1

Wacker Neuson Group – Working side by side with our customers

August 2019

Why Wacker Neuson? 01

What makes us strong? 02

Where are we heading? 03

Appendix: Financial results H1/19 04

2

Why Wacker Neuson?

Maximum productivity & machine uptime

Comfortable & intuitive machine handling

Operator health & safety

Service, Partnership, Reliability

Attractive total cost of ownership

We align growth with our customers’ needs

4

We drive innovation to improve our customers’ processes

5

Dual View Dumper Zero emissionVertical Digging System Onsite Box – mobile shop

Connected products Remote-control steeringHand-arm vibrations Modular design

Wireless handling with no

emissions

Cockpit rotatable by 180°

Shorter process

times due to exact vertical digging

On-site support for

our customers

Flexibility with one battery fitting 7

products

Give your machines a

voice!

Operating equipmentwithout any

time restrictions

Maximizing operator comfort

We see our customers as our partners

6

Strong customer involvement in R&D

Sophisticated value engineering

Voice

of customer

Technical

benchmarking

Early involvement

of all functions

Front Loading

With our accelerated

customer-oriented

product development

process, we provide our

customers with the right

features and the best

quality at the best price.

Teamwork at every step of the value chain

Research & Development

We are a one-stop provider with an unrivaled offering

7

Light Equipment (LE) Compact Equipment (CE)

Different product groups

same customers

27%of Group sales1

53%of Group sales1

AcademyUsed Machines2Repair2 &

Maintenance2Rental Service2 Genuine PartsConcrete

solutions

Financial Solutions E-Store2 Telematics

Services

20%of Group sales1

1 FY 2018. 2 In selected countries.

Competitors include

Ammann

Bomag

Husqvarna

Weber MT

Customers trust in our longstanding expertise in LE

8

Demolition

Light Equipment (LE)

27%of Group sales1

CompactionConcrete technology

Power & Lighting Pumps

Heaters

€ 1,800Average price of a LE product1

In 1930, Wacker invented

the electric rammer. The

term "wacker packer" is still

used on construction sites.

1 FY 2018.

Customers opt for the advantages of compact equipment

9

Telehandlers Wheel loaders

Compact Equipment (CE)

53%of Group sales1

Dumpers Backhoe loaders Skid steers / Compact track loaders

Excavators

€ 32,000Average price of a CE product1

Urbanization, limited space

and mechanization are

driving demand for compact

equipment in construction

and agriculture.

Competitors include

Kubota

Takeuchi

Yanmar

Manitou

JCB

Bobcat (Doosan)

1 FY 2018.

Market leaders trust in the WN Group’s high quality products

10

OEM (APAC)OEM (global2)Sales (EMENA & CIS1)

Wacker Neuson produces

for Caterpillar2

Kramer3 distributes

via JD’s dealer network

Wacker Neuson produces

for John Deere

Wacker Neuson produces

for Würth

OEM (Europe)

1 Commonwealth of Independent States. 2 Not in Japan, phasing out. 3 Kramer “green line” only.

Service is key to our customers’ success

Academy

Used Machines2Repair2 &

Maintenance2

Financial Solutions

Rental Service2

E-Store2

Genuine Parts

Telematics

Concrete Solutions

Comprehensive services Collaborative relationship

We are there for our customers, listening,

sharing our expertise and working closely

with them to find the best solutions.

140 sales

and service

locations

Service, Partnership,Reliability

Customer proximity

20%of Group sales1

>500service technicians

in close proximity

to our customers

111 FY 2018. 2 In selected countries.

12

What makes us strong?

We serve our markets with three strong brands

13

Construction, gardening/landscaping, maintenance/repairs etc. Agriculture, horse breeders, tree nurseries etc.

