Jungheinrich : Presentation virtual analyst conference FY 2025

About this update from Jungheinrich Ag Pref

‌Virtual analyst conference for the 2025 financial year and outlook for 2026 Dr Lars Brzoska (Chairman of the Board of Management) Heike Wulff (Member of the Board of Management, Finance) Hamburg, 27 March 2026 ‌2025 Highlights Key figures for 2025 Outlook for 2026 Dr Lars Brzoska Heike Wulff Dr Lars Brzoska Additional information ‌Board of Management team Dr Lars Brzoska Chairman of the Board of Management, Corporate Nadine Despineux Member of the Board of Management, Sales Dr Tobias Harzer Member of the Board of Management, Automation & Warehouse Equipment Maik Manthey Member of the Board of Management, Technics Heike Wulff Member of the Board of Management, Finance 3 ‌Incoming orders (€5.4 billion) and revenue (€5.5 billion) robust Strategy 2030+ successfully launched in first year EBIT, adjusted for one-off effects, of €448 million (EBIT ROS 8.1%) Transformation programme largely implemented Free cash flow is strong at €314 million Market entry into Mid-Tech segment started positively Dividend proposal: payment ratio stable at 28 per cent Implementation of new segment structure completed 4 Business development robust in 2025, earnings impacted by one-off effects ‌2025 forecast achieved Actual 2025 Forecast 5 December 2025 1 Incoming orders in € billion 5.4 5.4 - 5.6 Revenue in € billion 5.5 5.4 - 5.6 EBIT in € million 228 220 - 260 EBIT ROS in % 4.2 4.1 - 4.6 EBT in € million 196 190 - 230 EBT ROS in % 3.6 3.6 - 4.1 ROCE in % 8.3 7.0 - 11.0 Free cash flow in € million 314 > 250 Forecast adjusted during 2025 Sale of Russian subsidiary Transformation programme Research and development As a result: €-220 million earnings-related one-off effects 1 Ad-hoc release EBIT excluding one-off effects €448 million with EBIT ROS of 8.1% in line with forecast from March 2025 (€430 - 500 million or 7.8 - 8.6%) 5 ‌Important successes in our strategic fields of action Global expansion Automation Portfolio extension Transformation Successful integration of US acquisition Invar into Storage Solutions Group Opening of Global OEM Center in Shanghai (China) to pool central functions in Mid-Tech business Opening of Business Excellence Center in Malaysia Significant customer projects for warehouse automation won Expansion of customer base for mobile robots through new solutions Implementation of a global organisation for marketing and sales and development Market entry into Mid-Tech segment through strategic partnership with EP Equipment ("AntOn by Jungheinrich") Development of numerous innovations in High-Tech segment Launch of corporate venturing unit Uplift Ventures and successful spin-off of turnus.ai Transformation programme launched, personnel and location-based measures largely implemented Continuation of our digital transformation with the DEEP programme (Digital End-to-End Processes) CDP sustainability rating: level A achieved for the first time 6 ‌The ongoing transformation programme strengthens global competitiveness and ensures sustainable profitability Transformation programme Response to more intense global competition and increasing cost pressure to make the company fit for the future Sustainable cost savings of around €100 million annually by optimising production network and making organisation more efficient, largely effective in 2027, full effect in 2028 Around 500 of the 1,000 positions worldwide (reductions and relocations) affect Germany Implementation faster than planned: most of the negotiations that are subject to co-determination with Works Council committees are complete: Production closure in Luneburg (31/03/2027) and relocation to other Jungheinrich plants has been negotiated and is being implemented Capacity adjustment in Norderstedt implemented One-off expenses: €93 million 1 in 2025, €17 million expected for 2026 €100 million cost savings p.a. 1,000 positions