M&A Strategy and Financial Overview

M&A strategy: Disciplined and opportunistic Strategic Proactively supports growth in attractive markets Financial • Invest capital at attractive returns over cycle Safety Cultural . Talent Difficult to replicate organically • • Access to new customers Revenue growth Margin opportunities Manage leverage . Ethics and integrity . Management philosophy . • Enhance cross-selling • Best practice adoption • Internal Rate of Return ROIC • Customer focus . Geographic coverage Community • Volatility · Diversification Proven integration capabilities are a key advantage in realizing greater value from M&A United Rentals® Work United® | 37

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