8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of the earliest event reported) August 9, 2022

MANITEX INTERNATIONAL, INC.

(Exact Name of Registrant as Specified in Its Charter)

Michigan	001-32401	42-1628978
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

9725 Industrial Drive, Bridgeview, Illinois 60455

(Address of Principal Executive Offices) (Zip Code)

(708) 430-7500

(Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, no par value	MNTX	The NASDAQ Stock Market LLC
Preferred Share Purchase Rights	N/A	The NASDAQ Stock Market LLC

Item 2.02 Results of Operations and Financial Condition.

On August 9, 2022, Manitex International, Inc. (the “Company”) issued a press release announcing its unaudited financial results for the second quarter ended June 30, 2022 (the “Press Release”). The full text of the Press Release is being furnished as Exhibit 99.1 to this Current Report. The Company’s conference call and webcast will take place today August 9, 2022 at 4:30 pm eastern time to discuss the second quarter 2022 results. The exhibit can be accessed from the Investor Relations section of the Company’s website at www.ManitexInternational.com.

The information in this Current Report (including Exhibit 99.1) is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

The Company references certain non-GAAP financial measures. A reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures is contained in the attached Press Release. Disclosures regarding definitions of these financial measures used by the Company and why the Company’s management believes these financial measures provide useful information to investors is also included in the Press Release.

Item 9.01 Financial Statements and Exhibits.

(a) Financial Statements of Businesses Acquired.

Not applicable.

(b) Pro Forma Financial Information.

Not applicable.

(c) Shell Company Transactions.

Not applicable.

(d) Exhibits.

See the Exhibit Index set forth below for a list of exhibits included with this Current Report on Form 8-K.

EXHIBIT INDEX

Exhibit Number	Description
99.1	Press release dated August 9, 2022
99.2	Presentation slides dated August 9, 2022
104	Cover Page Interactive Data File (formatted in iXBRL in Exhibit 101).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned thereunder duly authorized.

MANITEX INTERNATIONAL, INC.
By:	/s/ Joseph Doolan
Name:	Joseph Doolan
Title:	Chief Financial Officer

Date: August 9, 2022

EX-99.1

Exhibit 99.1

Manitex International Reports Second Quarter 2022 Results

Bridgeview, IL, August 9, 2022 — Manitex International, Inc. (Nasdaq: MNTX) (“Manitex” or the “Company”), a leading international provider of truck cranes, specialized industrial equipment, and construction equipment rental solutions, today announced results for the second quarter of 2022.

Q2 Financial Highlights*:

• Net sales increased 15.9% to $69.6 million, compared to $60.0 million in the second quarter of 2021;

• Net loss was $2.1 million, or $(0.10) per diluted share; Adjusted net income* for the second quarter of 2022 was $1.1 million, or $0.05 per share,

• Adjusted EBITDA* increased to $5.2 million, or 7.4% of net sales compared to $4.2 million, or 7.1% of net sales in the second quarter of 2021 and compared to $2.7 million, or 4.5% of net sales in the first quarter of 2022;

• Backlog of $214 million, as of June 30 2022, represents the eighth consecutive quarterly increase, and a 92% increase since June 30, 2021; the Company’s book-to-bill ratio was 1.1:1 for the second quarter of 2022;

• Operating expenses of $14.0 million includes $3.1 million in non-recurring reorganization and acquisition costs;

• Net debt was $78.7 million at the end of the quarter and the company had $42 million in liquidity as of 6/30/2022.

*Q2 2022 Consolidated results reflect the inclusion of Rabern Rentals; Adjusted numbers exclude $3.1 million in non-recurring reorganization and acquisition costs booked in Q2 and are discussed in greater detail and reconciled under “Non-GAAP Financial Measures and Other Items”

“We reported stronger net sales, a healthy increase in backlog, and margins that are trending higher and continue to progress towards previously stated financial objectives,” said Michael Coffey, CEO of Manitex International. “We remain encouraged that much of the persistent inflationary pressures and other supply chain challenges in 2022 have been offset by more favorable pricing, cost reductions and efficiency gains that we’ve implemented. We are pleased with the progress we’ve made, and we believe there is more to come. Recovering industrial markets, a robust order book, with bookings slightly outpacing sales, and other indicators of operating improvement are all providing us with confidence in a strong finish to the year and into 2023, with growth throughout each of our product categories.”

