Investor Presentaiton
Consistent free cash flow generation
$2,500
$2,100
$1,700
$1,300
$900
Free Cash Flow ($M) (1)
10-Yr Average (2)
-
5-Yr Average (3)
$2,454
$1,700
$1,592
$1,527
$1,334
$1,195
$983
$924
$574
$421
$500
$335
$367
$227
$100
$23
($73)
-$300
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020 (4)
2021 (4) 2022F (4),
(4), (5)
~$7.9B of free cash flow generated over last 5 years (3)
(1) Free cash flow is a non-GAAP measure. See tables provided elsewhere in this presentation for reconciliations to the most comparable GAAP measure. Merger and restructuring related payments were first reported for 2012. The information required to
determine the amount of merger and restructuring related payments for periods prior to 2012 is unavailable without unreasonable effort. Free cash flow for 2012 and subsequent periods above excludes merger and restructuring related payments.
(2) Reflects 10 year period from 2012 to 2021, excluding merger and restricting related payments.
Reflects 5 year period from 2017 to 2021, excluding merger and restructuring related payments.
(3)
(4) 2020 reflects a ~$1.2 billion year-over-year decrease in net rental capital expenditures, while 2021 reflects a ~$1.9 billion year-over-year increase in net rental capital expenditures. 2022F net rental capital expenditures are expected to exceed 2021
levels.
(5) 2022F reflects the mid-point of guidance.
United Rentals®
United Rentals, Inc., 100 First Stamford Place, Stamford, CT 06902.2022 United Rentals, Inc. All rights reserved.
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