Our diversified sales organization responds to regional needs

Direct sales &

rent to sell1 DealersKey accounts

& rental firmseCommerce1

Country-specific sales with long-standing customer relationships

1 In selected countries.14

We drive electrification in our industry

EZ17e

DW15e

DT10e

AP1840e AP2560e

AS60e

AP1850e

ACBe

Full portfolio of zero emission products

ChangeWe are well prepared for the

shift to zero emission

construction sites

“If we learn early enough that

ambitious climate demands will

be imposed, we can drive

innovation forward by

demanding zero-emission

solutions from machinery

manufacturers, equipment

suppliers and contractors.”1

1 Ole Henrik Ystehede, director of EBA (Contractors Association - Building and Construction) for Oslo/Akershus/Østfold.

Through a smart and

innovative procurement

strategy, the City of Oslo

reduces climate gas

emissions at

construction sites.

15

Digitalization creates new opportunities for our business

Connected products –

always a step ahead

Pinpointing location –

connected jobsites

Give your machines a voice

Increasing runtime –

predictive maintenance

Transparency –

Real-time data analysis

Increasing efficiency –

smart products

Optimizing utilization

16

Our diversified business balances out cyclicality

17

Focus on maintenance & repair

of infrastructure large infrastructure

projects have no major impact on our

business

Rental equipment as buffering alternative to purchasing new

machines maximum flexibility for customers

Only small investment volumes

required

Broad customer base, diversified target industries

Different cycles in agriculture & construction

Resilience to cyclicality

1 Source: Off-Highway Research, April 2019. 2 FY 2018

15%of Group sales

from agriculture2

>10different target

industries

0

400

800

1,200

1,600

2,000

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

Global equipment sales (units) Revenue WN Group (€ million)

-33%

1

+39%

[units] [€ m]

Where are we heading?

We are on a steady growth path

Revenue development

597758

9921,092 1,160

1,2841,375 1,361

1,5341,707

CAGR +12.4%[€ m]

19

>2 bnrevenue

Strategy

2022targets

2 timesmarket growth

+11%

Internationalization – plenty of room to grow

20

357.5

397.8

2017 2018

1,129.8

1,248.9

2017 2018

46.6

59.8

2017 2018

+11%

+28%

73%of Group sales1

4%of Group sales123%

of Group sales1

AMERICAS

EUROPE

APAC

[€ m]

[€ m]

[€ m]

1 FY 2018.

Financing programs set up to enable future growth

Extension of anchor dealer network for LE

& CE

Skid steers as door opener for compact equipment

Large potential for

further market share gains

Americas – Anchor dealer strategy to accelerate our growth

21

Light Equipment

Compact Equipment

Services

1 Source: CECE, Off-Highway, 2018. 2 John McClelland, ARA vice president, May 2019.

81,00089,000 91,000

2016 2017 2020e

Skid steer market North America1 (units)

60 yearsin the US light equipment market with

high market shares

“The equipment [...] rental industry is

growing and continues to expand faster

than the overall economy. […] In the

U.S., equipment and event rental

revenue is expected to grow another

4.2 percent in 2020, 4.3 percent in

2021 and 4.7 percent in 2022 to reach

$63.5 billion.”2

2018

Europe – We are striving to increase market shares

22

Light Equipment

Compact Equipment

Services

2018

Further strengthening of

our market position

Gaining significant market shares in UK &

France (i.a.)

Expansion in agriculture with Weidemann and

Kramer

Game changer

We have redefined

safety and accelerated our

customers’ processes with

our dual view dumpers

“The market is maturing and

growing, which is encouraging.

Businesses across Europe

increasingly use rental as part of

their competitive toolkit as it

makes better use of capital,

minimizes environmental impact

and provides access to new

equipment and expertise […].”1

1 Michel Petitjean, Secretary-General of the ERA, ERA Market Report 2018.

Major market shares in DACH –

plenty of room for growth

in other regions

Europe – We are growing our business in the ag sector

23

All-wheel steering

Articulated steering

Our customers are mainly dairy and

cattle farmers who work in confined

spaces such as stables.

They require small, highly

maneuverable machines with a

minimal turning radius and

outstanding stability.

