Investor Presentaiton

DISCIPLINED, CONSISTENT CAPITAL ALLOCATION STRATEGY Maintain & Grow Dividend Organic Growth Strong Balance Sheet Disciplined Acquisitions Dividend Yield = ~ 5% • Sustainable & Growing Dividend 15 Dividend Increases in 13 Years Continue Organic Investments • Vertical Integration & New Product Introductions • • Target Leverage Ratio Of 1.5X - 3.0X 80% of Variable Interest Risk Mitigated with Swap Capital Structure Creates Liquidity to Pursue Strategic Assets © 2023 Douglas Dynamics, LLC • Financial Flexibility . ୧୧ Return Cash to Shareholders Initiated $50M Share Buyback in Spring 2022 222

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