Financial Data and Key Metrics Changes - Third quarter orders totaled $535 million, an increase of $145 million, or 37%, compared to the same period last year [20] - Net sales in the third quarter were $405 million, an increase of $49 million or 14% from a year ago, despite being negatively impacted by approximately 16% due to supply chain issues [22] - Adjusted EBITDA for the third quarter was $20 million, a decrease of approximately $5 million year-over-year, with an adjusted EBITDA margin of 4.9%, down 210 basis points from the prior year [23][24] - GAAP diluted net loss per share was $0.01, while adjusted diluted earnings per share were $0.06, declining by $0.04 from the prior year [25] Business Line Data and Key Metrics Changes - The acquisition of Aspen Equipment and the H&E crane business was finalized for approximately $180 million, with an all-in EBITDA multiple of roughly six times [12] - The backlog increased to $891 million, a 92% increase over the prior year, with over 50% scheduled to ship within the year [21] Market Data and Key Metrics Changes - North America dealer inventory levels are in line with current demand, while Europe is seeing recovery in all-terrain products and elevated levels in the tower crane business [14] - In Asia, while China is softening, other markets like South Korea and Australia remain strong, although a moderate slowdown in orders was noted in September and October [15] Company Strategy and Development Direction - The company is focused on integrating recent acquisitions and maintaining a disciplined approach to its North American aftermarket strategy through organic and inorganic growth opportunities [37] - The European tower crane rental fleet strategy has progressed, doubling the size of the rental fleet and maintaining high asset utilization rates [32] - The company aims to transition from a low-margin crane manufacturer to a customer-driven company focused on aftermarket services [39] Management's Comments on Operating Environment and Future Outlook - Management expressed pride in the team's execution during the quarter despite financial results not reflecting overall progress due to supply chain and inflationary challenges [19] - Concerns were raised about ongoing supply chain issues, transportation, inflation, and labor constraints impacting future performance [30] - The company remains optimistic about the North American market, citing positive sentiment regarding infrastructure programs and stable oil prices [70] Other Important Information - The company generated $18 million of cash from operating activities in the quarter, compared to $28 million in the prior year, with a cash balance of $222 million at the end of the quarter [25][26] - Full-year guidance was updated to reflect revenue of approximately $1.725 to $1.775 billion and adjusted EBITDA of approximately $100 million to $110 million [27] Q&A Session Summary Question: Can you provide details on the cadence of your pricing actions this year? - Management indicated that commodity pricing has flattened out, and price increases have been implemented three to four times over the last six months, with current orders being matched with locked-in costs [42] Question: How does the M&A pipeline look today? - Management feels positive about the M&A pipeline but is focused on integrating recent acquisitions before pursuing new ones [44] Question: Can you discuss the pricing mechanisms and potential margin expansion? - Management noted that while steel prices have started to roll over, it is too early to determine how sticky the price increases will be [49] Question: What is the cadence of orders and outlook for North America? - Management observed that order intake was strong ahead of price increases, but September and October saw lighter orders, with a need to monitor the situation in the coming months [63]

