Subsidiary Guarantors

The following tables present condensed consolidated financial information of continuing operations as of January 25, 2013 and October 26, 2012 and for the quarters ended January 25, 2013 and January 27, 2012 for: (a) the Company; (b) on a combined basis, the guarantors of the Term Loan and 2016 Notes and 2036 Notes issued in November 2006, which include the significant domestic operations of Joy Technologies LLC, P&H Mining Equipment Inc., N.E.S. Investment Co., Continental Crushing & Conveying Inc., LeTourneau Technologies LLC, and certain immaterial wholly owned subsidiaries of LeTourneau Technologies LLC (the “Subsidiary Guarantors”); and (c) on a combined basis, the non-guarantors, which include all of our foreign subsidiaries and a number of small domestic subsidiaries (the “Non-Guarantor Subsidiaries”).

The borrowings are fully and unconditionally guaranteed on a joint and several unsecured basis by the Subsidiary Guarantors, which are direct and indirect 100% owned subsidiaries of the Company. We conduct all of our business and derive essentially all of our income from our subsidiaries. Therefore, our ability to make payments on the obligations is dependent on the earnings and distribution of funds from our subsidiaries. There are no restrictions on the ability of any of our domestic subsidiaries to transfer funds to the parent company. Separate financial statements of the Subsidiary Guarantors are not presented because we believe such separate statements or disclosures would not be useful to investors.

Condensed Consolidating Statements of Income

Quarter ended January 25, 2013

(In thousands)



	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	604,662		$	873,815		$	(328,600	)	$	1,149,877
Cost of sales	—			417,652			614,111			(258,614		)	773,149
Product development, selling and administrative expenses	12,802			74,444			70,035			—			157,281
Other (income) expense	—			9,052			(10,757		)	—			(1,705		)
Operating income (loss)	(12,802		)	103,514			200,426			(69,986		)	221,152
Intercompany items	31,120			(19,848		)	(35,657		)	24,385			—
Interest income (expense), net	(22,570		)	71			7,346			—			(15,153		)
Income (loss) from continuing operations before income taxes and equity	(4,252		)	83,737			172,115			(45,601		)	205,999
Provision (benefit) for income taxes	(9,276		)	56,257			16,879			—			63,860
Equity in income of subsidiaries	137,115			92,701			—			(229,816		)	—
Income from continuing operations	$	142,139		$	120,181		$	155,236		$	(275,417	)	$	142,139

Quarter ended January 27, 2012

(In thousands)



	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	708,243		$	751,944		$	(323,986	)	$	1,136,201
Cost of sales	—			489,349			537,889			(254,462		)	772,776
Product development, selling and administrative expenses	26,995			82,703			61,658			—			171,356
Other (income) expense	—			7,864			(29,541		)	—			(21,677		)
Operating income (loss)	(26,995		)	128,327			181,938			(69,524		)	213,746
Intercompany items	14,723			(7,435		)	(32,753		)	25,465			—
Interest income (expense), net	(16,693		)	102			514			—			(16,077		)
Income (loss) from continuing operations before income taxes and equity	(28,965		)	120,994			149,699			(44,059		)	197,669
Provision (benefit) for income taxes	(13,242		)	47,367			21,025			—			55,150
Equity in income of subsidiaries	158,242			57,563			—			(215,805		)	—
Income from continuing operations	142,519			131,190			128,674			(259,864		)	142,519
Income from continuing operations attributable to noncontrolling interest	(109		)	$	—		$	(109	)	$	109		$	(109	)
Income from continuing operations attributable to Joy Global Inc.	$	142,410		$	131,190		$	128,565		$	(259,755	)	$	142,410

Condensed Consolidating Balance Sheets:

As of January 25, 2013

(In thousands)



