This document provides an investor handout from Oshkosh Corporation for August 2016. It includes the following key points: - Oshkosh Corporation expects solid earnings and free cash flow in fiscal year 2016, allowing it to continue returning capital to shareholders through dividends and share repurchases. - The defense, fire and emergency, and commercial segments are expected to drive growth, while access equipment faces near-term challenges from cautious customer demand. - For fiscal year 2016, Oshkosh Corporation increases its earnings per share guidance to a range of $2.60 to $2.80, up from its previous outlook.

1. MOVING THE WORLD AT WORK
Oshkosh Corporation
(NYSE:OSK)
Investor Handout
August 2016

2. MOVING THE WORLD AT WORK
Forward-Looking Statements
2August 2016Investor Handout
This presentation 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 and construction seasons; the Company’s estimates of access equipment demand which, among other
factors, is influenced by customer historical 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 purchased materials; the expected level and timing of U.S.
Department of Defense (“DoD”) and international defense customer procurement of products and services and funding or payments
thereof; the Company’s ability to utilize material and components which it has committed to purchase from suppliers; higher material
costs resulting from production variability due to uncertainty of timing of payment from international defense customers; risks related
to reductions in government expenditures in light of U.S. defense budget pressures, sequestration and an uncertain DoD tactical
wheeled vehicle strategy; the impact of any DoD solicitation for competition for future contracts to produce military vehicles, including
a future FMTV production contract; 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;
projected adoption rates of work at height machinery in emerging markets; the impact of severe weather or natural disasters 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
related to production or shipment delays arising from quality or production issues; risks associated with international operations and
sales, including compliance with the Foreign Corrupt Practices Act; 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 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, including the Form 8-K filed July 28, 2016. All forward-looking statements speak only as of
July 28, 2016. The Company assumes no obligation, and disclaims any obligation, to update information contained in this
presentation. Investors should be aware that the Company may not update such information until the Company’s next quarterly
earnings conference call, if at all.

3. MOVING THE WORLD AT WORK
Why Oshkosh Corporation?
3August 2016Investor Handout
Defense , F&E and RCV
+ Solid market outlook
+ Strong backlogs
+ JLTV ramp & Int’l M-ATVs
+ Fire & Emergency and RCV share gains
+ Improving OI margins
Access Equipment / Concrete Mixers
+ Benefitting from construction growth
- Cautious approach by customers
- Soft replacement-driven access equipment
demand
OSK:
A Different
Integrated
Global
Industrial
Expected FCF Provides Options
+ Solid earnings
+ Working capital reduction

4. MOVING THE WORLD AT WORK
Oshkosh Corporation –
A Different Integrated Global Industrial
 Technology leader supplying
industry's top specialty vehicles
& access equipment
 Serial innovator of game
changing new products
 Focused on delivering value to
customers and shareholders
 Leverage cross segment
expertise and resources
4
* - As of August 15, 2016
Access Equipment Defense
Fire & Emergency
August 2016Investor Handout
Fire & Emergency Commercial
Incorporated 1917
- Nearly 100 Years
in Business
Market Cap* - $3.9 billion
OSK – NYSE ticker

5. MOVING THE WORLD AT WORK
MOVE Strategy Evolves to Drive Performance…
 Focuses on drivers that
create highest
shareholder value
 Supports higher margin
targets through the cycle
5August 2016Investor Handout
…In FY16 and Beyond

6. MOVING THE WORLD AT WORK
Q3 FY16
 Q3 FY16 EPS of $1.13
− Equal to Q3 FY15
 Higher defense and fire &
emergency segment sales
 Higher operating income margin
vs. prior year in defense, fire &
emergency and commercial
segments
 Progress on funding and
delivery schedules for the large
international M-ATV order
 Increased full year EPS outlook
to range of $2.60 to $2.80
Net Sales
(billions) EPS
6
$1.7
$1.6
$1.13 $1.13
$0.00
$0.25
$0.50
$0.75
$1.00
$1.25
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
$1.8
$2.0
FY16 FY15
Net Sales EPS
OSK Fiscal Q3 Performance
August 2016Investor Handout

7. MOVING THE WORLD AT WORK
Defense
Returning to Growth on a Strong Foundation
August 2016Investor Handout 7
 Improved defense segment outlook
− FY16 contract awards
− FY17 budget request
 JLTV ramp up gaining momentum
− Production ramp up (FY17-19) quicker
than previous expectations
 New segment president –John Bryant
− Ret. USMC colonel - 28 years experience
− Led Oshkosh U.S. TWV programs
 Continue to be active internationally
− Working to deliver contract for M-ATVs
(~175 deliveries in FY16 and ~1,000 in FY17)
− Pursuing multiple other opportunities

