===== SIDA 1 ===== 9M 2024 Interim Statement as of September 30, 2024 ===== SIDA 2 ===== AT A GLANCE Trucks and buses (units) 9M 2024 9M 2023 Change Incoming orders 189,769 189,611 0% Unit sales 245,384 249,475 –2% of which trucks 205,233 207,078 –1% of which buses 20,843 22,502 –7% of which MAN TGE vans 19,308 19,895 –3% TRATON GROUP Sales revenue (€ million) 35,253 34,176 3% Operating result (adjusted) (€ million) 3,261 2,929 332 Operating return on sales (adjusted) (in %) 9.3 8.6 0.7 pp Earnings per share (€) 4.12 3.88 0.24 Active workforce 1 105,933 103,621 2,312 TRATON Operations Sales revenue (€ million) 34,266 33,352 3% Operating result (adjusted) (€ million) 3,570 3,113 457 Operating return on sales (adjusted) (in %) 10.4 9.3 1.1 pp Primary R&D costs (€ million) 1,748 1,552 13% Capex (€ million) 1,042 854 22% Net cash flow (€ million) 1,344 2,403 –1,059 TRATON Financial Services Sales revenue (€ million) 1,409 1,158 22% Operating result (adjusted) (€ million) 158 221 –63 Operating return on sales (adjusted) (in %) 11.2 19.1 –7.9 pp Return on equity (in %) 10.9 7.9 3.1 pp 1 As of September 30, 2024, and December 31, 2023 Incoming orders on prior-year level with 0% change Adjusted operating result €332 million higher at around €3.3 billion Sales revenue rose by 3% to around €35.3 billion Increase in adjusted operating return on sales to 9.3% Unit sales 2% lower at 245,384 vehicles ===== SIDA 3 ===== Course of Business 4 Material Events 5 Incoming Orders and Unit Sales by Country, TRATON Operations 7 Condensed Income Statement of the TRATON GROUP 9 Segments of the TRATON GROUP 11 Net Cash Flow 12 Capital Expenditures, TRATON Operations 12 Primary Research and Development Costs, TRATON Operations 13 Net Liquidity/Net Financial Debt 14 Report on Expected Developments Selected Financial Information 15 Income Statement 16 Condensed Statement of Comprehensive Income 17 Balance Sheet 19 Statement of Cash Flows 21 Contingent Liabilities and Commitments 21 Segment Reporting 23 Financial Calendar CONTENTS TRATON SE is a European stock corporation (Societas Europaea) incorporated under German law and admitted to trading on the Frankfurt Stock Exchange as its primary and the Nasdaq Stockholm as its secondary stock exchange. This Interim Statement was prepared in accordance with section 53 of the Exchange Rules for the Frankfurter Wertpapierbörse (FWB). Any deviations from the Guidance Note for Preparing Interim Management Statements issued by the Nasdaq Stockholm are described and explained on our website at www.traton.com. This Interim Statement does not constitute an interim financial report as defined in International Accounting Standard (IAS) 34 Interim Financial Reporting and has not been reviewed by an auditor. This Interim Statement contains certain forward-looking statements for the remaining months of fiscal year 2024. A range of known and unknown risks, uncertainties, and other factors may result in the actual results, financial position, development, or performance of the TRATON GROUP differing materially from the estimates given here. Such factors include those that TRATON has described in published reports. These reports are available on our website at www.traton.com. The Company does not assume any obligation to update such forward-looking statements or to adapt them to future events or developments. The figures relating to net assets, financial position, and results of operations were prepared in accordance with International Financial Reporting Standards (IFRSs), as adopted by the European Union. All figures shown are rounded, so minor discrepancies may arise from addition of these amounts. Comparable prior-year figures are presented in brackets alongside the figures for the fiscal year under review. The current definition of the key performance indicators can be found in the annual report published for the previous year. This report can be downloaded from our website at www.traton.com/publications. It’s not individual strength that helps a swarm of birds to thrive, but the fact that they work together toward a common goal. This is also true when it comes to transforming trans portation and further underlined by our TRATON purpose: Transforming Transportation Together. For a sustainable world. ===== SIDA 4 ===== 4 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 4 Material Events 5 Incoming Orders and Unit Sales by Country, TRATON Operations 7 Condensed Income Statement of the TRATON GROUP 9 Segments of the TRATON GROUP 11 Net Cash Flow 12 Capital Expenditures, TRATON Operations 12 Primary Research and Development Costs, TRATON Operations 13 Net Liquidity/Net Financial Debt 14 Report on Expected Developments 15 Selected Financial Information Material Events Despite a slight decline in unit sales, the TRATON GROUP generated sales revenue of €35.3 billion (9M 2023: €34.2 billion) in the reporting period, up 3% year-on-year. Operating result (adjusted) was €3.3 billion (9M 2023: €2.9 billion), which increased operating return on sales (adjusted) by 0.7 percentage points, from 8.6% to 9.3%. IAA Transportation, the leading trade fair for logistics and the transportation sector, was held in Hannover in September 2024. Two TRATON GROUP brands presented a wide range of products during the fair. Scania showcased its versatile fleet, including the Scania Super 460 R, which won the German Green Truck Award. Among the vehicles presented by MAN were the 12-tonne eTGL and the new MAN hTGX with hydrogen-powered engine. The brands also presented digital and financial services, along with services covering all aspects of charging battery electric vehicles. Navistar Inc. was renamed International Motors, LLC (International) on October 1, 2024. At the same time, the Navistar brand was renamed International and the former Navistar Sales & Services segment was renamed International Motors. TRATON took the next steps on its journey to expand the TRATON Financial Services segment into a global captive financial services entity. TRATON Financial Services acquired rights to the future MAN Financial Services business in several coun- tries and began operations in the reporting period. Following the acquisition of the MAN financing business in Austria by the TRATON Financial