Half-year financial report January-June 2026 - Presentation

Orders received increased by 16 percent in Q2

Hiab's interim report January-June 2026

Q2/26 Interim report

Highlights of Q2/26

− Book-to-bill was positive in all geographies for second consecutive quarter

− Comparable operating profit increased to EUR 61 (60) million with stable sales

− Outlook for 2026 specified

− USD 1,035 million Labrie acquisition in the waste & recycling segment was completed on 1 July

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Q2/26 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 (collectively, the "Information"). In accessing the Information, you agree to be bound by the following terms and conditions.

This presentation does not constitute an offer of or an invitation by or on behalf of Hiab, or any other person, to purchase any securities.

The Information includes "forward-looking statements" that are based on present plans, estimates, projections and expectations and are not guarantees of future performance. They are based on certain expectations and assumptions, which, even though they seem to be reasonable at present, may turn out to be incorrect. Shareholders should not rely on these forward-looking statements. Numerous factors may cause the actual results of operations or financial condition of Hiab to differ materially from those expressed or implied in the forward-looking statements. Information in this presentation, including but not limited to forward-looking statements, applies only as of the date of this presentation and is not intended to give any assurances as to future results.

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Q2/26 Interim report

Contents

1. Strategic development CEO Scott Phillips

2. Group level 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

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Q2/26 Interim report

1. Strategic development

   5

   
   
   

   We continue to shape the essential industries with pioneering innovations

   MULTILIFT HIAB & MULTILIFT HIAB Hiab Defence Logistics
   
   
   
   

   All-new MULTILIFT Optima range

   Hiab launched an all-new MULTILIFT Optima hooklift range, which brings next-generation capabilities to the mid-market segment through several core technological and design enhancements across all four solutions: The updated classic 20S and 25S and the new 20Z and 25Z, which combine sliding and tilting movements seamlessly within a single configuration.

   1 and 2 in VAK Innovationspreis 2026
   
   HIAB wspr+ received a first and MULTILIFT L2 Driver Support a second prize at the VAK Innovationspreis 2026 during the IFAT event in Germany. HIAB wspr+, fully integrated crane ePTO-system, enables quiet, emissions-free operation. MULTILIFT L2 Driver Support and its semi-automated assistance system improves safety and efficiency of container handling.

   Hiab redefines military logistics

   Hiab launched a suite of mission-ready logistics innovations at Eurosatory 2026., the HIAB 1622 ATF loader crane that combines heavy-duty lifting capacity with a low profile and long outreach and the HIAB JMIC Top Handler, which is designed for handling JMIC containers, a standard in defence and military logistics.

   6

   Acquisition of Labrie Environmental Group, a leading provider of refuse collection vehicles in North America, is a major milestone in inorganic growth

   
   
   
   
   Labrie in numbers1 Portfolio overview Attractive sales mix2

   Sales

   491 MUSD

   Parts & Service

   Equipment

   
   
   

   Comparable operating profit / margin

   83 MUSD / 17%

   
   
   
   
   

   Comparable EBITDA / margin

   113 MUSD / 23%

   Side Loaders

   
   
   

   Front Loaders

   Order book (as per March 2026)

   ~435 MUSD

   
   
   

   Rear Loaders

   Sales in North America

   100%

   
   
   

   Services & Parts

   Premium customers
   
   

   Rental companies

   Municipal/

   Independent regional

   National accounts

   Most critical applications

   Commercial

   Residential

   
   
   

   Notes: 1 Figures presented according to US GAAP and represent last 12 months as per March 2026. 2 Represents FY2025 management estimates. 7

   Overview of the transaction announced on 1 June 2026

   Purchase price

   • Purchase price of 1,035 MUSD on cash-free, debt-free basis

   • Last 12 months Comparable EBITDA1 multiple of 9.2x

     Financial impact

   • Enhanced financial profile that is expected to be both margin- and growth-accretive, with increased cash generation from more diversified end markets

