Financial Data and Key Metrics Changes - The company reported record first quarter net sales of $103.3 million, up from $68.2 million in the same period last year, and gross profit increased to $26.5 million from $11.7 million [21] - GAAP net income was $742,000 or $0.03 per diluted share, compared to a net loss of $10.1 million or negative $0.44 per diluted share in 2020 [21] - Adjusted EBITDA reached $10.7 million, a significant improvement from negative $1.7 million in the prior year [22] Business Line Data and Key Metrics Changes - The Work Truck Attachments segment generated net sales of $42 million, up from $19.2 million last year, with adjusted EBITDA of $8.2 million compared to negative $2.1 million [24] - The Work Truck Solutions segment reported net sales of $61.4 million, an increase from $49.1 million, with adjusted EBITDA rising to $2.4 million from $400,000 [27] Market Data and Key Metrics Changes - The company experienced significant snowfall in February, which positively impacted sales, although the overall season was approximately 7% below the 10-year average [25] - Dealer inventories are in good shape, and dealer sentiment is positive heading into the pre-season order period [13] Company Strategy and Development Direction - The company is committed to its vertical integration strategy and plans to launch a new medium-duty municipal first responder product in the summer [16] - The management team is focused on maintaining a healthy balance sheet and is actively monitoring the competitive landscape for potential M&A opportunities [17] Management's Comments on Operating Environment and Future Outlook - The management acknowledged ongoing challenges such as supply chain disruptions, material price inflation, and a tight labor market, but expressed confidence in maintaining guidance for the year [10][36] - The company expects to see a return to normal business conditions and is optimistic about long-term success despite short-term headwinds [18] Other Important Information - The company filed a shelf registration statement with the SEC to streamline future capital market access [32] - The company reiterated its 2021 guidance, expecting net sales between $505 million and $565 million and adjusted EBITDA ranging from $75 million to $100 million [33] Q&A Session Summary Question: Can you elaborate on the supply chain tightness? - The CEO noted that chassis supply issues remain a significant concern, along with other component challenges, and emphasized the fluid nature of the situation [40] Question: What has changed in the municipal side orders recently? - The CEO indicated that there has been an increase in orders due to improved visibility on budgets and potential stimulus impacts [42] Question: How does field inventory inform your perspective on order activity? - The CEO explained that the unusual weather patterns and pent-up demand contributed to the strong order intake, suggesting some sales may have been pulled forward [46] Question: What is the expected seasonal cadence between Q2 and Q3? - The CFO stated that the expectation is to return to a 60-40 split between Q2 and Q3, compared to the unusual 50-50 split last year [49] Question: How is the company addressing inflation on raw materials? - The CFO confirmed significant inflation, particularly in steel, but expressed confidence in the company's ability to manage pricing and demand [56]

Table of Contents 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: 001-34728 DOUGLAS DYNAMICS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdi ...

Bob McCormick – President & CEO Sarah Lauber – CFO I n v e s t o r P r e s e n t a t i o n M a r c h 2021 Forward Looking Statements The following presentation contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These statements include information relating to future events, future financial performance, strategies, expectations, competitive environment, regulation, product demand, the payment of dividends, and availability of fin ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ 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 No. 001-34728 DOUGLAS DYNAMICS, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdict ...

Douglas Dynamics, Inc. (NYSE:PLOW) Q4 2020 Earnings Conference Call February 23, 2020 10:00 AM ET Company Participants Bob McCormick - President & CEO Sarah Lauber - CFO Conference Call Participants Tim Wojs - Baird Ryan Sigdahl - Craig-Hallum Capital Chris McGinnis - Sidoti & Company Operator Ladies and gentlemen, thank you for standing by and welcome to the Douglas Dynamics’ Fourth Quarter 2020 Earnings Conference Call. At this time, all participants’ lines are in a listen-only mode. After the speaker’s p ...

