1Reference (apr02)

Annual General Meeting 2010 – Management ReportMunich, May 28, 2010

Dr.-Ing. Georg Sick (CEO and President)

2Reference (apr02)

Overview

Q1/Fiscal year 2010

Shares

Fiscal year 2009

Innovations

Strategy

Outlook

DF 16 Rebar tier

3Reference (apr02)

Wacker Neuson has set standards worldwide with productstrength and innovative drive

Strong innovation track record since 1930

4Reference (apr02)

Rammer: success story stretching back over 80 years

1930: first electric rammer 2010: global market leader

5Reference (apr02)

Innovations Light Equipment (2008 – 2009)

BTS 1140L3January 2008

CT 24June 2008

Rebar cuttersApril 2008

Light- and medium-weight plates with electric starterMarch 2009

New IRFU rangeJune 2008

New BFS rangeSeptember 2008

E 700M Hydronicsurface heaterNovember 2008

Lightweight breakerJanuary 2009

DF 16 rebar tierApril 2009

RD 16-100 Vibratory rollerMay 2009

6Reference (apr02)

bauma 2010 – New Light Equipment products (Selection)

7Reference (apr02)

VDS7/2008

24047/2009Easy Lock

5/2009

Dumper Cab6/2009

Redesign TD96/2009

6001s POWER6/2009

SSL 901/11014/2008

Compact Equipment: Product developments (2008 – 2009)

8Reference (apr02)

Compact Equipment: Product developments

Compact Telehandler

Kramer Allrad 1245 Weidemann T4512

9Reference (apr02)

bauma 2010 – New Compact Equipment products (selection)

10Reference (apr02)

Overview

Q1/Fiscal year 2010

Shares

Fiscal year 2009

Innovations

Strategy

Outlook Light and Compact Equipment complement each otherperfectly on construction sites

11Reference (apr02)

Positive development through organic growth, acquisitions and merger

Multi-year comparison 2004 – 20091

(€ million)

200820062004 2005

Acquisition

Weidemann

Acquisition

Ground Heaters

Merger2

2007

1 Figures according to IFRS, 2 Included only Q4 Neuson Kramer (start of consolidation: October 1, 2007), 3 Pro forma – as if the two companies had been consolidated for the entire year 2007.

979.53

2009

870.3

742.1

619.3

503.2411.2

597.0

12Reference (apr02)

Impact of economic crisis

Quarterly comparison Q1 07 – Q4 09

(Sales in € million)

160,4

181,3

162,5

237,8228,2

244,2

212,3

185,6

137,3

156,5149,0

154,2

0

50

100

150

200

250

300

Q1/07 Q2/07 Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09-20

-10

0

10

20

30

40

Revenue

Light Equipment

Compact Equipment

Service

EBITDA

(EBITDA in € million)

13Reference (apr02)

2009: Year of world economic crisis

Fiscal 2009 vs. fiscal 2008

– Sales dropped by 31.4 percent to EUR 597.0 million

– Asia up

– Rental sales at all-time high (Central and Eastern Europe)

– Loss in Q1, operational profit in last three quarters 2009

– Impairment of EUR 100.3 million

– Adjusted annual loss of EUR 2.9 million

– Equity ratio up to 81,5 percent

– Change from low financial debt to net cash position

– Break-even point lowered to EUR 600 million

14Reference (apr02)

Our core success factors during a crisis

Enhancement of customer value - gaining market share

Best-in-class product and service quality

Proximity to customers

Flexible production processes

Immediate adjustments of cost structure

Ongoing R&D activities

Continuing apprenticeship and vocational training

Improvement of strong financial position

International expansion

15Reference (apr02)

100%94%

ca. 75%

Q3/08 Q4/08 Q4/09

Our cost cutting measures

Manpower capacity adjustments Short-time-work from January 2009 onwards in most European production facilitiesIntensified sales & distribution activities with focus on growth marketsCut of investments

Securing liquidity: - Reduction of working capital

- Funding day-to-day operations with cash flow from operating activities

- Total reduction of net financial debt

Early manpower capacity adjustments (Effects from short-time-work, reduction of time accounts and

temporary staff, Lay-offs where unavoidable)1

1 Manpower capacity. Percentages do not reflect number of employees.

16Reference (apr02)

Results of cost saving measures

EUR +83.8 mConversion of net debt to net cash (change)

-28.3%Reduction in working capital

-25%2Manpower capacity (comp. to Q3 08)

