The document summarizes Oshkosh Truck Corporation's fourth quarter fiscal 2007 earnings conference call. It discusses record sales and operating income for fiscal 2007. Projections are provided for fiscal 2008, estimating sales between $7.1-7.3 billion and operating income between $690-715 million. Segment performances are reviewed, with access equipment and defense highlighted as key growth drivers. Estimates are also given for interest expense, tax rates, capital expenditures and debt levels for fiscal 2008.

1. Earnings Conference Call
Fourth Quarter Fiscal 2007
November 1, 2007
Robert G. Bohn
Chairman and Chief Executive Officer
Charles L. Szews
President and Chief Operating Officer
David M. Sagehorn
Executive Vice President and Chief Financial Officer
1
Patrick N. Davidson
November 1, 2007
Vice President of Investor Relations

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, debt levels and cash flows, 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,” “estimate,” “anticipate,” “believe,” “should,” “plan,” 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 2008, the Company’s ability to
integrate the acquired JLG Industries, Inc. business, the consequences of financial leverage
associated with the JLG acquisition, the Company’s ability to turn around the Geesink Norba
Group business sufficiently to support its valuation resulting in no 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 sales,
including foreign currency fluctuations; risks related to the collectibility of access equipment
receivables and the potential for increased costs relating to compliance with changes in laws and
regulations. Additional information concerning these and other factors is contained in our filings
with the SEC, including our Form 8-K filed November 1, 2007. Except as set forth in such Form
8-K, we disclaim any obligation to update such forward-looking statements.
2
November 1, 2007

3. Oshkosh Fiscal 2007 Highlights
• All-time records:
OSK 5-yr Annual Performance
– $6.3 billion sales
(millions)
– $590 million operating income
$7,000.0 $700.0
– $3.58 EPS $6,307.3
$6,000.0 $600.0
• Repaid $256.5 million of debt
Operating Income
Sales Revenue
$5,000.0 $500.0
$590.3
post JLG acquisition $4,000.0 $400.0
$3,427.4
$2,959.9
$3,000.0 $300.0
• Innovative new product offerings $325.9
$2,262.3
$267.2
$1,926.0
$2,000.0 $200.0
• Strengthened operating team $180.4
$1,000.0 $100.0
$129.2
• Outstanding performance from $0.0 $0.0
2003 2004 2005 2006 2007
JLG acquisition Sales Revenue Operating Income
• Continuing to work on JLG
integration
3
November 1, 2007

4. Access Equipment
• Continued strength in
international markets,
particularly for aerial work
platforms
• Strong North American aerial
work platform business, but
softer telehandler business
• Increased operating income
margin
4
November 1, 2007

5. Defense
• Continued strong performance
driven by tactical vehicle needs
• Solid visibility for fiscal 2008
supported by high levels of
funding from recent budgets
and supplementals
• LVSR production ramping up
• Delivered Bull™ MRAP II
vehicles for evaluation and
testing
Bull™ is a trademark of Ideal Innovations, Inc.
5
November 1, 2007

6. Fire & Emergency
• Airport products
performed well in Q4
• Industry-leading fire
apparatus maker Pierce
increased market share
• First commercial PUC
delivered to Miami-Dade
• Record year for Frontline
broadcast vehicles
6
November 1, 2007

7. Commercial
• Continued strong U.S. refuse
results
• Concrete placement sales declined
due to:
– Slowdown after 2007 engine
emissions pre-buy
– Challenging U.S. residential
construction market
• Initiated restructuring plan for
European refuse business, with
more actions expected in fiscal
2008
– Facility consolidation
– Headcount reduction
7
November 1, 2007

8. Consolidated Results
Dollars in millions, except per share amounts
Fourth Quarter
Comments
2006
2007
Net Sales $1,792.4 $904.4
• Access equipment
% Growth 98.2% 9.8% and defense led the
Operating Income $ 179.2 $ 76.6 way
% Margin 10.0% 8.5%
• JLG accretive to EPS
% Growth 134.1% 3.5%
by $0.54
Earnings Per Share $ 1.14 $ 0.66
• Debt reduced by
% Growth 72.7% 13.8%
$31.6 million
8
November 1, 2007