Financial Data and Key Metrics Changes - The company reported Q3 2020 net sales of $133.8 million, down from $141.9 million in Q3 2019, with gross profit decreasing from $39.9 million to $36.7 million [35] - GAAP net income for Q3 2020 was $9.2 million ($0.39 per diluted share), compared to $12.4 million ($0.53) in the same period last year [35] - Adjusted EBITDA for Q3 2020 was $23.1 million, down from $25.1 million in Q3 2019 [36] Business Segment Data and Key Metrics Changes - In the Work Truck Attachments segment, net sales increased to $76.9 million from $75.6 million, with adjusted EBITDA rising to $20.2 million from $18.7 million [38] - The Work Truck Solutions segment saw net sales decline to $56.9 million from $66.2 million, with adjusted EBITDA dropping to $2.9 million from $6.4 million [40] Market Data and Key Metrics Changes - The company noted that dealer inventories for plows are 10% to 15% below the previous year, indicating a positive demand outlook as the snow season approaches [59] - Incoming orders at Dejana have surpassed the same period in 2019, which was a record year, reflecting a strong recovery in demand [16] Company Strategy and Development Direction - The company remains committed to its dividend policy, having paid dividends as usual at the end of the quarter, and plans to continue this trend in the future [23] - Vertical integration initiatives are on track, with expectations for more specific updates in 2021 [45] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in emerging stronger from the pandemic, highlighting the resilience of their business model and operational execution [30][52] - The company anticipates a gradual recovery in the Solutions segment, with expectations for improved performance in Q4 2020 [49] Other Important Information - The company has increased its liquidity to approximately $93.9 million, up from $47.3 million a year ago, due to a refinancing of its credit facility [45][46] - The effective tax rate for Q3 2020 was 26%, higher than the 20% rate in Q3 2019, attributed to the release of reserves for uncertain tax positions last year [37] Q&A Session Summary Question: Insights on September order activity in attachments - Management noted that dealer orders were conservative early in the pandemic but saw increased stocking orders as dealers became more comfortable, leading to a positive order momentum [56][58] Question: Supply chain pressures in Solutions - Management indicated that while there are some challenges, overall component supply has been stable, with caution regarding potential future disruptions due to rising COVID cases [60][61] Question: Vertical integration initiatives impact - Management stated that while there will be some impact from vertical integration initiatives in 2021, the greater benefits are expected in 2022 and beyond [64] Question: Dynamics of Dejana's chassis supply - Management highlighted that while chassis supply has improved, there are still inconsistencies, but they remain optimistic about long-term growth prospects [70][71] Question: Market share dynamics in a challenging environment - Management expressed that uncertain economic conditions present opportunities to gain market share, particularly in the attachments and Solutions segments [81][82] Question: Free cash flow expectations - Management indicated that free cash flow is expected to exceed the dividend, driven by improved earnings and potential reductions in working capital [84]

Bob McCormick – President & CEO Sarah Lauber – CFO Investor Presentation September 2020 Forward Looking Statements The following presentation contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These statements include information relating to future events, future financial performance, stralegies, expectations, competitive environment, regulation, product demand, the payment of dividends, and availability of financial resources. ...

Bob McCormick – President & CEO Sarah Lauber – CFO J e f f e r i e s C o n f e r e n c e A u g u s t 2 0 2 0 Forward Looking Statements The following presentation contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These statements include information relating to future events, future financial performance, strategies, expectations, competitive environment, regulation, product demand, the payment of dividends, and availability of ...

Douglas Dynamics, Inc. (NYSE:PLOW) Q2 2020 Earnings Conference Call August 4, 2020 10:00 AM ET Company Participants Bob McCormick - President and Chief Executive Officer Sarah Lauber - Chief Financial Officer Conference Call Participants Josh Chan - Baird Ryan Sigdahl - Craig-Hallum Capital Chris McGinnis - Sidoti & Company Operator Good morning, ladies and gentlemen and welcome to the Douglas Dynamics Second Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. [O ...

Douglas Dynamics, Inc. (NYSE:PLOW) Q1 2020 Earnings Conference Call May 5, 2020 10:00 AM ET Company Participants Sarah Lauber - CFO & Secretary Robert McCormick - President, CEO & Director Conference Call Participants Ryan Sigdahl - Craig-Hallum Timothy Wojs - Robert W. Baird & Co. Christopher McGinnis - Sidoti & Company Operator Good morning, ladies and gentlemen, and welcome to the Douglas Dynamics First Quarter 2020 Earnings Conference Call. [Operator Instructions]. I would now like to turn the call over ...