2022 Financial Outlook

Reconciliation of Net Cash Provided by Operating Activities to EBITDA and Adjusted EBITDA The table below provides a reconciliation between net cash provided by operating activities and EBITDA and adjusted EBITDA. $ Millions Net cash provided by operating activities Three Months Ended June 30, Six Months Ended June 30, 2022 2022 2021 $ 1,154 $ 1,176 $ 2,040 Adjustments for items included in net cash provided by operating activities but excluded from the calculation of EBITDA: 2021 $ 1,934 Amortization of deferred financing costs and original issue discounts Gain on sales of rental equipment Gain on sales of non-rental equipment Insurance proceeds from damaged equipment Merger related costs (1) Restructuring charge (2) Stock compensation expense, net (3) Loss on repurchase/redemption of debt securities (5) Changes in assets and liabilities Cash paid for interest Cash paid for income taxes, net EBITDA Add back: (3) (3) (6) (6) 97 84 213 187 2 3 4 4 10 7 17 14 (3) (3) (1) (36) (35) (60) (56) (17) (17) (118) (407) (152) (584) 39 28 188 195 142 102 152 108 $ 1,269 $ 952 $ 2,378 $ 1,792 Merger related costs (1) Restructuring charge (2) Stock compensation expense, net (3) Impact of the fair value mark-up of acquired fleet (4) Adjusted EBITDA 1) 2) 3 3 1 1 1 36 35 60 56 5 9 11 20 $ 1,311 999 $ 2,450 $ 1,872 Reflects transaction costs associated with the General Finance acquisition that was completed in May 2021. Merger related costs only include costs associated with major acquisitions. Primarily reflects severance and branch closure charges associated with our closed restructuring programs. We only include such costs that are part of a restructuring program as restructuring charges. Since the first such restructuring program was initiated in 2008, we have completed six restructuring programs. We have cumulatively incurred total restructuring charges of $353 million under our restructuring programs. Represents non-cash, share-based payments associated with the granting of equity instruments. 3) 4) Reflects additional costs recorded in cost of rental equipment sales associated with the fair value mark-up of rental equipment acquired in certain major acquisitions and subsequently sold. 5) Primarily reflects the difference between the net carrying amount and the total purchase price of the redeemed notes. United Rentals 10 United Rentals, Inc., 100 First Stamford Place, Stamford, CT 06902. 2022 United Rentals, Inc. All rights reserved. 45

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