1. Every Promise. Delivered.
Mid-America Truck Show
March 27, 2008

2. Welcome and Introductions
David Geraghty – Commercial Vehicle Engine
Business
Dan Davis – Emission Solutions – Global OEM
Business
Shawn Wasson – Auxiliary Power Unit Business,
Power Generation
2

3. Engine Segment
2007 Revenue by Market Application
Gaining market share in Stationary
on-highway markets Power 11%
Heavy-duty
Industrial markets truck 24%
Mining/Rail
supported by non- Govt/O&G
residential construction Marine 15%
and commodity markets
Expanding capacity to
meet growing demand
Construction Medium-duty
& Ag 18% Truck & bus 16%
2007 Segment Data
Light-duty
Sales: $8.2 billion Automotive
EBIT: $589 million & RV 16%
EBIT Margin: 7.2%
3

4. Cummins Delivers the Right Technology
– On Time, Every Time –
We developed the best solutions in the market for the
EPA07 emissions regulations
We were ready to go when the new rules demanded –
Again!
Customers prefer Cummins’ power
4

5. North American Heavy-Duty Truck Shipments
Engine Market Share*, January 2008
50
1998-2006 2007-2008 CMI
45
Annual Share Jan ‘08
40
44.0%
35
Cummins
30
Percent Share
DDC
Cat
25
Mack
Volvo
20
MBE
15
10
5
0
1998 1999 2000 2001 2002 2003 2004 2005 2006 Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan-
Total Total Total Total Total Total Total Total Total 07 07 07 07 07 07 07 07 07 07 07 07 08
5
* Wards NA Heavy Duty (Class 8 Group 2) Market Share

6. Market Share
0
10
20
30
40
50
60
70
2000
2001
2002
2003
2004
2005
2000 – 2005
Jan-06
Feb-06
Mar-06
Apr-06
Cummins
May-06
Jun-06
Jul-06
2006
Aug-06
Sep-06
Caterpillar
Oct-06
Nov-06
Dec-06
January 2008
Hino
Jan-07
Feb-07
Mar-07
MBE
Apr-07
May-07
Jun-07
Class 7 MDT Engine Market Share*
Jul-07
ITEC
2007
Aug-07
Sep-07
Oct-07
*Ward’s Class 7 NAFTA truck shipments
Nov-07
Dec-07
Jan-08
6

7. Designing For Medium-Duty Customers
Reliability
Total cost of ownership
Low maintenance
Power density
Overall Best Value
Sociability
Safe operation
Weight/space
Minimal driver training
Ease of operation
Information systems
Emissions compliance
7

8. Designing Engines For The
Heavy-Duty Market
High uptime
Low fuel consumption
Operational efficiency
High residual value
Lowest Cost of Ownership
High performance
Safe operation
Ease of operation
Driver satisfaction
Information systems
Sociability
Emissions compliance
8

9. Complementing Proprietary Offerings
We won’t compete
with our OEMs – we
help them sell more
trucks
9

10. The Right Technology
Integrated Technology to Meet EPA 2010
Mid-Range Heavy-Duty
Engines Engines
Customer
Diverse applications Uptime
Needs
Power range Operational efficiency
Best value Low cost of ownership
Evolution of 2007 technology Evolution of 2007 technology
Proven SCR aftertreatment No NOx aftertreatment
HD XPI fuel system
10

11. Cummins Emission Solutions
11

12. Components Segment
2007 Revenue by Product
New products launched Specialty Filtration
6%
Industry leading Air Intake
Systems
technology 9%
Turbocharger
Capacity expansion 29%
Acoustic
Grow with CMI and non- Exhaust
CMI engine volumes 10%
Leverage global
distribution to grow
aftermarket Engine Fuel
Filtration Systems
17% 14%
2007 Segment Data
Sales: $2.9 billion Catalytic Exhaust
EBIT: $153 million 15%
EBIT Margin: 5.2%
12

13. What We Do For Customers
Cost Effectively Solve
Their Emissions Challenges
with
World-Class Aftertreatment
Technology And Service
13

14. System Integration is Critical
Environment
Controls Integration
Vehicle, engine and aftertreatment . . .
a single system designed to optimize
performance, reliability, cost and emissions
14

15. Why Are Customers Responding?
The task is daunting
Functionality in ALL applications
Reliability
Durability
Serviceability
Integration with controls,
engines and vehicles
Noise
Safety
15

16. CES Capabilities
Design
Controls – hardware and software
Components – dosing systems
Reliability
Sourcing scale
16

17. Success For EPA2007 – Euro IV
– 10 engine platforms
– More than 100 vehicle
manufacturers
– Capacity for 200,000+ units
for medium-duty/heavy-duty
in North America
– Capacity for 150,000+ units
in Europe
– China, Brazil expansion
17

