The document discusses forward-looking statements and non-GAAP measures used by The Manitowoc Company. It summarizes Manitowoc's performance in Q1 2017, including a 56% increase in backlog and new product orders accounting for nearly half of total orders. It also outlines Manitowoc's strategic priorities such as margin expansion, growth, and innovation through actions like cost management and new product development.

1. The Manitowoc Company, Inc.
SUNTRUST MIDWEST INDUSTRIAL CONFERENCE
KOHLER, WI, JUNE 22, 2017

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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. For a list of factors that could cause
actual results to differ materially from those discussed or implied, please see the company’s periodic filings
with the SEC, particularly those disclosed in “Risk Factors” in the company’s Form 10-K for the fiscal year
ended December 31, 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 company
believes that these non-GAAP financial measures provide important supplemental information to both
management and investors regarding financial and business trends used in assessing its results of
operations; however, these measures are not substitutes for GAAP financial measures. The reconciliation of
those measures to the most comparable GAAP measures is detailed in Manitowoc’s press release for the
first-quarter of 2017, which is available at www.manitowoc.com, together with this presentation.

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 Global leader in lifting equipment
 Global customer financing and aftermarket solutions
 Serving wide range of end markets
 Stable customer base across diverse range of geographies
 Strategically located manufacturing footprint allows us to serve
attractive markets globally
 Leader in innovation
 Expect significant upside from near-term operational improvements
Industry-Leading Crane Company
Early stages of transformation to a high quality, higher margin
crane company compared to peers

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Strong Aftermarket Solutions
Aftermarket Parts
and Service
Skills Training
Financing
Rebuild/Refurbish
Special Applications
Fleet Management/
Diagnostics (Tower)

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Transformation: The Conditions are Right
Stand-alone Crane Company
• Foodservice spin-off complete
• Right-sizing for new company structure
Re-Capitalized Balance Sheet
• Sufficient liquidity
• Working capital focus
Operationally Focused Management Team
• Demonstrated record of turnarounds
• Lean acceleration to drive margin improvement
Cyclical Down-Turn
• Increasing manufacturing flexibility to manage through the cycle

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Global Footprint
Manufacturing footprint and extensive sales and customer service reach to serve
both mature and emerging markets

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The Manitowoc Way
Customers
Shareholders Employees
Velocity
Innovation
1. Margin
Expansion
2. Growth
3. Innovation
4. Velocity

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Strategic Priorities
• Renew Focus on Quality & Reliability
• Strengthen Channel Management
• Increase Market Share
• Optimize Global Capacity
• Increase Manufacturing Agility
• Improve Productivity
• Reduce Material Cost
• Accelerate New Product Development
• Leverage Advanced Manufacturing Technologies
Margin Expansion
Growth
Innovation
Velocity
• Implement The Manitowoc Way
• Re-invigorate the Company Culture
• Strengthen Balance Sheet by Better Working Capital Mgmt.

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Progress on Strategic Priorities
• Eight new crane introductions at
ConExpo
• Two cranes developed from ground
up in six months
• Aligning capacity to current demand
-- plant relocations on schedule
• Unwavering focus on cost
management and to eliminate waste
• Key account management program
• Military project on schedule
• Aftermarket initiatives
Margin Expansion
Innovation
Growth
Velocity
• Implement The Manitowoc Way
• Kaizen-driven success stories
Actions to Target Double Digit Operating Margins (EBITA) by 2020

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ConExpo 2017 Summary
• Over one year of planning
• 5 weeks to construct the stand
• 5 days on the show
• 12 cranes on display (8 brand new)
• 25+ customer celebrations & crane handovers
• 128,000 attendees from 150 countries
• Excellent customer reception to new products
• Orders exceeded expectations

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ConExpo 2017

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ConExpo 2017

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ConExpo 2017

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ConExpo 2017

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A P P E N D I X

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• Strong customer reception to new products at ConExpo
• Mobile cranes: Soft market conditions in Americas &
Middle East
• Tower cranes: stable, in line with expectations
Q1 2017 Summary
• Backlog up 56% sequentially
• Nearly half of order from new products
• Revenue down 28.5 percent
• Focused actions to manage costs and right-size the
business
• Improved cash flow YOY with no borrowings on ABL
facility at quarter end
Financial
Summary
Business
Highlights

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Financial & Other Key Metrics
(1) Please see appendix for reconciliation of GAAP to non-GAAP measures
(2) Cash Flow from Operating Activities of continuing operations
(3) Reflects the retrospective change in accounting for inventories from LIFO to FIFO in 2016
Q1 2017 Q1 2016 (3)
YoY ∆
Orders 488.3$ 417.1$ 17.1 %
Net Sales 305.8$ 427.4$ (28.5)%
SG&A Expense 63.3$ 72.4$ (12.5)%
Operating (loss) income (23.7)$ 0.8$ n/m
Non-GAAP adjusted operating
(loss) income (1)
(11.4)$ 7.3$ n/m
Net Loss from contiuing
operations
(36.0)$ (192.7)$ 81.3 %
Non-GAAP adjusted net loss from
continuing operations (1)
(24.2)$ (7.6)$ n/m
Non-GAAP Adjusted EBITDA (1) (0.8)$ 19.5$ n/m
CFOA (2) (32.5)$ (163.4)$ 80.1 %
Capital Expenditures 3.8$ 10.9$ (65.2)%
Backlog 506.3$ 502.3$ 0.8 %
Book-to-bill 1.60 0.98 63.6 %

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Situational Analysis
• Uncertainty on industry trough
• Depressed energy markets
• Infrastructure investments
• Lower resale values
• Lower rental rates
• Lower utilization rates
Mobiles
Persistently weak market
conditions;
Looking for signs of
stabilization
Towers
• Residential and Commercial
market recovery
• Stable resale values
• Flat rental rates
• Strengthening utilization rates in
Europe and North America,
declining in Latin America and
Middle East
Weak market environment; but
improving

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Crane volumes are currently near cyclical lows (# of units sold)
Historical Manitowoc Crane Volume
Towers
2009 2010 2011 2012 2013 2014 2015 2016
MOBILES
2009 2010 2011 2012 2013 2014 2015 2016

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