Services segment, the TRATON GROUP ’s financial services receivables increased by approximately €190 million and liabilities by approximately €170 million. In February, the Executive and Supervisory Boards of TRATON SE decided to strengthen Group-wide research and development as well as brand-specific development. To do this, significant parts of the research and development departments of the individual brands are being merged into a cross-brand organization. This new structure will drive forward the development of the TRATON Modular System with the aim of delivering sustainable, efficient, and connected transportation solutions to the market. At its meeting in February, the Supervisory Board of TRATON SE extended the contracts of TRATON GROUP Executive Board members Alexander Vlaskamp and Mathias Carlbaum by five years, in each case until 2029. On December 31, 2023, Volkswagen Finance Luxemburg S.A., a wholly owned subsidiary of Volkswagen AG, held 89.72% of TRATON SE’s share capital. In two steps, over the course of the year, Volkswagen Finance Luxemburg S.A. trans- ferred its 89.72% interest in the share capital of TRATON SE to its wholly owned subsidiary, Volkswagen International Luxemburg S.A. COURSE OF BUSINESS ===== SIDA 5 ===== 5 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 4 Material Events 5 Incoming Orders and Unit Sales by Country, TRATON Operations 7 Condensed Income Statement of the TRATON GROUP 9 Segments of the TRATON GROUP 11 Net Cash Flow 12 Capital Expenditures, TRATON Operations 12 Primary Research and Development Costs, TRATON Operations 13 Net Liquidity/Net Financial Debt 14 Report on Expected Developments 15 Selected Financial Information Incoming Orders and Unit Sales by Country, TRATON Operations Incoming orders Unit sales Units 9M 2024 9M 2023 Change 9M 2024 9M 2023 Change Total 189,769 189,611 0% 245,384 249,475 –2% of which all-electric vehicles 2,374 1,703 39% 1,131 1,190 –5% BEV unit sales ratio (excluding MAN TGE vans, in %) – – – 0.5 0.4 0.0 pp Trucks 148,955 149,990 –1% 205,233 207,078 –1% EU27+3 52,618 64,622 –19% 76,904 87,740 –12% of which in Germany 14,179 15,032 –6% 19,836 24,253 –18% North America 35,831 31,688 13% 61,052 59,873 2% of which in the USA/Canada 28,763 26,704 8% 50,015 51,079 –2% of which in Mexico 7,068 4,984 42% 11,037 8,794 26% South America 43,806 34,279 28% 46,669 34,143 37% of which in Brazil 37,271 28,675 30% 40,142 27,077 48% Other regions 16,700 19,401 –14% 20,608 25,322 –19% Buses 24,253 21,095 15% 20,843 22,502 –7% EU27+3 5,166 4,565 13% 3,708 4,115 –10% of which in Germany 1,187 1,246 –5% 794 1,016 –22% North America 10,813 10,036 8% 9,017 11,785 –23% of which in the USA/Canada 8,727 7,559 15% 6,603 9,231 –28% of which in Mexico 2,086 2,477 –16% 2,414 2,554 –5% South America 6,307 4,671 35% 6,133 4,805 28% of which in Brazil 5,094 3,588 42% 5,137 3,917 31% Other regions 1,967 1,823 8% 1,985 1,797 10% MAN TGE vans 16,561 18,526 –11% 19,308 19,895 –3% EU27+3 16,292 18,282 –11% 18,985 19,349 –2% of which in Germany 4,750 6,410 –26% 6,097 6,901 –12% ===== SIDA 6 ===== 6 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 4 Material Events 5 Incoming Orders and Unit Sales by Country, TRATON Operations 7 Condensed Income Statement of the TRATON GROUP 9 Segments of the TRATON GROUP 11 Net Cash Flow 12 Capital Expenditures, TRATON Operations 12 Primary Research and Development Costs, TRATON Operations 13 Net Liquidity/Net Financial Debt 14 Report on Expected Developments 15 Selected Financial Information Incoming orders were on the previous period’s level in the reporting period. It was therefore down slightly year-on-year in the truck business, although regional developments varied greatly. In North America, incoming orders increased significantly due to restrictive order acceptance in the comparative period. There was a strong increase in incoming orders in South America. In Brazil in particular, orders increased sharply in a growing market environment, whereas the previous year’s performance in the Brazilian market was significantly neg- atively impacted by the new emissions regulations that had come into force. A noticeable economic slowdown in the EU27+3 region, especially in Germany, led to a significant decline in incoming orders for trucks. The MAN TGE also recorded a decline in incoming orders. By contrast, incoming orders for buses increased significantly. The primary reasons for this were the positive develop- ment of the coach segment in the EU27+3 region and orders for school buses won in South America. The TRATON GROUP recorded a 2% year-on-year decline in unit sales in the reporting period, although the downward trend in the first half of 2024 was cushioned by 5% growth in the third quarter of 2024. Unit sales of trucks declined by 1%. This is due among other factors to the continued reluctance to buy in the EU27+3 region and a model year change at MAN Truck & Bus. Unit sales in North America were slightly above the prior-year level. Owing to a fire at the plant of a mirror supplier, a number of trucks were not completed and delivered as planned in the second quarter of 2024. The resulting delivery backlog was eliminated in the third quarter. By contrast, very strong unit sales growth was posted in South America, due primarily to the positive economic development in Brazil. Unit sales of buses recorded a moderate decline compared with the previous year. This was due, on the one hand, to the delayed ramp-up of the new school bus model at International in North America in the first half of the year. On the other hand, tighter regulatory requirements for vehicle software systems in the EU27+3 region led to delays in unit sales of buses. By contrast, unit sales of buses increased in South America. The book-to-bill ratio in the reporting period was 0.8 (9M 2023: 0.8). 