Traton : Annual Results Conference 2024 – Presentation, 2024/03/05

ANNUAL RESULTS CONFERENCE 2024

Christian Levin, CEO

Dr. Michael Jackstein, CFO & CHRO

Munich, 3/5/2024

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AGENDA

1. Key results & highlights
2. Review of financial performance
3. Full year 2024 outlook
4. Backup

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DISCLAIMER

This presentation has been prepared for information purposes only.

It does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of Volkswagen AG, TRATON SE, or any company of the TRATON GROUP in any jurisdiction. Neither this presentation, nor any part of it, nor the fact of its distribution, shall form the basis of, or be relied on in connection with, any contractual commitment or investment decision in relation to the securities of Volkswagen AG, TRATON SE, or any company of the TRATON GROUP in any jurisdiction, nor does it constitute a recommendation regarding any such securities.

It contains forward-looking statements and information on the business development of the TRATON GROUP. These statements and information are based on assumptions relating in particular to the TRATON GROUP's business and operations and the development of the economies in the countries in which the TRATON GROUP is active.

The TRATON GROUP has made such forward-looking statements on the basis of the information available to it and assumptions it believes to be reasonable. The forward-looking statements and information may involve risks and uncertainties, and actual results may differ materially from those forecasts. If any of these or other risks or uncertainties materialize, or if the assumptions underlying any of these statements prove incorrect, the actual results may significantly differ from those expressed or implied by such forward-looking statements and information. The TRATON GROUP will not update this presentation, particularly not the forward-looking statements. The presentation is valid on the date of publication only.

Certain financial information and financial data included in this presentation are preliminary, unaudited, and may be subject to revision. Due to their preliminary nature, statements contained in this presentation should not be unduly relied upon, and past events or performance should not be taken as a guarantee or indication of future events or performance. Financial figures might be translated from different currencies, using the exchange rate prevailing at the relevant date or for the relevant period that the relevant financial figures relate to.

All statements with regard to markets or market position(s) of TRATON SE or any affiliated company or any of its competitors are estimates based on data available to the TRATON GROUP.

The percentage figures shown may be subject to rounding differences. Due to different proportions and scaling in graphs, data shown in different graphs are not comparable.

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KEY RESULTS & HIGHLIGHTS

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A VERY SUCCESSFUL YEAR 2023 FOR

TRATON GROUP

Vehicles	Sales	Adjusted	Net cash flow	Earnings
sold	revenue	return on sales	TRATON	per share
			Operations

338,183	€46.9 bn	8.6%	€3.6 bn1	€4.90
+11% YoY	+16% YoY	+3.5 pp YoY	+€4.2 bn YoY	+€2.62 YoY

1 Including effects from the sale of the Russia activities and the adjustment of the ownership structure of the financial services business amounting to €899 million.

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WE CONTINUE TO DELIVER -

THE TRATON WAY FORWARD

MAN re-alignment successfully	TRATON Financial Services	TRATON Modular System
executed, supporting strong	established and expanded	driven forward, first deliveries
profitability step-up		of the International S13
		Integrated Powertrain

TRATON advances on its way to become a more sustainable company

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WE ARE TRANSFORMING TRANSPORTATION - 2023 BEV HIGHLIGHTS

Market launch of the new	VWTB starts series production	Scania's battery assembly	Milence opens first charging	Navistar partners with	Scania & sennder establish
MAN eTruck	of e-Delivery truck	starts operations	hub for heavy-duty vehicles	Quanta Services	JUNA JV

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TRATON STILL BENEFITS FROM A WELL

FILLED ORDER BOOK

• Increased production in 2023 with more resilient supply chains.
• Unit sales up with shortening lead times.
• Incoming orders weaker:
• • Demand returned to normal in Europe, affecting MAN and Scania.
  • Navistar restrictive in acceptance of new orders.
  • South America (VWTB) affected by market weakness. In Brazil, heavy-duty truck orders recovered in H2 23, benefiting Scania.
• TRATON order book still well filled lasting into H2 24.

Incoming orders & Unit sales (k units)

			Incoming orders	Unit sales
110
100			Q4 22	Q4 23
90			88.3	88.7
80			78.4	75.2
70
60
50
40				FY 23
30				264.8 (-21%)
			338.2 (+11%)
20
10
0
2019	2020	2021	2022	2023

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REVIEW OF FINANCIAL PERFORMANCE

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TOP-LINE GROWTH DRIVEN BY HIGH NEW VEHICLES SALES

10 Investor Relations

Sales revenue benefited from:

• Tailwinds from market environment and improved supply chains.
• High unit sales of new vehicles.
• Favorable market and product mix.
• Better unit price realization.
• High customer demand for Vehicle Services business.

Unit sales (k units)

FY 23
338.2 (+11%)
		+0%
88.3	84.6	83.5		88.7
	81.4
Q4 22	Q1 23	Q2 23	Q3 23	Q4 23

Sales revenue (€ bn)

FY 23				Vehicle Services business
46.9 (+16%)
					+8%
							12.7
11.8			11.7
	11.2	11.3

2.2 2.2 2.2 2.1 2.2

Q4 22

Q1 23

Q2 23

Q3 23

Q4 23