1

Investor PresentationAugust – October 2017

2

Safe Harbor Statement & Disclosures

This presentation includes forward-looking comments subject to important risks and uncertainties. It may also contain financial measures that are not in conformance with accounting principles generally accepted in the United States of America (GAAP).

Refer to Deere’s reports filed on Forms 8-K (current), 10-Q (quarterly), and 10-K (annual) for information on factors that could cause actual results to differ materially from information in this presentation and for information reconciling financial measures to GAAP. Past performance may not be representative of future results.

Guidance noted in the following slides was effective as of the company’s most recent earnings release and earnings call (18 August 2017). Nothing in this presentation should be construed as reaffirming or disaffirming such guidance.

This presentation is not an offer to sell or a solicitation of offers to buy any of Deere’s securities.

3

Table of ContentsSlide

John Deere Strategy 4

Use-of-Cash 16

Global Markets 21

John Deere Financial Services 32

Agriculture Fundamentals 37

Construction & Forestry Fundamentals 43

Appendix 46

4

John Deere Strategy

5

6

Exceptional Operating Performance - OROAEquipment Operations

* Operating Return on Operating Assets** Shareholder Value Added; for reconciliation to GAAP see “SVA* Reconciliation to GAAP” slide in Appendix

14.4% OROA* in 2016

12%

20%

28%

2001

2002

2003

200420052006

2007 2008

2009

2010

2011

2012

2013

2014

20152016

-10%

0%

10%

20%

30%

40%

12% OROA (SVA** Neutral)

% of Mid-Cycle Volume80% 100% 120%

7

Exceptional Operating Performance – SVAEquipment Operations

* Shareholder Value Added; for reconciliation to GAAP see “SVA* Reconciliation to GAAP” slide in Appendix

$310 million SVA* in 2016

-$2,000

-$1,000

$0

$1,000

$2,000

$3,000

$4,000

1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016

$ M

illio

ns

Adoption of SVA Model

8

Exceptional Operating Performance – Net Cash FlowEquipment Operations

* Shareholder Value AddedNote: Over $8 billion in Pension/OPEB contributions from 2001-2016

$2.9 billion Net Cash Flow in 2016

$0

$1,000

$2,000

$3,000

$4,000

$5,000

1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016

$ M

illio

ns

Sale of Trade Receivables to John Deere Financial

Adoption of SVA* Model

9

Asset Management

Receivable level in 2016 lower than 1998, with 2x the sales

0%

10%

20%

30%

40%

50%

60%

2001 2004 2007 2010 2013 2016

Current Year Prior Year

Quarterly Receivables & Inventory as a % of Previous 12 Months Sales

$0

$5,000

$10,000

$15,000

$20,000

$25,000

Trade Receivables Net Sales

$ M

illio

ns

1998 2016

Trade Receivables and Net Sales

10

Productivity Improvement

Net Sales and Revenues per Employee

$0

$100

$200

$300

$400

$500

$600

$700

1988 1992 1996 2000 2004 2008 2012 2016

$ Th

ousa

nds

~ 5% CAGR* over 30 years

* Compound Annual Growth Rate

11

Investment in New Products and Technologies

Source: Deere & Company and competitor SEC filings

0%

2%

4%

6%

8%

$0

$300

$600

$900

$1,200

$1,500

$1,800

2002 2004 2006 2008 2010 2012 2014 2016

Deere R&D $ Deere % Competitor A % Competitor B %

Consistently spending at or above competition on technology and innovation

R&D as Percent of Net Sales

$ M

illio

ns

12

Precision Ag

Easier Smarter More PreciseBigger Faster Stronger

Today’s machines are more productive

Greater productivity emerges with added technology

13

Equipment + Precision Ag Technology

Digital Solutions

API’s

Core Precision Ag Technologies

AutoTrac™ Rate Controller

Machine Sync & Coverage Map Sharing

JDLink Connect

Premium ActivationDoc & Section Control

HarvestLab™

Harvest Mobile

Mobile Data Transfer

Large Ag Equipment

John Deere Operations Center

MyOperations™

MyAnalyzer™

14

Better machine performance

Precision AgEquipment + Technology + Services

Better job performance Better agronomic decisions

– Ensure machines function as expected– Maximize machine performance– Increase operator consistency

