Hyster-Yale Materials Handling 8K Results of Operations and Financial Condition | HY 8 Aug 16

Solutions

to ENHANCE

Performance

Investor Presentation

August 8, 2016

Solutions

to ENHANCE

Performance

Exhibit 99

Solutions

to ENHANCE

Performance

Safe Harbor Statement & Disclosure

This presentation includes forward-looking comments subject to important risks

and uncertainties.

It may also contain financial measures that do not conform

with accounting principles generally accepted in the United States of America (GAAP).

Refer to Hyster-Yale’s reports filed on Forms 8-K (current), 10-Q (quarterly), and

10-K (annual) for information on factors that could cause actual results to differ

materially from information in this presentation and for information reconciling

financial

measures

GAAP.

Past

performance

may

not

representative

future results.

Guidance noted in the following slides was effective as of the company’s most

recent earnings release and conference call (August 8, 2016). Nothing in this

presentation should be construed as reaffirming or disaffirming such guidance.

This presentation is not an offer to sell or a solicitation of offers to buy any of Hyster-

Yale’s securities.

Solutions

to ENHANCE

Performance

Hyster-Yale Snapshot

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

engineers, manufactures, sells and services a

comprehensive line of lift trucks and aftermarket parts.

Separate lift truck, attachments and fuel cell power

solutions segments.

Headquartered in Cleveland, Ohio

Approximately 6,300 employees globally

LTM 6/30/16:

Revenue –

$2.5 billion

Net income –

$56.4 million

EBITDA

(1)

–

$112.7 million

ROTCE

(1)

of 13.5% (Net cash basis)

Net debt at 6/30/16 –

$99.1 million

(1)

EBITDA and ROTCE are non-GAAP measures and should not be considered in isolation or as a substitute for GAAP measures. For discussion of non-GAAP

items and the related reconciliations to GAAP measures, see information in the Appendix starting on page 33.

Solutions

to ENHANCE

Performance

Bolzoni

Transaction

•

Q2 2016 -

HY acquired an approximately 94% ownership stake in Bolzoni S.p.A., a leading worldwide producer of

attachments, forks and lift tables under the Bolzoni Auramo and Meyer brand names

•

Early July 2016 -

remaining interest in Bolzoni

acquired and Bolzoni

delisted from the Italian stock exchange on 7/6/16

•

Aggregate Purchase Price –

€108.9 million (approximately $123.1 million)

•

Primary market is attachments for Class 1 and Class 5 products –

currently the majority of revenues are generated in

the EMEA market, primarily Eastern & Western Europe. Secondary presence in North America.

•

Continuing to operate as a stand-alone business with its own management team and Board of Directors

Helps ensure the integrity of OEM, dealer and customer information is maintained

•

Reported as a separate segment of the business

•

Implementation teams put in place to identify additional opportunities to increase revenue and profitability

•

Acquisition expected to be accretive to consolidated earnings, after excluding immediate costs of acquisition, estimated

integration costs and non-recurring purchase accounting adjustments

Q2 2016 Revenues -

$38.9 million and net income -

$0.1 million

Solutions

to ENHANCE

Performance

Bolzoni

Aquisition

–

Rationale

Expand global reach

Enhance solutions capabilities

Leverage excess capacity

Insource components

Closer to our customers

Accretive to earnings

External

Internal

Solutions

to ENHANCE

Performance

Our Businesses

Our Core Lift Truck Business

Organic growth through market share gain

Our Hydrogen Power Business

Rapid growth in emissions free customer applications

Our Attachment Business

Growth through targeting new markets

Solutions

to ENHANCE

Performance

Hyster-Yale Is a Full-Line Lift Truck Supplier…

Electric

Counterbalanced

Rider Trucks

Electric Narrow

Aisle Trucks

Electric Hand

Trucks

Internal

Combustion Engine

(cushion tire)

Internal

Combustion Engine

(pneumatic tire)

Electric

3 wheel Electric

4 wheel Electric

Pallet Trucks

Stackers

Very Narrow

Aisle Trucks

Order Pickers

Reach Trucks

Internal

Combustion

Engine

ICE CB

Laden Container

Handlers

Big Trucks

Empty Container

Handlers

Forklifts

Reach Stackers

CLASS 1

CLASS 2

CLASS 3

CLASS 4

CLASS 5

1.0T to 5.5T

1.5T to 6.0T

1.5T to 8.0T

1.0T to 7.0T

1.0T to 52.0T

Warehouse Equipment

Over 260 different truck models available

Solutions

to ENHANCE

Performance

…with a Full Range of Power Options, and…

Electric

Counterbalanced

Rider Trucks

Electric

Narrow

Aisle

Trucks

Electric

Hand

Trucks

Internal

Combustion Engine

(cushion tire)

