U.S. Army Awards $409 Million FMTV Contract to Oshkosh Defense

The U.S. Army has awarded Oshkosh Defense, LLC, an Oshkosh Corporation (NYSE: OSK) company, a $409 million contract to produce 1,661 Family of Medium Tactical Vehicle (FMTV) trucks and 31 trailers, under Order Year 7 of the current FMTV contract. Deliveries will continue through July 2018.

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Since 2009, Oshkosh has achieved record quality performance on the FMTV program. (Photo: Business Wire)

“Oshkosh is pleased to continue delivering highly reliable Medium and Light Medium Tactical Vehicles to the U.S. Army,” said Patrick Williams, Oshkosh Corporation vice president and general manager of Army programs. “Since 2009, Oshkosh has achieved record quality performance on the FMTV program, while far exceeding vehicle quantities during the initial years of the contract. Together with TACOM, we have successfully integrated more than 1,000 engineering changes (ECPs) that have improved the quality, reliability and manufacturability of the MTVs and LMTVs.”

The current generation FMTV A1P2 is comprised of 17 models ranging from 2.5-ton to 10-ton payloads, enabling the vehicle to perform a wide range of missions, and to support combat missions, relief efforts and logistics and supply operations. The Oshkosh FMTV seamlessly integrates technologies needed on the battlefield and in support of Homeland Security. The vehicles feature a parts commonality of more than 80 percent, resulting in streamlined maintenance, training, sustainment and overall cost efficiency for the U.S. Army, Army Reserves, National Guard and U.S. Air Force.

Oshkosh Defense was first awarded the FMTV contract in 2009 and to date, has delivered more than 35,000 FMTV trucks and trailers while saving U.S. taxpayers more than $2 billion. During its seven years of FMTV production, the U.S. Department of Defense recognized Oshkosh Defense with the Value Engineering Achievement Award (in the Contractor category) for reducing product life-cycle costs while improving performance and reliability. The U.S. Army Tank-automotive and Armaments Command (TACOM) Life Cycle Management Command (LCMC) nominated its Industry partner for the award based on Oshkosh-proposed improvements that resulted in $10.7 million of cost savings for the U.S. Army.

About Oshkosh Defense

Oshkosh Defense is a leading provider of tactical wheeled vehicles and life cycle sustainment services. For decades Oshkosh has been mobilizing military and security forces around the globe by offering a full portfolio of heavy, medium, light and highly protected military vehicles to support our customers’ missions. In addition, Oshkosh offers advanced technologies and vehicle components such as TAK-4® independent suspension systems, TerraMax™ unmanned ground vehicle solutions, Command Zone™ integrated control and diagnostics system, and ProPulse® diesel electric and on-board vehicle power solutions, to provide our customers with a technical edge as they fulfill their missions. Every Oshkosh vehicle is backed by a team of defense industry experts and complete range of sustainment and training services to optimize fleet readiness and performance. Oshkosh Defense, LLC is an Oshkosh Corporation company [NYSE: OSK].

To learn more about Oshkosh Defense, please visit us at www.oshkoshdefense.com.

About Oshkosh Corporation

Oshkosh Corporation is a leading designer, manufacturer and marketer of a broad range of access equipment, commercial, fire & emergency, military and specialty vehicles and vehicle bodies. Oshkosh Corporation manufactures, distributes and services products under the brands of Oshkosh®, JLG®, Pierce®, McNeilus®, Jerr-Dan®, Frontline™, CON-E-CO®, London® and IMT®. Oshkosh products are valued worldwide by rental companies, concrete placement and refuse collection businesses, fire & emergency departments, municipal and airport services and defense forces, where high quality, superior performance, rugged reliability and long-term value are paramount. For more information, please visit www.oshkoshcorporation.com.

®, TM All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.

Forward-Looking Statements

This press release 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 press release, 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.

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