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JEFFERIES INDUSTRIAL CEO SUMMIT
August 13, 2008
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.
Our Purpose
    To improve the lives of people around the world
Our Mission
    To delight construction, infrastructure, mining and
    other customers with value added offerings that exceed their current and future
    needs
    To achieve our mission we must attract the best people by creating a Terex culture
    that is safe, exciting, creative, fun and embraces continuous improvement

                    Our Vision
                         Customer – to be the most customer responsive company in
                         the industry as determined by the customer
                         Financial – to be the most profitable company in the industry as
                         measured by ROIC
                         Team Member – to be the best place to work in the industry as
                         determined by our team members
Strong and Diversified Sales Base

  Profitability grows faster than net sales:
       Net sales up 19% in FY 2007 and up 25% in Q2 2008 vs. PY
       Income from operations up 36% in FY 2007 and up 30% in Q2 2008 vs. PY
  Sales are geographically diverse with 70% of sales generated outside the US


                                                                                         Asia / Australia
Sales ($M)
                                                             Operating Profit (%)              14%
                                                                                                            USA
                                                                 10,081 12.0%
    11,000
                                                     9,138
                                                                                                            30%
                                             7,648                        10.0%
     9,000

                                     6,157                                8.0%
     7,000
                             4,799                                        6.0%
     5,000
                     3,910                                                4.0%
                                                                                                            Other Americas
             2,817
     3,000                                                                                                        8%
                                                                          2.0%
                                                                                    Europe / Africa /
                                                                                      Middle East
                                                                          0.0%
     1,000
                                                                                         48%
             2002    2003    2004    2005    2006    2007        LTM Q2
                                                                  2008


 12 year compounded annual growth
         rate for Sales of 27%
Where We Are Today


                            Terex is the 3rd largest manufacturer of construction
                                            equipment in the world
$30.4                                        Based on last twelve months of available Construction Equipment Sales ($’s in Billions)



                  $19.0

                                  $10.1              $9.1             $8.7              $8.1
                                                                                                            $5.2            $5.1              $4.9             $4.5              $4.4              $3.7


Caterpillar (1)                                   Hitachi (3)         Volvo           Liebherr (7)         CNH Global (8)      Sandvik (10)     Deere (5)         JCB (7)       Doosan (6)
                                                                              (4)
                  Komatsu (2)        Terex                                                                                                                                                         Oshkosh (9)


    (1) Represents total sales before Power Products, Financing and Insurance Services sales for the 9       (6) Represents 2007 Construction equipment sales of $1.5 billion based on exchange rate at
        months ended March 31, 2008 plus Building Construction Products, EAME Operations, Heavy                   December 31, 2007 of KRW/USD 936.07 plus estimated 2007 Bobcat sales of $2.9 billion
        Construction & Mining and Infrastructure Development sales for the 3 months ended June 30, 2008.     (7) Estimated, as these are privately owned companies:
    (2) Represents Komatsu’s Construction and Mining Products segment as of March 31, 2008.                      JCB: 2007 sales of GBP 2.25 billion converted at Dec 31, 2007 GBP/USD rate of 1.9870
        Exchange rate of 99.691 as of Mar 31, 2008                                                               Liebherr: 2007 Cranes/Mining/Construction sales of EUR 5.5 billion converted at Dec 31, 2007
    (3) Exchange rate used as of June 30, 2008 of USD/JPY 106.18                                                  EUR/USD rate of 1.4598
    (4) Represents Volvo’s Construction segment as of June 30, 2008. Rate of USD/SEK 6.0241                  (8) Represents CNH Global’s Construction Equipment Segment as of June 30, 2008
    (5) Represents Deere’s Construction and Forestry segment as of April 30, 2008                            (9) Represents Access & Concrete Placement equipment sales for the 9 months ended June 30, 2008
                                                                                                                  plus Access & Commercial (both concrete & refuse trucks) for the 3 months ended Sep 30, 2007.
                                                                                                             (10) Represents 2007 Mining & Construction sales converted at SEK/USD 6.46
Strong Market Presence

    Approximately 75% of 2007 sales were generated in markets where Terex is
       a major competitors and/or Terex has a significant market presence




