On this page of StockholderLetter.com we present the latest annual shareholder letter from ENERPAC TOOL GROUP CORP — ticker symbol EPAC. Reading current and past EPAC letters to shareholders can bring important insights into the investment thesis.

 •  12/22/2025 Letter Continued (Full PDF)
 •  12/11/2023 EPAC Stockholder Letter
 •  12/18/2024 EPAC Stockholder Letter
 •  More "Industrial Machinery & Equipment" Category Stockholder Letters
 •  EPAC Benford's Law Stock Score = 95

EPAC Shareholder/Stockholder Letter Transcript:

2025 ANNUAL REPORT
RAISING
THE
BAR

   DTA ADDS THE HIGHLY COMPLEMENTARY
HORIZONTAL MOVING CAPABILITY
to our existing vertical Heavy Lifting Technology, and Enerpac   s
operational discipline and global commercial footprint has helped
improve throughput at DTA   s facility and drive growth."
- PAUL STERNLIEB, PRESIDENT & CEO

2025 Annual Report | 1
CORPORATE
PROFILE
Enerpac Tool Group Corp. is a premier industrial tools, services, technology, and solutions provider serving
a broad and diverse set of customers and end markets for mission-critical applications in more than 100
countries. The Company makes complex, often hazardous jobs possible safely and efficiently. Enerpac
Tool Group   s businesses are global leaders in high-pressure hydraulic tools, controlled force products, and
solutions for precise positioning of heavy loads that help customers safely and reliably
tackle some of the most challenging jobs around the world.
$617M $154M +5%
FY2025
Revenue
FY2025
Adj. EBITDA*
~2200
Global
Employees
115
Years of
History
FY2025
Revenue Growth
~800
Distributors
~$2.2B
Market Cap**
100+
Countries
Served
GLOBAL LEADER IN INDUSTRIAL TOOLS & SERVICES
PRODUCTS
SERVICE
AND RENTAL
Cylinders/jacks, pumps, bolting
tools, presses, pullers, tools, Heavy
Lifting Technology (HLT), remote
and automated guided vehicles
Bolting, machining,
joint integrity
DIVERSIFIED
CUSTOMER BASE
EXTENSIVE GLOBAL
DISTRIBUTION
Specialty dealers
National distribution
Large OEMs
~800 long-standing
distribution relationships
FY2025 REVENUE MIX
*See appendix for a reconciliation of these measures to comparable measures under U.S. generally accepted accounting principles.
**As of December 11, 2025
~19% Service
~81% Product
Enerpac Tool Group

2 | 2025 Annual Report
STRONG FINANCIAL RESULTS
Enerpac Tool Group posted record revenue in FY2025 as a pure-play industrial tools and solutions
company, delivering a robust adjusted EBITDA margin* of nearly 25 percent, with opportunity
for further improvement in the coming years.
FISCAL-YEAR TRENDS
NET SALES ($M)
AND ORGANIC GROWTH**
8%
2%
$598
$590
11%
5%
$571
1%
22.8%
51.1%
$617
50.5%
49.3%
46.0%
FY22
FY23
FY24
FY25
FY21
46.5%
25.0% 24.9%
$147
$154
$136
$83
$75
FY22
FY23
FY24
FY25
FREE CASH FLOW ($M)*
ADJUSTED EPS*
14.5%
14.1%
$529
FY21
ADJ. EBITDA ($M)
AND MARGIN*
GROSS PROFIT MARGIN
$1.81
FY21
FY22
FY23
FY24
FY25
FY2025 IT&S REVENUE
BY REGION
$92
$1.72
APAC
$69
$1.45
$42
$70
$44
Americas
13%
47%
$0.81
$0.63
40%
FY21
FY22
FY23
FY24
Enerpac Tool Group
FY25
FY21
FY22
FY23
FY24
FY25
EMEA
*See appendix for a reconciliation of these measures to comparable measures under U.S. generally accepted accounting principles.
**Organic growth is a non-GAAP measure and excludes the impact of foreign exchange rates, and recent acquisitions and dispositions
identi   ed in the reconciliation of GAAP to non-GAAP measures attached in the appendix.

2025 Annual Report | 3
RAISING THE BAR
GROWTH STRATEGY PROGRESS UPDATE
EXPANSION IN TARGETED VERTICAL MARKETS
Invested in people and resources to grow vertical market-focused selling through key account management
Continued to grow in infrastructure end market through new product rollouts, improved commercial execution,
and investments in our Heavy Lifting Technology (HLT) business
DIGITAL TRANSFORMATION
Grew ecommerce revenue 32% year-over-year, delivering a 68% CAGR FY2021-25
Enhanced the Enerpac Connect   digital app, including addition of product registration features to enable
customer tracking of products
CUSTOMER-DRIVEN INNOVATION
Launched several new products including a new line of Core High-Tonnage Cylinders, RRH Cylinder line for bridge
launching, Mining MRO toolkits, new TL248 Track Lift System, and BTW calibration stations
Introduced safer, more controlled product alternatives by adapting existing solutions for new applications, such
as our Wooden Structure Pin Puller for timber railroad bridges
EXPANSION IN ASIA PACIFIC
Continued expansion of our sales coverage across key regional markets, which contributed to double-digit
growth in India
Increased our channel coverage, especially in key vertical markets, to reach more end customers
FY2025 ACCOMPLISHMENTS
Sustained excellent safety record
with a 0.53 Total
Case Incident
Rate
Completed the successful
integration of DTA with
excellent cross-selling
opportunities
Returned ~$71 million to
shareholders through our
share repurchase program
and dividends
Achieved 32%
ecommerce year-overyear sales growth
Continued global
roll-out of Enerpac
Commercial Excellence
(ECX)
Successfully
launched    ve new
products through
continued execution
of customer-driven
innovation program
Relocated company headquarters to downtown Milwaukee, WI, which
includes a state-of-the-art Innovation Lab that expands our new product
development capabilities
*See appendix for a reconciliation of these measures to comparable measures under U.S. generally accepted accounting principles.
Achieved record
revenue since
the relaunch of
Enerpac Tool
Group in 2019
with Adjusted
EBITDA margin*
of 24.9%
Enerpac Tool Group



 12/22/2025 Letter Continued (Full PDF)