NEWS

Oshkosh Defense Answers U.S. Marine Corps’ Light Vehicle Needs

Oshkosh JLTV solution on display at Modern Day Marine

OSHKOSH, Wis. (Sept. 24, 2013) — The U.S. Marine Corps is reshaping its light vehicle fleet to equip Marines with the right mix of protected mobility for future missions. Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), has developed vehicle and upgrade offerings to meet those requirements, including a Joint Light Tactical Vehicle (JLTV) solution that will be showcased at Modern Day Marine in Quantico, Va., Sept. 25-27.

“The last decade of conflict combined with an aging light vehicle fleet has shaped the Marine Corps’ priorities for its future vehicle fleets,” said John Bryant, senior vice president of Defense Programs for Oshkosh Defense. “Chief among those priorities is the JLTV, a transportable vehicle that will allow Marines to operate in rugged, off-road environments, while keeping them safe in high-intensity combat situations.”

The Oshkosh JLTV solution, the Light Combat Tactical All-Terrain Vehicle (L-ATV), delivers unprecedented levels of off-road mobility for a light vehicle. Using the Oshkosh TAK-4i™ intelligent independent suspension system, the vehicle delivers a 25 percent improvement in independent wheel travel over most mobile vehicles currently fielded, giving Marines greater off-road performance across rough terrain. Marines already rely on Oshkosh’s combat-proven vehicles with today’s gold standard in off-road capability, such as the Medium Tactical Vehicle Replacement (MTVR) and MRAP All-Terrain Vehicle (M-ATV).

Oshkosh Defense was down selected for the Engineering, Manufacturing and Development (EMD) phase of the JLTV program in August 2012 and delivered its 22 JLTV prototypes for government evaluations last month ahead of schedule. Oshkosh will provide vehicle training and support for the prototypes as they undergo 14 months of robust military testing.

HMMWV Upgrade Solutions

In addition to the procuring JLTV, the Marine Corps is seeking to upgrade a portion of its aged High-Mobility Multipurpose Wheeled Vehicle (HMMWV) fleet. Up-armoring HMMWVs in recent conflicts has diminished key vehicle capabilities, including off-road performance, ride quality and reliability.

Oshkosh Defense has developed modular and scalable HMMWV upgrade solutions that provide varying levels of capabilities at a range of price points. The upgrades can be provided individually or as more complete solutions for upgrading all critical vehicle systems. Oshkosh’s comprehensive, cost-effective approach addresses requirements for engine and powertrain, suspension, driveline, hubs and brakes, frame and hull, electrical, cooling, and auxiliary automotive improvements to meet the Marine Corps needs.

For example, Oshkosh has tailored its industry-leading TAK-4® independent suspension system to deliver higher levels of mobility, including a 70 percent off-road profile capability, improved ride quality and a 40 percent increase in the vehicle’s maximum speed. The TAK-4 system also gives the HMMWV greater whole-vehicle durability, a restored 2,500-pound payload capacity and a restored ground clearance of 17 inches. Oshkosh also can deliver a modern engine option that’s more powerful than the HMMWV’s stock engine and provides increased fuel efficiency.

Oshkosh Defense leadership will be available to discuss the company’s vehicles, technologies and IPS services at Modern Day Marine at booth #2404.

About Oshkosh Defense

Oshkosh Defense is a leading provider of tactical wheeled vehicles and life cycle sustainment services.  For more than 90 years, 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.

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 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®, Jerr-Dan®, Frontline™, 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.

®, 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. 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. 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.

NEWS CONTACTS

For further information
please contact:
Alexandra Hittle
Sr. Manager, Global Brand Management
Oshkosh Defense
920.966.5978

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