                                                                                                         Hydraulic Mining
                                                            Cranes
          Aerial Work
                                                                                                           Excavators
                                                      ~$14 billion market
           Platforms                                                                                     ~$2.6 billion market
                                                     Terex is one of three
       ~$ 6 billion market                                                                               Terex is one of four
                                                         major global
       Terex is one of two                                                                                  major global
                                                         competitors
          major global                                                                                      competitors
          competitors




                                                                                                      Mobile Crushing &
           Material Handlers
                                                             Utilities                               Screening equipment
           ~$1.4 billion market
                                                    ~$1 billion market (USA)
           Terex is one of four                                                                        ~$3.5 billion market
                                                      Terex is one of two
              major global                                                                          Terex isA
                                                                                                            one of three major
                                                      major competitors
              competitors                                                                               global competitors
                                                                                                            A


* Market size approximations based on internal estimates and data from Yengst and Off Highway Research
Terex Product Diversity

                            The Terex strategy of product diversity carries
                      across the typical economic cycle with balance throughout



                                                                                     Early-Cycle
      Late-Cycle
                                                                                   10% of Net Sales
    34% of Net Sales
                                                                         Compact Construction Equipment (6%)
      Cranes (26%)
                                                                          Telehandlers & Concrete Mixers (4%)
Light Construction (3%)
Utility Equipment (3%)
   Roadbuilding (2%)

                                                             Mid-Cycle
                                                         33% of Net Sales
                                                   Aerial Work Platforms (21%)
                                                Heavy Construction Equipment (12%)




                                   Commodity driven based on Global Economics
                                               Material Processing & Mining (23%)

   Note: Percentages are based on 2007 sales
Goals for 2010

         GOAL                    June 30, 2008 LTM* What we must accomplish


   $12.0B in Sales                    $10.1B       Implies 7.2% CAGR



12% Operating Margin                   10.9%       Execute on supply chain
                                                   management, pricing process
                                                   discipline & lean initiatives


 15% W.C. to Sales                     22.1%       Optimize use of assets,
                                                   particularly inventory


                   “12 by 12 in ’10”
        is our medium term stretch goal
    * LTM = Last Twelve Months
Opportunities to Improve Margin

                     Ensure Terex is receiving appropriate value for its products
     Pricing         Offset rising commodity costs with commensurate pricing actions

                     Build a more sophisticated sales process through training and education


                     Coordinate supply efforts to leverage the scale of Terex
     Supply
                     Coordinate common platform design
   Management
                     Sourcing centers – China and India


                     Lean initiatives

                     Optimize manufacturing footprint
   Productivity

                     Sales and production planning methodology


A 2-3% incremental margin improvement is a reasonable objective
from these initiatives
Terex Business Segments

    Aerial Work Platforms
•

    Construction
•
                                                        Slice   1
    Cranes
•                                                       Slice   2
                                                        Slice   3
    Materials Processing & Mining                       Slice   4
•

    Roadbuilding, Utility Products
•
    and Other

               Sales by Segment
    (Last 12 months thru Jun 30, 2008, $ in millions)


                            7%
                          $689
                                  24%
                          RBUO
                                 $2,409
                23%
                                  AWP
               $2,427
                MPM
                                   20%
                                   $2,067
                         26%     Construction
                        $2,632
                        Cranes
Aerial Work Platform Segment

Highlights                                                   Sales by Geography - YTD Q2 2008

  Rising labor costs and tightening worker                                      11%
                                                                         8%
  safety regulations is driving demand in
                                                                                      51%
  developing markets                                                       30%

  Recent softening in Western Europe
  Prices increased for orders after Sept 1, 2008               USA                      Europe/Africa/Middle East
                                                               Asia/Australia           Other Americas


Opportunities
  European production capacity expansion => reduce transit time
  and inventory levels
  China manufacturing facility initially for sourcing
                                                        Manf. by Geography - Mid-term Goal
   Manufacturing by Geography - 2007

                                                                  ~10%
             <10%
                                                                                             Americ as
                                Americ as
                                                           ~30%                              Europe/Africa/Middle
                                Europe/Afric a/Middle                                        East
                                                                            A
                                East                                     ~60%                Asia/Australia
                                Asia/Australia
                90+%
                                                                                A
Construction Segment

