TEREX ANNOUNCES FIRST QUARTER 2014 RESULTS

WESTPORT, CT, April 30, 2014 – Terex Corporation (NYSE: TEX) today announced income from continuing operations of $32.6 million, or $0.28 per share for the first quarter of 2014, as compared to income from continuing operations of $19.3 million, or $0.17 per share for the first quarter of 2013. Excluding the impact of certain items totaling $5.8 million, or $0.05 per share, income from continuing operations as adjusted in the first quarter of 2013 was $25.1 million, or $0.22 per share. The glossary at the end of this press release contains details regarding the impact of certain items in the first quarter of 2013.

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Net sales were $1,654.6 million in the first quarter of 2014, flat with the $1,653.7 million in the first quarter of 2013. Income from operations was $75.0 million in the first quarter of 2014, an improvement of $9.4 million when compared to income from operations of $65.6 million in the first quarter of 2013. Excluding the impact of certain items totaling $6.1 million, income from operations as adjusted in the first quarter of 2013 was $71.7 million.

“We remain encouraged by the performance of our Aerial Work Platform (AWP) segment, which delivered excellent results in the first quarter,” commented Ron DeFeo, Terex Chairman and Chief Executive Officer. “Performance across our remaining businesses was mixed. The Materials Processing (MP), Construction and Material Handling & Port Solutions (MHPS) segments all delivered quarters roughly in-line with our expectations. While both the MHPS and Construction segments had an operating loss in the quarter, we planned for and continue to expect better operating results from these businesses for the balance of 2014. Our Cranes segment had a disappointing first quarter, but recent order trends suggest improvements as the year progresses, particularly in the second half of the year.”

Outlook: “The Company’s overall outlook for 2014 has not changed,” Mr. DeFeo added. “We expect continued strength from our AWP segment and improvement from our other segments throughout the remainder of 2014. We reiterate our annual outlook for earnings per share of between $2.50 and $2.80, excluding restructuring and other unusual items, on net sales of between $7.3 billion and $7.7 billion. Terex remains focused on improving profit through organic means, integrating the businesses more thoroughly, and generating free cash flow.”

Capital Structure: “Capital allocation activities within the quarter proceeded as planned” commented Kevin Bradley, Terex Senior Vice President and Chief Financial Officer. “During the quarter we completed the squeeze out of minority shares of Terex Material Handling & Port Solutions AG for $71 million. We also repurchased $33 million of Terex Corporation shares within the quarter for a cumulative total of $63 million since the inception of the program in December 2013."

The Company’s liquidity at March 31, 2014 decreased by $104.4 million compared to December 31, 2013 and totaled $631.8 million, which was comprised of cash balances of $390.5 million and borrowing availability under the Company’s revolving credit facilities of $241.3 million. Return on Invested Capital (ROIC) was 8.6% for the trailing twelve months ended March 31, 2014.

Taxes: The effective tax rate for the first quarter of 2014 was 26.7% as compared to an effective tax rate of 45.2% for the first quarter of 2013. The lower effective tax rate in the first quarter of 2014 was primarily due to the reduced impact of losses not benefited and greater benefit from uncertain tax provision releases than the first quarter of 2013. The Company still expects the effective tax rate to be between 33% and 35% for 2014.

Backlog: Backlog for orders deliverable during the next twelve months was $2,363.7 million at March 31, 2014, an increase of 29.3% from December 31, 2013 and an increase of 10.3% from March 31, 2013. Backlog for all segments increased sequentially with AWP and Cranes being the largest contributors to the increase. The Glossary contains further details regarding backlog.

Conference call

The Company has scheduled a one hour conference call to review the financial results on Thursday, May 1, 2014 at 8:30 a.m. ET. Ronald M. DeFeo, Chairman and CEO, will host the call. A simultaneous webcast of this call will be available on the Company’s website, www.terex.com. To listen to the call, select “Investor Relations” in the “About Terex” section on the home page and then click on the webcast microphone link. Participants are encouraged to access the call 10 minutes prior to the starting time. The call will also be archived on the Company’s website under “Audio Archives” in the “Investor Relations” section of the website.