1

CEO Business OverviewDecember 2017 – January 2018

2

Safe Harbor Statement & Disclosures

This presentation includes forward-looking comments subject to important risks and uncertainties. It may also contain financial measures that are not in conformance with accounting principles generally accepted in the United States of America (GAAP).

Refer to Deere’s reports filed on Forms 8-K (current), 10-Q (quarterly), and 10-K (annual) for information on factors that could cause actual results to differ materially from information in this presentation and for information reconciling financial measures to GAAP. Past performance may not be representative of future results.

Guidance noted in the following slides was effective as of the company’s most recent earnings release and earnings call (22 November 2017). Nothing in this presentation should be construed as reaffirming or disaffirming such guidance.

This presentation is not an offer to sell or a solicitation of offers to buy any of Deere’s securities.

3

Table of ContentsSlide

Summary Message 4

John Deere Strategy 18

Use-of-Cash 29

Supplemental InformationGlobal Markets 34John Deere Financial Services 45Agriculture Fundamentals 50Construction & Forestry Fundamentals 56

Appendix 60

4

Summary Message

5

“Deere’s ability to deliver consistently strong financial results is proof of our success building a more durable business model. Even as we find continued ways to

make our operations more efficient and profitable, we are focused on the future through investments in technology and advanced products and selective acquisitions that complement our strengths

and expand our global presence.”

- Sam Allen, Chairman and CEO

6

-$3

$0

$3

$5

$8

$10

-$10

$0

$10

$20

$30

$40

1981 1985 1989 1993 1997 2001 2005 2009 2013 2017

Per Share$

Bill

ions

Net Sales Diluted EPS

Strong EPS* performance during recent downturn− U.S. & Canada Large Ag** industry down ~ 60% in 2016 vs. 2013

Net Sales and Diluted EPSDeere & Company

* Earnings Per Share** Tractors > 220 hp and combinesSource: Association of Equipment Manufacturers, October 2016

7

Exceptional Operating Performance – SVAEquipment Operations

* Shareholder Value Added; for reconciliation to GAAP see “SVA* Reconciliation to GAAP” slide in Appendix

$1.2 billion SVA* in 2017

-$2,000

-$1,000

$0

$1,000

$2,000

$3,000

$4,000

1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017

$ M

illio

ns

Adoption of SVA Model

8

Exceptional Operating Performance – Net Cash FlowEquipment Operations

* Shareholder Value AddedNote: Over $8 billion in Pension/OPEB contributions from 2001-2017

$2.4 billion Net Cash Flow in 2017

$0

$1,000

$2,000

$3,000

$4,000

$5,000

1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017

$ M

illio

ns

Sale of Trade Receivables to John Deere Financial

Adoption of SVA* Model

9

Net Sales by Product CategoryAgriculture & Turf – Fiscal 2013 vs. Fiscal 2017

Fiscal 2013Agriculture & Turf

$29.1 billion

Fiscal 2017Agriculture & Turf

$20.2 billion

Small Ag

Turf Turf

Large Ag

Small Ag

Large Ag

Other

10

Fiscal 2018 ForecastEquipment Operations

($ billions except where noted)Fiscal 2018Forecast*

Net Sales ~ 22%

Price realization

Currency translation

Wirtgen

~ 1 point

~ 2 points

~ 12 points

Net Income (attributable to Deere & Company) ~ $2.6

Cash Flow (from operations) ~ $3.8

* Includes estimated data based on the 1Q 2018 close of the Wirtgen acquisitionSource: Deere & Company forecast as of 22 November 2017

11

Investment in New Products and Technologies

Source: Deere & Company and competitor SEC filings

0%

2%

4%

6%

8%

$0

$300

$600

$900

$1,200

$1,500

$1,800

2003 2005 2007 2009 2011 2013 2015 2017

Deere R&D $ Deere % Competitor A % Competitor B %

Consistently spending at or above competition on technology and innovation

R&D as Percent of Net Sales

$ M

illio

ns

12

Precision AgThe Future of Farming Has Always Been Led by John Deere

Our commitment to game-changing innovation makes farming easier, smarter and more precise