                                                              Sales by Geography - YTD Q2 2008
 Highlights
                                                                                   3%
                                                                                 7%   14%
   European focused business
   Large market potential
                                                                                   76%
   Weak dollar hurts N. American distribution
 Opportunities                                                  USA                         Europe/Africa/Middle East
                                                                Asia/Australia              Other Americas

    Sales/service focus in developing markets
    Emphasis on sourcing and production in low cost countries
    ASV acquisition provides N. American distribution for
    compact equipment and global growth opportunity for
    compact track loaders

                                                      Manf. by Geography - Mid-term Goal
Manufacturing by Geography - 2007 p.f.

                9%
                                                                          ~30%
                                                           ~30%                               Americas
                               Americas
                                                                                  A
                                                                                              Europe/Africa/Middle
                               Europe/Africa/Middle
                                                                                              East
                                                                                  A
                               East
                                                                                              Asia/Australia
              91%              Asia/Australia
                                                                  ~40%
Crane Segment

                                                                     Sales by Geography - YTD Q2 2008
 Highlights                                                                        4%
                                                                                                      USA

   Strong demand expected through 2010                                                  23%
                                                                                                      Europe/Africa/Middle
                                                                             26%
                                                                                                      East

   Market leader above 300-ton capacity                                                               Asia/Australia
                                                                                       47%
                                                                                                      Other Americas
   Pricing and volume leverage are driving margin
   improvement
 Opportunities
  Chinese investment for cost and strategic reasons
  Selective expansion of manufacturing footprint



                                                        Manf. by Geography - Mid-term Goal
Manufacturing by Geography - 2007

           ~10 %
                                                                         ~25%
                                                              ~25%
                       ~2 5 %                                                                 Americas
                                Americ as
                                                                                   A
                                                                                              Europe/Africa/Middle
                                Europe/Afric a/Middle
                                                                                   A          East
                                East
                                                                                              Asia/Australia
                                Asia/Australia
                                                                     ~50%
              ~6 5 %
Material Processing & Mining Segment

                                                                   Sales by Geography - YTD Q2 2008
 Highlights
                                                                              13%
   Strong commodity demand through at least 2010                                                   USA
                                                                                     17%
                                                                                                   Europe/Africa/Middle
                                                                                                   East
   Market leader: hydraulic shovels and mobile                                                     Asia/Australia
                                                                           32%        38%

   crushing & screening equipment                                                                  Other Americas




 Opportunities
  Manufacturing in India for Material Processing
  Focus on Aftermarket
  Growing installed base of shovels that drives parts sales


                                                          Manf. by Geography - Mid-term Goal
Manufacturing by Geography - 2007
                  ~3 %
                                                                 ~15%
                                                                                            Americas
                                  Americas
                                                                           ~35%
                                                                                 A
                         ~3 5 %                                                             Europe/Africa/Middle
                                  Europe/Afric a/Middle
                                                                                            East
                                  East
                                                                                 A
         ~6 2 %
                                                                                            Asia/Australia
                                  Asia/Australia
                                                                  ~50%
Roadbuilding, Utilities & Other Segment

 Highlights                                                    Sales by Geography - YTD Q2 2008

                                                                               16%
   Inadequate funding for infrastructure in the USA                      1%
                                                                          6%

   Under-investment in fleet for many years by U.S.                                  77%

   based utilities
                                                                   USA   Europe/Africa/Middle East   Asia/Australia   Other Americas

 Opportunities
  Utilize Roadbuilding manufacturing capacity for Construction
  Segment products
  Focus on infrastructure
  International potential for Utilities

                                                    Manf. by Geography - Mid-term Goal
Manufacturing by Geography - 2007
             ~1%                                            ~10%
                                                         ~5%                                    Americ as
                             Americ as

                                                                                  A             Europe/Afric a/Middle
                             Europe/Africa/Middle
                                                                                                East
                             East
                                                                                  A
             ~9 9 %                                                                             Asia/Australia
                             Asia/Australia
                                                                   ~85%
Financial Overview




        A
        A
Return on Invested Capital (trailing 12 months)

