Maximal Forklift

History of Hyster-Yale Maximal

Zhejiang Maximal Forklift Co., Ltd. established in 2006, is a Chinese famous lift truck manufacturer specializing in design, engineering, manufacturing and distribution of utility and standard trucks to deliver a broad array of solutions aimed at meeting the specific material handling needs of its customers; The products cover from Class 1 to Class 5, as well as some special lift trucks (e.g. rough terrain truck, reach stacker and empty container handler), widely used in different application, and warmly accepted by its customers; The products are marketed under Maximal® and Samuk® brand names. Maximal always ranks top10 in Chinese domestic forklift manufacturer, and top 3 for export markets among domestic brands.

Hyster-Yale Materials Handling, Inc., headquartered in Cleveland, Ohio, offers a broad array of solutions to meet the specific materials handling needs of customers’ applications. The Company's wholly owned operating subsidiary, Hyster-Yale Group, Inc., designs, engineers, manufactures, sells and services a comprehensive line of lift trucks and aftermarket parts marketed globally primarily under the Hyster® and Yale® brand names. Subsidiaries of Hyster-Yale Group include Nuvera Fuel Cells, LLC, an alternative-power technology company focused on fuel cell stacks and engines, and Bolzoni S.p.A., a leading worldwide producer of attachments, forks and lift tables marketed under the Bolzoni®, Auramo® and Meyer® brand names.

History of Hyster- Yale Maximal

6th, December 2017 Fuyang, Hangzhou

1st, June 2018 Shanghai

25th, May 2015 Maximal, Fuyang

Hyster-Yale team paid first visit to Maximal, discussing the feasibility of cooperation. It made a good beginning!

Hyster-Yale and Maximal entered into a definitive agreement of acquisition.

Hyster-Yale completed its acquisition after 3- year negotiations. HY owns 75% of the outstanding shares of, and a controlling interest in, Zhejiang Maximal Forklift Co., Ltd..

Zhejiang Maximal Forklift Co., Ltd. renamed to Hyster-Yale Maximal Forklift (Zhejiang) Co.,Ltd, begins a new start.

Group Overview

Serving the materials handling industry for over 80 years

Strong team of long-term executives and managers with

global experience

20 manufacturing operations in 12 countries

2017 Financial Results

→Revenues: $2.9 billion

→Operating Profit: $76.0 million

→Net Income: $48.6 million

→Cash: $220.1 million at December 31, 2017

→Debt: $290.7 million at December 31, 2017

→Net Debt: $70.6 million at December 31, 2017

Hyster-Yale Materials Handling, Inc. (NYSE:HY) is a

leading, globally integrated, full-line lift truck

manufacturer, offering a broad array of solutions aimed

at meeting the specific materials handling needs of

customers' applications.

Top 3 Global Position

Separate lift truck, fuel cell power solutions, and attachment business segments.

Headquartered in Cleveland, Ohio

Approximately 6.000 employees globally

Group Overview

Group Overview

HYSTER-YALE MATERIALS

HYSTER-YALE GROUP

PARENT COMPANY

OPERATING COMPANY SPIN-OFF IN 2012

Lift Truck Business Attachment Business Hydrogen Power Business

BUSINESS SEGMENT

Bolzoni, S.p.A Nuvera Fuel Cells, LLC

Legal entity 1

Legal entity N

HY

Maxim

al LEGAL ENTITY

Core Business

Group Overview

HYSTER-YALE BRAND

Positioning and Benefits from JV

HY Maximal’s brand awareness is on the increase. HY Maximal is sharing Hyster-Yale's supply system to

reduce its purchase costs, ensuring the lead time. HY Maximal is introducing advanced production

management systems (e.g. SAP) and strict QC system to improve product quality and increase production efficiency.

HY Maximal’s specialists from R&D with HYG’s professionals have organized a number of internal CE tests. HY Maximal, in turn, passed CE test by a third party and obtained CE certificate, one sole forklift manufacturer holding CE certicate in China;

HY Maximal is considering sharing HYG’s PDC in Europe to shorten the lead time and improve its service level.

Hyster-Yale Maximal is positioned as a stand-alone manufacturing facility primarily producing full range of utility and standard lift trucks in China, with its own management team, and its own Board of Directors led by Colin Wilson, President and CEO of Hyster-Yale Group, as Chairman.

Meanwhile, HY Maximal is managed as a

division of HYG’s JAPIC segment, reporting to JAPIC senior management, and its results will be consolidated within the Lift Truck JAPIC segment financials.

HYM’s Positioning in HYG Benefits from JV

About HY Maximal Overview

Total floor area 133,334㎡ Factory designed production capacity 30,000 units per year

•Lushan Industrial Area, Fuyang District; •The new 9th District of Hangzhou City; •Located in economically developed Yangtze River Delta Region.

Location

Transportation

Regional Position •G20 Summit 2016 was successfully held in Hangzhou; •Hangzhou success the 19th Asian games in 2022.