13

Wirtgen Acquisition

– Strategic rationale: allows market entrance into road construction equipment, providing greater exposure to the transportation sector and enhancing global presence for Deere construction segment

– Timing: acquisition completed 1 December 2017

14

Transaction provides greater exposure to transportation infrastructure, a faster growing, less cyclical sector than broader construction

− Attractive margin opportunity with significant growth tailwinds

− Road construction AND repair emphasized in many countries, resulting in a large installed base of equipment

Road Construction Equipment Spend Construction vs. Transportation Spend

50

100

150

200

250

300

2004 2006 2008 2010 2012 2014Spe

ndin

g In

dex

(200

4=10

0)

Total Construction Spending Total Transporatation Spending

Source: BCG; indexed using 2016 figures Source: IHS Global Insight

0

50

100

150

200

2016 2017E 2018E 2019E 2020E 2021E 2022E

Total Transportation Spending

Wirtgen AcquisitionAttractive Industry Fundamentals

15

Acquisitions

Blue River Technology– Strategic rationale: accelerates implementation of machine

learning technology that enables farm management decisions at the plant level

– Timing: acquisition completed 12 September 2017

Mazzotti– Strategic rationale: accelerates European market reach with

innovative spraying equipment and adds engineering expertise– Timing: acquisition completed 26 June 2017

16

Integration Update

Monosem– Strategic rationale: accelerates European market reach in

precision planting equipment and adds engineering expertise– Timing: acquisition completed 3 February 2016– Integration Update: Deere Gen 4 Display in Monosem brand;

leveraging/combining Deere and Monosem technologies to address additional market opportunities; Deere and Monosem collaboration on cultivator earned silver medal at Agritechnica 2017

Hagie Manufacturing– Strategic rationale: allows market entrance into high-clearance

spraying equipment that extends window for applying nutrients– Timing: Joint Venture announced 29 March 2016; Deere acquired

80% ownership of Hagie Manufacturing– Integration Update: Deere engines in STS14 & STS16; factory-

installed Precision Ag technology

17

“We’re confident these steps put Deere in prime position tobenefit from the world’s increasing need for food, shelter and infrastructure and provide value to customers and investors for years to come.”

- Sam Allen, Chairman and CEO

18

John Deere Strategy

19

Population growing in size and affluence– By 2050, world population will reach ~ 9.8 billion, up from ~ 7.6 billion today– Large middle class emerging in China, India and other parts of Asia

Opportunity #1: Feeding the world– Agricultural output needs to nearly double over the first half of the century– Natural resources under strain, especially water and land

Opportunity #2: Massive urbanization– Migration from rural areas creates need for infrastructure development– By 2050, nearly 70% of the global population will live in urban areas, up from

more than 50% today

Long-Term Macroeconomic Tailwinds – Still Intact

Source: UN, June 2017

20

21

Easier. Smarter. More Precise.Bigger. Faster. Stronger.

Precision AgricultureTraditional Agriculture

22

Better machine performance

Precision AgEquipment + Technology + Services

Better job performance Better agronomic decisions

– Ensure machines function as expected– Maximize machine performance & uptime

− John Deere Connected Support uses predictive analytics to generate notifications and repair instructions to minimize machine downtime

– Ease of use increases operator consistency

– Achieve quality outcomes for each job– Coordinate machines to execute jobs more

effectively and efficiently– Monitor job progress and adjust

operational plans in near real time

– See, collaborate and direct information when needed and where needed with an online set of tools

– Automate collection and transfer of data from the machine to platform

– Manage the farm from anywhere and any device

23

+Precision Ag Equipment

Precision Ag Technology

Differentiated Dealer Channel+ =

23

24

Innovative New ProductsLarge Ag Equipment

S700 Series Combine– Combine Advisor™ automatically adjusts settings to maintain ideal

performance target as conditions change– Gen 4 CommandCenter™ 4600 display provides superior user-friendly interface– ActiveYield™ eliminates time-consuming manual yield sensor calibration