306 (9M 2023: 237) all-electric trucks, 730 (9M 2023: 709) all-electric buses, and 95 (9M 2023: 244) MAN eTGE models were sold in the reporting period. Addition- ally, 51 (9M 2023: 91) hybrid trucks and 211 (9M 2023: 204) hybrid buses were sold. ===== SIDA 7 ===== 7 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 4 Material Events 5 Incoming Orders and Unit Sales by Country, TRATON Operations 7 Condensed Income Statement of the TRATON GROUP 9 Segments of the TRATON GROUP 11 Net Cash Flow 12 Capital Expenditures, TRATON Operations 12 Primary Research and Development Costs, TRATON Operations 13 Net Liquidity/Net Financial Debt 14 Report on Expected Developments 15 Selected Financial Information Condensed Income Statement of the TRATON GROUP TRATON GROUP TRATON Operations TRATON Financial Services Corporate Items € million 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023 Sales revenue 35,253 34,176 34,266 33,352 1,409 1,158 –423 –334 Cost of sales –27,662 –27,390 –26,962 –26,862 –963 –767 263 239 Gross profit 7,591 6,785 7,304 6,490 447 391 –160 –96 Distribution expenses –2,802 –2,646 –2,447 –2,332 –170 –125 –184 –189 Administrative expenses –1,299 –1,128 –1,130 –1,000 –35 –30 –134 –99 Other operating result –388 –316 –315 –178 –84 –116 11 –21 Operating result 3,103 2,695 3,412 2,981 158 119 –467 –405 Operating result (adjusted) 3,261 2,929 3,570 3,113 158 221 –467 –405 Operating return on sales (adjusted) (in %) 9.3 8.6 10.4 9.3 11.2 19.1 – – Financial result –427 –239 –589 855 –1 0 164 –1,094 Earnings before tax 2,676 2,456 2,823 3,836 156 119 –303 –1,499 Income taxes –615 –516 –712 –837 –44 –73 140 394 Earnings after tax 2,060 1,940 2,111 3,000 112 46 –163 –1,105 Operating result The TRATON GROUP increased its sales revenue by €1.1 billion (3%) in the report- ing period. This growth is attributable in particular to a positive market and product mix and to better unit price realization in the TRATON Operations busi- ness area. Sales revenue in the TRATON Financial Services segment increased by €252 million (22%) compared with the prior-year period. This was primarily due to a rise in portfolio volume. The TRATON GROUP’s gross profit improved by €806 million (12%) in the first nine months of 2024 compared with the prior-year period. This increase is attributable primarily to continued good price management combined with an improved cost structure in the TRATON Operations business area. Higher research and development costs had a negative impact on gross profit. Gross margin increased by 1.7 percentage points to 21.5% (9M 2023: 19.9%) in the TRATON GROUP and by 1.9 percentage points to 21.3% (9M 2023: 19.5%) in the TRATON Operations business area. In the reporting period, the TRATON GROUP’s distribution expenses were up €155 million (6%) and administrative expenses were up €171 million (15%) year- on-year. In both cases, the increase was primarily due to inflation-related cost increases, for example in personnel costs. The ratio of distribution and admin- istrative expenses to sales revenue therefore rose by 0.6 percentage points to 11.6% (9M 2023: 11.0%). ===== SIDA 8 ===== 8 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 4 Material Events 5 Incoming Orders and Unit Sales by Country, TRATON Operations 7 Condensed Income Statement of the TRATON GROUP 9 Segments of the TRATON GROUP 11 Net Cash Flow 12 Capital Expenditures, TRATON Operations 12 Primary Research and Development Costs, TRATON Operations 13 Net Liquidity/Net Financial Debt 14 Report on Expected Developments 15 Selected Financial Information Other operating result declined by €72 million (–23%) compared with the prior- year period. At TRATON Operations, in particular, expenses attributable to civil lawsuits against Scania and MAN in connection with the EU truck cases in individual countries had a negative impact. The TRATON Financial Services segment was also impacted by higher expenses from bad debt allowances on receivables year-on-year. This was offset in particular by the charges amounting to €102 million in connection with the sale of Scania Finance Russia in the prior-year period. Due to the effects described above, the TRATON GROUP ’s operating result increased by €407 million (15%) compared with the prior-year period. Adjustments to operating result Adjustments (€ million) 9M 2024 9M 2023 Scania Vehicles & Services 102 94 of which legal proceedings and related measures 95 20 of which restructuring measures 7 73 MAN Truck & Bus 57 39 of which legal proceedings and related measures 57 39 TRATON Operations 159 132 TRATON Financial Services – 102 TRATON GROUP 159 234 Adjustments at TRATON Operations in the reporting period amounted to €159 million (9M 2023: €132 million). They include expenses of €151 million (9M 2023: €59 million) in connection with civil lawsuits against Scania and MAN as a result of the EU truck cases in individual countries. These were recognized in the course of the updated reassessment of risks. The adjustments also contain €7 million (9M 2023: €73 million) in connection with the realignment of the Scania bus business. In the TRATON Financial Services segment, adjustments in the previous year in connection with the sale of Scania Finance Russia had amounted to €102 million. The TRATON GROUP’s operating result (adjusted) therefore rose by €332 million (11%) year-on-year. The TRATON GROUP increased its operating return on sales (adjusted) by 0.7 percentage points to 9.3% (9M 2023: 8.6%). In the TRATON Operations business area, operating return on sales (adjusted) increased by 1.1 percentage points to 10.4% (9M 2023: 9.3%). Financial result The TRATON GROUP’s financial result declined by €188 million (–79%) in the first nine months of 2024 compared with the previous year. Currency translation effects on net financial debt were the main driver of the decline, due above all to the devaluation of the Brazilian real versus the euro. By contrast, the higher earnings of the equity-method investment in Sinotruk (Hong Kong) Limited, Hong Kong, China (Sinotruk) had a positive effect. Taxes Income taxes rose by €100 million in the current reporting period. This corresponds to a tax rate of 23% (9M 2023: 21%). The slightly higher tax rate year-on-year is primarily due to the discontinuation of offsetting effects from the recognition of loss carryforwards from previous years. ===== SIDA 9 ===== 9 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 4 Material Events 5 Incoming Orders and Unit Sales by Country, TRATON Operations 7 Condensed Income Statement of the TRATON GROUP 9 Segments of the TRATON GROUP 11 Net Cash Flow 12 Capital Expenditures, TRATON Operations 12 Primary