Douglas Dynamics, Inc.

Dividend & Liquidity Net cash used in operating activities decreased $6.4 million in the first half of 2025 to $12.7 million compared to the same period last year, due to improved earnings somewhat offset by changes in working capital.

SEC original ↗Douglas Dynamics, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Capital expenditures increased by $2.4 million in the first half of 2025 compared to 2024 as planned.

SEC original ↗Douglas Dynamics, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

The company continues to expect 2025 Capital Expenditures to be towards the higher end of the traditional range of 2% to 3% of Net Sales.

SEC original ↗Douglas Dynamics, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Successfully returned $12.9 million of cash to shareholders through the payment of a quarterly cash dividend of $0.295 per diluted share and repurchase of approximately 210,000 shares of company stock.

SEC original ↗Douglas Dynamics, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Douglas Dynamics Second Quarter 2025 Page 5 Adjusted EBITDA represents net income before interest, taxes, depreciation, and amortization, as further adjusted for certain charges consisting of unrelated legal and consulting fees, stock-based compensation, severance, restructuring charges, CEO transition costs, debt modification expense, loss on extinguishment of debt, write downs of property, plant and equipment, and impairment charges.

SEC original ↗Douglas Dynamics, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

The Company s management also uses Adjusted EBITDA for planning purposes, including the preparation of its annual operating budget and financial projections, and to evaluate the Company s ability to make certain payments, including dividends, in compliance with its senior credit facilities, which is determined based on a calculation of Consolidated Adjusted EBITDA that is substantially similar to Adjusted EBITDA.

SEC original ↗Douglas Dynamics, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Today, we are focused on optimizing our current business while pursuing growth opportunities to expand our offering.

SEC original ↗Douglas Dynamics, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

These statements include information relating to future events, future financial performance, strategies, expectations, competitive environment, regulation, product demand, the payment of dividends, and availability of financial resources.

SEC original ↗Douglas Dynamics, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

These statements are often identified by use of words such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will" and similar expressions and include references to assumptions and relate to our future prospects, developments, and business strategies.

SEC original ↗Douglas Dynamics, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

The Company takes a security interest in the inventory as collateral for the receivable but often does not have a priority security interest.

SEC original ↗Douglas Dynamics, Inc. — 10-Q Quarterly report10-QAug 3, 2026

These statements include information relating to future events, product demand, the payment of dividends, future financial performance, strategies, expectations, competitive environment, regulation and availability of financial resources.

SEC original ↗Douglas Dynamics, Inc. — 10-Q Quarterly report10-QAug 3, 2026

Economic and tariff uncertainty persists, but our U.

SEC original ↗Douglas Dynamics, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Such statements involve known and unknown risks, uncertainties and other factors that could cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.

SEC original ↗Douglas Dynamics, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Legal Proceedings 28 Item 1A.

SEC original ↗Douglas Dynamics, Inc. — 10-Q Quarterly report10-QAug 3, 2026

Commitments and Contingencies In the ordinary course of business, the Company is engaged in various litigation including product liability and intellectual property disputes.

SEC original ↗Douglas Dynamics, Inc. — 10-Q Quarterly report10-QAug 3, 2026

However, the Company does not believe that any pending litigation will have a material adverse effect on its consolidated financial position.

SEC original ↗Douglas Dynamics, Inc. — 10-Q Quarterly report10-QAug 3, 2026

Such statements involve known and unknown risks, uncertainties and other factors that could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.

SEC original ↗Douglas Dynamics, Inc. — 10-Q Quarterly report10-QAug 3, 2026