ALAMO CRANE SERVICE, INC.

who meet the eligibility requirements may contribute additional amounts (age 50 catch-up contributions and age 60 to 63 super catch-up contributions), which are not eligible for a Company matching contribution. Contributions are invested in the Plan investment options selected by the participant and are subject to certain Code limitations. The Company contributes on a matching basis 50 % of the first 6 % of each participant’s pre-tax or Roth after-tax contributions. In accordance with the Code, participant pre-tax and Roth after-tax contributions could not exceed $23,500 in 2025 and $23,000 in 2024. Pre-tax catch-up contributions could not exceed $7,500 in 2025 and 2024. Consistent with the requirements of SECURE 2.0 Act of 2022, participants between ages 60 and 63 were eligible to make ca

to which a participant is entitled is the benefit that can be provided from the participant’s vested account. Vesting — Participant contributions plus actual earnings thereon are immediately vested. Vesting for matching and non-matching Company contributions generally is as follows: Years of Service Vested Interest Less than 1 year None 1 year but fewer than 2 20 % 2 years but fewer than 3 40 % 3 years but fewer than 4 60 % 4 years but fewer than 5 80 % 5 years or more 100 % Participants whose employment terminates by reason of death, permanent disability or retirement are fully vested. Participants also are fully vested upon the attainment of age 65 . Certain accounts that were merged into the Plan from other plans are subject to different vesting schedules. Forfeited Accounts — When cer

itions, as of December 31, 2025, U.S. employees of the Company and its participating subsidiaries are eligible to participate in the Plan. Each new or rehired eligible employee is automatically enrolled in the Plan, unless the employee affirmatively opts out of participation, at a pre-tax deferral rate of 3 % of the employee’s eligible compensation. An employee who is automatically enrolled may affirmatively elect a different rate or to make all or a portion of his or her deferrals on a Roth after-tax or after-tax basis. Automatic contributions are invested in the Vanguard Target Retirement Fund option with a target retirement date closest to the year in which the participant will reach age 65 , unless the participant affirmatively elects to invest his or her deferrals in one or more of th

ibutions and related matching and non-matching Company contributions and Plan earnings. Participant accounts are also charged with withdrawals and an allocation of Plan losses and administrative fees that are paid by the Plan. Allocations are based on participant earnings or account balances. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account. Vesting — Participant contributions plus actual earnings thereon are immediately vested. Vesting for matching and non-matching Company contributions generally is as follows: Years of Service Vested Interest Less than 1 year None 1 year but fewer than 2 20 % 2 years but fewer than 3 40 % 3 years but fewer than 4 60 % 4 years but fewer than 5 80 % 5 years or more 100 % Participants w

put the Hourly Plan into a separate 401(k) retirement and savings plan. The Company provides a defined contribution 401(k) retirement and savings plan for eligible U.S. employees. Company matching contributions are based on a percentage of employee contributions. Company contributions to the plan during 2025, 2024 and 2023 were $ 4.2 million, $ 4.3 million, and $ 4.5 million, respectively. Three of the Company’s international subsidiaries also participate in a defined contribution and savings plan covering eligible employees. The Company’s international subsidiaries contribute between 0 % and 10 % of the participant’s salary up to a specific limit. Total contributions made to the above plans were $ 1.5 million, $ 1.2 million, and $ 1.1 million for the years ended December 31, 2025, 2024 an

by lower revenue and production inefficiencies in the Vegetation Management Division, partially offset by the healthy demand in Industrial Equipment Division. Selling, general and administrative expenses (“SG&A”) were $229.7 million (14.3% of net sales) in 2025 compared to $231.5 million (14.2% of net sales) in 2024, a decrease of $1.8 million attributable to labor cost savings actions taken in Vegetation Management, offsetting the additional costs related to the CEO succession, and acquisition and integration expenses. Amortization expense in 2025 was $16.5 million compared to $16.2 million in 2024, an increase of $0.3 million due to the acquisition of Ring-O-Matic. Interest expense for 2025 was $14.9 million compared to $20.5 million in 2024, a decrease of $5.6 million or 27.6% primarily