Development of milk prices in Germany2

Price [cent / kg milk]

1 FY 2018. 2 Source: ife Institut für Ernährungswirtschaft, Kiel, March 2019.

+18%growth in CE for the

agricultural sector1

15%of Group sales

from agriculture1

Ramping up production at

recently opened plant in China

Partnership with John Deere will

help improve utilization rate in

new plant

Even small market shares would leverage

our sales significantly

APAC – We benefit from structural market changes in China

24

Light Equipment

Compact Equipment

Services

1 Source: Off-Highway Research, April 2019.

0%

20%

40%

60%

80%

100%

Crawler Excavators Wheeled LoadersMini Excavators Mobile CranesCompactors & Pavers Graders & Dozers

Changing market structure in China – compact equipment on the rise1

52,100

65,00072,000

2018 2019e 2023e

Mini excavator market China 2018 – 2023e (units)1

2018

Cooperation with John Deere for the sale of

“Deere”-brand mini and compact excavators

initially in China, Australia and selected Southeast

Asian countries.

1 Source: Off-Highway Research, April 2019. 2 May 2019

APAC – In the region for the region

>20 yearsin the Chinese

light equipment market

Our R&D team in

China comprises

18engineers

working on

solutions tailored

to the region2

Excavator: EZ17.Key Chinese players Key International players

Sany

XuGong

(XCMG)

LiuGong

Caterpillar

Volvo

Hitachi

Kobelco

Kubota

Doosan

Hyundai

China – divided competitive landscape

Newly opened production and R&D center in China

25

We benefit from megatrends

- Maintenance of

infrastructure

- Limited space

- Clean air

regulations

- Noise pollution

- Growing

middle class

- Food

- Mechanization

- Infrastructure

- Housing

- Energy efficiency

- Waste

management

- Process

optimization

- Telematics

- Smart products

- Building Infor-

mation Modeling

(BIM)

26

Solid Balance Sheet Structure

271 As at Dec. 31, 2018.

64%Equity ratio1

0.9Net financial debt/

EBITDA1

17%Gearing1

8.0%ROCE II1

Excellent basis

for further profitable growth

Clear-cut strategy and experienced management team

28

Martin Lehner

CEO

Responsible for strategy, procurement,

production, technology, quality, investor

relations, corporate communication,

sustainability, compliance, HR and legal

matters.

Alexander Greschner

CSO

Responsible for sales, service and

marketing.

Wilfried Trepels

CFO

Responsible for finance, audit, IT,

Supply Chain and real estate.

Customer-focused strategy

- Streamlining

production sites

29

- Focus on core

areas of expertise

- China as a

growth market

- Development of

digital solutions for

our customers

- Investment in

growth fund for

Industry 4.0

startups

- Expansion of zero

emission product

portfolio

- Employee

development

programs

- Better integration

of sales and

production

- Streamlining the

Group’s internal

supply chain

CUSTOMER CENTRICITY

75

100

125

150

175

Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19

Wacker Neuson SDAX DAX Peer group

Share Development

30

The share in 20191

Key figures per share

Dividend payout

1 As at August 21, 2019 2 Peer group: Ashtead, Atlas Copco, Bauer, Caterpillar, Cramo, Deutz, DoosanBobcat, Haulotte,

Husqvarna, John Deere, Komatsu, Manitou, Palfinger, Ramirent, Terex, United Rentals, Volvo. 3 As at Aug. 21, 2019.

Family 58%

Free float 42%

in € H1/19 H1/18

Earnings per share 0.78 1.35

Book value per share 16.93 16.69

Share price at end of period 22.12 21.76

Market capitalization (€ m) 1,551.5 1,526.2 (Total shares: 70,140,000)

