#1KALMA Global Leader in Sustainable Cargo Flow Investor Presentation Q1/2024 CARGOTEC#2Disclaimer The following applies to this presentation, the oral presentation of the information in this presentation by Cargotec Corporation (the "Company" or "Cargotec") or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation (collectively, the "Information"). In accessing the Information, you agree to be bound by the following terms and conditions. This presentation does not constitute an offer of or an invitation by or on behalf of Cargotec, or any other person, to purchase any securities. The Information includes "forward-looking statements" that are based on present plans, estimates, projections and expectations and are not guarantees of future performance. They are based on certain expectations and assumptions, which, even though they seem to be reasonable at present, may turn out to be incorrect. Shareholders should not rely on these forward-looking statements. Numerous factors may cause the actual results of operations or financial condition of Cargotec, Kalmar or Hiab to differ materially from those expressed or implied in the forward-looking statements. Information in this presentation, including but not limited to forward-looking statements, applies only as of the date of this presentation and is not intended to give any assurances as to future results. The Information includes estimates relating to the benefits expected to arise from the planned partial demerger, which are based on a number of assumptions and judgments. The assumptions relating to the estimated benefits arising from the planned partial demerger are inherently uncertain and are subject to a wide variety of significant business, economic, regulatory and competitive risks and uncertainties that could cause the actual benefits arising from the planned partial demerger to differ materially from the estimates in this presentation. Further, there can be no certainty that the planned partial demerger will be completed in the manner and timeframe described in this presentation, or at all. 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. CARGOTEC 2#3Content 1. Global Leader in Sustainable Cargo 2. Flow Business areas Kalmar Hiab MacGregor 3. Recent development 4. 5. Financials Sustainability as a growth driver 6. Governance CARGOTEC KRUMA#4Cargotec today based on 2023 figures Sales: EUR 4,569 million Comparable operating profit: 11.2% (EUR 513 million) Service sales: 30% CARGOTEC 16% Sales 4,569 MEUR 39% 45% Kalmar Hiab MacGregor KALMAR Sales: EUR 2,050 million Comparable operating profit: 13.6% (EUR 279 million) HIAB Sales: EUR 1,787 million Comparable operating profit: 14.1% (EUR 252 million) MACGREGOR Sales: EUR 733 million Comparable operating profit: 4.5% (EUR 33 million)#5Our core businesses focus on high margin solutions and recurring business Core Businesses* HIAB KALMAR Exit** KALMAR Solution in 2024 MACGREGOR Equipment Mobile Equipment Shuttle carriers Heavy cranes & Services CARGOTEC Services ASCS039 BROMMA Bromma *) Kalmar is planned to be listed separately in 2024 end-to-end automation projects Equipment & Solutions SERIST Services **) EUR 3 million left in order book by the end of 2023 5#6Core businesses are growing with stable profitability... CORE BUSINESS MEUR NON-CORE BUSINESS* MEUR -3%1 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 +6%1 71 14% 1,400 12% 1,200 10% 1,000 8% 800 6% 600 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 CARGOTEC Sales- Comparable OP-% 4% 400 2% 200 0% 0 لا 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Sales- Comparable OP-% 1) Sales CAGR 2013-2023 *) Kalmar heavy cranes and MacGregor All figures management estimates 4% 2% 0% -2% -4% -6% -8% -10% 9#7...with both consistently delivering double digit profitability MEUR 2500 2000 1500 1000 500 20% Sales CAGR 2013-2023 15% 10% 5% 0 0% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Hiab sales New Kalmar sales - Hiab Comparable OP% New Kalmar Comparable OP% CARGOTEC New Kalmar figures management estimates +5% 71 +7% 7 7#8CARGOTEC In April 2023, Cargotec Board decided to investigate and initiate a process to potentially separate its core businesses Kalmar and Hiab into two focused world-leading standalone listed companies to unlock shareholder value KALMAR 8#9Strategic rationale of the planned separation: Logical next step to capture full business potential Unlocks the full potential of Kalmar and Hiab with more distinctive strategies and investment stories Increases attractiveness and facilitates fair valuation of the businesses with currently limited cross-selling and operational synergies Allows faster organic and inorganic growth thanks to a more tailored capital allocation strategy and flexible access to external capital Enhances Kalmar's and Hiab's business performance through higher agility, decisiveness and stronger management focus Simplifies structures and improves the governance of the separate businesses and provides greater transparency and accountability CARGOTEC 9#10Limited overlap between the businesses - across end-markets, sales & distribution channels and technological focus KALMAR Technology forerunner in container handling and heavy logistics with strong market positions, geared to grow by making the industry electrified and more sustainable HIAB Industry pioneer in on-road load handling with a strong track record of profitable growth and attractive M&A potential CARGOTER X-000148#11Kalmar demerger plan approved by Cargotec Board on 1 February 2024 Cargotec's Board of Directors has approved a demerger plan concerning the separation of Kalmar into an independent listed company. The Demerger is subject to approval by the AGM of Cargotec to be held on 30 May 2024. О The prospectus, which is expected to be published by Cargotec in May 2024 before the AGM, will contain more detailed information on the Demerger and Kalmar. The planned completion date of the Demerger is 30 June 2024. The trading in shares of Kalmar on Nasdaq Helsinki is expected to commence on or about 1 July 2024 Cargotec will, in parallel, continue looking for a solution for MacGregor during 2024. Certain major shareholders of Cargotec have indicated their support for the proposed Demerger CARGOTEC 蛋 11#12Structure of the planned transaction Post transaction (and MacGregor solution) Kalmar and Hiab would be separate standalone businesses Envisaged structure post demerger Existing Cargotec shareholders 100% (A/B series) 2024 Kalmar Hiab 2025 Kalmar Hiab 100% (A/B series) Cargotec Technology forerunner in container handling Industry pioneer in on-road load handling CARGOTEC Solution for MacGregor Listing and ownership High transaction certainty Conditions precedent Planned Kalmar listing on Nasdaq Helsinki in July 2024 Kalmar fully owned by shareholders - no direct ownership by Cargotec No investments required from shareholders No proceeds needed by Cargotec Limited dependence on capital markets Shareholder approval 12#13Kalmar Board of Directors proposed to be elected by Cargotec