-61%Reduction in investments (fixed assets)

15% of employeesShort-time-work (European production facilities)

-16%

ImpactDec. 31, 09

Measures

Cost-cutting SG&A1

1 adjusted by attributable restructuring costs2 incl. short labour effects and layoffs (incl. temporary)

17Reference (apr02)

Sales (quarterly 09)

Q2 through Q4: return to the black on EBIT level

(€ million)

100%

Q1 Q2

137.3

Profit for the period (quarterly 09)

Q1

Q3-16.6

1.4(€ million)

Sales (yoy)

(€ million)

EBIT (quarterly 09)

(€ million)

Q1

Q3

-22.6

3.2

149.0

Q3

5.9 4.8

Q2Q2

156.5

2008 2009

-31.4%

Q4

154.2

-99.72

870.3

597.0

300

1 Q4: adjusted by Impairment2 Q4: due to Impairment EUR 100.3 million.

0.61

Q4 Q4

-99.71

-2.03

3 Q4: adjusted by Impairment of EUR 100.3 million, minus deferredtaxes of EUR 2.7 million

18Reference (apr02)

(-2.7)2 + 100.3

+100.3

+ 100.3

-

Impairment

+9.6

+ 9.6

+ 9.6

+ 9.6

Restructuring costs

- 3.2- 113.1EBIT

- 2.9-110.1Profit for the period

- 5.6-115.5EBT

27.1

Income Statement

AdjustedIncome

Statement

36.7EBITDA

Adjusted earnings figures

Annual loss largely due to structural adjustments and one-off items

(€ million)

1 EUR 2.7 deferred taxes

19Reference (apr02)

Impairment: One-off write down on goodwill

54,040

32,040

….

-10,798

64,838

42,838

64,838

42,838

22,000

-

Brand (indefinite useful life)

- Thereof Neuson Kramer subgroup

-100,338

….

-89,540

Impairment

326,059

293,988

2008

36,837

-

2006

325,676

293,981

2007

236,016

204,448

2009

Impairment Neuson Kramer subgroup Dec. 31, 2009

Book valuein € K

Goodwill

- Thereof Neuson Kramer subgroup

Merger

20Reference (apr02)

Sales distribution: Stronger Asia and service percentage

Regions Business segments1

(as a %) (as a %)

1 Consolidated sales before discounts

Asia4.7 (3.1)

Europe 78.0 (77.7)

America 17.3 (19.2)

Compact Equipment 34.1 (40.7)

Light Equipment 35.5 (37.8)

Service 30.4 (21.5)

21Reference (apr02)

Segments: Asia sales up, rental sales at all time high (Central and Eastern Europe)

Sales Europe(€ million)

Sales Americas(€ million)

Sales Asia(€ million)

2008 2009

-31.1%676.2465.7

2008 2009

-38.2%

166.9103.1

2008 2009

+3.5%27.2 28.2

Sales Light Equipment(€ million)

Sales Compact Equipment(€ million)

Sales Services(€ million)

2008 2009

-35.5%331.4213.5

2008 2009

-42.3%356.0

205.3

2008 2009

-2.8%188.5 183.3

22Reference (apr02)

Construction 09 vs 081

Increase in agricultural share of total revenue

(€ million)

Agriculture 09 vs 081

(€ million)

2008 2009

114.882.0

- 29 %

Q1 Q2

73.1

1 New machines sales only, excluding Service. Construction business contains light and compact equipment sales

Agriculture Q1-Q4/091

(€ million)

27.2 18.6

2008 2009

572.6

336.8

- 41 %

Construction Q1-Q4/091

84.793.2

Q3

(€ million)

15.4

Q1 Q2 Q3

Agriculture

13.6 (13.1)

Construction

56.0 (65.4)Service 30.4 (21.5)

Sales split 09 vs 082

(as a %)

Q4

85.8

Q4

20.8

23Reference (apr02)

Significant effects from cost-cutting in 2009Costs of sales Gross profit-margin

SG&A

(€ million)

(as a %)

(€ million)

30.8

2009

41.3

2006 200820071

38.1 33.7Gross profit margin

1 2007 gross profit margin pro-forma: 35.4 %

Total costs

(€ million)

2008

576.9 412.9

2008

197.51235.0

2008 2009

319.6261.11

2009

-28.4%

20091 2009: adjusted by repective restructuring costs (EUR 5.7 million of restructuring costs)

