Manitex International : Second Quarter 2021 Earnings Conference Call , August 3 2021

MANITEX INTERNATIONAL, INC.

NASDAQ: MNTX

Second Quarter 2021 Earnings Conference Call

August 3, 2021

Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995: This presentation contains statements that are forward-looking in nature which express the beliefs and expectations of management including statements regarding the Company's expected results of operations or liquidity; statements concerning projections, predictions, expectations, estimates or forecasts as to our business, financial and operational results and future economic performance; and statements of management's goals and objectives and other similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "we believe," "we intend," "may," "will," "should," "could," and similar expressions. Such statements are based on current plans, estimates and expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause the Company's future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. These factors and additional information are discussed in the Company's filings with the Securities and Exchange Commission and statements in this presentation should be evaluated in light of these important factors. Although we believe that these statements are based upon reasonable assumptions, we cannot guarantee future results. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

2 NASDAQ : MNTX

Highlights

• Exciting sales growth: Q2 2021 sales of $60.0 million, vs. $47.2 million in Q1 2021 and vs $37.1 million in Q2 2020
• 7.1% Adjusted EBITDA margin in Q2 2021 represents fourth consecutive quarter of EBITDA margin expansion, making solid progress to 10% long-term target
• Adjusted Net Income (excluding PPP/other expense) was $2.2 million, 11 cents per share.
• $111 million backlog at 5-year high;
• • Order rate remains strong;
  • PM Group, Manitex, Valla zero-emission industrial cranes all gaining share
  • PM and Valla account for 60% backlog compared to below 30% in 2018

Balance Sheet and Credit

Operations

• $25.4 million Total Net Debt
• $37 million in Total Cash and Credit Availability
• Improved Operating Cash Flow at PM Group

• All facilities currently operational and ramping up to meet higher demand
• Supply chain constraints remain challenging and higher input costs being managed daily with our suppliers
• Disciplined pricing and discount structures implemented with our dealers and customers
• Continued focus on COVID-19 health and safety protocols

3 NASDAQ : MNTX

• Strong performance in Q2 was driven by excellent operational execution globally:

PM Group performance continues to accelerate and delivering higher revenues and Adjusted EBITDA

• Global knuckle boom market continues to grow globally
• Ramping up to meet demand and deliver backlog
• Launching several new products to access new markets

North American straight mast recovery continued to drive improvement in revenues and Adjusted EBITDA

• Production ramp up continued to deliver strong results in Q2
• Working through supply chain issues with truck chassis shortages
• Current annualized market statistics showing 1,400 straight mast market into 2022

Oil & Steel Aerials global growth and market share gains continue

• Rental customers regaining confidence as market improves
• European market driving growth

Valla zero-emission cranes ramping up to meet higher demand

• New product launches gaining excellent market reception
• Expanding dealer network in Europe and North America
• Excellent reception at recent Trade Show in France

4 NASDAQ : MNTX

Sales Recovery

$60.0
$55.0
$50.0
$45.0
$40.0
$35.0
$30.0
$25.0
$20.0
Q3 20	Q4 20	Q1 21	Q2 21
Sales 36.5	45.2	47.2	60.0

EBITDA Acceleration

$5.0 $4.0 $3.0 $2.0 $1.0

$0.0		Q3 20		Q4 20		Q1 21		Q2 21
Adj EBITDA		1.0		1.5		1.9		4.2

Nearing 20%

20.0%

10.0%

0.0%		Q3 20		Q4 20		Q1 21		Q2 21
Gross Margin		18.3%		18.7%		18.7%		19.1%

5-Yr Backlog Peak

$120.0

$100.0

$80.0

$60.0

$40.0

$20.0

$0.0		Q3 20		Q4 20		Q1 21		Q2 21
Backlog		50.5		68.0		83.8		111.2

5	NASDAQ : MNTX	Notes: Results shown are from Continuing Operations, All numbers expressed in Millions
		except Gross Margin.