MANITOWOC COMPANY

CONTENTS | DECEMBER 2015                 REPORT OVERVIEW:

EXECUTIVE SUMMARY

OPERATING RESULTS

   First Nine Months 2015 Results
   Sales Analysis
   Crane Sales
   Geographic Sales
   Employment
   Manufacturing
   Marketing and Distribution
   Corporate Leadership

CORPORATE STRATEGY

PRODUCT ANALYSIS

   North American Machinery Sales
   North American Machinery Production
   Mobile Cranes
   Grove
   Manitowoc

The Manitowoc Company Inc. is a multi-industry, capital goods manufacturer operating in two markets: Cranes and Related Products (Crane) and Foodservice Equipment (Foodservice). The company, one of the world’s leading engineering lifting equipment providers, is the number one supplier of mobile telescopic, lattice boom crawler, and tower cranes and boom crane trucks to the global construction industry. Cranes are found in a wide variety of applications, including energy and utilities, petrochemical and industrial projects, infrastructure development such as road, bridge and airport construction, and commercial and high-rise residential construction.

On January 29, 2015, Manitowoc announced that the company’s Board of Directors had approved a plan to separate its Foodservices and Crane businesses into two independent, publicly-traded companies. The company expects that the separation of the segments will be finalized in the first quarter of 2016. Manitowoc believes that, as separate companies, Cranes and Foodservice will each be in a better position to realize their respective potentials; including the ability for each company to determine individual strategies as market conditions change; the growth of a long-term investor base that evaluates each company separately; and the greater flexibility that each company will have in determining capital allocation strategies. The split into two businesses will result in changes to the Board’s structure.

The proposed split of Manitowoc’s Foodservice and Cranes segments follows on the heels of another major splintering of the company at the end of 2008. At that time Manitowoc Marine Group, a shipbuilding and repair company, was sold to Fincantieri-Cantieri Navali SpA of Italy. Ironically, Manitowoc was founded in 1902 as a shipbuilding company, but over the years, the cranes and other segments became a more significant focus of the company.