                                                                   LTM After-Tax ROIC – Machinery Industry

                             35.0%
                                        29.5%           29.4%
                             30.0%                                   27.6%        27.0%         26.7%
                             25.0%
                                                                                                                19.4%
                                                                                                                              18.2%
                             20.0%

                             15.0%

                             10.0%                                                                                                     7.2%

                             5.0%

                             0.0%
                                     Caterpillar *    Joy Global     Deere *      Terex       Manitowoc         Bucyrus       Astec    OSK




                                                             LTM After-Tax ROIC – Diversified Industrials


                                30.0%                27.0%

                                25.0%
                                                                          20.0%
                                20.0%                                                           17.0%
                                                                                                                          13.8%
                                15.0%
                                                                                                                                         11.1%
                                10.0%

                                 5.0%

                                 0.0%
                                                     Terex               United           Illinois Tool Works        Dover Corp.      Danaher Corp
                                                                      Technologies
   ROIC is calculated by dividing the sum of the last four quarters’ net operating profit 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.
   DE and JOYG are as of Apr 30, 2008 and the remainder are as of Jun 30, 2008
   *Does not include finance arm of company
Net Sales Growth With Minimal Leverage



                                                                                                            $10,081
                       Net Debt
                       Sales                                                                       $9,138
                   ($ in millions)
                                                                                        $7,648


                                                                              $6,157


                                                                   $4,799

                                                         $3,910

                                              $2,817
                         $2,000
              $1,857                 $1,824
                                              $1,209
              $1,023                                      $894
                                     $805                           $780                                     $766
                          $721                                                 $571
                                                                                          $86        $80

               1999       2000       2001      2002       2003      2004       2005      2006       2007    Q2 2008*




 * Q2 2008 sales is based on last 12 months sales as of June 30, 2008; Net Debt is as of June 30, 2008
Working Capital Opportunities

         Working capital as a % of sales
         is comparable to our peers …
                                                                                                               … but the opportunity exists to
                                                                                                               release hundreds of millions of
                                                                                                               dollars from inventory.
                                Competitor Working Capital as % of Sales


40.0%      37.3%

35.0%
                          29.1%
                                                                                                                                         Inventory as % of Sales
30.0%
                                        25.1%
                                                         23.9%
25.0%                                                               22.1%
                                                                                20.4%                          35%   32.5%
20.0%
                                                                                            15.1%              30%
15.0%
                                                                                                                                       23.3%
                                                                                                               25%            22.6%                                                     21.5%
10.0%                                                                                                   7.3%                                    20.2%                        20.4%
                                                                                                                                                         18.5% 18.7%
                                                                                                               20%
5.0%
                                                                                                                                                                                                    15%
                                                                                                               15%
0.0%
                                                         r*




                                                                            SK




                                                                                                               10%
                                                                                                        *
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                           **




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                                                                                           oc
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                                                     pi
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                                                                                    an
                                                                                   M




                                                                                                                0%
                                                                                                                     Dec-02   Dec-03   Dec-04   Dec-05   Dec-06   Dec-07       Jun-07      Jun-08   Target

    * Excludes CAT and DE Finance arms                                                                                                   RAW       WIP      Finished Goods   Aftermarket
    ** DE and JOYG as of Apr 30. All others as of June 30, 2008
     *** MTW and BUCY combine accounts payable and accrued
    expenses, complicating a comparable analysis to peers
2008 Guidance

         Forecasted 2008 EPS growth of 17-22% versus 2007
              Sales guidance is for a range of $10.5 - $10.9 billion
              EPS guidance is between $6.85 - $7.15 per share*
                              $12,000

                                        Sales Growth of 71% - 77%
                               $9,000

                                                                                        $10,500
                               $6,000
                                                                                          to
                                                                               $9,138   $10,900
                                                              $7,648
                                             $6,157
                               $3,000


                                   $0
                                             2005              2006            2007     2008e

 $8.00
          EPS Growth of 272% - 289%
 $6.00


                                                                $6.85
 $4.00
                                                                  to
                                                $5.85           $7.15
 $2.00                         $3.88
              $1.84
 $0.00
              2005             2006             2007            2008e

    *Does not reflect impact of Fantuzi acquisition, which is expected to me
    minimally dilutive in 2008
Looking Ahead…….

