Hinowa Acquisition Complete, Now Part of JLG

McConnellsburg, PA (January 31, 2023) – JLG Industries, Inc., an Oshkosh Corporation company [NYSE: OSK] and a leading global manufacturer of mobile elevating work platforms (MEWPs) and telehandlers, has completed its acquisition of Hinowa® S.p.A., adding the market-leading brand to the company's Access segment. This expansion of the JLG® product portfolio enables the company to strengthen its specialty applications offerings and increase its presence in niche industries, including agricultural, landscape and vegetation management.

Founded in 1987 in Nogara, Italy, Hinowa became well-known in the industry for its innovative track designs and as an early adopter and leader in the advancement of lithium-ion battery technology in mobile elevating work platforms (MEWPs). Hinowa's 200+ team members and two facilities, a 250,000 sq. ft. manufacturing facility and a 50,000 sq. ft. parts facility, are now part of the Oshkosh Corporation Access segment, and the Hinowa brand will be retained on its well-respected line of track-based aerial work platforms, mini dumpers, lift trucks and undercarriages products. JLG-branded compact crawler booms, which Hinowa has produced since 2010 and includes electric-, hybrid- and diesel-powered models, will continue to be offered.

"The acquisition was about growing the company and growing our capabilities," says Frank Nerenhausen, Oshkosh executive vice president and JLG president. "JLG and Hinowa are both strong brands. Joining forces allows us to unlock more potential globally. This is a very positive time for the business, and we are excited to welcome the Hinowa team to the JLG family."

Hinowa's products, including a JLG-branded compact crawler boom lift, will be on display in booth #W44066 at CONEXPO-CON/AGG 2023 in Las Vegas, NV, March 14-18.

For more information on JLG® products and services, visit JLG.com.

###

About JLG

JLG Industries, Inc. is a world-leading designer, manufacturer, and marketer of access equipment. The Company’s diverse product portfolio includes leading brands such as JLG^® mobile elevating work platforms; JLG^® and SkyTrak^® telehandlers and rotary telehandlers; and an array of complementary accessories that can increase the versatility and efficiency of these products. JLG is an Oshkosh Corporation business [NYSE: OSK]. For more information about JLG Industries, Inc., visit www.jlg.com, or find us on LinkedIn, Instagram, Facebook and YouTube.

About Oshkosh Corporation

At Oshkosh (NYSE: OSK), we make innovative, purpose-built vehicles and equipment to help everyday heroes advance communities around the world. Headquartered in Wisconsin, Oshkosh Corporation employs over 18,000 team members worldwide, all united behind a common purpose: to make a difference in people’s lives. Oshkosh products can be found in more than 150 countries under the brands of JLG^®, Pierce^®, MAXIMETAL, Oshkosh^® S-Series^™, McNeilus^®, IMT^®, Jerr-Dan^®, Frontline^™ Communications, Oshkosh^® Airport Products, Oshkosh AeroTech^™, Oshkosh^® Defense and Pratt Miller. For more information, visit oshkoshcorp.com. ^®, ^™ All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.

Forward Looking Statements

This news release contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Company’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. When used in this news release, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project,” “confident” or “plan” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the possibility that the parties will fail to obtain necessary regulatory approvals or to satisfy any of the other conditions to the proposed transaction; potential negative effects relating to the announcement of the proposed transaction; failure to realize the expected benefits of the transaction or expected synergies; difficulties in predicting results of operations of an acquired business; the cyclical nature of the Company’s access equipment, fire apparatus, refuse and recycling collection and air transportation equipment markets, which are particularly impacted by the strength of U.S. and European economies and construction seasons; the Company’s estimates of access equipment demand which, among other factors, is influenced by historical customer buying patterns and rental company fleet replacement strategies; the strength of the U.S. dollar and its impact on Company exports, translation of foreign sales and the cost of purchased materials; risks related to the collectability of receivables, particularly for those businesses with exposure to construction markets; risks associated with international operations and sales, including compliance with the Foreign Corrupt Practices Act; and risks related to the Company’s ability to successfully execute on its strategic road map and meet its long-term financial goals and other risks, uncertainties, assumptions and other factors impacting future results of the Company.