Research and Development Costs, TRATON Operations 13 Net Liquidity/Net Financial Debt 14 Report on Expected Developments 15 Selected Financial Information Segments of the TRATON GROUP Scania Vehicles & Services 9M 2024 9M 2023 Change Incoming orders (units) 56,413 61,781 –9% Sales (units) 74,055 67,743 9% of which trucks 70,034 64,283 9% of which buses 4,021 3,460 16% Book-to-bill ratio 0.76 0.91 –0.15 Sales revenue (€ million) 13,911 12,646 10% New Vehicles 9,458 8,105 17% Vehicle Services business1 2,871 2,761 4% Others 1,583 1,780 –11% Operating result (adjusted) (€ million) 1,998 1,622 376 Operating return on sales (adjusted) (in %) 14.4 12.8 1.5 pp 1 Including genuine parts and workshop services Scania Vehicles & Services recorded a significant decline in incoming orders for trucks compared with the comparative period. This was due in part to the continued reluctance to buy in the EU27+3 region. In South America, order acceptance was highly restrictive in the third quarter of 2024 so as to meet quality requirements when rolling out a new software generation. By contrast, incoming orders for buses increased substantially. Unit sales rose noticeably, driven by the solid order backlog, stable supply chains, and the increase in production volume. Sales revenue also grew noticeably year-on-year. This growth was mainly attribut- able to the very strong increase in the New Vehicles business in South America. Scania Vehicles & Services reported a moderate year-on-year increase in sales revenue in the EU27+3 region. In addition to the volume-related increase in sales revenue, operating result (adjusted) was lifted by a positive price and product mix and by lower product costs. Improved margins also had a positive impact on the result in the Vehicle Services business. By contrast, increased personnel costs negatively affected operating result (adjusted). MAN Truck & Bus 9M 2024 9M 2023 Change Incoming orders (units) 54,858 65,838 –17% Sales (units) 69,215 84,244 –18% of which trucks 46,275 60,718 –24% of which buses 3,632 3,631 0% of which MAN TGE vans 19,308 19,895 –3% Book-to-bill ratio 0.79 0.78 0.01 Sales revenue (€ million) 10,133 10,643 –5% New Vehicles 6,177 6,697 –8% Vehicle Services business1 2,178 2,103 4% Others 1,778 1,842 –3% Operating result (adjusted) (€ million) 751 757 –5 Operating return on sales (adjusted) (in %) 7.4 7.1 0.3 pp 1 Including genuine parts and workshop services MAN Truck & Bus recorded a substantial decline in incoming orders in the report- ing period compared with the previous year. This was due in particular to weaker demand for trucks in the EU27+3 region. The substantial year-on-year decline in unit sales is mainly attributable to the weak truck market environment in Germany, a truck model year change in the first half of 2024, and catch-up effects in the comparative period. Tighter regulatory requirements for vehicle software systems in the EU27+3 region led to delays in unit sales of buses, particularly in the third quarter of 2024. Despite the substantial decline in unit sales, sales revenue only fell moderately due to an improved price and product mix, with the result that operating result (adjusted) was almost on a level with the previous year. In addition, MAN benefited from an improved cost structure due to the realignment program completed at the end of 2023, despite lower production capacity utilization. ===== SIDA 10 ===== 10 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 4 Material Events 5 Incoming Orders and Unit Sales by Country, TRATON Operations 7 Condensed Income Statement of the TRATON GROUP 9 Segments of the TRATON GROUP 11 Net Cash Flow 12 Capital Expenditures, TRATON Operations 12 Primary Research and Development Costs, TRATON Operations 13 Net Liquidity/Net Financial Debt 14 Report on Expected Developments 15 Selected Financial Information International Motors (formerly: Navistar Sales & Services) 9M 2024 9M 2023 Change Incoming orders (units) 42,774 37,539 14% Sales (units) 66,772 68,176 –2% of which trucks 59,098 57,714 2% of which buses 7,674 10,462 –27% Book-to-bill ratio 0.64 0.55 0.09 Sales revenue (€ million) 8,256 8,357 –1% New Vehicles 6,084 5,946 2% Vehicle Services business1 1,388 1,562 –11% Others 784 849 –8% Operating result (adjusted) (€ million) 564 546 18 Operating return on sales (adjusted) (in %) 6.8 6.5 0.3 pp 1 Including genuine parts International Motors recorded a significant increase in incoming orders in the reporting period compared with the previous year, when incoming orders had been marked by restrictive order acceptance due to limited production capac- ities resulting from supply bottlenecks. Unit sales were down slightly year-on- year. This was primarily the result of the delayed ramp-up of sales of the new school bus model in the first half of 2024. Temporary delays in the final assembly of trucks due to missing parts caused by a fire at a mirror supplier’s production plant in the second quarter of 2024 were eliminated in the third quarter of 2024. Sales revenue was down slightly year-on-year, mainly due to a decline in the Vehicle Services business, which was negatively impacted by reduced transportation activity in the USA, and this in turn weighed on operating result (adjusted). By contrast, improved unit price realization had a positive impact on operating result (adjusted) and operating return on sales (adjusted). Volkswagen Truck & Bus 9M 2024 9M 2023 Change Incoming orders (units) 35,745 24,891 44% Sales (units) 35,742 29,752 20% of which trucks 30,214 24,711 22% of which buses 5,528 5,041 10% Book-to-bill ratio 1.00 0.84 0.16 Sales revenue (€ million) 2,328 1,943 20% New Vehicles 2,159 1,784 21% Vehicle Services business1 134 120 12% Others 34 38 –9% Operating result (adjusted) (€ million) 278 186 92 Operating return on sales (adjusted) (in %) 12.0 9.6 2.4 pp 1 Including genuine parts and workshop services Volkswagen Truck & Bus (VWTB) recorded a strong increase in unit sales in the reporting period. This was primarily attributable to lower truck and bus unit sales in the previous year due to the introduction of a new emissions standard, as well as an improved economic situation in the reporting period. In addition to the volume-related increase in sales revenue, improved