“Rabern Rentals, which we acquired in April, delivered strong results in the quarter, with sales that are well ahead of last year, a trend that we expect to continue and contribute nicely to our sales growth and margin recovery. At the end of the quarter, we announced deliveries had begun on a $15 million aerial work platform (AWP) order to Enel, and those deliveries continue to go as planned. Another one of our large accounts, Craneworks, with multiple locations throughout the country, placed a significant order for Manitex boomtrucks of various weight capacities. During the quarter, we also launched three new PM articulated crane products to our global dealer network, which were designed for global applications and in particular, with a focus on the North American markets,” concluded Mr. Coffey.

Financial Results for the Second Quarter ended June 30, 2022

Net revenues increased $9.6 million or 15.9% to $69.6 million for the three months ended June 30, 2022 from $60.0 million for the comparable period in 2021.

Net loss was $2.1 million, or $(0.10) per share for the second quarter compared with net income of $5.4 million in the same period last year. Adjusting for non-recurring items, including restructuring and acquisition expenses, adjusted net income was $1.1 million, or $0.05 per share for the second quarter of 2022 compared with $2.2 million, or $0.11 per share in last year’s same period, which included a $3.7 million non-recurring gain that was not repeated in this year’s June quarter.

The company’s Adjusted EBITDA was $5.2 million, or 7.4% of sales, compared with $4.2 million, or 7.1% of sales in last year’s same period. Adjusted EBITDA was 7.4%, the highest level achieved in two years. Rabern Rentals, which was acquired during the second quarter of 2022, is having a significant positive impact on the company’s margin performance, as anticipated.

Conference Call:

Management will host a conference call with an accompanying slide presentation, today, on August 9, at 4:30 PM ET, to discuss the results with the investment community. Anyone interested in participating in the call should dial 877-758-1913 from within the United States or 212-231-2928 if calling internationally. A replay will be available and can be accessed by dialing 844-512-2921 or 412-317-6671. Please use passcode 22020119 to access the replay. The call will be broadcast live and archived for 90 days over the internet with accompanying slides, accessible at the Company’s website at www.manitexinternational.com/eventspresentations.aspx.

Non-GAAP Financial Measures and Other Items

In this press release, we refer to various non-GAAP (U.S. generally accepted accounting principles) financial measures which management uses to evaluate operating performance, to establish internal budgets and targets, and to compare the Company’s financial performance against such budgets and targets. These non-GAAP measures, as defined by the Company, may not be comparable to similarly titled measures being disclosed by other companies. While adjusted financial measures are not intended to replace any presentation included in our condensed consolidated financial statements under generally accepted accounting principles (GAAP) and should not be considered an alternative to operating performance or an alternative to cash flow as a measure of liquidity, we believe these measures are useful to investors in assessing our operating results, capital expenditure and working capital requirements and the ongoing performance of its underlying businesses. A reconciliation of Adjusted GAAP financial measures is included with this press release. Results of operations reflect continuing operations. All per share amounts are on a fully diluted basis. The amounts described below are unaudited, are reported in thousands of U.S. dollars, and are as of the dates indicated.

About Manitex International, Inc.

Manitex International is a leading provider of mobile truck cranes, industrial lifting solutions, aerial work platforms, construction equipment and rental solutions that serve general construction, crane companies, and heavy industry. The company engineers and manufactures its products in North America and Europe, distributing through independent dealers worldwide. Our brands include Manitex, PM, MAC, Oil & Steel, Valla, and Rabern Rentals.