2230 Field Cultivator/ 2330 Mulch Finisher– Increased working widths up to 69’6” and working speed up to 10 mph,

covering more acres per day during critical tillage and planting windows– Delivers level, smooth finish for accurate seed placement and even emergence– TruSet™ tillage technology allows depth and pressure adjustment from cab

CP690 Cotton Picker / CS690 Cotton Stripper– Integrated moisture sensing technology and round module weighing provide

real time crop data to the operator– Onboard Harvest ID, Cotton Pro™ and RFID tags embedded within the round

module wrap allow for transfer of crop data wirelessly, providing traceability from the field to ginned bale

25

Innovative New ProductsTractors

5R Series Tractors– 4 models (90 to 125 HP); unique combination in the less than 130 HP

segment: comfort, compactness, and capability– Proven world-record fuel efficiency (diesel only) measured by the DLG

(Powermix); “best-ever” result under 150 HP segment

3036EN Tractors– Narrow platform tractor; well-suited for India vineyard & orchard farming– Best-in-class fuel efficiency; excellent combination of power & efficiency– Well-positioned vs. competition in target segment

2025R Tractors– Mower deck can be installed and removed 3 times faster than competition– 37% increase in back-up speed allows users to mow and push snow faster– Increased comfort, ease of use, and versatility

26

Innovative New ProductsSmall Ag, Turf and Utility Equipment

0 Series Round Balers– MegaWideHC2: 2.2 meter precutter for 4-ft and industry first for 5-ft balers;

precut bales reduce time for processing hay and maintaining feed quality– MegaWideHC2 feed system, larger baffle, twin rotor, self-cleaning drop floor

increases throughput to get hay up in the critical window to maximize quality

100 Series Lawn Tractors– Most comfortable lawn tractor in its class– Patented Easy Change: 30-second oil change system with no tools and no mess– Exclusive cut height adjustment that makes it easier to get on and off tractor

XUV 835/865 Series– Fully-integrated operator station; best-in-class HVAC and comfort– Outstanding terrain stability and ride control, cargo volume, and cargo

management – Available in gas and diesel fuel

27

Innovative New ProductsConstruction Equipment

950K Crawler Dozer– Expands Production Class Dozer line-up with a second offering available in

both outside-dozer and power-angle-tilt (PAT) configurations – 950K PAT is the industry’s largest six-way blade with the capability for

mass excavation combined with the versatility to finish grade

620G/GP and 622G/GP Motor Graders– Broadens the motor grader line-up with two economical models targeted for

smaller contractors and municipalities – Dual joystick controls provide precision and comfort during operation as well

as customer choice of three control types

1050K PL Crawler Dozer (Pipelayer-Ready)– Purpose-built pipelayer-ready crawler dozer ships from the factory ready to

accept the customer’s choice of side boom– Features a bolt-on design that simplifies side boom installation, improving

reliability and reducing setup times

28

Innovative New ProductsForestry Equipment

L-Series Skidder – Gen 1.5– Horsepower increases across all models has positioned Deere as the most

powerful skidder on the market– New 17.5 ft2 grapple is a popular option for 748L customers and delivers

the largest range of grapple sizes on the market

1110/1210/1510G Forwarder– Timbermatic™ F-16 or CommandCenter™ control system, more powerful,

efficient engines for improved productivity and lower daily operating costs– Configurable joystick patterns have increased adoption of Intelligent Boom

Control™ for North American operators

2144G DHSP Swing Machine– Purpose built in Brazil for working in Latin American eucalyptus plantations,

the 2144G offers power and agility ideally suited for this application– 6.8 liter engine, durable undercarriage, and best-in-class cab design with

superior visibility help to differentiate this machine

29

Use-of-Cash

30

Manage the balance sheet, including liquidity, to support a rating that provides access to low-cost and readily available short- and long-term funding mechanisms Reflects the strategic nature of our financial services operation