product positioning and unit price realization in Brazil positively impacted operating result (adjusted) and operating return on sales (adjusted). ===== SIDA 11 ===== 11 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 4 Material Events 5 Incoming Orders and Unit Sales by Country, TRATON Operations 7 Condensed Income Statement of the TRATON GROUP 9 Segments of the TRATON GROUP 11 Net Cash Flow 12 Capital Expenditures, TRATON Operations 12 Primary Research and Development Costs, TRATON Operations 13 Net Liquidity/Net Financial Debt 14 Report on Expected Developments 15 Selected Financial Information TRATON Financial Services 9M 2024 9M 2023 Change Sales revenue (€ million) 1,409 1,158 22% Operating result (adjusted) (€ million) 158 221 –63 Operating return on sales (adjusted) (in %) 11.2 19.1 –7.9 pp Earnings before tax (€ million) 156 119 37 Equity (€ million)1 1,926 1,870 57 Return on equity (in %) 10.9 7.9 3.1 pp 1 As of September 30 In the first nine months of 2024, TRATON Financial Services launched the activ- ities of MAN Financial Services in several new markets. In addition, the captive financial services business of International Financial (formerly Navistar Financial Services) was further expanded. As expected, operating result (adjusted) was down year-on-year. The higher costs in connection with the expansion of the financial services business as well as increased refinancing and risk costs, could not be offset by a higher portfolio volume. Earnings before tax very strongly exceeded the level of the previous year. Earn- ings before tax in the comparative period had been impacted by negative accumulated other comprehensive income of €102 million from currency trans- lation effects attributable to Scania Finance Russia, which were reclassified to the income statement upon disposal. This resulted in an increase in the return on equity. As part of the acquisition of key aspects of the global financial services business of Volkswagen Financial Services for MAN and VWTB, TRATON Financial Services acquired the rights to the future MAN financial services businesses in Spain, Poland, Germany, and South Korea in the first nine months of 2024. Additionally, in Austria, 100% of the shares of MAN Financial Services GesmbH, Eugendorf, Austria were acquired. The consideration paid amounted to €183 million. The difference between the consideration paid and the carrying amounts of the net assets as of the acquisition dates, amounting to €168 million, was deducted from equity. On September 25, €188 million was contributed to TRATON Financial Services AB as an internal Group transaction. Net Cash Flow CONDENSED STATEMENT OF CASH FLOWS OF THE TRATON GROUP TRATON GROUP TRATON Operations TRATON Financial Services Corporate Items € million 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023 Gross cash flow 4,143 4,001 4,273 4,223 381 451 –510 –673 Change in working capital –3,500 –2,379 –1,323 –1,448 –2,612 –1,227 435 295 Net cash provided by/used in operating activities 644 1,621 2,949 2,775 –2,230 –776 –75 –378 Net cash used in investing activities attributable to operating activities –1,670 –1,491 –1,605 –372 –49 –683 –16 –437 Net cash flow –1,026 130 1,344 2,403 –2,279 –1,459 –91 –815 ===== SIDA 12 ===== 12 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 4 Material Events 5 Incoming Orders and Unit Sales by Country, TRATON Operations 7 Condensed Income Statement of the TRATON GROUP 9 Segments of the TRATON GROUP 11 Net Cash Flow 12 Capital Expenditures, TRATON Operations 12 Primary Research and Development Costs, TRATON Operations 13 Net Liquidity/Net Financial Debt 14 Report on Expected Developments 15 Selected Financial Information The TRATON GROUP ’s net cash used in operating activities declined by €978 million year-on-year to €644 million in the first nine months of 2024. This resulted primarily from an increase of €1.1 billion in cash tied up in work - ing capital, which was mainly due to the higher increase in financial services receivables of €1.4 billion. By contrast, there was a €143 million increase in gross cash flow, which above all reflects the €407 million increase in operating result, together with the €151 million higher tax payments. Cash tied up in working capital rose by a total of €3.5 billion in the reporting period. This primarily reflected the €2.3 billion increase in financial services receivables resulting from the expansion of the business volume and reported in net cash flow in the TRATON Financial Services segment. An additional fac- tor was the €1.1 billion increase in inventories within the TRATON Operations business area. Net cash used in investing activities attributable to operating activities rose by €179 million year-on-year to €1.7 billion, which is primarily due to increased investments of €328 million in property, plant, and equipment, intangible assets, and capitalized development costs. In addition, there had been a positive effect of €96 million from the sale of Scania Finance Russia in the previous year. This effect was the result of the purchase price payment of €400 million in the TRATON Operations business area, less the disposal of the cash of Scania Finance Russia of €304 million, which affected the TRATON Financial Services business area. In the previous year, the payment of €275 million for the gradual acquisition of key aspects of the global MAN and VWTB financial services business in the TRATON Financial Services business area had an offsetting effect. In the previous year, the adjustment of the ownership structure of the financial services business had led to a positive effect of €499 million on net cash used in investing activities and on net cash flow in the TRATON Operations business area. In this context, €547 million in dividends paid had a negative impact on the net cash used in financing activities in the TRATON Operations business area. These effects were eliminated at the TRATON GROUP level. Capital Expenditures, TRATON Operations The increase in capital expenditures from €854 million to €1.0 billion in the third quarter of 2024 is largely attributable to Scania Vehicles & Services, namely the construction of the production site in China, and to investments in connection with the further