Ashtead Group Investor Day

Capital Allocation Policy Clear Priorities ■ ■ Organic fleet growth ■ Same-store I Greenfields Bolt-on acquisitions Returns to shareholders ■ Progressive dividend policy Share buybacks Third quarter results - January 31, 2018 Consistently Applied £859m on capital expenditure £315m on Bolt-ons £100m on spent on share buybacks under programme previously announced; minimum of £500m and up to £1bn Ashtead group 46

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