reduction and relocation Optimised production network 1 Cash impact largely in 2026 7 ‌8 ‌Strategic partnership positions Jungheinrich in attractive growth segment New portfolio as entry into Mid-Tech market May 2025: Jungheinrich and EP Equipment agree on strategic partnership Pooling of both companies' strengths to increase efficiency, productivity and sustainability in global material handling Global industrial trucks market 1 ~20% ~40% ~ 2.2 million Chinese Successful launch in Europe in fourth quarter of 2025 with warehouse equipment and electric counterbalanced trucks, volume and margin targets achieved as planned Sales channels (multi-channel approach) expanded, in particular through dealers and e-commerce Expansion of portfolio and regional expansion to Asia-Pacific and Latin America already started Establishment of OEM Center in China to pool key functions for ~ 1.5 million ~10% ~30% ~60% 2019 2024 domestic market Exports by Chinese manufacturers ~40% Rest of market development and management of global portfolio in Mid-Tech market Expansion of partnership with EP Equipment planned "China Wave" - rapidly growing Mid-Tech market which is primarily served by Chinese suppliers 1 Based on WITS & Chinese export statistics, incoming orders in units 9 ‌Key figures for 2025 Heike Wulff 2 ‌Increase in incoming orders despite challenging market environment Incoming orders 5,387 5,311 +1% in € million Incoming orders 132 126 +5% in thousand units Positive development , particularly in customer services and in new business Participation in market growth of warehousing equipment Product mix contributed to growth in units 2024 2025 2024 2025 11 ‌Revenue up slightly against previous year +2% 5,392 5,502 in € million 2024 2025 Change % New business 3,148 3,214 2.1 Short-term rental and used equipment 781 775 - 0.8 Customer services 1,535 1,576 2.7 Intralogistics segment 5,464 5,566 1.9 Financial Services segment 1,417 1,473 4.0 Consolidation -1.489 -1.536 3.2 Jungheinrich Group 5,392 5,502 2.0 Revenue in € million 2024 2025 Higher revenue in new business - driven by automation projects - and in customer services Table contains rounding differences. 12 ‌Revenue benefits from positive development in USA Revenue by region 61% (61%) EMEA excluding Germany 20% (22%) Germany 7% (7%) APAC Figures for previous year shown in brackets. 12% (10%) in € million 2024 2025 Change % EMEA 4,486 4,478 - 0.2 thereof Germany 1,168 1,119 - 4.2 Americas 523 649 24.1 APAC 383 375 - 2.1 Total 5,392 5,502 2.0 Americas Top 5 revenue countries 1. 2. 3. Germany Italy France USA United Kingdom 13 ‌EBIT shaped by one-off effects of €220 million in second half of 2025 93 18 448 424 109 228 EBIT ROS 4.2% EBIT ROS 7.9% -24 EBIT ROS 8.1% EBIT 2025 Sale of Russian subsidiary 1 Contract signing July 2025, closing February 2026 Transformation programme Expenses for the transformation programme, which was approved in July 2025, involving personnel and location-based measures Research & development Loss on disposal of capitalised development expenditure for a discontinued technology EBIT 2025 Operating EBIT contribution of the Russian subsidiary excluding one-off effects 1 Operating EBIT EBIT 2025 excluding Russia business 2 1 Adjusted for earnings-related one-off effects; includes €24 million operating EBIT contribution of the Russian subsidiary. 2 Adjusted for earnings-related one-off effects as well as operating EBIT contribution of Russia business that was discontinued from 2026. 14 ‌Earnings parameters impacted by one-off effects +3% 448 2 434 1 One-off effects (220) 4.2% 228 EBIT ROS 8.1% 8.1% EBIT in € million EBT +3% 416 2 404 1 3.6% 196 EBT ROS 7.5% One-off effects (220) 7.6 % in € million 2024 2025 2024 2025 Negative effects of €220 million resulting from sale of the Russian subsidiary (€-109 million), transformation programme (€-93 million) and loss on disposal of capitalised development expenditure (€-18 million) 1 Excluding Russia business (around €135 million in revenue and €29 million in EBIT), this results in an EBIT ROS of 7.7% and an EBT ROS of 7.1%. 