development of a driver’s cab for heavy vehicles at International Motors. Primary Research and Development Costs, TRATON Operations Primary research and development costs amounted to €1.7 billion in the report- ing period and were therefore higher than in the prior-year period (9M 2023: €1.6 billion). The rise is attributable to increased development activities in forward-looking technologies and the development of the TRATON Modular System. Development costs of €627 million (9M 2023: €493 million) were capi- talized, resulting in a capitalization ratio of 35.9% (9M 2023: 31.7%). Research and development costs not eligible for capitalization are included in cost of sales. ===== SIDA 13 ===== 13 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 4 Material Events 5 Incoming Orders and Unit Sales by Country, TRATON Operations 7 Condensed Income Statement of the TRATON GROUP 9 Segments of the TRATON GROUP 11 Net Cash Flow 12 Capital Expenditures, TRATON Operations 12 Primary Research and Development Costs, TRATON Operations 13 Net Liquidity/Net Financial Debt 14 Report on Expected Developments 15 Selected Financial Information Net Liquidity/Net Financial Debt NET LIQUIDITY/NET FINANCIAL DEBT OF THE TRATON GROUP TRATON GROUP TRATON Operations TRATON Financial Services Corporate Items € million 09/30/2024 12/31/2023 09/30/2024 12/31/2023 09/30/2024 12/31/2023 09/30/2024 12/31/2023 Cash and cash equivalents 2,129 1,730 5,268 4,256 318 246 –3,457 –2,772 Marketable securities, investment deposits, and loans to affiliated companies 978 427 271 1,653 225 331 482 –1,557 Gross liquidity 3,107 2,157 5,539 5,909 543 576 –2,975 –4,329 Third-party borrowings –24,873 –21,704 –6,653 –6,527 –16,228 –14,347 –1,992 –830 Net liquidity/net financial debt –21,766 –19,547 –1,114 –617 –15,685 –13,770 –4,967 –5,159 Net financial debt increased by €2.2 billion to €21.8 billion during the reporting period, driven primarily by net cash flow. For more information, refer to the “Net Cash Flow” section. To finance its activities, the TRATON GROUP issued bonds amounting to €5.0 billion (9M 2023: €2.8 billion) in the reporting period, including €4.0 billion (9M 2023: €2.3 billion) issued by TRATON Finance Luxembourg S.A., Strassen, Luxem bourg (TRATON Finance) allocated to Corporate Items. In return, repay- ments totaling €1.7 billion (9M 2023: €1.5 billion) were made. Of this amount, €1.0 billion (9M 2023: €612 million) was attributable to TRATON Finance within Corporate Items and €377 million (9M 2023: €869 million) to Scania Vehicles & Services in the TRATON Operations business area. The bond issues and repay- ments related primarily to the European Medium Term Notes programs. Additionally, long-term loans of €690 million (9M 2023: €– million) were taken out with Volkswagen International Finance N.V., Amsterdam, Netherlands, and loan liabilities to Volkswagen Group of America Finance, LLC, Wilmington, USA, grew by €465 million (9M 2023: €– million). The acquisition of key aspects of MAN’s financial services business included the assumption by the TRATON Financial Services segment of a loan from Volkswagen Financial Services AG with a volume of €221 million (9M 2023: €– million) as of September 30, 2024. Schuldscheindarlehen of €350 million (9M 2023: €– million) were repaid by TRATON SE. In addition, miscellaneous financial liabilities decreased by €864 million, due for the most part to the repayment of external loans as well as of commercial paper liabilities, which were primarily allocated to Corporate Items. TRATON SE placed €650 million (9M 2023: €250 million) with Volkswagen AG on a short-term basis. Additionally, TRATON SE paid out a dividend of €750 million (previous year: €350 million) for fiscal year 2023, more than double the dividend in the pre - vious year. The net financial debt/EBITDA (adjusted) ratio for the TRATON Operations business area including Corporate Items was –1.0 (December 31, 2023: –1.0) as of September 30, 2024. An increase in net financial debt in the TRATON Oper- ations business area including Corporate Items to €6.1 billion (December 31, 2023: €5.8 billion) was offset by the increase in EBITDA (adjusted) in the TRATON Operations business area including Corporate Items to €5.9 billion (December 31, 2023: €5.5 billion). ===== SIDA 14 ===== 14 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 4 Material Events 5 Incoming Orders and Unit Sales by Country, TRATON Operations 7 Condensed Income Statement of the TRATON GROUP 9 Segments of the TRATON GROUP 11 Net Cash Flow 12 Capital Expenditures, TRATON Operations 12 Primary Research and Development Costs, TRATON Operations 13 Net Liquidity/Net Financial Debt 14 Report on Expected Developments 15 Selected Financial Information Report on Expected Developments Based on the Company’s business performance in the first nine months of 2024 and given the unchanged expectations on the whole for the development of the truck and bus markets relevant for the TRATON GROUP , the Executive Board of TRATON SE is confirming the forecast for 2024 published in the 2023 Annual Report and reiterated in the 2024 Half-Year Financial Report for all key performance indicators. The financial management of the TRATON GROUP was adjusted in the first half of the year. Return on investment (ROI) in the TRATON Operations business area is no longer used for internal management and is therefore no longer considered to be the most important financial key performance indicator. This means that no forecast is being made for this indicator for 2024. Actual 2023 Forecast 2024 2023 Annual Report Forecast 2024 2024 Half-Year Financial Report Forecast 2024 9M 2024 Interim Statement TRATON GROUP Sales (units) 338,183 –5–10% –5–10% –5–10% Sales revenue (€ million) 46,872 –5–10% –5–10% –5–10% Operating return on sales (adjusted) (in %) 8.6 8.0–9.0 8.0–9.0 8.0–9.0 TRATON Operations Sales revenue (€ million) 45,736 –5–10% –5–10% –5–10% Operating return on sales (adjusted) (in %) 9.3 9.0–10.0 9.0–10.0 9.0–10.0 Net cash flow (€ million) 3,5941 2,300–2,800 2,300–2,800 2,300–2,800 Capex (€ million) 1,516 sharp increase sharp increase sharp increase Primary R&D costs (€ million) 2,170 moderate increase moderate increase moderate increase TRATON Financial Services