Terex Corporation · NYSE:TEX
Terex — Baird Global Industrial Conference 2025
14 slides from Terex's conference presentation, Nov 12, 2025
Slide 1: Baird Conference
+ Baird Conference November 12, 2025 1
Slide 2: Cautionary Statement About Forward-Looking Statements
Cautionary Statement About Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933, which involve risks and uncertainties. Any statements about Terex’s and
Slide 3: Additional Information
Additional Information Important Information and Where to Find It In connection with the proposed transaction, Terex will file with the SEC a Registration Statement on Form S-4 to register the shares of Terex common stock to be issued in connection with the transaction. The Registration Statement wi
Slide 4: Terex and REV to Merge ― A Transformative New Chapter
Terex and REV to Merge ― A Transformative New Chapter + Strong portfolio of diversified Resilient, low cyclical, $75M of readily Low capital intensity and specialty equipment with growing end markets achievable synergies attractive leverage position leading brands Bolsters combined Differentiated pr
Slide 5: Terex's Purposeful Strategic Transformation to Create a More Resilient Company
Terex’s Purposeful Strategic Transformation Actions Undertaken to Create a More Resilient Company July 2024 Focusing on core businesses that reduce cyclicality and deliver Announced $2B acquisition of consistent growth, stronger margins and predictable returns ESG, a market leading, strong growth, r
Slide 6: REV's Performance and Momentum Support Robust Growth Outlook
REV’s Performance and Momentum Support Robust Growth Outlook REV Group performance and outlook Tracking ahead of FY’27 targets3 2028 and Beyond Growth and industry-leading Adj. $310 EBITDA margin profile supported by Adj. EBITDA ($MM) 1 Sales CAGR4 $225 6% – 8% normalized backlog of (2024 – 2027) $1
Slide 7: Pro Forma Terex End Markets Growing at Mid to High Single Digits
Pro Forma Terex End Markets Growing at Mid to High Single Digits Emergency Vehicles Waste & Recycling Utilities Infrastructure % of ‘25E revenue1 ~30% ~30% ~10% ~20% 6-10%2 5%4 8-15%5 5%6 Growth Growth Growth Growth ✓ Backed by municipal tax receipts ✓ Essential service with strong ✓ Underpinned by
Slide 8: Establishing a Stable and Profitable Specialty Vehicle Portfolio Well-Positioned for Accelerated Growth and Value Creation
Establishing a Stable and Profitable Specialty Vehicle Portfolio Well- Positioned for Accelerated Growth and Value Creation 2025E2 Unites leading market positions across segments Sales Growth Adj. EBITDA Adj. EBITDA Revenue Margin Margin Growth Contribution Environmental Solutions Digger RevAMPTM El
Slide 9: Accelerate REV Operational Transformation to Lean High-Flow Manufacturing
Accelerate REV Operational Transformation to Lean High-Flow Manufacturing Manufacturing Synergy Example Leverage Terex’s strength and proven results on Digital Manufacturing Execution Systems (MES) and Advanced Supply Planning to achieve higher Training Quality Output Efficiency throughput while imp
Slide 10: $75M in Clearly Identified and Executable Synergies
$75M in Clearly Identified and Executable Synergies Complementary cultures and systems enhance business performance and drive value creation Corporate Overhead Procurement Operations $75M Run-Rate Synergies 1,2 ~50% ~25% ~20% Significant Value Creation ~50% achieved 12 months after closing Fully-rea
Slide 11: Terex and REV Accelerates Shareholder Value Creation
Terex and REV Accelerates Shareholder Value Creation Strategic Growth Priorities Terex + REV – Aerials Expand portfolio Strong portfolio of businesses with leading brands Accelerate profitable growth Unlocks $75M of run-rate synergies New products, multiple channels Enhanced exposure to highly-attra
Slide 12: Appendix
4 Append 12 R= TEREX
Slide 13: Transaction Summary
Transaction Summary • Strategic merger of Terex Corporation (“Terex”) and REV Group (“REV”) in a stock and cash transaction Transaction • Combined equity value of ~$7B and enterprise value of ~$9B at announcement 1 Structure • Announces plan to exit Terex Aerials segment, including potential sale o
Slide 14: Compelling Financial Profile of the Combined Company
Compelling Financial Profile of the Combined Company 2025E Sales $2.4 $7.8 ($B) $5.4 $5.8 ($2.0)1 Aerials + + (ex. Aerials) 2025E Adj. EBITDA $0.9 $0.6 $0.2 ($0.1) $0.8 ($B)2 Excludes synergies Includes $75M of run-rate 2025E Adj. EBITDA synergies 12% 9% 11%3 6%1 14% Margin (%)2 Source: Management e