Baird Industrial Conference

November 12, 2008

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Forward Looking Statements & Non-GAAP Measures

The following presentation contains forward-looking information based on the current expectations of Terex Corporation. Because forward-looking statements involve risks and uncertainties, actual results could differ materially. Such risks and uncertainties, many of which are beyond the control of Terex, include among others: our business is highly cyclical and weak general economic conditions may affect the sales of its products and its financial results; our business is sensitive to fluctuations in interest rates and government spending; the ability to successfully integrate acquired businesses; the retention of key management personnel; our businesses are very competitive and may be affected by pricing, product initiatives and other actions taken by competitors; the effects of changes in laws and regulations; our business is international in nature and is subject to changes in exchange rates between currencies, as well as international politics; our continued access to capital and ability to obtain parts and components from suppliers on a timely basis at competitive prices; the financial condition of suppliers and customers, and their continued access to capital; our ability to timely manufacture and deliver products to customers; possible work stoppages and other labor matters; our debt outstanding and the need to comply with restrictive covenants contained in our debt agreements; our ability to maintain adequate disclosure controls and procedures, maintain adequate internal controls over financial reporting and file its periodic reports with the SEC on a timely basis; the previously announced investigations by the SEC and the Department of Justice; compliance with applicable environmental laws and regulations; product liability claims and other liabilities arising out of our business; and other factors, risks, uncertainties more specifically set forth in our public filings with the SEC. Actual events or the actual future results of Terex may differ materially from any forward looking statement due to those and other risks, uncertainties and significant factors. The forward-looking statements speak only as of the date of this presentation. Terex expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement included in this presentation to reflect any changes in expectations with regard thereto or any changes in events, conditions, or circumstances on which any such statement is based.

Non-GAAP Measures: Terex from time to time refers to various non-GAAP (generally accepted accounting principles) financial measures in this presentation. Terex believes that this information is useful to understanding its operating results and the ongoing performance of its underlying businesses without the impact of special items. See the Investors section of our website www.terex.com for a complete reconciliation.

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Purpose Mission Vision Statement

Purpose • To improve the lives of people around the world

Mission • To delight construction, infrastructure, mining and other customers with value-added offerings that exceed their needs

• To attract the best people by creating a culture that is safe, exciting, creative, fun, and embraces continuous improvement

Vision • To be the most responsive company in the industry as determined by the customer

• To be the most profitable company in the industry as measured by Return on Invested Capital (ROIC)

• To be the best place to work in our industry as determined by our team members

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Terex Is…

• A diversified Portfolio of Equipment Businesses• Positioned for Continuing Long - Term Trends• A leader In Our Categories and Our Industry• Leveraging the Power Of One Company

AERIAL WORK PLATFORMS

CONSTRUCTION

CRANES MATERIALS PROC. AND MINING

ROADBUILDING AND UTILITIES

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Terex is Diversified

$ 9.1 B$ 9.1 B

2007 SALES BY GEOGRAPHY2007 SALES BY BUSINESS

AWP 25%

Cranes 24%

MP&M 23%

Construction 21%

RBU 7%

$ 9.1 B$ 9.1 B

W. Europe 37%

USA / Canada

34%

Japan / ANZ 7%

Developing Markets

22%

Balanced by business; Balanced geographically

Diversified Portfolio of Equipment Businesses

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Positioned for Continuing Long - Term Trends

WORLD PRIMARY ENERGY DEMAND*

* Source: International Energy Agency

• Beneficial to multiple Terex categories

• Particularly positive for Cranes and Mining

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EXAMPLE: NON-FERROUS METALS EXPLORATION (1989 – 2007), $B*

0

2

4

6

8

10

12

'89 '90'91 '92'93 '94'95 '96'97 '98'99'00 '01'02 '03'04 '05'06 '07

EXPENDITURES BY TOP 40 MINING COMPANIES

$75

$95

$125$134 $141

$176

020406080

100120140160180200

'02 '03 '04 '05 '06 '07

$28

$37

$51

0

10

20

30

40

50

60

'05 '06 '07

OPEX ($B)** CAPEX ($B)**

• Global consumption driving unprecedented levels of investment

• Outlook for mining equipment remains positive and the corresponding industrial growth is a driver for other businesses

* Source: Metals Economics Group; **Source: PWC: “Mine: As Good as it Gets?”, 2008 – capex excludes acquisitions

Positioned for Continuing Long - Term Trends

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5.6 % CAGR

$0

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

$7,000

'90 '91'92 '93 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04'05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16

Total Residential

-0.8 % CAGR

$0

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

$7,000

'90'91 '92'93 '94'95 '96'97 '98'99 '00'01 '02'03'04 '05'06 '07'08 '09'10 '11'12 '13'14 '15'16

