1. Gabelli Best Ideas Conference
December 4, 2008

2. Forward Looking Statements &
Non-GAAP Measures
The following presentation contains forward-looking information based on the current expectations of Terex
Corporation. Because forward-looking statements involve risks and uncertainties, actual results could differ
materially. Such risks and uncertainties, many of which are beyond the control of Terex, include among others: our
business is highly cyclical and weak general economic conditions may affect the sales of its products and its
financial results; our business is sensitive to fluctuations in interest rates and government spending; the ability to
successfully integrate acquired businesses; the retention of key management personnel; our businesses are very
competitive and may be affected by pricing, product initiatives and other actions taken by competitors; the effects of
changes in laws and regulations; our business is international in nature and is subject to changes in exchange rates
between currencies, as well as international politics; our continued access to capital and ability to obtain parts and
components from suppliers on a timely basis at competitive prices; the financial condition of suppliers and
customers, and their continued access to capital; our ability to timely manufacture and deliver products to
customers; possible work stoppages and other labor matters; our debt outstanding and the need to comply with
restrictive covenants contained in our debt agreements; our ability to maintain adequate disclosure controls and
procedures, maintain adequate internal controls over financial reporting and file its periodic reports with the SEC on
a timely basis; the previously announced investigations by the SEC and the Department of Justice; compliance with
applicable environmental laws and regulations; product liability claims and other liabilities arising out of our
business; and other factors, risks, uncertainties more specifically set forth in our public filings with the SEC. Actual
events or the actual future results of Terex may differ materially from any forward looking statement due to those
and other risks, uncertainties and significant factors. The forward-looking statements speak only as of the date of
this presentation. Terex expressly disclaims any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statement included in this presentation to reflect any changes in expectations with
regard thereto or any changes in events, conditions, or circumstances on which any such statement is based.
Non-GAAP Measures: Terex from time to time refers to various non-GAAP (generally accepted accounting
principles) financial measures in this presentation. Terex believes that this information is useful to understanding
its operating results and the ongoing performance of its underlying businesses without the impact of special items.
See the Investors section of our website www.terex.com for a complete reconciliation.
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3. Purpose To improve the lives of people around the world
•
Mission To delight construction, infrastructure, mining and
•
other customers with value-added offerings that
exceed their needs
To attract the best people by creating a culture that
•
is safe, exciting, creative, fun, and embraces
continuous improvement
Vision To be the most responsive company in the industry
•
as determined by the customer
To be the most profitable company in the industry as
•
measured by Return on Invested Capital (ROIC)
To be the best place to work in our industry as
•
determined by our team members
3

4. Terex Is…
• A diversified portfolio of equipment businesses
• Positioned for continuing long - term trends
• A leader in our industry
• Leveraging the Power of One Company
AERIAL WORK MATERIALS PROC.
CRANES
PLATFORMS AND MINING
ROADBUILDING AND
CONSTRUCTION
UTILITIES
4

5. Terex is Diversified
Diversified Portfolio of Equipment Businesses
2008 YTD Sales by Geography
2008 LTM* Sales by Segment
RBU
7%
Developing
AWP
Markets
22% W. Europe
Construction 24% 32%
20%
Japan / ANZ
9%
USA /
Cranes
MP&M
Canada
27%
24%
35%
$ 10.4 billion $ 7.8 billion
$ 10.4 billion $ 7.8 billion
Balanced by business; Balanced geographically
5
* Last Twelve Months sales through Sep 30, 2008

6. Positioned for Continuing
Long - Term Trends
Near Term Price Volatility LONG TERM OUTLOOK
160 Oil ($/bbl) Coal (Near Term Futures Contract)
140
120
100
80
60
40
20
0
12/1/97
12/1/98
12/1/99
12/1/00
12/1/01
12/1/02
12/1/03
12/1/04
12/1/05
12/1/06
12/1/07
12/1/08
• Near term commodity price volatility is challenging, as lower anticipated
consumption brings down prices, impacting short term production levels
• Robust long term outlook for energy remains – driven by advancing consumption in
the developing world and continued demand elsewhere
• Terex is well positioned to capitalize in Cranes, Mining, and Other businesses
* Source: International Energy Agency, Oil Price is average global price, Coal futures price is the NYMEX contract for Central Appalachian Coal
6

7. Positioned for Continuing
Long - Term Trends
EXPENDITURES BY TOP 40 MINING
COMPANIES ($ Billions)
CAPEX*
OPEX*
200
$176
60
180
$51
160 $141 50
$134
140 $125
$37
120 40
$95
100 $28
$75 30
80
60 20
40
10
20
0
0
'02 '03 '04 '05 '06 '07
'05 '06 '07
• Recent aggressive investment in global commodities will likely slow near term, but
leading producers remain committed to expanding capacity
• Per capita commodity consumption in developing countries remains well below
developed country norms and will continue to increase over time
• This trend directly benefits Terex in Mining, Materials Processing, and other
businesses that sell equipment into the mining industry
*Source: PWC: “Mine: As Good as it Gets?”, 2008 – capex excludes acquisitions
7

