Q1 Consolidated revenues of $5,342 million (up 15% compared to Q1 2022)

Net income of $486 million and Adjusted Net Income of $475 million, with diluted EPS and adjusted diluted EPS of $0.35 (adjusted diluted EPS of $0.28 in Q1 2022)

Net cash used by operating activities of $701 million and Industrial Free Cash Flow absorption of $673 million

Net sales for Industrial Activities of $4,776 million (up $596 million compared to Q1 2022)

Net sales guidance for FY 2023 updated to an increase of 8-11% vs. 2022 on strong North America row crop demand, continued pricing strength and a solid order backlog

Financial results presented under U.S. GAAP

“I am incredibly proud of our team for again delivering record results as demand for large Agriculture equipment remains robust and we are escalating production to meet customer needs. Our Construction performance is progressing well, especially in North America where backlog supports continued growth. We announced three key acquisitions this quarter, bolstering our strong precision agriculture and alternative fuel portfolios. Our lean enterprise and strategic sourcing programs are creating a simpler, more effective company. These and other investments are making us better for our customers, strengthening my conviction that our future is bright.”

Scott W. Wine, Chief Executive Officer