1. Earnings Conference Call
Third Quarter Fiscal 2007
August 1, 2007
Robert G. Bohn
Chairman, President and Chief Executive Officer
Charles L. Szews
Executive Vice President and Chief Financial Officer
Patrick N. Davidson 1
Vice President of Investor Relations
August 1, 2007

2. Forward Looking Statements
Our remarks that follow, including answers to your questions and these slides, include
statements that we believe are “forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act. All of our statements, other than statements of historical fact,
including statements regarding Oshkosh Truck’s future financial position, business strategy,
targets, projected sales, costs, earnings, capital expenditures and debt levels, and plans and
objectives of management for future operations, are forward-looking statements. In addition,
forward-looking statements generally can be identified by the use of words such as “expect,”
“intend,” “estimates,” “anticipate,” “believe,” “should,” “plans,” or similar words. We cannot
give any assurance that such expectations will prove to be correct. Some factors that could cause
actual results to differ materially from our expectations include the accuracy of assumptions
made with respect to our expectations for fiscal 2007 and fiscal 2008, the Company’s ability to
integrate the JLG Industries, Inc., Oshkosh Specialty Vehicles and Iowa Mold Tooling Co., Inc.
acquisitions, the consequences of financial leverage associated with the JLG acquisition, the
Company’s ability to turn around the Geesink Norba Group and Medtec businesses sufficiently to
support their valuations resulting in no non-cash impairment charges for goodwill, the expected
level of U.S. Department of Defense procurement of the Company’s products and services, the
cyclical nature of the Company’s access equipment, commercial and fire & emergency markets,
risks related to reductions in government expenditures, the uncertainty of government
contracts, risks associated with international operations and risks related to the collectibility of
access equipment receivables. Additional information concerning these and other factors is
contained in our filings with the SEC, including our Form 8-K filed August 1, 2007. Except as set
forth in such Form 8-K, we disclaim any obligation to update such forward-looking statements.
2
August 1, 2007

3. Oshkosh Q3 2007 Highlights
• Sales increased 108% to
OSK Q3 Performance
$1.85 billion
(millions)
• Operating income increased
$2,000 $250.0
133% to $192.7 million $1,847
$1,800
$1,600 $200.0
• EPS up 68% to $1.21
Operating Income
Sales Revenue
$1,400 $192.7
$1,200 $150.0
• Increased fiscal 2007 EPS $1,000 $888
estimate range to $3.35 to
$819
$800 $100.0
$600
$3.40; initiated fiscal 2008 $82.6
$400 $50.0
$63.0
EPS estimate range of $200
$0 $0.0
$4.15 to $4.35 2005 2006 2007
• Oshkosh pursuit of MRAP
Sales Revenue Operating Income
business continues
3
August 1, 2007

4. Access Equipment
• Craig Paylor named president
of segment
• Integration efforts continue
to yield success
• Strong international markets,
particularly in Europe
• Strong aerial work platform
business in U.S., but softer
telehandler business
4
August 1, 2007

5. Defense
• Strong performance driven by
need for heavy and medium
tactical trucks
• Increased levels of:
– Employees
– Truck production rates
• Continuing pursuit of MRAP-
type contracts, with significant
available capacity:
– Prime
– Subcontractor
Killeen, Texas
– Teaming (ex. the Bull™)
5
August 1, 2007

6. Fire & Emergency
• Tom Fenner named
president of segment
• Strong performance at fire
apparatus maker Pierce
• Recent new product
launches continue to gain
traction
• Large airport products
contracts ship in Q4
• OSV integration is
progressing
6
August 1, 2007

7. Commercial
• Lower concrete placement
sales due to:
– Slowdown after engine
emissions pre-buy
– Weakness in U.S. residential
construction
• U.S. refuse sales remained
strong
• Necessary steps being taken
at Geesink Norba Group
• IMT integration continues on
track
7
August 1, 2007

8. Consolidated Results
Dollars in millions, except per share amounts
Third Quarter
Comments
2006
2007
Net Sales $1,847.3 $887.9
• Access equipment
% Growth 108.1% 8.4% and defense led the
Operating Income $ 192.7 $ 82.6 way
% Margin 10.4% 9.3%
• JLG accretive to EPS
% Growth 133.2% 31.2%
by $0.35 per share
Earnings Per Share $ 1.21 $ 0.72
• Debt reduced by
% Growth 68.1% 38.5%
$23 million
8
August 1, 2007

9. Access Equipment
Dollars in millions
Third Quarter
Comments
2006
2007
• Sales up in all regions
Net Sales $873.8 NA
- Particularly strong in
% Growth N/A NA
Europe
Operating Income $ 98.3 NA • Purchase accounting
charges:
% Margin 11.3% NA
- $2.0 million inventory
% Growth N/A NA revaluation
- $16.8 million recurring
amortization and
depreciation
• Backlog up 38.2%(1)
(1) Compared to JLG stand-alone results.
9
August 1, 2007