Committed to “A” Rating

Cash from Operations

Fund Operating and Growth Needs

Common Stock Dividend

Share Repurchase

Fund value-creating investments in our businesses

Consistently and moderately raise dividend targeting a 25%-35% payout ratio of mid-cycle earnings

Consider share repurchase as a means to deploy excess cash to shareholders, once above requirements are met and repurchase is viewed as value-enhancing

Deere Use-of-Cash Priorities

31

$0.11

$0.28

$0.60

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

$0.70

2004 2005 2006 2007* 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Deere Quarterly Dividends Declared 1Q 2004 – 4Q 2017

* Adjusted for 2 for 1 stock split on 26 November 2007

Dividend raised 114% since 2010

32

Share RepurchaseAs Part of Publicly Announced Plans

* All shares adjusted for two-for-one stock split effective 26 November 2007

2004–2017:Cumulative cost of repurchases $16.4 billionShares repurchased 245.0 millionAverage repurchase price $66.96

December 2013 authorization of $8 billion:Amount remaining $3.3 billion

29 October 2017 period ended basic shares 321.8 million2017 average diluted shares 323.3 million

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

0

10

20

30

40

2005 2007 2009 2011 2013 2015 2017

$ Billions

Mill

ions

of Sha

res*

Shares Repurchased Amount Spent

Share Repurchase

35% net share reduction since 2004

33

$4,287$8,168

$37,440

$665 $146

$10,652

$1,345

$7,848

$13,904

$621

$0

$10,000

$20,000

$30,000

$40,000

$50,000

Beginning Cash& Cash

Equivalents(Fiscal 2004)

Cash FromOperations

Divestitures,net of

Acquisitions

Net Change inDebt and

IntercompanyBalances

CapitalExpenditures

Investment inFinancialServices

Dividends ShareRepurchase, net

of CommonStock Issuances

Other* Ending Cash &Cash

Equivalents(Fiscal 2017)

Sources and Uses of Cash Fiscal 2004-2017Equipment Operations

$ M

illio

ns

~ 58% of cash from operations returned to

shareholders

* Other includes proceeds from maturities and sales of marketable securities and purchases of marketable securities and reconciliation for non-cash items including the effect of exchange rates on cash and cash equivalentsNote: “Cash from Operations” adjusted with the adoption of FASB ASU No. 2016-09 “Improvements to Employee Share-Based Payment Accounting”Source: Deere & Company SEC filings

= Source of Cash= Use of Cash

34

Global Markets

35

Net Sales by Major MarketsEquipment Operations

$ Billions* U.S. & Canada not to scale with other markets

$17.4

$20.8$21.8

$20.2

$16.6$14.5 $15.1

2011 2012 2013 2014 2015 2016 2017

U.S. & Canada*

$4.4 $4.3 $4.4 $4.4$3.3 $3.2 $3.3

2011 2012 2013 2014 2015 2016 2017

Western Europe

$3.6 $3.6$4.3 $4.1

$2.4 $2.4$3.2

2011 2012 2013 2014 2015 2016 2017

Latin America

$1.9 $2.1 $2.1 $2.0 $1.9 $1.4 $1.7

2011 2012 2013 2014 2015 2016 2017

Asia, Africa & Middle East

$1.4 $1.7 $1.6 $1.4 $1.0 $1.2 $1.7

2011 2012 2013 2014 2015 2016 2017

Central Europe & CIS

$0.8 $1.0 $0.8 $0.8 $0.6 $0.7 $0.9

2011 2012 2013 2014 2015 2016 2017

Asia Pacific, Australia & New Zealand

36

U.S. and CanadaFactory Locations

Iowa, USA• Cotton Harvesting Equipment• Planting Equipment• Spraying Equipment• Tillage Equipment• Ag Tractors• Components• Foundry• Engines• Hay & Forage Equipment• Articulated Dump Trucks• 4WD Loaders• Motor Graders• Skidders• Wheeled Feller Bunchers• Backhoes• Compact Tracked Loaders• Crawler Dozers• High-Speed Dozers• Knuckleboom Loaders• Skid Steer Loaders• Tracked Feller Bunchers• Tracked Harvesters• High Clearance Sprayers (JV)