Annual General Meeting Further proposed members of the Board to be announced prior to the AGM CARGOTEC CHAIR MEMBER MEMBER Jaakko Eskola Teresa Kemppi-Vasama Tapio Kolunsarka 13#14Kalmar's highly experienced and committed management team as of April 1, 2024 Sami Niiranen President & CEO (upon demerger) Sakari Ahdekivi CFO Carina Geber-Teir Head of IR & Communications Alf-Gunnar Karlgren Thor Brenden Head of Terminal Tractors Arto Keskinen Head of Horizontal Transportation Head of Counterbalanced CARGOTEC Francois Guetat Head of Integrated Supply Chain Mathias Höglund Head of Human Resources Starting 1 May 2024 Tommi Pettersson Head of Strategy, Sustainability and Technology Marika Väkiparta Head of Transformation Office Shushu Zhang Head of Bromma Thomas Malmborg Head of Services Selected later Head of Legal & Compliance 150+ years of joint industry experience 14#15Preliminary timeline for the demerger and listing of Kalmar* Provided the shareholders decide to proceed with the process 1 Apr 2024 30 Apr 2024 May 2024 28-29 May 2024 30 May 2024 30 June 2024 Sami Niiranen, president and proposed CEO to commence work Cargotec Q1/24 results CARGOTEC Demerger and listing prospectus published 1 July 2024 Capital Markets Days Cargotec AGM to resolve on demerger and elect Kalmar Board Planned completion of demerger Planned first day of trading in Kalmar shares 15 *Subject to change#16Major strategic events in reshaping Cargotec since 2020 Evaluation of strategic options for Navis software business Announcement of planned Cargotec and Konecranes merger Successful completion of Navis divestment UK CMA blocks Cargotec and Konecranes merger Mar 2022 Feb 2020 Announcement of refocused strategy Kalmar's heavy port cranes' IPRs sold Mar 2022 New performance targets for core businesses announced Announcement of planned separation of Hiab and Kalmar Jul 2022 Demerger plan approved Oct 2020 Jul 2021 Aim to increase independence of core businesses Hiab and Kalmar Decision on MacGregor not being part of future portfolio Oct 2022 Nov 2022 Planned separation of Kalmar Looking for a solution for MacGregor & potential standalone Hiab Nov 2022 Apr 2023 Feb 2024 June 2024 Future CARGOTEC 16#17HIAB X-HIPRO 1058 Appendix CARGOTEC 1883 EFFER 17#18Kalmar KALMAR CARGOTEC ECOefficient 18#19Kalmar is in unique position to benefit from the growth prospects in electrification Development of historical financials MEUR Kalmar is the global leader in sustainable cargo handling for ports, terminals, distribution centres and heavy industry. 300 20.0% 13.6% 15.0% 200 7.8% 8.0% 8.3% 8.9% 9.4% 9.7% 7.6% 7.9% 10.0% Number of personnel 4,907 Sales MEUR 2,050 100 -4.1% 3.8% 5.0% 64 Service and software sales (% of sales) 0 Geographical sales split 57 130 135 133 144 162 116 119 189 279 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 0.0% Comparable EBIT Comparable EBIT-% 72% 2,500 28% 46% 2,063 2,081 40% 1,919 2,000 1,430 1,482 KALMAR 2,050 1,500 1.550 1,487 1,000 མ 1,764 1,7211 1,776- 2,050 1,705 1,555 1,943 1,663 1,700 1,723 1,598 1,618 1,401 1529 1,512- 1,428 1,302 1,012 1,049 1,024 500 877 896 799 805 786 842 13% 0 Service Equipment • EMEA APAC Americas 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 CARGOTEC Sales Orders received Order book 19#20SWALMAROTTHURTZE+ 20 20 Setting the standards in counterbalanced container handlers Most selling terminal tractor in North America Market leader in hybrid and electric shuttle & straddle carriers Global leader in Bromma spreaders Lifecycle services and parts for all customer segments A leading brand in mobile equipment, horizontal transportation and services KALMAR#21Ports & terminals Distribution Forestry Metal We are serving a large variety of customer segments around the world... Heavy logistics KALMAR 221 21#22After exiting loss making heavy cranes business, Kalmar is well diversified and profitable... Services share of sales¹ Sales by customer segment, management estimate² Other Geographical sales split¹ Global terminal operators APAC 13% Metal and forestry 29% Heavy logistics KALMAR SERVICES Sales MEUR 2,050 KALMAR Other ports and terminals AMER 46% Distribution FERCAM Average sales growth³ Comparable operating profit¹ 5% MEUR 279/13.6% Operating profit¹ MEUR 264/12.9% A2B-online RINNEN EMEA 40% Personnel 4,907 Management estimate, 2021 figures, new Kalmar = Kalmar excluding divested heavy cranes and Navis businesses CAGR, 2013-2023, management estimate, new Kalmar, excluding divestmen 2023 figures 22 BERTSCH#23...with steady growth supported by a robust replacement market and segment diversification MEUR 2,000 1,500 1,000 500 0 2013 2014 2015 2016 2017 New Kalmar sales KALMAR - 16% 12% Sales CAGR 2013-2023 +5% 71 8% 4% 0% 2018 2019 2020 2021 2022 2023 New Kalmar Comparable OP% *Figures management estimates 23#24..and have a leading market position in all core segments REACHSTACKERS AND ECH'S FORKLIFT TRUCKS TERMINAL TRACTORS BROMMA SPREADERS STRADDLE AND SHUTTLE CARRIERS MARKET SIZE* (EUR million) -900 KEY SEGMENTS GLOBAL POSITION & MEDIUM TERM MARKET TREND KEY COMPETITORS Ports & Terminals, Heavy Logistics #1 in Europe SANY HYSTER-YALE KONECRANES ~1,100 Heavy Logistics, Metal, Forestry, Ports & Terminals #1 in Europe* HY HYSTER-YALE TAYLOR KONEGRANES ~1,300 Distribution, Ports & Terminals #1 in US TERBERG TICO ZPMC ELME ~300 Ports & Terminals #1 globally FRAM SPREADERS -500 Ports & Terminals #1 globally KONECRANES ZPMC Ports & Terminals, Heavy Logistics, Metal, Forestry >25% parts capture rate TVHOL + Other equipment manufacturers SERVICES KALMAR Large *Medium and heavy forklift trucks 24#25Kalmar is the only global heavy material handling equipment supplier with a fully electric portfolio! KALMAR KALMAR KALMAR ECO 04 ECO EFFICIENCY IN ACTION 25#26Kalmar's focus is shifting from large terminals to medium and small terminals MEGA TERMINALS MEDIUM AND SMALL TERMINALS GM-% Medium service GM-% Low single digits potential Mid-double digits KALMAR High service potential 26 26#27Over 80% of global sea terminals are small or medium sized, driving demand for mobile equipment and horizontal transportation 2% (17) 15% (171) 11% 0% 11% (1) (51) (25) 25% 481 (118) 65% 53% (598) 1,125 54% 231 (311) 35% (125) (81) 30% (339) Mega (more than 5MTEU) Large (1MTEU-5MTEU) Medium (300KTEU-1MTEU) Small (less than 300KTEU) KALMAR Smaller terminal demand driven by changes in logistic chain, not only by global trade growth. 