Internal Combustion

Engine

(pneumatic tire)

CLASS 1

CLASS 2

CLASS 3

CLASS 4

CLASS 5

Lead Acid

Battery

Fuel Cell

Engine

LPG & Bi-fuel

Diesel Tier 3

/ Stage III

LPG & CNG

Diesel Tier 4

/ Stage IV

Lithium Ion

Battery

Solutions

to ENHANCE

Performance

… with a Broad Range of Attachments

Clamps

Multipallets

Rotators

Sideshifters

Fork Positioners

Push Pulls

Lifting Tables

Forks

Solutions

to ENHANCE

Performance

Europe 34%

China 22%

Americas

25%

Japan 7%

Asia-Pacific 8%

Middle East &

Africa 4%

Lift Truck Industry Overview

872

547

794

975

944

1,010

1,094

1,100

1,115

300

600

900

1,200

2008

2009

2010

2011

2012

2013

2014

2015

LTM Q2

2016

(units in thousands)

Global Lift Truck Industry Size

_____________________

Trend line represents 4.1% long-term CAGR Average Industry Size. Source: WITS. Represents order intake.

Global Lift Truck Industry Breakdown (Units)

Long-term CAGR (2004 –

2015) = 4.1%

Global Lift Truck Industry Size

_____________________

Source: WITS. LTM 6/30/16 and LTM 6/30/15 order intake.

Change over Prior Year

Total

Americas

Brazil

EMEA

JAPIC

+1%

-46%

+8%

-5%

Lift Truck Industry –

Unit Distribution by Class

Class 1

Electric

18%

Class 2

Electric

10%

Class 3

Electric

34%

Class 4 ICE

Class 5 ICE

35%

_____________________

Source: WITS. LTM 6/30/16 Orders Reports.

ICE = Internal Combustion Engine

Total Industry = 1,115k

Units

Class 4

ICE

Market Size -

_____________________

Source: Internal Company estimates

Market Size -

Size

Class 5

ICE

55%

Class 1

Electric

19%

Class 2

Electric

12%

Class 3

Electric

Estimated Industry Revenue Mix

_____________________

Source: WITS. LTM 6/30/16 Orders Reports.

Solutions

to ENHANCE

Performance

Lift Truck Business Target Economics Goal and Gap to Target

7% Goal

Achieve minimum

operating profit

margin of 7% at the

peak of the current

market cycle and

7% at mid-cycle of

the next market

cycle

Target

Economics gap

closure can be

achieved with

unit volume…

Stronger Industry

+ Share Growth

= Volume Leverage

LTM 6/30/16 Gap to Target Economics

Actual Lift Truck Operating Profit Margin %

4.1%

Margin

Variances

(0.5%)

Unit margin

(0.5%)

Parts/other

(0.0%)

Volume

Variances

3.4%

Manufacturing

variances/other

1.5%

Operating Expenses

1.9%

Lift Truck Operating Profit Margin % Gap

2.9%

Lift Truck Operating Profit Margin % Target

7.0%

Solutions

to ENHANCE

Performance

Leverage Gained from Moving Volume to Full Manufacturing Capacity

28,500

units of additional volume

$700 -

$800 million

of additional revenue &

$80 million

of operating profit

$30 -

$35 million

fixed cost absorption by moving from current capacity

utilization to full utilization of our manufacturing capacity

$40-$45 million

by meeting target economics in standard margin net of

increased SG&A spread over more units

At Full Capacity:

115,000 units / year

Expected over next 3 –

4 years

76%

24%

Capacity

Used

Unused

Solutions

to ENHANCE

Performance

Over the Remainder of this Market Cycle, Target Volumes Driven by…

Share growth of approx. 1.9% pts

> Strategic initiatives

> Share growth is expected to be

approximately 70% of volume

increase required

> Market and product mix may be headwinds

100

200

300

400

500

2009

2010

2011

2012

2013

2014

2015

2016*

EMEA Industry

100

150

200

250

300

2009

2010

2011

2012

2013

2014

2015

2016*

Americas Industry

Growth of 10-15% by 2019-2020**

Growth of 5-10% by 2019-2020**

150

250

350

450

2009

2010

2011

2012

2013

2014

2015

2016*

Asia Industry

Growth of 10-15% by 2019-2020**

* First 6 months of 2016 Annualized

**Growth is from 2015 levels

Actual

Prior Peak

Solutions

to ENHANCE

Performance

Hyster-Yale’s Economic Engine & Core Strategic Initiatives

Basic Business Areas

Our strategies are designed to drive increased share,

which in turn increases the lift truck population, which

drives parts and service volumes.

