Cummins Announces Acquisition of Energy Storage Technology

Brammo Acquisition Will Accelerate Electrification Platform

COLUMBUS, Ind.–(BUSINESS WIRE)–Cummins Inc. (NYSE: CMI) today announced that it is acquiring the assets
of Brammo, Inc., which designs and develops battery packs for mobile and
stationary applications. Adding Brammo’s battery pack expertise and
resources is an important milestone in Cummins’ efforts to become a
global electrified power leader.

"To be a leading provider of electrified power systems just as we are
with diesel and natural gas driven powertrains, we must own key elements
and subsystems of the electrification network," said Tom Linebarger,
Chairman and CEO, Cummins Inc. "By adding the expertise of Brammo and
its employees to Cummins, we are taking a step forward in our
electrification business and differentiating ourselves from our
competition. As always, when markets are ready, Cummins will bring our
customers the right power solution at the right time to power their
success."

Operations from this acquisition will report under Cummins’ recently
formed Electrification Business led by Julie Furber, Executive Director
of Electrification at Cummins, and will continue to be based in Talent,
Oregon. Founded in 2002, Brammo has made great strides in developing
electric energy storage technology for mobile and stationary
applications.

“Brammo’s expertise across a broad range of applications uniquely
positions us to enhance Cummins’ efforts to be a leader in the
electrified power space,” said Craig Bramscher, Chairman and CEO of
Brammo. “We see this as a very exciting opportunity to continue changing
the way the world moves and stores power.”

This acquisition adds to Cummins’ unmatched portfolio of solutions and
provides an entry point into new markets. In August, Cummins revealed a
fully electric heavy duty demonstration Urban Hauler Tractor.

This acquisition is subject to customary closing conditions and is
expected to close by the end of this calendar year.

About Cummins Inc.

Cummins Inc., a global power leader, is a corporation of complementary
business units that design, manufacture, distribute and service diesel
and natural gas engines and related technologies, including fuel
systems, controls, air handling, filtration, emission solutions and
electrical power generation systems. Headquartered in Columbus, Indiana,
(USA) Cummins currently employs approximately 55,400 people worldwide
and serves customers in approximately 190 countries and territories
through a network of approximately 600 company-owned and independent
distributor locations and approximately 7,400 dealer locations. Cummins
earned $1.39 billion on sales of $17.5 billion in 2016. Press releases
can be found on the Web at www.cummins.com.
Follow Cummins on Twitter at www.twitter.com/cummins
and on YouTube at www.youtube.com/cumminsinc.

Contacts

Cummins Inc.
Jon Mills, 317-658-4540
Director, External
Communications
[email protected]