Forward-Looking Statements

Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995: This release contains statements that are forward-looking in nature which express the beliefs and expectations of management including statements regarding the Company’s expected results of operations or liquidity; statements concerning projections, predictions, expectations, estimates or forecasts as to our business, financial and operational results and future economic performance; and statements of management’s goals and objectives and other similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “we believe,” “we intend,” “may,” “will,” “should,” “could,” and similar expressions. Such statements are based on current plans, estimates and expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause the Company’s future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. These factors and additional information are discussed in the Company’s filings with the Securities and Exchange Commission and statements in this release should be evaluated in light of these important factors. Although we believe that these statements are based upon reasonable assumptions, we cannot guarantee future results. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Company Contact

CoreIR

Peter Seltzberg, Capital Markets and Corporate Advisory

Investor Relations

516-419-9915

MANITEX INTERNATIONAL, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share data)

(Unaudited)

	June 30, 2022			December 31, 2021
ASSETS
Current assets
Cash	$	16,588		$	21,359
Cash – restricted		207			222
Trade receivables (net)		44,895			30,515
Other receivables		2,599			2,039
Inventory (net)		76,295			64,965
Prepaid expense and other current assets		2,611			2,436
Assets held for sale		75			—
Total current assets		143,270			121,536
Total fixed assets, net of accumulated depreciation of $18,289 and $18,662 at June 30, 2022 and December 31, 2021, respectively		49,433			16,460
Operating lease assets		5,756			3,563
Intangible assets (net)		15,678			11,946
Goodwill		36,805			24,949
Other long-term assets		1,143			1,143
Deferred tax assets		258			178
Total assets	$	252,343		$	179,775
LIABILITIES AND EQUITY
Current liabilities
Accounts payable	$	59,140		$	44,136
Accrued expenses		12,913			10,539
Related party payables (net)		109			203
Notes payable		20,373			18,401
Current portion of finance lease obligations		470			399
Current portion of operating lease obligations		1,653			1,064
Customer deposits		3,954			7,121
Total current liabilities		98,612			81,863
Long-term liabilities
Revolving term credit facilities (net)		46,645			12,717
Notes payable (net)		24,317			10,089
Finance lease obligations (net of current portion)		3,656			3,822
Non-current operating lease obligations		4,103			2,499
Deferred gain on sale of property		467			507
Deferred tax liability		2,496			1,074
Other long-term liabilities		3,798			4,389
Total long-term liabilities		85,482			35,097
Total liabilities		184,094			116,960
Commitments and contingencies
Equity
Preferred Stock—Authorized 150,000 shares, no shares issued or outstanding at June 30, 2022 and December 31, 2021		—			—
Common Stock—no par value 25,000,000 shares authorized, 20,078,254 and 19,940,487 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively		133,129			132,206
Paid-in capital		3,073			3,264
Retained deficit		(70,463	)		(68,436	)
Accumulated other comprehensive loss		(6,608	)		(4,219	)
Equity attributable to shareholders of Manitex International		59,131			62,815
Equity attributed to noncontrolling interest		9,118			—
Total equity		68,249			62,815
Total liabilities and equity	$	252,343		$	179,775

MANITEX INTERNATIONAL, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except for share and per share amounts)

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Net revenues	$	69,577		$	60,045		$	129,997		$	107,213
Cost of sales		57,210			48,605			107,505			86,968
Gross profit		12,367			11,440			22,492			20,245
Operating expenses
Research and development costs		720			800			1,436			1,585
Selling, general and administrative expenses		11,431			8,069			19,877			15,813
Transaction costs		1,886			—			2,199			—
Total operating expenses		14,037			8,869			23,512			17,398
Operating income (loss)		(1,670	)		2,571			(1,020	)		2,847
Other income (expense)
Interest expense		(1,068	)		(558	)		(1,573	)		(1,083	)
Interest income		1			2			3			6
Gain on Paycheck Protection Program loan forgiveness		—			3,747			—			3,747
Foreign currency transaction loss		142			(85	)		93			(300	)
Other income (expense)		724			5			988			(15	)
Total other income (expense)		(201	)		3,111			(489	)		2,355
Income (loss) before income taxes		(1,871	)		5,682			(1,509	)		5,202
Income tax expense		232			317			364			609
Net income (loss)	$	(2,103	)	$	5,365			(1,873	)		4,593
Net income attributable to noncontrolling interest		154			—			154			—
Net (loss) income attributable to shareholders of Manitex International, Inc.	$	(2,257	)	$	5,365		$	(2,027	)	$	4,593
Income (loss) per share
Basic	$	(0.10	)	$	0.27		$	(0.09	)	$	0.23
Diluted	$	(0.10	)	$	0.27		$	(0.09	)	$	0.23
Weighted average common shares outstanding
Basic		20,058,966			19,902,617			20,012,735			19,873,840
Diluted		20,058,966			19,988,827			20,012,735			19,947,565