   • Expected synergies in sales and procurement

• 100% cash consideration to be financed with cash at hand and additional debt of 900 MEUR

Financing

• Had the acquisition been completed at the end of the Q1 2026, the planned financing would have resulted in a pro forma gearing of

  approximately 70 percent and a pro forma Net debt to EBITDA of 2.1x

• Long-term target for gearing below 50%, supported by continued strong cash generation

Closing

• Closing on 1 July 2026

• Labrie forms a new business area within Hiab, Environmental Vehicle Solutions

• Labrie's President and CEO, Michael Eastabrook joined Hiab Leadership Team as President Environmental Vehicle Solutions

• Labrie will for be consolidated into Hiab from Q3/26 onwards

Notes: 1 Last 12 months as per March 2026. 8

Delivering on our strategy through inorganic growth

1 or 2 position in all segments Positioned to grow faster than the market Profitability upside Sustainable value creation

1 2 3 4 5 6

Key investment highlights

Leading market positions in growing and attractive essential industries

Set to grow through continued innovation and focused segment strategy

Geared to expand leading position in growing North American market

Further leveraging of sizable installed base and connectivity to accelerate Services growth

Operating model enabling incremental efficiency improvement

Best-in-class financial profile with

further value creation potential through M&A

✔ ✔ ✔ ✔ ✔ ✔

Acquisition

1 market position in

Automated Side Loaders in North America

Innovation leadership

in attractive W&R1 segment which is one of our four selected key segments

Expands North

American footprint in manufacturing and sales channels

Sets foundation for

strong aftermarket business with further growth potential

New best-in-class

business

Highly attractive

long-term value creation and well aligned with Hiab's M&A criteria

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Note: 1 Waste and Recycling

Q2/26 Interim report

2. Group level development

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Orders received in Q2/26 reached the highest level in four years

Orders received and order book

MEUR

• Currencies had a negative EUR 4 million impact on orders received

• ING Cranes' orders received amounted to EUR 17 million in Q2/26

• EUR 37 million truck mounted forklift order from a US home improvement segment customer

• Order book continued to increase due to positive book-to-bill in all geographies

Orders received Order book

Orders received, LTM (RHS)

11

*in constant currencies excluding structural changes

Orders received increased in EMEA and the Americas

Orders received by geographical area, Q2/26

MEUR

APAC 6 (8) %

EMEA 50 (50) %

Operating environment

• Gradual market recovery continued in EMEA

• US market recovered modestly in Q2

• Positive book-to-bill in APAC

- Geopolitical and trade tensions have elevated uncertainty of the global growth outlook and slowing customer decision making

Americas 44 (42) %

12

Sales were at the comparison period's level and increased sequentially

Sales

MEUR

• ING Cranes' sales, EUR 15 million, had a positive 4 percentage point impact in Q2

• Currencies had a negative 1 percentage point impact in Q2

• Share of Services increased to 30 percent

Sales

Sales, LTM (RHS)

13

*in constant currencies, excluding structural changes

Sales growth in EMEA, offset by decline in the Americas

Sales by geographical area, Q2/26

MEUR

EMEA 54 (50) %

APAC 6 (7) %

• Americas sales decline came from the US, partly offset by ING Cranes acquisition in Brazil

• Sales in EMEA increased

• APAC sales were stable YTD despite decline in Q2

• Eco portfolio sales increased in climate and in circular solutions

Americas 40 (43) %

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Comparable operating profit increased with stable sales

Comparable operating profit

MEUR

• Comparable operating profit increased driven by Lifting equipment and Services

• Low order intake in US delivery equipment business in 2025 negatively impacted sales and comparable operating profit

• Operative ROCE decreased mainly due to lower LTM comparable operating profit and items affecting comparability

Comparable operating profit

Comparable operating profit, % (RHS)

Comparable operating profit, % LTM (RHS)

15

Operative ROCE defined as (Operating profit / Operative capital employed)

