#1Investor presentation, April 2021 Becoming the leader in intelligent cargo handling CARGOTEC Investor presentation April 2021 1#2Disclaimer Although forward-looking statements contained in this presentation are based upon what management of the company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. These statements are not guarantees of future performance and undue reliance should not be placed on them. The company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. All the discussion topics presented during the session and in the attached material are still in the planning phase. The final impact on the personnel, for example on the duties of the existing employees, will be specified only after the legal requirements of each affected function/ country have been fulfilled in full, including possible informing and/or negotiation obligations in each function / country. Securities laws in the United States and in other jurisdictions restrict Cargotec from discussing or disclosing information with respect to the contemplated merger with Konecranes Plc that furthermore and in all circumstances is subject to approvals of competition authorities. Information regarding the contemplated merger can be found at www.sustainablematerialflow.com. Until the completion of the merger Cargotec and Konecranes will carry out their respective businesses as separate and independent companies. The information contained in this presentation concerns only Cargotec. The merger and the merger consideration securities have not been and will not be registered under the U.S. Securities Act, and may not be offered, sold or delivered within or into the United States, except pursuant to an applicable exemption of, or in a transaction not subject to, the U.S. Securities Act. CARGOTEC Investor presentation April 2021 2#3Merger with Konecranes On 1 October 2020, Cargotec and Konecranes announced that their respective Boards of Directors have signed a combination agreement and a merger plan to combine the two companies through a merger. Read more on the merger website www.sustainablematerialflow.com CARGOTEC#4Why invest in Cargotec? Our target: To become the leader in Every 4th container in the WORLD is moved by Kalmar solution intelligent cargo handling Several favorable megatrends support our growth prospects ⚫DIGITALISATION ' GLOBALISATION TRADE GROWTH URBANISATION GROWING MIDDLE CLASS. Kalmar CONTAINER TRAFFIC. . PORT AUTOMATION. MARKET IN POSITION *1,*2 MAJOR SEGMENTS Transformation from equipment provider into a leader in intelligent cargo handling Every other ship in the WORLD has MacGregor equipment on board Hiab ·CONSTRUCTION ACTIVITY MARKET IN POSITION *1,*2 MAJOR SEGMENTS MacGregor SHIP BUILDING MARKET IN POSITION #1,*2 MAJOR SEGMENTS CARGOTEC We have strong brands and a loyal global customer base MacGregor High Kalmar MacGregor Kalmar ASARI Hiab Unique position to benefit from the growth prospects in port automation and software Growing services and software business increase stability of our business Contact details: [email protected] | Hanna-Maria Heikkinen, Vice President, investor relations Currently, only 40 of the world's 1200 terminals are automated or semi-automated. Port automation increases energy and cost efficiency as well as employee safety. I € Financial targets • Grow faster than the market • Increase service and software sales to 40% of net sales, min. EUR 1.5 billion in 3-5 years • Target 10% operating profit and 15% ROCE in 3-5 years • Target gearing <50% and increasing dividend in the range of 30-50% of EPS, to be paid twice a year 4 Targets announced in September 2017#5Content 1. Cargotec in brief 2. Investment highlights 3. Kalmar 4. Hiab 5. MacGregor 6. Recent progress 7. Appendix CARGOTEC#6Cargotec in brief CARGOTEC S.W.L.10 6 S.W.L. 10th#7EMEA 49% Strong global player with well-balanced business Sales: EUR 3,263 million EBIT: 6.2% Kalmar Sales: EUR 1,529 million EBIT: 7.6% (EUR 116 million) Hiab Sales: EUR 1,094 million EBIT: 11.6% (EUR 126 million) MacGregor Sales: EUR 642 million EBIT: -0.7% (EUR-4 million) Sales split: new equipment vs service and software Service and software 36% Strengths we are building upon Leading market positions in all segments Sales by business areas MacGregor 20% Sales by geographical area Kalmar 47% AMER 29% O O O New equipment 64% Hiab 33% Strong brands Loyal customers APAC 22% Leading in technology CARGOTEC Figures: 2020 = Investor presentation EBIT Comparable operating profit April 2021 7#8Key competitors Cargotec is a leading player in all of its business areas Global main competitors ZPMC KALMAR KONEGRANES® Lifting Businesses HIAB PALFINGER MACGREGOR NOV HYSTER-YALE LIEBHERR SANY Other ABB TERBERG BENSCHOP competitors CARGOTEC kühz M MITSUI E&S FASSI HYVA HMF N TERBERG KINGLIFTER Manufacturer of truck mounted forklifts CAPACITY REV GROUP RAME SPREADERS KONGSBERG NAVALIMPIANTI GROU MITSUBISHI HEAVY INDUSTRIES, LTD. Huisman SEC SHIP'S EQUIPMENT CENTRE GRONINGEN B.V. PALFINGER GERMAN LASHING BOBET SOCK SMS KOREA LIEBHERR IHI Investor presentation April 2021 8#9Currently two businesses performing well Net sales Q4/2020, LTM* EUR million ** ~400 ~600 3,263 ~1,100 ~1,100 Kalmar software (Navis) and Automation and Projects division MacGregor Hiab Kalmar equipment & service Hiab Kalmar APD and software ■MacGregor CARGOTEC Kalmar equipment and service (excluding Automation and Projects Division & Navis) Trend in orders, LTM لا -19% -8% لا Profitability: comparable EBIT margin, LTM Low profitability -0.7% 11.6% Low double digit Investor presentation * LTM = Last 12 months Figures rounded to closest 100 million April 2021 9#10Investment highlights CARGOTEC M 10#11Investment highlights: Why invest in Cargotec? 1. Technology leader and strong market positions, leading brands in markets with long term growth potential 2. Our vision is to become the global leader in intelligent cargo handling 3. Growing service & software business and asset-light business model are increasing stability 4. Capitalising global opportunities for future automation and software growth 5. On track for profitability improvement and to reach financial targets CARGOTEC SKREMAR 11#121. Technology leader and strong market positions, leading brands in markets with long term growth potential Global megatrends Globalisation and trade growth ■ Urbanisation ◉ Growing middle class Growth drivers ■ Container throughput growth ■ Construction ☐ activity Automation Digitalisation Competitive advantages Strong brands ■ Full ◉ automation offering Technology leadership Market position ☐ ■ #1 or #2 in all major segments CARGOTEC Investor presentation April 2021 12#132. Our vision is to become the global leader in intelligent cargo handling VISION MUST-WIN BATTLES CARGOTEC GLOBAL LEADER IN INTELLIGENT CARGO HANDLING WIN THROUGH CUSTOMER CENTRICITY We help our customers achieve their goals by aligning our offering and way of working to serve them better. ACCELERATE DIGITALISATION We build and expand our digital solutions to offer a great customer experience and more efficient business processes. ADVANCE IN SERVICES We extend our offering towards intelligent solutions that enable us to serve our customers wide across their lifecycle. PRODUCTIVITY FOR GROWTH We focus on activities that add value and benefit our customers and us by developing our business operations and common platforms. Investor presentation April 2021 13#143. Growing service & software business and asset-light business model are increasing stability Service and software* sales MEUR 1,300 1,230 -5% +8% 1,171 1,200 1,126 1,090 168 1,100 1,052 1,053 +3% +10% +4% 166 +0% 147 1,000 955 152 121 149 +9% 873 900 108 800 107 700 600 1,062 500 980 1,005 931 905 938 847 400 766 300 200 100 0 2013 2014 2015 2016 2017 2018 2019 2020 Asset-light business model with a flexible cost structure ☐ Kalmar and Hiab: efficient assembly operation MacGregor: efficient project management and engineering office: >90% of manufacturing and 30% of design and engineering capacity outsourced No in-house component manufacturing Next steps to increase