The Manitowoc Company, Inc.

RBC CAPITAL MARKETS GLOBAL INDUSTRIALS CONFERENCE

SEPTEMBER 5, 2018 LAS VEGAS, NV

Dave Antoniuk, SVP & CFO

Ion Warner, VP Marketing & IR

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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, 2017. 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 second-quarter of 2018, 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 (41 new products introduced since being a stand-alone crane company)

Industry-Leading Crane Company

Continued 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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Situational Analysis

Market recovery coming into focus

Geographic Exposure1

1 Reflects 2017FY sales

• Crane market seeing sustainable growth

• Americas: growth in U.S. commercial construction and energy end markets

• Western/Central Europe: Stable commercial and industrial demand

• APAC: Australia continues to improve

• Improving U.S. rental utilization rates

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State of the Business

Signs of Market Recovery from Cyclical Downturn

• Year-over-Year order growth

• Increasing manufacturing flexibility to manage through the cycle

Renewed Focus on Quality and Reliability

• Embed quality prior to new product delivery

• Winning back customers

Well Accepted New Products

• New crane shipments starting

• Continue NPD pipeline

Balance Sheet Focus

• Sufficient liquidity

• Cash flow focus

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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

• Implement VOC Process in 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

• Five new products introduced at Crane Days including new 100-ton crawler

• Pricing to offset input cost headwinds• Proactive support of supply chain

Margin Expansion

Innovation

Growth

Velocity

• Localized sourcing strategy leveraging available manufacturing capacity

• Deliver sales performance excellence using The Manitowoc Way principles

• China tower crane development and launch and factory transformation

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S e c o n d - Q u a r t e r 2 0 1 8 U p d a t e

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Financial (3) & Other Key Metrics

(1) Please see appendix for reconciliation of GAAP to non-GAAP measures(2) Cash Flow from Operating Activities(3) All financial data from continuing operations

Q2 2018 Q2 2017 Y/Y ∆

Orders 430.8$ 379.5$ 13.5 %

Net Sales 495.3 394.6 25.5 %

SG&A Expense 62.1 58.4 6.4 %

Operating income (loss) 24.1 11.9 102.8 %

Non-GAAP adjusted operating

income (loss) (1)

28.4 17.9 58.7 %

Income (loss) 9.9 0.7 NmN

Non-GAAP adjusted income (loss) (1) 14.3 6.5 120.0 %

Non-GAAP Adjusted EBITDA (1) 37.5 27.2 38.1 %

CFOA (2) (107.8) (81.4) (32.4)%

Non-GAAP CFOA (1) (5.7) (12.0) 52.5 %

Capital Expenditures 9.6 8.1 18.5 %

Backlog 692.1$ 491.2$ 40.9 %

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2018 Guidance- Updated

2018 Guidance

Revenue Approximately $1.775 to $1.850 billion

Adjusted EBITDA Approximately $105 to $115 million

Depreciation Approximately $36 million

Restructuring expense Approximately $13 to $15 million

Capital expenditures Approximately $25 to $30 million

Income tax expense Approximately $14 to $20 million

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• 1H 17, 2H 17, 1H 18 actual results

• 2H 18 at midpoint of updated external guidance

August 7, 2018 Guidance

4.0%

5.3%

6.2% 5.9%

0.0%

5.0%

10.0%

$500

$750

$1,000

1H 17 2H 17 1H 18 2H 18

Revenue EBITDA %

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Appendix

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Appendix- Adjusted EBITDA Reconciliation

Adjusted EBITDA and Non-GAAP Adjusted Operating Income (loss)

The company defines adjusted EBITDA as earnings before interest, taxes, depreciation and amortization, plus an addback of

certain restructuring charges. The reconciliation of GAAP net income (loss) to adjusted EBITDA and adjusted operating income

(loss) for the current and previous four quarters, as well as the trailing twelve months is as follows ($ in millions):