39% (162) 4% (16) 23% (94) 412 34% (140) 27 27#28Most of Europe's +500 intermodal terminals or depots operate with Mobile Equipment EU has ambition to increase share of rail freight from 18% to 30% by 2030. That would mean doubling the transport volumes on rail and higher utilisation of intermodal terminals and equipment Norwegian Sea Land freight 7% modal share 18% 2018-2030 KALMAR 7% 30% 75% 63% 2018 2030 Sources; SGKV, AGORA, CER, EuroStat, EU Commission, EAA Norway 100 0 Sweden Finland O Baltic Sea Estonia Latvia Closcow Москва Lithuania 0 Belarus darsaw Carsaw Ireland United Kingdon 000 North Sea Do Omarro Roland Lendon Netheraerli Portugal Madrid Lisbon Spain Gelgiang Paris France Czechi Slova Ukraine Moldova Hungaro 0 0 Romania Croatia Serbia Italy Rome Bungaria Tyrrhenian Sea Сгеция O 8 Black Sea Ankara Турция 28#290 The current replacement market size for the Kalmar equipment is EUR 2.5B€ annually and the market is expected to double in the next decade Total Capacity MTEU 1500 1000 500 e1995 e1997 e1999 KALMAR 2001 2003 Replacement after lifetime of equipment 2021 f2023 f2025 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: Straddle Carriers Shuttle Carriers Reachstackers } 8-10 years Empty Container Handlers Terminal Tractors 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. 2022-2026 forecast based on Drewry's Global container terminal operators report, published in Q3 2022 29 8 years#30Container throughput is estimated to continue to grow TEU million 987 961 1,000 933 906 Growth from 2013 to 2027 50% 858 862 871 145 141 804 CAGR 3.1% 785 801 136 132 748 130 130 126 +3.0% +2.8% 750 702 675 684 117 116 +2.9% 176 642 109 +0.5% +1.0% +4.0% 242 236 101 +2.4% -0.3% +7.0% 229 223 98 101 +4.9% 217 213 214 96 +6.6% 208 206 +2.6% 202 +5.1% +1.3% 195 500 182 182 185 173 250 511 519 531 550 567 584 601 467 479 480 444 373 395 401 416 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 AMER EMEA APAC CARGOTEC *Source: Drewry: Container forecaster, latest: Q2 2023 30 30#31We are seeing STRONG development in the Kalmar services 5 year parts sales CAGR*: 5% KALMAR Share of parts sold through e-commerce: Service sales are 1/3 of total Kalmar revenue Service OP growth is twice that of sales growth* Number of equipment under service contracts: >3700 Enabled by 1,300 Kalmar technicians in 35+ countries worldwide & an active installed base of >65,000 units globally. 45% *) Kalmar Services in Q3/22 LTM compared to 12/2017 - Compound annual growth rate (CAGR). 31#32Spare Parts will continue to grow in an Electric Future Share of electric units in Kalmar installed base 2021 2025 est 2030 est Parts potential index 100 Parts potential index 102.1 Parts potential index 99.6 Share of electric units in Kalmar installed base will grow over the decade. Parts potential to stay relatively unaffected during the time frame due to installed base size growth and long mechanical lifetime of our machines. KALMAR Electric units share Non-electric units share 32 of Kalmar installed base of Kalmar installed base#33KALMAR 11B Eco Portfolio orders are growing From wond Order split from Eco Portfolio 2023 (+4pp YoY) Order split 31% 40% from Electric Forklifts* From w to *) Light & Medium electric forklifts 2023 (-4 pp YoY) 33#34Strong interest in the new Kalmar Electric Reachstacker KALMAR efficient "The new Kalmar Electric Reachstacker will play a key role in helping us to achieve our target of zero emissions by 2030. Our investments in electrification, hybrid solutions and biodiesel will enable us to reduce our emissions by 56% in 2022. Kurt A. Ommundsen, CEO Westport Norway KALMAR 5 year total cost of ownership comparison 89% 100% 77% Eco reachstacker Gloria reachstacker Electric reachstacker (326 kWh battery) No charger included ECOEFFICIENCY 34#35Projected market demand for electric equipment in the next few years North America " Major regional differences (e.g. California) in legislation, subsidiaries and infrastructure readiness ■ Customers with ambitious climate targets Long ROI due to small cost gap between diesel and electricity ג Fast growth Moderate growth Slow growth KALMAR Europe " " High EV readiness in general High infrastructure maturity Sustainability targets Fast ROI due to big gap between diesel and electricity cost ^ South East Asia Low EV readiness ■ Low infrastructure readiness Long ROI due to small cost gap between diesel and electricity Greater China Medium EV readiness ■ Medium infrastructure readiness " Primarily non-premium equipment market Long ROI due to small cost gap between diesel and electricity 7 South America " Low EV readiness ■ Low infrastructure readiness Long ROI due to small cost gap between diesel and electricity Middle East & India ■ Low EV readiness ■Low infrastructure readiness ■Long ROI due to small cost gap between diesel and electricity -> SE Oceania High infrastructure readiness Legislative requirements increasing fast 35#36New Kalmar continues on the path of PROFITABLE GROWTH GROWING MARKETS Robust & growing equipment replacement market Increased customer demand for zero emission solutions FASTER THAN MARKET GROWTH ☐ Portfolio aimed at growing small/medium sized terminals Eco portfolio growth twice that of the traditional products SALES MARGIN IMPROVEMENT STEP CHANGE IN PRODUCTIVITY ■ Increasing service sales and operating margins Systematic spare parts capture rate increase Operational performance transformation program Lean implementation across the organization KALMAIC 111111 36#37KAMPEN Hiab CARGOTEC 37#38Hiab is a global market leader in on-road load handling solutions Hiab is the leading provider of smart and sustainable on-road load handling solutions with customers operating in logistics, construction and a variety of industries. Development of historical financials MEUR 300 200 20.0% 14.5% 13.5% 14.0% 14.1% 12.6% 13.0% 15.0% 11.7% 10.8% 11.6% 7.3% 10.0% Number of personnel 3,877 Service sales (% of sales) HIAB Sales MEUR 1,787 100 2.9% 5.0% 0 Geographical sales split 24- 61 101 140 157 134 170 127 162 221 252 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 0.0% Comparable EBIT Comparable EBIT-% 25% 39% 1,787 75% Service Equipment CARGOTEC 2,000 1,807 1,713 1,466 53% 1,500 1,116 869 909 967 1,016 1,259-1,310 1,350 1,787 1,210 1,578 1,000 500 1,036 1,084 1,149 928 841 840 453 264 305 286 300 230 1,250 1,094 503 985 1,185 406 799 8% 0 EMEA APAC Americas 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Sales Orders received Order book 38#39MULTI-BRAND STRATEGY WITH MARKET SEGMENT LEADING BRANDS OPTIMA 201 HICONNECT TRUCK M MOFFETT MIFFETT www HICONNECT HICONNECT Ο HIPERFORM DEMOUNTABLES TRUCK MOUNTED FORKLIFTS LOADER CRANES FORESTRY & RECYCLING TAIL LIFTS SERVICES MULTILIFT MOFFETT HIAB GALFAB PRINCETON EFFER LOGLIFT JONSERED ARGOS WALTCO DEL ZEPRO PROCARE HIPERFORM HIAB 39#40SERVING A LARGE VARIETY OF DIVERSE CUSTOMERS IN ESSENTIAL INDUSTRIES BOULEVA HOTEL Construction Retail & final mile SINGLE TRUCK OWNER Infrastructure Agriculture FLEETS Waste management Recycling Special logistics Rail RENTAL Forestry Defence Fire rescue Wind HIAB 40#41HIAB IS A GLOBAL MARKET LEADER IN ON-ROAD LOAD HANDLING SOLUTIONS Sales MEUR 1,787 Average sales growth¹ 7% Comparable operating Profit 252 MEUR/14.1% Operating profit MEUR 252/14.1% Services share of sales HIAB Sales by customer segment, management estimate² Other Defence 25% SERVICES Waste & recycling HIAB Road & Rail Personnel 3,877 Geographical sales split Construction AMER 39% Retail & Logistics 2022 figures 1) CAGR 2013-2023 2) 2021 figures APAC 8% EMEA 53%#42HIAB IS THE LEADER IN THE MARKETS WE OPERATE MARKET SIZE* (EUR million) DEMOUNTABLES -770 Waste & recycling, Defence #1 