Financial Data and Key Metrics Changes - The second quarter orders totaled $537 million, an increase of $299 million or 126% compared to the same period last year [19] - Net sales in the second quarter were $464 million, an increase of $135 million or 41% year-over-year [21] - Adjusted EBITDA for the second quarter was $41 million, an increase of $33 million year-over-year, with an adjusted EBITDA margin improving to 8.8%, up 638 basis points from the prior year [23] - GAAP diluted earnings per share in the quarter was $0.50, while adjusted diluted earnings per share improved by $1.07 from the prior year to $0.60 [25] Business Line Data and Key Metrics Changes - All reportable segments reported increases in sales, driven by higher customer demand [21] - The parts and service business was up 10% year-over-year on a year-to-date basis [91] Market Data and Key Metrics Changes - The backlog as of June 30 was $736 million, an increase of 71% over the prior year, with over 85% scheduled to ship within the year [20] - The tower crane business in Europe is experiencing strong demand, while the recovery of the European mobile crane market is lagging [16] - In Asia, strong demand continues, although there has been a slowdown in China during the summer months [16] Company Strategy and Development Direction - The company is committed to four strategic growth initiatives: growing the tower crane rental and aftermarket business in Europe, building out the China and Belton road tower crane business, accelerating new product development in all terrains, and expanding aftermarket activities in North America [32] - The recent acquisition of H&E's crane business is seen as a key part of the growth strategy, providing a strong service network and opportunities for growth in service, parts, and new product sales [33] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the crane market, despite challenges from supply chain disruptions and inflationary pressures [35] - The company anticipates that the second half of the year will be impacted by rising input costs, but remains focused on executing its growth strategy [36] - There is a belief that 2022 could return to a more normalized pricing and cost environment, although uncertainty remains [42] Other Important Information - The company has reinstated its 2021 full-year guidance, excluding the impact of the pending acquisition of H&E Equipment Services [28] - The company generated $9 million of cash from operating activities in the quarter, with a total liquidity of $454 million as of June 30 [26] Q&A Session Summary Question: Did supplier constraints limit production in the quarter? - Management indicated it was a combination of supply chain disruptions and pricing issues, with some disruptions affecting crane shipments [40][41] Question: Are price increases sufficient to cover known inflation? - Management expressed hope for normalization in 2022 but acknowledged ongoing challenges with rising costs [42] Question: What is the capacity utilization for cranes in the field by region? - Utilization in the U.S. is improving, while Europe shows strong demand for tower cranes but is more muted for all terrains [60] Question: What are the expectations for the oil and gas market? - Management noted that oil prices are slowly increasing, which could positively impact demand for cranes in that sector [115]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-11978 The Manitowoc Company, Inc. (Exact Name of Registrant as Specified in its Charter) Wisconsin 39-0448110 (State or other juri ...

First-Quarter 2021 Earnings Conference Call May 6, 2021 Aaron Ravenscroft– President & Chief Executive Officer David Antoniuk – EVP & Chief Financial Officer Ion Warner – VP Marketing & Investor Relations Forward-Looking Statements Safe Harbor Statement Any statements contained in this presentation that are not historical facts are "forward-looking statements." These statements are based on the current expectations of the management of the Company, only speak as of the date on which they are made, and are s ...

Financial Data and Key Metrics Changes - First quarter orders totaled $474 million, an increase of 26% compared to $375 million in the same period last year [15] - Net sales in the first quarter were $354 million, an increase of $25 million or 8% from a year ago [17] - Adjusted EBITDA for the first quarter was $21 million, an increase of approximately 29% year-over-year, with an adjusted EBITDA margin improvement to 6% [19] - The company generated $41 million of cash from operating activities in the quarter, compared to a use of $79 million in the prior year [22] - GAAP diluted loss per share was $0.09, while adjusted diluted loss per share improved to $0.06, a $0.12 improvement from the prior year [21] Business Line Data and Key Metrics Changes - Orders improved in all segments, with a backlog of $663 million, up 27% over the prior year [16] - The tower crane business in Europe was particularly strong, driven by tax incentives and follow-on orders from dealers [7][9] - The Americas segment saw a high single-digit increase in orders, but the overall performance was tempered by cautious market signals [11][12] Market Data and Key Metrics Changes - The Middle East and Asia Pacific regions showed encouraging project pipelines and strong bookings [10] - The North American market remains cautious, with major crane rental houses holding back on investments despite positive vaccine news and speculation around infrastructure spending [11] Company Strategy and Development Direction - The company is focused on four strategic initiatives: expanding the European tower crane rental fleet, advancing the Chinese tower crane business, filling product gaps in the all-terrain crane business, and pursuing acquisition opportunities for long-term growth [28][30][31] - The company plans to invest approximately $35 million to $40 million in capital expenditures in 2021, including investments in the European rental fleet [20] Management's Comments on Operating Environment and Future Outlook - The management expressed concerns about ongoing supply chain challenges, including high steel prices and semiconductor chip shortages, which are expected to impact operations [25][26] - The company anticipates a year-over-year contribution margin lower than normal in the second half of 2021 due to these headwinds [27] - Full year 2021 adjusted EBITDA guidance is set at $90 million to $105 million [27] Other Important Information - The company is implementing price increases to mitigate the impact of rising material costs, but there is a lag between raw material lead times and the effective date of these increases [25] - The company has seen a significant increase in orders due to dealers placing orders in advance of price changes [8] Q&A Session Summary Question: Order cadence and European tower crane momentum - Management noted that April was a good month for orders, with some orders coming in advance of price increases [38] Question: Price/cost matching and inflation impact - Management indicated that while they have managed pricing well, prolonged high steel prices will adversely affect price/cost comparisons in the second half of the year [42][43] Question: Operating free cash flow and working capital - Management explained that the positive cash flow in the first quarter was unusual and attributed to higher accounts receivable converting over and managing inventory levels [50] Question: Supply chain conditions and top-line revenue normalization - Management expressed skepticism about supply chain improvements and indicated uncertainty regarding the timeline to return to normalized revenues of $1.9 billion to $2.2 billion [76] Question: Energy side of the business and capacity management - Management stated that the North American market for large RTs is slow, with low utilization, but they are well-positioned without needing additional restructuring [80]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-11978 (Exact Name of Registrant as Specified in its Charter) Wisconsin 39-0448110 (State or other jurisdiction (I.R.S. Employer 1 ...

