Oshkosh : 2023 TCFD Report Index

Powering innovation.

Committed to sustainable growth.

OSHKOSH CORPORATION | 2023 TCFD REPORT

Committed to protecting our environment

Here at Oshkosh, sustainability is extremely important to our shareholders, customers, team members and the communities in which we live and work. Oshkosh is reporting under the Task Force on Climate-related Financial Disclosures (TCFD) standards to connect investors to climate-related financial information. All data shared is for fiscal year 2023 unless otherwise noted.

Table of contents

GOVERNANCE

Page 2-3

STRATEGY

Page 4-7

RISK MANAGEMENT

Page 8-9

METRICS AND TARGETS

Page 10

OSHKOSH CORPORATION | 2023 TCFD REPORT

OSHKOSH CORPORATION | 2023 TCFD REPORT

Governance

Disclose the organization's governance around climate-related risks and opportunities.

Recommended disclosure

Describe the board's oversight of climate-related risks and opportunities.

Comment/disclosure

Sustainability and climate change risk oversight is a formal responsibility of our Board of Directors' Corporate Governance Committee. The Committee reviews and approves the strategic direction for Oshkosh Corporation's sustainability approach and is responsible for overseeing climate-related issues and overseeing our carbon footprint and environmental, health and safety performance. The Committee monitors the social, political, environmental, public policy, legislative and regulatory trends, issues and concerns that could affect the Company's sustainability models, processes, resources, activities, strategies and other capabilities. From time to time as the Governance Committee determines it to be necessary or appropriate, the Committee makes recommendations to the Board of Directors and management regarding how the Company should respond to such trends, issues and concerns to more effectively achieve the Company's sustainability goals. The VP, Chief Ethics, Compliance and Sustainability Officer engages with the committee at least twice a year regarding the Company's sustainability performance against defined objectives. The Board receives a report quarterly that contains sustainability information including greenhouse gas performance and progress towards climate targets.

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OSHKOSH CORPORATION | 2023 TCFD REPORT

Governance

Disclose the organization's governance around climate-related risks and opportunities.

Recommended disclosure

Describe the board's oversight of climate-related risks and opportunities.

Comment/disclosure

The CEO at Oshkosh takes an active role in all facets of climate-related issues including, but not limited to, strategy, operations, supply chain and new product development. Within the Oshkosh Leadership Team (OLT) that directly reports to the CEO, the EVP & Chief Legal Officer has responsibility for the sustainability function and leads the process of assessing and managing climate-related risks and opportunities. Twice a year, the EVP & Chief Legal Officer, along with the VP, Chief Ethics, Compliance and Sustainability Officer, provides updates to the Board on climate-related issues. The presidents of each of our business units are apprised of climate-related metrics by senior environmental managers quarterly in business reviews.

In addition, the EVP, Chief Technology and Strategic Sourcing Officer is responsible for all aspects of the Company's technology and innovation including sustainability related activities. She, with assistance from the VP, Chief Ethics, Compliance and Sustainability Officer, works

with business leadership teams to accelerate global innovation and technology-led growth strategies while considering climate-related risks and opportunities.

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OSHKOSH CORPORATION | 2023 TCFD REPORT

Strategy

Recommended disclosure

Comment/disclosure

Disclose the actual and potential impacts of climate-related risks and opportunities on the organization's businesses, strategy and financial planning where such information is material.

Describe the climate-related risks and opportunities the organization has identified over the short, medium and long term.

Short term: 1-2 years

Medium term: 3-5 years

Long term: 5+ years

Short-term opportunity: Upgrade aging infrastructure and technologies in existing facilities to reduce resource consumption and operating costs. We continue to improve our energy management efforts through participating in the U.S. Department of Energy's Better Plants Program by leveraging the resources and expertise of this as we work to achieve our energy and associated greenhouse gas (GHG) emission reduction goals. In 2022, The Virtual Power Purchase Agreement (VPPA) we entered went live to support obtaining associated Renewable Energy Certificates (REC). In 2023, the VPPA generated 52,199 renewable energy certificates reducing scope 2 market-based emissions and supporting the renewable energy market.

