2023 Investor Day Presentation

Free Cash Flow GAAP Reconciliation ($M) The table below provides a reconciliation between 2023 forecasted net cash provided by operating activities and free cash flow. Net cash provided by operating activities Purchases of rental equipment Proceeds from sales of rental equipment Purchases of non-rental equipment and intangible assets, net of proceeds from sales and insurance proceeds from damaged equipment Free cash flow (excluding the impact of merger and restructuring related payments) $4,400-$4,800 $(3,300)-$(3,550) $1,200-$1,400 $(200)-$(300) $2,100-$2,350 ● United Rentals® Work United® 2023 Investor Day | 100

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