Geographic

and Product

Balance

Worldwide

Distribution

Strength to Drive

Market Share

Parts and Service

Volume

Large Lift Truck

Population in Service

Volume

Economies

of Scale

Design

Component Commonality

Supply Chain

Manufacturing

Quality

Marketing

Parts

Infrastructure

Capital Requirements

Improve

Warehouse

Position

Enhance

Independent

Distribution

Succeed in

Asia

Enhance Big

Truck Market

Position

Strengthen the Sales and

Marketing Organization

Low Cost of

Ownership

Understand

Customer

Needs

Hyster-Yale’s economic engine is driven by increasing unit volume and economies of scale. Core strategic initiatives were designed to

drive the economic engine by increasing share...

Commercialize

Nuvera’s

Technology

A large lift truck population base drives parts and service volume resulting in enhanced profitability for dealers and Hyster-Yale

Solutions

to ENHANCE

Performance

Early Stage

Mid-Stage

Achieved

Breakthrough

Understand Customer Needs

Low Cost of Ownership

Enhance Independent Distribution

Improve Warehouse Position

Succeed in Asia

Enhance Big Truck Market Position

Strengthen Sales and Marketing Organization

Commercialize Nuvera’s Fuel Cell Technology

Our core strategic initiatives are in various stages of maturity. Share gain is expected

to take place as they gain

momentum…

Core Strategic Initiatives –

Stages of Momentum

Solutions

to ENHANCE

Performance

Core Lift Truck Strategic Initiatives Update

Strategic Objective

Implementation Highlights

•

Provide the right product

and solution to meet the

specific needs of different

customers across multiple

industries

•

Increasing penetration of the Metals,

Trucking and Paper segments

•

Gained conquest business at several large

trucking accounts

•

Introduced efficient battery extraction

solutions for electric truck products in Europe

•

Strengthening competency for special

engineered solutions through dedicated

resources

Initiative

Understand

Customer Needs

Strategic Objective

Implementation Highlights

•

Deliver lowest cost of

ownership for all of

our customers based

on their specific

application

Initiative

Low Cost of

Ownership

•

Launching XT/MX Series 2-3 Ton ICE standard

truck

•

Acquisition of global distribution rights, excluding

Australia, of telematics solution

•

Strategic partnerships for enhanced automated

solutions

•

Introduced industry's first UL rated Lithium-ion

battery for pedestrian pallet trucks

Outcome: Win in Targeted Major Accounts and Applications

Outcome: Competitive Advantage across Product Segments

Key Elements

•

Segmentation of products and

industries

•

Development of Utility,

Standard and Premium

products

•

Range of options to match

needs of different industries

•

Targeted sales and marketing

effort

Key Elements

•

Understand major cost drivers:

Direct (truck price, fuel,

service, operator, uptime)

Indirect (safety, litigation,

pollution)

•

Implement right solutions

for lower costs

•

Automated product solutions

Solutions

to ENHANCE

Performance

Core Lift Truck Strategic Initiatives Update

Strategic Objective

Implementation Highlights

•

Develop the

strongest

independent,

exclusive dealer

network

Initiative

Enhance

Independent

Distribution

Strategic Objective

Implementation Highlights

•

Strengthen

penetration of the

growing

warehouse

segment

Initiative

Improve

Warehouse

Position

•

Completed a major restructuring of part of the

North America network that included a

competitor dealer conversion

•

Growth of our dual brand coverage in North

America

•

6 new dealers appointed in EMEA since the

beginning of 2015 and 3 new dealers appointed

since the beginning of 2016

•

Resources: Adding industry-focused direct salespeople

and solutions and application center expertise

•

Capability:

New products, enhanced selling tools and

trained dealers

•

Products: Targeted solutions for retail applications to

enhance productivity and operations

•

Results: Winning business in 5 out of the top 10 US

retailers’ distribution centers

Outcome: Best Distribution Channels in the Industry

Outcome: Be a Top Tier Global Competitor in Warehouse

Key Elements

•

Develop all dealers

•

Appoint / convert successful dealers

•

Expand number of dual line dealers

•

Enhance dealer value proposition

•

Combine dealer entrepreneurship

with OEM support

Key Elements

•

Enhance product ranges

•

Unique innovations

•

Continuous quality improvement

•

Develop stronger direct sales

capabilities

•

Develop dealer resources and

specialization

•

Enhance marketing services and

support

Solutions

to ENHANCE

Performance

Core Lift Truck Strategic Initiatives Update

Strategic Objective

Implementation Highlights

Initiative

Succeed in Asia

Strategic Objective

Implementation Highlights

Initiative

Enhance Big Truck

Market Position

•

new dealers appointed in China since

the beginning of 2016

•

Direct sales support on large accounts

•

Additional Big Truck sales by leveraging

global metals industry expertise

•

Launched additional UTILEV products in

2015

•

Conquest accounts won

•

Customer driver experience and

demonstration center fully operational

•

Record year in 2015 for overall Big Truck

shipments

•

In EMEA, continued growth in 2016 in

container handler and forklift bookings

with strong performance in Empty

Container Handlers

•

Expand market

penetration throughout

Asia

•

Increase leading market

position and become vendor

of choice in Big Truck

segment

Outcome: Increase Share and Strengthen Distribution at Accelerated Pace

Outcome: Enhance leading market position in Big Trucks

Key Elements

•

Organic growth through

development of dealer network

and direct selling capabilities

•

Development of long-term

strategic partnerships

•

Development of right products

•

Development of support

infrastructure

Key Elements

•

New products

•

Business unit concept in each

region

•

Global team coordination

•

Focus on industry and solutions

•

Success with large port

operators

•

Comprehensive Tier 4 offering

Solutions

to ENHANCE

Performance

Core Lift Truck Strategic Initiatives Update

Strategic Objective

Implementation Highlights

Initiative

Strengthen Sales

and Marketing

Organization

•

Recruited experienced individuals with

deep knowledge of the lift truck

business

•

Added expertise in dealer

management, account identification

and coverage, financial merchandising

and solutions development

•

Added expertise to focus on

implementing standard sales

processes in our independent dealers

•

Expanded investment in National and

Major Account sales and support -

winning conquest accounts

•

Increased global collaboration to

maximize efficiencies and

effectiveness

•

Strengthen and align sales

and marketing organization

in all geographic regions

Outcome: Gain momentum leading to higher unit volumes and enhanced market share

Key Elements

•

Greater accountability for

results through smaller sales

management areas

•

Leaders provided with new

tools and enhanced reporting

capabilities

•

Solutions Organization

integrates Engineering and

Special Product Engineering

(SPED) function with Sales and

improves Technical Sales

Support

•

Major focus on account

identification and coverage

•

Implementing new sales

approach with appropriate

tools to enhance solutions

selling skills

Solutions

to ENHANCE

Performance

Nuvera Hydrogen Power Business

Strategic Objective

Key Elements

Initiative

Commercialize

Nuvera’s Fuel

Cell Technology

•

Enables active participation in

the growing hydrogen and fuel

cell market

•

Integration of Nuvera’s

technology into HY’s lift truck

product range

•

Adds another power solution

to robust complement of

power solutions

•

Reinforces core strategies:

provides opportunity to meet

customers’ needs, drives

market share, enhances

margins and offers low overall

cost of ownership alternative

Outcome: Successfully create an integrated fuel cell power solution option for customers

•

Commercialize Nuvera’s

technology through

introduction of new fuel

cell and improved

hydrogen generation

products to enhance our

lift truck business value

proposition and to

support other share gain

initiatives

•

Expand power solution

options for customers

•

Develop fuel cell engine

family allowing integrated

solutions for lift trucks and

other OEMs

Implementation Highlights

•

Secured first total power solution

agreement in Q4 2015

��

Shipment of PowerEdge

units, lift

trucks and PowerTap

system began

in mid-2016

•

Completed several successful

PowerEdge

proof-of-performance

tests at customer facilities

•

Exploring fuel cell engine integration

with multiple OEMs. Synergies

identified with Hyster-Yale

requirements.

Solutions

to ENHANCE

Performance

Hydrogen Power for Lift Trucks

Hyster-Yale acquired Nuvera in December 2014 and intends to use the technology to offer

its customers a unique and value-creating packaged total power solution.

Advantages and Opportunities

Limited Maintenance

Emissions Free

Scalable Solution

Constant Power

Rapid Refueling

Emerging Market

Adoption by Major

Users

Solutions

to ENHANCE

Performance

The Hydrogen Power Market

25-50%

N. America Lift Truck Market

electric trucks sold

per year

150,000+

Estimated up to

can benefit from

Fuel Cell solutions

Source: David Greene et. al., Status and Outlook for the U.S. Non-Automotive Fuel Cell

Industry: Impacts of Government Policies and Assessment of Future Opportunities, Oak

Ridge National Laboratory, May 2011 (ORNL/TM-2011/101).