in World KEY SEGMENTS GLOBAL MARKET POSITION KEY COMPETITORS ME KIPPERER PALFINGER FORESTRY & RECYCLING CRANES -615 Forestry, Waste & recycling EPSILON PALFINGER #2 in world Cranab LOADER CRANES ~1,700 Construction, Logistics #1-2 in the world PALFINGER FASSI MAXON TAIL LIFTS ~1,200 Retail, Last mile #2 in US #1 in Nordics DHOLLANDIA TOMMY GATE TRUCK MOUNTED FORKLIFTS ~315 Last mile, Logistics, construction #1 globally TERBERG KINGLIFTER SERVICES HIAB Hiab Installed base All 170,000 units >45% capture rate 42#43OUR UNDERLYING MARKET HAS GROWN +3% CAGR 2013-2021 WITH A SIGNIFICANT DIP OF 6% IN 2014-2016... HIAB Nominal segment growth (indexed to 100 in 2018), bars 130 +3% +26% 120 110 100 -6% 90 80 70 60 50 91 40 44 94 89 88 44 122 116 100 100 97 94 30 20 10 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Source: IHS Markit 43#44...WHILE WE HAVE PROVEN TRACK-RECORD BY GROWING TWICE THE MARKET GROWTH AND SUSTAINING HIGH PROFITABILITY DURING DOWNTURNS Sales, EUR million €2.000M €1500M Comparable operating profit % 20% +44% +17% 14,5% 13,5% 14,0% 15% 12,6% 13,0% 11,7% 11,6% 10,8% 7,4% 10% €1.000M 3,0% 5% 1,578 1,350 0% 1,250 €500M 1,035 1,083 1,148 1,094 872 884 913 ЄOM 2013 Source: Cargotec reported financials 2011-2022 -5% -10% 2014 2015 2016 2017 2018 2019 2020 2021 2022 Underperforming business Turnaround Growth strategy Covid CHIAB Acquisitions ARGOS EFFER Galfab 44#45HIAB SERVICES RESILIENT PROFITABLE GROWTH Non-recurring services 18% SHIA HAB Recurring services 82% CAGR Recurring services 13% 2020 Q3/2022 LTM HiConnect connected equipment 24.000< eCommerce CAGR 2020-2022 YTD 26% Operating leverage 2020-2022 30%< 45#46Up to 10% More Up to 15% longer outreach lifts per day lighter Sustainability Uptime & reliability ePTO and ready for electric trucks Remote monitoring and diagnostics HIAB X-HIPRO 1058 Easiest to operate New SPACEevo control system HIAB SETTING THE INDUSTRY STANDARD 46#47LOADER CRANES POSSESS GREAT POTENTIAL FOR FURTHER GROWTH AS CUSTOMERS REQUIRE MORE FLEXIBLE SOLUTIONS Roofing SCANIA CHIAB HIQD R490 X-HIPRO JID 1304 2 CHIAR BUILT TO PERFORM Waste & recycling Landscaping Building materials 47#48ECO PORTFOLIO 31% OF TOTAL ORDERS IN 2023 ELECTRIC MOFFETTS ePTO The first electric truck mounted forklifts in the world Enabling crane operation without running truck engine running truc er electric Power Take-Off CYCLONE TANK Reduces weight and fuel consumption ECO PORTFOLIO GROWTH +15pp (orders received y-on-y) Reducing operation emissions by 10% Carbon-free tail lift operation VARIABLE HYDRAULIC PUMPS HIAB SOLAR CHARGING Extending the life cycle REFURBISHED EQUIPMENT 48#49STRONG FOUNDATION TO DELIVER LONG TERM GROWTH AND VALUE CREATION Great business with STRONG BRANDS Expanded presence in ATTRACTIVE, FAST GROWING MARKETS and SEGMENTS Strengthening our resilience and customer centricity through SERVICE EXCELLENCE Building foundation for EXECUTION EXCELLENCE Setting industry standard in SAFETY, PRODUCTIVITY and SUSTAINABILITY Investing in long-term profitable growth THROUGH INNOVATIONS AND M&A HIAB HOME PRIE Sce 49#50MacGregor CARGOTEC 144 50#51MacGregor is a world-leading provider of intelligent maritime cargo and load handling solutions MacGregor is the leader in sustainable maritime cargo and load handling with a strong portfolio of products, services and solutions. Development of historical financials MEUR 100 Number of personnel 1,853 Service sales (% of sales) 52% 48% Э MACGREGOR Service ⚫ Equipment CARGOTEC 12.0% 7.9% 10.0% 5.2% 8.0% 4.5% 50 6.0% 63 54 2.6% 2.3% 1.9% 4.0% 30 33 18- -0.3% -0.7% 2.0% 0 -28 -4.6% -26 0.0% -4.7% -47 -2.0% -4.0% -8.3% -6.0% -8.0% -10.0% Sales MEUR 733 -50 -100 Geographical sales split 9% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Comparable EBIT Comparable EBIT-% 2,000 40% 1,500 1,131 980 733 883 927 988 1,000 587 633 481 530 560 480 51% 500 1,011- 1,210 976 828 816 546 521 580 630 652 511 794 1,034 1,139 778 571 538 611 642 553 569 733 0 EMEA APAC Americas *2022 figures 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Sales Orders received Order book ** defiinition changed 2021, figures 2020 onwards according to the new definition 51#52Merchant Ships and Offshore contracting outlook positive Long term contracting 2020 - 2029 Merchant ships > 2000 gt excl ofs and misc Long term contracting 2020-2029 Mobile offshore units 2,500 2,000 Historical avg 1,500- 1,000 500 0 Avg. 96-22 2020 Forecast 100 300 200 Avg. 2012-2022 400 Historical avg Forecast Environmental regulation with accelerating energy efficiency requirement drives merchant ships contracting. CARGOTEC Source: Clarksons Research, updated 10/2023 Energy transition and increased energy security requirement drive mobile offshore unit contracting. 52 62#53Examples of MacGregor offering Intelligent solutions GOD RoRo equipment HOEGH AUTOLINERS Hatch covers, container lashings Services Colibri cranes Horizon Gangways Electric cranes CARGOTEC 1672 53#54KALMAR Recent performance CARGOTEC 2 KALMAR 54#55Highlights of 2023 - Step change in profitability Orders received decreased by 18% to EUR 3,987 million Decline from a record level Sales increased by 12% to EUR 4,569 million Eco portfolio increased by 18% Service sales increased by 9% Comparable operating profit increased by 62% to EUR 513 million Kalmar +90 MEUR Hiab +31 MEUR MacGregor +80 MEUR CARGOTEC * The comparable operating profit definition changed in 2023, figures in the comparison period have been restated. 7.7% 7.2% 6.9% 7.0% 316 264 232 2019 2020 2021 Comparable operating profit, % 2022 11.2% 513 2023 Comparable operating profit, MEUR Cargotec's Financial Statements Review 2023 | 1 February 2024 55#56Orders received at pre-covid level, increase from the third quarter Orders received MEUR 4,862 -18% 4,427 (y/y) 1,190 -15% 976 3,987 (y/y) 1,059 3,714 652 999 1,015 -16% 269 914 630 3,121 816 (y/y) 208 187 -22% 209 211 (y/y) 511 1,713 1,807 377 1,310 -19% 1,466 380 375 311 +6% 401 1,210 (y/y) (y/y) -18% 544 471 437 392 -26% 1,776 2,063 2,081 (y/y) 1,705 405 1,401 (y/y) Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 2019 2020 2021 2022 2023 MacGregor Hiab Kalmar CARGOTEC Cargotec's Financial Statements Review 2023 | 1 February 2024 56#57Order book of EUR 2.8 billion gives a good starting point for 2024 Order book -21% 3,596 3,732 3,541 MEUR 3,467 (y/y) 3,242 3,151 3,065 2,847 2,606 2,696 1,995 2,145 2,072 2,251 2,217 2,089 1,938 1,822 1,824 1,751 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 2,812 Q2/20 +7% Q3/20 MacGregor Q4/20 Hiab CARGOTEC *Kalmar excluding heavy cranes business which will be discontinued and divested Navis software business Cargotec's Financial Statements Review 2023 | 1 February 2024 (y/y) Q1/21 Q2/21 Q3/21 -33% Q4/21 Kalmar* Q1/22 (y/y) Q2/22 Q3/22 Kalmar heavy cranes and Navis Q4/22 -28% Q1/23 Q2/23 (y/y) Q3/23 Q4/23 44 57#58Comparable operating profit increased despite one-off cost related to cost saving actions Sales Comparable operating profit* MEUR MEUR 1,239 1,200 1,193 160 165 1,074 1,102 140 164 234 157 179 120 112 158 131 111 