10. Defense
Dollars in millions
Third Quarter
Comments
2006
2007
Net Sales $376.3 $291.4 • Production ramp-up in
full swing
% Growth 29.1% 3.7%
• Strong volumes in new
Operating Income $ 65.3 $ 49.0
and remanufactured
% Margin 17.3% 16.8%
trucks
% Growth 33.1% 6.7%
• Sharply lower
aftermarket sales
• Backlog up 65.4%
10
August 1, 2007

11. Fire & Emergency
Dollars in millions
Third Quarter
Comments
2006
2007
• Growth in U.S. fire
Net Sales $290.2 $255.3
apparatus
% Growth 13.7% 14.7%
• Higher-margin airport
Operating Income $ 29.0 $ 29.8 product sales heavily
weighted to Q4
% Margin 10.0% 11.7%
• Supplier issues in 2006
% Growth (2.7)% 28.7%
affect comparison
• Includes $31.9 million
of sales from OSV
• Backlog up 9.4%,
including OSV
11
August 1, 2007

12. Commercial
Dollars in millions
Third Quarter
Comments
2006
2007
• Concrete placement
Net Sales $317.8 $350.6
demand declined after
% Growth (9.3)% 8.8%
’07 engine pre-buy
Operating Income $ 17.8 $ 25.4 • U.S. refuse sales up 14.4%
% Margin 5.6% 7.2% • Geesink Norba
performance improved
% Growth (29.7)% 252.0%
from Q2
• Includes $25.4 million of
sales from IMT
• Backlog down 51.1%,
including IMT
12
August 1, 2007

13. Oshkosh Fiscal 2007 Estimates
Sales of $6.3 to $6.35 billion
Expectations:
• Access equipment sales of
approximately $2.5 billion
• Defense sales to grow about 10%
• Fire and emergency sales to
increase over 20%
• Commercial sales to grow about 5%
13
August 1, 2007

14. Oshkosh Fiscal 2007 Estimates
Operating Income of $576 to $583 Million
Expectations:
• Access equipment margins slightly
greater than 9.5%, including purchase
accounting charges of $65 to $67
million
• Defense margins to decline by
approximately 100 to 150 bps
• Fire & emergency margins to be slightly
lower than previous year
• Commercial margins to decline by
50 to 100 bps
14
August 1, 2007

15. Oshkosh Fiscal 2007 Estimates
Other Estimates
Fiscal
2007
Estimates
Interest expense and other $195 to $200 million (expense)
Effective tax rate 36.0%
Equity in earnings $7.0 million (income)
Average shares outstanding 75,000,000
15
August 1, 2007

16. Oshkosh Fiscal 2007 Estimates
• Raising full-year EPS estimate
range to $3.35 to $3.40
• Estimated Q4 EPS range
of $0.90 to $0.95
• Anticipated capital spending
of approximately $105 million
• Debt expected to be
approximately $3.0 to $3.1
billion at fiscal year-end
16
August 1, 2007

17. Oshkosh Fiscal 2008 Estimates
Sales of $7.0 to $7.2 billion
Expectations:
• Access equipment sales to
increase 15.0% to 20.0%
• Defense sales to grow
over 20.0%
• Fire and emergency sales to
increase approximately 5.0%
• Commercial sales to be up
slightly
17
August 1, 2007

18. Oshkosh Fiscal 2008 Estimates
Operating Income of $705 to $730 Million
Expectations:
• Access equipment margins to improve
by 100 to 150 bps
• Defense margins to decline by
approximately 200 to 250 bps
• Fire & emergency margins to improve
by 50 to 100 bps
• Commercial margins to improve by
100 to 150 bps
• Corporate expense to grow by
approximately $30 million
18
August 1, 2007

19. Oshkosh Fiscal 2008 Estimates
Other Estimates
Fiscal
2008
Estimates
Interest expense and other $220 to $230 million (expense)
Effective tax rate 34.5%
Equity in earnings $3.0 million (income)
Average shares outstanding 76,500,000
19
August 1, 2007

20. Oshkosh Fiscal 2008 Estimates
• Estimated annual EPS range
of $4.15 to $4.35
• Anticipated capital spending
of approximately $110 million
• Debt expected to be
approximately $2.65 to $2.75
billion by September 30, 2008
20
August 1, 2007

21. Q3 2007 Summary
• Very strong performance by access equipment
• Defense business coming on strong, with margins
moving into lower, more sustainable range
– Remain in hunt for MRAP-type business
• Commercial segment in the down cycle of the
engine emissions pre-buy
• Favorable outlook through fiscal 2008
• Success of diversification strategy is evident
21
August 1, 2007

22. 22
August 1, 2007