British Columbia, Canada• Log Loaders & Specialty Products

Alberta, Canada• Remanufactured Components

North Dakota, USA• Air Seeding Equipment• Electronics• Tillage Equipment

Wisconsin, USA• Lawn & Garden Equipment• Utility Vehicles• Golf & Turf Reel Mowers

Illinois, USA• Combine Harvesters• Headers• Planting Equipment• Hydraulic Cylinders

Tennessee, USA• Lawn Tractors

North Carolina, USA• Commercial Mowers• Golf & Turf Mowers• Utility Vehicles• Hydraulic Excavators

Georgia, USA• Utility Tractors• Compact Utility Tractors

Louisiana, USA• Sugarcane Harvesting Equipment• Tractor Loaders• Scrapers• Cotton Strippers

Missouri, USA• Remanufactured Components

Kansas, USA• Power Transmission Equipment

California, USA• Satellite Receivers

37

EU 28Factory Locations

Joensuu, Finland• Wheel Forwarders• Wheel Harvesters• Forestry Attachments

GermanyMannheim• Tractors

Zweibrücken• Combines & Forage Harvesters

Stadtlohn• Headers

Bruchsal• Tractor & Harvesting Cabs

Gummersbach• Walk-Behind & Autonomous Mowers

Windhagen• Wirtgen Milling Machines, Concrete Paving, Recyclers, Surface Miners

Tirschenreuth• Hamm Compactors

Ludwigshafen• Vögele Asphalt Paving

Göppingen • Kleemann Crushers & Screens

Mulheim• Benninghoven Asphalt Plants

Madrid, Spain• Components

Arc-les-Gray, France• Balers• Ag Loaders

Largeasse, France• Planting Equipment

Saran, France• Engines

Horst, The Netherlands• Spraying Equipment

Ravenna, Italy• Sprayers

38

BrazilFactory Locations

Catalão, Brazil• Sugarcane Harvesters• Sprayers

Indaiatuba, Brazil• Backhoe Loaders• 4WD Loaders• Motor Graders• Excavators (JV)

Montenegro, Brazil• Tractors

Horizontina, Brazil• Combine Harvesters• Planters

Porto Alegre, Brazil• Wirtgen Milling Machines• Vögele Pavers• Hamm Rollers• Ciber Pavers• Ciber Asphalt Mixing Plants

39

CISFactory Locations

Domodedovo, Russia• Tractors• Combine Harvesters• Motor Graders

Orenburg, Russia• Seeding Equipment• Tillage Equipment

40

ChinaFactory Locations

Jiamusi, China• Combine Harvesters• Cotton Pickers

Tianjin (TEDA), China• 4WD Loaders• Excavators• Engines (85-254 hp)• Tractors (85-320 hp)

Ningbo, China• Tractors (30-55 hp)• Cane Harvesters

Langfang, China• Wirtgen Milling Machines• Vögele Asphalt Paving• Hamm Rollers

41

IndiaFactory Locations

Pune, India• Engines• Transmissions• Tractors (36-75 hp)• Electronics• Hamm Compactors• Kleemann Screens

Sirhind, India• Combine Harvesters

Dewas, India• Tractors (36-50 hp)

42

Other RegionsFactory Locations

Ramos, Mexico• Ag Loaders• Compact Utility Tractor Loaders• Utility Tractor Cabs• Hydraulic Cylinders