Aaron Ravenscroft– President & Chief Executive Officer Fourth-Quarter 2020 Earnings Conference Call February 10, 2021 David Antoniuk – EVP & Chief Financial Officer Ion Warner – VP Marketing & Investor Relations Forward-Looking Statements Safe Harbor Statement Any statements contained in this presentation that are not historical facts are "forward-looking statements." These statements are based on the current expectations of the management of the Company, only speak as of the date on which they are made, an ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2020 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 1-11978 The Manitowoc Company, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpo ...

The Manitowoc Company, Inc. (NYSE:MTW) Q4 2020 Earnings Conference Call February 10, 2021 10:00 AM ET Company Participants Ion Warner - Vice President, Marketing and Investor Relations Aaron Ravenscroft - President and Chief Executive Officer Dave Antoniuk - Executive Vice President and Chief Financial Officer Conference Call Participants Ann Duignan - JPMorgan Stephen Volkmann - Jefferies Jamie Cook - Credit Suisse Jerry Revich - Goldman Sachs Mike Shlisky - Colliers Securities Mig Dobre - Baird Cliff Rans ...

Financial Performance (Q3 2020 vs Q3 2019) - Net sales decreased by 206% from $4480 million to $3556 million[9] - Operating income decreased significantly by 639% from $325 million to $117 million[11] - Adjusted operating income decreased by 540% from $339 million to $156 million[12] - Net income experienced a substantial decrease of 1020% from $180 million to a loss of $04 million[13] - Adjusted net income decreased by 817% from $191 million to $35 million[14] - Adjusted EBITDA decreased by 421% from $428 million to $248 million[15] Financial Position - Cash increased significantly by 498% from $675 million to $1011 million[18] - Liquidity increased by 119% from $3544 million to $3967 million[19] - Backlog experienced a slight decrease of 04% from $4665 million to $4648 million[20] Market Conditions - The Americas are facing continued headwinds from COVID-19, the election, dealer inventory levels, and oil prices, with broad industry recovery unlikely until mid-2021 at the earliest[22] - EURAF is facing the most uncertain outlook due to a resurgence of COVID-19 and severe lockdowns, with the bottom of the Tower cycle not yet in sight[22] - MEAP is experiencing strength in China and South Korea, project-driven demand in the Middle East, softness in Southeast Asia and India, and moderating demand in Australia[22] Growth Strategy - The company sees a $3 billion market with plenty of opportunity for growth in the EU Tower Crane Market[26]