Fuel Cell Power penetration projected to triple by 2025

ling and changing batteries

* Depending on application

Economics

Significant ROI*

Productivity Increase

Time saved refueling

and changing batteries

Asset Utilization

Convert charging room to

usable space & improve truck

utilization

Constant Power

Power throughout shift

and improved truck

electronic life

Environmentally Clean

Minimal carbon footprint

and zero indoor

emissions

Global Lift Truck Market

650,000+

electric trucks sold

per year

Solutions

to ENHANCE

Performance

The Nuvera Total Power Solution

PowerTap

Hydrogen

Generation

PowerEdge

Fuel Cell

Orion

Fuel Cell Engine

Total

Power

Solution

Hydrogen Refueling

Low fixed costs ideal for

small to medium size

fleets

Scalable

Onsite generation

Current: ideally suited to

lift truck customer

Next Generation: Leap in

power density &

efficiency opens

opportunities

Engine

Solutions

to ENHANCE

Performance

Capturing More Lifecycle Value

Truck

Hyster-Yale

Maint

HY/Dealer

Energy

Utility Company

Fuel

(PowerTap®)

Fuel

(PowerTap®)

Energy

Utility Company

Nuvera/Dealer

PowerEdge®

Nuvera

Maint

HY/Dealer

Truck

Hyster-Yale

Lead Acid Battery*

PowerEdge

Solution*

*Representative Total Cost of Operation based on NREL 2013 report

Batteries &

Charger

Batteries &

Charger

Battery Supplier

Eligible for

30% US Tax

Credit

(1)

Eligible for

30% US Tax

Credit

(1)

_____________________

(1)

Currently

set to expire on 1/1/17

Batteries

$18-20k lifetime

spend ($12k for

3 batteries / $6-

8k for 1 charger)

Solutions

to ENHANCE

Performance

The Nuvera Story

Our Hydrogen Power Business

Why

Hydrogen

•

Purchased for a small investment

•

Investing pre-tax expense dollars to

commercialize

fuel-cell

technology

•

Solutions span Hydrogen Value Chain

•

Strong IP / Patent portfolio

•

Pipeline of new technologies

•

Rapid usage development in major

user fleets

•

Provides strong base for entry into

other industries

•

Growing interest from OEM’s

•

Nuvera’s

association with HY provides:

Industry and customer expertise

Leverage strong distribution channels

Financial stability

Financing options through HYG

Financial Services

Product validation process

Supply chain leverage and expertise

Simplified transaction –

single

supplier

•

No longer one player niche market

•

Growing core power source alternative

for lift trucks

Solutions

to ENHANCE

Performance

The Nuvera Plan

•

Develop PowerEdge

units for electric

lift trucks

•

Build commercial capabilities

•

Build strong links to HY distribution

•

First PowerEdge

units shipped mid-

2016

•

Mean time between failure (MTBF)

improvements to PowerTap

PT 50

•

Hercules

and Orion

2 technology

development

•

Financing package through HYG

Financial Services

•

Customer’s receptive to Hyster-Yale

competitive strengths

•

Hyster-Yale dealer engagement (launched

to sales force in April 2016)

•

Proof of Performance PowerEdge

programs

•

Turnkey Total Power Solution

•

Build customer-based industry and

application solutions

•

Strengthening supply chain

•

Cost reduction engineering

•

Hercules

and Orion

2 product

development

•

Development of increased capacity

PowerTap

concept

Phase 1

2016

Phase 1

2016

Phase 3

2017 –

2018

Phase 3

2017 –

2018

Phase 2

2016 –

2017

Phase 2

2016 –

2017

•

Break-even operating profit at 700

PowerEdge

and 10 PowerTap

units per

quarter at target margins

•

Develop synergistic OEM partner

opportunities

•

Launch Hercules

and Orion

® 2

•

Integrated fuel cell engines for full range of

Hyster-Yale products

•

Capture full aftermarket potential

•

Launch increased capacity PowerTap

Solutions

to ENHANCE

Performance

2016 Second Quarter Highlights

•

Acquisition of 100% of Bolzoni

S.p.A completed on July 6, 2016

•

Gains made in warehouse market strategic initiative but shift in mix

of products reduced revenues

•

Weak Brazil market performance and weakening North America

and Asia Big Truck markets negatively affected revenues and

operating profit

•

Bolzoni

reported revenues of $38.9 million

and net income of $0.1

million for Q2 2016

2016 Second Quarter Highlights

Short-term Outlook

2016 Second Quarter

LTM 6/30/16

Consolidated Revenue

$645.6

100.0%

$2,546.9

100.0%

Lift Truck Operating Profit

19.0

2.9%

102.7

4.1%

Bolzoni

Operating Profit

0.7

0.1%

0.7

Nuvera Operating

Loss

(8.3)

