TRATON : 3M 2023 Interim Statement

3M 2023

Interim Statement as of March 31, 2023

AT A GLANCE

		Sales revenue rose
		€11.2
Incoming orders	Unit sales	by 3 % to around
down by	25%
28%
higher at
84,587 vehicles
		billion

Adjusted operating result €534 million higher at around

€935

million

Increase in

adjusted

operating return

on sales to

8.4%

Trucks and buses (units)		3M 2023		3M 2022	Change
Incoming orders	68,470	95,594	-28%
Unit sales	84,587	67,767	25%
of which trucks	70,208	57,575	22%
of which buses	7,618	5,929	28%
of which MAN TGE vans	6,761	4,263	59%
TRATON GROUP
Sales revenue (€ million)	11,186	8,525	31%
Operating result (adjusted) (€ million)	935	402	534
Operating return on sales (adjusted) (in %)	8.4	4.7	3.7 pp
Earnings per share (€)	1.11	0.84	0.27
Active employees1	100,353	100,356	-3
TRATON Operations
Sales revenue (€ million)	10,940	8,363	31%
Operating result (adjusted) (€ million)	987	441	546
Operating return on sales (adjusted) (in %)	9.0	5.3	3.8 pp
Primary R&D costs (€ million)	520	421	23%
Capex (€ million)	216	229	-6%
Net cash flow (€ million)	737	139	597
TRATON Financial Services
Sales revenue (€ million)	352	297	18%
Operating result (adjusted) (€ million)	82	71	11
Operating return on sales (adjusted) (in %)	23.3	24.0	-0.7 pp
Return on equity (in %)		-3.9	9.3	-13.3 pp

1 As of March 31, 2023, and December 31, 2022

CONTENTS Course of Business	Selected Financial Information
4	15
Material Events	Income Statement
5	16
Incoming Orders and Unit Sales by Country, TRATON Operations	Condensed Statement of Comprehensive Income
6	17
Operating Result (Adjusted) of the TRATON GROUP	Balance Sheet
8	19
Segments of the TRATON GROUP	Statement of Cash Flows
11	20
Net Cash Flow	Contingent Liabilities and Commitments
12	21
Net Liquidity/Net Financial Debt	Segment Reporting
12	23
TRATON SE (German GAAP)	Financial Calendar
13
Report on Expected Developments

This Interim Statement was prepared in accordance with section 53 of the Exchange Rules for the Frankfurter Wertpapierbörse (FWB) and does not constitute an interim financial report as defined in International Accounting Standard (IAS) 34 Interim Financial Reporting. It does not contain any related party disclosures and hence departs from the guidance for preparing interim management statements in Sweden proposed by Nasdaq Stockholm. This Interim Statement has not been reviewed by an auditor.

This Interim Statement contains certain forward-looking statements for the remaining months of fiscal year 2023. A range of known and unknown risks, uncertainties, and other factors may result in the actual results, financial position, development, or performance of the TRATON GROUP differing materially from the estimates given here. Such factors include those that TRATON has described in published reports. These reports are available on our website at www.traton.com. The Company does not assume any obligation to update such forward-looking statements or to adapt them to future events or devel- opments.

The figures relating to net assets, financial position, and results of operations were prepared in accordance with International Financial Reporting Standards (IFRSs), as adopted by the European Union. All figures shown are rounded, so minor discrepancies may arise from addition of these amounts. The current definition of the key performance indicators can be found in the annual report published for the previous year. This report can be downloaded from our website at https://annualreport.traton.com/2022/en/traton-annual-report-2022.pdf.

The latest financial calendar information and dates are available on TRATON SE's website at www.traton.com/financialcalendar.