2 Excluding Russia business (around €150 million in revenue and €24 million in EBIT), this results in an EBIT ROS of 7.9% and an EBT ROS of 7.3%. 15 ‌Discontinuation of business activities in Russia leads to significant one-off negative effects Sale of Russian subsidiary Contract signed for the sale of Jungheinrich Lift Truck OOO to a Russian financial investor in July 2025 Sale was significantly below carrying amount: sale price is around 20% of the fair value as per Russian valuation assessment Negative one-off effects : 2025: €109 million 1 (€85 million in Q3 2025, €24 million in Q4 2025) 2026: €20 million 2 (taken into account in 2026 forecast) Approval by the Russian government commission in December 2025 subject to conditions that reduced the purchase price , completion in February 2026 In 2025, Russian subsidiary contributed approximately €150 million each to incoming orders and revenue, as well as €24 million to operating EBIT 1 Impairment losses connected to categorisation as disposal group. 2 Deconsolidation effect (Q1 2026). €129 million overall cost ~600 FTE leavings 3 February 2026 completion 3 Not part of the transformation programme. 16 ‌Dividend: payment ratio of 28% maintained Profit or loss in € million Earnings per preferred share - 64% in € Payment ratio in % Dividend per preferred share in € 289 - 64% + - 0%p 2.84 104 1.03 0.80 - 64% 28 28 0.29 1 2024 2025 2024 2025 2024 2025 2024 2025 Tax rate of 47% as a result of non-deductible losses from sale of Russian subsidiary leads to significantly lower profit or loss - even so, stable payment ratio of 28% 1 Proposal. 17 ‌Focus on capacity expansion abroad, slight reduction in Germany Group employees in FTE 1 +516 +3% -91 - 1% 20,922 21,438 13,019 12,412 8,419 8,510 +607 +5% 31/12/2024 Abroad Germany 31/12/2025 Key drivers: expansion of Business Excellence Centers (209 employees), production expansion at plant in Czechia (121 employees) and US acquisition of Invar (48 employees) 1 Full-time equivalents (FTE), including trainees and apprentices, excluding temporary workers. 18 ‌Capital expenditure at previous year's level, increase in R&D expenditure Capital expenditure 1 87 88 - 1% in € million Research and development expenditure +20% 205 in € million 1.6% Capital expenditure ratio 1.6% 171 Disposal of capitalised development expenditure Research and development 29% Capitalisation ratio 28% 187 18 2024 2025 2024 2025 Capital expenditure in reporting year includes partial amount of around €11 million for construction of Jungheinrich Experience Center Around half the increase caused by loss on disposal of capitalised development expenditure (€18 million one-off effect) for a discontinued technology 1 Property, plant and equipment and intangible assets excluding capitalised development expenditure and right-of-use assets. 19 ‌Strong free cash flow Cash flow from operating activities in € million Cash flow from investing activities in € million Free cash flow in € million 431 €-117 million €-88 million 578 490 2025 2024 €-30 million 314 -147 -177 2024 2025 2024 2025 Cash flow from operating activities reflects negative impact from working capital It was not possible to repeat the very strong reduction in receivables recorded in the previous year Cash flow from investing activities includes in particular the purchase price payment for Invar Strong free cash flow despite negative effects from operating and investing activities 20 ‌ROCE decreases, working capital ratio improves further -4% 2,517 2,414 436 EBIT in Intralogistics segment 201 17.3% ROCE 1 in % 8.3% Average capital employed in Intralogistics segment in € million Group working capital in € million 18.7% in % of revenue 18.0 % 2 961 1,009 -5% 31/12/2024 31/12/2025 31/12/2024 31/12/2025 Significantly lower EBIT in Intralogistics segment primarily due to one-off effects leads to reduction in ROCE Development of working capital reflects sale of Russian subsidiary 1 EBIT for the Intralogistics segment in % of the segment's average capital employed. 