Infrastructure Industrial Other Non-residential

GLOBAL NON-RESIDENTIAL CONSTRUCTION (REAL 2007 $)*

$T

1.6 % CAGR

5.6 % CAGR

GLOBAL RESIDENTIAL CONSTRUCTION (REAL 2007 $)*

$T

5.1 % CAGR

1.3 % CAGR

4.4 % CAGR

• Global growth in construction continues, despite weakness in US• Construction driving high need for quarrying and aggregates• Flexibility of mobile equipment is increasingly valued

* Source: Global Insights, July ‘08; 69 countries tracked by GI + 5% to account for rest of world … consistent with global GDP’s

Terex is Positioned for Continuing Long-Term Trends

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$19.7

$10.4 $9.1 $8.7 $8.1$5.1 $4.8 $4.5 $4.4 $3.7$5.2

$31.6

(1) Represents Machinery sales for the last twelve months ended Sep 30, 2008; excludes Engine and Financial Product sales.

(2) Represents Komatsu’s Construction, Mining & Utility Equipment segment as of June 30, 2008 converted at an exchange rate of JPY/USD of 106.18

(3) Exchange rate used as of June 30, 2008 of USD/JPY 106.18(4) Represents Volvo’s Construction Equipment segment as of Sep 30, 2008 converted at

an exchange rate of USD/SEK 6.9252(5) Represents Deere’s Construction and Forestry segment as of July 31, 2008(6) Represents 2007 Construction Equipment sales of $1.5 billion converted at an exchange

rate at Dec 31, 2007 of KRW/USD 936.07 plus estimated 2007 bobcat sales of $2.9 billion

(7) Estimated, as these are privately owned companies:JCB: 2007 sales of GBP 2.25 billion converted at Dec 31, 2007 GBP/USD rate of 1.9870Liebherr: 2007 Cranes/Mining/Construction sales of EUR 5.5 billion converted at Dec 31, 2007 EUR/USD rate of 1.4598

(8) Represents CNH Global’s Construction Equipment Segment as of Sep 30, 2008(9) Represents Access & Concrete Placement equipment sales for the 9 months ended

June 30, 2008 plus Access & Commercial (both concrete & refuse trucks) for the 3 months ended Sep 30, 2007.

(10) Represents Mining & Construction sales through Jun 30, 2008 converted at an exchange rate of SEK/USD 6.9252

Caterpillar (1) Komatsu (2) Terex Deere (5)Hitachi (3) Volvo (4) CNH Global (8) Oshkosh (9)Liebherr (7) JCB (7) Doosan (6)Sandvik (10)

Terex is one of the Largest Manufacturers of Construction Equipment in the World

Based on last twelve months of available Construction Equipment Sales ($’s in Billions)

Terex is a Leader in Our Categories & Industry

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Approximately 75% of 2007 sales were generated in markets where Terex has significant market presence

• Articulated boom lifts (top 2)• Telescopic boom lifts (top 2)• Scissor lifts (top 3)• NA Telehandlers (#2)

AERIAL WORK PLATFORMS

• Compact Track Loaders (#1)• Material Handlers (#2 or 3)

CONSTRUCTION

• All Terrain Cranes (top 2)• Rough Terrain Cranes (top 3)• Tower Cranes (#3)• Large Crawlers (#1)• Port Cranes (top 2)*

CRANES

• Hydraulic Excavators (top 3)• Mining Trucks (#3)• Surface Drills (# 3)• Crushing & Screening (#1)**• Highwall Miners (#1)

MP&M

• Front Discharge Mixers (#1)• Insulated Aerials (#2)

ROADBUILDING AND UTILITIES

* Including pro forma impact of Fantuzzi acquisition; ** Mobile Equipment

Terex is a Leader in Our Categories & Industry

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• Better than diversified industrials with higher valuations

Terex is a Leader in Our Categories & Industry

• In-line with larger, more vertically integrated competitors

32.9%

24.4% 23.6%20.2%

8.9%

31.0%32.5%

18.1%

0%

10%

20%

30%

40%

Manit owoc Joy Global Deere Cat erpillar Terex Bucyrus Ast ec Oshkosh

18.9%

11.8%13.9%

23.6%

16.9%

0%

10%

20%

30%

Terex Unit ed Technologies Illinois Tool Works Dover Corp. Danaher Corp

Q3 2008 LTM After-Tax ROIC-Machinery Industry

Q3 2008 LTM After-Tax ROIC-Diversified Industrials

ROIC is calculated by dividing the sum of the last four quarters’ net operating income after tax by the average of the sum of total stockholders’ equity plus debt less cash and cash equivalents for the most recent last five quarters ended. DE and JOYG are as of 7/31/08, the remainder are at 9/30/08. CAT and DE do not include the finance arms above. Including the finance arms, DE ROIC is 12.6% and CAT ROIC is 9.7%. MTW Q3 2008 tax rate was normalized to adjust for one-time $198 million loss on currency hedge; OSK includes $175 million goodwill impairment charge incurred during Q3 2008.

