Meeting Tier 4 Emissions regulations will require significant technological advancements to reduce emissions to near zero levels. Cummins is well positioned to meet these regulations through proven in-cylinder combustion and after-treatment technologies. Cummins' experience integrating emission systems and its application expertise will allow it to partner with OEMs to provide optimized solutions. Meeting emission standards worldwide by 2014 will open growth opportunities for Cummins in both international and industrial markets.

1. Meeting Tier 4 Emissions
Ric Kleine
Vice President
Industrial Business

2. Engine Segment
Where We’ve Been
Who We Are
Historical Performance
Joint Venture Sales
Geographic
Market Application
Consolidated Sales ($B) Unconsolidated ($B)
Stationary
India 7% South Pacific 2%
Power 11% Heavy-duty $8.2 $1.9
R
G
truck 24% R
SE/NE Asia 5%
CA
Mining/Rail $7.5
AG
Govt/O&G
C
%
East Asia 5%
23
$6.7
US/Canada
%
Marine 15% $1.5
25
55%
$1.3
Latin $5.4 $1.2
America &
Mexico
12% $3.6 $0.8
Medium-duty
Construction
Truck & bus 16%
& Ag 18%
EMEA
Light-duty 14%
Automotive
& RV 16%
2007 Sales: $8.2B 2003 2004 2005 2006 2007
2003 2004 2005 2006 2007
Where We’re Headed How We’re Getting There
Future Performance
Joint Venture Sales
Consolidated Sales ($B) Unconsolidated ($B) Emission regulations
$3.7
$13.3
GR Emerging markets
CA R
G
3% CA
1
Strategic OEM partnerships
%
20
$7.5
New engine platforms
$1.5
Steady aftermarket revenue growth
2006 2011 2006 2011
2

3. Engine Segment
Stronger Industrial Engine Sales Mix
By Industrial Application By Geography
$3,000 $3,000
$2,676
$2,676
$2,500 $2,500
$2,063 $2,063
$2,000 $2,000
$1,791 $1,791
$M
$M
$1,380 $1,380
$1,500 $1,500
$1,000 $1,000
$500 $500
$0 $0
2004 2005 2006 2007 2004 2005 2006 2007
CON/AG HHP markets US ROW
3

4. Tougher Global Emission Standards
Off-
highway
2011-14
Europe
2009 China
US /
2010
Canada
2010
Australia
2008
India
Mexico Brazil
2010
2008 2009
4

5. Tier 4 Regulations Approaching
Near Zero Emissions
9.2 Tier 1 / Stage 1 (1996)
NOx g/kW-hr
6.4 Tier 2 / Stage II (2001)
4.0
Tier 3 / Stage IIIA (2005)
2.0
45% lower Tier 4 Interim / Stage IIIB (2011)
0.4
90% lower
Tier 4 Final / Stage IV (2014)
0 0.54
0.02 0.2
PM g/kW-hr
90% lower
174-751 hp Power Category
5

6. A Proven Technology Route
Tier 2
0.20
Engine - out Particulate [g/kW-hr]
Tier 3
In-Cylinder
Cooled EGR, VG Turbo
0..16
Combustion
& Combustion Optimization
Optimization
0.12
0.08
Incremental Particulate
Architecture Filter
0.04
Tier 4 Final Tier 4 Interim
0.00
0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5 5.5 6
Engine - out NOx [g/kW-hr]
174-751 hp Technology Route
6

7. System Integration Advantage
All core technologies for Tier 4 are available
from within Cummins own resources
Better integrated & performance optimized
VG Turbo
Integrated control
HPCR
system from ECM
Direct Flow
Air Intake
Particulate Filter
Crankcase
Filtration
7

8. Integration with OEM Chassis
Equipment factors Operational factors
Many different types Vibration & shock loads
+
Wide variations in duty Dust & dirt
cycles & load factors Angularity
Space restrictions No ram air cooling
8

