Investor Relations Release: Daimler Truck with strong business development in Q3, updating full-year guidance

Daimler Truck Holding AG

Investor Relations Release

November 11, 2022

Daimler Truck with strong business development in Q3, updating full-year guidance

• Group unit sales significantly above prior-year level: 134,972 (Q3 2021: 106,304 units)
• Significant increase in revenue: € 13.5 billion (Q3 2021: € 9.2 billion)
• Adjusted Group EBIT increases to € 1,273 million (Q3 2021: € 491 million)
• Adjusted Return on Sales in Industrial Business of 9.4 % (Q3 2021: 5.4 %)
• Continuing strong demand environment, order backlog above prior-year level
• Company raises outlook for Group revenue, Group EBIT, Industrial Business revenue and adjusted Return on Sales in the Mercedes-Benz segment

Stuttgart - Daimler Truck Holding AG ("Daimler Truck") continued its profitable growth path with a strong business development in the third quarter despite ongoing supply chain constraints and headwinds from raw material and energy prices. The company was able to increase its Group unit sales year-on-year to 134,972 units in Q3 2022 (+ 27 %, Q3 2021: 106,304 units). Supported by this increase as well as improved net pricing, favorable effects from exchange rates (FX) and higher contributions from aftersales business, Group revenue significantly rose by 47 % to € 13.5 billion (Q3 2021: € 9.2 billion). Daimler Truck sees a continued strong demand environment. The order backlog has increased compared to the prior-year level.

Group EBIT (adj.) increased by 159 % to € 1,273 million in the reporting period (Q3 2021: € 491 million). In the Industrial Business (IB), EBIT (adj.) of € 1.223 million was 158 % higher than in the same period of the prior year (€ 475 million). The adjusted Return on Sales (ROS adj.) aggregates to 9.4 % (Q3 2021: 5.4 %).

Jochen Goetz, CFO of Daimler Truck: "Daimler Truck is well on its way to making its first financial year as an independent company also a year of success. This is underlined by our strong business development in the third quarter, despite continuing challenges in the supply

Daimler Truck Holding AG	Daimler Truck Holding AG
Domicile and Court of Registry: Stuttgart, Commercial Register No.: 778600	Fasanenweg 10
Chairman of the Supervisory Board: Joe Kaeser	70771 Leinfelden-Echterdingen
Board of Management: Martin Daum, Chairman;	Phone [phone]
Karl Deppen, Jochen Goetz, Andreas Gorbach, Jürgen Hartwig, John O'Leary, Karin Rådström, Stephan Unger	Fax [phone]
	www.daimlertruck.com

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chain as well as in raw material and energy prices. Our year-end sprint is now all about maintaining this momentum and delivering as many ordered vehicles as possible to our customers."

Outlook 2022

Reflecting the favorable business development in Q3, Daimler Truck is now expecting its revenue on Group level to be in the range between € 50 to 52 billion in 2022. For its Industrial Business Daimler Truck is now expecting the revenue to be in the range between € 48 - 50 billion (previously € 46 - 48 billion). Regarding the sustained positive development, the company is now expecting an adjusted Return on Sales (ROS adj.) of 7 - 9 % for the Mercedes-Benz segment (previously 6 - 8 %). Accordingly, the forecast for Group EBIT is updated to "slight increase" (previously "at prior-year level"). For the Industrial Business, Daimler Truck continues to expect an adjusted Return on Sales (ROS adj.) of 7 - 9 % for the fiscal year 2022. The full-year forecasts for the other segments remain unchanged compared to the outlook from the second quarter.

Daimler Truck's outlook assumption considers that the overall macroeconomic conditions will continue to be comparatively favorable for the global demand in commercial vehicles for the remainder of 2022. The company's outlook is especially subject to the further developments in the Russia-Ukraine war and its impact on the global economy as well as the development of the very high inflationary pressure and the associated central-bank increases in interest rates. The further macroeconomic, geopolitical as well as the COVID-19 pandemic development and ongoing supply bottlenecks also harbor an exceptional degree of uncertainty. However, Daimler Truck assumes no major production downtimes due to missing parts or due to the unavailability of gas.