	Parent Company			Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets	$	136,126		$	1,146,315	$	2,059,427	$	(205,087	)	$	3,136,781
Property, plant and equipment, net	13,221			382,830		468,743		—			864,794
Intangible assets, net	—			816,809		1,169,100		—			1,985,909
Other assets	4,223,489			2,558,668		1,961,199		(8,554,042		)	189,314
Total assets	$	4,372,836		$	4,904,622	$	5,658,469	$	(8,759,129	)	$	6,176,798
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities	$	111,417		$	699,601	$	974,527	$	(69,085	)	$	1,716,460
Long-term debt	1,293,098			1,102		—		—			1,294,200
Accrued pension costs	279,112			6,445		7,066		—			292,623
Other non-current liabilities	(23,340		)	10,393		173,913		—			160,966
Total liabilities	1,660,287			717,541		1,155,506		(69,085		)	3,464,249
Shareholders’ equity	2,712,549			4,187,081		4,502,963		(8,690,044		)	2,712,549
Total liabilities and shareholders’ equity	$	4,372,836		$	4,904,622	$	5,658,469	$	(8,759,129	)	$	6,176,798

As of October 26, 2012

(In thousands)



	Parent Company			Subsidiary Guarantors		Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current assets	$	97,443		$	1,145,051	$	2,134,636		$	(221,053	)	$	3,156,077
Property, plant and equipment, net	12,515			378,274		442,073			—			832,862
Intangible assets, net	—			818,435		1,153,147			—			1,971,582
Other assets	4,178,760			2,528,849		1,803,046			(8,328,673		)	181,982
Total assets	$	4,288,718		$	4,870,609	$	5,532,902		$	(8,549,726	)	$	6,142,503
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities	$	106,207		$	704,191	$	1,038,751		$	(81,479	)	$	1,767,670
Current liabilities of discontinued operations	—			46,693		(33,546		)	—			13,147
Long-term debt	1,305,413			1,212		—			—			1,306,625
Accrued pension costs	322,310			6,589		6,914			—			335,813
Other non-current liabilities	(22,401		)	10,205		154,255			—			142,059
Total liabilities	1,711,529			768,890		1,166,374			(81,479		)	3,565,314
Shareholders’ equity	2,577,189			4,101,719		4,366,528			(8,468,247		)	2,577,189
Total liabilities and shareholders’ equity	$	4,288,718		$	4,870,609	$	5,532,902		$	(8,549,726	)	$	6,142,503

Condensed Consolidating Statements of Cash Flows:

Quarter ended January 25, 2013

(In thousands)



	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Consolidated
Net cash provided by operating activities of continuing operations	$	51,491		$	11,155		$	29,419		$	92,065
Net cash used by operating activities of discontinued operations	—			—			(1,571		)	(1,571		)
Net cash provided by operating activities	51,491			11,155			27,848			90,494
Net cash used by investing activities	(1,449		)	(14,095		)	(36,198		)	(51,742		)
Net cash used by financing activities	(26,508		)	(104		)	(4,598		)	(31,210		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(1,520		)	(1,520		)
Increase (decrease) in cash and cash equivalents	23,534			(3,044		)	(14,468		)	6,022
Cash and cash equivalents at beginning of period	3,459			6,628			253,786			263,873
Cash and cash equivalents at end of period	$	26,993		$	3,584		$	239,318		$	269,895

Quarter ended January 27, 2012

(In thousands)



	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Consolidated
Net cash (used) provided by operating activities of continuing operations	$	(19,035	)	$	28,333		$	(23,442	)	$	(14,144	)
Net cash used by operating activities of discontinued operations	—			—			(4,363		)	(4,363		)
Net cash (used) provided by operating activities	(19,035		)	28,333			(27,805		)	(18,507		)
Investing Activities:
Acquisition of controlling interest in International Mining Machinery, net of cash acquired	(589,686		)	—			75,925			(513,761		)
Withdrawal of cash held in escrow	589,686			—			—			589,686
Other investing activities	(1,641		)	(31,666		)	(15,977		)	(49,284		)
Net cash (used) provided by investing activities	(1,641		)	(31,666		)	59,948			26,641
Net cash used by financing activities	(6,799		)	(100		)	(4,221		)	(11,120		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(2,089		)	(2,089		)
(Decrease) increase in cash and cash equivalents	(27,475		)	(3,433		)	25,833			(5,075		)
Cash and cash equivalents at beginning of period	100,181			16,152			171,988			288,321
Cash and cash equivalents at end of period	$	72,706		$	12,719		$	197,821		$	283,246