2 Adjusted for Russian subsidiary's revenue (around €150 million). 21 ‌Strong contribution of financial service business in financial year 2025 Original value of new contracts in € million Original value of contracts on hand in € million +6% 4,267 4,525 Revenue in € million Trucks in contracts on hand in thousand units +5% 1,028 1,083 +1% 1,473 1,417 +4% 220 221 2024 2025 31/12/2024 31/12/2025 2024 2025 31/12/2024 31/12/2025 Financial Services as integral and profitable part of business model - long-term service contracts ensure strong customer loyalty 22 ‌Outlook for 2026 Dr Lars Brzoska 3 ‌Outlook for 2026: focal points of strategic fields of action Global expansion Automation Portfolio extension Transformation Acceleration of regional expansion in North America and APAC Expansion of sales channels through dealers and online platforms Driving additional revenue growth > €1 billion through M&A beyond Europe as part of Strategy 2030+ Targeted market development in growth sectors : trade, logistics, production industries, food & beverages Roll-out of standardised sector solutions to increase scalability and cost efficiency Expansion of customer services business for automation solutions Market penetration with full liner portfolio: new generation of High-Tech vehicles, expanded Mid-Tech portfolio, high-voltage vehicles Continued implementation and expansion of strategic partnership with EP for products in Mid-Tech segment Systematic expansion of innovative companies and affiliates through Uplift Ventures Completion of transformation programme (most effects expected from 2027) Continuation of our digital transformation with the DEEP programme with significant roll-outs Group-wide implementation of AI , innovative solutions in short-term rental and customer services 24 ‌Heavy load meets high voltage: Jungheinrich looks to tomorrow with FalcOn Press release 25 ‌Innovations and world premieres in 2026 Maximum bandwidth: our new electric counterbalanced trucks EFG 2i EFG 3i EFG 5 FalcOn Low-lift and double-decker equipment Reach trucks High-lift mobile robot Mobile robot master control Series 1i EAC 212a EAE 212a & ETV 216i ETV 4i IF Design Awards Press releases 26 ‌We are successfully asserting ourselves in a challenging market environment Risks Opportunities GDP 1 in % 2025 2026 forecast World 3.3 3.3 USA 2.1 2.4 China 5.0 4.5 Eurozone 1.4 1.3 Germany 0.2 1.1 1 Source: International Monetary Fund, 19 January 2026. Weak European economic environment Geopolitical conflicts in particular trade tariffs, Iran war and Russia-Ukraine war Structural increase in competitive pressure Innovations and disruptive technologies Global expansion opportunities Intact drivers: electrification, automation, digitalisation and sustainability 27 ‌New segment structure improves control and transparency Separate segments as a basis for growth and profitability From financial year 2026: Intralogistics becomes ITS and AWE Own P&L and management organisation strengthen accountability and manageability Industrial Trucks & Services (ITS) Automation & Warehouse Equipment (AWE) Creating transparency about performance in the individual segments New business Short-term rental and used equipment Customer services Automated solutions Mobile robots Warehouse equipment Financial Services supporting ITS and AWE 28 ‌2026 Group forecast: growth in incoming orders and robust return expected Actual 2025 Adjusted 2025 1 2026 forecast Incoming orders in € billion 5.4 5.2 5.4 - 6.0 Revenue in € billion 5.5 1 5.4 5.2 - 5.8 EBIT in € million 228 424 380 - 450 EBIT ROS in % 4.2 7.9 7.2 - 8.0 EBT in € million 196 2 392 350 - 420 EBT ROS in % 3.6 7.3 6.7 - 7.5 ROCE in % 8.3 n/a 14 - 18 Free cash flow in € million 