service and software sales: Improve service offering through digital solutions ☐ Increase spare parts capture rates Boost service contract attachment rates ■Services Software Total CARGOTEC *) Software sales defined as Navis business unit and automation software Investor presentation April 2021 14#154. Capitalising global opportunities for future automation and software growth Industry trends support growth in port automation: ☐ Only 40 terminals (out of 1,200 terminals) are automated or semi- automated currently globally Ships are becoming bigger and the peak loads have become an issue Increasing focus on safety Customers require decreasing energy usage and zero emission ports Optimum efficiency, space utilization and reduction of costs are increasingly important Shortage and cost of trained and skilled labour pushes terminals to automation CARGOTEC Significant possibility in port software: Container value chain is very inefficient: total value of waste and inefficiency estimated at ~EUR 17bn Over 50% of port software market is in-house, in long term internal solutions not competitive Customers consider their automation decisions carefully ■ Shipping line consolidation ◉ Utilisation rates of the existing equipment base ■ Container throughput volumes Efficiency of the automation solutions. Automation creates significant cost savings* 60% less labour costs Labour costs Total costs Profit increase 24% less costs 125% -945 * Change when manual terminal converted into an automated operation Investor presentation April 2021 15#165. Clear plan for profitability improvement and to reach financial targets Growth Target to grow faster than market ☐ Megatrends and strong market position supporting organic growth M&A potential Service and software Targeting service and software sales 40% of net sales, minimum EUR 1.5 billion in 3-5 years* Balance sheet and dividend Target gearing < 50% and increasing dividend in the range of 30-50% of EPS, dividend paid twice a year Profitability Target 10% operating profit and 15% ROCE in 3-5 years* Higher service and software sales key driver for profitability improvement Cost savings actions: 2020 EUR 30 million (indirect purchasing and new Business Services operations) Product re-design and improved project management Sales and comparable operating profit development 4,500 400 6.2% 7.2% 7.1% 8.0% 6.2% 4,000 4.4% 3,729 7.3% 3,683 350 3,514 3,500 3,358 3,250 3,304 3,263 300 3,000 250 259 264 2,500 250 242 231 200 2,000 204 150 1,500 149 100 1,000 500 50 0 0 2014 2015 2016 2017 2018 2019 2020 Net sales Comparable operating profit Comparable operating profit margin CARGOTEC Investor presentation *Target announced in September 2017 April 2021 16#17Kalmar CARGOTEC 0808 WD 04#18Kalmar is in unique position to benefit from the growth prospects in port automation and software Kalmar offers cargo handling equipment and automated terminal solutions, software and services used in ports, terminals, distribution centres and various industries. Development of historical financials MEUR 200 Number of personnel 5,526 Service and software sales (% of sales) KALMAR 60% 150 7.8% 8.0% 8.3% 8.9% 9.4% 7.6% 100 Sales MEUR 1,529 4.1% 3.8% 50 64 57 130 135 133 144 162 116 0 Geographical sales split 2013 2014 2015 2016 2017 2018 2019 2020 Comparable EBIT Comparable EBIT-% 29% 34% 11% ■ Service Software Equipment CARGOTEC 1,529 2,000 47% 1,430 1,550 1,487 1,663 1,482 1,764 1,500 1,401 1,529 1,776 1,723 1,919 1,618 1,555 1,598 1,721 1,700 1,012 1,049 877 900 1,000 799 805 786 842 500 0 2013 2014 2015 2016 2017 Sales Orders received 2018 Order book 2019 2020 *2020 figures Investor presentation April 2021 18 19% ■ EMEA APAC Americas#19Container throughput to be impacted by COVID-19 situation but forecasted to recover TEU million 1,000 Growth from 2013 to 2024 52% CAGR 3.9% 974 935 897 854 +4.2% 140 +4.3% 135 801 784 784 800 748 -2.1% 123 +5.0% 129 702 +2.1% 675 685 116 +5.2% 116 111 +8.9% 239 642 +6.5% 109 231 600 +5.1% 98 +1.5% 101 +2.6% 101 223 213 96 202 207 199 195 182 185 182 173 400 517 544 569 595 444 467 477 473 200 373 395 401 416 0 2013 2014 2015 2016 2017 CARGOTEC 2018 APAC EMEA AMER 2019 2020 2021 2022 2024 2019-2024: Drewry: Container forecaster Q4 2020 2018: Drewry: Container forecaster Q4 2019 2016-2017: Drewry: Container forecaster Q2 2019 2015 Drewry: Container forecaster Q2 2018 2013-2014 Drewry Global Container Terminal Operators Annual Report 2013 2023 Investor presentation April 2021 19#20Kalmar provides integrated port automation solutions also after divestment of Navis Terminal Operating System (TOS) coordinates and optimizes the planning and management of container and equipment moves Kalmar provides integrated port automation solutions including software, services and a wide range of cargo handling equipment KALMAR navis Terminal Logistic System (TLS) Automated Horizontal Transportation Quay crane area Truck/Transfer area Automatic stacking crane (ASC) area CARGOTEC ASC stack area Equipment Equipment Kamar Investor presentation April 2021 20 20#21CARGOTEC KALMAR TREIB Robotics as an opportunity AUTOMATED SOLUTION ROBOTICS FUNCTIONALITY Digitalisation Autonomous Electrification KALMAR EQUIPMENT DB SENKER Investor presentation April 2021 21#22Towards new business models SITEBOX CONSFASE Virtual capability Validated output 04-LEREXA High-speed commission * Connected services De/Re commission Simultaneous engineering Optimised solution Faster return on capital Increased uptime Replacement upgrade CARGOTEC VARU A digital life of the customer Investor presentation April 2021 22 22#23Services provide our biggest medium-term growth opportunity Hapag-Lloyd Market share Equipment & Projects 20-30% Software Services 20-30% 3-5% Market size 6B€ CARGOTEC 0.5-1B€ 8B€ Investor presentation April 2021 23#24Automation deals highlight our successful investments in automation Kalmar and Navis to deliver world-first intermodal automation solution to Sydney, Australia Greenfield intermodal terminal, Qube's Moorebank Logistics Park First fully automated intermodal terminal in the world Kalmar One Terminal contract, including Navis N4 TOS All equipment can be operated electrically on local solar power Order value EUR 80 million, booked in Q2 2018 Fully digitalised and autonomous container handling solution with software and services to Yara Solution enables autonomous, cost efficient and emission-free operations of the Yara Birkeland container ship in Norway Investor presentation pril 2021 24#25Hiab CARGOTEC 23 800 CLX CHIAB#26Hiab is a global market leader in on-road load handling solutions Hiab's class-leading load handling offering includes loader cranes, forestry and recycling cranes, truck mounted forklifts, skiploaders and hooklifts, and tail lifts as well as intelligent services and smart and connected solutions. Hiab's customers come from a broad range of industries and segments. Number of personnel 3,390 Service sales (% of sales) Development of historical financials MEUR 200 150 13.5% 14.5% 12.6% 11.7% 11.6 % 10.8% 7.3% 100 2.9% 50 24 61 101 140 157 135 170 126 0 Geographical sales split 2013 2014 2015 2016 2017 2018 2019 2020 Comparable EBIT-% Sales MEUR 1,094 Comparable EBIT 71% HIAB 29% 37% ■ Service ■ Equipment CARGOTEC 2,000 54% 1,500 1,094 1,000 841 869 1,210 1,094 1,310 1,350 1,259 1,149 1,116 1,084 1,016 1,036 453 503 406 500 203 264 305 286 300 9% ■ EMEA APAC Americas 0 2013 2014 2015 2016 2017 2018 2019 2020 Sales Orders received *2020 figures Investor presentation Order book April 2021 26#27Construction output driving growth opportunity EMEA construction output y/y change (%) AMER construction output y/y change (%) 10.0% 125 10.0% 8.0% 120 8.0% 6.0% 115 6.0% 4.0% 110 4.0% 2.0% 105 2.0% 125 120 115 110 105 0.0% 100 0.0% 100 -2.0% -4.0% -6.0% -8.0% -10.0% 2889 995 -2.0% 90 -4.0% 85 -6.0% 80 -8.0% 75 -10.0% 28 89 995 90 85 80 75 2010 2012 2014 2016 2018 2020 2022 2024 2010 2012 Index O-Change % 2014 2016 2018 2020 Index --Change % 2022 2024 Oxford Economics: Industry output forecast 12/2020 CARGOTEC Investor presentation April 2021 27#28Strong global market