– Achieve quality outcomes for each job– Coordinate machines to execute jobs

more effectively and efficiently– Monitor job progress and adjust

operational plans

– See, collaborate and direct information when needed and where needed with an online set of tools

– Automate collection and transfer of data from the machine to platform

15

Net Sales by Product CategoryEquipment Operations – Fiscal 2016

Agriculture & Turf$18.5 billion

Construction & Forestry$4.9 billion

Small Ag

TurfCompact

Construction

Forestry

Other

Large Ag

16

Use-of-Cash

17

Manage the balance sheet, including liquidity, to support a rating that provides access to low-cost and readily available short- and long-term funding mechanisms Reflects the strategic nature of our financial services operation

Committed to “A” Rating

Cash from Operations

Fund Operating and Growth Needs

Common Stock Dividend

Share Repurchase

Fund value-creating investments in our businesses

Consistently and moderately raise dividend targeting a 25%-35% payout ratio of mid-cycle earnings

Consider share repurchase as a means to deploy excess cash to shareholders, once above requirements are met and repurchase is viewed as value-enhancing

Deere Use-of-Cash Priorities

18

$0.11

$0.28

$0.60

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

$0.70

2004 2005 2006 2007* 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Deere Quarterly Dividends Declared 1Q 2004 – 3Q 2017

* Adjusted for 2 for 1 stock split on 26 November 2007

Dividend raised 114% since 2010

19

Share RepurchaseAs Part of Publicly Announced Plans

* All shares adjusted for two-for-one stock split effective 26 November 2007

2004–3Q 2017:Cumulative cost of repurchases $16.4 billionShares repurchased 245.0 millionAverage repurchase price $66.96

December 2013 authorization of $8 billion:Amount remaining $3.3 billion

30 July 2017 period ended basic shares 321.3 million3Q 2017 average diluted shares 325.1 million

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

0

10

20

30

40

2005 2007 2009 2011 2013 2015 2017YTD

$ Billions

Mill

ions

of Sha

res*

Shares Repurchased Amount Spent

Share Repurchase

35% net share reduction since 2004

20

$4,287 $3,141

$35,002

$835

$10,060$1,325

$3,102

$7,084

$14,427

$987

$0

$10,000

$20,000

$30,000

$40,000

$50,000

Beginning Cash& Cash

Equivalents(Fiscal 2004)

Cash FromOperations

Divestitures,net of

Acquisitions

CapitalExpenditures

Investment inFinancialServices

Net Change inDebt and

IntercompanyBalances

Dividends ShareRepurchase, net

of CommonStock Issuances

Other* Ending Cash &Cash

Equivalents(Fiscal 2016)

Sources and Uses of Cash Fiscal 2004-2016Equipment Operations

$ M

illio

ns

~ 61% of cash from operations returned to

shareholders

* Other includes proceeds from maturities and sales of marketable securities and purchases of marketable securities and reconciliation for non-cash items including the effect of exchange rates on cash and cash equivalentsNote: “Cash from Operations” adjusted with the adoption of FASB ASU No. 2016-09 “Improvements to Employee Share-Based Payment Accounting”Source: Deere & Company SEC filings