(1.3)%

(27.1)

(1.1)%

Consolidated

Operating Profit

$11.4

1.7%

$76.3

3.0%

Consolidated

Net Income

$8.3

1.3%

$56.4

2.2%

EBITDA

$23.3

3.6%

$112.7

4.4%

($ in millions)

•

Global lift truck market in H2 2016 expected to be comparable to H2 2015

•

H2 2016 lift truck revenues expected to be comparable to H2 2015

•

Lift truck net income in H2 2016, especially Q3 2016, expected to be

lower than H2 2015 -

increase in volumes more than offset by shift in

sales mix to lift trucks with lower average profit margins, higher SG&A

expenses and unfavorable manufacturing variances.

•

Bolzoni

net income expected to gradually increase in Q3 and Q4 2016

compared with Q2 2016

•

Nuvera

H2 2016 operating loss expected to be $14 -

$16 million

Solutions

to ENHANCE

Performance

Valuation Approach By Business

Lift Truck and Attachment Businesses

Hydrogen Power Business

Board Oversight as Separate Businesses

Incentives Tied to Individual Businesses

Strong Operating Cash Generation

Market Leading Products and Position

Mature Cyclical Industry

Value using Traditional Valuation Model of

EBITDA Multiple on a Net Debt Basis

Developing / Technology Industry

Distinct Technology / Patents in Fuel Cell

and Hydrogen Generation

Operating Cash Invested in New Product

Commercialization / Ramp Up

Value as Venture Business with Developed

Technology

Solutions

to ENHANCE

Performance

Our Competitive Advantages

•

Able to meet customers needs globally

•

Global economies of scale

•

Young/ fresh product line

•

Broad array of power options

•

Fuel cell power options

•

Source of aftermarket profitability

•

Barrier to entry

Global

Full Product Line

Field Population

Dealer Relationships

•

Independent distribution model

•

Exclusive distribution

•

Combine OEM excellence with entrepreneurial

distribution focused on customer

•

Long relationships

•

Able to meet most needs

•

National Account programs

Customer Relationships

•

High performance metrics

•

Large fleet program

Aftermarket Support

Employee Relationships

•

Engaged workforce

•

Experienced leadership

•

Equal treatment

•

High return for our stockholders

•

Low capital employed structure

•

Partnership relationships to limit capital needs

Strong Return on Capital

Solutions

to ENHANCE

Performance

HYSTER-YALE

A Solid Investment Option

Strong Balance

Sheet

Cash Generation &

Commitment to

Shareholder Return

Investment & Growth in

Game Changing Technologies

Leading Products &

Market Position

Strategies to Gain

Share in Growth

Segments & Markets

Customer Focused &

Solutions Oriented

Solutions

to ENHANCE

Performance

Hyster-Yale Use of Cash Priorities

Return Cash to Stockholders

Investments in Adjacent or Complementary

Businesses

Investments in Hydrogen Power Business

Investments in Share Gain Programs

Investments in Core Lift Truck Business

Strategic initiatives to accelerate growth or enhance margins

Acquisitions of technologies and other forklift-related

businesses

2014

2015

2016

Annual Dividends

(1)

$17.8m

$1.10/share

$18.4m

$1.14/share

$9.5m YTD

$1.18/share

2012 to 2014

Share Buyback

$49.8m / 694,653 shares of Class A common stock

Investments to commercialize Nuvera’s technology

(1)

Dollars represent total dividends paid during calendar year, while dividend per share represents the annualized dividend rate after each May increase in 2014, 2015 and 2016

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Appendix

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Performance

Non-GAAP Disclosure

Adjusted

Lift

Truck

Business

Operating

Profit,

EBITDA

and

return

total

capital

employed

are

not

measurements

under

U.S.

GAAP,

should

not

considered

isolation

substitute

for

GAAP

measures,

and

are

not

necessarily

comparable

with

similarly

titled

measures

other

companies.