100 456 485 85 80 69 67 432 420 450 60 40 48 20 48 13 618 552 485 503 509 0 -20 -40 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 MacGregor CARGOTEC Hiab Kalmar Cargotec Kalmar Hiab MacGregor Cargotec including corporate admin and support The comparable operating profit definition changed in 2023, figures in the comparison period have been restated. Cargotec's Financial Statements Review 2023 | 1 February 2024 58#59Service sales and orders increased from 2022 1,379 Service orders received 1,264 354 355 346 344 334 +3% in 2023 -4% in Q4/23 Service sales +9% in 2023 +0% in Q4/23 345 362 1.286 1,331 326 312 331 Service share 30% of total sales Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Service sales, MEUR Service orders received, MEUR CARGOTEC 2022 2023 Cargotec's Financial Statements Review 2023 | 1 February 2024 59#60Eco portfolio sales increased to a record level Eco portfolio sales +18% in 2023 33% 32% 32% 33% 33% 34% 31% solutions and in circular solutions 1,515 392 397 404 346 367 1,288 • Increase in climate . Increase in all business areas Eco portfolio share 33% of Cargotec's total sales in 2023 Eco portfolio sales +3% in Q4/23 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Eco portfolio share of sales Eco portfolio sales, MEUR CARGOTEC Q2/23 Eco portfolio sales has been revised Cargotec's Financial Statements Review 2023 | 1 February 2024 2022 2023 60 60#61In October, we announced cost saving actions to safeguard profitability and to emerge stronger... Continuous profitability improvements, continued R&D investment and service business growth Scenario planning actions Fixed cost saving actions to target 50 MEUR annual savings in 2024 in Cargotec group, Kalmar and Hiab Funding the growth journey Solving customers' sustainability challenges with high quality and innovative solutions Safeguard profitability Above 10% comparable operating profit in core businesses Emerge stronger and more resilient Committed to sustainability and profitable growth CARGOTEC Cargotec's Financial Statements Review 2023 | 1 February 2024 61#62...and we have progressed according to the plan Fixed cost saving actions to target 50 MEUR annual savings in 2024 ■ 10 MEUR in the group functions Scenario planning actions MacGregor turnaround ☐ 20 MEUR in Kalmar 20 MEUR in Hiab 50% of the saving would be achieved from reduction of ~300 roles Estimated one-off costs 20 MEUR ☐ Costs would be booked above comparable operating profit 15 MEUR booked already in Q4/23, remaining part in 2024 Restructuring of MacGregor's offshore business to target 23 MEUR annual savings 14 MEUR realised in 2023, additional 9 MEUR in 2024 Reduction of ~350 roles in 2023 Restructuring costs of 13.5 MEUR in 2023 CARGOTEC Cargotec's Financial Statements Review 2023 | 1 February 2024 62#63Business areas CARGOTEC 63#64Hiab Q4/23 Order intake improved vs prior year MOFFETT HIRB • Stable demand and sales Operating profit impacted by one-off costs Cash flow increased substantially 64#65Stable order intake fifth quarter in a row Orders received and order book MEUR Q4/23 Q4/22 Change MEUR Orders received 401 377 6% 1,185 1,121 1,007 Order book 799 1,185 -33% 900 799 377 380 375 311 401 Q4/22 Q1/23 Q2/23 Orders received Q3/23 Order book Q4/23 HIAB Inflation and interest rates are negatively impacting orders received but truck lead times are improving • Order book remains above historical average Cargotec's financial statements review 2023 | 1 February 2024 65 59#66Equipment and service sales stable Sales and Service sales MEUR Q4/23 Q4/22 Change MEUR 485 Sales 450 456 -1% 456 450 432 420 Service sales 114 113 0% Service sales, % 25% 25% 0 bps 25% 26% 27% 23% 25% 113 112 113 113 114 Q4/22 Q1/23 Q2/23 Q3/23 Sales Service sales Q4/23 Service sales, % HIAB • Strong operational execution Service sales flat • Supply chain continues to improve with a strong focus on supplier development Cargotec's financial statements review 2023 | 1 February 2024 66 99#67Operating profit declined due to one off costs 14.2% Comparable operating profit MEUR 16.8% excluding one-off items MEUR Q4/23 Q4/22 Change 14.2% 14.7% 13.5% Comparable operating profit 48 62 -22% Comparable operating 10.6% 10.6% 13.5% -290 bps profit margin 81 229 62 61 62 48 Q4/22 Q1/23 Q2/23 Q3/23 Comparable operating profit margin Comparable operating profit Q4/23 HIAB The comparable operating profit definition changed in 2023, figures in the comparison period have been restated. ⚫ EUR 10 million restructuring cost in line. with Q3 announcement EUR 6 million in investments in growth Cargotec's financial statements review 2023 | 1 February 2024 19 67#68Eco portfolio orders and solutions are growing Order split from Eco Portfolio 2023 (+15pp YoY) AA 31% SERIES +34pp YoY Increase in connected units CHIAB 0 CHIAB Cargotec's Financial Statements Review 2023 | 1 February 2024 HIAB Wspr Standard INCREASED HEALTH AND SAFETY ✓ Lower noise ✓ Lower emissions ✓ Less fatigue GREAT DRIVEABILITY AND FLEXIBILITY Increased driveability and operator experience ✓ Hybrid flexibility when needed EXTENDED OPERATING AREA ✓ Emission free zones Indoor and tunnel operations LOWER OPERATING COSTS*** ✓ Lower energy costs ✓ Higher efficiency EXTENDED OPERATING WINDOW Night time deliveries ✓ Start earlier or ending later LOWER CO, EMISSIONS* Reduced carbon footprint** 68#69CMA CGM eco conta benboo & OOCL seaco seaco EVERGREEN Kalmar Q4/23 boo for EVERGREEN Strong finish for a EEN record year Lloya CRONOS CMA CGM eco container bamboo flooring 45 iner coring CMA CGM BEEN EVERGREE OOCL KALMAR 45 CMA CGM 45 45 15 seaco Demand stabilising ZIM Successful delivery of order book Continued high profitability Cash flow increased substantially 中国海 BEACON#70Demand stabilising, sequential improvement in orders received Orders received and order book MEUR Q4/23 Q4/22 Change MEUR Orders received 405 544 -26% 1,428 1,390 1,281 Order book 1,024 1,428 -28% 1,172 1,024 544 471 437 392 405 Q4/22 Q1/23 Q2/23 Orders received Q3/23 Order book Q4/23 KALMAR • Continued good demand in mobile equipment used in industries and small- and midsized terminals Slow decision making in orders of larger equipment • Destocking in distribution customer segment Order book gives good visibility for H1 sales Cargotec's financial statements review 2023 | 1 February 2024 70#71Slower market activity visible in sales Sales and Service sales MEUR MEUR Sales 618 552 Service sales 485 503 509 Service sales, % 24% 30% 26% 27% 29% 150 147 143 137 147 Q4/22 Q1/23 Q2/23 Q3/23 Sales Service sales Q4/23 Service sales, % KALMAR Q4/23 Q4/22 Change 509 618 -18% 147 150 -2% 29% 24% 500 bps Lower order intake visible in sales Successful delivery of order book Service sales grew in constant currencies Cargotec's financial statements review 2023 | 1 February 2024 71#72Improved profitability driven by successful management of inflationary pressures Comparable operating profit 14.1% excluding one-off costs related to MEUR Q4/23 Q4/22 Change cost savings MEUR 14.2% 14.1% Comparable operating profit 67 69 -4% 13.0% 13.1% 