Vendor financePerspective of equipment manufacturer

Tom Olszewski

Terex Financial Services

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Terex Financial Services

Customers areon their own

Equip Reps carry Broker’s business card

Vendor asBroker:

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 areon their own

Equip Reps carry Broker’s business card

Vendor asBroker:

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 Turkeyranked by new business volume, Q1 2013

1. shared control by Turkish conglomerate and international banking group2. shared control by Turkish conglomerate and international banking group3. majority controlled by Turkish conglomerate4. shared control by Turkish conglomerate and international banking group5. regional banking group active in south-eastern Europe6. Russian banking group7. Turkish state controlled8. Turkish state controlled9. Turkish private controlled10. Turkish state controlled11. global industrial group12. Middle East banking group13. shared Turkish-Central Asian controlled14. Turkish private controlled15. Middle East banking group16. ...

The future

Are you to stay as you are, and where you are?

No, but ...

Thank you for your attention!

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