4	TRATON GR OUP
3M 2023 INTERIM STATEMENT

COURSE OF BUSINESS

4 Course of Business

1. Material Events
2. Incoming Orders and Unit Sales by Country, TRATON Operations
3. Operating Result (Adjusted) of the
   TRATON GROUP

1. Segments of the TRATON GROUP

1. Net Cash Flow
2. Net Liquidity/Net Financial Debt

1. TRATON SE (German GAAP)
2. Report on Expected Developments

15 Selected Financial Information

Material Events

The TRATON GROUP generated sales revenue of €11.2 billion (3M 2022: €8.5 ­billion) in the first quarter of 2023. Operating result (adjusted) was €939 million (3M 2022: €402 million), operating return on sales (adjusted) came in at 8.4% (3M 2022: 4.7%). This development was primarily attributable to a strong improvement in operating result in our Scania Vehicles & Services, MAN Truck & Bus, and Navistar Sales & Services segments, on the back of an increase in the New Vehicles business. This was made possible by a higher production volume that resulted from an improved supply situation. In light of this, the TRATON GROUP's Executive Board decided to increase the forecast range for operating return on sales (adjusted) to between 7.0 and 8.0%.

The planned sale of Scania Finance Russia was completed on January 17, 2023, following receipt of all regulatory approvals. The sale proceeds amounted to €400 million. Scania Finance Russia recorded negative accumulated other comprehensive income of €102 million from currency translation effects, which was reclassified to the income statement upon disposal.

At its meeting on March 20, 2023, the TRATON GROUP's Supervisory Board revised the composition of the Company's Executive Board. The appointment of Christian Levin, Chairman of the Executive Board of TRATON SE and Chief Executive Officer of Scania CV AB, was renewed until January 2029. Further- more, Executive Board member Antonio Roberto Cortes, who is also Chief Executive Officer of Volkswagen Truck & Bus, will remain on the Executive Board until January 2027. Since April 1, 2023, Dr. Michael Jackstein has been heading the combined Finance and Human Resources division of TRATON SE, which also includes the Business Development division. At the same time, the introduction of the new Global Product Management area of responsibility at the Executive Board level safeguards the heart of the business model - the strategic and operational integration of the commercial and industrial systems of the four brands and coordinated Group functions. Catharina Modahl Nilsson has been responsible for this since April 1, 2023.

5	TRATON GR OUP
3M 2023 INTERIM STATEMENT

4 Course of Business

1. Material Events
2. Incoming Orders and Unit Sales by Country, TRATON Operations
3. Operating Result (Adjusted) of the
   TRATON GROUP

1. Segments of the TRATON GROUP

1. Net Cash Flow
2. Net Liquidity/Net Financial Debt

1. TRATON SE (German GAAP)
2. Report on Expected Developments

15 Selected Financial Information

Incoming Orders and Unit Sales by Country, TRATON Operations

												Incoming orders																				Unit sales
Units	3M 2023								3M 2022	Change								3M 2023								3M 2022	Change
Total	68,470	95,594	-28%	84,587	67,767	25%
BEV unit sales ratio (excluding MAN TGE vans, in %)	-								-	-	0.2	0.3	-0.1 pp
Trucks	53,610	79,529	-33%	70,208	57,575	22%
EU27+3	26,339	32,625	-19%	30,364	21,350	42%
of which in Germany	6,603	7,979	-17%	8,849	5,436	63%
North America	13,024	26,288	-50%	19,842	14,119	41%
of which in the USA/Canada	10,873	22,823	-52%	17,032	11,993	42%
of which in Mexico	2,151	3,465	-38%	2,810	2,126	32%
South America	7,265	14,237	-49%	12,247	15,912	-23%
of which in Brazil	5,571	10,708	-48%	9,804	13,152	-25%
Other regions	6,982	6,379	9%	7,755	6,194	25%
Buses	7,771	8,474	-8%	7,618	5,929	28%
EU27+3	1,306	1,639	-20%	1,120	852	31%
of which in Germany	245	351	-30%	315	206	53%
North America	4,076	4,043	1%	3,733	3,082	21%
of which in the USA/Canada	2,963	3,282	-10%	2,972	2,682	11%
of which in Mexico	1,113	761	46%	761	400	90%
South America	1,878	1,987	-5%	2,197	1,504	46%
of which in Brazil	1,513	1,141	33%	1,950	1,294	51%
Other regions	511	805	-37%	568	491	16%
MAN TGE vans	7,089	7,591	-7%	6,761	4,263	59%
EU27+3	6,964	7,570	-8%	6,670	4,191	59%
of which in Germany	2,673	3,127	-15%	2,513	1,676	50%