Presentation virtual analyst conference FY 2025

‌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

1. ‌2025 Highlights

2. Key figures for 2025

3. Outlook for 2026

   Dr Lars Brzoska

   Heike Wulff

   Dr Lars Brzoska

4. 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

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

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‌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 million1 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 market1

    ~20%

~ 2.2 million

Chinese

~60%

2019

2024

domestic market

Exports by Chinese manufacturers

~40%

Rest of market

development and management of global portfolio in Mid-Tech market

"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

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‌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

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‌Revenue up slightly against previous year

+2%

5,392

5,502

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%)

Americas

Top 5 revenue countries

1.

2.

3.

Germany

Italy France

1. USA

2. 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 subsidiary1

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 effects1

Operating EBIT

EBIT 2025

excluding Russia business2

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.

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‌Earnings parameters impacted by one-off effects

+3%

4482

4341

One-off effects (220)

4.2%

228

EBIT ROS

8.1%

8.1%

EBIT

in € million

EBT

+3%

4162

4041

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 million1 (€85 million in Q3 2025, €24 million in Q4 2025)

  • 2026: €20 million2 (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

leavings3

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

0.291

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 FTE1

+516

+3%

-91

-1%

20,922 21,438

+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 expenditure1

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

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

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

17.3% ROCE1 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

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‌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

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‌Heavy load meets high voltage: Jungheinrich looks to tomorrow with FalcOn

Press release

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‌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

IF Design Awards

Press releases

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‌We are successfully asserting ourselves in a challenging market environment

Risks Opportunities

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

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‌2026 Group forecast: growth in incoming orders and robust return expected

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

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)

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

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‌Q & A

32

‌Additional information

4

‌Earnings parameters in fourth quarter excluding one-off effects higher than in previous year

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

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

Purchase price allocation -3 -2 -2 -3 -10 11

Variable management remuneration

-1 -1 -1 -1 -4 1

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‌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.

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‌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

andrea.bleesen@jungheinrich.de

https://www.jungheinrich.com

IR contact

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

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