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U.S. Military, Oshkosh Defense Commemorate First JLTV EMD Delivery

Oshkosh JLTV prototypes delivering new levels of mobility, survivability and life-cycle value will now undergo government testing

OSHKOSH, Wis. (Aug. 7, 2013) — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), today marked the delivery of its first Joint Light Tactical Vehicle (JLTV) prototype for government testing following a successful vehicle inspection by the Defense Contract Management Agency (DCMA) at an event in Oshkosh, Wis. The DCMA inspection and vehicle presentation ceremony was attended by representatives from the JLTV Joint Program Office, DCMA and Oshkosh Defense.

The Oshkosh JLTV solution was developed to deliver unprecedented levels of mobility, survivability, transportability and life-cycle value for the JLTV program, which will replace a portion of the U.S. military’s aged High-Mobility Multipurpose Wheeled Vehicle (HMMWV) fleet. Oshkosh Defense is delivering a total of 22 JLTV prototypes this month for the government-testing portion of the EMD phase.

“The JLTV will fill a vital capabilities gap in the military’s light vehicle fleet and protect our men and women in uniform for decades to come,” said John Urias, Oshkosh Corporation executive vice president and president of Oshkosh Defense. “The Oshkosh JLTV solution we are now submitting for government testing transforms the concept of what a light vehicle can be – merging key design aspects of high-performance tactical vehicles and highly survivable combat vehicles. The result is a new level of protected mobility in a light platform.”

Oshkosh Defense produced its JLTV prototypes on an active manufacturing line, alongside its current-production tactical wheeled vehicles (TWV). Prototypes being delivered include a four-door multi-purpose variant and two-door utility variant. Oshkosh Defense will provide training and support for the vehicles as they are accepted and evaluated by the U.S. Government.

Designed for the Decades to Come

Off-road mobility is crucial for the JLTV. When missions or threats require troops to drive off-road or find alternate routes, they need a JLTV that can reliably transport them through almost any environment. The Oshkosh JLTV solution, the Light Combat Tactical All-Terrain Vehicle (L-ATV), builds on Oshkosh’s portfolio of high-performance, off-road TWVs that have been proven in combat, such as the MRAP All-Terrain Vehicle (M-ATV). Oshkosh Defense has tested the L-ATV on 85 percent of the world’s representative terrain to ensure the vehicle can support missions on any topography and every continent.

Using the Oshkosh TAK-4i intelligent independent suspension system, the L-ATV delivers a 25 percent improvement in independent wheel travel over the most mobile vehicles currently fielded. This TAK-4i system also enables the L-ATV to provide greater control and maneuverability on unimproved terrain, increasing safety and survivability. A digitally controlled Duramax engine provides an optimal power-to-weight ratio and torque, allowing the L-ATV to overcome challenges from steep inclines to deep desert sands.

The Oshkosh JLTV was designed to keep pace with evolving battlefield threats. Oshkosh Defense leveraged deep experience from the last decade of producing MRAP vehicles and other armored platforms when designing the L-ATV. The Company conducted extensive threat-event analysis and used state-of-the-art components to develop a fully integrated, multi-faceted crew protection system for the L-ATV. This protection system is scalable and can accept multiple armor configurations, providing protection levels equivalent to those of MRAP vehicles that are currently saving lives in Afghanistan. In addition to crew protection, Oshkosh’s L-ATV is designed for mission package flexibility and future growth to meet new operational requirements.

Oshkosh Defense is using its extensive Integrated Product Support expertise to minimize costs across the JLTV’s life-cycle. At the design and production stages, lean processes and flexible manufacturing lines focus on keeping costs low. Oshkosh Defense also performed a myriad of logistics engineering to optimize the sustainment costs and readiness of its JLTV offering for decades of operation.

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 comply with laws and regulations applicable to U.S. government contractors; 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; 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.