Growth – Sales and Profit
    Leveraging global presence, consolidating vendors and pricing actions

Continue the TEREX business system implementation
    Lean manufacturing focus, customer-centric business approach, and human resource development

Developing market opportunities
    China, India, Russia and Latin America

ROIC focus
    27.0% ROIC (after-tax) as of June 30, 2008
    23.0% budgeted ROIC target for 2008


Investment Priorities
    Reinvest in the business
    Opportunistic and geographic acquisitions
                                                                             A
    $1.2 billion stock repurchase authorization; $362 million completed through Qtr 2 2008

                                                                             A
Appendix
Fantuzzi Overview

                                                                          Product Mix
Global leader in the design, manufacture, and service of
port equipment.                                                               Mobile
                                                                              Harbor
   2007 Revenues of approximately €447 million                                Cranes
                                                                                8%              Ship-to-
   Offers full range of equipment:                                                               Shore
                                                                                              Cranes / Rail
                                                             Reach
       Straddle Carriers                                                                       & Rubber
                                                           Stackers /
                                                                                              Tired Gantry
                                                            Forklift
       Rail / Rubber Tired Gantry Cranes                                                         Cranes
                                                            Trucks
                                                                                                  34%
                                                              28%
       Mobile Harbor Cranes
       Ship-to-Shore Cranes
       Reach Stackers & Forklift Trucks                                   Straddle Carriers
                                                                                30%

Factories in Italy, Germany, and China
                                                                          Revenue Mix
Global distribution and geographic reach
                                                                               Australia /
   17 Sales and service branches around the world                             New Zealand
                                                                                  6%
                                                                        NA
   120+ technicians                                                     11%


2,230 team members                                                                             EMEA
                                                                                                56%
                                                                 Asia
                                                                 27%
Fantuzzi Acquisition Summary

 Fantuzzi provides an important growth opportunity in the intermodal transportation
 area of infrastructure

 Diversifies our crane portfolio with related technology:
    New attractive end markets
    Broad geographic revenue mix
        China accounts for 10 – 15% of sales


 Global port technology leader
    Complete range of equipment
    Innovative new technologies – “Sprinter”
    Leading market positions – Straddle Carriers & Reach Stackers

 Sourcing and lean manufacturing opportunities

 EPS accretive by the end of 2009
Questions?