Net Sales and Gross Margin

	Three Months Ended
	June 30, 2022						March 31, 2022						June 30, 2021
	As Reported			As Adjusted			As Reported			As Adjusted			As Reported			As Adjusted
Net sales	$	69,577		$	69,577		$	60,420		$	60,420		$	60,045		$	60,045
% change Vs Q1 2022		15.2	%		15.2	%
% change Vs Q2 2021		15.9	%		15.9	%
Gross margin		12,367			12,367			10,125			10,125			11,440			11,441
Gross margin % of net sales		17.8	%		17.8	%		16.8	%		16.8	%		19.1	%		19.1	%

Backlog

	June 30, 2022		Mar 31, 2022			Dec 31, 2021			Sept 30, 2021			June 30, 2021
Backlog from continuing operations		213,810		205,682		$	188,981		$	113,584		$	111,170
Change Versus Current Period				4.0	%		13.1	%		88.2	%		92.3	%

Backlog is defined as purchase orders that have been received by the Company. The disclosure of backlog aids in the analysis the Company’s customers’ demand for product, as well as the ability of the Company to meet that demand. Backlog is not necessarily indicative of sales to be recognized in a specified future period.

Reconciliation of Net Income (Loss) To Adjusted Net Income

	Three Months Ended
	June 30, 2022			March 31, 2022		June 30, 2021
Net income (loss)	$	(2,103	)	$	230	$	5,365
Adjustments, including net tax impact		3,180			713		(3,134	)
Adjusted net income (loss)	$	1,077		$	943	$	2,231
Weighted diluted shares outstanding		20,058,966			20,014,180		19,988,827
Diluted earnings (loss) per share as reported	$	(0.10	)	$	0.01	$	0.27
Total EPS effect	$	0.15		$	0.04	$	(0.16	)
Adjusted diluted earnings (loss) per share	$	0.05		$	0.05	$	0.11

Reconciliation of Net Income (Loss) To Adjusted EBITDA

	Three Months Ended
	June 30, 2022			March 31, 2022			June 30, 2021
Net Income (loss)	$	(2,103	)	$	230		$	5,365
Interest expense		1,068			505			558
Tax expense		232			132			317
Depreciation and amortization expense		2,772			1,145			1,124
EBITDA	$	1,969		$	2,012		$	7,364
Adjustments:
Litigation / legal settlement	$	351		$	318		$	150
Rabern transaction costs		1,886			314			—
Stock compensation		582			232			278
Gain on PPP loan forgiveness		—			—			(3,747	)
FX		(142	)		49			85
Severance / restructuring costs		1,223			29			1
Valla earnout		(33	)		(202	)		—
Gain on sale of building		(672	)		—			—
Other		12			(27	)		109
Total Adjustments	$	3,207		$	713		$	(3,124	)
Adjusted EBITDA	$	5,176		$	2,725		$	4,240
Adjusted EBITDA as % of sales		7.4	%		4.5	%		7.1	%

Net Debt

	June 30, 2022		March 31, 2022		December 31, 2021
Total cash & cash equivalents	$	16,795	$	15,745	$	21,581
Notes payable - short term	$	20,373	$	20,388	$	18,401
Current portion of finance leases		470		450		399
Notes payable - long term		24,317		9,939		10,089
Finance lease obligations - LT		3,656		3,775		3,822
Revolver, net		46,645		12,730		12,717
Total debt	$	95,461	$	47,282	$	45,428
Net debt	$	78,666	$	31,537	$	23,847

Net debt is calculated using the Consolidated Balance Sheet amounts for current and long term portion of long term debt, capital lease obligations, notes payable, and revolving credit facilities minus cash and cash equivalents.

