2 The business area 2024 profitability outlook is presented using the same principles which are applied in the 2023 external financial reporting.

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To provide a basis for comparison, Cargotec published on 3 July 2024 its reclassified financial information of reportable segments and Corporate administration and support functions for all quarters of 2023 and the first quarter of 2024 separately, as well as for the full year 2023. Corporate administration and support functions now reflect continuing operations while Hiab and MacGregor financial information remained unchanged.

The completion of the partial demerger of Cargotec Corporation and the incorporation of a new Kalmar Corporation was registered in the Finnish Trade Register on 30 June 2024. As a result of the partial demerger, Cargotec updated its segment reporting. The new reporting structure was used in the half-year financial report January–June 2024 for the first time. From 30 June 2024 onwards Cargotec has two reporting segments, Hiab and MacGregor. The Kalmar segment was removed.

Following the strong third quarter performance in both divisions, we specified our outlook for 2024. Cargotec now estimates Hiab’s comparable operating profit margin in 2024 to be above 14.0 percent and MacGregor’s comparable operating profit in 2024 to be above EUR 65 million. In the outlook specified in August, we estimated Hiab’s comparable operating margin to be above 13.5 percent and MacGregor’s comparable operating profit to be above EUR 55 million.

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A live international telephone conference for analysts, investors and media will be arranged on the publishing day at 10:00 a.m. EEST. The event will be held in English. The report will be presented by President and CEO of Cargotec Casimir Lindholm, CFO Mikko Puolakka and President of Hiab Scott Phillips. The presentation material will be available at www.cargotec.com by the latest 9:30 a.m. EEST.

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To ask questions, please join the teleconference by registering via the following link:https://palvelu.flik.fi/teleconference/?id=50049133. After the registration, the conference phone numbers and a conference ID to access the conference will be provided. Questions can be presented during the conference.

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The event can also be viewed as a live webcast at https://cargotec.videosync.fi/q3-2024. The conference call will be recorded and an on-demand version of the conference will be published at Cargotec’s website later during the day.

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The third quarter was the seventh quarter in a row with good and stable results for Cargotec. Operational performance remained solid and there were no significant changes in the market environment which remained mixed. Expectations on lower interest rates and uncertainty in some of Hiab’s key geographies and industries continued to delay customer decision making. On the other hand, MacGregor continued to benefit from the strong ship building cycle.

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We announced in May that we had started the sales process of MacGregor, aiming to find a solution in 2024. The process has progressed according to plan and after good developments in October we target signing the deal before the year end. We are currently carving out MacGregor from Cargotec and building standalone capabilities for the business. We have also continued to prepare Hiab for its standalone future. During the third quarter, we also successfully completed the final part of the Kalmar separation in just 16 months from the demerger announcement.

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In its outlook specified on 8 August 2024, Cargotec estimated Hiab’s comparable operating profit margin in 2024 to be above 13.5 percent and MacGregor’s comparable operating profit in 2024 to be above EUR 55 million.

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Among the below presented key figures, statement of income related components and operating cash flow before financing items and taxes include both continuing and discontinued operations in all presented periods. The key figures including components from the balance sheet (interest-bearing net debt at the end of the period, gearing, return on capital employed) include discontinued operations in all presented periods, except months starting from June 2024.

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Please note that by dialling to the conference call, the participant agrees that personal information such as name and company name will be collected.

Cargotec estimates2 Hiab’s comparable operating profit margin in 2024 to be above 14.0 percent and MacGregor’s comparable operating profit in 2024 to be above EUR 65 million.

Taking a look at our financial performance, Cargotec’s orders received in the third quarter increased, driven by both businesses and totalled EUR 597 million. Cargotec’s consolidated order book declined from the comparison period as Hiab's order book has gradually been returning to a more normal level. Sales amounted to EUR 590 million. The decrease in Hiab’s sales was offset by increased sales in MacGregor. Our comparable operating profit increased by 14 percent to EUR 70 million or 11.8 percent of sales. Once again, cash flow from operations before finance items and taxes was very strong, driven by good profitability and reduction in net working capital and totalled EUR 148 million. For the first time in Cargotec’s history, we have a net cash position.

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Cargotec’s (Nasdaq Helsinki: CGCBV) businesses Hiab and MacGregor enable smarter cargo flow for a better everyday with leading cargo handling solutions and services. Hiab is a leading provider of smart and sustainable on road load-handling solutions, committed to delivering the best customer experience every day with the most engaged people and partners. MacGregor is a leader in sustainable maritime cargo and load handling with a strong portfolio of products, services and solutions. Cargotec's sales in 2023 totalled approximately EUR 2.5 billion and it employs over 6,000 people. www.cargotec.com

*Due to Kalmar business area's classification as discontinued operations, suspended depreciation and amortisation starting from 1 February 2024 had a positive EUR 17.9 million impact on the presented result figures before taxes and EUR 13.4 million positive impact on the result after taxes. Comparative information is not restated accordingly.

In Hiab, the demand has remained on a stable level since the fourth quarter of 2022. Delayed decision making continued due to expectations on lower interest rates and market uncertainty. However, we were able to book some larger key account orders which were postponed from the second quarter, boosting Hiab’s orders received to increase by 16 percent from the comparison period to EUR 361 million. Hiab’s sales decreased by 8 percent to EUR 388 million. Share of service sales increased to 29 percent of Hiab’s sales and amounted to EUR 112 million. Despite lower sales, Hiab’s profitability remained on a good level and the comparable operating profit amounted to EUR 59 million, corresponding to 15.3 percent of sales. Hiab’s comparable operating profit was supported by successful management of inflationary pressures as well as sourcing and supply chain actions.

In MacGregor, the strong performance in merchant and service businesses continued. Orders received increased by 12 percent to EUR 236 million, driven by continued strong momentum in the ship building market. MacGregor’s order book continued to increase and amounted to EUR 1,055 million. The order book gives good visibility for the coming years as, due to the limited shipyard capacity, approximately 40 percent of the order book is scheduled to be delivered in 2026 or later. MacGregor’s sales increased by 13 percent to EUR 203 million, driven by merchant business. Due to higher sales and supported by lower losses from the offshore projects, MacGregor’s comparable operating profit improved yet again against the comparison period, reaching EUR 20 million or 9.6 percent of sales.