-16.0%

300

100

EUR -58.5 m

1 2009: adjusted by restructuring costs. Total cost = Conversion costs and SG&A, without other income/expenses

100

24Reference (apr02)

Securing liquidity in 2009

Reduction of working capital

(€ million)

0

50

100

150

200

250

300

2005 2006 2007 2008 20090

5

10

15

20

25

30

35

40

Working capital Working capital/revenue

Reduction of working capital Q3 08 – Q4 09

(€ million)

Mar. 31/09

303.9 298.3

Dec. 31/08

Jun. 30/09

271.5

315.9

246.1

Sept. 30/08

Dec.31/09

-28.3 % fiscal 09

217.9

Sept. 30/09

Working capital and ratio to revenues 05 - 09

(€ million) (as a %)

25Reference (apr02)

Capital expenditure

Significant cut in Capex

(€ million)

Rental investments in Central and Eastern Europe (where not in competition with our rental customers)

R&D center and Headquarter in Munich (under construction)

Expansion of sales and service stations

0

20

40

60

80

100

120

140

160

2005 2006 2007 2008 2009*

Capex Depreciation and amortization Operative cash flow

Increasing operative cash flow to EUR 138,3 million, reduction of financial debt

* Depreciation 2009: adjusted by impairment (EUR 100.3 million)

26Reference (apr02)

R&D center and headquarter in Munich (under construction)

27Reference (apr02)

Improving financial position in 2009

Strong finance and asset position 2005 – 2009

(€ million) (as a %)

-50

50

150

250

350

450

550

650

750

850

950

2005 2006 2007 2008 2009 -5

15

35

55

75

95

Net financial position Equity Equity ratio

28Reference (apr02)

Dividend proposal for fiscal 2009

0

70.14

-

0

20091

0.270.380.620.500.19Dividend per share (in €)

41.1141.1139.1570.1470.14Eligible shares(million)

43.249.850.140.032.0Distribution ratio2 (in %)

11.115.624.335.0713.33Total payout (in million €)

2008 2004200520062007

Dividend history 2004-2009

1 Dividend payment proposed to AGM on May 28, 2009.2 On net earnings before PPA for 2008 and 2007

29Reference (apr02)

Overview

Q1/Fiscal year 2010

Shares

Fiscal year 2009

Innovations

Strategy

Outlook

Analysts reaction (released figures of fiscal 09, Mar. 26, 2010)

„An even better financial position as expected.“„Non-cash impairment was no surprise to themarket.“„Company will not pay dividend as expected.“„Came out of 2009 crisis financially sound.“„High investments in the coming years shallprovide for an additional growth impulse.“

30Reference (apr02)

Share price in line with peer groupShare price outperfoming indices in H2/09

Wacker Neuson share: + 32.5 percent in 2009

ISIN DE000WACK012WKN WACK01 Reuters WACGn.DEBloomberg WAC GRIndices SDAX, DAXplus family, CDAX, GEX,

Classic All SharesShare Prime All Share

6.96Average

4.31Low

- 1.57Earnings per share

11.3Book value per share

9.51

2009Key figures sharein EUR

High

31Reference (apr02)

Buy ratings1

Active IR communication – Analysts optimistic

1 As of May 20, 2010

Analyst rankings 2009 - 2010 Number of analysts

2008

10

4

2007 2009

12

Buy: 6 (0)

Hold/Neutral: 5 (3)

Sell: 1 (7)

(Numbers of Analysts (previous year))

BankhausReuschel

Merrill Lynch

BHF Bank

DZ Bank

Sal. Oppenheim

Deutsche Bank

EUR 12,00

EUR 11,50

EUR 10,00

EUR 10,00

EUR 10,00

EUR 14,00

32Reference (apr02)

Wacker Neuson family owned by almost 70 % Shareholder Structure1 Free Float1

(as a %) (in %)

1 As of: May 20092 Includes the companies Wacker-Werke GmbH & Co. KG, Wacker Familiengesellschaft mbH & Co. KG and VGC Invest GmbH and Neuson Ecotec GmbH

Freefloat incl. Management 32.9

Family2

67.1

USA/rest of world10.8

Germany 53.0

Austria9.0

Europe (without D+A) 27.2

33Reference (apr02)

Overview

Q1/Fiscal year 2010

Shares

Fiscal year 2009

Innovations

Strategy

Outlook Wacker Neuson on „bauma“ fair in April 2010:Visitors were impressed by high product range and innovation power