Medium-term opportunity: Oshkosh Corporation has partnered with the U.S. Department of Energy's Onsite Energy Technical Assistance Program to evaluate energy efficiency and renewable energy solutions at our facilities.

Medium Term Risk: Organizational growth could lead to increased GHG emissions.

Medium-term opportunity: Incorporate renewable energy solutions identified by the U.S. DOE Technical Assistance Program to support our scope 2 emission reduction in alignment with the reduction requirements of the Science Based Target Initiative, lower dependency on fossil fuels by updating aging infrastructure, advancing the manufacturing capabilities through automation to improve energy efficiency, product safety, quality and reliability along with employee safety.

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OSHKOSH CORPORATION | 2023 TCFD REPORT

Strategy

Recommended disclosure

Comment/disclosure

Disclose the actual and potential impacts of climate-related risks and opportunities on the organization's businesses, strategy and financial planning where such information is material.

Describe the climate-related risks and opportunities the organization has identified over the short, medium and long term.

Short term: 1-2 years

Medium term: 3-5 years

Long term: 5+ years

Long-term opportunity: Oshkosh Corporation signed the Business Ambition for 1.5°C pledge in 2022, joining other leading companies committing to set science-based emissions reduction targets in line with limiting global warming to 1.5°C above preindustrial levels. The commitment to setting science-based targets in 2024 will accelerate the transition to a lower carbon model. We are developing specific plans to reduce our GHG in our operations and products. In all our product lines, we currently offer or have in development alternative powertrains, including fully electric, hybrid and compressed natural gas solutions that significantly reduce the carbon footprint of our products.

Long-term risk: Physical change and extreme variability in weather patterns could result in operational limitations.

The potential for inadequate water supplies in the long term brought about by changing weather patterns could lead to operational disruptions or increased capital expenditures, especially in certain areas that already are experiencing water supply constraints. Also, the increased frequency of violent storms could lead to property damage and business continuity issues. Increased temperatures could also have an impact on workforce productivity.

Our Sustainability Team works closely with our Enterprise Risk Advisory Team (ERAT). The ERAT consults legal, engineering, investor relations and treasury to understand the Company's exposure to climate-related risk in areas including current and emerging regulation, research

and development and reputation. These risks and opportunities are evaluated as part of our overall risk management process, discussed in further detail in the risk management section.

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OSHKOSH CORPORATION | 2023 TCFD REPORT

Strategy

Disclose the actual and potential impacts of climate-related risks and opportunities on the organization's businesses, strategy and financial planning where such information is material.

Recommended disclosure

Describe the impact of climate related risks and opportunities on the organization's businesses, strategy and financial planning.

Comment/disclosure

Business areas influenced by climate-related risks and opportunities:

Products and Services: In all our product lines, we currently offer or are developing alternative powertrains, including fully electric, hybrid and compressed natural gas solutions that significantly reduce the carbon footprint of our products.

Investment in R&D: Across multiple Research and Development (R&D) facilities, we have more than 1,800 product developers focused on product innovation and design process improvements. Significant strides in electrification and sustainability have been made, with a planned investment of $300 million in electrification from 2022 to 2025. We're at the forefront of developing purpose-built vehicles and equipment with zero emissions, including North America's first electric refuse collection vehicle.

Operations: Reducing our energy consumption and GHG emissions is part of our strategy for reducing our impacts on climate change and maximizing the efficiency of our operations. We've identified energy use and associated emissions as a near-termclimate-related risk to our business that we are working to address. We use a variety of strategies to reduce our energy consumption and GHG emissions, including lighting upgrades, compressed air audits and leak repair, improved insulation and building maintenance and installing building control systems.