9. Designed for the Customer
High Uptime
Low Operating Costs
Low Maintenance
Initial Machine Cost
Lowest Cost of Ownership
Packaging / Cooling
Higher Performance
Safe Operation
Clean Engine Sociability
9

10. Thank You for Your Interest in
For Additional Information Contact:
Dean Cantrell, Director – Investor Relations
(812) 377-3121
Dean.A.Cantrell@Cummins.com
www.Cummins.com
10

11. Appendix

12. Cummins Inc.
2007 Revenue by Segment
Macro growth trends Components
Segment 19%
play to Cummins’
strengths Engine
Segment 52%
Disciplined
Distribution
investment for Segment 10%
growth
Demonstrated
technology
leadership
Power Gen
Segment 19%
FYE 2007 Data
Sales: $13.0 billion
EBIT: $1,227 million
EBIT Margin: 9.4%
12

13. Cummins Inc.
2007 Revenue by Marketing Territory
International revenue Africa/Middle East
Canada 5%
is 54% of consolidated 3%
revenue in 2007
Mexico/Latin
Most international America
9%
areas growing at
double digit rate
Demonstrates our United States
Asia/Australia
46%
19%
geographic diversity
Europe/CIS
18%
13

14. Cummins – Historical Performance
Sales EBIT
$13,048
$14,000 $1,400
$1,227
$1,179
$12,000 $1,200
$11,362
$9,918
$10,000 $1,000 $907
$8,438
$ Millons
$ Millons
$8,000 $800
$6,296
$543
$6,000 $600
$4,000 $400
$181
$2,000 $200
$0 $0
2003 2004 2005 2006 2007 2003 2004 2005 2006 2007
14

15. Engine Segment
2007 Revenue by Product
Emission regulations
create opportunities
Midrange
Parts and
Emerging markets (3-9L) 40%
Service 21%
Strategic OEM
partnerships
New engine platforms
Aftermarket revenue
creates stable earnings
High
Horsepower
(19-91L) 17%
FYE 2007 Data
Heavy-Duty
Sales: $8.2 billion (10-15L) 22%
EBIT: $589 million
EBIT Margin: 7.2%
15

16. Engine Segment
2007 Revenue by Market Application
Gaining market share in Stationary
on-highway markets Power 11%
Heavy-duty
Industrial markets truck 24%
Mining/Rail
supported by non- Govt/O&G
residential construction Marine 15%
and commodity markets
Expanding capacity to
meet growing demand
Construction Medium-duty
& Ag 18% Truck & bus 16%
FYE 2007 Data
Light-duty
Sales: $8.2 billion Automotive
EBIT: $589 million & RV 16%
EBIT Margin: 7.2%
16

17. Engines – Historical Performance
Sales Segment EBIT
$9,000 $800
$733
$8,182
$8,000 $7,511 $700
$6,657 $589
$7,000 $582
$600
$6,000 $5,424 $500
$5,000
$M
$M
$400
$328
$4,000 $3,582
$300
$3,000
$200
$2,000
$100 $62
$1,000
$0 $0
2003 2004 2005 2006 2007 2003 2004 2005 2006 2007
17

18. Power Generation Segment
2007 Revenue by Product
Capitalize on industry
Alternators
growth Commercial
20%
58%
Leverage existing
market leadership Rental
2%
Establish leadership in
all major markets
Expand into new and Consumer
adjacent markets 11%
Power
Electronics
4%
FYE 2007 Segment Data Energy
Sales: $3.1 billion Solutions
5%
EBIT: $334 million
EBIT Margin: 10.9%
18

19. Power Generation – Historical Performance
Sales Segment EBIT
$3,500 $400
$3,060
$334
$350
$3,000
$300
$2,416
$2,500
$250 $220
$1,999
$2,000 $1,842 $200
$M
$M
$145
$150
$1,500 $1,329
$100
$60
$1,000
$50
$500
$0
($19)
$0 ($50)
2003 2004 2005 2006 2007 2003 2004 2005 2006 2007
19