EX-99.2

Exhibit 99.2 Second Quarter 2022 Earnings Conference Call NASDAQ: MNTX NASDAQ CM: AGIL August 9, 2022

Forward-Looking Statement and Non-GAAP Measures Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995: This presentation contains statements that are forward-looking in nature which express the beliefs and expectations of management including statements regarding the Company’s expected results of operations or liquidity; statements concerning projections, predictions, expectations, estimates or forecasts as to our business, financial and operational results and future economic performance; and statements of management’s goals and objectives and other similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “we believe,” “we intend,” “may,” “will,” “should,” “could,” and similar expressions. Such statements are based on current plans, estimates and expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause the Company's future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward- looking statements. These factors and additional information are discussed in the Company's filings with the Securities and Exchange Commission and statements in this presentation should be evaluated in light of these important factors. Although we believe that these statements are based upon reasonable assumptions, we cannot guarantee future results. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. NASDAQ: MNTX 2

Changes at Manitex Announced April 11, 2022: Michael Coffey Named CEO, Acquisition of Rabern Rentals MICHAEL COFFEY ▪ 25 years of industry experience spanning operations management, strategic integrations, manufacturing, M&A as Director, General Manager, Chief Executive Officer, and Chief Operating Officer ▪ Experience includes heavy equipment manufacturing and service providers such as H-E International, (sold to Hitachi Construction Machinery in 2016) a private equity backed enterprise, serving mining, oil & gas, and power generation markets, Old Castle Materials, a subsidiary of CRH International, and AMECO, a subsidiary of Fluor ▪ Worked with Manitex International management to identify, negotiate, and close Rabern Rentals transaction RABERN RENTALS ▪ Annual revenues in 2021 of $21 million and $8 million Adjusted EBITDA ▪ Three locations, currently adding fourth, all in Texas ▪ Fleet/Rentals include 1,700 machines ▪ Adjusted EBITDA margins are multiples of Manitex currently NASDAQ: MNTX 3

Business Update Highlights (includes partial quarter results for Rabern Rentals Q2 2022) ▪ Second quarter net sales increased 15.9% to $69.6 million year-over-year, and 15.2% sequentially, compared to $60.0 million in Q1 2022 ▪ Adjusted EBITDA was $5.2 million, representing 7.4% of net sales in the second quarter of 2022 versus $4.2 million, or 7.1% of net sales in last year’s second quarter and $2.7 million, or 4.5% of sales in Q1 2022 ▪ Backlog increased slightly, keeping pace with improved sales @ $214M ⎼ Book-to-bill ratio was 1.1:1 ⎼ European business is 50% of total backlog Balance Sheet and Credit ▪ $78.7 million total net debt (6/30/2022) ▪ Leverage ratio of approximately 4.0x pro-forma TTM EBITDA (6/30/2022) ▪ $42 million in total cash and credit availability Operations ▪ New orders were strong, representing enduring demand ▪ Demand spanned across all product lines and rentals ▪ Inflationary pressures persist with supplier constraints hindering throughput and margins ▪ Re-integrating Valla with O&S for efficiency gains NASDAQ: MNTX 4