Q2/26 Interim report

On track to deliver on our 2028 financial targets

2028

financial targets

Progress, Q2/26

Sales CAGR1

>7%

Rolling 10-year average

4%

Comparable Operating Profit

16%

LTM

13.0%

ROCE2

>25%

LTM

25.0%

1 Over the cycle, LTM 10 year average 16

2 Defined as (Operating Profit / Operative Capital Employed)

Q2/26 Interim report

2. Reporting segments

17

Order growth was driven by both lifting and delivery equipment, while sales grew only in lifting equipment

Equipment, Orders received, Order book & Sales

MEUR

Orders received

Order book

Sales

• Double digit order growth in both Lifting equipment and Delivery equipment

• Order book grew by 6 percent

• Sales decreased in the US delivery equipment business, offset by increase in other regions and in Lifting equipment

• Comparable operating profit was impacted by lower sales in delivery equipment in the US

18

Lower comparable operating profit due to sales decline in the US delivery equipment business

Equipment, Comparable operating profit bridge*

MEUR

Equipment, Comparable operating profit

MEUR

Comparable operating profit

Comparable operating profit, % (RHS)

Comparable operating profit, % LTM (RHS)

* Indicative management estimate 19

** gross profit margin

Orders received, sales and comparable operating profit growth driven by recurring services

Services, Orders received, Order book & Sales

MEUR

• Recurring services continued to grow through executing our strategy

• Non-recurring services decreased

• In constant currencies, Services sales increased by 5 percent in Q2/26 and in H1/26

Orders received

Order book

Sales

20

Record high comparable operating profit margin in Services

Services, Comparable operating profit bridge*

MEUR

Services, Comparable operating profit

MEUR

Comparable operating profit

Comparable operating profit, % (RHS)

Comparable operating profit, % LTM (RHS)

* Indicative management estimate 21

** gross profit margin

Q2/26 Interim report

3. Financials and outlook

22

Income statement

Comparable operating profit bridge*

MEUR

Income statement

* Indicative management estimate

** Services and Equipment 23

*** Gross profit margin

Cash generation was impacted by increase in net working capital

Cash flow from operations before finance items and taxes, Q2/26

MEUR

*Cash flow from operations before finance items and taxes 24

Maturity profile reflects the new term loans used to finance the acquisition of Labrie on 1 July 2026

Net debt and gearing, end of period Maturity profile, 30 June 2026

MEUR

Net debt

MEUR

Gearing, % (RHS)

Lease liabilities

Other interest bearing liabilities

Corporate bonds and loans from financial institutions

25

Outlook for 2026 specified

Hiab estimates:

Comparable operating profit margin in 2026 to be above 14.5 (2025: 13.7) percent*.

Previous outlook (published 24 April 2026):

Comparable operating profit margin in 2026 to be above 13.5 (2025: 13.7) percent.

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*comparable operating profit excludes PPA amortization related to Labrie Environmental Group's order book

Key takeaways

− Good performance in the H1/2026

− Double digit order growth in Q2, supported by sizable orders

− Increased order book and programme targeting EUR 20 million lower cost level is estimated to support H2 profitability

− Labrie will be consolidated into Hiab starting from Q3/26

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Q2/26 Interim report

5. Q&A

28

Q2/26 Interim report

Appendix

29

Q2/26 Interim report

Key financial figures

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Continuing operations

Q2/26 Interim report

Key targets to measure success by 2028

Sales CAGR1

>7%

Comparable Operating Profit

16%

ROCE2

>25%

Sustainability

SBTi

Gearing

<50%

Growing Dividend of

30-50% of EPS

1 Over the cycle 31

2 Defined as (Operating Profit / Operative Capital Employed)

BUILT TO PERFORM

HIAB • EFFER • ARGOS • ING • LOGLIFT • JONSERED • MULTILIFT • GALFAB • MOFFETT • PRINCETON • WALTCO • DEL • ZEPRO • HIPERFORM