Oshkosh Receives Preliminary M-ATV Contract, Advances to Final Military Testing Phase

Oshkosh Corporation (NYSE:OSK) announced today it was awarded an indefinite delivery/indefinite quantity (IDIQ) contract with the U.S. Army Tank-automotive and Armaments Command (TACOM) for the purchase of three additional production-ready Oshkosh® MRAP All Terrain Vehicles (M-ATV) for further military testing. The contract is the same one from which the government could now award Oshkosh full production of an anticipated 2,080 – 10,000 M-ATVs for production later this year.

The contract was awarded following the completion of successful military testing on two production-ready Oshkosh M-ATVs that were delivered to Aberdeen Proving Grounds on Feb. 23 and met the government’s initial design requirements.

“As confirmed by this announcement, the Oshkosh M-ATV is a very capable vehicle to take our troops wherever the mission requires,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. “The military needs a vehicle that delivers superior crew protection and thrives in rugged off-road terrain, and our vehicle is designed for exactly that.”

The Oshkosh M-ATV takes advantage of the company’s TAK-4® independent suspension system, which is featured on more than 10,000 Medium Tactical Vehicle Replacement (MTVR) chassis for the U.S. Marine Corps. Oshkosh Corporation was also recently awarded a contract to add TAK-4 suspensions to more than 1,500 current MRAP vehicles. The Oshkosh TAK-4 independent suspension is the only off-road, battle-tested independent suspension system currently used by U.S. forces for this vehicle class. In addition to providing superior off-road mobility, TAK-4 provides better ride quality off-road than straight-axle vehicles.

Oshkosh Defense delivers the M-ATV with the survivability, mobility, mission-proven and production-ready solutions required for Afghanistan. The vehicle is based on the combat-proven Oshkosh MTVR chassis, which has been successfully operating for many years in the most difficult off-road missions in Iraq, Afghanistan and around the world. It also features a combat-tested armor system from Plasan North America for superior crew protection.

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 Corporation 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®. The Oshkosh brands 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, including the level of the Company’s borrowing costs, the increased interest rates the Company would face if it experienced a deterioration or downgrade in credit agency ratings and the Company’s ability to maintain compliance with its financial covenants under its credit agreement; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during a global recession and credit crisis; the duration of the global recession and its adverse impact on the Company’s share price, which could lead to additional 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; the potential for commodity costs to rise sharply in a future economic recovery; 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, particularly for those businesses with exposure to construction markets; and the potential for increased costs relating to compliance with changes in laws and regulations. Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release. The Company assumes no obligation, and disclaims any obligation, to update information contained in this press release. Investors should be aware that the Company may not update such information until the Company’s next quarterly earnings conference call, if at all.

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