Message from
our CEO

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Our CEO

Aaron Ravenscroft

President and Chief Executive Officer

At Manitowoc, our vision is rooted in a simple yet profound belief: we build more than cranes - we help build the physical communities that support people today and for generations to come, while delivering full lifecycle solutions for the lifting industry. As we look to the future, we recognize our responsibility to continuously elevate the sustainability of our business model and ensure that our actions today enable a brighter tomorrow.

Over the past several years, we have worked hard to embed sustainability into The Manitowoc Way, the foundation of our culture and our engine for continuous improvement. This approach empowers every team member to help drive progress, and its focus on employee engagement continues to strengthen our Company. Looking back on 2025, I am inspired by the strong passion and ownership our employees bring to our sustainability initiatives every day.

Safety

In our industry, there is no higher calling than safety, and our teams delivered exceptional results in 2025 that reflect the strength of our safety culture. For the first time in Manitowoc’s history, we achieved a Recordable Injury Rate (RIR) below 1.0 at 0.94⁽¹⁾. Through aggressive processes of SLAMs (Stop-Look-Assess-Manage), Interactive Observations, and Toolbox Talks, we were able to reduce first aid injuries to an all-time low of 339 and lost time injury frequency rate (LTIFR) to 0.67⁽¹⁾.

Beyond the metrics, 2025 was a year of meaningful engagement and learning. In October, we held our second Manitowoc Global Safety Month, which saw strong participation across the Company and reinforced our focus on critical risks and everyday safety routines. We also expanded Safety Day workshops across all Product Support sites, creating hands‑on learning, opportunities, open conversations, and shared ownership of safety.

These achievements reflect a powerful truth: a strong safety culture is built by engaged people, collaborative learning, and continuously challenging how we work. While we are proud of the progress we made in 2025, we remain firmly committed to raising the bar even higher - because every injury is preventable, and every individual should go home safely, every day.

⁽¹⁾ per 200K hours worked.

Social

We believe that the best team wins - and building the best team starts with creating a workplace where every individual can contribute their talents and thrive. Our analysis highlighted two areas where we could strengthen our efforts, and we acted with conviction.

In industries like construction, women remain significantly underrepresented. To unlock the full potential of the global talent pool, we launched the Leans In program in 2022 to cultivate a community for our female leaders. Marking its three-year anniversary in July, the group continued to foster connections among women from various departments and regions worldwide. Since 2022, our percentage of female leaders has increased from 14.6% to 17.0%.

Our partnership with Brooke’s House, a rehabilitation center supporting women in recovery, began in 2020. Over the past year, Manitowoc has contributed $100,000 to advance the organization’s mission. The relationship has been mutually beneficial, as several Brooke’s House graduates have joined Manitowoc’s workforce, gaining meaningful employment, occupational skills, and job training while continuing their recovery from substance abuse.

Manitowoc continues to strengthen its commitment to veterans from the armed forces through the Veteran Employee Resource Group (VERG), which provides a strong network for employee veterans and encourages connection both within the Company and the broader community. This commitment was recognized in November 2025, when Military Times named Manitowoc one of its “Best for Vets” employers, ranking of #48 overall and #3 in the Manufacturing category.

In addition, last year we became an industry partner with the U.S. Department of War SkillBridge program. Through this initiative, service members can be granted up to 180 days of permissive duty to train full-time with Manitowoc as field or shop technicians. We are excited to leverage the skills of this highly trained workforce while providing them with valuable opportunities to learn, grow, and transition into meaningful civilian careers.

Building a great team is not just an organizational priority - it is a collective journey toward excellence.

Environmental

We firmly believe that what is measured gets improved, and this principle is at the core of our environmental strategy. Since 2019, through The Manitowoc Way, we have achieved meaningful progress including:

30% reduction in electricity consumption
8% of total electricity now sourced from renewables
22% reduction in natural gas consumption
61% reduction in waste to landfill

In addition, last year all our manufacturing sites achieved ISO 14001:2015 certification, marking an important milestone that reinforces our commitment to strong environmental management systems across our global operations.

Looking back on 2025, I am proud of what we have achieved together. Looking forward, I am filled with optimism. We remain steadfast in our commitment to our global sustainability targets and to transforming our vision into meaningful action. Guided by The Manitowoc Way, we will continue to advance responsibly, boldly, and collaboratively - building a more sustainable future for our employees, our customers, our communities, and generations yet to come.

Aaron H. Ravenscroft
President and Chief Executive Officer
The Manitowoc Company, Inc.