% Order book 476 590 -19% Sales 280 294 -5% 1,088 1,185 -8% Comparable operating profit 34 25 38
Slide 19: Equipment's comparable operating profit was impacted by lower sales
Q4/25 Interim report Equipments’ comparable operating profit was impacted by lower sales especially in short cycle delivery equipment Equipment, Comparable operating profit Equipment, Comparable operating profit bridge* MEUR MEUR -15 MEUR one-off -3 MEUR one-off items in Q4/24, items in Q4/25, underlyi
Slide 20: Services grew 4% in Q4 and 7% in 2025
Q4/25 Interim report Services grew 4% in Q4 and 7% in 2025 in constant currencies driven by recurring services Services, Orders received, Order book & Sales MEUR MEUR Q4/25 Q4/24 Change 2025 2024 Change Orders received 117 118 -1% 470 450 5% Order book 58 58 2% Sales 116 118 -1% 469 462 1% Comparabl
Slide 21: Services profitability was impacted by currency headwind and low installation volumes
Q4/25 Interim report Services profitability was impacted by currency headwind and low installation volumes Services, Comparable operating profit Services, Comparable operating profit bridge* MEUR MEUR Comparable operating profit Comparable operating profit, % 21 *Indicative management estimate
Slide 22: Financials and outlook
Q4/25 Interim report 4. Financials and outlook 22
Slide 23: Income statement
Q4/25 Interim report Income statement Income statement Comparable operating profit bridge* MEUR Q4/25 Q4/24 Change MEUR Sales 396 412 -4% Gross profit 114 108 5% One-off items in Q4/24 moved to Gross profit, % 28.8% 26.3% Other EBITA 43 42 2% Comparable operating profit 47 41 15% Operating profit 42 41 3
Slide 24: Strong cash generation continued
Q4/25 Interim report Strong cash generation continued Cash flow from operations before finance items and taxes, Q4/25 MEUR 24 *Cash flow from operations before finance items and taxes
Slide 25: Very strong balance sheet enabling organic and inorganic growth
Q4/25 Interim report Very strong balance sheet enabling organic and inorganic growth Net debt and gearing Maturity profile, 31 December 2025 MEUR MEUR Net debt Other interest bearing liabilities Lease liabilities Gearing, % (RHS) Corporate bonds and loans from financial institutions 25
Slide 26: Board is proposing a 50% dividend distribution
Q4/25 Interim report Board is proposing a 50% dividend distribution according to the policy Board of Directors proposal on dividend distribution of 2025 profit to Record date for dividend distribution is proposed to be 26 March the Annual General Meeting to be held on 24 March 2026 in Helsinki 2025 a
Slide 27: Outlook for 2026
Q4/25 Interim report Outlook for 2026 Hiab estimates: Comparable operating profit margin in 2026 to be above 13.0% (2025: 13.7%). 27
Slide 28: Key takeaways
Q4/25 Interim report Key takeaways − We see gradual recovery in lifting equipment in EMEA while delivery equipment market in the US is in a trough − We reached record high comparable operating profit margin despite decline in sales − We are targeting to lower our cost level by EUR 20 million in 2026
Slide 29: Q&A
Q4/25 Interim report 5. Q&A 29
Slide 30: Appendix
Q4/25 Interim report Appendix 30
Slide 31: Key financial figures
Q4/25 Interim report Key financial figures MEUR Q4/25 Q4/24 Change 2025 2024 Change Orders received 375 414 -9% 1,481 1,509 -2% Order book 534 648 -18% Sales 396 412 -0 1,556 1,647 -6% Gross profit, % 28.8% 26.3% 30.1% 29.1% EBITA 43 42 211 220 -4% Comparable operating profit 47 41 15% 213 217 -2% Compa
Slide 32: Key targets to measure success by 2028
Q4/25 Interim report Key targets to measure success by 2028 Comparable Sales CAGR1 Operating Profit ROCE2 Sustainability >7% 16% >25% SBTi Gearing Growing Dividend of <50% 30-50% of EPS 1 Over the cycle 32 2 Defined as (Operating Profit / Operative Capital Employed)
Slide 33: Built to perform
BUILT TO PERFORM HIAB • JONSERED • LOGLIFT • EFFER • ARGOS • MULTILIFT • GALFAB • MOFFETT • PRINCETON • WALTCO • DEL • ZEPRO • HIPERFORM