Coverage3 Shareholder structure

Bank TP (€) Recom. Date

Hauck & Aufhäuser 36.50 Buy Aug 13, 2019

Warburg 28.80 Buy Aug 06, 2019

MainFirst 28.00 Outperform Aug 06, 2019

Metzler 27.00 Buy July 04, 2019

Berenberg 27.00 Buy Jan 20, 2019

Bankhaus Lampe 24.00 Buy Aug 07, 2019

Commerzbank 23.00 Hold July 24, 2019

Kepler Cheuvreux 16.00 Hold Aug 08, 2019

1.30

0.940.81

1.25

2.06

0.50 0.50 0.500.60

38%53%

62%48% 53%

-100%

-80%

-60%

-40%

-20%

0%

20%

40%

60%

80%

100%

0.00

0.50

1.00

1.50

2.00

2.50

2014 2015 2016 2017 2018

EPS in € Dividend per share in € Payout ratio

1.10 Special

dividend

0.50

0.60

% -6%

2

Wrap up

31

Resilience to cyclicality

Focus on maintenance & repair of

infrastructure

Broad customer base, diversified target

industries

Solid base

Growth potentialMegatrends as

business driversGlobal trend towards compact equipment

Growth opportunitiesin Europe, North

America and APAC

Sales channelsDirect sales & rent

to sellDealers

Key accounts & rental firms

eCommerce

Products

Innovation- and market-leading position in light and compact equipment

Future-proof product portfolio

driven by innovation

One-stop shopPioneers in zero

emissionsolutions

Focus on theright products forthe right markets

High equity ratio, family as anchor

shareholders

32

Appendix – Financial results H1/19

Key figures

33

NWC1 ratio: 41.6%

(+7.5 PP yoy)

DIO2: 155 days

(+25 days yoy)

Equity ratio: 52.5%

(-12.5 PP yoy)

June 30, 2019

Revenue yoy

+15%

EBIT yoy

+7%

Op. CF

€ -145m

FCF

€ -186m

(margin: 8.9%)

H1/19

(€ 951m)

(H1/18: € 12m)(H1/18: € -35m)

1 Net working capital / annualized revenue for the quarter.2 Days inventory outstanding = (inventory / annualized cost of sales for the quarter)*365 days.

Revenue yoy

+14%

EBIT yoy

-3%

Op. CF

€ -29m

FCF

€ -43m

(margin: 10.5%)

Q2/19

(€ 516m)

(Q2/18: € 57m)(Q2/18: € 6m)

425379 392 371

455416

466435

516

11.0% 10.6%

7.8%6.2%

12.3%

10.1%

8.4%6.9%

10.5%

0%

5%

10%

15%

20%

0

100

200

300

400

500

Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19

Revenue and earnings

34

+14%

Q2/19: Accelerated revenue growth continues

Income statement (excerpt)

Comments on H1/19

Revenue +15.2% yoy (adj. for FX effects: +13.7%)

▪ Growth across all reporting regions and segments

▪ Compact equipment for the agricultural sector grew at a significantly

higher-than-average rate (+32% yoy)

Gross profit +9.7% yoy (gross profit margin -1.3PP)

▪ Increased costs in production and logistics (additional effort due to higher

production and material volumes, handling and rework of unfinished

machines, changes in product mix)

▪ Restructuring of US plant continued

EBIT +7.4% yoy (EBIT margin: -0.6PP)

▪ Operating costs increased at a disproportionately low rate despite a

moderate increase in headcount, wage increases and costs for Bauma

▪ Operating costs as a share of revenue decreased by 0.6PP vs. H1/18

Adj. earnings per share1 +13.0% yoy

▪ The financial result was EUR 0.6m up on the previous year: Positive FX

effects (EUR +2.2m yoy), due e.g. to the appreciation of the USD and

currencies in some emerging economies; interest result slightly below

prior year (EUR -1.6m yoy), mostly due to the initial application of IFRS 16

▪ The tax rate increased to 31.8% (H1/18: 26.4%); the sale of a real-estate

company had a positive impact on the tax rate in the previous year.