Financial Planning: Oshkosh Corporation has made several significant strategic investments to expand our electrification capabilities, which will better position us in a world transitioning to a low-carbon economy. Recent acquisitions have advanced our technologies in mobility algorithms and battery technologies to support longer run times between charges. We have also invested in upgrading our manufacturing facilities to meet energy reduction targets.

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OSHKOSH CORPORATION | 2023 TCFD REPORT

Strategy

Recommended disclosure

Comment/disclosure

Disclose the actual and potential impacts of climate-related risks and opportunities on the organization's businesses, strategy and financial planning where such information is material.

Describe the resilience of the organization's strategy, taking into consideration different climate related scenarios, including a 2°C or lower scenario.

Oshkosh leverages scenario analysis and other tools to evaluate different future potential outcomes when evaluating its organizational strategy. The value of this type of analysis ensures that we are considering the possible trends that could impact the business as we move to a longer-term outlook. Oshkosh uses a group of external experts and information sources to monitor megatrends that could affect our organization to help confirm the resilience of our business strategy. Sustainability and decarbonization are among the trends monitored, reported on and considered.

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OSHKOSH CORPORATION | 2023 TCFD REPORT

Risk management

Disclose how the organization identifies, assesses and manages climate-related risks.

Recommended disclosure

Describe the organization's processes for identifying and assessing climate-related risks.

Comment/disclosure

Oshkosh's VP of Risk Management is fully dedicated to risk management at Oshkosh and supports executive leadership as well as Oshkosh's Board and ERAT. The ERAT, consisting of representatives from operations, finance, legal, supply chain, engineering and strategy, is responsible for overseeing the Company's management of enterprise-level risks, including climate-related risks such as climate-related policies and regulations that can impact our products, services and operations. Risks and opportunities are identified and addressed annually. Oshkosh bases its approach to risk managment on the COSO framwork, an iterative process that focuses on the effective mitigation of key threats and execution of opportunities. Based on this process, formal mitigation plans are developed, implemented and monitored by the ERAT.

Exposure to and experience with catastrophic risks or losses from climate change or other natural events, such as wind, flooding. hail or winter storm events are analyzed and reviewed for ongoing operations and when evaluating new sites and supplier selection. This analysis is incorporated into future site planning, supplier selection processes and risk mitigation and strategic development.

Oshkosh takes a primarily qualitative approach to assessing risks related to climate. The process for assessing relative significance of all identified risks, including climate-related risks, is as follows: (i) Risks and opportunities are categorized based on probability and impact on financial performance, operations, reputation, etc. (ii) All top risks have approved mitigation plans and are reviewed regularly by the OLT and the Board. (iii) All other risks have either approved mitigation plans and are reviewed at least once a year by the executive leadership team, or after being fully analyzed, are put on a "watch list" and are monitored by the risk department.

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OSHKOSH CORPORATION | 2023 TCFD REPORT

Risk management

Disclose how the organization identifies, assesses and manages climate-related risks.

Recommended disclosure

Describe the organization's processes for managing climate- related risks.

Comment/disclosure

Oshkosh is responding to physical climate change risk by continuing our investment in building and maintaining resilient operations and supply chains, while focusing on crisis management planning to mitigate the impact of any unforeseen climate-related events. To address risks related to energy use, we employ strategies such as upgrades to lighting, HVAC controls and other equipment, as well as investment in renewable energy, including a micro-grid in Wisconsin. Risks associated with the transition of our products away from fossil fuel usage are addressed in our strategy planning process, which includes efforts to limit emissions and drive innovation around alternative fuel sources such as electrification.

Describe how processes for identifying, assessing and managing climate-related risks are integrated into the organization's overall risk management.

We develop annual energy reduction targets at a global, regional and facility level and include the reduction strategies in our annual business planning process. Each month data is collected by site on energy use performance, which is compared to target. If targets are not met, countermeasures are developed to address shortfalls. Additionally, Oshkosh's risk management process evaluates climate change issues such as regulatory changes and changing consumer behaviors. These risks are discussed with our Board of Directors and OLT.

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