Doosan Bobcat Focuses on Company Growth and Sustainability to
Remain a Global Leader in Compact Equipment

I would like to extend our appreciation to our shareholders and customers for
their generous support of Doosan Bobcat.

Nearly 65 years ago, Doosan Bobcat invented the world's first skid-steer loader.
Since then, amid the rapidly changing business environment,
we have grown steadily as a leader in the compact equipment industry.

Doosan Bobcat, a company synonymous with skid-steer loaders, produced its
one-millionth loader in 2014—more than all other brands combined,
a testament to the powerful brand built over the last six decades.

Over the past few years, Doosan Bobcat extended its reach by launching tractors and
mowers among other products in the grounds maintenance equipment industry,
quickly establishing its position in the market.
The company’s growth trajectory continued in 2021 through the acquisition of Doosan
Industrial Vehicle (DIV), which expanded its business portfolio
to include material handling equipment that has high growth potential.

Currently, the compact equipment industry is evolving with a new focus on automation,
connectivity and electrification. In 2022, Doosan Bobcat, brought positive disruption
to the market by introducing the world's first all-electric compact track loader, the Bobcat® T7X.
By breaking the mold and innovating with purpose, Doosan Bobcat continues
to create new solutions for customers’ toughest challenges.

In diverse fields including construction, agriculture, and landscaping equipment,
along with portable power and industrial vehicles, Doosan Bobcat helps its stakeholders,
including its employees, fulfill their growth potential while driving global leadership
in the compact equipment industry.

On its journey toward achieving this vision, Doosan Bobcat will always prioritize
ESG (environmental, social, and governance) commitments to the communities
where we live and work—and more broadly, the world we serve.

Doosan Bobcat will always be your reliable partner that empowers you to accomplish more.

Thank you,

Vice Chairman of Doosan Bobcat Scott Park