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Oshkosh Defense Demonstrates TerraMax UGV Capabilities for Marine Corps Leadership — Press Release

Unmanned ground vehicle technology to be demonstrated at AUSA 2012

OSHKOSH, Wis. (Oct. 19, 2012) — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), recently demonstrated its TerraMax™ unmanned ground vehicle (UGV) technology for Brig. Gen. Mark Wise, commanding general of the Marine Corps Warfighting Laboratory (MCWL), and others at an event in Pennsylvania. Representatives from MCWL, the Office of the Secretary of Defense, the Department of Transportation, the Robotic Systems Joint Project Office and other agencies were also in attendance.

Equipped on two Oshkosh Medium Tactical Vehicle Replacements (MTVR), the TerraMax UGVs conducted representative convoy operations, demonstrating obstacle avoidance and attaining speeds of 35 miles per hour. The event followed MCWL’s successful Enhanced MAGTF Operations (EMO) Limited Objective Experiment (LOE) 2.2, in which the TerraMax system and other technologies under development for future missions were evaluated with a focus on defining tactics, techniques and procedures (TTPs) to successfully employ unmanned ground systems and logistic demand reduction technologies.

“This demonstration offered government leaders and representatives an opportunity to experience firsthand the advanced level of sophistication and capabilities of our TerraMax UGV technology,” said John Beck, chief unmanned systems engineer for Oshkosh Corporation. “Two unmanned MTVRs – supervised by a single operator – executed multiple 30-minute missions on a rugged off-road course in very dusty conditions.”

The Oshkosh TerraMax UGV technology is designed as a scalable kit that can be tightly integrated on current production vehicles, including those built by other manufacturers, or retrofitted on legacy vehicles. Vehicles equipped with the TerraMax UGV technology are able to complete planned missions in full autonomous mode or by “shadowing” a leader vehicle. They can also maintain prescribed convoy following distance, function in all weather conditions and operating environments, retain their original payload and performance capabilities, and require minimal human interaction or operator training.

Through the Joint Ground Robotics Enterprise Robotics Technology Consortium, Oshkosh Defense and the National Robotics Engineering Center worked closely with MCWL and the Naval Surface Warfare Center Dahlgren Division to develop and integrate the TerraMax UGV technology for the Cargo UGV project.

Oshkosh is also transitioning technologies that enable the TerraMax UGV system to active-safety features applicable to manned operation of the military’s tactical wheeled vehicle fleets. Leveraging the mature components of the TerraMax UGV technology, Oshkosh is offering advanced automotive features such as electronic stability control, forward collision warning, adaptive cruise control, emergency braking assist, and electric power assist steering that can be fielded today to improve fuel economy and operator safety during missions.

Oshkosh will be demonstrating the TerraMax UGV technology at AUSA 2012 at booth #1713, and company executives will be on hand to discuss it.

About Oshkosh Defense

Oshkosh Defense, a division of Oshkosh Corporation, is an industry-leading global designer and manufacturer of tactical military trucks and armored wheeled vehicles, delivering a full product line of conventional and hybrid vehicles, advanced armor options, proprietary suspensions and vehicles with payloads that can exceed 70 tons. Oshkosh Defense provides a global service and supply network including full life-cycle support and remanufacturing, and its vehicles are recognized the world over for superior performance, reliability and protection. For more information, visit 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, visit 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 future global economic outlook; the expected level and timing of the U.S. Department of Defense (DoD) procurement of products and services and funding thereof; risks related to reductions in government expenditures in light of U.S. defense budget pressures and an uncertain DoD tactical wheeled vehicle strategy; risks that profit on the definitization of contracts with the DoD could differ from the Company’s estimates; increasing commodity and other raw material costs, particularly in a sustained economic recovery; the ability to increase prices to raise margins or offset higher input costs; risks related to the Company’s exit from its ambulance and European mobile medical businesses, including the amounts of related costs and charges; 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 Company’s ability to produce vehicles under the FMTV contract at targeted margins; 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; the potential for the U.S. government to competitively bid the Company’s Army and Marine Corps contracts; the consequences of financial leverage, which could limit the Company’s ability to pursue various opportunities; 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; risks related to actions of activist shareholders; and 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. 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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