position and customers across diverse industries MARKET SIZE* (EUR billion) KEY SEGMENTS HIAB GLOBAL POSITION & TREND LOADER CRANES ~1.5 Construction #2 ¬ and Logistics TAIL LIFTS ~0.9 Retail Industry and Logistics #2 لا Waste and DEMOUNTABLES ~0.6 Recycling, Defense #1 R TRUCK MOUNTED FORK LIFTS ~0.3 Construction #1 - and Logistics FORESTRY & RECYCLING CRANES ~0.3 Timber, Pulp, Paper & Recycling #2 CARGOTEC *) Cargotec estimate Industry segment indicative sales mix 2018 Most important segments Construction and Building Material Delivery Logistic Waste & Recycling Timber, Paper & Pulp Defense Logistic Road & Rail Other Investor presentation April 2021 28#29Attractive megatrends and growth drivers MEGA TRENDS MARKET GROWTH KEY ■ ◉ ■ SEGMENTS PRODUCT OFFERING SERVICE SOLUTIONS CARGOTEC 02 BY Z 2b HE Urbanisation and Consumption growth driving needs for efficiency Digitalisation and Connectivity enabling new business solutions ■ North America and main European markets continue to grow Developing markets strong load handling equipment penetration potential Construction, Waste & Recycling, Logistics and Governmental business segments show continued growth projection New applications market and segment growth potential Developing for increasing demand in Electrification and Automation Growing demand for comprehensive life-cycle service offerings and tailored business solutions Investor presentation April 2021 29 29#30Hiab's key growth drivers XR16S Cranes Gain market share in big loader cranes and crane core markets Tail lifts Enter fast growing emerging markets and standardise and globalise business model Truck-mounted forklifts Accelerate penetration in North America and Europe Services Increase spare parts capture rates driven by connectivity and e-commerce CARGOTEC Investor presentation April 2021 30 30#31MacGregor RACAL DECCA CARGOTEC 31#32MacGregor is a world-leading provider of intelligent maritime cargo and load handling solutions MacGregor offers engineering and lifetime service solutions for merchant cargo and passenger vessels; the offshore oil and gas and renewable energy sectors; fishing, research and marine-resource vessels; naval operations and logistics vessels, and ports and terminals. Number of personnel 1,987 Service sales (% of sales) Development of historical financials MEUR 100 5.2% 7.9% 50 2.6% 2.3% 1.9% -0.3% -4.6% -0.7% 0 63 54 Sales 30 11 18 -2 MEUR 642 -50 -28 -100 Geographical sales split 2013 2014 2015 2016 Comparable EBIT 2017 2018 2019 2020 Comparable EBIT-% 61% MACGREGOR 39% 43% 11% 642 2,000 46% 1,500 1,131 980 883 1,000 598 633 481 530 480 500 0 2013 2014 2015 Sales 2016 2017 Orders received 2018 2019 Order book 2020 Investor presentation April 2021 32 ■ Service ■ Equipment ■ EMEA APAC Americas CARGOTEC *2019 figures#33We are an active leader in all maritime segments -2/3 of sales ~1/3 of sales Merchant Cargo Flow MARKET POSITION ☐ #1 Container cargo Bulk cargo General cargo Marine People Flow Ferry Cruise Superyachts ☐ Liquid cargo RoRo cargo Lifecycle Services CARGOTEC WALLENIUS WILHELMSEN Naval Logistics and Operations #1 ☐ #1-2 Naval & Military Supplies Logistics Naval & Military Operations Support Ship-to-ship transfer Offshore Energy #1 ☐ Oil & Gas Renewables Marine Resources & Structures #1-2 Research Fishery Aquaculture Mining Picture: Equinor Investor presentation April 2021 33#34200 400 Avg. 96-19 600 2017 1800- 1600 1400 1200 1000 800 Historical avg Merchant Ships and Offshore contracting - short-term challenges Long term contracting 2017 - 2026 Merchant ships > 2000 gt excl ofs and misc No of ships 2000 Forecast Long term contracting 2017 - 2026 Mobile offshore units No of ships 450 Forecast 2018 2019 2020 2021 2024 2025 2026 0 50 Avg. 09-19 100 150 2017 200 250 L 300 350 L 400 Historical avg Merchant ships contracting expected to improve in line with accelerated fleet renewal driven by shipping decarbonisation. CARGOTEC Source: Clarkson Research, September 2020 Offshore wind drives ordering of dedicated offshore wind vessels, and also a wider range of other mobile offshore units. Investor presentation 2018 April 2021 34#35MacGregor's asset-light business model gives flexibility Sales & marketing Design & engineering Manufacturing Installation MacGregor MacGregor MacGregor MacGregor Outsourced Outsourced Outsourced CARGOTEC Cost-efficient scaling 90% of manufacturing outsourced 30% of design and engineering capacity outsourced Lifecycle support MacGregor Investor presentation April 2021 35 35#36Planned MacGregor cost savings Potential cost savings from restructuring and the TTS integration EUR 20 million achieved in 2020 EUR 13 million in 2021 EUR 5 million in 2022-2024 TTS integration cost synergy components Roles/Positions Facilities Supply chain CARGOTEC Investor presentation April 2021 36#37Recent progress CARGOTEC 0:19/236 37 37#38Highlights of 2020 - We secured our profitability in exceptional year Orders received decreased by 16% 8.0% Hiab and Kalmar's mobile equipment recovered towards the end of the year 7.3% 7.1% 7.2% 6.2% • Postponements in larger orders Sales decreased by 11% Driven by decline in Hiab and Kalmar's mobile equipment 250 259 264 • Service sales resilient 242 204 Share of eco-efficiency sales increased to 24% Comparable operating profit Kalmar -45 MEUR decreased by 23% • Hiab -44 MEUR • MacGregor +24 MEUR 2016 2017 2018 2019 2020 Comparable EBIT margin % ■ Comparable EBIT R&D investments increased to MEUR 105 CARGOTEC Investor presentation April 2021 38#39Kalmar's equipment running hours in Europe above pre-covid level Kalmar Mobile Solutions: +2% +0% 0% -3% Change in amount of total running hours of the connected fleet. 25-31 January -12% compared to Jan & Feb 2020 average. Hiab: Activity index of connected loader cranes. 24-30 January average compared to previous 6 months average CARGOTEC -32%) -3% +7% Investor presentation April 2021 39 39#40Market environment Number of containers handled back on growth track Q4 container throughput +2.9% FY 2021 estimate +8.9% Construction activity is expected to increase in 2021 +7.6% in Europe +7.8% in the US Challenging market situation continues for MacGregor Merchant and Offshore oil & gas vessel orders clearly below historical average 2021 Merchant vessel contracting estimate is 8953 Offshore wind estimated to grow Global container throughput¹ - Key driver for Kalmar 801 2019 - -2.1% Construction output² – Key driver for Hiab United States -6.0% 678 637 2019 - 2020 Europe Long term contracting – Key driver for MacGregor Merchant ships3 1,752 Historical average5 784 2020 -8.6% 747 682 2019 2020 Offshore mobile units4 427 851 -42% 661 0 0 2019 2020 Historical average6 85 60 +22% 2019 1) MTEU, Source: Drewry 2) CARGOTEC 3) 4) EUR billion, Source: Oxford Economics > 2,000 dwt/gt (excl. ofs & misc), Source: Clarkson Research Source: Clarkson Research Indicative 1996-2019 average 6) Indicative 2009-2019 average Investor presentation 20 Aptil 2021 40#41Strong orders received in Hiab's and in Kalmar's smaller equipment in Q4 MEUR -16% 991 1,022 962 -48% 963 3,714 165 872 858 184 (y/y) 100 630 3,121 193 781 116 740 156 511 341 151 637 139 357 417 340 322 +30% 1,310 307 120 (y/y) 1,210 296 274 223 516 450 417 396 446 334 293 328 0% 445 1,776 1,401 (y/y) Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 ■MacGregor Hiab Kalmar Q4/20 2019 2020 CARGOTEC Investor presentation April 2021 41#42Order book grew from the third quarter Order book MEUR Order book by reporting segment, 31 Dec 2020 2,089 26% 1,938 1,822 1,824 1,751 633 591 565 480 532 406 396 373 503 386 46% O 1,049 952 885 834 842 28% Kalmar Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 ■MacGregor Hiab Kalmar CARGOTEC Hiab Investor presentation MacGregor April 2021 42#43Recovery continued in sales and comparable operating profit - Q4 the strongest quarter in 2020 Sales MEUR Comparable operating profit MEUR 100 1,015 74 80 64 176 858 873 57 756 777 60 153 168 43 40 368 163 158 40 302 295 243 254 20 471 404 350 364 411 0 -20 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 MacGregor Hiab Kalmar CARGOTEC Q4/19 Q1/20 