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1. MOVING THE WORLD AT WORK
Oshkosh Corporation
Fourth Quarter Fiscal 2014
October 31, 2014
Charles L. Szews
Chief Executive Officer
Wilson R. Jones
President and Chief Operating Officer
David M. Sagehorn
Executive Vice President
and Chief Financial Officer
Patrick N. Davidson
Vice President, Investor Relations

2. Forward-Looking Statements
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 presentation, 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; the strength of emerging market growth and projected adoption rates of work at height machinery; the
expected level and timing of DoD and international defense customer 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 lower customer orders in the defense segment; the Company’s ability to win a U.S. JLTV production contract award and
international defense contract awards; 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; 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; 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; the Company’s ability to comply with complex laws and regulations applicable to U.S.
government contractors; the impact of severe weather or natural disasters that may affect the Company, its suppliers or its
customers; cyber security 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 today. All forward-looking statements speak only as of the date of this presentation. 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.
MOVING THE WORLD AT WORK
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 2

3. On the MOVE!
 FY14 adjusted EPS** of $3.62, above high end of
Company’s initial guidance
 FY15 adjusted EPS** estimate range of $4.00 - $4.25 within Company’s
2012 Analyst Day EPS target range for FY15
 Non-Defense markets continue to recover,
generally slower than 2012 Analyst Day expectations
 Oshkosh O, V, & E initiatives expected to meet or exceed
Analyst Day targets for FY15
 Leveraging balance
sheet strength
 Defense segment offers
biggest upside opportunities
MOVING THE WORLD AT WORK
$4.50
$4.00
$3.50
$3.00
$2.50
$2.00
$1.50
$1.00
$0.50
$0.00
Adjusted EPS**
FY12* FY13* FY14 FY15F
* Continuing operations only.
** Non-GAAP results. See Appendix for reconciliation to GAAP results.
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 3

4. Solid Q4 Performance to Close Out FY14
 Adjusted results above both prior
year and high end of most recent
expectations
– Led by continued strong access
equipment segment performance
 Repurchased 5.2 million shares
for $250 million
 Raising quarterly cash dividend
to $0.17 per share
 Announcing FY15 adjusted EPS**
estimate range of $4.00 to $4.25
MOVING THE WORLD AT WORK
Net Sales
(billions)
Adjusted EPS**
OSK Fiscal Q4 Performance
$1.7 $1.7
$0.96
$0.49
$1.25
$1.00
$0.75
$0.50
$0.25
$0.00
$2.0
$1.8
$1.6
$1.4
$1.2
$1.0
$0.8
$0.6
$0.4
$0.2
$0.0
FY14 FY13*
Net Sales Adjusted EPS**
* Continuing operations only
** Non-GAAP results. See Appendix for reconciliation to GAAP results.
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 4

5. MOVE Impact Evident in Strong Full
Year Results
 Operating income margins
increased in all non-Defense
segments
– Led by access equipment
segment
 Strong new product launches;
more to come
 Advantageous capital allocation
– Repurchased 8.3 million shares
for $403 million
– Reinstated quarterly dividend
 OOS activities have driven
improvement
 Work remaining at Pierce to
improve operating income
margins
MOVING THE WORLD AT WORK
Net Sales
(billions)
Adjusted EPS**
OSK Full Year Performance
$6.8
$7.7
$3.62 $3.74
$10.0
$8.0
$6.0
$4.0
$2.0
* Continuing operations only
** Non-GAAP results. See Appendix for reconciliation to GAAP results.
$5.00
$4.00
$3.00
$2.00
$1.00
$0.00
$0.0
FY14 FY13*
Net Sales Adjusted EPS**
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 5

6. On Track to Achieve in FY15…
Initiative
…Bottom Line Results for Shareholders
MOVING THE WORLD AT WORK
FY15 Targets
(1) Compared with FY12 expectations as of September 2012 Analyst Day.
(2) Net of investment costs and compared with consolidated FY11 operating income margins.
FY15
Estimate
6
* Non-GAAP results. See Appendix for reconciliation to GAAP results.
OSK Fourth Quarter 2014 Earnings Call October 31, 2014

