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SSAB Partners with McNeilus, Oshkosh to Build First Commercial Vehicles in U.S. with Fossil-Free Steel

McNeilus refuse collection vehicles chosen for first prototypes in manufacturing more environmentally sustainable severe-duty vehicles

DODGE CENTER, Minn.–(BUSINESS WIRE)–#GarbageTrucksMcNeilus Truck and Manufacturing, Inc., an Oshkosh Corporation (NYSE:OSK) company, is excited to announce a partnership with SSAB in fossil-free steel applications for severe-duty commercial vehicles. SSAB initiated this partnership with Oshkosh Corporation because of its reputation as a leading innovator of mission-critical vehicles and essential equipment, including McNeilus’ market-leading refuse collection vehicles.

The first use of this fossil-free steel will be to prototype advanced, environmentally sustainable McNeilus® refuse collection vehicles. Oshkosh Corporation and McNeilus are working together on future research and development initiatives across multiple commercial vehicle product lines.

“Creating a more sustainable future is central to our strategic vision,” said Brad Nelson, President of McNeilus Truck and Manufacturing and Senior Vice President of Oshkosh Corporation. “As a leader and innovator in the industries we serve, Oshkosh Corporation and McNeilus are proud to partner with SSAB on this global initiative as a next step in delivering high-performance, more sustainable products to our customers.”

“We are very happy to welcome Oshkosh Corporation and McNeilus into our partner group to be the first in the United States to prototype fossil-free steel in commercial and industrial vehicles,” says Martin Lindqvist, President and CEO at SSAB. “Demand for fossil-free steel continues to increase globally. This step confirms our commitments to mitigate global climate change, and collaboration with forward-thinking organizations around the world for industry-leading change is how it will happen.”

SSAB aims to deliver fossil-free steel to the market in commercial scale during 2026 and delivered the first steel made of hydrogen-reduced iron in 2021. SSAB works with iron ore producer LKAB and energy company Vattenfall in Sweden as part of the HYBRIT initiative to develop a value chain for fossil-free iron- and steel production, replacing coking coal traditionally needed for iron ore-based steelmaking, with fossil-free electricity and hydrogen. This process virtually eliminates carbon dioxide-emissions in steel production.

Sustainability efforts across McNeilus and Oshkosh Corporation include working to reduce the “use-phase” emissions of products through fuel efficiency, alternative fuels and electrification to help customers significantly reduce their carbon footprint and move industries forward.

About McNeilus

McNeilus Truck and Manufacturing is an industry leader in refuse truck bodies, OEM parts and customer support and service. Our lineup of front loaders, rear loaders and automated side loaders help you handle every route more efficiently. We offer a network of service centers and mobile service techs across the country, same-day parts availability, and a variety of alternative fuel systems and services for any refuse vehicle. Whatever your challenge, we’ve been down that route before. Visit: www.mcneiluscompanies.com/mcneilus-refuse/

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 approximately 15,000 team members worldwide, all united behind a common cause: to make a difference in people’s lives. Oshkosh products can be found in more than 150 countries under the brands of JLG®, Pierce®, Oshkosh® Defense, McNeilus®, IMT®, Jerr-Dan®, Frontline™, Oshkosh® Airport Products, London™ 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.

About SSAB

SSAB is a Nordic and US-based steel company. SSAB offers value added products and services developed in close cooperation with its customers to create a stronger, lighter and more sustainable world. SSAB has employees in over 50 countries. SSAB has production facilities in Sweden, Finland and the US. SSAB is listed on Nasdaq Stockholm and has a secondary listing on Nasdaq Helsinki. www.ssab.com.

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 the extent of supply chain and logistics disruptions, particularly as demand rebounds from the COVID-19 pandemic; the Company’s ability to increase prices or impose surcharges to raise margins or to offset higher input costs, including increased raw material, labor and freight costs; the cyclical nature of the Company’s access equipment, commercial and fire & emergency 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 Company’s ability to attract production labor in a timely manner; the strength of the U.S. dollar and its impact on Company exports, translation of foreign sales and the cost of purchased materials; the Company’s ability to predict the level and timing of orders for indefinite delivery/indefinite quantity contracts with the U.S. federal government; risks related to reductions in government expenditures in light of U.S. defense budget pressures and an uncertain U.S. Department of Defense (DoD) tactical wheeled vehicle strategy; the impact of any DoD solicitation for competition for future contracts to produce military vehicles; the impacts of budget constraints facing the U.S. Postal Service (USPS) and continuously changing demands for postal services; the impact of severe weather, natural disasters or pandemics that may affect the Company, its suppliers or its customers; risks related to the collectability of receivables, particularly for those businesses with exposure to construction markets; the cost of any warranty campaigns related to the Company’s products; risks associated with international operations and sales, including compliance with the Foreign Corrupt Practices Act; risks that a trade war and related tariffs could reduce the competitiveness of the Company’s products; the Company’s ability to comply with complex laws and regulations applicable to U.S. government contractors; cybersecurity risks and costs of defending against, mitigating and responding to data security threats and breaches impacting the Company; the Company’s ability to successfully identify, complete and integrate acquisitions and to realize the anticipated benefits associated with the same; and 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, including the Form 8-K. 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.

Contacts

Kelli McConahey

McNeilus Truck and Manufacturing, Inc.

507.374.8430

kmcconahey@mcneilusco.com

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