Q2/20 Q3/20 Cargotec total EBIT* ● Kalmar ● MacGregor *) Including Corporate admin and support Q4/20 Hiab Investor presentation April 2021 43#44Service and software business resilient Service and software* sales MEUR 331 1,230 300 306 1,171 282 282 46 168 40 44 166 43 38 Q4/2020 service sales -8% Kalmar -4% Hiab -5% • MacGregor -18% Software sales -5% in Q4/2020 Service and software 35% of 285 1,062 260 262 1,005 total sales 239 244 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Software ■ Service *Software sales defined as strategic business unit Navis and automation software CARGOTEC 2019 2020 Investor presentation April 2021 44#45Business areas Cargotec's financial statements review 2020 CARGOTEC BAO KAWAR#46Kalmar Q4 - Good progress in Mobile Equipment Strong orders in Mobile Equipment offset by decline in Automation & Projects Sales decreased by 13% Increase in Automation & Projects Decrease in Mobile Equipment Service and software resilient Comparable operating profit decreased • Negative sales mix Lower sales On 3 Dec, BoD decided to initiate the sales process of Navis MEUR Q4/20 Q4/19 Change Orders received 445 446 0% Order book Sales 842 1,049 -20% 411 471 -13% Comparable operating profit JAL ON 28 44 -36% LOGISTIC www.salsor Com Comparable operating profit margin 6.9% 9.4% -250bps CARGOTEC#47Hiab Q4 - All time high in orders received Orders received and order book surged MEUR Q4/20 Q4/19 Change Orders received 417 322 30% Order book 503 406 24% Sales decreased by 20% Service sales -5% Comparable operating profit decreased due to lower sales Comparable operating profit margin remained stable • Cost savings Price increases Sales 295 368 -20% MOFFET MOFFETT www.hiab.com Comparable TRUCK MG operating profit 41 52 -21% Cargotec Engineering Ireland Ltd Ardee Road Dundalk IRELAND Emission free Silent operation Reduced cost of ownership Comparable operating profit margin 13.9% 14.1% -20bps SMOFFETT CONNECT NX Series CARGOTEC MOFFETT SCANIA#48- MacGregor Q4 – Navigating the difficult market situation Orders received decreased in Merchant, Offshore and Services Sales decreased by 5% Service sales -18% Comparable operating profit above break-even Productivity improvements and TTS synergies • Increased gross margins Productivity improvements ongoing • 20 MEUR of cost savings achieved in 2020 2021 target increased to 13 MEUR CARGOTEC MEUR Q4/20 Q4/19 Change Orders received 100 193 -48% Order book 480 633 -24% Sales 168 176 -5% Comparable operating 3 -13 124% profit Comparable operating profit margin 1.8% -7.1% 890bps#49Key figures - Relative profitability at the comparison period's level in Q4 Q4/20 Q4/19 Change 2020 2019 Change Orders received, MEUR 963 962 0% 3,121 3,714 -16% Order book, MEUR 1,824 2,089 -13% 1,824 2,089 -13% Sales, MEUR 873 1,015 -14% 3,263 3,683 -11% Comparable operating profit, MEUR 64 74 -14% 204 264 -23% Comparable operating profit, % 7.3% 7.3% Obps 6.2% 7.2% -100bps Items affecting comparability, MEUR -47 -56 17% -133 -84 -58% Operating profit, MEUR 18 18 -2% 70 180 -61% Operating profit, % 2.0% 1.8% 20bps 2.2% 4.9% -270bps Net income, MEUR 7 0 >100% 8 89 -91% Earnings per share, EUR 0.10 -0.00 >100% 0.13 1.39 -91% Earnings per share, EUR* ROCE, %** 0.63 0.51 21% 1.39 2.19 -36% 2.8% 7.3% -450bps 2.8% 7.3% -450bps CARGOTEC *) Excluding items affecting comparability and adjusted with related tax effect **) ROCE (return on capital employed), last 12 months Investor presentation April 2021 49#50Strong cash flow supported by net working capital reduction Cash flow from operations before financing items and taxes MEUR 86 81 41 31 208 23 4 74 196 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 CARGOTEC Investor presentation April 2021 50#51Strong financial position and liquidity Net debt & gearing MEUR Total liquidity, 31 December 2020 1,000 935 150 66% 64% 57% 54% 50% 52% 52% 750 44% 300 41% 39% 177 175 500 188 180 669 677 174 586 618 508 250 485 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Gearing-% excluding IFRS16 Gearing-% IFRS16 Lease liability* Net debt *Cargotec adopted the IFRS 16 standard on 1 Jan 2019. CARGOTEC 0 Commercial paper programme Committed, long-term credit facilities Cash and cash equivalents Investor presentation April 2021 51 51#52Balanced debt portfolio Loan structure, 31 December 2020 0% Repayment schedule of interest-bearing liabilities MEUR 380 36% 197 158 157 136 115 48 64% O Bilateral bank loans Bonds and Schuldschein loans Commercial papers and bank overdrafts CARGOTEC 2021 2022 2023 2024 2025 2026 Later Investor presentation April 2021 52 52#53Outlook for 2021 Cargotec estimates 2021 comparable operating profit to improve compared to 2020 (EUR 227 million*) *Cargotec changed the definition of the alternative performance measure comparable operating profit starting from 1 January 2021 to align it with the definition used in the merger prospectus. In addition to the items significantly affecting comparability, the restated comparable operating profit will also exclude the impacts of the purchase price allocation, which amounted to EUR 23 million in 2020. Comparison figure has been calculated based on the new definition. Restatement for 2020 figures will be published before Q1/21 result announcement. CARGOTEC Investor presentation April 2021#54Service sales growth on track towards our targets Service sales: MacGregor Kalmar MEUR, % Hiab EUR 1,005 million Service orders received 422 30% Service orders received 31% of total sales Service sales 437 29% Service sales MEUR, % 332 27% 318 29% MEUR, % Service orders received 233 46% Service sales 250 39% 1,200 1,000 800 5% 11% 600 32% 39% Maintenance 400 47% 200 Spare parts 0 CARGOTEC 6% 10% 44% 14% KALMAR HIAB 6% 1%2% 8% 45% 27% MACGREGOR ■Spare parts Maintenance ■Fleet management ■Upgrade projects 25% ■Spare parts Maintenance Installations Accessories ■Used equipment ■ Spare parts Maintenance ■Running supply ■ Projects Cargo Boost RoRo conversions 56% Investor presentation April 2021 Figures: 2020 54#55Dividend of 1.08 EUR in 2020 Maximum of EUR 70 million profit distribution agreed in the merger plan Cargotec's Board of Director's proposes to the AGM to be held on 23 March 2021: ☐ Dividend of 1.08 per class B share ■ Record date 25 March 2021 2.50 Payment date 1 April 2021 Calculated from EPS excl. items affecting comparability, maximum payout ratio for 2020 is 78% 2.00 66% 1.50 50% 49% 51% 36% 1.00 0.50 1.110.55 2.210.80 1.950.95 2.051.05 1.661.10 0.00 2014 2015 2016 EPS (reported) Dividend 2017* --Payout ratio 2018 CARGOTEC 86% 1.391.20 2019 >100% 0.131.08 2020 * 2017 EPS figure has been restated according to IFRS 15 Investor presentation April 2021#56Appendix 1. Largest shareholders and financials 2. Sustainability 3. Kalmar 4. Hiab 5. MacGregor CARGOTEC 56 914#57Largest shareholders 31 March 2021 % of shares % of votes % of shares 14.1 % 1. Wipunen varainhallinta Oy 14.1 23.7 2. Mariatorp Oy 12.3 22.9 3. Pivosto Oy 10.7 22.2 12.3 % 4. KONE Foundation 3.0 5.5 5. Ilmarinen Mutual Pension Insurance Company 2.3 1.0 6. The State Pension Fund 1.2 0.5 7. Elo Mutual Pension Insurance Company 1.2 0.5 59.9% 10.7 % 8. Varma Mutual Pension Insurance Company 1.1 0.4 9. Herlin Heikki Juho Kustaa 0.6 0.3 10. Sigrid Jusélius Foundation 0.6 0.2 Nominee registered and non-Finnish holders Total number of shareholders 27.49% ■Wipunen varainhallinta Oy ■Pivosto Oy 3.0 % ■Mariatorp Oy ■ KONE Foundation ■Others 35,945 CARGOTEC Wipunen varainhallinta Oy is a company controlled by Ilkka Herlin, Mariatorp Oy a company controlled by Heikki Herlin and Pivosto Oy a company controlled by Ilona Herlin. Investor presentation April 2021 57#58Examples of our wide equipment offering KALMAR HIAB MACGREGOR Reachstacker Straddle carrier Loader crane Truck-mounted forklift Cranes Marine self-unloaders Terminal tractor Container handler Hooklift, Skiploader Taillift Hatch covers, container lashings Offshore load handling Forklift truck CARGOTEC Automatic stacking crane Recycling and forestry cranes Deck machinery Mooring systems Investor presentation April 2021 58#59Capex and R&D Capital expenditure