8. Positioned for Continuing
Long-Term Trends
GLOBAL RESIDENTIAL
GLOBAL NON-RESIDENTIAL
$Billions $Billions
CONSTRUCTION (REAL 2008 $)*
CONSTRUCTION (REAL 2008 $)* $7,000
$8,000
$7,000 $6,000
5.6%
CAGR
$6,000
3.4 % $5,000
CAGR
$5,000
5.6 % $4,000
CAGR 4.2 %
2.2 %
$4,000
-3.8 % CAGR
CAGR 6.8 %
$3,000 CAGR
CAGR
1.9 %
$3,000 3.6 %
CAGR
CAGR
$2,000
$2,000
$1,000
$1,000
$0
$0
'90'91'92'93'94'95'96'97'98'99'00'01'02'03'04'05'06'07'08'09'10'11'12'13'14'15'16'17'18
'90'91'92'93'94'95'96'97'98'99'00'01'02'03'04'05'06'07'08'09'10'11'12'13'14'15'16'17'18
Infrastructure Industrial Other Non-Residential Total Residential
• Global non-residential construction growth continuing, at a
slower than recent rate but still above historicals
• Residential in decline but expected to bottom in 2009
• Long term prospects in construction equipment remain positive
* Source: Global Insights, October 30, 2008; 69 countries tracked by GI + 5% to account for rest of world … consistent with global GDP’s
8

9. Terex is a Leader in Our Industry
$31.6
$19.7
$10.4 $9.1 $8.7 $8.1
$5.2 $5.1 $4.8 $4.5 $4.4 $3.7
Caterpillar (1) Hitachi (3) Volvo Liebherr (7) Sandvik (10) CNH Global (8) Deere (5) JCB (7) Doosan (6)
(4)
Komatsu (2) Terex Oshkosh (9)
Based on last twelve months of available Construction Equipment Sales ($’s in Billions)
(7) Estimated, as these are privately owned companies:
(1) Represents Machinery sales for the last twelve months ended Sep 30, 2008; excludes
JCB: 2007 sales of GBP 2.25 billion converted at Dec 31, 2007 GBP/USD rate of
Engine and Financial Product sales.
1.9870
(2) Represents Komatsu’s Construction, Mining & Utility Equipment segment as of June 30,
Liebherr: 2007 Cranes/Mining/Construction sales of EUR 5.5 billion converted at Dec
2008 converted at an exchange rate of JPY/USD of 106.18
31, 2007 EUR/USD rate of 1.4598
(3) Exchange rate used as of June 30, 2008 of USD/JPY 106.18
(8) Represents CNH Global’s Construction Equipment Segment as of Sep 30, 2008
(4) Represents Volvo’s Construction Equipment segment as of Sep 30, 2008 converted at
(9) Represents Access & Concrete Placement equipment sales for the 9 months ended
an exchange rate of USD/SEK 6.9252
June 30, 2008 plus Access & Commercial (both concrete & refuse trucks) for the 3
(5) Represents Deere’s Construction and Forestry segment as of October 31, 2008
months ended Sep 30, 2007.
(6) Represents 2007 Construction Equipment sales of $1.5 billion converted at an exchange
(10) Represents Mining & Construction sales through Jun 30, 2008 converted at an
rate at Dec 31, 2007 of KRW/USD 936.07 plus estimated 2007 bobcat sales of $2.9
exchange rate of SEK/USD 6.9252
billion
9

10. Terex is a Leader in Our Industry
Over 75% of sales for the last 12 months through Sep 30, 2008 were
generated in markets where Terex has significant market presence
AERIAL WORK MP&M
CRANES
PLATFORMS
• Hydraulic Excavators (top 3)
• All Terrain Cranes (top 2)
• Articulated boom lifts (top 2)
• Mining Trucks (#3)
• Rough Terrain Cranes (top 3)
• Telescopic boom lifts (top 2)
• Surface Drills (# 3)
• Tower Cranes (#3)
• Scissor lifts (top 3) • Crushing & Screening (#1)*
• Large Crawlers (#1)
• NA Telehandlers (#2) • Highwall Miners (#1)
ROADBUILDING AND
CONSTRUCTION
UTILITIES
• Compact Track Loaders (#1)
• Front Discharge Mixers (#1)
• Material Handlers (#2 or 3)
• Insulated Aerials (#2)
* Mobile equipment
10