11.2% Comparable operating profit margin 13.1% 11.2% 190 bps 78 69 71 63 33 67 Q4/22 Q1/23 Q2/23 Q3/23 Comparable operating profit margin Comparable operating profit KALMAR Q4/23 Favourable sales mix Successful management of inflationary pressures and component availability • Heavy cranes losses reduced One-off costs related to cost savings had EUR 5 million impact on comparable operating profit Cargotec's financial statements review 2023 | 1 February 2024 72#73Multiple milestones achieved in portfolio electrification in 2023 Successful commercial deliveries started for Electric Reachstacker and Heavy Forklift including first repeat order Third of light and medium forklift orders in 2023 in electric versions Eco portfolio sales and share of sales increased from 2022 Lonestar electric terminal tractor acquisition completed Third generation electric terminal tractor development progressing KALMAR EKALMA electric GIRLMAR ccclic KALMAR Cargotec's financial statements review 2023 | 1 February 2024 73#74- MacGregor Q4 – Turnaround continued to progress according to the plan Orders received decreased . Good demand in merchant and services . Selective order intake in offshore 2.4M MEUR Q4/23 Q4/22 Change Orders received 209 269 -22% Sales increased by 42% Order book 988 927 7% • Service sales +4% Comparable operating profit increased Higher sales in merchant and services businesses Sales 234 165 42% -1500 Service sales, % 40% 55% bps Comparable . Lower fixed costs supported by 13 -34 >100% operating profit* . restructuring Significant negative one-off in offshore in the comparison period Still challenges related to a few historical profit margin offshore projects Comparable operating 5.6% -20.7% 2630 bps CARGOTEC The comparable operating profit definition changed in 2023, figures in the comparison period have been restated. NO SMOKING 20 KM/H Cargotec's Financial Statements Review 2023 | 1 February 2024 74#75ON DPUDRL Financials and outlook S TV 263367 REEN 900 CARGOTEC 75#76Outlook for 2024 Cargotec estimates1: Hiab's comparable operating profit margin in 2024 to be above 12% Kalmar's comparable operating profit margin in 2024 to be above 11% MacGregor's comparable operating profit in 2024 to improve from 2023 (EUR 33 million) 1) The business area 2024 profitability outlook is presented using the same principles which are applied in the 2023 external financial reporting. CARGOTEC B ECO efficient $2-40'1 ECA Cargotec's Financial Statements Review 2023 | 1 February 2024 76#77Financial highlights 484 MEUR Operating profit in 2023 544 MEUR Cash flow from operations in 2023 CARGOTEC 1,515 MEUR Eco portfolio sales in 2023 12.8% Core businesses* comparable operating profit margin in 2023 19.9% ROCE (last 12 months) .*Core businesses = Hiab + Kalmar excluding heavy port cranes & divested Navis business, management estimate Cargotec's Financial Statements Review 2023 | 1 February 2024 77#78Key financial figures Q4/23 Q4/22 Change 2023 2022 Change Orders received, MEUR 1,015 1,190 -15% 3,987 4,862 -18% Order book, MEUR 2,812 3,541 -21% 2,812 3,541 -21% Sales, MEUR 1,193 1,239 -4% 4,569 4,089 12% Comparable operating profit, MEUR 111 85 31% 513 316 62% Comparable operating profit, % 9.3% 6.8% 250bps 11.2% 7.7% 350bps Items affecting comparability, MEUR -22 -114 81% -30 -210 86% Operating profit, MEUR 89 -29 >100% 484 106 >100% Operating profit, % 7.5% -2.3% 980bps 10.6% 2.6% 800bps Profit for period, MEUR 61 -68 >100% 349 23 >100% Basic earnings per share, EUR 0.92 -1.04 >100% 5.38 0.37 >100% Earnings per share, EUR* 1.36 0.96 42% 5.90 3.19 85% ROCE, %** 19.9% 4.6% 1530bps 19.9% 4.6% 1530bps CARGOTEC The comparable operating profit definition changed in 2023, figures in the comparison period have been restated. *) Excluding items affecting comparability and adjusted with related tax effect **) ROCE (return on capital employed), last 12 months Cargotec's Financial Statements Review 2023 | 1 February 2024 78#79Strong cash flow in Q4 driven by high EBITDA and reduction in net working capital Cash flow from operations before financing items and taxes MEUR 00 60 38 38 116 147 26 41 184 292 -70 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 CARGOTEC Cargotec's Financial Statements Review 2023 | 1 February 2024 79#80Strong balance sheet and balanced maturity profile Net debt & gearing MEUR Maturity profile, 31 December 2023 Interest-bearing net debt / EBITDA 0.3 323 257 32% 25% 26% 24% 159 503 10% 378 393 406 179 Q4/22 Q1/23 Q2/23 Gearing-% CARGOTEC Q3/23 Q4/23 2024 2025 Net debt Other interest bearing liabilities Corporate bonds and loans from financial institutions 68 48 13 2026 2027 2028 Later Lease liabilities Cargotec's Financial Statements Review 2023 | 1 February 2024 80#81Cargotec's Board of Directors proposes a record dividend of 2.15 EUR per class B share Dividend, EPS & Payout ratio EUR 5.00 4.00 3.00 -51% 49% 66% 86% >100% >100% 2.15 40% 100% 80% 60% Cargotec's Board of Directors' dividend proposal for the AGM 30 May 2024: О Dividend of 2.15 per class B share O Record date 3 June 2024 。 Payment date 10 June 2024 Cargotec aims for growing dividend of 30-50% of EPS 36% 28% 2.00 0.95 1.05 1.10 1.20 1.08 1.08 1.35 0.80 1.00 40% 20% 2.21 1.95 2.05 1.66 1.39 0.13 3.82 0.37 5.38 0.00 0% 2015 2016 2017 2018 2019 2020 2021 2022 2023 EPS (reported) Dividend Payout ratio CARGOTEC Cargotec's Financial Statements Review 2023 | 1 February 2024 81#82Gross profit development MEUR 1,250 1,000 40.0% 26.2% 30.0% 24.6% 24.0% 23.7% 24.2% 22.3% 22.1% 750 21.1% 21.0% 18.3% 18.9% 500 250 20.0% 10.0% 583 634 787 840 852 814 873 728 733 858 1015 0 0.0% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Gross profit, MEUR Gross profit-% CARGOTEC 82#83Net working capital development MEUR 400 300 200 100 186 151 57 115 271 158 107 184 286 329 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 CARGOTEC 83#84Record cash flow in 2023 MEUR 600 400 200 Cash flow from operations before financing items and taxes 191 204 315 373 253 126 361 296 169 231 544 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 CARGOTEC 84#85Solid cash conversion* in core businesses over the cycle 400% 300% 200% 100% 0% -100% -200% -300% -400% -500% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Core business cash conversion Non-core business cash conversion CARGOTEC *) Operative Cash flow divided by Operating Profi Core businesses = Hiab & Kalmar excluding heavy cranes and Navis 85#86Income statement Q4 2023 MEUR Sales Cost of goods sold Gross profit CARGOTEC Note Q4/23 Q4/22 2023 2022 5 1,193.4 1,238.5 4,568.8 4,088.6 -909.6 -996.4 -3,463.5 -3,230.5 283.8 242.1 1,105.3 858.1 Gross profit, % 23.8% 19.5% 24.2% 21.0% Selling and marketing expenses -58.9 -52.9 -213.5 -199.9 Research and development expenses -29.6 -28.0 -98.3 -99.8 Administration expenses -93.8 -85.6 -309.4 -279.7 Restructuring costs 7 -6.7 -36.1 -14.6 -91.3 Other operating income 9.3 11.8 39.9 51.9 Other operating expenses -19.6 -82.0 -36.7 -140.2 Share of associated companies' and joint ventures' net result 4.5 2.0 11.1 7.0 Operating