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terex Jefferies081308

  • 1. JEFFERIES INDUSTRIAL CEO SUMMIT August 13, 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.
  • 3. Our Purpose To improve the lives of people around the world Our Mission To delight construction, infrastructure, mining and other customers with value added offerings that exceed their current and future needs To achieve our mission we must attract the best people by creating a Terex culture that is safe, exciting, creative, fun and embraces continuous improvement Our Vision Customer – to be the most customer responsive company in the industry as determined by the customer Financial – to be the most profitable company in the industry as measured by ROIC Team Member – to be the best place to work in the industry as determined by our team members
  • 4. Strong and Diversified Sales Base Profitability grows faster than net sales: Net sales up 19% in FY 2007 and up 25% in Q2 2008 vs. PY Income from operations up 36% in FY 2007 and up 30% in Q2 2008 vs. PY Sales are geographically diverse with 70% of sales generated outside the US Asia / Australia Sales ($M) Operating Profit (%) 14% USA 10,081 12.0% 11,000 9,138 30% 7,648 10.0% 9,000 6,157 8.0% 7,000 4,799 6.0% 5,000 3,910 4.0% Other Americas 2,817 3,000 8% 2.0% Europe / Africa / Middle East 0.0% 1,000 48% 2002 2003 2004 2005 2006 2007 LTM Q2 2008 12 year compounded annual growth rate for Sales of 27%
  • 5. Where We Are Today Terex is the 3rd largest manufacturer of construction equipment in the world $30.4 Based on last twelve months of available Construction Equipment Sales ($’s in Billions) $19.0 $10.1 $9.1 $8.7 $8.1 $5.2 $5.1 $4.9 $4.5 $4.4 $3.7 Caterpillar (1) Hitachi (3) Volvo Liebherr (7) CNH Global (8) Sandvik (10) Deere (5) JCB (7) Doosan (6) (4) Komatsu (2) Terex Oshkosh (9) (1) Represents total sales before Power Products, Financing and Insurance Services sales for the 9 (6) Represents 2007 Construction equipment sales of $1.5 billion based on exchange rate at months ended March 31, 2008 plus Building Construction Products, EAME Operations, Heavy December 31, 2007 of KRW/USD 936.07 plus estimated 2007 Bobcat sales of $2.9 billion Construction & Mining and Infrastructure Development sales for the 3 months ended June 30, 2008. (7) Estimated, as these are privately owned companies: (2) Represents Komatsu’s Construction and Mining Products segment as of March 31, 2008. JCB: 2007 sales of GBP 2.25 billion converted at Dec 31, 2007 GBP/USD rate of 1.9870 Exchange rate of 99.691 as of Mar 31, 2008 Liebherr: 2007 Cranes/Mining/Construction sales of EUR 5.5 billion converted at Dec 31, 2007 (3) Exchange rate used as of June 30, 2008 of USD/JPY 106.18 EUR/USD rate of 1.4598 (4) Represents Volvo’s Construction segment as of June 30, 2008. Rate of USD/SEK 6.0241 (8) Represents CNH Global’s Construction Equipment Segment as of June 30, 2008 (5) Represents Deere’s Construction and Forestry segment as of April 30, 2008 (9) Represents Access & Concrete Placement equipment sales for the 9 months ended June 30, 2008 plus Access & Commercial (both concrete & refuse trucks) for the 3 months ended Sep 30, 2007. (10) Represents 2007 Mining & Construction sales converted at SEK/USD 6.46
  • 6. Strong Market Presence Approximately 75% of 2007 sales were generated in markets where Terex is a major competitors and/or Terex has a significant market presence Hydraulic Mining Cranes Aerial Work Excavators ~$14 billion market Platforms ~$2.6 billion market Terex is one of three ~$ 6 billion market Terex is one of four major global Terex is one of two major global competitors major global competitors competitors Mobile Crushing & Material Handlers Utilities Screening equipment ~$1.4 billion market ~$1 billion market (USA) Terex is one of four ~$3.5 billion market Terex is one of two major global Terex isA one of three major major competitors competitors global competitors A * Market size approximations based on internal estimates and data from Yengst and Off Highway Research
  • 7. Terex Product Diversity The Terex strategy of product diversity carries across the typical economic cycle with balance throughout Early-Cycle Late-Cycle 10% of Net Sales 34% of Net Sales Compact Construction Equipment (6%) Cranes (26%) Telehandlers & Concrete Mixers (4%) Light Construction (3%) Utility Equipment (3%) Roadbuilding (2%) Mid-Cycle 33% of Net Sales Aerial Work Platforms (21%) Heavy Construction Equipment (12%) Commodity driven based on Global Economics Material Processing & Mining (23%) Note: Percentages are based on 2007 sales
