1. Sustainable Performance in
Global On-Highway Markets
Tina Vujovich, VP – Marketing & Environmental Policy
Credit Suisse’s 5th Annual Truck Builders Conference
March 1, 2007

2. Disclosure Regarding Forward-Looking Statements
& non-GAAP Financial Measures
This presentation contains certain forward-looking information.
Any forward-looking statement involves risk and uncertainty.
The Company’s future results may be affected by changes in general
economic conditions and by the actions of customers and competitors.
Actual outcomes may differ materially from what is expressed in any
forward-looking statement. A more complete disclosure about forward-
looking statements begins on page 61 of our 2006 Form 10-K, and it
applies to this presentation.
This presentation contains certain non-GAAP financial measures such as
earnings before interest and taxes (EBIT). Please refer to our website
(www.cummins.com) for the reconciliation of EBIT to GAAP financial
measures.
2

3. Diversified Global Power Leader
Four Complementary Businesses
Engines Power Components Distribution
Generation
3

4. Creating Greater Shareholder Value
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CMI S&P 500 Peer Avg.
4

5. Confident in Our Ability to Perform in
2007 and Beyond
We have fundamentally changed our
business model
Our customers recognize Cummins for our
technology leadership
We are investing in the next generation of
profitable growth opportunities
5

6. 6

7. Cummins is a Long-Term Player in
Global On-Highway Markets
We have fundamentally changed our
business model
Customers recognize Cummins for our
technology leadership and dependability
We are investing in the next generation of
profitable growth opportunities in global
automotive markets
7

8. Aggressively Pursuing Cost Leadership
Engine Segment
Six Sigma
$8,000 $800
$7,511
$6,657
$7,000 $700
Technical productivity
Segment Net Sales ($M)
Segment EBIT ($M)
$6,000 $600
$5,424
$5,000 $500
Global sourcing $3,582
$4,000 $400
$3,435
$3,000 $300
Lean manufacturing $2,000 $200
$1,000 $100
$0 $0
2002 2003 2004 2005 2006
Segment Net Sales Segment EBIT
8

9. Virtual Integration with OEM Partners
9

10. Growing Share with OEM Partners
10

11. Delivering Great End-Customer Value
11

12. System Integration is Critical
Controls Integration
Vehicle, engine and aftertreatment . . .
a single system designed to optimize
performance, reliability, cost and emissions
12

13. The Right Technology Matters
Active Particulate Filter NOx Adsorber
Periodic Fuel Injection
NOx Adsorber Catalyst
NOx Control Using Urea SCR
Soot
Urea (NH3)
Ash
Ash
Soot
13

14. Investing in ‘Emissionized’ Markets
Europe
63,000
China
104,000
North America
428,000 Japan
India 69,000
100,000
South America
69,000
2006 Global Production 833,000 Engines
14

15. Investing in Global Light Duty Diesel
<6000 lb GVW 6000 – 8500 lb GVW >8500 lb GVW
Light Truck (includes PU trucks, SUVs and Vans)
North America 2.9 M 6.6 M 0.85 M
0% Diesel 67% Diesel
Worldwide 11.7 M 0.85 M
10% Diesel 67% Diesel
15

16. Investing in Emerging On-highway
Markets
16

17. Investing in Distribution Channel
Company-owned
Joint Venture
Independent
17

18. 18

19. Appendix

20. Cummins Inc.
2006 Revenue by Segment
2006 – Outstanding Components
Segment 17%
Year
Record revenue and Engine
Segment 55%
EBIT for the company Distribution
and each operating Segment 10%
segment
Record net income
Record cash flow from
operations for the year
Power Gen
Segment 18%
2006 Data
Sales: $11.4 billion
EBIT: $1,179 million
EBIT Margin: 10.4% (Target: 7-10%)
20

21. Cummins Inc.
2006 Revenue by Marketing Territory
International revenue Africa/Middle East
Canada 5%
is 50% of consolidated 7%
revenue
Mexico/Latin
Pre-emission demand America
8%
has accelerated US
growth rate
Most international United States
50%
areas growing at Asia/Australia
double digit rate 16%
Europe/CIS
14%
21