Monterrey, Mexico• Rotary Cutters• Implements• Components

Saltillo, Mexico• Ag Tractors• TransaxlesTorreon, Mexico

• Axles• Engines• Electronics

Rosario, Argentina• Engines• Tractors• Combines

Kibbutz Beit Hashita, Israel• Cotton Picker Components

Tokoroa, New Zealand• Forestry Harvester Heads

43

Worldwide Parts ServicesSupporting the Growth of Our Equipment Operations

Highlights:– Miami, Florida (United States)

– Directly supports the Latin America dealer network, operational November 2017

– China footprint– Strategic distribution locations to support

China market, operational 2016

– Campinas, Brazil– Expansion of existing facility, operational

March 2015

Anchor Parts Distribution CentersRegional Parts Distribution Centers or Depots

44

Engine Emissions2018 Worldwide Off-Road Emissions Regulations > 75 hp

Stage II/Tier 2

Stage IIIA/Tier 3/TREM 3A/MAR 1/China NR III

Stage IV/Final Tier 4 (> 75-750 hp)

* Includes some non-EU28 countries that follow EU28 emissions regulations

U.S. and CanadaFinal Tier 4

RussiaAg tractors: Stage II

EU28*Stage V – starting 2019

ChinaChina NR III

IndiaTREM 3A >50hp

BrazilMAR 1:• Construction equipment• Ag equipment >100hp

45

John Deere Financial Services

46

John Deere Financial ServicesSupporting the Growth of Our Equipment Operations

Owned Operations

Bank/Finance Company Partners

Retail programs through JDF not currently offered

47

John Deere Financial Services

Net Income

-$2,000

-$1,000

$0

$1,000

$2,000

$3,000

$4,000

1989 1993 1997 2001 2005 2009 2013 2017

John Deere Financial (attributable to Deere & Company) Deere & Company

$ M

illio

ns

Consistent earnings throughout the cycle

48

Portfolio Composition by Segment

John Deere Financial Services

Portfolio Composition by Geography Portfolio Composition by Product

A&T84%

C&F16%

Installment and Finance

Lease55%

Wholesale/ Floorplan

19%

Revolving Credit9%

Operating Lease17%

U.S.72%

Canada11%

Europe6%

Latin America

7%

Australia3% Asia

1%

Note: Information above includes all Deere & Company lending activities worldwide. John Deere Capital Corporation is the largest lending operation of Deere & Company.

$40.0 billion Net Owned Portfolio as of 29 October 2017

49

John Deere Capital Corporation

Agriculture & Turf* Construction & Forestry

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

1983 1988 1993 1998 2003 2008 2013

Net Write-offs (Ag) Installments 60+DPD (Ag)

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

1995 2000 2005 2010 2015

Net Write-offs (C&F) Installments 60+DPD (C&F)

* 1983–1985 includes construction; 1986-1994 includes lawn & grounds care; 2009 forward includes ag & turf equipment; as % of owned losses after dealer reserve charges Source: 1983–1994 internal reporting, 1995-2011 JDCC 10-K filings, 2012-2017 internal reporting

Continued extremely low write-offs in Agriculture & Turf and Construction & Forestry

50

Agriculture Fundamentals

51

Global Stocks-to-Use Ratios

Source: USDA, 9 November 2017

0%

20%

40%

60%

80%

100%

120%

0%

10%

20%

30%

40%

50%

60%

1996 1999 2002 2005 2008 2011 2014 2017P

Cotton R

atios

CottonWheat

Corn

Soybeans

52

Source: USDA, 9 November 2017

Global Grain Supply and Demand

0

500

1,000

1,500

2,000

2,500

3,000

93/94 95/96 97/98 99/00 01/02 03/04 05/06 07/08 09/10 11/12 13/14 15/16 17/18

Mill

ion

Met

ric

Tons

Consumption Production

53

0

1,000

2,000

3,000

2006 2008 2010 2012 2014 2016 2018F

Mill

ion

Met

ric

Tons

Consumption without biofuel use

Global Grain DemandWith and Without Biofuel Use

0

1,000

2,000

3,000

2006 2008 2010 2012 2014 2016 2018F

Mill

ion

Met

ric

Tons

Consumption with biofuel use

* Compound Annual Growth RateSource: OECD-FAO Agricultural Outlook 2017-2026, July 2017

