United Rentals Financial Performance and Market Exposure

M&A strategy: Disciplined and opportunistic Strategic Proactively supports growth in attractive markets • Difficult to replicate organically • Access to new customers • Enhance cross-selling . Financial • Invest capital at attractive returns over cycle • • • Revenue growth Margin opportunities Manage leverage Cultural Safety Talent Ethics and integrity . Management philosophy Internal Rate of Return • Best practice adoption • ROIC . Geographic coverage • Volatility . Diversification • Customer focus Community Proven integration capabilities are a key advantage in realizing greater value from M&A United Rentals 8 United Rentals, Inc., 100 First Stamford Place, Stamford, CT 06902. © 2018 United Rentals, Inc. All rights reserved. 25

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