Demand-driven capacity expansion opportunity
• Delivering operational efficiencies to offer improved throughput in our current footprint, while making prudent investments to enable us to execute on our robust backlog and capitalize on market dynamics • Expanding production capacity is a key contributor to 20-30% segment revenue growth from 2025 to 2028
$ in billions Vocational backlog at Dec. 31
Strong market dynamics
Accelerating Digital Manufacturing and Industry 4.0 Initiatives Pictured: high flow final assembly line
$6.3
Aging fleet replacement
$5.5
Investing in Automation and Advanced Equipment Pictured: robotic painting
$3.5
Healthy municipal funding and infrastructure spend
Record high
Leveraging Design for Manufacturing Opportunities Pictured: CAD pumphouse
Strong global air travel/ cargo growth
2023 (1)
2022
2024
(1) Includes $0.8 billion acquired in Oshkosh AeroTech acquisition.
Prudently expanding capacity to capture significant growth opportunities across end markets
9
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