20. Components Segment
2007 Revenue by Product
New products launched Specialty
Filtration
Industry leading Air Intake
6%
Systems
technology 9%
Turbocharger
Capacity expansion 29%
Acoustic
Grow with CMI and non- Exhaust
CMI engine volumes 10%
Leverage global
distribution to grow
aftermarket Engine Fuel
Filtration Systems
17% 14%
FYE 2007 Segment Data Catalytic
Sales: $2.9 billion Exhaust
EBIT: $153 million 15%
EBIT Margin: 5.2%
20

21. Components – Historical Performance
Sales Segment EBIT
$180
$3,500
$153
$160
$2,932
$3,000
$140
$2,500 $2,281
$120
$107
$2,000
$2,000 $100
$1,783 $89
$M
$M
$86 $84
$80
$1,500 $1,292
$60
$1,000
$40
$500
$20
$0
$0
2003 2004 2005 2006 2007
2003 2004 2005 2006 2007
21

22. Distribution Segment
2007 Revenue by Product
Continue acquisitions, Service
17%
consolidations and
Engines
integrations 21%
Leverage Cummins
equipment growth
World-class
customer support
Build capabilities – invest
in growing regions Power
Parts,
Generation
Filters, &
FYE 2007 Segment Data 25%
Consumables
Sales: $1.5 billion 37%
EBIT: $187 million
EBIT Margin: 12.1%
22

23. Distribution – Historical Performance
Sales Segment EBIT
$1,800 $200 $187
$180
$1,540
$1,600
$1,385 $160
$1,400 $144
$1,191 $140
$1,200
$120
$973 $107
$1,000
$M
$M
$100
$800 $79
$669 $80
$600
$60 $51
$400 $40
$200 $20
$0 $0
2003 2004 2005 2006 2007 2003 2004 2005 2006 2007
23

24. Joint Venture Sales Unconsolidated
Engines Distribution
$2,500 $4,000
$3,435
$3,500
$1,940
$2,000
$3,000
$2,497
$1,474 $2,500
$1,500
$ Millions
$ Millions
$1,316
$1,232 $1,285
$2,000
$1,715
$529
$1,000
$1,500
$1,204
$1,029
$1,000
$500
$500
$0 $0
2003 2004 2005 2006 2007 2003 2004 2005 2006 2007
In 2003, sales from certain JVs (colored red above) were treated
as unconsolidated; adoption of FIN 46R in 2004 required the
24
company to consolidate the results of certain JVs.

25. Joint Venture Sales Unconsolidated
Power Generation Components
$180 $200
$166
$162 $175
$180
$160
$160
$140 $130
$140
$120 $123
$105
$120 $110
$ Millions
$ Millions
$100
$94
$100
$80 $72
$72
$80
$60
$60
$40 $40
$20 $20
$0 $0
2003 2004 2005 2006 2007 2003 2004 2005 2006 2007
25

26. Non-GAAP
Reconciliations

27. Non-GAAP Reconciliation – EBIT
Years Ended
Millions 2003 2004 2005 2006 2007
EBIT $ 181 $ 543 $ 907 $ 1,179 $ 1,227
Less: Interest Expense $ 90 $ 111 $ 109 $ 96 $ 58
Earnings before income taxes $ 91 $ 432 $ 798 $ 1,083 $ 1,169
and minority interests
We define EBIT as earnings before interest expense, provision for income taxes and minority interests in earnings of
consolidated subsidiaries. We use EBIT to assess and measure the performance of our operating segments and also as a
component in measuring our variable compensation programs. The table above reconciles EBIT, a non-GAAP financial
measure, to our consolidated earnings before income taxes and minority interests, for each of the applicable periods.
We believe EBIT is a useful measure of our operating performance for the periods presented as it illustrates our operating
performance without regard to financing methods, capital structure or income taxes. This measure is not in accordance with,
or an alternative for, accounting principles generally accepted in the United States of America (GAAP) and may not be
consistent with measures used by other companies. It should be considered supplemental data.
27