22. Cummins – Historical Performance
Sales EBIT
$12,000 1400
$11,362
$1,179
$9,918 1200
$10,000
$8,438
1000
$907
$8,000
$ Millons
$ Millons
800
$6,296
$5,853
$6,000
$543
600
$4,000
400
$181
$2,000
200 $139
$0 0
2002 2003 2004 2005 2006 2002 2003 2004 2005 2006
22

23. Engine Segment
2006 Revenue by Product
Emission regulations Parts and
create opportunities Service 20%
Midrange
Aftermarket revenue (3-9L) 37%
creates stable earnings
Emerging markets
Strategic OEM
partnerships
High
Horsepower
(19-91L) 14%
2006 Segment Data
Heavy-Duty
Sales: $7.5 billion (10-15L) 29%
EBIT: $733 million
EBIT Margin: 9.8% (Target: 7-10%)
23

24. Engine Segment
2006 Revenue by Market Application
Heavy-duty Truck Stationary
demand remains strong Power 10%
Mining/Rail Heavy-duty
Share gains in Medium- Govt/O&G truck 33%
Marine 12%
duty Truck & Bus
Off-highway markets
supported by non-
residential construction Construction
& Ag 15%
and commodity markets
Medium-duty
Light-duty Truck & bus 13%
2006 Segment Data
Automotive
Sales: $7.5 billion & RV 17%
EBIT: $733 million
EBIT Margin: 9.8% (Target: 7-10%)
24

25. Engines – Historical Performance
Sales Segment EBIT
8000 800
$7,511
$733
7000 700
$6,657
$582
6000 600
$5,424
5000 500
$M
$M
4000 400
$3,435 $3,582 $328
3000 300
2000 200
1000 100 $62
$37
0 0
2002 2003 2004 2005 2006 2002 2003 2004 2005 2006
25

26. Power Generation Segment
2006 Revenue by Product
Turnaround complete
Alternators
Commercial
Strengthening markets 19%
56%
Expanding market share
Rental
Consumer growth 2%
opportunities
Growing project business
Consumer
capability 13%
Power
Electronics
6%
2006 Segment Data Energy
Sales: $2.4 billion Solutions
4%
EBIT: $220 million
EBIT Margin: 9.1% (Target: 7-9%)
26

27. Power Generation – Historical Performance
Sales Segment EBIT
3000 250
$220
$2,416
2500 200
$1,999 $145
2000 150
$1,842
$M
$M
1500 100
$1,329
$1,226
$60
1000 50
500 0
($19)
($25)
0 -50
2002 2003 2004 2005 2006 2002 2003 2004 2005 2006
27

28. Components Segment
2006 Revenue by Product
Specialty
Strategic advantage in Filtration
6%
emissions compliance Air Intake
Systems
Significant future growth Turbocharger
11%
in revenue and earnings 27%
Multiple new product
introductions Acoustic
Exhaust
Winning non-CMI 12%
business Fuel
Systems
17%
Engine
Filtration
2006 Segment Data Catalytic
21%
Sales: $2.3 billion Exhaust
EBIT: $107 million 6%
EBIT Margin: 4.7% (Target: 7-9%)
28

29. Components – Historical Performance
Sales Segment EBIT
120
2500
$2,281 $107
$2,000 100 $94
2000 $89
$86
$1,783 $84
80
1500
$1,292
$M
$M
60
$951
1000
40
500
20
0
0
2002 2003 2004 2005 2006
2002 2003 2004 2005 2006
29

30. Distribution Segment
2006 Revenue by Product
Broadening product Service
offering 18%
Engines
Expanding global 20%
coverage
Increasing equity
ownership
Excelling in customer
support Parts,
Filters, &
Consumables
Power
38%
Generation
2006 Segment Data 24%
Sales: $1.4 billion
EBIT: $144 million
EBIT Margin: 10.4% (Target: 8-10%)
30

31. Distribution – Historical Performance
Sales Segment EBIT
1600 160
$144
$1,385
1400 140
$1,191
1200 120
$107
$973
1000 100
$79
$M
$M
800 80
$669
$574
600 60 $51
400 40 $33
200 20
0 0
2002 2003 2004 2005 2006 2002 2003 2004 2005 2006
31