Hyster-Yale

defines

each

the

following:

Adjusted

Lift

Truck

Business

Operating

Profit

defined

Lift

Truck

Operating

Profit,

reported,

adjusted

for

the

pre-tax

effect

the

$17.7

million

gain

sale

from

the

Brazil

land

and

facility

2014;

EBITDA

defined

income

before

income

taxes

and

noncontrolling

interest

income

(loss)

plus

net

interest

expense

and

depreciation

and

amortization

expense;

Return

total

capital

employed

(“ROTCE”)

defined

net

income

before

interest

expense,

after

tax,

divided

average

capital

employed.

Average

capital

employed

defined

average

stockholders’

equity

plus

average

debt

less

average

cash.

For

reconciliations

from

GAAP

measurements

non-GAAP

measurements,

see

the

following

pages.

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Non-GAAP Reconciliation

_____________________

($ in millions)

Year Ended December 31

Qtr.

2012

2013

2014

2015

6/30/2016

Reconciliation of EBITDA

Net income attributable to stockholders

$ 98.0

$ 110.0

$ 109.8

$ 74.7

8.3

$ 56.4

Noncontrolling interest income

0.1

0.2

0.4

0.1

Income taxes provision

7.0

17.2

39.9

29.4

3.5

21.6

Interest expense

12.4

9.0

3.9

4.7

2.0

5.5

Interest income

(1.5)

(1.8)

(1.1)

(1.5)

(0.7)

(2.0)

Depreciation and amortization expense

28.0

30.2

29.7

28.9

10.2

31.1

EBITDA

$ 144.0

$ 164.8

$ 182.6

$ 136.6

23.3

$ 112.7

Trailing 12

Months

Note: EBITDA in this investor presentation is provided solely as a supplemental disclosure with respect to operating results. EBITDA does not represent net income, as defined by U.S. GAAP and should not be considered as a substitute for net income or net loss, or as

an indicator of operating performance. The Company defines EBITDA as income before income taxes and noncontrolling interest income (loss) plus net interest expense and depreciation and amortization expense. EBITDA is not a measurement under U.S. GAAP and is

not necessarily comparable with similarly titled measures of other companies.

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Non-GAAP Reconciliation (continued)

_____________________

Note: Return on capital employed is provided solely as a supplemental disclosure with respect to income generation because management believes it provides useful information with respect to earnings in a form that is comparable to the Company’s cost of capital employed, which

includes both equity and debt securities, net of cash.

($ in millions)

Reconciliation of Return on Total Capital Employed (ROTCE)

LTM 6/30/16

Average Stockholders' Equity (6/30/16, 3/31/16, 12/31/15, 9/30/15, and 6/30/15)

$472.2

Average Debt (6/30/16, 3/31/16, 12/31/15, 9/30/15, and 6/30/15)

73.5

Average Cash (6/30/16, 3/31/16, 12/31/15, 9/30/15, and 6/30/15)

111.8

Average capital employed

$433.9

Net income

$56.4

Plus: Interest expense, net

3.5

Less: Income taxes on interest expense, net at 38%

(1.3)

Actual return on capital employed = actual net income before interest expense, net, after tax

$58.6

Actual return on capital employed percentage

13.5%

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Cash Flow before Financing Calculation

Trailing 12

Months

($ in millions)

Year Ended December 31

2011

2012

2013

2014

2015

6/30/2016

Reconciliation of Cash Flow before Financing

Net cash provided by operations

$54.6

$128.7

$152.9

$100.0

$89.4

$69.3

Net cash used for investing activities

(15.9)

(19.5)

(26.1)

(44.4)

(31.3)

(137.8)

Cash Flow before Financing

$38.7

$109.2

$126.8

$55.6

$58.1

($68.5)

Supplemental

Information

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The History of Hyster-Yale and its brands

Hyster founded in Portland, Oregon as the Willamette Ersted Company

1929

1944

Company name officially changed to Hyster Company

1875

Yale Lock Mfg. broadens its scope into materials handling

1963

Yale forklift truck business merges with Eaton Mfg. Industrial Truck Division

1971

Yale forges a partnership with Sumitomo Ltd

1989

Hyster and Yale merge to form NACCO Materials Handling Group (NMHG)

2012

1985

Yale acquired by NACCO Industries

1989

Hyster acquired by NACCO Industries

Hyster-Yale formed as independent public company following spin-off by NACCO

2011

NMHG introduces the UTILEV lift truck for the utility segment of the market

2014

NMHG, HY’s operating company, acquires Nuvera to enter the fast-growing hydrogen fuel

cell market

2016

NMHG renamed Hyster-Yale Group

HY completed acquisition of 100% of Bolzoni

S.p.A.