11. Terex is a Leader in Our Industry
Q3 2008 LTM After-Tax ROIC-Machinery Industry
• In-line with larger,
40%
more vertically
30% 32.9% 32.5%
integrated competitors
26.9%
24.4%
20% 23.6%
20.2%
18.1%
10%
8.9%
0%
Manit owoc Joy Global Deere Cat erpillar Terex Bucyrus Ast ec Oshkosh
Q3 2008 LTM After-Tax ROIC-Diversified Industrials
• Better than diversified
30%
industrials with higher
23.6%
20%
valuations
18.9%
16.9%
13.9%
10%
11.8%
0%
Terex Unit ed Technologies Illinois Tool Works Dover Corp. Danaher Corp
ROIC is calculated by dividing the sum of the last four quarters’ net operating income after tax by the average of the sum of total stockholders’ equity plus
debt less cash and cash equivalents for the most recent last five quarters ended. DE is as of 10/31/08 and JOYG is as of 7/31/08, the remainder are at
9/30/08. CAT and DE do not include the finance arms above. Including the finance arms, DE ROIC is 10.8% and CAT ROIC is 9.7%. MTW Q3 2008
excludes the $198 million loss on currency hedge; OSK excludes $175 million goodwill impairment charge incurred during Q3 2008.
11

12. Leveraging the Power of One Company
• Our framework to build
a stronger Terex
• Process improvements
will assure long term
success
12

13. Financial Perspective
• 5+ years of strong growth, driven by market conditions and
an increasingly robust portfolio
• Committed to core financial principles
– Growth with moderate debt leverage
– ROIC focused
• Near term outlook is mixed but long term remains positive
• Core business initiatives that will enhance long-term
results
13

14. Terex to Date:
Consistent Sales Growth
Sales growth since 2003 has been ~90% organic
Sales (USD billions) Operating Income (USD billions)
$1.2
$10.0
$1.0
$8.0
$0.8
$6.0
$0.6
$4.0 $0.4
$2.0 $0.2
$0.0 $0.0
'94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 Q3
LTM
Acquisitions: PPM Simon
O&K Reedrill
Powerscreen, Cedarapids ASV
Hydra
Fermec
SHM
CMI, Atlas
Schaeff, Demag, Genie 14

15. Developing Markets Growth to Date
DEVELOPING MARKET
DEVELOPING MARKET
SALES BY BUSINESS ($)
SALES GROWTH ($)
RBU
AWP
Africa
Construction
Middle East
S/C America
MP&M
Russia/ E. Europe
Cranes
Asia, ex. Japan
2004 2005 2006 2007
2004 2005 2006 2007
Broad Based Global Growth
22% of 2007 sales
Strongest In 3 Businesses
42% CAGR 2004 - 2007
15

16. Terex to Date:
Broad-based Profit Growth
Operating Income
(USD billions)
$1.2
$1.0
$0.8
CAGR 82%
$0.6
$0.4
$0.2
$0.0
2002 2003 2004 2005 2006 2007 LTM Q3 2008
Aerial Work Platforms Construction Cranes
Material Processing & Mining Roadbuilding, Utilities & Other
16

17. Terex to Date:
Growth with Moderate Leverage
$10.4
Net Debt
Sales $9.1
($ in billions) $7.6
$6.2
$4.8
$3.9
$2.8
$2.0
$1.9 $1.8
1999 2000 2001 2002 2003 2004 2005 2006 2007 Q3 2008*
Net leverage of 1.0x at Q3 2008 provides flexibility
• Q3 2008 sales is based on last 12 months sales as of Sept 30, 2008; Net Debt is as of Sept 30, 2008
• Net leverage ratio is defined as debt less cash and cash equivalents divided by last twelve months EBITDA
17

18. Return on Invested Capital
50%
43%
38%
40%
35%
30% 29%
Pre-tax
25%
21% After-tax
24%
20%
12%
14%
10% 10%
3%
0%
2003 2004 2005 2006 2007 Q3 LTM
Recent acquisitions of SHM and ASV dampen returns in the short term
ROIC is calculated by dividing the sum of the last four quarters’ net operating income after tax by the average of the sum of total stockholders’ equity
plus debt less cash and cash equivalents for the last five quarters ended.
18

19. Near Term Outlook
Next four quarters net sales expectations beginning 4Q’08:
• Mining and Cranes continuing favorable trends
• AWP (30%-40%), Construction (25%-35%) and Materials Processing
(15%-20%) negatively impacted by current market conditions
• Continued strong US$ would have a negative translation impact
Material Cost pressure continues ahead of pricing actions in short term
Cost reduction actions underway to adjust to market expectations
Focus on Cash
19

20. Near Term Actions
Cost Reduction:
Production level and headcount reductions
•
Discretionary spending curtailment
•
Facility rationalization
•
Segment realignment
•
Cash Generation:
Material inflow constrained
•
Focus on reducing finished goods inventory
•
Slowing capital spending
•
20

21. Cash Priorities
Maintain financial flexibility in current environment
• No near term debt maturities
• Current leverage of 1x net debt / EBITDA
Internal investment with vigilance
Value generating acquisitions
Returning cash to shareholders
• Currently suspended share repurchase program, pending
access to credit markets
• $1.2 billion authorized through June 2009 ($0.6 B to date)
21

22. Summary
• Diversified portfolio – geographic and product
• Positioned for long-term trends
• Infrastructure
• Developing markets
• Leadership position in over 75% of revenue base
• Internal initiatives will enhance operating performance
• Aggressively responding to changing market and credit conditions
22

23. Questions?
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