MEUR Research and development MEUR 160 160 4.0% 140 140 3.5% 120 120 3.0% 100 100 2.5% 80 80 2.0% 60 60 1.5% 40 40 1.0% 20 20 0.5% 0 0 0.0% 2013 2014 Capex 2015 2016 2017 2018 2019** 2020*** Customer financing Depreciation* 2013 2014 2015 2016 2017 2018 2019 2020 R&D expenditure 0-% of sales Main capex investments: Kalmar innovation centre in Ljungby, Sweden Investments in multi-assembly units in Kalmar and Hiab Intangible assets, such as global systems to improve efficiency in operational activities and support functions CARGOTEC R&D investments focused on ☐ Themes supporting our climate targets such as digitalisation, electrification and automation Competitiveness and cost efficiency of products *) Including amortisations and impairments **) depreciation increased due to IFRS 16 implementation "") depreciation includes impairments worth EUR 16 of which EUR 16 has been booked as restructuring costs Investor presentation April 2021 59#60Well diversified geographical sales mix 34% 18% 2019 MEUR 3,683 48% 29% 22% 2020 MEUR 49% 3,263 ■EMEA APAC Americas ■ EMEA ■APAC Americas CARGOTEC Top-10 countries by customer location Rest of the world, 36% United States, 25% Norway, 3% Korea, Republic of, 3% Sweden, 4% Australia, 4% France, 5% Netherlands, 4% Germany, 7% China, 6% United Kingdom, 5% Investor presentation April 2021 60 60#61Sales by geographical segment by business area 2020 34% 19% KALMAR ■EMEA APAC Americas CARGOTEC 47% 37% 9% 54% HIAB 43% 11% 46% MACGREGOR ■EMEA APAC ■Americas EMEA APAC Americas Investor presentation April 2021 19 61#62Kalmar Hiab MacGregor Cargotec's R&D and assembly sites Canada United S Mexico Venezuela Colombia Pero Bolivia Brazil Chile Argentina Greenland United Finland Russia Ukraine Kazakhstan France Mongolia China Turkey Iraq Iran Algeria Libya Egypt Afghanistan Pakistan Saudi Arabia India Thail Mali Niger Sudan Chad Nigeria Emiopia DRC Kenya Tanzania Angola Namibia Madagascar Botswana South Africa ndonesia Papua New Guines Australia EMEA Stargard Szczecinski, Poland Ljungby, Sweden Stockholm, Sweden Tampere, Finland Helsinki, Finland AMER Bispgården, Swe Bologna, Italy Dundalk, Ireland Hudiksvall, Sweden Meppel, Netherlands Raisio, Finland Taranto, Italy Witney, UK Zaragoza, Spain Malmö, Sweden Averøy/Bodö Arendal, Norway Bergen auf Rugen & Bremen, Germany Gdansk, Poland Gothenburg, Sweden Hamburg, Germany Kaarina, Finland Kristiansand, Norway Rotterdam, Netherlands Zagreb, Croatia Örnsköldsvik, Sweden Oakland, California Ottawa, Kansas New Zealand Santo Antonio da Patrulha, Brazil Streetsboro, Ohio Seattle, Washington CARGOTEC Assembly R&D □ Head office APAC* Chennai, India Ipoh, Malaysia Shanghai, China Singapore *In addition, Cargotec has presence in China through its joint ventures Chungbuk, South Korea Investor presentation Busan, South Korea Haiphong, Vietnam Singapore April 2021 62 62#63200 Comparable operating profit development 180 160 140 Kalmar Hiab MacGregor 15.0% 200 15.0% 120 9.0% 13.5% 180 12.0% 160 10.5% 140 13.5% 100 12.0% 80 10.5% 60 7.5% 6.0% 4.5% 120 9.0% 120 9.0% 40 3.0% 100 7.5% 100 7.5% 20 1.5% 80 80 6.0% 60 40 40 20 20 60 80 6.0% 0 0.0% 4.5% 60 3.0% 40 1.5% 20 4.5% -20 3.0% -40 1.5% -60 -1.5% -3.0% -4.5% 0 0.0% 0 0.0% -80 -6.0% 2013 2014 2015 2016 2017 2018 2019 2020 2013 2014 2015 2016 2017 2018 2019 2020 2013 2014 2015 2016 2017 2018 2019 2020 Comparable EBIT Comparable EBIT-% Comparable EBIT Comparable EBIT-% Comparable EBIT Comparable EBIT-% CARGOTEC Investor presentation April 2021 63#64Sales and orders received development MEUR Kalmar 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 2013 2014 2015 2016 2017 2018 2019 2020 MEUR Hiab 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 2013 2014 2015 2016 2017 2018 2019 2020 Sales Orders received Sales Orders received --Order book -Order book CARGOTEC MEUR MacGregor 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 2013 2014 2015 2016 2017 2018 2019 2020 Sales Orders received Order book Investor presentation April 2021 64#65Gross profit development MEUR 1,000 750 500 250 30.0% 26.2% 24.6% 23.9% 23.7% 22.3% 21.1% 22.5% 18.9% 18.3% 15.0% 7.5% 583 634 787 840 852 814 873 728 0 0.0% 2013 2014 2015 2016 2017 2018 2019 2020 Gross profit, MEUR Gross profit-% CARGOTEC Investor presentation April 2021 65#66Net working capital development MEUR 300 250 200 150 100 50 186 151 57 115 271 158 103 0 2014 2015 2016 2017 2018 2019 2020 CARGOTEC Investor presentation April 2021 66#67Strong cash flow supported by net working capital reduction measures MEUR 400 300 200 100 Cash flow from operations before financing items and taxes 181 204 315 373 253 126 361 296 0 2013 2014 2015 2016 2017 2018 2019 2020 CARGOTEC Investor presentation April 2021 67#68Income statement Q4 2020 MEUR Sales Cost of goods sold Gross profit CARGOTEC Gross profit, % Other operating income Selling and marketing expenses Research and development expenses Administration expenses Restructuring costs Other operating expenses Costs and expenses Share of associated companies' and joint ventures' net income Operating profit Operating profit, % Financing income Financing expenses Income before taxes Income before taxes, % Income taxes Net income for the period Net income for the period, % Net income for the period attributable to: Equity holders of the parent Non-controlling interest Note Q4/20 Q4/19 2020 5 872.8 1,014.7 3,263.4 2019 3,683.4 -672.4 -775.1 -2,535.5 -2,810.3 200.4 239.6 727.9 873.1 23.0% 23.6% 22.3% 23.7% 8.3 8.7 48.0 33.5 -51.6 -62.6 -199.5 -238.4 -29.3 -30.4 -107.9 -105.6 -60.5 -76.1 -236.7 -269.3 7 -39.9 -53.5 -131.0 -80.1 -10.6 -10.5 -35.7 -33.8 -183.5 -224.3 -662.9 -693.7 0.7 2.7 5.3 0.6 17.6 18.0 70.4 180.0 2.0% 1.8% 2.2% 4.9% 0.4 0.3 2.8 4.0 -13.4 -10.2 -38.7 -38.1 4.5 8.2 34.5 145.9 0.5% 0.8% 1.1% 4.0% 9 2.1 -8.5 -26.4 -56.5 6.6 -0.3 8.1 89.4 0.8% 0.0% 0.2% 2.4% 6.5 -0.3 8.1 89.4 0.1 0.0 -0.1 0.0 Total 6.6 -0.3 8.1 89.4 Earnings per share for profit attributable to the equity holders of the parent: Earnings per share, EUR Diluted earnings per share, EUR 0.10 -0.00 0.13 1.39 0.10 -0.00 0.13 1.39 Investor presentation April 2021 68#69Balance sheet 31 Dec 2020 EQUITY AND LIABILITIES, MEUR Note 31 Dec 2020 31 Dec 2019 Equity attributable to the equity holders of the parent Share capital 64.3 64.3 Share premium account Translation differences 98.0 98.0 -110,9 -33.2 Goodwill ASSETS, MEUR Non-current assets Other intangible assets Note 31 Dec 2020 31 Dec 2019 Fair value reserves 4.4 -9.1 Reserve for invested non-restricted equity 57.4 57.4 971.9 185.8 1,058.5 Retained earnings 1,185,6 1,247.1 296.1 Total equity attributable to the equity holders of the parent 1,298.7 1,424.5 Property, plant and equipment 429.7 489.7 Investments in associated companies and joint ventures 16 56.7 120.8 Non-controlling interest Share investments 16 37.5 0.3 Total equity 2.7 1,301.4 2.8 1,427.3 Loans receivable and other interest-bearing assets* 11 18.4 29.1 Deferred tax assets 123.6 131.2 Non-current liabilities Derivative assets Total non-current assets Current assets Inventories 12 Other non-interest-bearing assets 0.1 17.2 Interest-bearing liabilities* 1,840.9 10.3 2,136.0 Deferred tax liabilities Pension obligations Provisions Derivative liabilities Other non-interest-bearing liabilities Total non-current liabilities 11 1,027.4 20.6 953.3 39.1 115.5 110.4 7.2 7.0 12 0.0 62.6 1,233.4 66.0 1,175.8 579.7 713.0 Loans receivable and other interest-bearing assets* 11 4.3 1.3 Income tax receivables 25.4 24.1 Derivative assets 12 13.3 8.5 Current liabilities Accounts receivable and other non-interest-bearing assets 753.9 924.3 Current portion of interest-bearing liabilities* Cash and cash equivalents* 11 Total current assets 484.8 1,861.4 420.2 Other interest-bearing liabilities* FF 11 136.1 233.0 11 19.6 38.1 Provisions 105.9 114.3 2,091.4 Advances received 182.7 306.3 Income tax payables 21.7 21.1 Assets held for sale Total assets 17 185.7 Derivative liabilities 12 19.4 11.8 3,888.0 4,227.4 Accounts payable and other non-interest-bearing liabilities Total current liabilities 797.5 899.8 1,282.7 1,624.3 *Included in