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OSHKOSH DEFENSE SELECTED TO PRODUCE EITAN ARMORED PERSONNEL CARRIER HULLS FOR THE ISRAELI MINISTRY OF DEFENSE

Oshkosh Defense Eitan Armored Personnel Carrier Hull

OSHKOSH, Wis. (January 6, 2023) — Oshkosh Defense, a wholly-owned subsidiary of Oshkosh Corporation (NYSE: OSK), announced today that the Israeli Ministry of Defense (IMOD) has selected Oshkosh Defense to produce the Armored Personnel Carrier (APC) hulls for the Israeli Defense Forces.

As part of this contract, valued at over $100 million, Oshkosh Defense will build hundreds of Eitan APC main hulls.

“Oshkosh Defense continues to enhance our innovative manufacturing processes to deliver world class vehicles and mobility systems,” said Pat Williams, Chief Program Officer, Oshkosh Defense. “The Eitan APC contract is just another example of our ability to leverage leading edge technology to provide our customers advanced combat vehicle solutions.”

The Eitan APC award expands Oshkosh’s portfolio of two recent adjacent market wins achieved by Oshkosh – the Stryker Medium Caliber Weapons System (MCWS) and Optionally Manned Fighting Vehicle (OMFV).

  • MCWS: In June 2021, Oshkosh Defense was awarded a $942.9M contract to integrate a 30mm Medium Caliber Weapon System (MCWS) onto the Stryker Double V Hull Infantry Carrier Vehicle (ICVVA1).  This upgrade will provide precision lethality capability to the Army’s Stryker Brigade Combat Team (SBCT).
  • OMFV: In July 2021, the U.S. Army selected Oshkosh Defense to participate in the Optionally Manned Fighting Vehicle (OMFV) Concept Design Phase 2 contract. In November 2022, Oshkosh submitted its proposal for Phase 3 Detail Design and Phase 4: Prototype Build and Test of the OMFV program. A down select of up to three awards is expected to occur in the second quarter of 2023.

“We are honored to have been selected by the Israeli Ministry of Defense to build the Eitan APC hull,” said John Lazar, Vice President of International, Oshkosh Defense. “We’ve worked with IMOD on a multitude of programs for more than a decade, and we look forward to demonstrating our continued commitment to this partnership.”

Production will begin in 2023 and the first hulls will arrive in Israel within 18 months.

About Oshkosh Defense

Oshkosh Defense is a global leader in the design, production and sustainment of best-in-class military vehicles, technology solutions and mobility systems. Oshkosh develops and applies emerging technologies that advance safety and mission success. Setting the industry standard for sustaining fleet readiness, Oshkosh ensures every solution is supported worldwide throughout its entire life cycle. 

Oshkosh Defense, LLC is an Oshkosh Corporation company [NYSE: OSK]. 

Learn more about Oshkosh Defense at oshkoshdefense.com.  

About Oshkosh Corporation

At Oshkosh (NYSE: OSK), we make innovative, mission-critical equipment to help everyday heroes advance communities around the world. Headquartered in Wisconsin, Oshkosh Corporation employs approximately 15,000 team members worldwide, all united behind a common cause: to make a difference in people’s lives. Oshkosh products can be found in more than 150 countries under the brands of JLG®, Pierce®, Oshkosh® Defense, McNeilus®, IMT®, Jerr-Dan®, Frontline™, Oshkosh® Airport Products, London™, Pratt Miller and Maxi-Metal. For more information, visit oshkoshcorp.com.

Forward Looking Statements

This news 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 news 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 extent of supply chain and logistics disruptions; the Company’s ability to increase prices or impose surcharges to raise margins or to offset higher input costs, including increased raw material, labor and freight costs; the Company’s ability to attract and retain production labor in a timely manner; 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 and construction seasons; the Company’s estimates of access equipment demand which, among other factors, is influenced by historical customer buying patterns and rental company fleet replacement strategies; the strength of the U.S. dollar and its impact on Company exports, translation of foreign sales and the cost of purchased materials; the Company’s ability to predict the level and timing of orders for indefinite delivery/indefinite quantity contracts with the U.S. federal government; the impact of any U.S. Department of Defense solicitation for competition for future contracts to produce military vehicles; the impacts of budget constraints facing the U.S. Postal Service and continuously changing demands for postal services; the impact of severe weather, war, natural disasters or pandemics that may affect the Company, its suppliers or its customers; 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 associated with international operations and sales, including compliance with the Foreign Corrupt Practices Act; risks that a trade war and related tariffs could reduce the competitiveness of the Company’s products; the Company’s ability to comply with complex laws and regulations applicable to U.S. government contractors; cybersecurity risks and costs of defending against, mitigating and responding to data security threats and breaches impacting the Company; the Company’s ability to successfully identify, complete and integrate acquisitions and to realize the anticipated benefits associated with the same; 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 news release. The Company assumes no obligation, and disclaims any obligation, to update information contained in this news 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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