Separate Financial Information of Subsidiary Guarantors of Indebtedness

The 2020 Senior Notes and the 2022 Senior Notes are jointly, severally, fully and unconditionally guaranteed on a senior unsecured basis by all of the Company’s wholly-owned existing and future subsidiaries that from time to time guarantee obligations under the Credit Agreement, with certain exceptions (the “Guarantors”). Under the Indentures governing the 2020 Senior Notes and 2022 Senior Notes, a Guarantor’s guarantee of such Senior Notes will be automatically and unconditionally released and will terminate upon the following customary circumstances: (i) the sale of such Guarantor or substantially all of the assets of such Guarantor if such sale complies with the indenture; (ii) if such Guarantor no longer guarantees certain other indebtedness of the Company; or (iii) the defeasance or satisfaction and discharge of the indenture. The following condensed supplemental consolidating financial information reflects the summarized financial information of Oshkosh, the Guarantors on a combined basis and Oshkosh’s non-guarantor subsidiaries on a combined basis (in millions):

Condensed Consolidating Statement of Income and Comprehensive Income

For the Three Months Ended March 31, 2014



	Oshkosh Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
Net sales	$	524.8		$	907.5		$	269.5		$	(23.9	)	$	1,677.9
Cost of sales	470.6			723.7			216.0			(23.6		)	1,386.7
Gross income	54.2			183.8			53.5			(0.3		)	291.2
Selling, general and administrative expenses	58.4			78.2			21.4			—			158.0
Amortization of purchased intangibles	0.1			9.9			3.8			—			13.8
Operating income (loss)	(4.3		)	95.7			28.3			(0.3		)	119.4
Interest expense	(71.2		)	(12.1		)	(0.7		)	57.0			(27.0		)
Interest income	0.7			14.5			42.3			(57.0		)	0.5
Miscellaneous, net	11.2			(39.9		)	29.2			—			0.5
Income (loss) from continuing operations before income taxes	(63.6		)	58.2			99.1			(0.3		)	93.4
Provision for (benefit from) income taxes	(25.8		)	23.7			25.1			(0.1		)	22.9
Income (loss) from continuing operations before equity in earnings of affiliates	(37.8		)	34.5			74.0			(0.2		)	70.5
Equity in earnings of consolidated subsidiaries	109.3			35.1			36.9			(181.3		)	—
Equity in earnings of unconsolidated affiliates	—			—			1.0			—			1.0
Income from continuing operations	71.5			69.6			111.9			(181.5		)	71.5
Discontinued operations, net of tax	—			—			—			—			—
Net income	71.5			69.6			111.9			(181.5		)	71.5
Other comprehensive income (loss), net of tax	2.8			1.4			1.1			(2.5		)	2.8
Comprehensive income	$	74.3		$	71.0		$	113.0		$	(184.0	)	$	74.3

Condensed Consolidating Statement of Income and Comprehensive Income

For the Three Months Ended March 31, 2013



	Oshkosh Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
Net sales	$	863.3		$	908.0		$	250.5		$	(37.4	)	$	1,984.4
Cost of sales	771.2			723.2			224.0			(37.4		)	1,681.0
Gross income	92.1			184.8			26.5			—			303.4
Selling, general and administrative expenses	64.0			82.8			7.5			—			154.3
Amortization of purchased intangibles	—			10.0			4.5			—			14.5
Operating income (loss)	28.1			92.0			14.5			—			134.6
Interest expense	(50.7		)	(14.0		)	(0.8		)	49.1			(16.4		)
Interest income	0.6			9.1			41.1			(49.1		)	1.7
Miscellaneous, net	12.2			(37.4		)	25.3			—			0.1
Income (loss) from continuing operations before income taxes	(9.8		)	49.7			80.1			—			120.0
Provision for (benefit from) income taxes	(3.0		)	15.4			22.4			—			34.8
Income (loss) from continuing operations before equity in earnings of affiliates	(6.8		)	34.3			57.7			—			85.2
Equity in earnings of consolidated subsidiaries	93.3			28.5			34.8			(156.6		)	—
Equity in earnings of unconsolidated affiliates	—			—			0.7			—			0.7
Income from continuing operations	86.5			62.8			93.2			(156.6		)	85.9
Discontinued operations, net of tax	—			0.6			—			—			0.6
Net income	86.5			63.4			93.2			(156.6		)	86.5
Other comprehensive income (loss), net of tax	(9.0		)	0.1			(10.1		)	10.0			(9.0		)
Comprehensive income	$	77.5		$	63.5		$	83.1		$	(146.6	)	$	77.5

