Oshkosh Defense Awarded $477 Million Delivery Order for New and Recapitalized HEMTT A4s

Oshkosh Corporation (NYSE:OSK), announced today that its Defense division has received a delivery order for $477 million from the U.S. Army Tank-automotive and Armaments Command (TACOM). The deliver order calls for more than 1,350 new and recapitalized Heavy Expanded Mobility Tactical Truck (HEMTT) A4s and more than 1,000 Palletized Load System Trailers (PLST).

With this latest order, the value for the Oshkosh Family of Heavy Tactical Vehicles (FHTV) III contract has risen to more than $2.1 billion. The delivery order includes 750 new vehicles and 600 recapitalized vehicles, comprised of the Oshkosh® HEMTT A4 variants of tankers, wreckers, cargo and Load Handling Systems (LHS).

“Recapitalization by Oshkosh provides our customers and the taxpayers with a valuable and cost effective means of returning vehicles to the fleet. Through this program, Oshkosh delivers a vehicle with the performance, reliability and all the modern enhancements of a new truck but at a lower price point,” said Charlie Szews, Oshkosh Corporation president and chief operating officer. “This contract is evidence of our commitment to build and deliver mission-proven, rugged and reliable vehicles for the military.”

Through the Oshkosh Defense remanufacturing and recapitalization services, heavily used vehicles are returned to Oshkosh, stripped to the frame rails and completely rebuilt to like-new condition. Vehicles are put through the same extensive road tests, performance tests and inspection procedures as new vehicles. They receive the latest upgrades, are considered to have zero miles and zero hours, and are delivered with the Oshkosh full bumper-to-bumper warranty.

The HEMTT’s 13-ton payload and off-road capabilities make it the backbone for the U.S. Army’s logistics fleet. Since its introduction in 1985, the HEMTT has helped keep the U.S. Army on the move during major conflicts, such as Operations Desert Storm and Iraqi Freedom. The HEMTT A4 features a fully air-conditioned and armor-ready cab, a more powerful drivetrain, improved suspension, safety improvements and other structural changes to make installation of add-on armor in the field quicker and easier.

The PLST is part of the PLS system designed to meet the U.S. Army’s distribution and resupply needs in even the most challenging military missions. The PLS truck and trailer form a self-contained system that reduces the need for forklifts or other material-handling equipment, and both carry a demountable cargo bed, also known as a flatrack, featuring a 16.5-ton payload capacity.

About Oshkosh Defense

Oshkosh Defense, a division of Oshkosh Corporation, is an industry-leading global designer and manufacturer of tactical military trucks and armored wheeled vehicles, delivering a full product line of conventional and hybrid vehicles, advanced armor options, proprietary suspensions and vehicles with payloads that can exceed 70 tons. Oshkosh Defense provides a global service and supply network including full life-cycle support and remanufacturing, and its vehicles are recognized the world over for superior performance, reliability and protection. For more information, visit www.oshkoshdefense.com.

About Oshkosh Corporation

Oshkosh Corporation is a leading designer, manufacturer and marketer of a broad range of specialty access equipment, commercial, fire & emergency and military vehicles and vehicle bodies. Oshkosh Corp. manufactures, distributes and services products under the brands of Oshkosh®, JLG®, Pierce®, McNeilus®, Medtec®, Jerr-Dan®, BAI®, Oshkosh Specialty Vehicles, Frontline™, SMIT™, Geesink™, Norba™, Kiggen™, CON-E-CO®, London® and IMT®. Oshkosh products are valued worldwide in businesses where high quality, superior performance, rugged reliability and long-term value are paramount. For more information, log on to www.oshkoshcorporation.com.

®, ™ 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. These factors include the consequences of financial leverage associated with the JLG acquisition, especially given turmoil in the credit markets, the level of the Company’s borrowing costs and the Company’s ability to successfully amend its credit agreement to provide financial covenant relief; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during a global recession and credit crisis; the Company’s ability to obtain cost reductions on steel and other raw materials following sharp cost increases in 2008, obtain other cost decreases or achieve product selling price increases; the duration of the global recession and its adverse impact on the Company’s share price, which could lead to impairment charges related to many of the Company’s intangible assets; the expected level and timing of U.S. Department of Defense procurement of products and services and funding thereof; risks related to reductions in government expenditures and the uncertainty of government contracts; risks associated with international operations and sales, including foreign currency fluctuations; the Company’s ability to turn around its Geesink business; risks related to the collectability of receivables during a recession, especially access equipment receivables; and the potential for increased costs