•70KM away from Hangzhou Xiaoshan international airport; •170KM away from Shanghai Port; •160KM away from Ningbo Port; •Light-rail train is expected in 2019, 20 minutes from Fuyang to Hangzhou.

Currently employees: 570 Professional and technical personnel : 230 National invention patents : 7 pcs Utility and appearance patents: more than 70 pcs

A Glimpse of HY Maximal Facilities

Fabrication & Painting Workshop: 2 Fabrication Depts.: Frame, Mast; 2 Painting Lines: Frame & Mast, Counterweight

HY Maximal owns advanced parts processing center, robot welding equipment, parts automatic hoist conveyor line, coating line, assembly line, forklifts performance test line, parts test-bed and ERP information management system.

Bird View of the Company

Assembly Workshop： 3 Assembly Lines: 1.5-3.5T IC, 4.5-mini12T IC, Electric forklift

Testing & Warehouse ：1 Testing Line; 1 Finishing Line

Port Machinery Fabrication Workshop Port Machinery Assembly Workshop

ABB Welding Robot for metal forming

Automatic parts transferring system

Automatic painting

Strict R&D Process

Product design and development proposal by sales

R&D, ME, SOP sign off the product design output evaluation list

Output of process diagram, input of designed data into ERP

D&D verification Product design and development proposal by sales

Reasoning on the development proposal

R&D issues product development feasibility study report

Meeting to further reasoning

R&D issues task book of design and development

Design the process diagram and sign technical agreement

New product trial-out Third trial-out (small

amount) Mass production

General plan reviewing, R&D issues disign development input reviewing report

Design the general plan

R&D issues design

and development

plan

Verification of D&D, then R&D issues D&D verification report

Confirmation of D&D, then R&D issues D&D confirmation record

Design changes and

complete package

replacement

Design changes, old

drawing replacement

Verification of D&D

Second trial-out

N

N

N

Y

Y

Gate1: Charter

Y

Gate2: Requirements

Gate3: Verification

Gate4: Validation Gate5: Start of Production

Gate6: Production

HY Maximal’s new product design & development diagram: 6-Gate Diagram

TODAY

2006: First M series forklift shipped

2009:16T heavy duty truck launched

2012:A series forklift R&D; 10,000 units exported

2013:2WD RT forklift launched

2013:Empty Container Handler R&D

2015:4WD Hydrostatic RT forklift launched; First Reach Stacker sold; C. 4WD Hydraulic successfully launched; 20,000 units exported

Product Development History

2018:Sider-loader forklift lanuched; Electric forklift with lithium battery R&D; A series Reach truck lanuched; Target 30,000 units exported

Product advantages

Range of products covering 5 classes lines wider

than other Chinese forklift manufacturers. Devolopment of special truck (e.g. Rough Terrain)

a step ahead of its competitors to meet customers' needs for different applications and utilization of advanced engines to meet the stricter emission standards.

HY Maximal adopts top brand and more international standard components to ensure the quality as well as the after-sales service.

HY Maximal is working to extend its supply chain upstream, through self-production, acquiring or holding key component suppliers to reduce production cost, control lead time, ensure product quality and achieve technology leadership, such as mast, frame & accessories.

Full-line Product Range

Class 1 Class 2 Class 3 Class 4

Electric Counterbalanced

Rider Trucks

Electric Narrow Aisle Trucks Electric Hand Trucks Internal

Combustion Engine (pneumatic tire)

1.5T to 5.0T 1.0T to 2.0T 1.0T to 2.0T 2.5T 1.5T to 45.0T

Electric

4 wheel Electric

Class 5

Internal Combustion Engine

(cushion tire)

Stacker

Diesel Forklift

Gas&LPG Forklift Heavy-duty Trucks

Empty Container Handler

Reach Stacker

Over 130 different truck models available

2WD/Compact 4WD/4WD

Rough Terrain Forklift Very Narrow Aisle Truck

Pallet Truck

Warehouse Equipment

Reach Truck

3-wheel Electric

4-wheel Electric

Side Loader

Reach Truck

A-series

ICE

2018 new product

Rear drive 3-wheel Electric

Port Machinery

HY Maximal adopts top brand, high quality components to improve the product reliability and provides lift trucks at lower cost of ownership

Engine Original imported

Transmission TCM Technology

Hydraulic

Drive Axle ANQING Brand Top 1 in China

Steering Axle ANQING Brand Top 1 in China

Hydraulic Japanese Shimadzu Hydraulic pump /

valve

Hydraulic Pipe Wuhu Shuangyi

Top Brand in China

Cylinder Tuobang

Top Brand in China

Seal Kits Japanese Original

NOK

Tire Advance/Chaoyang Top brand in China

Paint Carpoly Brand

Key Component Suppliers

Product Positioning

Current status: Maximal basic series, with improved models for IC 1.5T-mini4.0T. Future Positioning: Positioned as utility model, lower costs by optimizing product configuration, improve manufacturing technology, and increase production efficiency. Key Competitors: HC A series(IC forklift), R series, J series; Heli K series, G series.