Condensed Consolidating Statement of Income and Comprehensive Income

For the Six Months Ended March 31, 2014



	Oshkosh Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
Net sales	$	1,051.3		$	1,725.0		$	477.4		$	(45.6	)	$	3,208.1
Cost of sales	948.1			1,382.0			377.0			(45.3		)	2,661.8
Gross income	103.2			343.0			100.4			(0.3		)	546.3
Selling, general and administrative expenses	119.5			134.6			48.6			—			302.7
Amortization of purchased intangibles	0.2			19.8			7.7			—			27.7
Operating income (loss)	(16.5		)	188.6			44.1			(0.3		)	215.9
Interest expense	(131.6		)	(24.5		)	(1.6		)	114.5			(43.2		)
Interest income	1.5			29.1			84.9			(114.5		)	1.0
Miscellaneous, net	20.8			(69.3		)	47.3			—			(1.2		)
Income (loss) from continuing operations before income taxes	(125.8		)	123.9			174.7			(0.3		)	172.5
Provision for (benefit from) income taxes	(45.0		)	45.3			47.4			(0.1		)	47.6
Income (loss) from continuing operations before equity in earnings of affiliates	(80.8		)	78.6			127.3			(0.2		)	124.9
Equity in earnings of consolidated subsidiaries	207.2			51.3			79.3			(337.8		)	—
Equity in earnings of unconsolidated affiliates	—			—			1.5			—			1.5
Income from continuing operations	126.4			129.9			208.1			(338.0		)	126.4
Discontinued operations, net of tax	—			—			—			—			—
Net income	126.4			129.9			208.1			(338.0		)	126.4
Other comprehensive income (loss), net of tax	6.7			(0.3		)	6.5			(6.2		)	6.7
Comprehensive income	$	133.1		$	129.6		$	214.6		$	(344.2	)	$	133.1

Condensed Consolidating Statement of Income and Comprehensive Income

For the Six Months Ended March 31, 2013



	Oshkosh Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
Net sales	$	1,721.7		$	1,639.5		$	440.7		$	(67.7	)	$	3,734.2
Cost of sales	1,540.4			1,320.3			391.7			(67.6		)	3,184.8
Gross income	181.3			319.2			49.0			(0.1		)	549.4
Selling, general and administrative expenses	135.8			156.8			13.0			—			305.6
Amortization of purchased intangibles	0.1			19.9			8.9			—			28.9
Operating income (loss)	45.4			142.5			27.1			(0.1		)	214.9
Interest expense	(101.5		)	(28.0		)	(1.9		)	98.6			(32.8		)
Interest income	1.2			19.1			82.5			(98.6		)	4.2
Miscellaneous, net	21.3			(65.1		)	44.2			—			0.4
Income (loss) from continuing operations before income taxes	(33.6		)	68.5			151.9			(0.1		)	186.7
Provision for (benefit from) income taxes	(10.4		)	21.3			44.9			—			55.8
Income (loss) from continuing operations before equity in earnings of affiliates	(23.2		)	47.2			107.0			(0.1		)	130.9
Equity in earnings of consolidated subsidiaries	156.2			45.5			46.6			(248.3		)	—
Equity in earnings of unconsolidated affiliates	—			—			1.3			—			1.3
Income from continuing operations	133.0			92.7			154.9			(248.4		)	132.2
Discontinued operations, net of tax	—			0.8			—			—			0.8
Net income	133.0			93.5			154.9			(248.4		)	133.0
Other comprehensive income (loss), net of tax	0.6			0.1			(1.5		)	1.4			0.6
Comprehensive income	$	133.6		$	93.6		$	153.4		$	(247.0	)	$	133.6

Condensed Consolidating Balance Sheet

As of March 31, 2014



	Oshkosh Corporation		Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Total
Assets
Current assets:
Cash and cash equivalents	$	392.0	$	5.4		$	22.6	$	—		$	420.0
Receivables, net	241.9		592.9			200.0		(48.5		)	986.3
Inventories, net	161.2		452.6			299.3		—			913.1
Other current assets	84.7		52.7			20.9		—			158.3
Total current assets	879.8		1,103.6			542.8		(48.5		)	2,477.7
Investment in and advances to consolidated subsidiaries	2,487.5		(687.2		)	3,617.2		(5,417.5		)	—
Intangible assets, net	2.1		1,047.6			682.0		—			1,731.7
Other long-term assets	181.9		149.7			143.0		—			474.6
Total assets	$	3,551.3	$	1,613.7		$	4,985.0	$	(5,466.0	)	$	4,684.0

Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable	$	210.3	$	317.6		$	121.9	$	(41.6	)	$	608.2
Customer advances	77.3		237.9			2.4		—			317.6
Other current liabilities	139.7		160.1			95.7		(6.9		)	388.6
Total current liabilities	427.3		715.6			220.0		(48.5		)	1,314.4
Long-term debt, less current maturities	885.0		—			—		—			885.0
Other long-term liabilities	126.2		119.9			125.7		—			371.8
Shareholders' equity	2,112.8		778.2			4,639.3		(5,417.5		)	2,112.8
Total liabilities and shareholders' equity	$	3,551.3	$	1,613.7		$	4,985.0	$	(5,466.0	)	$	4,684.0