Trailing

Twelve

6/30/2018 3/31/2018 12/31/2017 9/30/2017 Months

Income (loss) from continuing operations $ 9.9 $ (10.0 ) $ 35.6 $ 9.7 $ 45.2

Interest expense and amortization of deferred

financing fees 9.8 10.5 10.3 10.1 40.7

Provision (benefit) for taxes (1.2 ) 3.9 (40.2 ) (13.1 ) (50.6 )

Depreciation expense 9.1 9.1 9.0 9.2 36.4

Amortization of intangible assets 0.1 0.1 0.1 — 0.3

EBITDA 27.7 13.6 14.8 15.9 72.0

Restructuring expense 3.8 6.2 5.9 3.7 19.6

Asset impairment expense 0.4 — 0.1 — 0.5

Other (income) expense - net (1) 5.6 (2.7 ) 2.9 3.0 8.8

Adjusted EBITDA 37.5 17.1 23.7 22.6 100.9

Depreciation expense (9.1 ) (9.1 ) (9.0 ) (9.2 ) (36.4 )

Non-GAAP adjusted operating income (loss) 28.4 8.0 14.7 13.4 64.5

Restructuring expense (3.8 ) (6.2 ) (5.9 ) (3.7 ) (19.6 )

Asset impairment expense (0.4 ) — (0.1 ) — (0.5 )

Amortization of intangible assets (0.1 ) (0.1 ) (0.1 ) — (0.3 )

Other operating income (expense) - net — — (0.1 ) — (0.1 )

GAAP operating income (loss) $ 24.1 $ 1.7 $ 8.5 $ 9.7 $ 44.0

Adjusted EBITDA margin percentage 7.6 % 4.4 % 4.9 % 5.7 % 5.7 %

Non-GAAP adjusted operating income (loss)

margin percentage 5.7 % 2.1 % 3.1 % 3.4 % 3.7 %

(1) Other (income) expense - net includes foreign currency translation adjustments, other components of net periodic pension costs and other miscellaneous items.

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Appendix- Non-GAAP Financial MeasuresNon-GAAP Items

Non-GAAP adjusted income (loss) from continuing operations, non-GAAP adjusted EBITDA and non-GAAP adjusted operating

cash flows are financial measures that are not in accordance with GAAP. Manitowoc believes these non-GAAP financial

measures provide important supplemental information to both management and investor s regarding financial and business trends

used in assessing its results of operations. Manitowoc believes excluding specified items provides a more meaningful comparison

to the corresponding reporting periods and internal budgets and forecasts, assists investors in performing analysis that is

consistent with financial models developed by investors and research analysts, provides management with a more relevant

measure of operating performance and is more useful in assessing management performance.

Non-GAAP Adjusted Income (Loss) and Income (Loss) Per Share from Continuing Operations

($ in millions, except share data)

Three Months Ended

June 30,

Six Months Ended

June 30,

2018 2017 2018 2017

Income (loss) from continuing operations $ 9.9 $ 0.7 $ (0.1 ) $ (35.3 )

Special items:

Asset impairment 0.4 — 0.4 —

Restructuring expense 3.8 5.9 10.0 17.6

Separation equity awards — (0.1 ) — —

Tax on special items 0.2 — 0.5 —

Non-GAAP adjusted income (loss) from continuing

operations $ 14.3 $ 6.5 $ 10.8 $ (17.7 )

Diluted income (loss) from continuing operations per share $ 0.27 $ 0.02 $ — $ (1.01 )

Special items, net of tax:

Asset impairment 0.01 — 0.01 —

Restructuring expense 0.11 0.16 0.28 0.50

Separation equity awards — — — —

Tax valuation allowance and one time tax items 0.01 — 0.01 0.01

Diluted non-GAAP adjusted income (loss) per share

from continuing operations $ 0.40 $ 0.18 $ 0.30 $ (0.50 )

Non-GAAP Adjusted Operating Cash Flows

($ in millions, except share data)

Six Months Ended

June 30,

2018 2017

Net cash used for operating activities: $ (281.0 ) $ (190.9 )

Cash receipts on sold accounts receivable 250.7 146.3

Non-GAAP adjusted operating cash flows: (30.3 ) (44.6 )