Revenue

[€ m]

EBIT

margin

€ m Q2/19 Q2/18 H1/19 H1/18

Revenue 516.1 454.6 950.7 825.1

Gross Profit 136.0 128.9 246.9 225.1

as a % of revenue 26.4% 28.4% 26.0% 27.3%

SG&A incl. other income/expenses -81.7 -73.2 -162.4 -146.4

as a % of revenue -15.8% -16.1% -17.1% -17.7%

EBIT 54.3 55.7 84.5 78.7

as a % of revenue 10.5% 12.3% 8.9% 9.5%

Financial result -4.4 -2.9 -4.7 -5.3

Taxes on income -16.3 -27.8 -25.4 -33.8

Profit for the period 33.6 79.8 54.4 94.4

EPS (in €) 0.48 1.14 0.78 1.35

Adj. EPS (in €)1 0.48 0.48 0.78 0.69

1 Adjusted for the one-off income in the amount of EUR 45.8m after tax from

the sale of a real estate company held by the Group in Q2/18.

H1/19: Compact equipment remains growth driver

950.7

28.9

229.5

692.3

Total H1/19

Asia-Pacific

Americas

Europe

Business development by region and business segment

35

H1/19: Growth in all regions

Revenue Europe +15.5% yoy (adj. for FX effects: +15.6%)

▪ Rapid growth in the UK (significant gains with dumpers and excavators),

above-average growth in France, Poland, Germany, Austria, Italy and

Spain, increased market shares in many product groups

▪ Revenue generated with Weidemann- and Kramer-brand compact

equipment for the agricultural sector +32% yoy

Revenue Americas +13.7% yoy (adj. for FX effects: +7.2%)

▪ Continued growth in the Group’s business with anchor dealers

▪ Restrained demand in Canada, partially related to changes in emissions

legislation, which had led to pre-buy effects in Q4/18

▪ Double-digit growth in South America, uncertainties remain

▪ Restructuring in the US continued as planned, Brazilian plant for

generators was closed in H1

Revenue Asia-Pacific +19.9% yoy (adj. for FX effects: +19.5%)

▪ Continued ramp up of production in China, strong growth especially with

excavators, Australia below expectations

▪ First mini and compact excavators delivered to John Deere

▪ Increased price pressure in the Chinese mini excavator market

73%

24%

3%

100%

+16%

+14%

+20%

+15%

share yoy

104.0

5.8

-1.1

84.5

EBIT1

Comments on H1/19

Revenue [€ m]

960.5

175.5

537.9

247.1

Total H1/19

Services

Compact equipment

Light equipment 26%

56%

18%

100%

+7%

+21%

+10%

+15%

share yoy

1 EBIT for regions before consolidation.2 Revenue by business segment before cash discounts.

Revenue [€ m]2

Rise in inventories and receivables drive up net working capital

36

Inventories

Trade payables

Trade receivables

▪ High inventory levels, actions to reduce stocks have been taken

(e.g. appropriate reduction of production output)

▪ Rise in trade receivables due to the increased volume of business and

an unfavorable regional and customer mix (related to the expansion of

the dealer network in North America)

▪ Rise in trade payables yoy due to the increased volume of business

and an increase in inventory

→ Significant, temporary rise in net working capital (see next slide)

1 Days inventory outstanding = (inventories/(cost of sales*4))*365 days; 2 Days sales outstanding =

(receivables/(revenue*4))*365 days; 3 Days payables outstanding = (payables/(cost of sales*4))*365 days.

Comment

Trade payables [€ m]

Inventories

[€ m]

428 439 434 459 462500

553

633 645

129150 141 153

130151 144

179155

0

100

200

300

400

0

100

200

300

400

500

600

700

Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19

DIO1

[days]

272249 235

273

320 304 303

371413

58 60 5567 64 67

59

78 73

0

50

100

150

200

0

100

200

300

400

Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19

114 120134

149163 167

213 208 199

34 41 43 50 46 50 56 59 48

0

100

200

300

400

0

100

200

300

Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19

Trade receivables [€ m]

DPO3

[days]

DSO2

[days]

37

Net working capital

Free cash flow

Cash flow from operating activities

▪ Rise in net working capital due to high levels of inventory and trade

receivables (see previous slide)

▪ CAPEX at EUR 42.5m (H1/18: EUR 27.3m), primarily attributable to

expansion of production and logistics facilities

▪ Cash flow from operating activities and free cash flow significantly

below prior-year levels

▪ Cash flow from financing activities at EUR 193.2m (H1/18: EUR

20.4m), placement of a promissory note of EUR 150m, increase in

short-term bank loans (see next slide)