= Source of Cash= Use of Cash

21

Global Markets

22

Net Sales by Major MarketsEquipment Operations

$ Billions* U.S. & Canada not to scale with other markets

$14.8

$17.4

$20.8$21.8

$20.2

$16.6$14.4

2010 2011 2012 2013 2014 2015 2016

U.S. & Canada*

$3.4$4.4 $4.3 $4.4 $4.4

$3.3 $3.2

2010 2011 2012 2013 2014 2015 2016

Western Europe

$2.6$3.6 $3.6

$4.3 $4.1

$2.4 $2.2

2010 2011 2012 2013 2014 2015 2016

Latin America

$1.4 $1.9 $2.1 $2.1 $2.0 $1.9 $1.5

2010 2011 2012 2013 2014 2015 2016

Asia, Africa & Middle East

$0.7$1.4 $1.7 $1.6 $1.4 $1.0 $1.3

2010 2011 2012 2013 2014 2015 2016

Central Europe & CIS

$0.6 $0.8 $1.0 $0.8 $0.8 $0.6 $0.8

2010 2011 2012 2013 2014 2015 2016

Asia Pacific, Australia & New Zealand

23

U.S. and CanadaFactory Locations

Iowa, USA• Cotton Harvesting Equipment• Planting Equipment• Spraying Equipment• Tillage Equipment• Ag Tractors• Components• Foundry• Engines• Hay & Forage Equipment• Articulated Dump Trucks• 4WD Loaders• Motor Graders• Skidders• Wheeled Feller Bunchers• Backhoes• Compact Tracked Loaders• Crawler Dozers• High-Speed Dozers• Knuckleboom Loaders• Skid Steer Loaders• Tracked Feller Bunchers• Tracked Harvesters• High Clearance Sprayers (JV)

British Columbia, Canada• Log Loaders & Specialty Products

Alberta, Canada• Remanufactured Components

North Dakota, USA• Air Seeding Equipment• Electronics• Tillage Equipment

Wisconsin, USA• Lawn & Garden Equipment• Utility Vehicles• Golf & Turf Reel Mowers

Illinois, USA• Combine Harvesters• Headers• Planting Equipment• Hydraulic Cylinders

Tennessee, USA• Lawn Tractors

North Carolina, USA• Commercial Mowers• Golf & Turf Mowers• Utility Vehicles• Hydraulic Excavators

Georgia, USA• Utility Tractors• Compact Utility Tractors

Louisiana, USA• Sugarcane Harvesting Equipment• Tractor Loaders• Scrapers• Cotton Strippers

Missouri, USA• Remanufactured Components

Kansas, USA• Power Transmission Equipment

California, USA• Satellite Receivers

24

EU 28Factory Locations

Joensuu, Finland• Wheel Forwarders• Wheel Harvesters• Forestry Attachments

Stadtlohn, Germany• Headers

Gummersbach, Germany• Walk-Behind & Autonomous Mowers

Bruchsal, Germany• Tractor & Harvesting Cabs

Mannheim, Germany• Tractors

Madrid, Spain• Components

Arc-les-Gray, France• Balers• Ag Loaders

Largeasse, France• Planting Equipment

Saran, France• Engines

Zweibrücken, Germany• Combines & Forage Harvesters

Horst, The Netherlands• Spraying Equipment

Ravenna, Italy• Sprayers

25

BrazilFactory Locations

Catalão, Brazil• Sugarcane Harvesters• Sprayers

Indaiatuba, Brazil• Backhoe Loaders• 4WD Loaders• Motor Graders• Excavators (JV)

Montenegro, Brazil• Tractors

Horizontina, Brazil• Combine Harvesters• Planters

26

CISFactory Locations

Domodedovo, Russia• Tractors• Combine Harvesters• Motor Graders

Orenburg, Russia• Seeding Equipment• Tillage Equipment

27

ChinaFactory Locations

Jiamusi, China• Combine Harvesters• Cotton Pickers

Tianjin (TEDA), China• 4WD Loaders• Excavators• Engines (85-254 hp)• Tractors (85-320 hp)

Ningbo, China• Tractors (30-55 hp)• Cane Harvesters

28

IndiaFactory Locations

Pune, India• Engines• Transmissions• Tractors (36-75 hp)• Electronics

Sirhind, India• Combine Harvesters

Dewas, India• Tractors (36-50 hp)

29

Other RegionsFactory Locations

Ramos, Mexico• Ag Loaders• Compact Utility Tractor Loaders• Utility Tractor Cabs• Hydraulic Cylinders

Monterrey, Mexico• Rotary Cutters• Implements• Components

Saltillo, Mexico• Ag Tractors• TransaxlesTorreon, Mexico

• Axles• Engines• Electronics

Rosario, Argentina• Engines• Tractors• Combines

Kibbutz Beit Hashita, Israel• Cotton Picker Components

Tokoroa, New Zealand• Forestry Harvester Heads

30

Worldwide Parts ServicesSupporting the Growth of Our Equipment Operations

Highlights:– Miami, Florida (United States)

