Hiab Oyj : Half-year financial report January-June 2026 - Presentation

About this update from Hiab Oyj Class B

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 2 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. 3 Q2/26 Interim report Contents Strategic development CEO Scott Phillips Group level development CEO Scott Phillips Reporting segments CFO Mikko Puolakka Financials and Outlook CFO Mikko Puolakka Key takeaways CEO Scott Phillips Q&A Scott Phillips & Mikko Puolakka 4 Q2/26 Interim report 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 numbers 1 Portfolio overview Attractive sales mix 2 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 EBITDA 1 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&R 1 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 9 Note: 1 Waste and Recycling Q2/26 Interim report 2. Group level development 10 Orders received in Q2/26 reached the highest level in four years Orders received and order book MEUR Q2/26 Q2/25 Change Q1-Q2/26 Q1-Q2/25 Change Orders received 437 377 16% 839 755 11% Orders received, organic* 13% 10% Order book 589 556 6% 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 Q2/26 Q2/25 Change Q1-Q2/26 Q1-Q2/25 Change EMEA 220 188 17% 426 391 9% AMER 191 159 20% 357 303 18% APAC 26 30 -11% 56 60 -7% 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 Q2/26 Q2/25 Change Q1-Q2/26 Q1-Q2/25 Change Sales 403 402 0% 786 814 -3% Sales, organic* -3% -4% Share of Services, % 30% 29% 30% 29% 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 Q2/26 Q2/25 Change Q1-Q2/26 Q1-Q2/25 Change EMEA 218 203 7% 419 395 6% AMER 160 173 -7% 316 368 -14% APAC 26 27 -4% 51 51 1% Eco portfolio sales 181 155 17% 357 297 20% Eco portfolio sales, % 45% 38% 45% 37% 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) % 14 Comparable operating profit increased with stable sales Comparable operating profit MEUR Q2/26 Q2/25 Change Q1-Q2/26 Q1-Q2/25 Change Comparable EBITA 62 61 2% 115 127 -10% Comparable EBITA, % 15.4% 15.2% 14.6% 15.7% Comparable operating profit 61 60 1% 112 126 -11% Comparable operating profit, % 15.1% 15.0% 14.3% 15.5% Operative ROCE, LTM 25.0% 30.4% 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 CAGR 1 >7% Rolling 10-year average 4% Comparable Operating Profit 16% LTM 13.0% ROCE 2 >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 Q2/26 Q2/25 Change Q1-Q2/26 Q1-Q2/25 Change Orders received 310 256 21% 593 514 15% Order book 525 496 6% Sales 281 284 -1% 547 578 -5% Comparable operating profit 38 39 -3% 70 86 -18% Comparable operating profit, % 13.6% 13.9% 12.9% 14.8% 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 Q2/26 Q2/25 Change Q1-Q2/26 Q1-Q2/25 Change Orders received 127 121 5% 246 241 2% Order book 64 61 5% Sales 123 118 4% 240 236 2% Comparable operating profit 32 30 8% 60 57 4% Comparable operating profit, % 26.1% 25.0% 24.9% 24.3% 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 MEUR Q2/26 Q2/25 Change Sales 403 402 0% Gross profit 122 124 -2% Gross profit, % 30.3% 30.9% Comparable EBITA 62 61 2% Comparable EBITA, % 15.4% 15.2% Comparable operating profit 61 60 1% Operating profit 50 60 -18% Operating profit, % 12.3% 15.0% Net financial expenses -1 -1 -7% Profit for period before taxes 48 59 -18% Income taxes -14 -15 -11% Profit for the period 35 44 -20% Basic earnings per share, EUR 0.54 0.67 * 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. 26 *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 27 Q2/26 Interim report 5. Q&A 28 Q2/26 Interim report Appendix 29 Q2/26 Interim report Key financial figures MEUR Q2/26 Q2/25 Change Q1-Q2/26 Q1-Q2/25 Change Orders received 437 377 16% 839 755 11% Order book 589 556 6% Sales 403 402 0% 786 814 -3% Gross profit, % 30.3% 30.9% 29.3% 31.3% Comparable EBITA 62 61 2% 115 127 -10% Comparable EBITA, % 15.4% 15.2% 14.6% 15.7% Comparable operating profit 61 60 1% 112 126 -11% Comparable operating profit, % 15.1% 15.0% 14.3% 15.5% Operating profit 50 60 -18% 90 126 -29% Profit for the period 35 44 -20% 64 90 -28% Basic earnings per share 0.54 0.67 -20% 1.00 1.39 -28% Operative ROCE, % 25.0% 30.4% 30 Continuing operations Q2/26 Interim report Key targets to measure success by 2028 Sales CAGR 1 >7% Comparable Operating Profit 16% ROCE 2 >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

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