Return on equity (in %) 8.4 7.0–10.0 7.0–10.0 7.0–10.0 1 This contained effects from the sale of the Russia activities and the adjustment of the ownership structure of the financial services business amounting to €899 million. ===== SIDA 15 ===== 15 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 15 Selected Financial Information 15 Income Statement 16 Condensed Statement of Comprehensive Income 17 Balance Sheet 19 Statement of Cash Flows 21 Contingent Liabilities and Commitments 21 Segment Reporting 23 Financial Calendar SELECTED FINANCIAL INFORMATION Income Statement of the TRATON GROUP for the period from January 1 to September 30 € million 9M 2024 9M 2023 Sales revenue 35,253 34,176 Cost of sales –27,662 –27,390 Gross profit 7,591 6,785 Distribution expenses –2,802 –2,646 Administrative expenses –1,299 –1,128 Net impairment losses on financial assets –97 –41 Other operating income 1,140 1,106 Other operating expenses –1,431 –1,380 Operating result 3,103 2,695 Share of earnings of equity-method investments 207 124 Interest income 344 241 Interest expense –728 –607 Other financial result –249 3 Financial result –427 –239 Earnings before tax 2,676 2,456 Income taxes –615 –516 current –790 –692 deferred 175 177 Earnings after tax 2,060 1,940 of which attributable to shareholders of TRATON SE 2,061 1,940 of which attributable to noncontrolling interests –1 0 Earnings per share in € (diluted/basic) 4.12 3.88 ===== SIDA 16 ===== 16 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 15 Selected Financial Information 15 Income Statement 16 Condensed Statement of Comprehensive Income 17 Balance Sheet 19 Statement of Cash Flows 21 Contingent Liabilities and Commitments 21 Segment Reporting 23 Financial Calendar Condensed Statement of Comprehensive Income of the TRATON GROUP for the period from January 1 to September 30 € million 9M 2024 9M 2023 Earnings after tax 2,060 1,940 Pension plan remeasurements recognized in other comprehensive income, net of tax 4 129 Fair value measurement of other equity investments, net of tax –39 –7 Share of other comprehensive income of equity-method investments that will not be reclassified subsequently to profit or loss, net of tax 1 3 Items that will not be reclassified subsequently to profit or loss –34 125 Currency translation differences, net of tax –489 19 Cash flow hedges, net of tax –14 –20 Cost of hedging, net of tax –1 7 Share of other comprehensive income of equity-method investments that will be reclassified subsequently to profit or loss, net of tax 0 0 Items that will be reclassified subsequently to profit or loss –504 7 Other comprehensive income, net of tax –538 132 Total comprehensive income 1,522 2,072 of which attributable to shareholders of TRATON SE 1,523 2,072 of which attributable to noncontrolling interests –1 0 ===== SIDA 17 ===== 17 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 15 Selected Financial Information 15 Income Statement 16 Condensed Statement of Comprehensive Income 17 Balance Sheet 19 Statement of Cash Flows 21 Contingent Liabilities and Commitments 21 Segment Reporting 23 Financial Calendar Balance Sheet Assets of the TRATON GROUP as of September 30, 2024, and December 31, 2023 € million 09/30/2024 12/31/2023 Noncurrent assets Goodwill 5,973 6,083 Intangible assets 7,066 7,114 Property, plant, and equipment 9,083 8,964 Assets leased out 5,110 5,658 Equity-method investments 1,526 1,482 Other equity investments 164 235 Noncurrent income tax receivables 133 109 Deferred tax assets 2,583 2,366 Noncurrent financial services receivables 8,671 7,767 Other noncurrent financial assets 605 469 Other noncurrent receivables 278 350 41,193 40,598 Current assets Inventories 8,328 7,447 Trade receivables 3,391 3,894 Current income tax receivables 351 172 Current financial services receivables 6,631 5,554 Other current financial assets 952 918 Other current receivables 1,364 1,334 Marketable securities and investment deposits 768 53 Cash and cash equivalents 2,129 1,730 23,913 21,101 Total assets 65,106 61,699 ===== SIDA 18 ===== 18 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 15 Selected Financial Information 15 Income Statement 16 Condensed Statement of Comprehensive Income 17 Balance Sheet 19 Statement of Cash Flows 21 Contingent Liabilities and Commitments 21 Segment Reporting 23 Financial Calendar Balance Sheet Equity and liabilities of the TRATON GROUP as of September 30, 2024, and December 31, 2023 € million 09/30/2024 12/31/2023 Equity Subscribed capital 500 500 Capital reserves 13,295 13,295 Retained earnings 6,589 5,464 Accumulated other comprehensive income –3,316 –2,777 Equity attributable to shareholders of TRATON SE 17,069 16,482 Noncontrolling interests 5 6 17,074 16,488 Noncurrent liabilities Noncurrent financial liabilities 16,200 14,044 Provisions for pensions and other post-employment benefits 1,847 1,847 Deferred tax liabilities 751 681 Noncurrent income tax provisions 269 264 Other noncurrent provisions 1,602 1,534 Other noncurrent financial liabilities 1,818 2,172 Other noncurrent liabilities 2,259 2,299 24,756 22,842 Current liabilities Current financial liabilities 8,673 7,660 Trade payables 5,511 5,791 Current income tax payables 366 226 Current income tax provisions 56 16 Other current provisions 2,180 1,993 Other current financial liabilities 2,085 2,115 Other current liabilities 4,405 4,567 23,275 22,369 Total equity and liabilities 65,106 61,699 ===== SIDA 19 ===== 19 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 15 Selected Financial Information 15 Income Statement 16 Condensed Statement of Comprehensive Income 17 Balance Sheet 19 Statement of Cash Flows 21 Contingent Liabilities and Commitments 21 Segment Reporting 23 Financial Calendar Statement of Cash Flows of the TRATON GROUP for the period from January 1 to September 30 € million 9M 2024 9M 2023 Cash and cash equivalents as of 01/01 1,730 1,743 Earnings before tax 2,676 2,456 Income taxes paid –784 –633 Depreciation and amortization of, and impairment losses on, intangible assets, property, plant, and equipment, and investment property1 1,057 1,013 Amortization of, and impairment losses on, capitalized development costs1 390 315 Impairment losses on equity investments1 1 1 Depreciation and