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Investor Presentaiton

Consistent free cash flow generation $1,700 $1,500 $1,300 $1,100 $900 $700 Free Cash Flow($M) --10-Yr Average -5-Yr Average $924 $1,195 $983 $1,334 $1,700 $1,592 $500 $574 $421 $367 $335 $300 $227 $100 $23 $(73) -$100 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020F -$300 $6.0B of free cash flow generated over last 5 years, with a strong outlook (2) Notes: (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 5 year period from 2015 to 2019, excluding merger and restructuring related payments. (3) 2020F reflects mid-point of guidance United RentalsĀ® United Rentals, Inc., 100 First Stamford Place, Stamford, CT 06902. 2020 United Rentals, Inc. All rights reserved.
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