9. Access Equipment
Dollars in millions
Fourth Quarter
Comments
2006
2007
• Strength around the world
Net Sales $840.0 NA
% Growth N/A NA • Strong U.S. non-residential
construction helps offset
Operating Income $114.5 NA
soft telehandler market
% Margin 13.6% NA
• Backlog up 32.3%(1) over
% Growth N/A NA
prior year
(1) Compared to JLG stand-alone results.
9
November 1, 2007

10. Defense
Dollars in millions
Fourth Quarter
Comments
2006
2007
Net Sales $422.5 $328.6 • Reaping benefits of
production ramp-up in
% Growth 28.6% (7.4)%
FHTV requirements
Operating Income $ 72.4 $ 54.8
• Lower parts business
% Margin 17.1% 16.7%
during the quarter
% Growth 32.0% (13.2)%
• Backlog up 82.4% over
prior year
10
November 1, 2007

11. Fire & Emergency
Dollars in millions
Fourth Quarter
Comments
2006
2007
• Solid sales growth at
Net Sales $291.8 $268.4
Pierce and airport
% Growth 8.7% 27.0% products
Operating Income $ 26.3 $ 21.4 • Improved performance
at Medtec
% Margin 9.0% 8.0%
• Backlog down 10.2%
% Growth 22.8% 12.6%
11
November 1, 2007

12. Commercial
Dollars in millions
Fourth Quarter
Comments
2006
2007
• Continued weak concrete
Net Sales $249.6 $319.1
mixer demand, as
% Growth (21.8)% 19.7%
expected
Operating Income $ (3.1) $ 17.2
• U.S. refuse sales up 5.6%
% Margin (1.2)% 5.4% • GNG facility rationalization
charges of $4.8 million
% Growth (118.0)% 278.4%
• Backlog down 54.3%
12
November 1, 2007

13. Oshkosh Fiscal 2008 Estimates
Sales of $7.1 to $7.3 billion
Expectations:
• Access equipment sales to
increase about 20%
• Defense sales to grow
20% to 25%
• Fire & emergency sales to
increase 5% to 10%
• Commercial sales to decline
slightly
13
November 1, 2007

14. Oshkosh Fiscal 2008 Estimates
Operating Income of $690 to $715 Million
Expectations:
• Access equipment margins to improve
by 150 to 200 bps
• Defense margins to decline by 200 to
250 bps
• Fire & emergency margins to improve
by 50 to 100 bps
• Commercial margins to decline slightly
• Corporate expense to increase by
approximately $30 million
14
November 1, 2007

15. Oshkosh Fiscal 2008 Estimates
Other Estimates
Fiscal
2008
Estimates
Interest expense and other $215 to $225 million (expense)
Effective tax rate 34.0%
Equity in earnings $3.5 to $4.0 million (income)
Average shares outstanding 76,500,000
15
November 1, 2007

16. Oshkosh Fiscal 2008 Estimates
• Estimated annual EPS range of
$4.15 to $4.35
• Q1 EPS estimate of $0.35
to $0.40
– Seasonally weak quarter
– Difficult comparison due to
prior year engine emissions
related pre-buy
• Anticipated capital spending of
approximately $110 million
• Debt expected to be
approximately $2.65 to $2.75
billion by September 30, 2008
16
November 1, 2007

17. Q4 2007 Summary
• Strong global outlook in access equipment
• Good visibility in defense, with margins moving
into lower, more sustainable range
• Positive outlook for market share gains with Pierce
• Commercial segment faces headwinds in fiscal
2008, but looks better in fiscal 2009 ahead of 2010
engine emissions standards changes
• Complementary business segments underscore
Oshkosh Truck’s winning strategy
17
November 1, 2007

18. 18
November 1, 2007