Q4 2016 Earnings Conference Call

February 2, 2017 Barry Pennypacker – President & Chief Executive Officer

Dave Antoniuk – SVP & Chief Financial Officer

Ion Warner – VP Marketing & Investor Relations

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Forward- Looking Statements

Safe Harbor Statement

Any statements contained in this presentation that are not historical facts are “forward-looking statements.” These statements are based on the current expectations of the management of the company, only speak as of the date on which they are made, and are subject to uncertainty and changes in circumstances. We undertake no obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements include, without limitation, statements typically containing words such as “intends,” “expects,” “anticipates,” “targets,” “estimates,” and words of similar import. By their nature, forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future.

There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements. These factors include, but are not limited to, those relating to revenue growth of the company, future market strength of the company’s business segments and products, market acceptance of existing products and new product introductions and technology, economic conditions, successful acquisitions, manufacturing and facility utilization efficiencies, risks relating to actions of activist shareholders, and other factors listed in the company’s preliminary offering circular with respect to the notes, dated May 5, 2016. Any “forward-looking statements” in this presentation are intended to qualify for the safe harbor from liability under the Private Securities Litigation Reform Act of 1995.

Non-GAAP Measures

The company uses certain non-GAAP measures in discussing the company’s performance. The reconciliation of those measures to the most comparable GAAP measures is detailed in Manitowoc’s press release for the fourth quarter of 2016, which is available at www.manitowoc.com, together with this presentation.

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• Americas – continued weakness • Europe – improved over prior quarter • Middle East – significant declines year-over-year • Favorable customer demand with new products • Continued low used crane values • Lower rental rates

Q4 2016 Summary

• Revenue of $378.2 million in line with expectations • $57.8 million of Net Cash Flow from operations • $100 million reduction in inventory

Financial Summary

Business Highlights

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Progress on Strategic Priorities

• 2016 new model launches: 8 mobiles and 9 towers • 6 new crane introductions at ConExpo

• Aligning capacity to current demand -- plant relocations on schedule • Re-sizing the organization

• Improvements in quality and reliability –> market share gains

• Military project on schedule

Margin Expansion

Innovation

Growth

Velocity • Implement The Manitowoc Way

Actions to Target Double Digit Operating Margins (EBITA) by 2020

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Financial & Other Key Metrics

(1) Please see press release for reconciliation of GAAP to non-GAAP measures (2) Reflects election of FIFO method of accounting for inventories in Q4, 2016

Q4 2016 Q4 2015 YoY ∆ Q3 2016 QoQ ∆

Orders 348.3$ 424.5$ (18.0)% 309.9$ 12.4 %

Net sales 378.2$ 543.1$ (30.4)% 349.8$ 8.1 %

SG&A expense 61.9$ 77.1$ (19.7)% 73.0$ (15.2)%

Operating income/ (loss) (23.8)$ (13.9)$ (71.2)% (133.5)$ 82.2 %

Non-GAAP adjusted operating (loss)

income (1)

(16.4)$ 11.1$ n/m (31.5)$ 47.9 %

Non-GAAP Adjusted EBITDA (1) (5.7)$ 22.6$ n/m (20.9)$ 72.7 %

Net Inventory (2) 429.0$ 489.2$ (12.3)% 529.1$ (18.9)%

Net cash (used for) provided by

operating activities of continuing

operations

57.8$ 51.3$ 12.7 % (1.4)$ n/m

Capital expenditures 11.1$ 23.0$ (51.7)% 10.1$ 9.9 %

Backlog 323.8$ 512.6$ (36.8)% 353.6$ (8.4)%

Book-to-bill 0.92 0.78 17.8 % 0.89 4.0 %

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2017 Guidance

2017 Guidance

Revenue Down approximately 8 - 10% year-over-year

Adjusted EBITDA Approximately $41 to $59 million

Adj. operating income % Approximately zero to 1%

Depreciation Approximately $40 to $45 million

Amortization of intangibles Approximately $2 to $2.5 million

Capital expenditures Approximately $30 million

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