54

U.S. Farm Cash Receipts

$0

$100

$200

$300

$400

$500

2002 2004 2006 2008 2010 2012 2014 2016 2018F

$ Bill

ions

Crops Livestock Government Payments

Source: 2001–2016: USDA, 30 August 20172017F–2018F: Deere & Company forecast as of 22 November 2017

55

U.S. Farm Balance Sheet

10%

15%

20%

25%

30%

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

1974 1978 1982 1986 1990 1994 1998 2002 2006 2010 2014 2018F

$ Bill

ions

Farm Debt Farm Equity Debt to Equity Ratio (%) Debt to Asset Ratio (%)

Source: 1974–2016: USDA, 30 August 20172017F–2018F: Deere & Company forecast as of 22 November 2017

56

Construction & Forestry Fundamentals

57

U.S. Housing Starts

0.0

0.5

1.0

1.5

2.0

2.5

1968 1973 1978 1983 1988 1993 1998 2003 2008 2013 2018F

Multi-Family Housing Starts Single-Family Housing Starts

Source: 1968–2016: U.S. Census Bureau, October 20172017F–2018F: Deere & Company forecast as of 22 November 2017

Mill

ions

of U

nits

58

-160%

-140%

-120%

-100%

-80%

-60%

-40%

-20%

0%

20%

40%

60%

$0

$400

$800

$1,200

$1,600

$2,000

$2,400

1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018F

% Total C

onstruction Spend

$ Bill

ions

*

Government Infrastructure Investment Government Investment in StructuresNonresidential Investment in Structures Residential Investment in Structures

U.S. Construction Spending

* 2009$ baseSource: 1998–2016: U.S. Bureau of Economic Analysis, October 2017

2017F–2018F: Deere & Company forecast as of 22 November 2017

59

Transportation Spend Outpacing General Construction Spending

Source: IHS Global Insight

37%Residential

31%Non-Residential

15%Energy & Health

17%Transportation

2015 Global Construction Spending ($9.5 trillion)

Global Construction Spending

Transportation Includes:

− Roads & Bridges

− Railways

− Airports

Transportation Spending:

− $1.6 trillion worldwide in 2015

Megatrend Infrastructure Drivers:

− Rapid Urbanization

− Rising Incomes

− Capital Investment in Asia 6,485.9 8,989.2 13,537.4

2000 2015 2030

Total Other Construction Transportation

14% 17% 19%

81%83%86%

60

Appendix

61

Net Sales by Product CategoryEquipment Operations – Fiscal 2017

Agriculture & Turf$20.2 billion

Construction & Forestry$5.7 billion

Small Ag

TurfCompact

Construction

Forestry

Other

Large Ag

62

-$1

$0

$1

$2

$3

$4

-$10

$0

$10

$20

$30

$40

1981 1985 1989 1993 1997 2001 2005 2009 2013 2017

$ Billions

$ Bill

ions

Net Sales Net Income

Much-improved performance vs. prior downturns

Net Sales and Net IncomeDeere & Company

* Tractors > 220 hp and combinesSource: Association of Equipment Manufacturers, October 2016

1981-1986 1990-1992 1998-1999 2013-2016U.S. & Canada Large Ag* ~ 60% ~ 24% ~ 35% ~ 60%Industry Decline

Deere Net Sales Decline ~ 35% ~ 16% ~ 19% ~ 33%

Net Income Decline ~ 191% ~ 91% ~ 77% ~ 57%(attributable to Deere & Company)

63

Exceptional Operating Performance - OROAEquipment Operations

* Operating Return on Operating Assets** Shareholder Value Added; for reconciliation to GAAP see “SVA* Reconciliation to GAAP” slide in Appendix

