You should not place undue reliance on these forward-looking statements. In addition, the forward-looking statements in this release speak only as of the date hereof and we undertake no obligation, except as required by law, to update or release any revisions to any forward-looking statement, even if new information becomes available in the future. © 2023 Douglas Dynamics, LLC 2 INVESTOR PRESENTATION MAY 2024 Sarah Lauber – Executive Vice President, Chief Financial Officer Nathan Elwell – Vice President, In ...

© 2025 Douglas Dynamics, LLC 2 RECENT ANNOUNCEMENTS This 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 financial resources. These statements are often identified by use of words such as "anticipat ...

Core Points - Douglas Dynamics, Inc. celebrated its 15th anniversary as a publicly traded company on the NYSE, marking a significant milestone in its 75-year history [1][3] - The company is recognized as North America's premier manufacturer and upfitter of commercial work truck attachments and equipment, with a commitment to innovation and quality [4] - The company operates through two main segments: Work Truck Attachments and Work Truck Solutions, featuring well-known brands such as FISHER®, SNOWEX®, WESTERN®, HENDERSON®, and DEJANA® [4] Company Overview - Douglas Dynamics has been innovating products for over 75 years, enabling businesses to perform jobs more efficiently and increase profitability [4] - The proprietary Douglas Dynamics Management System (DDMS) focuses on continuous improvement to produce high-quality products and deliver industry-leading service [4] - The company emphasizes optimizing operations, expanding offerings, and enhancing its resilient business model [3]

Financial Performance - Douglas Dynamics, Inc. reported a net sales increase of 20.3% to a record $115.1 million in Q1 2025 compared to Q1 2024, driven by higher sales of equipment and parts [5][6] - Gross profit margin improved by 470 basis points to 24.5%, reflecting enhanced operational efficiency [5][6] - Net income for the quarter was $0.1 million, a significant improvement from a net loss of $(8.4) million in the same period last year [5][6] - Adjusted EBITDA rose to $9.4 million from $1.5 million year-over-year, with a record adjusted diluted EPS of $0.09 [5][6] Segment Performance - The Work Truck Attachments segment saw net sales increase by 52.9% to $36.5 million, with adjusted EBITDA improving to $0.3 million from a loss of $(4.5) million [12][4] - The Work Truck Solutions segment reported net sales of $78.6 million, a 9.5% increase, and adjusted EBITDA of $9.1 million, up 51.7% from the previous year [13][8] Operational Highlights - The company experienced more typical winter weather patterns, leading to increased sales of ice control equipment, with snowfall approximately 30% higher than the previous winter [7] - Selling, general, and administrative expenses increased by $1.9 million to $23.4 million, attributed to improved performance and higher stock-based compensation [6] Liquidity and Capital Structure - The company paid a quarterly cash dividend of $0.295 per share on March 31, 2025, and reduced net cash used in operating activities significantly from $21.6 million in Q1 2024 to $1.3 million in Q1 2025 [14][6] - Total inventory at the end of Q1 2025 was $171.5 million, a decrease from $174.8 million year-over-year, with a notable reduction in the Attachments segment [14][6] 2025 Outlook - The company maintains a positive outlook for 2025, assuming stable economic conditions and average snowfall in core markets [15][11] - Guidance for 2025 includes expected net sales between $610 million and $650 million, with adjusted EBITDA projected to range from $75 million to $95 million [20][11]

Core Viewpoint - Douglas Dynamics, Inc. announces a leadership transition with Don Sturdivant appointed as Chairman of the Board, succeeding Jim Janik, who will remain on the Board to ensure continuity [1][2][3]. Company Overview - Douglas Dynamics is North America's leading manufacturer and upfitter of work truck attachments and equipment, with over 75 years of innovation in products that enhance job efficiency and business profitability [6]. - The company operates through two segments: Work Truck Attachments, which includes brands like FISHER®, SNOWEX®, and WESTERN®, and Work Truck Solutions, featuring the HENDERSON® and DEJANA® brands [6]. Leadership Transition - Jim Janik has stepped down as Chairman effective April 30, 2025, after decades of leadership, while continuing as a Board member [1][2]. - Don Sturdivant, who has been on the Board since 2010 and Lead Director since 2023, is recognized for his strategic acumen and managerial experience, making him well-suited for the Chairman role [2][3]. - With Sturdivant's appointment, the Board will eliminate the Lead Director position [3]. Don Sturdivant's Background - Sturdivant is an Operating Partner at TruArc LLC, focusing on the Specialty Manufacturing Sector, and has held CEO positions at FleetPride, Inc. and Marietta Corporation [4][5]. - His previous executive roles include Chief Operating Officer at Altivity Packaging and Division President at Graphic Packaging International and Fort James Corporation [5].