NEWS

U.S. Army Contracts Oshkosh Defense to Reset M-ATVs to Achieve Capability and Readiness Requirements

Oshkosh applies OEM efficiency to standardize the M-ATV fleet configuration

OSHKOSH, Wis. (Feb. 5, 2015) — The U.S. Army has awarded Oshkosh Defense, LLC, an Oshkosh Corporation (NYSE: OSK) company, a base contract plus options to reset 800 Oshkosh-produced Mine Resistant Ambush Protected (MRAP) All-Terrain Vehicles (M-ATVs). This M-ATV Reset program will help the U.S. Army achieve its goal of standardizing the M-ATV fleet configuration and ensuring that its primary MRAP platform is 100% mission ready following years of operation in theater.

The M-ATV Reset base contract for 500 vehicles was awarded to Oshkosh on August 6, 2014. On December 12, 2014, Oshkosh was awarded three additional contract options for 100 vehicles each. In total, Oshkosh is on contract to reset 800 M-ATVs for a total contract value of more than $77 million.  Deliveries are currently underway and will continue through September 2015.

“As the OEM, Oshkosh has the expertise and operational capability to help the U.S. Army achieve its M-ATV fleet goals in the most efficient, cost effective manner,” said John Bryant, senior vice president of defense programs at Oshkosh Defense. “The same supply chain and workforce that originally produced more than 8,700 M-ATVs on an urgent need basis were able to step right in and immediately deliver production-line-quality for this rather complex reset program. We appreciate this opportunity to continue supporting the M-ATV as the MRAP platform of choice for future ground missions.”

The M-ATV Reset process performed at Oshkosh begins with a comprehensive inspection of the vehicle condition and configuration.  Following the vehicle evaluation, Oshkosh systematically completes repairs, replaces missing parts, and installs a spectrum of upgrade kits necessary to bring the vehicle to the current configuration for each of the M-ATV variants in the enduring fleet. These upgrade kits include the underbody improvement kit (UIK), upgraded automatic fire extinguishing systems (AFES), and several safety-related improvements, among others.

“At the end of the day, the M-ATV Reset program will ensure that all of the Soldiers operating in M-ATVs will have fully-capable, mission-ready vehicles with all of the latest protection and technologies,” said Bryant.

Oshkosh was awarded the original M-ATV production contract in June 2009 and remains on contract to provide lifecycle service and support through July 2018.

In addition to M-ATV, Oshkosh has extensive experience providing lifecycle support for its U.S. Army, Marine Corps and National Guard heavy and medium tactical wheeled vehicle fleets.  At Oshkosh, these programs span the spectrum of support, from field maintenance and contractor logistics support to technology upgrades and full recapitalization programs. As the OEM, Oshkosh’s integrated product support offering helps maximize the capability, reliability and readiness of the U.S. Armed Forces tactical wheeled vehicle fleets – anywhere in the world.

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 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, visit 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 cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, which are particularly impacted by the strength of U.S. and European economies; the strength of emerging market growth and projected adoption rates of work at height machinery; the expected level and timing of DoD and international defense customer 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 lower customer orders in the defense segment; the Company’s ability to win a U.S. Joint Light Tactical Vehicle production contract award and international defense contract awards; 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 expansion, consolidation and alignment, including the amounts of related costs and charges and that anticipated cost savings may not be achieved; global economic uncertainty, 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; the impact of severe weather or natural disasters that may affect the Company, its suppliers or its customers; cyber security risks and costs of defending against, mitigating and responding to a data security breach; 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.

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NEWS CONTACTS

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

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