profit 89.0 -28.8 483.8 106.1 Operating profit, % Finance income Finance expenses 7.5% -2.3% 10.6% 2.6% 4.5 1.6 12.0 4.4 -11.6 -13.4 -42.8 -31.6 Profit before taxes 81.9 -40.6 453.0 79.0 Profit before taxes, % Income taxes 6.9% -3.3% 9.9% 1.9% 9 -20.6 -27.0 -104.3 -55.8 Profit for the period 61.3 -67.6 348.7 23.2 Profit for the period, % 5.1% -5.5% 7.6% 0.6% Profit for the period attributable to: Shareholders of the parent company 59.2 -67.3 346.9 23.9 Non-controlling interest 2.1 -0.3 1.8 -0.7 Total 61.3 -67.6 348.7 23.2 Earnings per share for profit attributable to the shareholders of the parent company: Basic earnings per share, EUR 0.92 -1.04 5.38 0.37 Diluted earnings per share, EUR 0.93 -1.04 5.37 0.37 86#87Note Balance sheet 31 December 2023 ASSETS, MEUR Non-current assets Goodwill Intangible assets Property, plant and equipment 31 Dec 2023 31 Dec 2022 EQUITY AND LIABILITIES, MEUR Note 31 Dec 2023 31 Dec 2022 Equity attributable to the shareholders of the parent company 878.1 892.1 Share capital 64.3 64.3 118.4 124.8 Share premium 98.0 98.0 444.9 420.0 Translation differences -56.4 -34.0 Investments in associated companies and joint ventures Fair value reserves -2.5 -3.5 16 76.6 74.6 Reserve for invested unrestricted equity 35.3 52.8 Share investments 16 0.0 0.0 Retained earnings 1,613.6 1,350.0 Loans receivable and other interest-bearing Total equity attributable to the shareholders of the parent company 1,752.3 1,527.6 assets 11 0.1 4.5 Deferred tax assets 122.2 128.6 Non-controlling interest Derivative assets 12 1.1 Total equity 1.5 1,753.8 0.7 1,528.3 Other non-interest-bearing assets 5.8 7.2 Non-current liabilities Total non-current assets 1,646.0 1,652.9 Interest-bearing liabilities" Deferred tax liabilities Current assets Pension obligations Inventories 1,033.8 1,013.3 Provisions Other non-interest-bearing liabilities Loans receivable and other interest-bearing assets* 11 3.4 2.8 Total non-current liabilities 11 708.2 750.9 21.9 30.6 89.0 82.2 5.6 6.4 87.1 74.8 911.8 944.9 Income tax receivables 18.5 39.0 Current liabilities Derivative assets 12 54.0 39.5 Accounts receivable 723.8 734.7 Current portion of interest-bearing liabilities* Other interest-bearing liabilities* 11 142.9 74.9 11 15.6 11.7 Contract assets 47.3 104.0 Provisions 154.9 176.2 Other non-interest-bearing assets 164.9 151.2 Income tax payables 54.3 52.9 Derivative liabilities 12 26.0 7.4 Cash and cash equivalents* 11 684.7 451.9 Accounts Payable 511.2 617.1 Total current assets 2,730.4 2,536.4 Contract liabilities 374.5 291.1 Other non-interest-bearing liabilities 431.5 484.8 Total assets *Included in interest-bearing net debt. CARGOTEC 4,376.5 4,189.3 Total current liabilities 1,710.9 1,716.1 Total equity and liabilities 4,376.5 4,189.3 *Included in interest-bearing net debt. The notes are an integral part of the financial statements review. 87#88Cash flow statement Q4 2023 MEUR Note Q4/23 Q4/22 2023 2022 MEUR Note Q4/23 Q4/22 2023 2022 Net cash flow from operating activities Net cash flow from financing activities Profit for the period 61.3 -67.6 348.7 23.2 Depreciation, amortisation and impairment 8 28.7 115.3 114.9 203.9 Treasury shares acquired -17.5 -1.2 Finance income and expenses 7.1 11.8 30.8 27.2 Income taxes 9 20.6 27.0 104.3 55.8 Repayments of lease liabilities Proceeds from long-term borrowings -12.7 -11.0 -46.9 -43.1 50.9 50.9 Repayments of long-term borrowings -38.2 -87.5 -38.2 -87.5 Change in non-interest bearing receivables 102.9 -21.6 35.8 Change in non-interest bearing liabilities -38.7 41.1 -50.5 -112.6 283.21 Proceeds from short-term borrowings -2.3 -2.5 10.6 Change in inventories 110.7 49.3 -31.8 -238.9 Repayments of short-term borrowings -3.9 -1.1 -3.9 -3.3 Change in net working capital 174.9 68.8 -46.5 -68.3 Dividends paid -87.3 -70.4 Other adjustments -0.4 -8.1 -8.0 -10.6 Cash flow from operations before Net cash flow from financing activities -6.2 -102.1 -132.1 -205.5 finance items and taxes 292.1 147.2 Interest received 4.4 1.5 544.2 11.9 231.2 4.3 Interest paid -7.4 -4.7 -25.3 -19.4 Change in cash and cash equivalents 232.0 27.3 242.0 -39.0 Dividends received Other finance items 0.2 -29.4 -10.1 -10.1 -6.7 Cash and cash equivalents, and bank Income taxes paid Net cash flow from operating activities -11.6 -7.8 -84.7 -49.2 overdrafts at the beginning of period 447.5 430.0 445.4 488.2 248.1 126.2 435.9 160.4 Effect of exchange rate changes 1.4 -12.0 -6.6 -3.8 Net cash flow from investing activities Cash and cash equivalents, and bank overdrafts at the end of period 680.8 445.4 680.8 445.4 Acquisitions of businesses, net of cash acquired. 15 -0.5 -0.1 -25.7 -0.1 Disposals of businesses, net of cash sold Bank overdrafts at the end of period 3.8 6.5 3.8 6.5 15 4.0 0.9 11.1 15.1 Investments in associated companies and joint ventures 16 -0.9 Cash and cash equivalents at the end of period 684.7 451.9 684.7 451.9 Investments in intangible assets and property, plant and equipment -21.9 -19.7 -81.1 -66.2 Disposals of intangible assets and property, plant and equipment 9.7 10.5 31.6 25.3 Cash flow from investing activities, other items -1.2 11.7 2.4 32.8 88 Net cash flow from investing activities -10.0 3.3 -61.8 6.1#89Service business continues to grow Service sales MEUR 2,000 5% CAGR 40% 32% 31% 31% 30% 30% 29% 29% 1,500 30% 25% 25% 26% 24% 1,000 20% 1,379 1,264 500 931 905 938 980 1,062 1,005 1,076 10% 847 766 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 CARGOTEC MOFFETT E4 Powered By Lithium-on 0% 89#90Cargotec's performance targets for its core businesses Eco portfolio: double sales growth compared to traditional products Sales growth faster than market¹1 Reduce CO2 emissions in our value chain² 2025: -25% Comparable operating profit 2030: -50% 2025: 12% CARGOTEC Growing dividend 30-50% EPS 2030: 15% Gearing below 50% 1) Global GDP, IMF World economic outlook, current prices 2) Scopes 1,2 & 3, compared to 2019 3) Core businesses = Hiab and Kalmar 90#91Examples of recent acquisitions and partnerships GALFAB A premier designer and manufacturer of waste handling equipment EFFER Global leader in the heavy cranes segment Olsbergs a Hiab company Industry-leading hydraulic and remote system designer & manufacturer United States Acquired in 2021 BA: Hiab Sales in 2021: USD 30 million Italy Acquired in 2018 BA: Hiab Sales in 2018: EUR 97 million Sweden Acquired in 2022 BA: Hiab Headcount in 2022: ~100 employees Added roll-off hoist, a cable lift, to Hiab's portfolio Acquisition enables growth in the US and in the waste segment Complemented Hiab's loader cranes portfolio and expanded the offering in heavy cranes Acquisition strengthened Hiab's position in Effer's core market areas Further accelerates the development of integrated design solutions of our loader cranes. Olsbergs' competence in valve and remote control technology strengthens our technology leadership. CARGOTEC 91#92We have multiple organic and inorganic growth opportunities GROWTH FOCUS Strengthening our portfolio and filling white spots in the offering Eco portfolio New services