interest-bearing net debt. Liabilities directly associated with assets held for sale 17 70.5 Total equity and liabilities 3,888.0 4,227.4 *Included in interest-bearing net debt. CARGOTEC Investor presentation April 2021 69#70Cash flow statement Q4 2020 MEUR Note Q4/20 Q4/19 2020 2019 Note Q4/20 04/19 2020 2019 Net cash flow from operating activities Net income for the period 6.6 -0.3 8.1 89.4 Net cash flow from financing activities Depreciation, amortisation and impairment Financing items 8 35.8 43.6 144.0 133.8 Treasury shares acquired 13.1 9.8 35.9 34.1 Repayments of lease liabilities Proceeds from long-term borrowings Taxes -2.1 8.5 26.4 56.5 Change in receivables 9.6 -39.8 106.8 -69.6 Change in payables 12.1 94.2 -149.2 106.5 Change in inventories 122.6 96.7 98.7 13.5 Repayments of long-term borrowings Proceeds from short-term borrowings Repayments of short-term borrowings Profit distribution Change in net working capital 144.4 151.1 56.4 50.4 Net cash flow from financing activities -2.2 -11.2 -13.5 -44.1 -45.5 -0.1 249.5 298.1 -52.8 -16.5 -251.4 -168.3 -0.8 1.5 98.8 271.6 -6.1 -112.8 -106.9 -257.8 -3.6 -35.4 -77.8 -71.0 -74.4 -176.7 -131.8 24.9 Other adjustments -1.9 -4.8 25.6 Cash flow from operations before financing items and taxes 195.8 208.0 296.4 -3.2 361.1 Change in cash and cash equivalents 119.5 29.9 86.9 177.8 Interest received 1.0 1.1 Interest paid -4.3 -5.0 2.8 -25.8 5.3 -29.4 Dividends received 0.1 Cash and cash equivalents, and bank overdrafts at the beginning of period 369.8 Other financing items Income taxes paid Net cash flow from operating activities -6.5 3.5 4.3 12.1 -9.0 -24.5 14.5 Effect of exchange rate changes -48.1 190.3 219.7 240.0 303.5 Cash and cash equivalents included in assets held for sale Cash and cash equivalents, and bank overdrafts at the end of period 17 -7.3 0.4 380.3 -0.4 409.8 -14.8 0.4 225.5 6.6 482.3 409.8 482.3 409.8 Net cash flow from investing activities Acquisitions of businesses, net of cash acquired 15 Disposals of businesses, net of cash sold 15 55 -0.3 -2.5 0.7 0.3 Investments in fixed assets -12.5 -13.2 -12.1 2.7 -46.7 -109.5 Bank overdrafts at the end of period 0.3 -68.5 Cash and cash equivalents at the end of period 2.5 484.8 10.4 420.2 2.5 484.8 10.4 420.2 Disposals of fixed assets 8.6 2.8 Cash flow from investing activities, other items Net cash flow from investing activities 7.1 -0.5 25.9 8.9 20.8 6.2 3.6 -13.0 -21.3 -150.6 CARGOTEC Investor presentation April 2021 10 70#71Sustainability as a driver for future growth 71#72We create value for all stakeholder by being a 1.5 degree company "We operate in an ethical and safe manner and develop our employees" Safety and well-being Employee engagement Diversity and inclusion Responsible sourcing SMARTER CARGO FLOW FOR A BETTER EVERYDAY CARGOTEC PEOPLE AND SOCIETY ENVIRONMENT GOVERNANCE "We take responsibility for the environment thoughout our value chain" Greenhouse gas emissions Own operations Circular Economy Eco-efficient solutions "We promote good corporate governance and respect our shareholders" Compliant and transparent Climate risks and opportunities Business ethics Financial sustainability Investor presentation April 2021 72 22#73Climate solutions is our focus area in sustainability SUSTAINABLE DEVELOPMENT GOALS INDUSTRY, INNOVATION 9 INDUSTRYASTROVATURE AND INFRASTRUCTURE 16 PEACE, JUSTICE AND STRONG INSTITUTIONS 8 DECENT WORK AND ECONOMIC GROWTH 12 RESPONSIBLE CONSUMPTION AND PRODUCTION CARGOTEC QO 17 PARTNERSHIPS FOR THE GOALS L_. 13 CLIMATE ACTION Greenhouse gas emissions* Sourcing Cargotec's own operations Use of sold products* *CO2 equivalents, based on an estimate on emission in 2019 and products' lifecycle emissions Investor presentation April 2021 73#74INNIN LIFETIME SAVINGS OF KALMAR'S ELECTRIC TERMINAL TRACTOR III. SKALMAR 179 7-389 CARS OFF THE ROAD FOR A YEAR TONS CO₂ το 74 Average conditions in Finland, Kalmar Ottawa T2#75נה. Our ambition, approved by The Science Based Targets initiative, is to reduce Cargotec's greenhouse gas emissions by 50% across all the three emission scopes by 2030, from 2019 base year. Cargotec's internal goal is to become carbon neutral in its own operations which goes beyond the required ambition level of the Science Based Targets initiative. CARGOTEC KALMAR HIAB MACGREGOR SCIENCE BASED TARGETS DRIVING AMBITIOUS CORPORATE CLIMATE ACTION#76CARGOTEC IS COMMITTED TO THE 1.5 DEGREES CLIMATE GOAL Tons of CO₂e 6 000 000 5 000 000 VALUE CHAIN 2019 CARGOTEC 4 000 000 3 000 000 2 000 000 1 000 000 COVERS OUR SUPPLIERS AND CUSTOMERS. THE EMISSIONS ENCOMPASS MANUFACTURE OF PURCHASED GOODS AND THE USE OF SOLD PRODUCTS. 53 000 tons of CO₂e OWN OPERATIONS INTELLIGENT CARGO HANDLING IS THE SOLUTION... PRODUCT MANUFACTURING Product design to fit circular economy Lighter products with same functionality Alternative materials with lower climate impact PRODUCT USE-PHASE From diesel to electric products Automation and digitalisation to eliminate inefficiencies PARTNERSHIPS ACROSS THE VALUE CHAIN TO REACH THE GOAL ...TO CUTTING EMISSIONS IN OUR VALUE CHAIN BY 50% 1.5°C SCENARIO VALUE CHAIN 2030 OUR OWN OPERATIONS WILL BE CARBON NEUTRAL BY 2030 Investor presentation April 2021 76#7721 21 21 20 Eco-efficiency portfolio targets double sales growth compared tradional equipment INDUSTRIAL INJURY FREQUENCY RATE* 80 60 ECO PORTFOLIO IIFR MEUR 8 6,000 7.0 6.7 6.1 5.7 5,000 6 4,000 18 60 40 40 20 20 3.4 4 3,000 2,000 2 1,000 30 800000 % 24 24 25 25 20 20 15 10 10 Investor presentation April 2021 77 5 46 48 54 65 24 3,250 3,304 3,683 3,263 0 0 0 0 2016 2017 2018 2019 2020 2017 2018 2019 2020 Number of lost time injuries -Cargotec IIFR** Total sales --Eco portfolio, % of sales *Cargotec assembly sites ** Number of injuries permillion worked hours CARGOTEC#78ASCAL KALMAR KALMAR ASCOOL MOL CREATION Sea Freight Transport is by far the most sustainable transport mode in terms of emissions Compared to transportation of goods → by trains, sea freight emits ~2-3 times less emissions → by trucks, sea freight emits ~3-4 times less emissions → by air cargo, sea freight emits ~14 times less emissions CARGOTEC Investor presentation April 2021 78#79Kalmar appendix CARGOTEC Investor presentation April 2021 79 19#80Cargotec to sell Navis software business ■ ■ In February 2020, Cargotec started the review alternative development paths of Navis business to secure best possible growth and value creation for the next development phase for Navis On 26 March 2021, Cargotec announced the sale of Navis to technology investment firm Accel-KKR for an EV of EUR 380 million = 3.6 x sales Closing is expected by the end of Q3 2021 Approximately EUR 230 million positive impact on Cargotec's operating profit in 2021 Cargotec's investment since 2011 has enabled Navis to become the market leader in terminal operating systems (TOS), and more than doubled revenue to MEUR 107 Cargotec's other software business will not be sold CARGOTEC Investor presentation April 2021 80#81Committed to become the leader in intelligent cargo handling - evaluating future options for value creation Increased focus on intelligent solutions and system level optimisation. Availability and performance-based solutions and services 2 Advanced robotics Continuous development of equipment, spare parts and 1 maintenance services CARGOTEC 3 Evaluating ecosystem play Investor presentation April 2021 81#82The current replacement market size for key terminal equipment is EUR 1 billion annually and the market is expected to double in the next decade Total Capacity MTEU 1,400 1,200 1,000 800 600 400 200 0 e1995 e1996 e1997 e1998 e1999 e2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 f2019 f2020 f2021 f2022 f2023 The replacement market will grow in coming years, as the container terminal capacity has expanded significantly during the last two decades. Average lifetime of type of equipment: ■ STS-25 yrs RTG -15 yrs ■ SC - 8-10 yrs RS/ECH/TT - 8 yrs Replacement after lifetime of equipment CARGOTEC Source: Drewry reports: Global Container Terminal Operators 2001-2016 Note: 1995-2000 capacity is estimation based on the assumption that the utilisation rate has been between 70- 72% in that period. 