The Power of Cummins2015

2

A Rich History Rooted in Innovation

Founded in 1919 by Clessie Cummins and W.G. Irwin

Pioneered the development of diesel engines

Promoted diesels as a reliable source of power

Earned its first profit in 1937

J. Irwin Miller Era

3

A transformative and visionary leader

Embraced stakeholder model

Laid foundation for future global growth

Integrated values into the fabric of our business

4

Making people’s lives better by unleashing the power of Cummins. Vision:

• Motivating people to act like owners working together.

• Exceeding customer expectations by always being first to

market with the best products.

• Partnering with our customers to make sure that they succeed.

• Demanding that everything we do leads to a cleaner, healthier,

safer environment.

• Creating wealth for all stakeholders.

Mission:

5

Values

• Integrity:

Strive to do what is right and do what we say we will do.

• Innovation:

Apply the creative ingenuity necessary to make us better, faster, first.

• Delivering Superior Results:

Exceed expectations, consistently.

• Corporate Responsibility:

Serve and improve the communities in which we live.

• Diversity:

Embrace the diverse perspectives of all people and honor with both

dignity and respect.

• Global Involvement:

Seek a world view and act without boundaries.

6

Build a sustainable future for all stakeholdersProfitable Growth

Strong Shareholder ReturnProfits Grow Faster

Than Revenues

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

$0

$5

$10

$15

$20

2007 2008 2009 2010 2011 2012 2013 2014

Revenue (

$ B

illio

n)

Revenue and EBIT

Revenue

EBIT %

1 EBIT excludes restructuring charges in 2009 and 2014 (in Power Generation), and the gains from the divestiture of two businesses and flood insurance recovery are excluded from 2011. Also, Q2‘12 EBIT excludes $6 million pre-tax

additional gain from the divestiture of two businesses in 2011, and Q4’12 EBIT excludes $52 million in restructuring charges.

Internal Use Only

7

Building strong communities

throughout the world with a

diverse workforce

People

Meeting clean air standards

with technology-leading

engines and related products

Products

Creating a smaller global

footprint by recycling, reducing

and reusing in our buildings

and communities

Practices

Sustainability

8

Cummins delivers power through our

products

9

Complementary BusinessesGlobal Power Leader

Power

GenerationComponents DistributionEngine

10Internal Use Only

2014 Revenue: $19.2 billion

Engine 46%

Power Generation

12%

Distribution 21%

Components 21%

Complementary Businesses

49 hp

4,400 hp

QSK95QSF2.8

11

Engine Business

$11 BSales in 2014

49–4,400 hpBroad range of

products

1 M+Engines made

in 2014

Engine BusinessMarket Applications

12

Light-Duty

Automotive & RV

Mining, Marine, Oil & Gas,

GovernmentConstruction & Agriculture Stationary Power

RailMedium-Duty

Truck & Bus

Heavy-Duty

Truck

Internal Use Only

13

$2.9 BSales in 2014

OneSource for

complete power

solutions

2-3,500kWPre-integrated

power systems

Power Generation Business

14

Power Generation BusinessLines of Business

Power Solutions Power Systems Generator

Technologies

15

$5.1 BSales in 2014

Key

technologiesFor meeting

global emission

standards

4Integrated

businesses

Components Business

16

Components BusinessLines of Business

Emission

Solutions

Turbo

TechnologiesFiltration Fuel Systems

17

Distribution Business

$5.2 BSales in 2014

Direct LinkTo Cummins’

end users

120+Global

distributors

18

Distribution Business

through our extensive

global distributor and

dealer network of factory

trained technicians

to dealers and employees to

ensure the customer sees

one Cummins when

interacting with our Company

for customers, leveraging

the full range of Cummins

products in more than 20

application segments

Provide

solutions

Provide service

and supportProvide

training

Internal Use Only

19

Cummins delivers power through our

network

20Internal Use Only

Global Presence

Employees

worldwide

55,000190+ Countries

and territories

Develop, design and

manufacture products on 6continents

21

U.S. 56%

Europe/

Middle East 15%

Mexico/Latin America 8%

China 8%

Asia Pacific 9%

India 3% Africa 1%

U.S. 56%Outside U.S. 44%

2014 Global Sales

22

We deliver products and services to worldwide customers. Global Partnerships

v

23

Customer Support Excellence

Customers’ success = Cummins’ success

Customer Success. Every™ Time

We valuesafety above

all else

We care about customer success

We provide dependableproducts and

services

We Respond with urgency

24

Cummins delivers power through our

employees

25Internal Use Only

Our employees are the reason for our success. Their hard work,

innovation and agility have made Cummins the company it is today.

--- Tom Linebarger, Chairman & CEO“ ”

26

DiversityEmbrace the diverse perspectives of all people and honor with

both dignity and respect

Creates an environment

where innovation and

ideas flourish

Builds a workforce that

reflects the communities

where Cummins does

business

Encourages all

employees to use

their best talents

27

While some still argue that business has no social responsibility,

we believe that our survival in the very long run is as dependent

upon responsible citizenship in our communities and in the

society, as it is on responsible technological, financial and

production performance.

--- J. Irwin Miller

28

Corporate Responsibility

Focused Engagement:

Environment EducationSocial Justice/Equality of Opportunity

Strategic Initiatives:TEC: Technical Education

for Communities Power to Prosper

29

Corporate Responsibility2014 Engagement

Recorded volunteer hours globally

3 6 4 9 8 0 Metric tons of greenhouse

gas reduced

People educatedSwimming Pools of

Water Conserved

Global projects

Every Employee Every Community Environmental Challenge - Impact

30

Listed Dow Jones

Sustainability Index for

10th consecutive year

Ranked Among World's

Best in Newsweek's 2014

Green Rankings

Recognition

Received Robert W. Campbell

Award by the National Safety

Council in 2014

Named one of the World’s

Most Ethical Companies by the

Ethisphere in 2015 for 8 years

in a row

Ranked No.15 for Top Diversity

Companies by DiversityInc. for

the 8th consecutive year

Scored perfect in Corporate

Equality Index by Human Rights

Campaign for the 10th straight

year in 2015

Cummins delivers power through our

innovation31

32

EPA regulates commercial vehicles

EPA alleges industry “cycle beating controls”

Signed consent decree

Cummins decided to commit to the deadline

1st company to meet US 2010 emission standards

Legacy of InnovationEmission History: challenge becomes opportunity

SuperTruck achieves important milestone

Unveiled New Comprehensive Environmental

Sustainability Plan

33

Investing in the Right Technologies

$750MR&D investment

Emission

Standards

Focused on delivering technology that is

clean sustainable dependable

34

To meet

greenhouse gas

standards

Patents in 2014New and updated

products in 2014

Recent Innovation

Recent Innovation

35

ISG

QuietConnect

& PowerConnect

5.0L V8 Turbo Diesel ISB 6.7

FFM SCR System QSK95

Generator Sets

Internal Use Only

36

We need to know our markets and individual customers

better than anyone else. We need to know our

technologies better than anyone else and we need to be

able to combine those so we can continue to

differentiate our products in the eyes of our customers.

----John Wall, Chief Technology Officer

“”

37

The Power of Cummins