34Reference (apr02)

Summary Q1 2010 – „v-shape“ recovery in order income and US sales

Q1 10 vs. Q1 09

– Harsh winter in first 2 months in Europe, strong March business

– Revenues up by 9.5 percent to EUR 150.3 million, negative earnings as planned

– Recovery of economy drives product sales worldwide

– Significant sales growth in Light Equipment, USA and Asia

– Increase in order income for Compact Equipment but supplier delivery delays

– Service sales dependend on weather - > effect on margins

– High equity ratio of 78,9 percent

Q1 10 vs. Q4 09

– Recovery continued, bauma in April confirms upswing

– Low net financial debt

– Significant reduction of short-time-work

– Equipment sales exceed Q4 2009

35Reference (apr02)

Light Equipment and USA early in cycle

0

10

20

30

40

50

60

70

80

90

Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Q1/10

Light Equipment Compact Equipment

Quarterly/monthly comparison Q3 08 – Q1 10

(Sales Light Equipment in € million) (Domestic Sales USA in USD)

03/09 10/09 11/09 12/09 01/10 02/10 03/10

03/09 10/09 11/09 12/09 01/10 02/10 03/10

….

36Reference (apr02)

0%

20%

40%

60%

80%

100%

120%

Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10Sales Manpower capacity*

Manpower capacity and sales development

Figures measuring manpower capacity

*Jobs, including short-time-work effects and layoffs (incl. temporary workers)

Mar.31/09 Mar.31/10

23%

7%15%

Dec.31/09

Short labour reduction

Mar. 31/09 Mar.31/10

3,375 3,059

Dec.31/09

Number of employees (Jobs)

3,090

0%May10

Increasing manpower capacity due to high order income

….

37Reference (apr02)

EBITDA

Sales and earnings increases in Q1

(€ million)

100%

Profit for the period(€ million)

Sales (€ million)

EBIT

(€ million)

Q1/09 Q1/10

+9.5%137.3 150.3

100

Q1/09

Q1/10-12.3

3.7

Q1/09 Q1/10

-22.6

-5.9

Q1/09 Q1/10

-16.6-5.7

+130%

+74% +66%

38Reference (apr02)

Recovery of economy drives product sales worldwide

Sales Europe(€ million)

Sales Americas(€ million)

Sales Asia(€ million)

Q1/09 Q1/10

+2.2%107.6 110.0

Sales Light Equipment(€ million)

Sales Compact Equipment(€ million)

Sales Services(€ million)

Q1/09 Q1/10

+38.4%

23.8 33.0

Q1/09 Q1/10

+25.7%

5.9 7.4

Q1/09 Q1/10

+29.7%45.7

59.3

Q1/09 Q1/10

+0.5%54.7 55.0

Q1/09 Q1/10

-2.4%38.1 37.2

39Reference (apr02)

Construction sales1

Signs of recovery in both markets

(€ million)

Agricultural sales1

(€ million)

1 New machines sales only, excluding Service. Construction business contains light and compact equipment sales

Q1/09 Q1/10

73.191.3

+6.4 %

Agriculture

15.2 (19.7)

Construction

60.2 (52.8)Service 24.6 (27.5)

Sales split yoy

(as a %)

Q1/09 Q1/10

27.2 23.0

+10.5 %

Q4/09

85.8

…. ….20.8

Q4/09

40Reference (apr02)

Free Cash flow Operative Cash flow

Investments fixed assets Depreciation

10.3

Recovery triggers investments and working capital increase

Investment fixed assets and depreciation Net financial position

Working capitalFree and operative cash flow

(€ million)

Q1/09 Q1/10

7.3

23.0 +24.9

-2.0Dec,31/09

Mar,31/10

-4.5

-27.4

Q1/09 Q1/10

(€ million)

(€ million)

217.9 233.1

Dec,31/09 Mar,31/10

(€ million)+7.0%

9.6

3.8

-2.3

41Reference (apr02)

Overview

Q1/Fiscal year 2010

Shares

Fiscal year 2009

Innovations

Strategy

Outlook

„… the large numberof visitors were an immediate sign of a successful trade fair. Not only the laymenbut even the expertswere amazed by theproduct portfoliowhich surely is thebasis for thesuccessful merger …“Journalist quote on bauma

42Reference (apr02)