33 61 63

-41

6 10 8

-116

-29

-150

-100

-50

0

50

100

150

Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19

Comment

2851 46

-45

57

-3 -12

-143

-43

-160

-120

-80

-40

0

40

80

Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19

Free cash flow

[€ m]

Cash flow from operating activities

[€ m]Net working capital

[€ m]

586 568 536583 620 638 644

797858

34% 38%34%

39%34%

38%35%

46%42%

0%

20%

40%

60%

80%

100%

0

200

400

600

800

Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19

Net working capital

[as a % of sales]

Cash flow impacted by a rise in net working capital

1,083 1,103 1,115 1,122 1,170 1,200 1,221 1,241 1,187

65% 67% 69%65% 65% 65% 64%

58%53%

0%

20%

40%

60%

80%

100%

0

200

400

600

800

1,000

1,200

1,400

Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19

245195

148193 188 193 205

358

484

23%18%

13%17% 16% 16% 17%

29%

41%

0%

10%

20%

30%

40%

50%

60%

70%

0

100

200

300

400

500

Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19

Marked rise in net financial debt

38

▪ Increase in both long- and short-term liabilities

▪ May 2019: Promissory note (Schuldschein) successfully issued with

attractive interest rates and terms of five and seven years to secure

long-term funding for the Group’s accelerated growth

▪ Marked rise in net financial debt, gearing1 at 41%

▪ Equity ratio at 53% significantly below average for previous quarters

0.90.8

0.7

1.2

0.60.8 0.8

1.61.5

0.0

0.5

1.0

1.5

2.0

Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19

Net financial debt

[€ m]

Equity

[€ m]

Net financial debt and gearing

Equity and equity ratio

Net financial debt/EBITDA

1 Net financial debt/equity. 2 Net financial debt/annualized EBITDA for the quarter.

Gearing1

Equity ratio

Net financial debt/

EBITDA2 [x]

Comment

Outlook for 2019

39

Revenue and earnings guidance for 2019 confirmed

Business index for European construction industry subdued Business index for European ag industry decreases further

▪ Geopolitical risks and uncertainties regarding Brexit continue to have a

negative impact on the global economic climate. Many institutions have

revised their forecasts (e.g. IMF, World Bank)

▪ CECE and CEMA see weakening market environment in European

construction and ag industry

▪ Order books continue to be at a high level thanks to strong demand from the

construction industry in particular

▪ Revenue and earnings guidance for 2019 confirmed, with revenue expected

in the upper half of the projected range

▪ Net working capital expressed as a percentage of revenue is expected to be

slightly higher than the prior-year level (previous guidance: “slightly lower”)

Source: CECE, July 2019 Source: CEMA, July 2019

2012 2013 2014 2015 2016 2017 2018 2019

1,707

9.4%

8%

9%

10%

11%

12%

0

500

1,000

1,500

2,000

2018 Guidance 2019

1,775–1,850

9.5–10.2%

+4–8%Revenue

[€ m]

EBIT

margin

Comments

Financial Calendar and Contact

40

August 6, 2019 Publication of half-year report 2019; analysts’ & investors’ conference call

August 28, 2019 Commerzbank Sector Conference, Frankfurt

September 24, 2019 Berenberg/Goldman Sachs German Corporate Conference, Munich

November 7, 2019 Publication of Q3 report 2019; analysts’ & investors’ conference call

Numerous other roadshows and conferences

Contact

Wacker Neuson SE

IR Contact: +49 - (0)89 - 354 02 - 427

ir@wackerneuson.com

www.wackerneusongroup.com

Disclaimer

Cautionary note regarding forward-looking statements

The information contained in this document has not been independently verified and no representation or warranty expressed or implied is made as to, and no reliance should be placed on, the

fairness, accuracy, completeness or correctness of this information or opinions contained herein.

Certain statements contained in this document may be statements of future expectations and other forward looking statements that are based on management‘s current view and assumptions and

involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements.

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