Current status: Maximal second generation series for tonnage below 4.0T. Future Positioning: Positioned as standard model, upgrade current model with higher configuration, better technical performance and surface finishing. Key Competitors: HC XF series, A series(electric forklift); Heli GII series; Toyota, Mitsubishi &Clarks economic models produced in China.

Current status: Heavy duty trucks are in maturity stage while reach stacker is in the growth stage. Future Positioning: Leverage of Hyster-Yale supply system and its technology to improve product quality and competitiveness. Key Competitors: SANY, DALIAN, HELI, XCMG, LIUGONG, KALMAR, LINDE, KONECRANE, etc.

Current status: Rough Terrain models are mature, new products like side-loader are being R&D step by step. Future Positioning: Keep rough terrain forklifts sales and market share growth. Keep special truck R&D one step ahead of other Chinese manufacturers. Key Competitors: Manitou, Ausa, Combilift etc.

M Series A Series

Special Truck Port Machinery

utility standard

Global Distribution Networks

Mature sales network

Domestic market covers all provinces and regions all over the country

Exported to more than 100 countries and regions, with 23 exclusive dealers currently

From Russia From Italy

From Turkey

From Australia From Canada

From Thailand From Algeria

Dealers with Maximal

Exhibitions Worldwide

In Switzerland In Turkey

In Romania At CEMAT Hannover

At Canton Fair In Argentina

Maximal Market Position 2017

2. Export booking is comparable to domestic; While export revenue is much higher than domestic.

1550

2600 1962

3944

5948 5957 6651 7595

5345 5947

6803

0

1000

2000

3000

4000

5000

6000

7000

8000

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Total Domestic Export

_____________________ Source: Internal Company Data

China: 3815 units, 56%

Export: 2988 units, 44%

_____________________ Source: Internal Company Data

Total = 6.8 k Units

_____________________ Source: CITA. LTM 12/31/17 Orders Reports.

1. Top 3 Chinese brands for export markets in 2017; 3. HY Maximal’s unit booking is in increase.

Key Highlights-General

2017 Sales Ratio by unit Delivery Units Curve 2017 Export Ranking List by unit

Maximal Market Position 2017

Class 1 Electric

17%

Class 2 Electric

10% Class 3 Electric

35%

Class 4&5 ICE

39%

Total Industry = 1,395k Units

Market Size - Units _____________________ Source: WITS. LTM 12/31/17 Orders Reports.

Class 1 Electric

7% Class 2 Electric

2%

Class 3 Electric

49%

Class 4&5 ICE 41%

Total = 125.7k Units

Market Size - Units _____________________ Source: CITA. LTM 12/31/17 Orders Reports.

Class 1 Electric

11%

Class 2 Electric

1%

Class 3 Electric

2%

Class 4&5 ICE 85%

Market Size - Units

Total = 6.8k Units

_____________________ Source: Internal Company Data

Asia exclude China 14% Europe

34%

Americas 23%

Oceania 2%

Africa 1%

Total Industry = 1,395k Units

Asia exclude

China 31%

Europe 34%

Americas 24%

Oceania 5% Africa 5%

Total = 125.7k Units

Asia exclude China 12%

Europe 10%

America 10%

Oceania 7%

Africa 5%

Total = 6.8k Units

Global Unit Booking by Class Chinese Unit Booking by Class Maximal Unit Booking by Class

Global Unit Booking by Region Chinese Unit Booking by Region Maximal Unit Booking by Region

Marketing Sharing

+ Branding

Traditional Marketing

Digital Marketing

Other Marketing

Maximal Marketing +

+

Branding: Vision Identity System (VIS), Website Establishment. Traditional Marketing: Monthly & yearly regular printing materials and letters for promoting sales; Attending Exhibitions, such as Canton Faire, CeMat Faire Hanover, Bauma Faire China, CeMat Faire Shanghai and etc.; Marketing Materials: Brochures, Posters, advertising Materials. Digital Marketing: Company & Products Vedios, Monthly News, Wechat Public ID, Linkedin. Maximal latest News, product development information and company notice, official interaction with dealers and potential customers, Maximal experience sharing, official & unofficial videos about products, workshops and maintenance, updated storage products information, updated Chinese forklift truck export order statistics reference information Other Marketing: Monthly Data Statistics; Customer Care Plan.

Vision and Mission

Best products,

Best service,

Highest efficiency,

Optimal cost/Performance ratio,

Fullest range products.

Building “Maximal” to be one of the most outstanding manufacturers and one of the most respectable forklift brands in global industial truck field.

Making optimization and improvements at traditional forklift business, and keeping technology leadership at special forklift business.

Marketing not only product itself, but also delivering package solutions including spare parts, professional service, marketing ideas and corporate ethics to help the dealers grow.

Increasing market share through expanding sales volumes, which, in turn, drives parts and after-market service sales growth.

Thank you！