Oshkosh Awarded $1.54 Billion FHTV V Follow-On Contract

OSHKOSH, Wis.--(BUSINESS WIRE)-- Oshkosh Defense, LLC, an Oshkosh Corporation (NYSE: OSK) company, announced today that U.S. Army Contracting Command - Detroit Arsenal (ACC-DTA) awarded a five-year, Fixed Price with Economic Price Adjustment Requirements contract for the Family of Heavy Tactical Vehicles (FHTV) V program. Based on evaluated quantities, the requirements contract is estimated at $1.54 billion and allows Oshkosh to continue delivering new and recapitalized Heavy Tactical Vehicles and associated trailers into 2031.

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The Oshkosh FHTV fleet includes the Heavy Expanded Mobility Tactical Truck (HEMTT A4), Palletized Load System (PLS A1), PLS Trailer, and Heavy Equipment Transporter (HET A1). Adaptability is key to these heavy platforms providing the payload, protection, and mobility to support combat formations in the most demanding environments. To date, Oshkosh has produced more than 71,000 modernized heavy tactical vehicles and trailers for the U.S. military and its allied nations.

"We are extremely honored that the U.S. Army continues to invest in the proven Oshkosh Family of Heavy Tactical Vehicles (FHTV)," said Pat Williams, chief programs officer at Oshkosh Defense. "Our continued collaboration with the Army ensures that we deliver exceptional, high-performance vehicles with the latest technologies and active safety features."

Oshkosh will integrate enhanced capabilities into the FHTV fleet through cost-effective and targeted upgrades to modernize the fleet, extend vehicle life, and reduce operating costs. The advanced architecture of the FHTV allows for seamless integration of additional features, such as drive by wire capability, Condition Based Maintenance (CBM), electrification, export power, fuel efficiency and demand reduction modifications.

"The evolution of the FHTV through technical insertions and recapitalization is a testament to our innovation and focus on increased capabilities," continued Williams. "By integrating new technologies into the FHTV fleet, we are not only enhancing operational efficiency but also future proofing our vehicles to meet the evolving needs of the Warfighter."

In June 2024, as part of the FHTV IV contract extension, the Army awarded a number of contract modifications valued at $231.9 million order for modernized trucks, kits and kit installs. The Army can begin buying vehicles on the FHTV V contract in August 2024.

About Oshkosh Defense

Oshkosh Defense is a global leader in the design, production and sustainment of best-in-class military vehicles, technology solutions and mobility systems. Oshkosh develops and applies emerging technologies that advance safety and mission success. Setting the industry standard for sustaining fleet readiness, Oshkosh ensures every solution is supported worldwide throughout its entire life cycle.

Oshkosh Defense, LLC is an Oshkosh Corporation business [NYSE: OSK]. Learn more about Oshkosh Defense at www.oshkoshdefense.com.

About Oshkosh Corporation

At Oshkosh (NYSE: OSK), we make innovative, mission-critical 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®, Hinowa, Power Towers, Pierce®, MAXIMETAL, Oshkosh® Defense, McNeilus®, IMT®, Jerr-Dan®, Frontline™ Communications, Oshkosh® Airport Products, Oshkosh AeroTech™ 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" 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 risks related to the Company's ability to successfully execute on its strategic road map and meet its long-term financial goals. Additional information concerning these and other factors is contained in the Company's filings with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this news release. The Company assumes no obligation, and disclaims any obligation, to update information contained in this news release. Investors should be aware that the Company may not update such information until the Company's next quarterly earnings conference call, if at all.

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Alexandra Hittle, Director, Global Marketing & Communications
920-410-1929
[email protected]

Source: Oshkosh Corporation