7. Defense
MOVING THE WORLD AT WORK
 Successfully concluded JLTV EMD
testing
– Expect formal Production RFP to be
released in November
 Continue to pursue international
programs
– Additional M-ATV sales and
Canadian MSVS
 Re-purposed production facilities
– Announced additional workforce reductions
 Expect operating loss in FY15 Q1 & Q2;
marginally profitable for year
– FHTV production break while new contract
is finalized
– Investing in pursuit of JLTV and
international contract awards
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 7

8. Access Equipment
 MOVE delivered in FY14
– Exciting new products
– Strong incremental margins
– Record revenues, operating income and
operating income margin
 Continued growth expected in FY15
– Moderate growth in North America
– Mixed outlook in other regions
 Recent European economic slowdown muting
impact of aged fleets and growing UK market
 Middle East strong / Latin America softer
 Pacific Rim expected to grow; slow recovery
in Australia
 Increased market competitiveness
MOVING THE WORLD AT WORK
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 8

9. Fire & Emergency
MOVING THE WORLD AT WORK
 Stepped back to better execute
business improvement roadmap
– Expect FY15 Q1 operating loss
 International progress continues
 Strong orders for new Enforcer and
Saber chassis
 North American fire truck demand
remains soft
– Slow market growth expected
in FY15
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 9

10. Commercial
 Solid improvement in FY14
– Strong yr/yr concrete mixer sales
– Early stage investments in MOVE
initiatives began to impact
performance
 Expect continued market
recovery in FY15
– Modest U.S. housing market
growth expected to drive mixer
market
– Slow growth in refuse collection
vehicle market
 Success with split-bin and
automated units
MOVING THE WORLD AT WORK
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 10

11. Consolidated Results
MOVING THE WORLD AT WORK
Comments
 Sales impacted by:
‒ Lower defense segment sales
+ Higher access equipment and
commercial segment sales
 EPS impacted by:
+ Significantly higher access
equipment segment operating
income
+ Lower tax rate due to favorable
settlement of tax audits
+ Impact of FY14 share
repurchases
‒ Lower defense segment
operating income
(Dollars in millions, except per share amounts)
Fourth Quarter
2014 2013*
Net Sales $1,667.7 $1,726.5
% Change (3.4)% (15.8)%
Adjusted
Operating Income** $116.9 $78.0
% Change 49.7% (28.4)%
% Margin 7.0% 4.5%
Adjusted EPS** $0.96 $0.49
% Change 95.9% (23.4)%
* Continuing operations only.
** Non-GAAP results. See Appendix for reconciliation to GAAP results.
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 11

12. Expectations for FY15
 Revenues of $6.5 billion to $6.6 billion
 Operating income of $510 million to $540 million
 Adjusted EPS* of $4.00 to $4.25
Segment information
Equipment Defense Fire &
Emergency Commercial
Measure Access
Sales
(billions) $3.7 - $3.8 ~$1.0 ~$0.80 ~$1.0
Operating
Income Margin ~15.0% Slightly above
break even ~4.25% ~6.5%
Additional expectations
 Corporate expenses of $140 - $145 million
 Refinancing of 8.5% Sr. Notes
 Tax rate of ~31%
 CapEx of ~$150 million
 Free cash flow* ~$200 million
 Assumes share count of ~80 million
MOVING THE WORLD AT WORK
Q1 Commentary
 Expect EPS lower by ~2/3 vs. Q1 FY14 EPS
 Large sales decline and higher NPD spending in defense
segment
 Adverse mix and NPD timing in access equipment segment
 Lower sales volume in fire & emergency segment
 Expect significant cash usage driven by
seasonal factors
* Non-GAAP results. See Appendix for reconciliation to GAAP results.
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 12

13. Executing the MOVE
 MOVE has driven results and continues to evolve
 Management completely focused on achieving
adjusted EPS* of $4.00 - $4.25 for FY15
 Within 2012 Analyst Day target range of $4.00 - $4.50
 Positioning Oshkosh to sustain earnings growth in FY16
and beyond
 Planning Analyst Day in early September 2015
MOVING THE WORLD AT WORK
* Non-GAAP results. See Appendix for reconciliation to GAAP results.
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 13