314 n/a > 250 Effects included 1 Incoming orders and revenue each adjusted by around €150 million contribution of the Russian subsidiary sold in February 2026 3 2 EBIT and EBT adjusted by € - 220 million one-off effects as well as operating EBIT contribution of the Russian subsidiary sold in February 2026 in the amount of €24 million 3 EBIT and EBT include € - 37 million one-off effects (€-20 million for deconsolidation of the Russian subsidiary sold in February 2026 as well as €-17 million for transformation) 1 Adjusted for contributions of the discontinued Russia business (incoming orders, revenue and operating EBIT) and also adjusted for earnings-related one-off effects (sale of Russian subsidiary, transformation programme and loss on disposal of R&D). 29 ‌2026 forecast: ITS and AWE Industrial Trucks & Services Actual 2025 Adjusted 2025 1 2026 forecast Incoming orders in € billion 4.5 4.4 4.4 - 4.8 Revenue in € billion 4.6 4.5 4.3 - 4.7 EBIT in € million 222 395 360 - 420 EBIT ROS in % 4.8 8.8 8.3 - 8.9 One-off effects in € million including operational Russia contribution - 197 +24 - 35 2026 forecast: ITS Compensation for the discontinued Russia business (contributions 2025: € ~150 million incoming orders & revenue and €24 million operating EBIT) Product innovations and Mid-Tech portfolio strengthen incoming orders EBIT & EBIT ROS negatively affected by deconsolidation effect of Russian subsidiary (€20 million) and transformation programme (€15 million) Automation & Warehouse Equipment Actual 2025 Adjusted 2025 2 2026 forecast Incoming orders in € billion 0.9 0.9 1.0 - 1.2 Revenue in € billion 0.9 0.9 0.9 - 1.1 EBIT in € million -21 2 0 - 15 EBIT ROS in % -2.3 0.2 0 - 1.5 One-off effects in € million -23 -2 2026 forecast: AWE 1 Adjusted for contributions of the discontinued Russia business (incoming orders, revenue and operating EBIT) and also adjusted for earnings-related one-off effects (sale of Russian subsidiary and transformation programme). 2 Adjusted for earnings-related one-off effects (loss on disposal R&D and transformation programme). Dynamism in incoming orders through targeted market development Accelerated internationalisation Investments in automation business Increase in margin through standardisation and further efficiency measures, with negative impact of transformation programme (€2 million) 30 ‌Key takeaways We are asserting our position in a demanding market environment with challenging conditions We have successfully started the implementation of Strategy 2030+ and are actively driving the transformation forwards We have successfully entered the Mid-Tech market and are proactively addressing the " China Wave" With innovations and world premieres, we are setting new standards in the High-Tech market and in automation We are increasing transparency and controllability through the new segment structure 31 ‌Q & A 32 ‌Additional information 4 ‌Earnings parameters in fourth quarter excluding one-off effects higher than in previous year Q4 2024 Q4 2025 Change % Incoming orders in € million 1,380 1,310 -5.1 Revenue in € million 1,469 1,494 1.7 EBIT in € million 114 68 -40.4 excluding one-off effects 125 EBIT ROS in % 7.8 4.6 - excluding one-off effects 8.4 EBT in € million 102 57 -44.1 excluding one-off effects 114 EBT ROS in % 7.0 3.8 - excluding one-off effects 7.6 Effects in Q4 2025 Incoming orders: decline in new business partly offset by increases in customer services Slight revenue growth through positive development in customer services and in financial services business Transformation programme € - 33 million Sale of Russian subsidiary € - 24 million 34 ‌2026 forecast Group Industrial Trucks & Services Automation & Warehouse Equipment Actual 2025 1,2,3 2026 forecast 6 Actual 2025 1,4 2026 forecast 7 Actual 2025 5 2026 forecast 8 Incoming orders in € billion 5.4 5.4 - 6.0 4.5 4.4 - 4.8 0.9 1.0 - 1.2 Revenue in € billion 5.5 5.2 - 5.8 4.6 4.3 - 4.7 0.9 0.9 - 1.1 EBIT in € million 228 380 - 450 222 360 - 420 -21 0 - 15 EBIT ROS in % 4.2 7.2 - 8.0 4.8 8.3 - 8.9 -2.3 0 - 1.5 EBT in € million 196 350 - 420 --- --- EBT ROS in % 3.6 6.7 - 7.5 --- --- ROCE in % 8.3 14 - 18 --- --- Free cash flow in € million 314 > 250 --- --- 1 Incoming orders and revenue each include around €150 million from the Russian subsidiary. 