Global launch of compact equipment continued

To be observed

May 2010

New

New

Postponed

43Reference (apr02) 43

Gaining markets share: Example compact introduction in North America

14 models introduced under the Wacker Neuson brand

Four-wheel drive loaders

Articulated wheel loaders

Four-wheel dumpers

Compact excavators

Skid steer loaders

Locations: Exclusive dealers

12/2008 12/2009

+47 %

“With the compact class introduction Wacker Neuson confirms its excellent reputation in the US as a professional high-quality company. The compact class products are efficient, powerful and easy to maneuver."Marcus Auerbach, Director Compact Equipment, Wacker Neuson USA

44Reference (apr02) 44

Gaining markets share: Example compact introduction in South Africa

14 models introduced under the Wacker Neuson brand

Four-wheel drive loaders

Articulated wheel loaders

Four-wheel dumpers

Compact excavators

Skid steer loaders

"I like the compact excavator because it is light and can be operated with a high degree of precision. It is also powerful and extremely well made. I'm looking forward to many years of reliable service."

Jan van der Walt, Lonerock Construction, Johannesburg, South Africa

45Reference (apr02) 45

Gaining markets share: Example compact introduction Australia

Eight models introduced under the Wacker Neuson and Weidemann brands

Compact excavators

Skid steer loaders

Wheel loaders

"Wacker Neuson's extensive portfolio makes us the only full-line supplier of compact equipment on the Australian market."

Andy Evans, managing director, Wacker Neuson Melbourne, Australia

46Reference (apr02)

Plan for capacity increase in Linz (Austria)Purchase of a site to be used for a new manufacturing plant

Today: Linz-Leonding (Austria)

Mini excavatorsSkid steersTrack dumper

Future: Hörsching (Austria)

Mini excavatorsSkid steersTrack dumper and wheel dumper

Capacity will be doubled

Capacity limit reached before financial crisis

Begin of construction not before 2011

47Reference (apr02) 47

Keynote Farm-Mobility-Concept: Agricultural challenges and answers from Weidemann

30% field work

Feeding

Bedding

Mucking out

Loading

Stacking

Silo work

Shifting earth

Distributing

Cleaning

Reaping

Snow and ice clearance

Articulated wheel

loaders

DumpersTelescopic

handlersAll-wheel

loaders

Skid steer loaders

30% field workArticulated wheel

loaders Skid steer

loaders

Telescopic handlers

All-wheel loaders

30% field work

70% stable/barn and yard work

48Reference (apr02) 48

Today 2010 onwards

+

Attachments

Broader product portfolio for the agricultural industry (II)

49Reference (apr02)

Attachments with intelligent features are gaining importance

Examples

50Reference (apr02)

Overview

Q1/Fiscal year 2010

Shares

Fiscal year 2009

Innovations

Strategy

OutlookKramer Allrad Teleskopic handler 4507

51Reference (apr02)

Long-term outlook for construction and agricultural industries positive

Global opportunities for construction

Infrastructure projects in Eastern Europe, Asia, US Consequences of climate change and growing importance of environmental protectionExpansion of telecom networks (e.g. broadband access)Expansion and modernization of road and rail networksChanging accommodation needs as a result of urbanization for exampleReconstruction projects (including renovation and modernization)Utility enhancements (e.g. water, energy efficiencies)Many economic action plans worldwide currently focused on infrastructure

Global opportunities for agriculture

Rising global demand for food and fodder

Trend towards 2G bio fuels and other renewable resources

Structural shift towards fewer but larger holdings (especially in Europe) with a greater need for machinery

Growing industrialization of the agricultural industry

52Reference (apr02)

Outlook – bauma in April 2010 confirmed turnaround

Order backlog compact equipment

(units)Market dynamics more visible

Bauma order volume: > +25% to 2007

Increasing construction activity worldwide

Positive effects from infrastructure programs

Forecast revenue confirmed: > 5% for 2010, double-digit growth 2011 with positive earning trend

Focus on maintaining strong asset and financial position

Continuous investigation of acquisition targets and alliances

03/09 04/09 05/09 06/09 07/09 08/09 09/09 10/09 11/09 12/09 01/10 02/10 03/10

+235% yoy

53Reference (apr02)

The strenghts of the Wacker Neuson SE

Strong growth strategy

Highest product and service quality

Financial strength

International sales and service network

Clearly definedbusiness model

Corporate culture of a family-owned company

Experienced and highlycommitted employees

54Reference (apr02)

Annual General Meeting 2010 Munich, May 28, 2010