8. MOVING THE WORLD AT WORK
Access Equipment
Positive Long-Term Outlook Despite Near Term Challenges
August 2016Investor Handout 8
 Mixed global market conditions
continue
– North America market remains
cautious
 Lower replacement demand
 Rental companies selective with capital
expenditures
– Solid activity in Europe
– Brazil extremely depressed
– Asia-Pacific growth and ongoing
impact of mining slowdown in Australia
 Challenging pricing environment
 Believe long-term trends are positive
− Construction growth
− Global product adoption
− New applications for access
equipment

9. MOVING THE WORLD AT WORK
Fire & Emergency
Improving Execution Driving Market Leadership to New Heights
August 2016Investor Handout 9
 Continued modest market recovery
 Pierce gaining share in North America
 Improved municipal spending
 Large city fleet replacement
 Revolutionary Ascendant™ two-axle
aerial ladder truck continues to gain
momentum
– Three new variants launched at FDIC
− Contributing to share gains
 Raising production rate in FY16
 Leveraging improved operational
performance
 Increased production rate in Q2
 Additional increase in Q4

10. MOVING THE WORLD AT WORK
Commercial
Strong RCV Fleet Replenishment and New Product Launches
August 2016Investor Handout 10
 Continued solid RCV business
− Replacement demand
− Solid construction activity and improved
municipal tax receipts
− Share gains
 New lighter weight Meridian front end
loader RCV driving excitement
 Seasonal concrete mixer demand
increase
− Solid front discharge demand
− Cautious rear discharge customers
 Believe long-term concrete mixer
dynamics are favorable
− Increased construction activity
− Recently passed highway bill
(FAST Act)
− Fleets continue to age

11. MOVING THE WORLD AT WORK
Responsible Capital Allocation
Strong Free Cash Flow Provides Options
11August 2016Investor Handout
 Reinvesting in core
business remains preferred
option
 Return of capital balanced
with continued investments
– Provides options for the
business
– Over $1.0 billion returned to
shareholders over the past
four years
– Dividend increased annually
since reinstatement in
November 2013 201.8
403.3
200.4
100.1
50.7
53.1
41.9
$0
$100
$200
$300
$400
$500
FY13 FY14 FY15 FY16YTD*
Share Repurchases Dividends
($millions)
Cash Returned to Shareholders
* Data current as of June 30, 2016
Capital Allocation Priorities

12. MOVING THE WORLD AT WORK
Updated Expectations for FY16
Additional expectations
 Corporate expenses of $150 - $155 million
 Tax rate of ~ 32%
 CapEx of ~ $100 million
 Free Cash Flow* ~ $400 million
 Assumes share count of ~ 74.5 million
Segment information
 Revenues of ~ $6.0 to $6.1 billion
 Operating income of $340 million to $360 million
 EPS of $2.60 to $2.80
* Non-GAAP results. See Appendix for reconciliation to GAAP results.
12
 Increased full year EPS estimate range
 Added ~ 175 international M-ATVs in Q4
 Improved F&E performance
 Reduced access equipment operating margin
expectations
 Increased incentive compensation expense
 Higher tax rate
Measure Access
Equipment Defense Fire &
Emergency Commercial
Sales
(billions)
$2.9 to $2.95 ~$1.25 ~ $0.95 ~ $1.0
Operating
Income Margin
9.5% - 9.75% ~ 7.75% ~ 6.75% ~ 7.0%
August 2016Investor Handout

13. MOVING THE WORLD AT WORK
Going Forward with Oshkosh - Expectations
 MOVE strategy evolves
– Market leadership with a focus
on delighting customers
– Margin improvement
– Technology drives game-changing
new products
– Compete vigorously for business
around the world
 Defense to drive growth
– JLTV award is historic, provides strong
foundation and visibility into future
– Demand for international M-ATVs
– Strong legacy programs
 Manage costs during period of softer
demand for Access Equipment
 Continued improvement in Fire &
Emergency and Commercial segments
13August 2016Investor Handout

14. MOVING THE WORLD AT WORK
For information
contact:
Patrick N. Davidson
Vice President, Investor Relations
(920) 966-5939
pdavidson@oshkoshcorp.com
14
Jeffrey D. Watt
Director, Investor Relations
(920) 233-9406
jwatt@oshkoshcorp.com
August 2016Investor Handout 14

15. MOVING THE WORLD AT WORK
Appendix: Consolidated Q3 Results
 Sales impacted by:
 Higher defense, fire &
emergency and access
equipment segment sales
 EPS impacted by:
 Higher defense, fire &
emergency and commercial
segment results
 Lower share count
 Lower access equipment
segment results
 Higher tax rate
 Higher incentive compensation
Q3 Comments
(Dollars in millions, except per share amounts)
Third Quarter
Net Sales $1,747.5 $1,612.3
% Change 8.4% (16.6)%
Operating Income $146.8 $136.6
% Change 7.5% (22.1)%
% Margin 8.4% 8.5%
EPS $1.13 $1.13
% Change 0.0% (7.4)%
2016 2015
August 2016Investor Handout 15