Key Figures - Group and Segments

Group (in units, in mill. €, in percent)

	Q3		Q3		+/-	Q1-Q3	Q1-Q3	+/-
	2021		2022		2021	2022
Group Sales	106,304		134,972		27%	324,513	365,219	13%
Revenue	9,160		13,507		47%	28,418	36,162	27%
EBIT (adjusted)	491		1,273		159%	1.958	2.934	50%
ROS (adjusted) (Industrial Business)	5.4		9.4		-	6.7	7.9	-
Free Cash Flow (Industrial Business)	-782		592		-	649	-91	-
Incoming Orders	166,181		135,569		-18%	447,564	385,702	-14%

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Trucks North America (in units, in mill. €, in percent)

	Q3		Q3		+/-	Q1-Q3	Q1-Q3	+/-
	2021		2022		2021	2022
Unit Sales	34,604		49,171		42%	114,530	136,772	19%
Revenue	3,603		6,155		71%	11,185	15,889	42%
EBIT (adjusted)	351		738		111%	1,205	1,648	37%
ROS (adjusted)	9.7		12.0		-	10.8	10.4	-

Mercedes-Benz (in units, in mill. €, in percent)

	Q3		Q3		+/-	Q1-Q3	Q1-Q3	+/-
	2021		2022		2021	2022
Unit Sales	31,691		42,305		33%	101,783	114,880	13%
Revenue	3,682		5,153		40%	11,788	14,338	22%
EBIT (adjusted)	114		474		316%	534	1.327	148%
ROS (adjusted)	3.1		9.2		-	4.5	9.3	-

Trucks Asia (in units, in mill. €, in percent)

	Q3		Q3		+/-	Q1-Q3	Q1-Q3	+/-
	2021		2022		2021	2022
Unit Sales	38,072		41,535		9%	102,967	108,232	5%
Revenue	1,422		1,676		18%	4,355	4,643	7%
EBIT (adjusted)	117		43		-63%	316	104	-67%
ROS (adjusted)	8.3		2.6		-	7.2	2.2	-

Daimler Buses (in units, in mill. €, in percent)

	Q3		Q3		+/-	Q1-Q3	Q1-Q3	+/-
	2021			2022		2021	2022
Unit Sales	4,477			6,283		40%	12,669	14,940	18%
Revenue	810			941		16%	2,043	2,439	19%
EBIT (adjusted)	6			23		304%	-53	-32	40%
ROS (adjusted)	0.7			2.5		-	-2.6	-1.3	-

Financial Services (in units, in mill. €, in percent)

	Q3		Q3		+/-	Q1-Q3Q1-Q3	+/-
	2021			2022		2021	2022
New Business	1,500			2,548		70%	4,184	6,479	55%
Revenue	306			480		57%	858	1,187	38%
EBIT (adjusted)	17			50		198%	121	167	38%
ROE (adjusted)	4.0			9,6		-	10.4	11.9	-

The terms adjusted EBIT (EBIT adj.), adjusted Return on Sales (ROS adj.), adjusted Return on Equity (ROE adj.), Free Cash Flow (industrial business) are defined on page 43 of the Daimler Truck Annual Report 2021.

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Additional information and documents (Interim Report, Capital Market Presentation, Factbook etc.) including a detailed Q3 disclosure on Daimler Truck's five reporting segments are available online in Daimler Truck's investor relations section:

https://www.daimlertruck.com/investors/financial-calendar/disclosure/q3-2022/

Forward-looking statements:

This document contains forward-looking statements that reflect our current views about future events. The words "anticipate," "assume," "believe," "estimate," "expect," "intend," "may," "can," "could," "plan," "project," "should" and similar expressions are used to identify forward-looking statements. These statements are subject to many risks and uncertainties, including an adverse development of global economic conditions, in particular a decline of demand in our most important markets; a deterioration of our refinancing possibilities on the credit and financial markets; events of force majeure including natural disasters, pandemics, acts of terrorism, political unrest, armed conflicts, industrial accidents and their effects on our sales, purchasing, production or financial services activities; changes in currency exchange rates, customs and foreign trade provisions; a shift in consumer preferences towards smaller, lower-margin vehicles; a possible lack of acceptance of our products or services which limits our ability to achieve prices and adequately utilize our production capacities; price increases for fuel or raw materials; disruption of production due to shortages of materials, labor strikes or supplier insolvencies; a decline in resale prices of used vehicles; the effective implementation of cost-reduction and efficiency-optimization measures; the business outlook for companies in which we hold a significant equity interest; the successful implementation of strategic cooperations and joint ventures; changes in laws, regulations and government policies, particularly those relating to vehicle emissions, fuel economy and safety; the resolution of pending government investigations or of investigations requested by governments and the conclusion of pending or threatened future legal proceedings; and other risks and uncertainties, some of which are described under the heading "Risk and Opportunity Report" in this Annual Report. If any of these risks and uncertainties materializes or if the assumptions underlying any of our forward-looking statements prove to be incorrect, the actual results may be materially different from those we express or imply by such statements. We do not intend or assume any obligation to update these forward-looking statements since they are based solely on the circumstances at the date of publication.

Daimler Truck Share

Listed Entity: Daimler Truck Holding AG

ISIN: DE000DTR0CK8

Ticker Symbol:DTG

Daimler Truck Level I ADR Program

Symbol: DTRUY

ISIN: US23384L1017

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