Aebi Schmidt Group Marks One Year After the Acquisition of The Shyft Group and NASDAQ Listing: Delivering on Commitments and Outlining the Long-Term Growth Strategy

• During the year following the acquisition of The Shyft Group and its NASDAQ listing, Aebi Schmidt Group delivered on its strategic and financial commitments, successfully executing the integration, increasing its annual synergy target, and advancing multiple strategic initiatives including new product launches, acquisitions, partnerships, simplified brand architecture, and expansion of facilities
  
  
• Company outlines its long-term strategy to realize more than $3b of annual revenue and a mid-teen adjusted EBITDA margin by 2030, leveraging its global market leadership, resilient business model and profitable growth tailwinds, as detailed in its accompanying investor presentation, which is available in the Investor Relations section of the Company's website at www.aebi-schmidt.com/investors

Over the past year, Aebi Schmidt Group has delivered on its targets and commitments since the time of the acquisition of The Shyft Group, including meaningful progress across all areas:

• The combined business operated effectively from day one, thanks to the commitment and collaboration of employees across both organizations, providing the foundation for the Group's strong operational and financial performance
  
  
• The annual run-rate synergy target has been raised from $25m to $30m pre-merger to at least $40m today, delivering higher cost savings and further improved operational excellence
  
  
• Aebi Schmidt launched the new ServicePRO truck body at the NTEA show in March 2026, with first deliveries scheduled to begin in the third quarter of 2026, and significantly expanded the total addressable market in the Airport business line, with the introduction of new product solutions for general aviation airports
  
  
• The Company expanded its reach through the opening and ramp-up of the new Chicago Super Center, bringing multiple products and service lines under one roof, and new upfit centers in Toronto and Minnesota
  
  
• The brand portfolio has been streamlined, from more than 20 brands to a focused 11-brand architecture, reducing complexity, strengthening customer engagement, and improving communication efficiency
  
  
• Customer relationships have been strengthened, gaining deals from strategic customers such as a recent $15m contract from an e-commerce customer (with a framework agreement of up to $42m), an $11m award to maintain German highways, and multiple landmark deals in Airport, including a $46m win from Airport de Paris
  
  
• Strategic partnerships have been developed, entering an agreement with Yeti Move to advance airport and winter fleet automation in North America, with exclusive US market rights, accelerating autonomous airside operations
  
  
• Integration of other recent acquisitions, such as LWS and Ladog, have been completed, reinforcing the Group’s growth platform for the future
  
  

Driven by this sustained execution across all strategic priorities, Aebi Schmidt Group experienced strong market momentum with Order Intake growing 29% year-over-year¹, delivering substantially improved profitability with adjusted EBITDA growth of 21% year-over-year since the acquisition.¹

“We have delivered on our commitments, and built a stronger company, combining the strengths of Aebi Schmidt and the former Shyft Group." said Barend Fruithof, Chairman and Chief Executive Officer of Aebi Schmidt Group. "I would like to thank all our employees for their commitment, collaboration and dedication throughout this integration. Their efforts have enabled the combined business to operate successfully from day one and have laid the foundation for our continued growth. With a successful integration behind us and a clear strategy ahead, we believe we are well-positioned to drive profitable growth and create long-term value for our shareholders.”

Building on this strong foundation, Aebi Schmidt Group is focused on its next phase of growth. As a global leader in specialty vehicles, the Company is targeting more than $3b in annual revenue and a mid-teen adjusted EBITDA margin by 2030, supported by its resilient business model and opportunities for profitable growth. The strategy underpinning these ambitions is detailed in the Company's newly released investor presentation, which is available in the Investor Relations section of the Company's website at www.aebi-schmidt.com/investors and in the Current Report on Form 8-K furnished by the Company to the SEC today.

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^{[1]   Year-over-year growth compares the post-acquisition period from Q3 2025 to Q1 2026 with the pro forma combined results for the corresponding period from Q3 2024 to Q1 2025. Financial results up until June 30, 2025, provided as basis for comparison to our Q3 2025 to Q1 2026 performance, include results for Aebi Schmidt and The Shyft Group on a combined basis inclusive of the period prior to the merger on July 1, 2025. This also applies to Q3 2024 to Q1 2025 figures used as the basis for year-over-year comparisons in this release, which are presented on a combined basis as if the merger had closed on January 1, 2024. Historical information presented on a combined basis does not reflect any pro-forma adjustments or adjustments for costs related to integration activities, cost savings or synergies that have occurred or may be achieved if the merger occurred on January 1, 2024.}