May 10, 2019Barry Pennypacker – President & Chief Executive Officer

Dave Antoniuk – SVP & Chief Financial Officer

Ion Warner – VP Marketing & Investor Relations

First-Quarter 2019 Earnings Conference Call

2

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, 2018. 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 2019, which is available at www.manitowoc.com, together with this presentation.

3

First-quarter 2019 Summary

FinancialSummary

BusinessHighlights

• Americas: continued strong demand led by U.S. commercial construction and energy end markets

• EURAF: softening Y/Y demand in residential and commercial end markets

• Recapitalized debt structure –> improved flexibility, lower costs

• $30 million share repurchase plan approved

• Sales up 8% Y/Y• Adj EBITDA(1) of $29.6M, up 73 percent Y/Y -- Eighth

consecutive quarter of Y/Y percentage improvement• Organic Y/Y shipment increases in Americas and Europe• Fourth consecutive quarter of positive Adjusted DEPS (1)

(1) See appendix for reconciliation of GAAP to non-GAAP measures

4

Financial & Other Key Metrics

(1) See appendix for reconciliation of GAAP to non-GAAP measures(2) Cash Flow from Operating Activities

Q1 2019 Q1 2018 Y/Y ∆

Net sales 418.0$ 386.1$ 8.3 %

Engineering, selling & admin expenses 59.4 60.4 (1.6)%

Operating income 16.2 1.7 NmN

Non-GAAP adjusted operating

income (1)

20.8 8.0 159.1 %

Net loss (26.7) (10.0) (166.5)%

Non-GAAP adjusted income (loss) (1) 2.7 (4.1) 165.9 %

Adjusted EBITDA (1) 29.6 17.1 73.7 %

CFOA (2) (267.3) (168.4) (58.7)%

Non-GAAP CFOA (1), (2) (141.0) (24.4) NmN

Capital expenditures 4.4 6.4 (31.3)%

Backlog 693.6$ 756.6$ (8.3)%

5

Updated Full-Year 2019 Guidance

Revenue Approximately $1.900 to $1.975 billion

Adjusted EBITDA Approximately $130 to $150 million

Depreciation Approximately $35 to $37 million

Restructuring expense Approximately $12 to $15 million

Interest expense Approximately $29 to $33 million, excluding debt refinancing costs

Income tax expense Approximately $12 to $16 million, excluding discrete items

Capital expenditures Approximately $35 million

6

GMK3050-2

Hup M 28-22

GMK3060L GMK5250XL-1

MDT 809 MRH 125

bauma 2019: Product Launches

7

bauma 2019

8

Appendix

9

Appendix

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

$-

$100

$200

$300

$400

$500

$600

Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019

Revenue Adj EBITDA %

10

Appendix

$(1.20)

$(1.00)

$(0.80)

$(0.60)

$(0.40)

$(0.20)

$-

$0.20

$0.40

$0.60

Q12016

Q22016

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

Q22018

Q32018

Q42018

Q12019

Adjusted Diluted Earnings Per Share by Quarter

(1) Q1 2019 and forward reflects termination of Manitowoc’s accounts receivable securitization program

$(200)

$(150)

$(100)

$(50)

$-

$50

$100

$150

Q12016

Q22016

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

Q22018

Q32018

Q42018

Q12019

Non-GAAP CFOA (1)

0%

5%

10%

15%

20%

25%

30%

35%

$-

$100

$200

$300

$400

$500

$600

Q12016

Q22016

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

Q22018

Q32018

Q42018

Q12019

Net Working Capital/ % Sales (T12) (1)

Net Working Capital NWC/ Sales (T12)

11

Appendix- Adjusted EBITDA Reconciliation

12

Appendix- Non-GAAP Financial Measures