OSHKOSH CORP

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549​

SCHEDULE 14A​

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Oshkosh Corporation

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Dear Fellow Oshkosh Corporation

Shareholder

March 28, 2024

Oshkosh delivered strong performance in 2023 as we executed our “Innovate. Serve. Advance.” strategy. Despite supply chain constraints affecting companies across the globe as well as tight labor conditions, strong demand combined with our focus on pricing discipline and operational efficiency enabled us to deliver revenue of $9.7 billion and diluted earnings per share of $9.08, representing increases of 17% and 245%, respectively, compared to 2022.

Oshkosh is committed to innovation. We introduced our McNeilus® Volterra™ ZSL™, North America’s first fully integrated, zero-emission electric refuse and recycling collection vehicle, in 2023. Our battery powered electric Striker® Volterra™ airport rescue and firefighting vehicle and our electric Pierce® Volterra™ fire truck continue to gain traction and demonstrate customer value in the field. We also expect to deliver the first production Next Generation Delivery Vehicles to the United States Postal Service in 2024 as we transform America’s largest last mile delivery fleet over the next decade. We are continuing to invest in next-generation technology in the areas of electrification, autonomy, active safety and intelligent products such as our ClearSky™ connected telematics platform.

Oshkosh’s strong balance sheet enabled us to allocate significant capital to strategic acquisitions in 2023. We completed the acquisition of JBT Corporation’s AeroTech business, the second largest acquisition in Oshkosh history. AeroTech is a market leader in the growing air transportation support sector. AeroTech offers aviation ground support products and gate equipment as well as an attractive recurring revenue stream from its substantial airport services offerings. We also completed the acquisition of Hinowa S.p.A., an international manufacturer of track-based aerial work platforms, mini dumpers, lift trucks and undercarriages, which is respected as an electrification leader and early adopter of lithium-ion battery technology. Hinowa advances Oshkosh’s leadership in specialty applications and increases our presence in niche industries including agricultural, landscape and vegetation management.

In 2023, Oshkosh was honored to be named one of Fortune’s Most Admired Companies and one of the Ethisphere Institute’s World’s Most Ethical Companies for the sixth and eighth consecutive times, respectively. We were also named to the Dow Jones Sustainability World Index for the fifth consecutive year, earned the Equality 100 Award from the Human Rights Campaign and received numerous other accolades for our sustainability, ethics, diversity and inclusion and technology efforts.

With record backlog of $16.8 billion at December 31, 2023 and strong market fundamentals, we expect continued growth in 2024 and beyond. We believe Oshkosh’s commitment to attracting, retaining and developing diverse talent, our strong balance sheet and our investments in capacity and technology for future products have positioned us to deliver strong shareholder value well into the future.

On behalf of the Board and our approximately 17,300 Oshkosh Corporation team members, thank you for your continued support of, and confidence in, Oshkosh Corporation.

Sincerely,