14. MOVING THE WORLD AT WORK
For information
contact:
Patrick N. Davidson
Vice President, Investor Relations
(920) 966-5939
pdavidson@oshkoshcorp.com
Jeffrey D. Watt
Director, Investor Relations
(920) 233-9406
jwatt@oshkoshcorp.com
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 14

15. Appendix: Access Equipment
Net Sales $932.7 $780.6
% Change 19.5%* 8.9%
Adjusted
Operating Income $127.4 $90.2**
% Change 41.3% 51.7%
% Margin 13.7% 11.6%
MOVING THE WORLD AT WORK
Fourth Quarter
(Dollars in millions)
2014 2013
Comments
 Sales impacted by:
 Continued recovery of global
market
 Prior year sales of U.S. military
telehandlers
 Operating income impacted by:
 Higher sales volume
 Product and process cost
reductions
 Higher NPD and operating costs
 Backlog up 4.5% vs. prior year
to $384 million
* Growth of 22.4% excluding military telehandlers.
** Non-GAAP results. See Appendix for reconciliation to GAAP results.
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 15

16. Appendix: Defense
(Dollars in millions)
MOVING THE WORLD AT WORK
Comments
 Sales impacted by:
 Lower sales to U.S. DoD
 Prior year international M-ATV
sales
 Prior year JLTV test unit sales
 Operating income impacted by:
 Lower sales volume
 Favorable warranty experience
 Lower engineering and operating
costs
 Backlog down 57.6%
vs. prior year to
$780 million
Fourth Quarter
2014 2013
Net Sales $288.1 $513.8
% Change (43.9)% (46.1)%
Adjusted
Operating Income* $1.8 $15.0
% Change (88.1)% (76.1)%
% Margin 0.6% 2.9%
* Non-GAAP results. See Appendix for reconciliation to GAAP results.
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 16

17. Appendix: Fire & Emergency
Net Sales $214.9 $232.0
% Change (7.4)% 6.6%
Operating Income $12.5 $9.2
% Change 35.3% (23.7)%
% Margin 5.8% 4.0%
MOVING THE WORLD AT WORK
Fourth Quarter
(Dollars in millions)
2014 2013
Comments
 Sales impacted by:
 Production delays
 Prior year large international
deliveries
 Operating income impacted by:
 Favorable product mix
 Lower operating expenses
 Lower sales volume
 Backlog up 15.2% vs. prior year
to $567 million
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 17

18. Appendix: Commercial
(Dollars in millions)
MOVING THE WORLD AT WORK
Comments
 Sales impacted by:
 Higher concrete mixer volume
 Operating income impacted by:
 Higher sales volume
 Backlog up 13.7% vs. prior
year to $160 million
Fourth Quarter
2014 2013
Net Sales $243.7 $209.4
% Change 16.4% 15.4%
Operating Income $18.4 $15.7
% Change 17.3% 70.9%
% Margin 7.6% 7.5%
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 18

19. Appendix: Commonly Used Acronyms
ARFF Aircraft Rescue and Firefighting MECV Modernized Expanded Capability Vehicle
AWP Aerial Work Platform MRAP Mine Resistant Ambush Protected
CapEx Capital Expenditures MSVS Medium Support Vehicle System (Canada)
CNG Compressed Natural Gas NOL Net Operating Loss
DGE Diesel Gallon Equivalent NPD New Product Development
DoD Department of Defense NRC National Rental Company
EAME Europe, Africa & Middle East OH Overhead
EMD Engineering & Manufacturing Development OI Operating Income
EPS Diluted Earnings Per Share OOS Oshkosh Operating System
FHTV Family of Heavy Tactical Vehicles OPEB Other Post-Employment Benefits
FMS Foreign Military Sales PLS Palletized Load System
FMTV Family of Medium Tactical Vehicles PUC Pierce Ultimate Configuration
GAAP U.S. Generally Accepted Accounting Principles R&D Research & Development
HEMTT Heavy Expanded Mobility Tactical Truck RCV Refuse Collection Vehicle
HET Heavy Equipment Transporter RFP Request for Proposal
HMMWV High Mobility Multi-Purpose Wheeled Vehicle ROW Rest of World
IRC Independent Rental Company SMP Standard Military Pattern (Canadian MSVS)
IT Information Technology TACOM Tank-automotive and Armaments Command
JLTV Joint Light Tactical Vehicle TDP Technical Data Package
JPO Joint Program Office TPV Tactical Protector Vehicle
JROC Joint Requirements Oversight Council TWV Tactical Wheeled Vehicle
JUONS Joint Urgent Operational Needs Statement UCA Undefinitized Contract Action
L-ATV Light Combat Tactical All-Terrain Vehicle UIK Underbody Improvement Kit (for M-ATV)
LVSR Logistic Vehicle System Replacement UK United Kingdom
M-ATV MRAP All-Terrain Vehicle
MOVING THE WORLD AT WORK
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 19

