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Oshkosh Defense Displays Its JLTV Solution for the U.S. Army at AUSA 2013

Testing proves the Oshkosh JLTV solution is 70 percent faster in off-road environments than today’s industry gold standard

OSHKOSH, Wis. (Oct. 21, 2013) — As the U.S. Army advances the Joint Light Tactical Vehicle (JLTV) program to fill a critical capabilities gap for ground operations, Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), has presented a JLTV solution with unprecedented protected mobility. The Oshkosh JLTV solution, the Light Combat Tactical All-Terrain Vehicle (L-ATV), leverages unmatched depth of experience designing, integrating and sustaining vehicles for missions outside the wire.

Oshkosh is displaying its JLTV solution this week at the Association of the U.S. Army (AUSA) 2013 Annual Meeting and Exposition in Washington, D.C.

“The Oshkosh L-ATV redefines the future of light tactical vehicles – merging key design aspects of highly survivable combat vehicles and off-road tactical vehicles to operate in a wide range of threat levels and terrains,” said John Bryant, senior vice president of Defense Programs for Oshkosh Defense. “In fact, independent testing proves that the Oshkosh L-ATV provides the same ride quality at speeds 70 percent faster than today’s industry gold standard for off-road mobility, the Oshkosh MRAP All-Terrain Vehicle (M-ATV).”

Oshkosh delivered 22 JLTV prototypes to the government in August for the Engineering and Manufacturing Development (EMD) phase. The Oshkosh JLTVs were produced following Oshkosh’s standard development process, whereby initial variants were prototyped and remaining trucks were produced on a warm production line.

Oshkosh’s manufacturing facilities operate on lean principles with a mature, disciplined quality management system tailored for military vehicles and systems integration. The Oshkosh JLTV prototypes are undergoing 14 months of robust military testing, and Oshkosh will provide vehicle training and support throughout the testing.

“From design concept to manufacturing, the Oshkosh JLTV solution was developed with soldiers’ needs in mind,” Bryant said. “Since day one, we’ve managed cost as a key technical parameter to optimize the total life-cycle cost of our JLTV.”

Using the Oshkosh TAK-4i™ intelligent independent suspension system, the Oshkosh JLTV solution delivers unprecedented levels of off-road mobility for a light vehicle. The vehicle achieves a 25 percent improvement in independent wheel travel over the most mobile vehicles currently fielded, allowing for faster speeds and new levels of ride quality in off-road environments. The TAK-4i system expands on the success of the Oshkosh TAK-4 system, which has been used on more than 20,000 military vehicles and given Warfighters greater mobility in rugged landscapes like those found in Afghanistan.

Leveraging its experience with armored vehicle platforms like the Oshkosh M-ATV, Oshkosh designed the L-ATV’s crew protection system to be scalable and accept multiple armor configurations to protect soldiers from continually evolving battlefield threats.

The Oshkosh JLTV solution is on display at the Oshkosh Defense AUSA booth #6943. Oshkosh Defense representatives also are on hand to discuss JLTV and other programs.

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 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.