2 EBIT includes €220 million in negative one-off effects (including operating EBIT of the Russian subsidiary of €24 million) 3 Group figures include Financial Services and consolidation in addition to ITS and AWE. 4 EBIT includes €197 million in negative one-off effects (including operating EBIT of the Russian subsidiary of €24 million), therein €6 million holding company. 5 EBIT includes €23 million in negative one-off effects. 6 EBIT includes €37 million in negative one-off effects. 7 EBIT includes €35 million in negative one-off effects, therein €1 million holding company. 8 EBIT includes €2 million in negative one-off effects. 35 ‌One-off effects & acquisition effects -development by quarter in 2025 & 2026e in € million Q1 2025 Q2 2025 Q3 2025 Q4 2025 Totals 2025 2026e One-off effects Total one-off effects -163 -57 -220 -37 ITS -141 -56 -197 -35 therein holding company -6 -6 -1 AWE -22 -1 -23 -2 Sale of Russian subsidiary -85 -24 -109 -20 ITS - 85 - 24 - 109 - 20 therein holding company AWE Transformation programme -60 -33 -93 -17 ITS - 56 - 32 - 88 - 15 therein holding company - 6 - 6 - 1 AWE - 4 - 1 - 5 - 2 Research & development -18 -18 ITS therein holding company AWE - 18 - 18 A cquisition effects -4 -3 -3 -4 -14 -12 Purchase price allocation -3 -2 -2 -3 -10 11 Variable management remuneration -1 -1 -1 -1 -4 1 36 ‌Disclaimer The explanations in this presentation are partially forward-looking statements that are based on the company management's current expectations, assumptions and assessments for future developments. Such statements are subject to risks and uncertainty that are largely beyond the company's control. This includes changes in the overall economic situation - such as impacts from geopolitical conflicts, natural catastrophes, pandemics and similar force majeure events -, supply of raw and auxiliary materials, the availability and price development of energy and raw and auxiliary materials, demand in important markets, competition and regulatory frameworks and regulations, exchange and interest rates and the outcome of pending or future legal proceedings. Should these or other uncertainties or unknown factors apply or the assumptions on which these statements are based prove false, actual results may deviate significantly from the results stated or implied. No responsibility is therefore taken for forward-looking statements. Without prejudice to existing capital market obligations, there is no intention to accept any obligation to update forward-looking statements. 37 ‌2026 financial calendar and IR contact Financial calendar Andrea Bleesen Head of Corporate Investor Relations Jungheinrich Aktiengesellschaft Friedrich-Ebert-Damm 129 22047 Hamburg, Germany Tel +49 40 6948 3407 [email protected] https://www.jungheinrich.com IR contact Date Event 27/03/2026 Balance sheet press conference (virtual) 27/03/2026 Analyst conference (virtual) 07/05/2026 Interim statement as of 31/03/2026 19/05/2026 Annual General Meeting 22/05/2026 Dividend payment 11/08/2026 Interim report as of 30/06/2026 10/11/2026 Interim statement as of 30/09/2026 Subscribed capital: €102 million divided into 54,000,000 no-par-value ordinary shares 48,000,000 no-par-value preferred shares (listed) Securities identification numbers (preferred shares): ISIN: DE0006219934 WKN: 621 993 General information Stock exchanges: Frankfurt, Hamburg and all other German stock exchanges Segment: Prime Standard Branch: Industry Stock index: MDAX Tickers: Reuters JUNG_p.de Bloomberg JUN3 GR 38

View stock analysis, news, and events for Jungheinrich Ag Pref