2019-2023 forecast based on Drewry's Global container terminal operators report, published in Q4/2019 Investor presentation April 2021 82#83Global container terminal operators - Most capacity expected to be added by Cosco Global/international terminal operators' capacity development, 2018-2023 (MTEU) China Cosco Shipping" PSA International Hutchison Ports APM Terminals DP World Terminal Investment Limited China Merchants Ports CMA CGM ** ONE *** NYK # MOL # K Line # Eurogate SSA Marine ICTSI Evergreen Hyundai HHLA Yildirim/Yilport Bollore Ports Yang Ming SAAM Puertos CARGOTEC 0.0 20.0 40.0 60.0 80.0 100.0 120.0 140.0 2018 2023 160.0 Source: Drewry Maritime Research * Cosco figure includes OOCL terminals ** CMA CGM includes APL terminals *** International terminals of NYK, K Line and MOL are due to be combined as part of ONE merger # Japanese terminals only from 2019 onwards Hutchison figure includes HPH Trust terminals TIL figure does not include MSC/affiliated companies Figures include total capacity for all terminals in which shareholding held (regardless of size of shareholding) Figures do not include capacity related to stevedoring operations at common user terminals and also exclude barge/river terminals Figures based on confirmed expansion plans only Some double counting occurs where joint ownership/management structures exist Figures for each operator do not include capacity of other operators in which stakes are held Investor presentation April 2021 83#84Global container throughput and capacity development 1400 1200 1000 800 600 400 200 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 f2020 f2021 f2022 f2023 f2024 Throughput, MTEU Capacity, MTEU -Utilisation rate CARGOTEC Sources: Throughput: Drewry container forecaster Q2/20 Capacity: Drewry Annual Global container terminal review 2020 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Investor presentation April 2021 84#8560% of global container throughput is expected to take place in APAC in 2020 AMER 177 mteu (15% of total) EMEA 203 mteu (25% of total) Source: Drewry container forecaster Q4 2019 CARGOTEC APAC 477 mteu (60% of total) Global container throughput expected to decrease 0.5% in 2020 ■ APAC -0.2% (-1 mteu) EMEA -1.3% (-3 mteu) ■ AMER -0.3% (-0 mteu) → Drewry states that its scenario is not a "worst-case" COVID-19 scenario and that a more significant decrease is possible Investor presentation April 2021 85 55#86Three alliances controlling about 80% of global container fleet capacity Shipping line Maersk MSC CMA CGM China Shipping MÆRSK SC CMA CGM |中国海运 CENA SHIPPING الاسلامية اقة Alliance/ Vessel sharing agreement (VSA) P3 (denied) 2M Ocean Three China Shipping/ UASC April 2017 2M UASC NYK UASC NYKLINE SIPPON VLEN KAITH OOCL (acquisition ongoing) Hapag-Lloyd OOCL We take it personally APL MOL APL Hapag-Lloyd MOL HMM Hyundai Cosco China Cosco Shipping K-Line Yang Ming Ocean Network Express Han Evergreen Hamburg Sud Total: 17 (9 after further consolidations) Kojico Cosco 中国远洋海运集团有限公司 SHIPPING CHINA COSCO SHIPPING CORPORATION LIMITED K "K" LINE AMERICA, INC. YANG MING YANG MING MARINE TRANSPORT CORP OCEAN NETWORK EXPRESS HANJIN SHIPPING HAMBURG SÜD CARGOTEC Grand Alliance Ocean Alliance G6 Alliance New World Alliance CKYH Alliance CKYH Alliance The Alliance Independent The arrows indicate changes, confirmed or planned, through M&A or JV over the last 18 months. Hanjin bankrupt. Hyundai isn't currently officially part of any alliance, but formed a cooperative relationship with 2M. Ocean Network Express (ONE) launch April 2018. COSCO Shipping's planned acquisition of OOCL expected to completed by the end of June Analyse excludes Zim, PIL and Wan Hai Investor presentation Sources: Drewry, Alphaliner, Cargotec April 2021 86#87Ship sizes increasing dramatically ■ The largest containership in the fleet has nearly tripled since 2000 TEU 20,000 18,000 16,000 The average size of new builds doubles between 2009 and 2014 14,000 12,000 10,000 8,000 6,000 4,000 2,000 CARGOTEC 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Largest container ship in world fleet Average newbuilding delivered in year Source: Drewry November 2015 Investor presentation April 2021 87#88Hiab appendix CARGOTEC Investor presentation April 2021 88#89Construction output forecast Annual Construction Output CARGOTEC Bn€ 4,500 10.00% 4,000 8.00% 3,500 8% 6.00% 3,000 4% 4% 2,500 3% 3% 3% 4% 4.00% 2% 3% 3%- 507 2,000 2% 2.00% 1,500 0.00% 1,000 - -2.00% 500 -4% -4.00% 0 -6.00% 2,009 2,010 2,011 2,012 2,013 2,014 2,015 NAM 2,016 SAM 2,017 2,018 2,019 NE 2,020 2,021 2,022 UK DACH BENELUX MED EE MEA APAC Total YoY change Percentage point change vs last forecast YoY changes NAM SAM NE UK DACH BENELUX MED EE MEA APAC 2017 2018 2019 2020 2021 1.2% -0.4% -0.8% -5.2% 2.2% -0.4% 0.6% -1.1% -16.3% 4.0% -0.2% -1.6% -1.9% -0.7% -0.3% 0.0% -1.5% -0.7% 0.5% 2.0% -0.5% -0.9% -0.5% -0.7% 0.7% -0.5% -4.3% 1.1% 0.8% 2.4% -0.1% -0.1% -0.3% -0.9% -4.8% 4.2% Total 0.2% -0.3% -0.7% -7.2% 4.4% Source: Oxford construction output (All Output series are measured in Billions, 2015 Prices) September 2019 2022 2.8% NAM 3.6% SAM -7.3% 3.2% -16.2% 15.8% 0.0% 1.5% -5.4% 2.8% -19.7% 11.3% -7.7% 2.7% -8.1% 3.3% 2.2% NE 2.6% 2017 2018 2019 2.6% 2.0% -0.1% -2.8% -4.0% -1.2% -2.0% -13.7% 3.9% 1.1% -5.3% 5.1% 2020 2021 2022 4.5% 2.8% 7.4% 3.6% 2.2% 3.8% UK 6.7% 0.4% 2.2% DACH 3.6% BENELUX 6.3% MED 3.9% EE 5.1% 4.0% APAC 3.7% 3.8% Total 2.8% 1.4% 2.0% 2.2% 2.7% -14.5% 17.6% 3.8% 5.1% 4.6% 4.3% 1.5% 2.8% -3.9% 4.2% 2.2% 2.7% 2.3% 2.9% 3.6% -17.5% 13.4% 6.3% 4.2% 7.5% 5.5% -4.6% 5.7% 3.9% MEA 2.7% 0.5% -0.2% -5.2% 7.2% 5.1% 3.7% 3.6% -0.9% 8.2% 4.0% 2.6% 2.0% -4.3% 7.5% 3.8% Investor presentation April 2021 89#90MacGregor appendix CARGOTEC Investor presentation April 2021 90#910 500 Avg. 96-19 1000 2016 1500 2000 T T T 2017 2500 2018 Tanker Container Cruise 2019 Contracting history and forecast September 2020 No. of ships, Merchant ship types> 2000 gt, excl ofs and misc Merchant ships: Contracting forecast by shiptype (no of ships) Merchant ship types > 2000 gt excl offshore and misc, base case LNG/LPG MPP/GC ......Low case, total CARGOTEC Source: Clarkson Research, September 2020 10 Bulker RoRo/PCC High case, total 2029 2030 0 50 Crude/Prod historical avg 1996-2019: 1767 vessels 400 200 350 300 260 250 150 115 100 Chem/Spec Bulker According to the long-term forecast volume sectors (tankers, bulkers, container ships) continue to drive majority of orders in numerical terms. Number Of Orders, Average Per Annum 2020-30 63 80 / 331 66 69 Container MPP Ro-Ro Investor presentation April 2021 91 22 PCC 228 62 59 24 24 10 Gen Cargo Pax Cruise#92Merchant ships: Deliveries forecast by shiptype (no of ships) Merchant ship types > 2000 gt excl offshore and misc, base case 2500 2000 1500 1000 500 0 Avg. 96-19 2016 2017 Deliveries history and forecast September 2020 No. of ships, Merchant ship types > 2000 gt, excl ofs and misc Tanker OLNG/LPG Bulker Container MPP/GC RoRo/PCC Cruise CARGOTEC Source: Clarkson Research, September 2020 historical avg 1996-2019: 1578 vessels Investor presentation April 2021 92 22#93Offshore mobile units: Contracting forecast by shiptype (number of units), base case 600 500 400 300 200 100 0 T T T T Avg. 09-19 Contracting history and forecast, September 2020 No. of units, Mobile offshore units historical avg 2009-2019 427 units Offshore wind is expected to drive ordering of dedicated offshore wind vessels, but also a wider range of other mobile offshore units, such as crane units, cable layers, heavy lift and multipurpose vessels. Contracting history and forecast, September 2020 No. of units, Offshore wind farm vessels (Gradual Transition: offshore wind reaching 160 GW in 2030) 100 80 60 40 212 2017 Survey Logistics 2018 2019 2020 20 Mobile drilling AHTS 2021 2022 2023 2024 2025 2026 20 Construction Mobile production 0 PSV Rescue & Salvage Utility Support ......Low case, total High case, total CARGOTEC Source: Clarkson Research, September 2020 2017 2018 2019 Wind turbine installation Service