16. MOVING THE WORLD AT WORK
Net Sales $952.5 $932.6
% Change 2.1% (10.3)%
Operating Income $122.1 $136.4
% Change (10.4)% (18.2)%
% Margin 12.8% 14.6%
Third Quarter
(Dollars in millions)
2016 2015
Appendix: Access Equipment
 Sales impacted by:
 Higher volume in North America,
primarily telehandlers
− Competitive pricing
 Operating income impacted by:
− Competitive pricing
− Prior year reversal of accrued
incentive compensation expense
 Lower spending on engine
emissions standards changes
 Higher sales volume
 Backlog down 5% vs. prior year
to $375 million
Q3 Comments
August 2016Investor Handout 16

17. MOVING THE WORLD AT WORK
Appendix: Defense
 Sales impacted by:
 Higher FHTV volume
 Operating income impacted by:
 Favorable product mix
 Contractual price increases
 Higher sales volume
 Backlog up 88% vs. prior year
to $2.3 billion
Q3 Comments
Net Sales $264.3 $194.2
% Change 36.1% (58.7)%
Operating
Income / (Loss) $19.1 $(7.1)
% Change 369.3% (137.0)%
% Margin 7.2% (3.7)%
Third Quarter
(Dollars in millions)
2016 2015
August 2016Investor Handout 17

18. MOVING THE WORLD AT WORK
Net Sales $248.5 $199.8
% Change 24.4% 6.6%
Operating Income $19.7 $9.6
% Change 105.0% 55.5%
% Margin 7.9% 4.8%
Third Quarter
(Dollars in millions)
2016 2015
Appendix: Fire & Emergency
 Sales impacted by:
 Higher Pierce fire truck volume
 Operating income impacted by:
 Higher sales volume
 Improved pricing
 Backlog up 12% vs. prior year
to $853 million
Q3 Comments
August 2016Investor Handout 18

19. MOVING THE WORLD AT WORK
Appendix: Commercial
 Sales impacted by:
− Lower international RCV volume
 Operating income impacted by:
 Improved product mix
 Backlog down 5% vs. prior year
to $206 million
Q3 Comments
Net Sales $287.9 $294.0
% Change (2.1)% 18.9%
Operating Income $23.8 $22.4
% Change 6.2% 12.9%
% Margin 8.3% 7.6%
Third Quarter
(Dollars in millions)
2016 2015
August 2016Investor Handout 19

20. MOVING THE WORLD AT WORK
Appendix: Commonly Used Acronyms
20August 2016Investor Handout
ARFF Aircraft Rescue and Firefighting M-ATV MRAP All-Terrain Vehicle
AWP Aerial Work Platform MRAP Mine Resistant Ambush Protected
AMPS Aftermarket parts & service MSVS Medium Support Vehicle System (Canada)
CapEx Capital Expenditures NOL Net Operating Loss
CNG Compressed Natural Gas NPD New Product Development
DGE Diesel Gallon Equivalent NRC National Rental Company
DoD Department of Defense OCO Overseas Contingency Operations
EAME Europe, Africa & Middle East OH Overhead
EMD Engineering & Manufacturing Development OI Operating Income
EPS Diluted Earnings Per Share OOS Oshkosh Operating System
FAST Act Fixing America’s Surface Transportation Act OPEB Other Post-Employment Benefits
FHTV Family of Heavy Tactical Vehicles PLS Palletized Load System
FMS Foreign Military Sales PUC Pierce Ultimate Configuration
FMTV Family of Medium Tactical Vehicles R&D Research & Development
GAAP U.S. Generally Accepted Accounting Principles RCV Refuse Collection Vehicle
GAO Government Accountability Office RFP Request for Proposal
HEMTT Heavy Expanded Mobility Tactical Truck ROW Rest of World
HET Heavy Equipment Transporter SMP Standard Military Pattern (Canadian MSVS)
HMMWV High Mobility Multi-Purpose Wheeled Vehicle TACOM Tank-automotive and Armaments Command
IRC Independent Rental Company TDP Technical Data Package
IT Information Technology TPV Tactical Protector Vehicle
JLTV Joint Light Tactical Vehicle TWV Tactical Wheeled Vehicle
JPO Joint Program Office UCA Undefinitized Contract Action
JROC Joint Requirements Oversight Council UIK Underbody Improvement Kit (for M-ATV)
JUONS Joint Urgent Operational Needs Statement UK United Kingdom
L-ATV Light Combat Tactical All-Terrain Vehicle ZR Zero Radius
LVSR Logistic Vehicle System Replacement

21. MOVING THE WORLD AT WORK
August 2016Investor Handout 21
Appendix:
Non-GAAP to GAAP Reconciliation
• The table below presents a reconciliation of the Company’s presented non-GAAP measures to the most directly
comparable GAAP measures (in millions):
Fiscal 2016
Expectations
Net cash flows provided by operating activities $ 500.0
Additions to property, plant and equipment (100.0)
Free cash flow $ 400.0