THOR Investor Day 2022

Dealer Inventory Levels Motorhomes 39.0% -34.0% Campervans 14.0% 19.0% 18.0% 5.0% 7.0% Caravans 39.0% 33.0% 33.0% 05/2020 05/2021 05/2022 Historically low dealer inventory levels across all core European markets and product segments ■ Most core market inventory levels are significantly lower than the rest of Europe Dealer inventory is not expected to return to normal levels until 2024 THOR Go Everywhere. Stay Anywhere™ Source: Management estimates. Unsold Dealer Stock in percentage of annual sales in units. THOR Investor Day 2022

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