Oshkosh Corporation Third Quarter Fiscal 2013 July 30, 2013 - PowerPoint PPT Presentation

Oshkosh Corporation Third Quarter Fiscal 2013 July 30, 2013 Charles L. Szews Chief Executive Officer Wilson R. Jones President and Chief Operating Officer David M. Sagehorn Executive Vice President and Chief Financial Officer Patrick N. Davidson Vice President, Investor Relations

Forward-Looking Statements This presentation contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Company’s future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this presentation, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project” or “plan” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially in the current environment where there are conflicting signs regarding the global economic outlook and the ability of the U.S. government to resolve budgetary and debt issues; the expected level and timing of the DoD procurement of products and services and funding thereof; risks related to reductions in government expenditures in light of U.S. defense budget pressures, sequestration and an uncertain DoD tactical wheeled vehicle strategy, including the Company’s ability to successfully manage the cost reductions required as a result of the significant projected decrease in sales levels in the defense segment; the Company’s ability to win a U.S. Joint Light Tactical Vehicle production contract award; the Company’s ability to increase prices to raise margins or offset higher input costs; increasing commodity and other raw material costs, particularly in a sustained economic recovery; risks related to facilities consolidation and alignment, including the amounts of related costs and charges and that anticipated cost savings may not be achieved; the duration of the ongoing global economic weakness, which could lead to additional impairment charges related to many of the Company’s intangible assets and/or a slower recovery in the Company’s cyclical businesses than Company or equity market expectations; risks related to the collectability of receivables, particularly for those businesses with exposure to construction markets; the cost of any warranty campaigns related to the Company’s products; risks related to production or shipment delays arising from quality or production issues; risks associated with international operations and sales, including foreign currency fluctuations and compliance with the Foreign Corrupt Practices Act; the Company’s ability to comply with complex laws and regulations applicable to U.S. government contractors; and risks related to the Company’s ability to successfully execute on its strategic road map and meet its long-term financial goals. Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission, including the Form 8-K filed today. All forward-looking statements speak only as of the date of this presentation. The Company assumes no obligation, and disclaims any obligation, to update information contained in this presentation. Investors should be aware that the Company may not update such information until the Company’s next quarterly earnings conference call, if at all. 2 OSK Third Quarter 2013 Earnings Call July 30, 2013

MOVE at Work in Q3* • Q3 EPS of $1.67 OSK Fiscal Q3 Performance – Nearly double Q3 FY12 $2,500 $2.00 – Access equipment and $2,204 $2,160 $1.67 $1.75 defense segments led the $2,000 $1.50 way Net Sales (millions) EPS $1.25 $1,500 • MOVE initiatives gaining $1.00 momentum $0.84 $1,000 $0.75 • Benefited from positive $0.50 $500 market conditions in North $0.25 America $0 $0.00 FY13 FY12 • Repurchased 1.1 million Net Sales EPS shares • Increasing FY13 adjusted EPS** estimate range – $3.60 to $3.70 * Continuing operations only. * * FY13 expectations exclude certain non-GAAP adjustments (see Appendix). 3 OSK Third Quarter 2013 Earnings Call July 30, 2013

Defense • Strong operations execution; effectively managed Q3 downsizing • International M-ATV sales enhanced Q3 results • Continuing to pursue international business – Kingdom of Saudi Arabia follow-on order for M-ATVs • U.S. Marine Corps P-19R ARFF contract win – Tremendous teamwork across the company • Preparing to submit JLTVs in August for testing 4 OSK Third Quarter 2013 Earnings Call July 30, 2013

Access Equipment • Continued to benefit from replacement demand – Sales in North America up ~25% • Global conditions remained mixed – Growth in the Middle East, contrasting mixed European market – Latin American market continued to grow, near-term outlook tempered by recent demonstrations in Brazil – Australia soft due to mining and energy slowdown • MOVE contributed to stronger performance 5 OSK Third Quarter 2013 Earnings Call July 30, 2013

Fire & Emergency • Continued evidence of municipal demand improving, but federal demand remained down • International focus yielding results – Asia – Middle East • Investing in MOVE initiatives with significant potential • Raising full year expectations 6 OSK Third Quarter 2013 Earnings Call July 30, 2013

Commercial • Concrete placement products – Mixer deliveries and orders remained strong • Refuse collection vehicles – Timing of orders contributed to lower Q3 sales vs. prior year – Strong reception at Waste Expo for new lightweight front end loader • Continuing to invest in MOVE – Team pursuing multiple initiatives 7 OSK Third Quarter 2013 Earnings Call July 30, 2013

Consolidated Results* (Dollars in millions, except per share amounts) Third Quarter Comments 2013 2012 • Sales impacted by: Net Sales $2,204.4 $2,159.8  Higher access equipment and commercial segment % Change 2.1% 7.2% deliveries  Lower volume in defense and fire & emergency Operating Income $225.6 $126.2 segments % Change 78.8% (6.5)% • Margins impacted by: % Margin 10.2% 5.8%  Strong performance by access equipment and defense segments EPS $1.67** $0.84  Product mix, including international defense sales % Change 98.8% 2.4%  Price realization  Product and process cost reductions * Continuing operations only. ** Includes $0.07 per share benefit as a result of lower average shares outstanding. 8 OSK Third Quarter 2013 Earnings Call July 30, 2013

Increasing Expectations for FY13* • Revenue range of $7.6 billion to $7.7 billion • Adjusted operating income range of $515 million to $525 million • Adjusted EPS from continuing operations range of $3.60 to $3.70 Segment Information Access Fire & Measure Defense Commercial Equipment Emergency Sales ~$3.1 ~$3.1 Nearly $0.8 $0.72 - $0.75 (billions) Operating 12.0%-12.25% ~7.5% 2.0%-2.5% 4.5%-5.0% Income Margin Additional Expectations Comments on Fourth Quarter • Expect lowest quarter EPS of the • Adjusted corporate expenses ~$145 million year due to seasonality and (higher share-based compensation and IT investments vs. FY12) defense sales decline. • Tax rate of ~29.5% • CapEx of ~$45 million • Free cash flow ~$275-$300 million * FY13 expectations reflect certain non-GAAP adjustments (see Appendix). • Average full year share count** of 88.8 million ** Excludes impact of any additional share repurchases in Q4. 9 OSK Third Quarter 2013 Earnings Call July 30, 2013

For information contact: Patrick N. Davidson Vice President, Investor Relations (920) 966-5939 pdavidson@oshkoshcorp.com Jeff D. Watt Director, Investor Relations (920) 233-9406 jwatt@oshkoshcorp.com

Appendix: Access Equipment (Dollars in millions) Comments Third Quarter • Sales impacted by: 2013 2012  Higher volume in Net Sales $941.5 $814.6 North America  Price realization % Change 15.6% 40.4%  Higher aftermarket volume  Lower volume in Australia • Margins impacted by: Operating Income $154.5 $88.2  Price realization % Change 75.1% 199.7%  Product and process cost reduction % Margin 16.4% 10.8%  Product mix • Backlog down 15% vs. prior year to $621 million  Mostly due to lower military backlog 11 OSK Third Quarter 2013 Earnings Call July 30, 2013