Condensed Consolidating Balance Sheet

As of September 30, 2013



	Oshkosh Corporation		Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Total
Assets
Current assets:
Cash and cash equivalents	$	711.7	$	2.7		$	19.1	$	—		$	733.5
Receivables, net	200.9		452.8			180.8		(40.2		)	794.3
Inventories, net	195.3		391.3			236.5		(1.1		)	822.0
Other current assets	130.7		52.1			20.5		0.3			203.6
Total current assets	1,238.6		898.9			456.9		(41.0		)	2,553.4
Investment in and advances to consolidated subsidiaries	2,188.2		(594.0		)	3,479.2		(5,073.4		)	—
Intangible assets, net	2.2		1,067.6			685.9		—			1,755.7
Other long-term assets	168.7		153.0			134.9		—			456.6
Total assets	$	3,597.7	$	1,525.5		$	4,756.9	$	(5,114.4	)	$	4,765.7

Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable	$	216.9	$	256.6		$	90.9	$	(32.7	)	$	531.7
Customer advances	69.8		221.3			3.3		—			294.4
Other current liabilities	191.1		270.4			101.4		(8.3		)	554.6
Total current liabilities	477.8		748.3			195.6		(41.0		)	1,380.7
Long-term debt, less current maturities	890.0		—			—		—			890.0
Other long-term liabilities	122.1		125.5			139.6		—			387.2
Shareholders' equity	2,107.8		651.7			4,421.7		(5,073.4		)	2,107.8
Total liabilities and shareholders' equity	$	3,597.7	$	1,525.5		$	4,756.9	$	(5,114.4	)	$	4,765.7

Condensed Consolidating Statement of Cash Flows

For the Six Months Ended March 31, 2014



	Oshkosh Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
Net cash provided (used) by operating activities	$	(1.9	)	$	(129.1	)	$	76.7		$	—		$	(54.3	)

Investing activities:
Additions to property, plant and equipment	(18.0		)	(11.2		)	(7.2		)	—			(36.4		)
Additions to equipment held for rental	—			—			(11.0		)	—			(11.0		)
Contribution to rabbi trust	(1.9		)	—			—			—			(1.9		)
Proceeds from sale of equipment held for rental	—			—			2.7			—			2.7
Intercompany investing	(84.9		)	156.1			(57.7		)	(13.5		)	—
Other investing activities	(0.5		)	—			0.1			—			(0.4		)
Net cash provided (used) by investing activities	(105.3		)	144.9			(73.1		)	(13.5		)	(47.0		)

Financing activities:
Repurchases of Common Stock	(152.8		)	—			—			—			(152.8		)
Repayment of long-term debt	(705.0		)	—			—			—			(705.0		)
Proceeds from the issuance of long-term debt	650.0			—			—			—			650.0
Debt issuance costs	(18.8		)	—			—			—			(18.8		)
Proceeds from exercise of stock options	33.6			—			—			—			33.6
Dividends paid	(25.4		)	—			—			—			(25.4		)
Excess tax benefit from stock-based compensation	6.5			—			—			—			6.5
Intercompany financing	(0.6		)	(13.0		)	0.1			13.5			—
Net cash provided (used) by financing activities	(212.5		)	(13.0		)	0.1			13.5			(211.9		)

Effect of exchange rate changes on cash	—			(0.1		)	(0.2		)	—			(0.3		)
Increase (decrease) in cash and cash equivalents	(319.7		)	2.7			3.5			—			(313.5		)
Cash and cash equivalents at beginning of period	711.7			2.7			19.1			—			733.5
Cash and cash equivalents at end of period	$	392.0		$	5.4		$	22.6		$	—		$	420.0

Condensed Consolidating Statement of Cash Flows

For the Six Months Ended March 31, 2013



	Oshkosh Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
Net cash provided (used) by operating activities	$	(114.1	)	$	33.4		$	125.1		$	—		$	44.4

Investing activities:
Additions to property, plant and equipment	(5.7		)	(5.3		)	(4.4		)	—			(15.4		)
Additions to equipment held for rental	—			—			(10.1		)	—			(10.1		)
Proceeds from sale of equipment held for rental	—			—			3.9			—			3.9
Intercompany investing	147.5			(10.7		)	(122.0		)	(14.8		)	—
Other investing activities	—			—			(3.3		)	—			(3.3		)
Net cash provided (used) by investing activities	141.8			(16.0		)	(135.9		)	(14.8		)	(24.9		)

Financing activities:
Repurchases of Common Stock	(125.1		)	—			—			—			(125.1		)
Proceeds from exercise of stock options	15.7			—			—			—			15.7
Excess tax benefit from stock-based compensation	0.8			—			—			—			0.8
Intercompany financing	(0.6		)	(13.0		)	(1.2		)	14.8			—
Net cash provided (used) by financing activities	(109.2		)	(13.0		)	(1.2		)	14.8			(108.6		)

Effect of exchange rate changes on cash	—			—			0.7			—			0.7
Increase (decrease) in cash and cash equivalents	(81.5		)	4.4			(11.3		)	—			(88.4		)
Cash and cash equivalents at beginning of period	500.0			5.5			35.2			—			540.7
Cash and cash equivalents at end of period	$	418.5		$	9.9		$	23.9		$	—		$	452.3