  • 8. Goals for 2010 GOAL June 30, 2008 LTM* What we must accomplish $12.0B in Sales $10.1B Implies 7.2% CAGR 12% Operating Margin 10.9% Execute on supply chain management, pricing process discipline & lean initiatives 15% W.C. to Sales 22.1% Optimize use of assets, particularly inventory “12 by 12 in ’10” is our medium term stretch goal * LTM = Last Twelve Months
  • 9. Opportunities to Improve Margin Ensure Terex is receiving appropriate value for its products Pricing Offset rising commodity costs with commensurate pricing actions Build a more sophisticated sales process through training and education Coordinate supply efforts to leverage the scale of Terex Supply Coordinate common platform design Management Sourcing centers – China and India Lean initiatives Optimize manufacturing footprint Productivity Sales and production planning methodology A 2-3% incremental margin improvement is a reasonable objective from these initiatives
  • 10. Terex Business Segments Aerial Work Platforms • Construction • Slice 1 Cranes • Slice 2 Slice 3 Materials Processing & Mining Slice 4 • Roadbuilding, Utility Products • and Other Sales by Segment (Last 12 months thru Jun 30, 2008, $ in millions) 7% $689 24% RBUO $2,409 23% AWP $2,427 MPM 20% $2,067 26% Construction $2,632 Cranes
  • 11. Aerial Work Platform Segment Highlights Sales by Geography - YTD Q2 2008 Rising labor costs and tightening worker 11% 8% safety regulations is driving demand in 51% developing markets 30% Recent softening in Western Europe Prices increased for orders after Sept 1, 2008 USA Europe/Africa/Middle East Asia/Australia Other Americas Opportunities European production capacity expansion => reduce transit time and inventory levels China manufacturing facility initially for sourcing Manf. by Geography - Mid-term Goal Manufacturing by Geography - 2007 ~10% <10% Americ as Americ as ~30% Europe/Africa/Middle Europe/Afric a/Middle East A East ~60% Asia/Australia Asia/Australia 90+% A
  • 12. Construction Segment Sales by Geography - YTD Q2 2008 Highlights 3% 7% 14% European focused business Large market potential 76% Weak dollar hurts N. American distribution Opportunities USA Europe/Africa/Middle East Asia/Australia Other Americas Sales/service focus in developing markets Emphasis on sourcing and production in low cost countries ASV acquisition provides N. American distribution for compact equipment and global growth opportunity for compact track loaders Manf. by Geography - Mid-term Goal Manufacturing by Geography - 2007 p.f. 9% ~30% ~30% Americas Americas A Europe/Africa/Middle Europe/Africa/Middle East A East Asia/Australia 91% Asia/Australia ~40%
  • 13. Crane Segment Sales by Geography - YTD Q2 2008 Highlights 4% USA Strong demand expected through 2010 23% Europe/Africa/Middle 26% East Market leader above 300-ton capacity Asia/Australia 47% Other Americas Pricing and volume leverage are driving margin improvement Opportunities Chinese investment for cost and strategic reasons Selective expansion of manufacturing footprint Manf. by Geography - Mid-term Goal Manufacturing by Geography - 2007 ~10 % ~25% ~25% ~2 5 % Americas Americ as A Europe/Africa/Middle Europe/Afric a/Middle A East East Asia/Australia Asia/Australia ~50% ~6 5 %
  • 14. Material Processing & Mining Segment Sales by Geography - YTD Q2 2008 Highlights 13% Strong commodity demand through at least 2010 USA 17% Europe/Africa/Middle East Market leader: hydraulic shovels and mobile Asia/Australia 32% 38% crushing & screening equipment Other Americas Opportunities Manufacturing in India for Material Processing Focus on Aftermarket Growing installed base of shovels that drives parts sales Manf. by Geography - Mid-term Goal Manufacturing by Geography - 2007 ~3 % ~15% Americas Americas ~35% A ~3 5 % Europe/Africa/Middle Europe/Afric a/Middle East East A ~6 2 % Asia/Australia Asia/Australia ~50%
  • 15. Roadbuilding, Utilities & Other Segment Highlights Sales by Geography - YTD Q2 2008 16% Inadequate funding for infrastructure in the USA 1% 6% Under-investment in fleet for many years by U.S. 77% based utilities USA Europe/Africa/Middle East Asia/Australia Other Americas Opportunities Utilize Roadbuilding manufacturing capacity for Construction Segment products Focus on infrastructure International potential for Utilities Manf. by Geography - Mid-term Goal Manufacturing by Geography - 2007 ~1% ~10% ~5% Americ as Americ as A Europe/Afric a/Middle Europe/Africa/Middle East East A ~9 9 % Asia/Australia Asia/Australia ~85%