20. Appendix:
Non-GAAP to GAAP Reconciliation
• The tables below present a reconciliation of the Company’s presented non-GAAP measures to the most directly
comparable GAAP measures (in millions):
Access equipment segment sales excluding
Three Months Ended
September 30,
military (non-GAAP) $ 9 32.7 $ 761.9
Military telehandler sales - 18.7
Access equipment segment sales (GAAP) $ 9 32.7 $ 780.6
Adjusted access equipment segment operating income (non-GAAP) $ 1 27.4 $ 90.2
Intangible asset impairment charge - (9.0)
Access equipment segment operating income (GAAP) $ 1 27.4 $ 81.2
Adjusted defense segment operating income (non-GAAP) $ 1.8 $ 15.0
Pension curtailment and settlement loss (3.8) -
Union contract ratification costs - (3.8)
Defense segment operating income (loss) (GAAP) $ (2.0) $ 11.2
Adjusted operating income (non-GAAP) $ 1 16.9 $ 78.0
Pension curtailment and settlement loss (3.8) -
Intangible asset impairment charge - (9.0)
Union contract ratification costs - (3.8)
Operating income (GAAP) $ 1 13.1 $ 65.2
MOVING THE WORLD AT WORK
2014 2013
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 20

21. Appendix:
Non-GAAP to GAAP Reconciliation
• The tables below present a reconciliation of the Company’s presented non-GAAP measures to the most directly
comparable GAAP measures:
Adjusted earnings per share from continuing
Fiscal Year Ended
September 30,
Three Months Ended
September 30,
operations-diluted (non-GAAP) $ 0.96 $ 0.49 $ 3.62 $ 3.74 $ 2.30
Reduction of valuation allowance on net
operating loss carryforward - - 0.14 - -
Debt extinguishment costs, net of tax - - (0.08) - -
Contract pricing adjustment for OPEB costs, net of tax - - (0.08) - -
OPEB curtailment gain, net of tax - - 0.07 - -
Pension curtailment and settlement loss, net of tax (0.03) - (0.06) - (0.02)
Tender offer and proxy contest costs, net of tax - - - (0.12) (0.05)
Intangible asset impairment charge, net of tax - (0.06) - (0.06) -
Union contract ratification costs, net of tax - (0.03) - (0.03) -
Performance share valuation adjustment, net of tax - - - - (0.05)
Discrete tax benefits - - - - 0.49
Earnings per share from continuing
operations-diluted (GAAP) $ 0.93 $ 0.40 $ 3.61 $ 3.53 $ 2.67
MOVING THE WORLD AT WORK
2014 2013 2014 2013 2012
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 21

22. Appendix:
Non-GAAP to GAAP Reconciliation
• The tables below present a reconciliation of the Company’s presented non-GAAP measures to the most directly
comparable GAAP measures (in millions, except per share amounts):
Adjusted earnings per share from continuing
Fiscal 2015 Expectations
operations-diluted (non-GAAP) $ 4.00 $ 4.25
Debt extinguishment costs, net of tax (0.11) (0.11)
Earnings per share from continuing operations-diluted (GAAP) $ 3.89 $ 4.14
Net cash flows provided by operating activities $ 3 68.0
Additions to property, plant and equipment (150.0)
Net additions to equipment held for rental (18.0)
Free cash flow $ 2 00.0
MOVING THE WORLD AT WORK
Low High
Fiscal 2015
Expectations
OSK Fourth Quarter 2014 Earnings Call October 31, 2014 22