amortization of products leased out1 726 820 Change in pension obligations –8 16 Earnings on disposal of noncurrent assets and equity investments –3 99 Share of earnings of equity-method investments –105 –97 Other noncash income/expense 194 10 Change in inventories –1,058 –1,235 Change in receivables (excluding financial services) 191 –387 Change in liabilities (excluding financial liabilities) –474 170 Change in provisions 326 356 Change in products leased out –193 –397 Change in financial services receivables –2,291 –887 Net cash provided by operating activities 644 1,621 Investments in intangible assets (excluding capitalized development costs) and in property, plant, and equipment2 –1,050 –857 Additions to capitalized development costs –627 –493 Investments to acquire subsidiaries and other businesses –37 –266 Investments to acquire other investees –28 –54 Proceeds from the disposal of subsidiaries 27 128 Proceeds from the disposal of other investees 10 – Proceeds from the disposal of intangible assets, property, plant, and equipment, and investment property 35 50 Change in marketable securities and investment deposits –685 –236 Change in loans –19 –19 1 Net of impairment reversals 2 Of which in the TRATON Operations business area: €–1,042 million (9M 2023: €–854 million) ===== SIDA 20 ===== 20 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 15 Selected Financial Information 15 Income Statement 16 Condensed Statement of Comprehensive Income 17 Balance Sheet 19 Statement of Cash Flows 21 Contingent Liabilities and Commitments 21 Segment Reporting 23 Financial Calendar € million 9M 2024 9M 2023 Net cash used in investing activities –2,374 –1,746 Dividend payouts –750 –350 Proceeds from the issuance of bonds 4,996 2,810 Repayment of bonds –1,734 –1,525 Repayment of Schuldscheindarlehen –350 – Proceeds from loans by Volkswagen companies3 1,420 – Loan repayments to Volkswagen companies4 –297 –1,720 Change in miscellaneous financial liabilities –864 1,127 Repayment of lease liabilities –197 –199 Net cash provided by financing activities 2,224 142 Effect of exchange rate changes on cash and cash equivalents –94 –39 Change in cash and cash equivalents 399 –21 Cash and cash equivalents as of 09/30 2,129 1,722 3 Volkswagen AG, Volkswagen International Finance, Volkswagen Group of America Finance 4 Volkswagen AG, Volkswagen International Luxemburg ===== SIDA 21 ===== 21 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 15 Selected Financial Information 15 Income Statement 16 Condensed Statement of Comprehensive Income 17 Balance Sheet 19 Statement of Cash Flows 21 Contingent Liabilities and Commitments 21 Segment Reporting 23 Financial Calendar Contingent Liabilities and Commitments of the TRATON GROUP as of September 30, 2024, and December 31, 2023 € million 09/30/2024 12/31/2023 Liabilities under buyback guarantees 2,780 2,926 Contingent liabilities under guarantees 556 777 Other contingent liabilities 1,011 1,133 4,346 4,835 Segment Reporting of the TRATON GROUP for the period from January 1 to September 30 2024 REPORTING SEGMENTS € million Scania Vehicles & Services MAN Truck & Bus International Motors 1 Volkswagen Truck & Bus TRATON Financial Services Total segments Reconciliation TRATON GROUP of which TRATON Operations Total sales revenue 13,911 10,133 8,256 2,328 1,409 36,039 –786 35,253 34,266 Intragroup sales revenue –380 –239 –26 –2 –119 –766 766 – –298 External sales revenue 13,531 9,894 8,230 2,326 1,291 35,273 –20 35,253 33,968 Operating result (adjusted) 1,998 751 564 278 158 3,749 –488 3,261 3,570 1 The International Motors segment corresponds to the segment previously reported as Navistar Sales & Services. 2023 REPORTING SEGMENTS € million Scania Vehicles & Services MAN Truck & Bus International Motors 1 Volkswagen Truck & Bus TRATON Financial Services Total segments Reconciliation TRATON GROUP of which TRATON Operations Total sales revenue 12,646 10,643 8,357 1,943 1,158 34,746 –571 34,176 33,352 Intragroup sales revenue –296 –194 12 –5 –97 –581 581 – –235 External sales revenue 12,350 10,449 8,369 1,937 1,061 34,165 11 34,176 33,117 Operating result (adjusted) 1,622 757 546 186 221 3,331 –402 2,929 3,113 1 The International Motors segment corresponds to the segment previously reported as Navistar Sales & Services. ===== SIDA 22 ===== 22 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 15 Selected Financial Information 15 Income Statement 16 Condensed Statement of Comprehensive Income 17 Balance Sheet 19 Statement of Cash Flows 21 Contingent Liabilities and Commitments 21 Segment Reporting 23 Financial Calendar RECONCILIATION TO THE TRATON GROUP ’S EARNINGS BEFORE TAX € million 9M 2024 9M 2023 Operating result (adjusted), total segments 3,749 3,331 Adjustments in connection with the war in Ukraine – –102 Adjustments related to legal proceedings and related measures –151 –59 Adjustments related to restructurings –7 –73 Operating result of the TRATON Holding –132 –128 Earnings effects from purchase price allocation not allocated to the segments –209 –217 Consolidation –146 –57 Operating result of the TRATON GROUP 3,103 2,695 Financial result –427 –239 Earnings before tax of the TRATON GROUP 2,676 2,456 ===== SIDA 23 ===== 23 TRATON GR OUP 9M 2024 INTERIM STATEMENT 4 Course of Business 15 Selected Financial Information 15 Income Statement 16 Condensed Statement of Comprehensive Income 17 Balance Sheet 19 Statement of Cash Flows 21 Contingent Liabilities and Commitments 21 Segment Reporting 23 Financial Calendar Financial Calendar March 10, 2025 2024 Annual Report The latest information and dates are available on TRATON SE ’s website at www.traton.com/financialcalendar. Munich, October 24, 2024 TRATON SE The Executive Board Publication Details Published by TRATON SE Hanauer Str. 26 80992 Munich Germany www.traton.com Corporate Communications media-relations@traton.com Investor Relations investor.relations@traton.com T: +49 89 36098 70 Concept and Design 3st kommunikation GmbH, Mainz Copyright ©2024 TRATON SE and 3st kommunikation GmbH This is a translation of the German original. In the event of discrepancies between the German language version and any translation thereof, the German version will prevail. ===== SIDA 24 ===== WWW.TRATON.COM