21.0% OROA* in 2017

12%

20%

28%

2001

2002

2003

200420052006

2007 2008

2009

2010

2011

2012

2013

2014

20152016

2017

-10%

0%

10%

20%

30%

40%

12% OROA (SVA** Neutral)

% of Mid-Cycle Volume80% 100% 120%

64

Fiscal 2018 Forecast

Agriculture & Turf– Deere worldwide net sales up ~ 9%– U.S. and Canada ag industry up 5-10%– EU 28 ag industry up ~ 5%– South America ag (tractors and combines) industry flat to up 5%

Construction & Forestry– Deere worldwide net sales up ~ 69%

– Wirtgen worldwide net sales up ~ 54 points– Fundamentals supportive of increased industry demand– Worldwide forestry industry flat to up 5%

John Deere Financial– Net income attributable to Deere & Company of ~ $515 million

Source: Deere & Company forecast as of 22 November 2017

65

The Wirtgen Group – 5 Premium Brands

Milling Machines Concrete Paving

Asphalt PavingCompactors

Crushers

Asphalt Plants

Road Technologies Mineral Technologies

66

End to End Road Construction Portfolio

67

SVA* Reconciliation to GAAPEquipment Operations

* Shareholder Value Added

($ millions except where noted) 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005

Net Sales 6,479 7,663 8,830 9,640 11,082 11,926 9,701 11,169 11,077 11,703 13,349 17,673 19,401

Average Identifiable AssetsWith Inventories at LIFOWith Inventories at Standard Cost

5,4496,442

5,5516,494

6,1877,131

6,5027,488

6,6827,703

7,6728,711

7,7248,739

8,0699,039

8,7439,678

6,2297,147

5,9656,925

6,4827,477

7,2488,312

Operating ProfitPercent of Net Sales

2423.7%

84711.1%

1,00611.4%

1,12511.7%

1,40212.6%

1,47612.4%

2722.8%

6936.2%

(46)(0.4%)

4013.4%

7085.3%

1,90510.8%

1,8429.5%

Operating Return on AssetsWith Inventories at LIFOWith Inventories at Standard Cost

4.4%3.8%

15.3%13.0%

16.3%14.1%

17.3%15.0%

21.0%18.2%

19.3%16.9%

3.5%3.1%

8.6%7.7%

(0.5%)(0.5%)

6.4%5.6%

11.9%10.2%

29.4%25.5%

25.4%22.2%

SVA Cost of Assets (773) (780) (856) (898) (924) (1,045) (1,049) (1,085) (1,162) (858) (831) (897) (998)

SVA (531) 68 150 226 477 431 (776) (392) (1,208) (457) (123) 1,008 844

($ millions except where noted) 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Net Sales 19,884 21,489 25,803 20,756 23,573 29,466 33,501 34,998 32,961 25,775 23,387 25,885

Average Identifiable AssetsWith Inventories at LIFOWith Inventories at Standard Cost

7,5468,634

8,0929,205

9,65210,812

9,64710,950

9,19610,494

11,51612,875

13,59414,965

14,56915,924

14,11315,493

12,49113,840

11,81613,092

12,15013,421

Operating ProfitPercent of Net Sales

1,9059.6%

2,31810.8%

2,92711.3%

1,3656.6%

2,90912.3%

3,83913.0%

4,39713.1%

5,05814.5%

4,29713.0%

2,1778.4%

1,8808.0%

2,82110.9%

Operating Return on AssetsWith Inventories at LIFOWith Inventories at Standard Cost

25.2%22.1%

28.6%25.2%

30.3%27.1%

14.1%12.5%

31.6%27.7%

33.3%29.8%

32.3%29.4%

34.7%31.8%

30.4%27.7%

17.4%15.7%

15.9%14.4%

23.2%21.0%

SVA Cost of Assets (1,036) (1,094) (1,284) (1,301) (1,259) (1,545) (1,795) (1,911) (1,860) (1,661) (1,570) (1,611)

SVA 869 1,224 1,643 64 1,650 2,294 2,602 3,147 2,437 516 310 1,210