1. Forum Zmieniamy Polski Przemysł 2012 Remi Le Grand Hitachi Construction Machinery (Europe) N.V. 10 February 2012 - Warsaw

2. Global sales of construction equipment 2000-2015* Source: Off-Highway Research Construction machinery market is a good economic indicator The sector recovers after difficult economic crisis period

3. Global Sales by region Crawler Excavators* Source: Off-Highway Research

4. Changing structure of demand 2005-2015* Source: Off-Highway Research The highest growth markets outside Europe: China, India

5. Market trend – Accum 12 months rolling (Poland shipments) 375 205 146 338 436 566 (130%) 519 (138%) 302 (131%) 568 (168%) 206 (141%) November 2010 & 2011 231 264 (129%) 315 (138%) 229 Source: CECE Units Polish markets on the rise fuelled by the large road infrastructure projects What is the future ahead of construction companies: railways?

6. Financing- new trends Machine financing - OEM based financing * Growing rapidly * Easier terms then bank financing - Flexibility >> Lower down payments >> Customer approval for financing * Incentives to purchase - Marketing events >> Discounts >> Prizes - Receivables risk * Less credit-worthy customer & More lenient terms

7. Conclusions Think new markets look for new markets domestically; look for geographical expansion: BRIC, Middle East and Africa; expand in large potential segments: eco-related participate in the market consolidation. Think new solutions develop differentiating technological solutions and capabilities; deliver key value proposition to the customer; new financial schemes (leasing for clients in construction machinery as an example). Think two steps ahead!

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