18. Leadership Position in Medium-duty /
Heavy-duty Truck Aftertreatment
EPA 2007 Market Share Euro 4 Market Share
4%
5%
10%
CES CES
16%
45% 27%
10%
12% 8%
19%
7%
22% 15%
18

19. Investing For The Future
– On-highway
• 2010
• Euro V / Euro VI
• Euro IV in Brazil, India, China
– Off-highway
• Tier 4 – North America,
Western Europe, Japan
19

20. Cummins Power Generation
Auxiliary Power Units
20

21. Power Generation Segment
2007 Revenue by Product
Capitalize on industry
Alternators
growth Commercial
20%
58%
Leverage existing
market leadership Rental
2%
Establish leadership in
all major markets
Consumer
Expand into new and 11%
adjacent markets
Power
Electronics
4%
2007 Segment Data Energy
Sales: $3.1 billion Solutions
5%
EBIT: $334 million
EBIT Margin: 10.9%
21

22. Expand Into New and Adjacent Markets
22

23. ComfortGuard APU System
Integrated system which eliminates the
need to idle the main vehicle engine
Reduces fuel consumption up to 80%,
compared to idling the main engine
Payback period of 1-2 years
Utilize proven small kw diesel platform
used in all Consumer markets
Successfully launched in 2007
– Considered among the market leaders by
end of first year
– Secured first fit availability with Volvo
Trucks N.A.
23

24. Cummins Poised for Growth, Even in
Down Market
APU Market Size APU Business connected to
35
North America Truck Market
30 Cummins channel more
Units (Thousands)
capable today
25
First fit sales with Volvo
20
CARB approval for Integrated
15
DPF solution, first approved
10 system
ComfortGuard is one part of
5
a portfolio of Cummins
0
solutions to address idling
2003 2006 2008E
24

25. Cummins Delivers the Right Technology
– On Time, Every Time –
We have developed the best solutions in the
market for the EPA ’07 and ‘10 emissions
regulations
Customers recognize Cummins for our technology
leadership and dependability
We are investing in the next generation of
profitable growth opportunities in global on-
highway markets
25

26. Thank You for Your Interest in
For Additional Information Contact:
Dean Cantrell, Director – Investor Relations
(812) 377-3121
Dean.A.Cantrell@Cummins.com
www.Cummins.com
26

27. Appendix

28. Cummins Inc.
2007 Revenue by Segment
Macro growth trends Components
Segment 19%
play to Cummins’
strengths Engine
Segment 52%
Disciplined
Distribution
investment for Segment 10%
growth
Demonstrated
technology
leadership
Power Gen
Segment 19%
2007 Data
Sales: $13.0 billion
EBIT: $1,227 million
EBIT Margin: 9.4%
28

29. Cummins Inc.
2007 Revenue by Marketing Territory
International revenue Africa/Middle East
Canada 5%
is 54% of consolidated 3%
revenue in 2007
Mexico/Latin
Most international America
9%
areas growing at
double digit rate
Demonstrates our United States
Asia/Australia
46%
19%
geographic diversity
Europe/CIS
18%
29

30. Cummins – Historical Performance
Sales EBIT
$13,048
$14,000 $1,400
$1,227
$1,179
$12,000 $1,200
$11,362
$9,918
$10,000 $1,000 $907
$8,438
$ Millons
$ Millons
$8,000 $800
$6,296
$543
$6,000 $600
$4,000 $400
$181
$2,000 $200
$0 $0
2003 2004 2005 2006 2007 2003 2004 2005 2006 2007
30

31. Engine Segment
2007 Revenue by Product
Emission regulations
Parts and
create opportunities Midrange
Service 21%
(3-9L) 40%
Emerging markets
Strategic OEM
partnerships
New engine platforms
Aftermarket revenue
High
creates stable earnings Horsepower
(19-91L) 17%
2007 Segment Data
Heavy-Duty
Sales: $8.2 billion (10-15L) 22%
EBIT: $589 million
EBIT Margin: 7.2%
31

32. Engine Segment
2007 Revenue by Market Application
Gaining market share in Stationary
on-highway markets Power 11%
Heavy-duty
Industrial markets truck 24%
Mining/Rail
supported by non- Govt/O&G
residential construction Marine 15%
and commodity markets
Expanding capacity to
meet growing demand
Construction Medium-duty
& Ag 18% Truck & bus 16%
2007 Segment Data
Light-duty
Sales: $8.2 billion Automotive
EBIT: $589 million & RV 16%
EBIT Margin: 7.2%
32

33. Engines – Historical Performance
Sales Segment EBIT
$9,000 $800
$733
$8,182
$8,000 $7,511 $700
$6,657 $589
$7,000 $582
$600
$6,000 $5,424 $500
$5,000
$M
$M
$400
$328
$4,000 $3,582
$300
$3,000
$200
$2,000
$100 $62
$1,000
$0 $0
2003 2004 2005 2006 2007 2003 2004 2005 2006 2007
33