– Will directly support the Latin America dealer network, operational in 4Q 2017

– China footprint– Strategic distribution locations to support

China market, operational 2016

– Campinas, Brazil– Expansion of existing facility, operational

March 2015

Anchor Parts Distribution CentersRegional Parts Distribution Centers or DepotsDistribution Centers Under Construction

31

Engine Emissions2017 Worldwide Off-Road Emissions Regulations > 75 hp

Stage II/Tier 2

Stage IIIA/Tier 3/TREM 3A/MAR 1/China NR III

Stage IV/Final Tier 4 (> 75-750 hp)

* Includes some non-EU28 countries that follow EU28 emissions regulations

U.S. and CanadaFinal Tier 4

RussiaAg tractors: Stage II

EU28*Stage V – starting 2019

ChinaChina NR III

IndiaTREM 3A >50hp

BrazilMAR 1:• Construction equipment• Ag equipment >100hp

32

John Deere Financial Services

33

John Deere Financial ServicesSupporting the Growth of Our Equipment Operations

Owned Operations

Bank/Finance Company Partners

Retail programs through JDF not currently offered

34

John Deere Financial Services

Net Income

-$2,000

-$1,000

$0

$1,000

$2,000

$3,000

$4,000

1987 1991 1995 1999 2003 2007 2011 2015

John Deere Financial (attributable to Deere & Company) Deere & Company

$ M

illio

ns

Consistent earnings throughout the cycle

35

Portfolio Composition by Segment

John Deere Financial Services

Portfolio Composition by Geography Portfolio Composition by Product

A&T85%

C&F15%

Installment and Finance

Lease57%

Wholesale/ Floorplan

19%

Revolving Credit8%

Operating Lease16%

U.S.75%

Canada10%

Europe5%

Latin America

6%

Australia3% Asia

1%

Note: Information above includes all Deere & Company lending activities worldwide. John Deere Capital Corporation is the largest lending operation of Deere & Company.

$38.1 billion Net Owned Portfolio as of 31 October 2016

36

John Deere Capital Corporation

Agriculture & Turf* Construction & Forestry

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

1983 1988 1993 1998 2003 2008 2013

Net Write-offs (Ag) Installments 60+DPD (Ag)

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

1995 2000 2005 2010 2015

Net Write-offs (C&F) Installments 60+DPD (C&F)

* 1983–1985 includes construction; 1986-1994 includes lawn & grounds care; 2009 forward includes ag & turf equipment; as % of owned losses after dealer reserve charges Source: 1983–1994 internal reporting, 1995-2011 JDCC 10-K filings, 2012-2016 internal reporting

Continued extremely low write-offs in Agriculture & Turf and Construction & Forestry

37

Agriculture Fundamentals

38

Global Stocks-to-Use Ratios

Source: USDA, 10 August 2017

0%

20%

40%

60%

80%

100%

120%

0%

10%

20%

30%

40%

50%

60%

1996 1999 2002 2005 2008 2011 2014 2017P

Cotton R

atios

CottonWheat

Corn

Soybeans

39

Source: USDA, 10 August 2017

Global Grain Supply and Demand

0

500

1,000

1,500

2,000

2,500

3,000

93/94 95/96 97/98 99/00 01/02 03/04 05/06 07/08 09/10 11/12 13/14 15/16 17/18

Mill

ion

Met

ric

Tons

Consumption Production

40

Global Grain DemandWith and Without Biofuel Use

0

1,000

2,000

3,000

2005 2007 2009 2011 2013 2015 2017F

Mill

ion

Met

ric

Tons

Consumption with biofuel use

0

1,000

2,000

3,000

2005 2007 2009 2011 2013 2015 2017F

Mill

ion

Met

ric

Tons

Consumption without biofuel use

* Compound Annual Growth RateSource: OECD-FAO Agricultural Outlook 2016-2025, July 2016

41

U.S. Farm Cash Receipts

$0

$100

$200

$300

$400

$500

2001 2003 2005 2007 2009 2011 2013 2015 2017F

$ Bill

ions

Crops Livestock Government Payments

Source: 2001–2015: USDA, 7 February 20172016F–2017F: Deere & Company forecast as of 18 August 2017