operation Crew transfer Rapid Decarbonisation (240 GW in 2030) Investor presentation April 2021 93 93#94Offshore mobile units: Deliveries forecast by shiptype (number of units), base case 600 500 400 300 200 T 100 T T Hist. average 2009-2019 Delivery history and forecast, September 2020 No. of units, Mobile offshore units historical avg 2007-2018 518 units 2017 2018 2019 2020 2020 Survey Mobile drilling Construction Mobile production Logistics AHTS PSV Rescue & Salvage Utility Support CARGOTEC Source: Clarkson Research, September 2020 Investor presentation April 2021 94#95Shipbuilding - contracting ships >2000 gt/dwt Global Contracting Activity (1st October 2020) Builder country split YTD 1st Oct 2020 2018 TOTAL (>2,000 Dwt/GT") 1,387 No. 2019 2020ytd %y-o-y* 2018 1,146 429 -50% 78.6 $bn m. CGT 3% 3% 2019 2020ytd %y-o-y* 80.4 23.4 -61% 2018 2019 2020ytd %y-o-y* 7% 11% 6% 35.4 28.9 10.0 -54% 22% Vessel Type Bulkers 459 336 116 -54% 13.9 10.6 3.1 -61% 9.6 6.7 2.1 -59% Tankers 283 265 139 -30% 12.2 12.1 6.4 -29% 6.5 6.2 3.3 -30% 48% 54% Containerships 217 116 30 -66% 11.1 6.9 1.4 -72% 6.4 3.6 0.8 -70% 39% Gas Carriers 125 123 47 -49% 15.3 14.1 6.6 -38% 6.8 5.7 2.3 -47% Offshore 64 69 28 -46% 5.3 8.9 2.6 -61% 1.1 1.2 0.8 -10% Others 239 237 69 -61% 20.9 27.8 3.4 -84% 5.0 5.5 0.8 -80% 28% Builder Country/Region 20% 29% China 545 454 233 -32% 20.7 22.6 9.1 -46% 10.8 9.6 4.8 -33% 13% South Korea 290 235 84 -52% 27.7 23.3 6.7 -61% 13.6 10.1 2.8 -63% 7% 10% Japan 384 277 55 -74% 12.2 8.8 1.6 -75% 7.2 4.9 1.0 -74% No. of Ships Value CGT Europe Other 103 99 27 -64% 16.5 23.8 5.2 -71% 3.0 3.6 1.1 -60% 429 ships $23,4b 10.0m 65 81 30 -51% 1.6 1.9 0.8 -45% 0.8 0.8 0.3 -47% ■Japan Korea China Europe Others CARGOTEC Source: Clarkson Research, October 2020 Investor presentation April 2021 95#96Shipbuilding capacity and utilisation scenario Capacity projected to reach low at end 2022 70 60 60 m CGT 50 40 40 30 % 100% Japan % Utilisation (RHS) China Other South Korea Europe 95% 90% 85% 80% 75% 70% 65% Investor presentation April 2021 96 60% 10 55% 0 50% 2012 2013 2014 2015 2016 2017 2018 2019 2020P 2021P 2022P 2023P 2024P 2025P 20 20 CARGOTEC Source: Clarkson Research, September 2020#97Shipping - The world fleet Total world fleet (>100 gt) comprises currently roughly 99,000 ships World Fleet as at September 2020 (million GT) Crude Tankers Product Tankers 113.8 Chemical Tankers 30.3 Spec. Tankers 0.7 Bulkcarriers Combos 0.5 LPG Carriers 23.4 LNG Carriers Containerships 63.4 223.9 498.9 249.3 Multi-Purpose Vessels 21.5 General Cargo 20.5 99,248 ships 1.4bn GT 2.1bn dwt Ro-Ro 12.8 Car Carriers 37.3 Reefers 4.4 Offshore 59.2 Dredgers 4.9 Tugs 5.6 Cruise 24.3 Ferries 20.7 Other Non Cargo 2.5 0 50 100 150 200 250 million GT 300 350 400 450 500 CARGOTEC Source: Clarkson Research, September 2020 Investor presentation April 2021 46 97#980 1,600 Fleet, end year 1,400 Fleet Growth % 1,200 1,000 800 600 400 200 World fleet and order book development World fleet growth slowing; orderbook at historically low level at ~7% of the fleet Development of World Fleet, million GT Orderbook as % of fleet - lowest for 20 years Fleet growth peaked at c. 9% in 2010 10% 80% 9% 70% 8% 60% 7% 6% 50% 5% 40% 4% 3% 30% 2% 20% 2020 (f): 2.4% 1% 2021 (f): 1.9% 10% 0% -1% 0% 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017 2019 2021f world fleet 65% larger than 2008 35% more cargo being moved than 2008 CARGOTEC Source: Clarkson Research, September 2020 Global Fleet, GT Containerships (TEU) Chemical Tankers (Dwt) LPG Carriers (Cu. M.) 2011 2012 2013 2014 2015 2016 2017 2018 2019 Dry Bulk (Dwt) Deep Sea Tankers (Dwt) LNG Carriers (No. of Vessels) Investor presentation April 2021 98 2020 Sep-20#99Environmental regulations will only accelerate going forward Shipping decarbonisation high on the agenda IMO: Baltic Sea ECA in effect 1.0% ECA Sulphur Limit 3.5% Global Sulphur Limit Lower EEDI reference line (Phase 1) Ratification of Ballast Water Management Convention (BWMC) BWMC implementation for majority of fleet US Global NOx Tier I Limit Global NOx Tier II Limit Caribbean ECA in effect EU MRV reporting period begins in EU ports EU MRV certification in effect Lower EEDI ref. line (Phase 2) Lower EEDI ref. line (Phase 3)* *) will become in force earlier, already 2023 50% GHG Reduction Target Timeline Key ECAs SOx NOx GHG / EEDI Green Recycling Ballast Water 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Current Position 2020 2021 2022 2023 2024 2025 2030 2050 North Sea ECA in effect North American ECA in effect 0.1% ECA Sulphur limit BWMC enters into force EU SRR enters into force North Sea & Baltic Sea NOx ECAS in effect EEDI for newbuildings formally adopted EEDI & SEEMP Mandatory (Phase 0) ECA NOx Tier III emission limit takes effect* IMO DCS reporting period begins 0.5% Global Sulphur Limit, carriage ban from March 40% CO2 Intensity Reduction Target European Union Green Deal - shipping to be included in the EU ETS in 2022. " In September 2020, the European Parliament voted for the inclusion of greenhouse gas (GHG) emissions from ships over 5,000 gross tonnes in the emissions trading system (EU ETS) by 1 January 2022. It also wants firms to cut ships' annual average CO2 emissions by more than 40% by 2030. It also voted to include methane emissions in the monitoring and reporting obligation. The commission is set to announce a revision of the EU's GHG emissions reduction target for 2030 upwards from 40% to 55%. It also seeks to include "at least" intra-EU maritime transport in the EU ETS. It called for 50% of revenues from the sale of EU ETS allowances to the maritime sector to be used for an Ocean Fund, established for the period 2022-2030 to improve the energy efficiency of ships and support investment in decarbonisation. An additional amendment adopted would oblige the commission to propose by 31 December 2022 "additional requirements to reduce GHG emissions other than CO2, as well as to reduce air pollutants and the discharge of wastewater, including from scrubbers, into open waters from ships". And the review should also "consider" an extension of the scope of the regulation to include ships of 400-5,000 gross tonnage. CARGOTEC Source: Clarkson Research & European Union, September 2020 Investor presentation April 2021 99#100Global offshore wind market is in rapid growth . • Offshore wind related capex exceeding oil & gas by 20224 Growth drivers . Global offshore wind installations1 GWh 35 30 30 Increasing electricity usage Demand for sustainable energy • Affordable Economic stimulus MacGregor focuses on 25 25 20 20 CAGR² 15 18.6% 35% CAGR³ 8.2% 30% A10 25% A10 20% 15% installation and service vessels and is involved in floating solutions . Addressable market size in 2021-2030 cumutively a few billion EUR CARGOTEC 10 5 10% 5% 0% Europe Asia ex China Other China North America Floating, % of total 2) 7237 1) GWEC Market Intelligence, June 2020 Compound Annual Growth Rate 2020-2024 3) 4) Compound Annual Growth Rate 2025-2030 In Eurore, Source: Rystad Energy research and analysis mvestor.ore MACGREGOR#101Blue Growth, aquaculture and offshore wind energy offer us new interesting growth opportunities ट Seaborne logistics (U) Marine bio- technology Marine and Tourism Fishing Aquaculture seabed mining Offshore oil and gas Offshore wind energy D Ocean renewable energy Traditional New Core Growth New Growth New Growth New Growth New Growth Traditional Core New Growth New Growth Investor presentation April 2021 101#102For more information, call us or visit our IR-page Upcoming IR events 28 April 2021 28 July 2021 Interim report January-March 2021 Half year financial report January-June 2021 28 October 2021 Interim report January-September 2021 Invertor relations contact information Meeting requests: Tiina Aaltonen, Executive Assistant to the CFO and IR Tel. +358 20 777 4105, [email protected] IR Team Hanna-Maria Heikkinen VP, Investor Relations Tel. +358 20 777 4084 Aki Vesikallio Director, Investor Relations Tel. +358 40 729 1670 Martti Henttunen Senior Communications Manager Tel. +358 40 570 1878 CARGOTEC#103CARGOTEC 103