  • 17. Return on Invested Capital (trailing 12 months) LTM After-Tax ROIC – Machinery Industry 35.0% 29.5% 29.4% 30.0% 27.6% 27.0% 26.7% 25.0% 19.4% 18.2% 20.0% 15.0% 10.0% 7.2% 5.0% 0.0% Caterpillar * Joy Global Deere * Terex Manitowoc Bucyrus Astec OSK LTM After-Tax ROIC – Diversified Industrials 30.0% 27.0% 25.0% 20.0% 20.0% 17.0% 13.8% 15.0% 11.1% 10.0% 5.0% 0.0% Terex United Illinois Tool Works Dover Corp. Danaher Corp Technologies ROIC is calculated by dividing the sum of the last four quarters’ net operating profit 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. DE and JOYG are as of Apr 30, 2008 and the remainder are as of Jun 30, 2008 *Does not include finance arm of company
  • 18. Net Sales Growth With Minimal Leverage $10,081 Net Debt Sales $9,138 ($ in millions) $7,648 $6,157 $4,799 $3,910 $2,817 $2,000 $1,857 $1,824 $1,209 $1,023 $894 $805 $780 $766 $721 $571 $86 $80 1999 2000 2001 2002 2003 2004 2005 2006 2007 Q2 2008* * Q2 2008 sales is based on last 12 months sales as of June 30, 2008; Net Debt is as of June 30, 2008
  • 19. Working Capital Opportunities Working capital as a % of sales is comparable to our peers … … but the opportunity exists to release hundreds of millions of dollars from inventory. Competitor Working Capital as % of Sales 40.0% 37.3% 35.0% 29.1% Inventory as % of Sales 30.0% 25.1% 23.9% 25.0% 22.1% 20.4% 35% 32.5% 20.0% 15.1% 30% 15.0% 23.3% 25% 22.6% 21.5% 10.0% 7.3% 20.2% 20.4% 18.5% 18.7% 20% 5.0% 15% 15% 0.0% r* SK 10% * x ** * ** c re ** re lla te YG s* ee oc O Te pi As ru JO w er D cy i to at 5% Bu C an M 0% Dec-02 Dec-03 Dec-04 Dec-05 Dec-06 Dec-07 Jun-07 Jun-08 Target * Excludes CAT and DE Finance arms RAW WIP Finished Goods Aftermarket ** DE and JOYG as of Apr 30. All others as of June 30, 2008 *** MTW and BUCY combine accounts payable and accrued expenses, complicating a comparable analysis to peers
  • 20. 2008 Guidance Forecasted 2008 EPS growth of 17-22% versus 2007 Sales guidance is for a range of $10.5 - $10.9 billion EPS guidance is between $6.85 - $7.15 per share* $12,000 Sales Growth of 71% - 77% $9,000 $10,500 $6,000 to $9,138 $10,900 $7,648 $6,157 $3,000 $0 2005 2006 2007 2008e $8.00 EPS Growth of 272% - 289% $6.00 $6.85 $4.00 to $5.85 $7.15 $2.00 $3.88 $1.84 $0.00 2005 2006 2007 2008e *Does not reflect impact of Fantuzi acquisition, which is expected to me minimally dilutive in 2008
  • 21. Looking Ahead……. Growth – Sales and Profit Leveraging global presence, consolidating vendors and pricing actions Continue the TEREX business system implementation Lean manufacturing focus, customer-centric business approach, and human resource development Developing market opportunities China, India, Russia and Latin America ROIC focus 27.0% ROIC (after-tax) as of June 30, 2008 23.0% budgeted ROIC target for 2008 Investment Priorities Reinvest in the business Opportunistic and geographic acquisitions A $1.2 billion stock repurchase authorization; $362 million completed through Qtr 2 2008 A
  • 23. Fantuzzi Overview Product Mix Global leader in the design, manufacture, and service of port equipment. Mobile Harbor 2007 Revenues of approximately €447 million Cranes 8% Ship-to- Offers full range of equipment: Shore Cranes / Rail Reach Straddle Carriers & Rubber Stackers / Tired Gantry Forklift Rail / Rubber Tired Gantry Cranes Cranes Trucks 34% 28% Mobile Harbor Cranes Ship-to-Shore Cranes Reach Stackers & Forklift Trucks Straddle Carriers 30% Factories in Italy, Germany, and China Revenue Mix Global distribution and geographic reach Australia / 17 Sales and service branches around the world New Zealand 6% NA 120+ technicians 11% 2,230 team members EMEA 56% Asia 27%
  • 24. Fantuzzi Acquisition Summary Fantuzzi provides an important growth opportunity in the intermodal transportation area of infrastructure Diversifies our crane portfolio with related technology: New attractive end markets Broad geographic revenue mix China accounts for 10 – 15% of sales Global port technology leader Complete range of equipment Innovative new technologies – “Sprinter” Leading market positions – Straddle Carriers & Reach Stackers Sourcing and lean manufacturing opportunities EPS accretive by the end of 2009