The Takeaways – Q2 2022 ▪ Rabern onboarding – On schedule and going to plan ▪ Rabern revenue is performing to forecast with increased sales over Q1 2022 ▪ PM articulated crane business delivered solid top line performance managing through supply constraints ⎼ Demand remains solid globally, with continued strength in Europe and North America ⎼ Backlog up 76% higher than a year ago ▪ Manitex straight mast truck cranes volume returns to pre-pandemic levels ⎼ Revenue growth of 36% year-over-year ⎼ Continued strength in larger tonnage cranes ⎼ Backlog continues to grow, now over $104 million ▪ Oil & Steel aerial work platforms (AWP) global growth and market share gains continue ⎼ New self-propelled electric and hybrid AWP launch – progressing to plan ⎼ Enel (Italian Electrical Corporation) order deliveries began in the quarter ⎼ Reorganizing manufacturing footprint to improve efficiency and ramp up aerial production ⎼ Backlog increased 90% over a year ago level ▪ Valla zero-emission cranes continue to generate new customers in North America ⎼ Expanding distribution and accessing new rental customers ⎼ Improving production throughput and expanding supply chain NASDAQ: MNTX 5

Q2 2022 Financials (in $millions except GM) $80 $250 69.6 213.8 205.7 $70 189.0 60.4 60.0 $200 $60 53.4 50.9 $150 $50 113.6 111.2 $100 $40 $30 $50 $20 $0 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Sales Backlog $6 25% 7.4% 19.1% 7.1% 17.8% 20% 15.8% 16.8% $4 14.8% 15% 4.5% 10% 3.1% $2 5% 8.7% 0.6% $0 0% Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Gross Margin Adjusted Adj EBITDA as % of Sales Notes: All numbers expressed in Millions except Gross Margin. NASDAQ: MNTX 6

Q2 Operating Results Amounts in USD 000's Q2 2022 Q1 2022 Q2 2021 (Except EPS) As Reported As Adjusted As Reported As Adjusted As Reported As Adjusted Net sales $ 69,577 $ 69,577 $ 60,420 $ 60,420 $ 60,045 $ 60,045 % change Vs Q2 2021 15.9% 15.9% % change Vs Q1 2022 15.2% 15.2% Gross margin $ 12,367 $ 12,367 $ 10,125 $ 10,125 $ 11,440 $ 11,441 % of sales 17.8% 17.8% 16.8% 16.8% 19.1% 19.1% Operating expenses $ 14,037 $ 9,983 $ 9,475 $ 8,566 $ 8,869 $ 8,332 % of sales 20.2% 14.3% 15.7% 14.2% 14.8% 13.9% Operating income (loss) $ (1,670) $ 2,384 $ 650 $ 1,559 $ 2,571 $ 3,109 Net income (loss) $ (2,103) $ 1,077 $ 230 $ 943 $ 5,365 $ 2,231 Diluted EPS $ (0.10) $ 0.05 $ 0.01 $ 0.05 $ 0.27 $ 0.11 EBITDA $ 1,969 $ 5,176 $ 2,012 $ 2,725 $ 7,364 $ 4,240 % of sales 2.8% 7.4% 3.3% 4.5% 12.3% 7.1% NASDAQ: MNTX 7

Net Debt – Q2 2022 June 30, 2022 March 31, 2022 December 31, 2021 Total cash & cash equivalents $ 1 6,795 $ 15,745 $ 2 1,581 Notes payable - short term $ 20,373 $ 20,388 $ 1 8,401 Current portion of finance leases 470 450 399 Notes payable - long term 24,317 9,939 10,089 Finance lease obligations - LT 3,656 3,775 3,822 Revolver, net 4 6,645 12,730 12,717 Total debt $ 95,461 $ 47,282 $ 4 5,428 Net debt $ 7 8,666 $ 31,537 $ 2 3,847 NASDAQ: MNTX 8

Closing Comments Demand | Sales ▪ Backlog remains strong and keeping pace with increased sales ▪ PM Released New Models – received well by customers (especially in North America) Production Constraints & Margins ▪ Inflationary and supply chain headwinds remain ▪ Q2 Countermeasures – showing results ⎼ Supplier Cost Containment ⎼ Pricing Increases now translating into improved margins Rabern Rentals ▪ Sales continue to improve ⎼ Quarter over quarter proforma sales increased 13% ▪ Post Acquisition Integration – on schedule ▪ Lubbock Expansion on schedule Electric and Self Driving AWP products are being well received in the USA ▪ Electric product demand remains strong (Oil & Steel) ▪ Announced the launch of our Enel AWP deliveries in the quarter NASDAQ: MNTX 9