Hyster-Yale Global Footprint (excludes Bolzoni locations)

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Performance

Bolzoni

Global Footprint

7 Manufacturing plants

11 Commercial branches

1 Financial Holding

3 affiliated company

…. and more than 20

distributors

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Historical Consolidated Revenue

$2,057

$2,400

$2,489

$2,720

$2,824

$1,475

$1,802

$2,541

$2,469

$2,666

$2,767

$2,578

$2,547

$1,000

$2,000

$3,000

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

LTM

2016

($ in millions)

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_____________________

(1)

Lift Truck Segment Operating Profit, as reported

(2)

Adjusted Lift Truck Segment Operating Profit, which excludes a $17.7 million pre-tax gain on the sale of the Brazil land and facility, is a non-GAAP measure and should not be considered in isolation or as a substitute for the

GAAP measure. Management believes that this measure assists the investor in understanding the results of operations. For discussion of non-GAAP items and the related reconciliations to GAAP measures, see information in the

Appendix starting on page 33.

($ in millions)

2.9% Gap

Closure

Prior Cycle Market Peak

Mid-Cycle Market

Lift Truck Business Operating Profit Trends and % of Sales

7% TARGET

$57.5

$111.7

$134.4

$133.3

$128.1

$102.7

2.1%

4.5%

5.0%

4.8%

5.0%

4.1%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

$25.0

$50.0

$75.0

$100.0

$125.0

$150.0

2007

2012

2013

2014

2015

LTM 2016

$151.0

(1)

(2)

5.5%

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Our Business Has Been Transformed

Comprehensive, updated product line

Average product age since last upgrade –

less than 4 years

Designed to meet customer needs

and provide low overall cost of ownership

Multiple power solutions to meet

performance, cost, and environmental

needs

Product Range

Manufacturing

Globally integrated, lean operations with

economies of scale

Assembled in market of sale

Continuous efficiency improvements

DFT implementation globally

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Our Business Has Been Transformed

Centralized supply chain

management

Highly flexible low cost supply

chain

30%+ low cost country

sourcing

Concentrated supplier base

Intense focus on supplier

quality

Supply Chain

Aftermarket

Quality

Customer driven programs

North America’s product

quality has steadily

improved over the last five

years

Model Year upgrades

High first time fill %

Comprehensive all makes

parts program

Strong Fleet management

program

Telematics solutions across

product line

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Performance

Manufacturing

23%

Wholesale

Distribution

13%

Food & Beverage

12%

Rental

Home Centers/

Retail

18%

Freight & Logistics

11%

Paper

Other

Lift Truck Overview and Sources of Revenue

•

Leading global lift truck manufacturer in terms of units sold

–

#3 globally in 2015

–

Large installed base that drives parts sales

Over 830,000 units worldwide

–

Sales of 86,900 units in 2015

–

Sales of >4,700 units at SN JV in 2015

2015 Worldwide Sales by Product

2015 Sales by Geography

Americas

69%

Europe, Africa

& Middle East

24%

Asia-Pacific

Internal

Combustion

Engine

Units

(2)

52%

Electric Units

30%

Parts

13%

Other

2015

Retail

Shipments

End

Market

(1)

_____________________

(1)

Represents Hyster-Yale North American unit shipments by industry.

(2)

Includes Big Truck sales that represent 12.3% of total sales.

Key Highlights

•

Diverse customer and application base

•

Global independent dealer network

•

Comprehensive, updated global product line

•

Globally integrated operations with economies of scale

•

Experienced management team

Distribution Channel Strength and Diverse Customer Base

Blue Chip Customer Base

Over 1,100

global dealer

locations

More than

2,800

application

consultants

Over 11,500

service

technicians

National Accounts Profile

Independent Dealer Network

•

Focused on strategic customers with centralized

purchasing and geographically dispersed

operations across dealer territories

•

Fleet Management Program provides customers

with value-added services that include service,

aftermarket parts and comprehensive

management of materials handling needs

•

Two brand network strategy optimizes local

presence and customer reach

•

Key differentiating factors:

•

Long-term relationships with dealers

•

Territorial exclusivity encourages strong,

long-term relationships with customers

•

Brand exclusivity ensures dealers’ selling

efforts focused on Hyster-Yale products

Independent

Dealers

84%

National

Accounts

16%

Distribution Mix

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Our Long-Term Philosophy

Long-term

growth

Long-term

shareholders

Shareholder

protection

Senior

management

incentivized as

long-term

shareholders

Increase

shareholder value

Return on Capital

Employed and Market

Share Increase focus

Hyster-Yale Materials Handling (HY) 8-KResults of Operations and Financial Condition