Tom Olszewski, CESEE Territory Manager Terex Financial Services Vendor finance Experience of equipment manufacturer

Who we are Terex Corp public company listed on NYSE, ticker: TEX corporate headquarters in Westport, CT, USA diversified global manufacturer of capital goods machinery used in a broad range of industries and applications corporate history starting back early in 20th century Terex has expanded dramatically in recent years, primarily through a series of acquisitions over 75% of sales generated in markets where Terex is a market leader ways to market vary country by country – common sense and best fit FY 2011 net sales outlook $6.3 – $6.5 billion FY 2011 EPS outlook $ $0.48 per share Q strong liquidity at $1.2 B Terex Financial Services is global financing support to Terex sales

Vendor finance 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

Lessors tend to love cars... Car vendor finance seems to be easy... remarketing collateral, RVs, avaliability and quality of future market valuation data service / maintenance intervals & costs purchase price level per unit finance terms and conditions good size of total, consistent opportunity in each country.... (name it yourself) and there are many great success stories across CEE, vendor finance programs / solutions being run for years in the same, continued, successful setup.

Does one size fit all? To manage one finance partner relationship, only, and cover with it entire CEE could seem to be a perfect solution. But. Is there a finance organization, which can answer all our needs, everywhere, in best expected way? (theoretical) country coverage skill-set and risk appettite – group level vs country level Among others, next factors to consider: how much group can impact things on country level country specific legal, tax regulations, local currencies, c.o.f., pricing solutions available on country level competition stimulates, monopoly not, and there must be alternatives voice of sales network and dealer network experienced provider vs educating the finance partner how to fly meaningful size of the cake, worth investment and effort, leverage, fit

Common sense approach / sample split Equipment Type / Amount Medium to larger Small Funding Type Structured Flow Attributes Over Euro 100K High Touch Transactional Special bid Situational promotions Under EURO 100K Quick credit decision / scoring Portal Low end user touch High Dealer touch Process is key Programmatic support Finance Partner Prioritize countries, still limit total number of partners, apply common sense approach - best available athlete by equipment, structure, country,...

Vendor finance 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

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