APPENDIX NASDAQ: MNTX

Appendix – Reconciliations RECONCILIATION OF GAAP NET INCOME (LOSS) TO ADJUSTED NET INCOME (LOSS) Three Months Ended Three Months Ended June 30, 2022 March 31, 2022 June 30, 2021 June 30, 2022 March 31, 2022 June 30, 2021 Net income (loss) $ (2 ,103) $ 230 $ 5 ,365 Net income (loss) $ (2,103) $ 230 $ 5 ,365 Adjustments, including net tax impact 3,180 713 (3,134) Adjustments, including net tax impact 3,180 713 (3,134) Adjusted net income (loss) $ 1 ,077 $ 943 $ 2 ,231 Adjusted net income (loss) $ 1 ,077 $ 943 $ 2 ,231 Weigh W te e d ig d h ilte ute d d di sh lute ard e s sh oa urtstan es ou d tstan ing ding 20,05 2 80 ,9 ,0 65 68,966 20,01 2 40 ,1 ,0 81 04,180 19,98 1 89 ,8 ,9 28 78,827 DiluteD di e lu ate rn d in eg as rn (lio nss gs ) (l po er ss sh ) p ae rr e sh as arre ep a os rte red ported $ $ (0 . 1 0 ) (0.10$ ) $ 0 . 0 1 0.01$ $ 0 . 2 7 0.27 Total EPS effect $ 0.15 $ 0 .04 $ (0 .16) Total EPS effect $ 0.15 $ 0 .04 $ (0 .16) Adjuste Ad dju dste ilute d d di e lu ate rn d in eg as rn (lio nss gs ) (l po ess r sh ) p ae rr e share $ $ 0 . 0 5 0.05$ $ 0 . 0 5 0.05$ $ 0 . 1 1 0.11 NASDAQ: MNTX 11

Appendix – Reconciliations RECONCILIATION OF GAAP NET INCOME (LOSS) TO ADJUSTED EBITDA (IN THOUSANDS) Three Months Ended June 30, 2022 March 31, 2022 June 30, 2021 Net Income (loss) $ ( 2,103) $ 230 $ 5 ,365 Interest expense 1,068 505 558 Tax expense 232 132 317 Depreciation and amortization expense 2,772 1,145 1,124 EBITDA $ 1 ,969 $ 2 ,012 $ 7 ,364 Adjustments: Litigation / legal settlement $ 351 $ 318 $ 150 Rabern transaction costs 1,886 314 - Stock compensation 582 232 278 Gain on PPP loan forgiveness - - (3,747) FX (142) 49 85 Severance / Restructuring costs 1,223 29 1 Valla earnout (33) (202) - Gain on sale of building (672) - - Other 12 (27) 109 Total Adjustments $ 3 ,207 $ 713 $ ( 3,124) Adjusted EBITDA $ 5 ,176 $ 2 ,725 $ 4 ,240 Adjusted EBITDA as % of sales 7.4% 4.5% 7.1% NASDAQ: MNTX 12

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Document and Entity Information	Aug. 09, 2022
Document And Entity Information [Line Items]
Amendment Flag	false
Entity Central Index Key	0001302028
Document Type	8-K
Document Period End Date	Aug. 09, 2022
Entity Registrant Name	MANITEX INTERNATIONAL, INC.
Entity Incorporation State Country Code	MI
Entity File Number	001-32401
Entity Tax Identification Number	42-1628978
Entity Address, Address Line One	9725 Industrial Drive
Entity Address, City or Town	Bridgeview
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60455
City Area Code	(708)
Local Phone Number	430-7500
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Common Stock [Member]
Document And Entity Information [Line Items]
Security 12b Title	Common Stock, no par value
Trading Symbol	MNTX
Security Exchange Name	NASDAQ
Preferred Share Purchase Rights [Member]
Document And Entity Information [Line Items]
Security 12b Title	Preferred Share Purchase Rights
Security Exchange Name	NASDAQ