42

U.S. Farm Balance Sheet

10%

15%

20%

25%

30%

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

1973 1977 1981 1985 1989 1993 1997 2001 2005 2009 2013 2017F

$ Bill

ions

Farm Debt Farm Equity Debt to Equity Ratio (%) Debt to Asset Ratio (%)

Source: 1973–2015: USDA, 7 February 20172016F–2017F: Deere & Company forecast as of 18 August 2017

43

Construction & Forestry Fundamentals

44

U.S. Housing Starts

0.0

0.5

1.0

1.5

2.0

2.5

1967 1972 1977 1982 1987 1992 1997 2002 2007 2012 2017F

Multi-Family Housing Starts Single-Family Housing Starts

Source: 1967–2015: U.S. Census Bureau, July 20172016F–2017F: Deere & Company forecast as of 18 August 2017

Mill

ions

of U

nits

45

-160%

-140%

-120%

-100%

-80%

-60%

-40%

-20%

0%

20%

40%

60%

$0

$400

$800

$1,200

$1,600

$2,000

$2,400

1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017F

% Total C

onstruction Spend

$ Bill

ions

*

Government Infrastructure Investment Government Investment in StructuresNonresidential Investment in Structures Residential Investment in Structures

U.S. Construction Spending

* 2009$ baseSource: 1997–2015: U.S. Bureau of Economic Analysis, July 2017

2016F–2017F: Deere & Company forecast as of 18 August 2017

46

Appendix

47

SVA* Reconciliation to GAAPEquipment Operations

* Shareholder Value Added

($ millions except where noted) 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

Net Sales 6,479 7,663 8,830 9,640 11,082 11,926 9,701 11,169 11,077 11,703 13,349 17,673

Average Identifiable AssetsWith Inventories at LIFOWith Inventories at Standard Cost

5,4496,442

5,5516,494

6,1877,131

6,5027,488

6,6827,703

7,6728,711

7,7248,739

8,0699,039

8,7439,678

6,2297,147

5,9656,925

6,4827,477

Operating ProfitPercent of Net Sales

2423.7%

84711.1%

1,00611.4%

1,12511.7%

1,40212.6%

1,47612.4%

2722.8%

6936.2%

(46)(0.4%)

4013.4%

7085.3%

1,90510.8%

Operating Return on AssetsWith Inventories at LIFOWith Inventories at Standard Cost

4.4%3.8%

15.3%13.0%

16.3%14.1%

17.3%15.0%

21.0%18.2%

19.3%16.9%

3.5%3.1%

8.6%7.7%

(0.5%)(0.5%)

6.4%5.6%

11.9%10.2%

29.4%25.5%

SVA Cost of Assets (773) (780) (856) (898) (924) (1,045) (1,049) (1,085) (1,162) (858) (831) (897)

SVA (531) 68 150 226 477 431 (776) (392) (1,208) (457) (123) 1,008

($ millions except where noted) 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Net Sales 19,401 19,884 21,489 25,803 20,756 23,573 29,466 33,501 34,998 32,961 25,775 23,387

Average Identifiable AssetsWith Inventories at LIFOWith Inventories at Standard Cost

7,2488,312

7,5468,634

8,0929,205

9,65210,812

9,64710,950

9,19610,494

11,51612,875

13,59414,965

14,56915,924

14,11315,493

12,49113,840

11,81613,092

Operating ProfitPercent of Net Sales

1,8429.5%

1,9059.6%

2,31810.8%

2,92711.3%

1,3656.6%

2,90912.3%

3,83913.0%

4,39713.1%

5,05814.5%

4,29713.0%

2,1778.4%

1,8808.0%

Operating Return on AssetsWith Inventories at LIFOWith Inventories at Standard Cost

25.4%22.2%

25.2%22.1%

28.6%25.2%

30.3%27.1%

14.1%12.5%

31.6%27.7%

33.3%29.8%

32.3%29.4%

34.7%31.8%

30.4%27.7%

17.4%15.7%

15.9%14.4%

SVA Cost of Assets (998) (1,036) (1,094) (1,284) (1,301) (1,259) (1,545) (1,795) (1,911) (1,860) (1,661) (1,570)

SVA 844 869 1,224 1,643 64 1,650 2,294 2,602 3,147 2,437 516 310