34. Power Generation Segment
2007 Revenue by Product
Capitalize on industry
Alternators
growth Commercial
20%
58%
Leverage existing
market leadership Rental
2%
Establish leadership in
all major markets
Expand into new and Consumer
adjacent markets 11%
Power
Electronics
4%
Energy
Solutions
2007 Segment Data
5%
Sales: $3.1 billion
EBIT: $334 million
EBIT Margin: 10.9%
34

35. Power Generation – Historical Performance
Sales Segment EBIT
$3,500 $400
$3,060
$334
$350
$3,000
$300
$2,416
$2,500
$250 $220
$1,999
$2,000 $1,842 $200
$M
$M
$145
$150
$1,500 $1,329
$100
$60
$1,000
$50
$500
$0
($19)
$0 ($50)
2003 2004 2005 2006 2007 2003 2004 2005 2006 2007
35

36. Components Segment
2007 Revenue by Product
New products launched Specialty Filtration
6%
Air Intake
Industry leading Systems
technology 9%
Turbocharger
Capacity expansion 29%
Acoustic
Grow with CMI and non- Exhaust
CMI engine volumes 10%
Leverage global
distribution to grow
aftermarket Engine Fuel
Filtration Systems
17% 14%
2007 Segment Data Catalytic
Sales: $2.9 billion Exhaust
EBIT: $153 million 15%
EBIT Margin: 5.2%
36

37. Components – Historical Performance
Sales Segment EBIT
$180
$3,500
$153
$160
$2,932
$3,000
$140
$2,500 $2,281
$120
$107
$2,000
$2,000 $100
$1,783 $89
$M
$M
$86 $84
$80
$1,500 $1,292
$60
$1,000
$40
$500
$20
$0
$0
2003 2004 2005 2006 2007
2003 2004 2005 2006 2007
37

38. Distribution Segment
2007 Revenue by Product
Continue acquisitions, Service
17%
consolidations and
Engines
integrations 21%
Leverage Cummins
equipment growth
World-class
customer support
Build capabilities – invest
in growing regions Power
Parts,
Generation
Filters, &
2007 Segment Data 25%
Consumables
Sales: $1.5 billion 37%
EBIT: $187 million
EBIT Margin: 12.1%
38

39. Distribution – Historical Performance
Sales Segment EBIT
$1,800 $200 $187
$180
$1,540
$1,600
$1,385 $160
$1,400 $144
$1,191 $140
$1,200
$120
$973 $107
$1,000
$M
$M
$100
$800 $79
$669 $80
$600
$60 $51
$400 $40
$200 $20
$0 $0
2003 2004 2005 2006 2007 2003 2004 2005 2006 2007
39

40. Joint Venture Sales Unconsolidated
Engines Distribution
$2,500 $4,000
$3,435
$3,500
$1,940
$2,000
$3,000
$2,497
$1,474 $2,500
$1,500
$ Millions
$ Millions
$1,316
$1,232 $1,285
$2,000
$1,715
$529
$1,000
$1,500
$1,204
$1,029
$1,000
$500
$500
$0 $0
2003 2004 2005 2006 2007 2003 2004 2005 2006 2007
In 2003, sales from certain JVs (colored red above) were treated
as unconsolidated; adoption of FIN 46R in 2004 required the
40
company to consolidate the results of certain JVs.

41. Joint Venture Sales Unconsolidated
Power Generation Components
$180 $200
$166
$162 $175
$180
$160
$160
$140 $130
$140
$120 $123
$105
$120 $110
$ Millions
$ Millions
$100
$94
$100
$80 $72
$72
$80
$60
$60
$40 $40
$20 $20
$0 $0
2003 2004 2005 2006 2007 2003 2004 2005 2006 2007
41

42. Non-GAAP
Reconciliations

43. Non-GAAP Reconciliation – EBIT
Years Ended
Millions 2003 2004 2005 2006 2007
EBIT $ 181 $ 543 $ 907 $ 1,179 $ 1,227
Less: Interest Expense $ 90 $ 111 $ 109 $ 96 $ 58
Earnings before income taxes $ 91 $ 432 $ 798 $ 1,083 $ 1,169
and minority interests
We define EBIT as earnings before interest expense, provision for income taxes and minority interests in earnings of
consolidated subsidiaries. We use EBIT to assess and measure the performance of our operating segments and also as a
component in measuring our variable compensation programs. The table above reconciles EBIT, a non-GAAP financial
measure, to our consolidated earnings before income taxes and minority interests, for each of the applicable periods.
We believe EBIT is a useful measure of our operating performance for the periods presented as it illustrates our operating
performance without regard to financing methods, capital structure or income taxes. This measure is not in accordance with,
or an alternative for, accounting principles generally accepted in the United States of America (GAAP) and may not be
consistent with measures used by other companies. It should be considered supplemental data.
43