related to our core offerings New applications for our products Enter new developing markets Seek to grow in adjacent segments CARGOTEC ORGANIC M&A PORTFOLIO CRITERIA Market Adjacent to core businesses Growing Niche Business а Recurring Equipment business High Service technology potential Attractive market position Capability to fill the performance targets 92#93Sustainability as a growth driver CARGOTEC ECO efficient KALMAR OTTAWA T2E+ 93#94We aim for the highest ESG standards in our industry. Profitable growth through sustainability SOLUTIONS AND ACTIONS THAT DRIVE A CIRCULAR, 1.5°C WORLD ENVIRONMENT CARGOTEC SOCIAL HUMAN RIGHTS HEALTH & SAFETY DIVERSITY, EQUITY & INCLUSION SUSTAINABLE ° GOVERNANCE SUSTAINABLE FINANCE RESPONSIBLE SOURCING & SALES BUSINESS FRAMEWORK 94#95Intelligent cargo handling is the solution to cut CO2 emissions in our value chain by 50% Product use-phase Scopes 1, 2 and 3: -50% Examples of the solutions Product use-phase › Replacing fossil fuels as an energy source Product manufacturing > Fossil-free steel Carbon neutrality in own operations Product manufacturing > Renewable energy 1.5 °C scenario Product use-phase Product manufacturing 2030 CARGOTEC 2019 95#96CLIMATE CHANGE HOW WE WILL GET THERE: OUR PLAN Progress so far >>>>>> 2025 2030 Developed climate roadmap. Examples of actions include: Kalmar fully electric product offering Hiab ePTO and eMOFFETT offerings MULTILIFT pilot with SSAB Hudiksvall site net zero Further develop eco offering, improve energy efficiency Transform the market towards low-carbon solutions Explore opportunities in low-carbon steel Grow the share of renewable energy Eco offering generates the majority of sales Increase the share of fossil-free steel Become carbon neutral in own operations CARGOTEC 96#97CLIMATE CHANGE CARGOTEC'S CARBON FOOTPRINT 2023 PURCHASED GOODS* Scope 3 upstream 32% OWN OPERATIONS Scopes 1 & 2 1% 00 88 USE OF SOLD PRODUCTS Scope 3 downstream 64% Steel structures 58% 42% Other Diesel consumption Electricity consumption Other Kalmar Hiab MacGregor 39% 30% 31% 71% 22% 7%#98A life cycle assessment calculates the environmental impacts of a product Life cycle assessment (LCA) is a methodology for quantitatively assessing climate and other environmental impacts throughout the life cycle of a product, process, or service. End-of-life Disposal or recycling Product use Repair and maintenance 40 04 CARGOTEC 03 05 Raw material extraction 01 Distribution -0 02 Manufacturing Our LCAs are based on the internationally recognised ISO 14067 standard. 98#99All our eco portfolio equipment have third-party reviewed LCAs in place Life-cycle greenhouse gas savings of Straddle Carrier FSC -52% and HSC -24% tCO2e 4000 3000 2000 1000 0 ESC HSC FSC End of Life Use phase Product manufacturing CARGETEC ESC: diesel-electric; HSC: hybrid; FSC: fast-charge electric 99#100Validated actions in creating a positive societal impact Rating Scale Score Year CARGOTEC CARGOTEC CDP D- to A A- 2022 INDUSTRY AVERAGE INDUSTRY AVERAGE Ecovadis Bronze, Silver, Gold, Gold 2022 Platinum MSCI ESG RATINGS GOLD 2022 ecovadis Sustainability Rating ISS ESG D- to A+ C+ 2022 MSCI ESG CCC to AAA AA 2022 8 DECENT WORK AND ECONOMIC GROWTH 9 INDUSTRY, INNOVATION AND INFRASTRUCTURE 12 RESPONSIBLE CONSUMPTION M CARGOTEC AND PRODUCTION 13 CLIMATE ACTION 16 PEACE, JUSTICE AND STRONG INSTITUTIONS 17 CARGOTEC PARTNERSHIPS FOR THE GOALS CARGOTEC INDUSTRY AVERAGE INDUSTRY AVERAGE ISS ESG CDP DISCLOSURE INSIGHT ACTION 100#101Our eco portfolio has two main tasks Our eco portfolio helps us grow by solving customers' sustainability challenges. It has two tasks: reduce emissions and drive growth. Reduce emissions Drive growth The eco portfolio includes two categories of solutions: CLIMATE CIRCULAR SOLUTIONS SOLUTIONS Low and zero-emission equipment & software that enables the equipment's emission saving Services and spare parts that keep the equipment in operation for longer SERVICE The portfolio's climate solutions are aligned with the EU Taxonomy (considered sustainable in the eyes of the regulation). CARGOTEC 101#102Cargotec reports eco portfolio sales on quarterly basis 40% 1,600 33% 35% 1,400 31% -30% Cargotec's eco portfolio 30% 1,200 consists of products and 24% 25% services that enhance 1,000 21% 21% 20% customers' sustainability 18% -20% 800 with tangible 600 environmental benefits, such as fully electric 400 equipment. 200 746 584 679 783 0 CARGOTEC 2016* E 2017* 2018* Eco sales Eco portfolio, % total sales 2019* 2020* 2021 2022 2023 15% FRISTADS 10% 5% 777 1,007 1,288 1,515 -0% 102 *) 2016-2020 based on the old eco portfolio criteria#103Cargotec continued to improve safety while employee favorability remained at a high level Industrial injury frequency rate** Compass Employee Engagement survey 2023 200 150 6.9 100 50 8.0 6.0 6.0 5.2 4.0 4.8 3.8 2.0 159 106 123 99 78 0 0.0 2019 2020 2021 2022 2023 Number of lost time injuries CARGOTEC Cargotec IIFR 78% favourability **Number of lost time injuries per million hours worked 103#104Governance CARGOTEC ECO efficient KALMAR OTTAWA T2E+ 104#105Committed and capable Leadership Team ready to deliver on the strategy Casimir Lindholm CEO Interim President, Kalmar Outi Aaltonen SVP, General Counsel CARGOTEC Mikko Puolakka CFO Scott Phillips President, Hiab Carina Geber-Teir SVP, Communications Until 1.4.2024 Soili Mäkinen SVP, Sustainable Business Development Leif Byström President, MacGregor Mikael Laine SVP, Strategy Interim COO, Kalmar Mikko Pelkonen SVP, Human Resources Sami Niiranen President, Kalmar as of 1.4.2024 105#106Board of Directors Jaakko Eskola Chair, b. 1958 Ilkka Herlin Vice Chair, b. 1959 Tapio Kolunsarka Member, b. 1975 Member of Demerger Committee CARGOTEC Raija-Leena Hankonen-Nybom Member, b. 1960 Teresa Kemppi-Vasama Member, b. 1970 Member of Demerger Committee Johanna Lamminen Member, b. 1966 Kaisa Olkkonen Member, b. 1964 Ritva Sotamaa Member, b. 1963 106#107Largest shareholders 31 January 2024 % of % of shares shares % of votes 14.1% 1 Wipunen varainhallinta Oy 14.1 23.7 2 Mariatorp Oy 12.3 22.9 3 Pivosto Oy 10.7 22.2 4 KONE Foundation 3.0 5.5 12.3% 5 Ilmarinen Mutual Pension Insurance Company 2.5 1.1 59.9% 6 Elo Mutual Pension Insurance Company 1.3 0.5 7 The State Pension Fund 1.2 0.5 10.7% 8 Varma Mutual Pension Insurance Company 1.0 0.4 9 Cargotec Oyj 0.6 0.3 3.0% 10 10 Herlin Heikki Juho Kustaa 0.6 0.3 Nominee registered and non-Finnish holders 28.94% ● Wipunen varainhallinta Oy ● KONE Foundation Mariatorp Oy Others Pivosto Oy Total number of shareholders 37,936 CARGOTEC 107 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.#108For more information, call us or visit our IR-page Next upcoming IR events 30 April 2024 Q1 Results 28-29 May 2024 Capital Market Days Investor relations contact information Meeting requests: Heidi Gustafsson, Executive Assistant Tel. +358 50 570 2082, [email protected] IR Team Aki Vesikallio, VP Investor Relations Tel. +358 40 729 1670 Martti Henttunen, Senior Manager Communications and IR Tel. +358 40 570 1878 CARGOTEC 108#109CARGOTEC