Joy Global Inc. (NYSE: JOY), a worldwide leader in high-productivity mining solutions (the " Company"), today announced to the holders of its 5.125% Senior Notes due 2021 and 6.625% Senior Notes due 2036 (collectively, the " Notes") issued under the indenture governing the Notes (the " Indenture") that following the expiration of the consent solicitation on January 23, 2017 and the satisfaction of all conditions described in the consent solicitation statement dated January 10, 2017 and the related letter of consent, it will promptly pay to each holder of Notes who delivered (and did not validly revoke) a valid consent in favor of the proposed amendments to the Indenture, a cash payment of $2.50 for each $1,000 principal amount of Notes for which such consent was delivered. Questions regarding the consent solicitation may be directed to the Solicitation Agent, Mizuho Securities USA LLC (f/k/a Mizuho Securities USA Inc.), Attention: Liability Management Group, at (866) 271-7403 (toll free) or (212) 205-7736 (collect), or the Information Agent and Tabulation Agent, D.F. King & Co., Inc., at (800) 967-5019 (toll free), (212) 269-5550 (banks and brokers) or firstname.lastname@example.org. Cautionary statement regarding forward-looking statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Terms such as "anticipate," "around," "believe," "could," "estimate," "expect," "forecast," "indicate," "intend," "may be," "objective," "plan," "potential," "predict," "project," "should," "will be," and similar expressions are intended to identify forward-looking statements. The forward-looking statements in this press release are based on our current expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from any forward-looking statement. These important risks and uncertainties are described in greater detail in the Company's Annual Report on Form 10-K for the fiscal year ended October 28, 2016. Forward-looking statements contained herein are made only as to the date of this press release and the Company undertakes no obligation to update forward-looking statements to reflect new information. The Company cannot assure you the projected results or events will be achieved. Because forward-looking statements involve risks and uncertainties, they are subject to change at any time.