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• Our framework to build a stronger Terex

• Process improvements will assure long term success

Leveraging the Power of One Company

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• 5+ years of strong growth, driven by market conditions and an increasingly robust portfolio

• Committed to core financial principles – Growth with modest debt leverage– ROIC focused

• Near term outlook is mixed but long term remains positive

• Core business initiatives that will enhance long-term results

Supporting Profitable Growth

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$0.0

$2.0

$4.0

$6.0

$8.0

$10.0

'94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 Q3LTM

$0.0

$0.2

$0.4

$0.6

$0.8

$1.0

$1.2

Terex to Date: Consistent Sales Growth

Sales (USD billions) Operating Income (USD billions)

Sales growth from 2003 to 2007 was ~90% organic

Acquisitions: SimonO&K

PPM

Powerscreen, CedarapidsFermec

CMI, AtlasSchaeff, Demag, Genie

Reedrill

SHM

ASVHydra

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Developing Markets Growth to Date

2004 2005 2006 2007

22% of 2007 sales 42% CAGR 2004 - 2007

DEVELOPING MARKET SALES GROWTH ($)

2004 2005 2006 2007

Broad Based Global GrowthStrongest In 3 Businesses

DEVELOPING MARKET SALES BY BUSINESS ($)

Cranes

MP&M

Construction

AWPRBU

Asia, ex. Japan

Russia/ E. Europe

S/C America

Middle East

Africa

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$0.0

$0.2

$0.4

$0.6

$0.8

$1.0

$1.2

2002 2003 2004 2005 2006 2007 LTM Q3 2008

Aerial Work Platforms Construction Cranes

Material Processing & Mining Roadbuilding, Utilities & Other

Terex to Date: Broad-based Profit Growth

Operating income growth outpacing sales growthIncreasingly evenly distributed (AWP, MPM, Cranes)

Operating Income (USD billions)

CAGR 82%

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Terex to Date: Growth with Minimal Leverage

$1.9 $2.0 $1.8

$2.8

$3.9

$4.8

$6.2

$9.1

$10.4

$7.6

1999 2000 2001 2002 2003 2004 2005 2006 2007 Q3 2008*

Net DebtSales

($ in billions)

• Q3 2008 sales is based on last 12 months sales as of Sept 30, 2008; Net Debt is as of Sept 30, 2008• Net leverage ratio is defined as debt less cash and cash equivalents divided by last twelve months EBITDA

Net leverage of 1.0x in Q3 provides flexibility

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35%

10%

14%

25%

29%

24%

3%

12%

21%

38%

43%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

2003 2004 2005 2006 2007 Q3 LTM

Pre-tax ROICAfter-tax ROIC

ROIC growth driven by operating income growth faster than invested capitalRecent acquisitions of SHM and ASV dampen returns in the short term

ROIC is calculated by dividing the sum of the last four quarters’ net operating income after tax by the average of the sum of total stockholders’ equity plus debt less cash and cash equivalents for the last five quarters ended.

Return on Invested Capital

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Next four quarters net sales expectations beginning 4Q’08:

• Mining and Cranes continuing favorable trends

• AWP (30%-40%), Construction (25%-35%) and Materials Processing (15%-20%) negatively impacted by current market conditions

Material Cost pressure continues ahead of pricing actions in short term

Cost reduction actions underway to adjust to market expectations

Focus on Cash

Near Term Outlook

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• Production level and headcount reductions

• Material inflow constrained

• Facility rationalization

• Segment realignment

• Capital spending slowed

Cost Reduction Activities

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Priorities for Cash Utilization

Must consider current environment No near term debt maturities

Internal investment• Manufacturing capability / footprint• Human capital• Systems

Value generating acquisitions Returning cash to shareholders

• Currently suspended share repurchase program, pending access to credit markets

• $1.2 billion authorized through June 2009 ($0.6 B to date)

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• Market conditions are challenging but portfolio is positioned for long term growth

• Financial principles – Current net leverage of 1X– No near term debt maturities– ROIC focused

• Near term outlook is mixed but long term remains positive

• Core business initiatives that will enhance long-term results

Well Positioned

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Questions?