Vendor finance Perspective of equipment manufacturer Tom Olszewski Terex Financial Services

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Terex Financial Services Customers are on their own Equip Reps carry Broker’s business card Vendor as Broker: Single Source Vendor as Broker: Multi-Funder Vendor as Value- Added Broker Co-Branded / Private Label Full Service On-Book (100% or JV) Spectrum of Offerings Real Value Add Promotional Pricing Risk Enhancement Residual Involvement Remarketing Support Broad Sales Coverage Warehouse / reverse syndication

Pan-European solution? Does exist Pan-European vendor finance solution? perhaps for car manufacturer..., but probably not for Terex product portfolio among the reasons country coverage – more divestments than expansions vendor finance model – group level appetite and country level appetite risk appetite for economy segment and assets – again group vs country level large opportunity, but in a whole variety of deal sizes, asset types, customers and more...

Voice of our customers Country risks, GDP and economic trends are important, but our customers ask us for whole variety of financing solutions also in Greece Hungary Spain Slovenia Croatia Romania Bulgaria Czech Republic Poland (roadbuilding sector)....and many other countries

Terex Financial Services Customers are on their own Equip Reps carry Broker’s business card Vendor as Broker: Single Source Vendor as Broker: Multi-Funder Vendor as Value- Added Broker Co-Branded / Private Label Full Service On-Book (100% or JV) Spectrum of Offerings Real Value Add Promotional Pricing Risk Enhancement Residual Involvement Remarketing Support Broad Sales Coverage Warehouse / reverse syndication

Turkey - land of opportunities „10 to 2023” investment agenda opportunity for customers, Terex, and finance companies massive investments in road, sea, air, and rail transportation conventional, nuclear and renewable energy environment and recycling sector gas and energy urban transformation and residential construction infrastructure to stimulate industry and trade stable, growing economy young, large, and growing population one rating agency has raised Turkey to investment grade in Nov 2012 Turkey is core opportunity for Terex Are you ready to win your share of this market?

Leasing market in Turkey Controlling interest, licensed lease companies in Turkey ranked by new business volume, Q shared control by Turkish conglomerate and international banking group 2. shared control by Turkish conglomerate and international banking group 3. majority controlled by Turkish conglomerate 4. shared control by Turkish conglomerate and international banking group 5. regional banking group active in south-eastern Europe 6. Russian banking group 7. Turkish state controlled 8. Turkish state controlled 9. Turkish private controlled 10. Turkish state controlled 11. global industrial group 12. Middle East banking group 13. shared Turkish-Central Asian controlled 14. Turkish private controlled 15. Middle East banking group

The future Are you to stay as you are, and where you are? No, but...

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