Capital Allocation and Digital Strategy Update

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 Revenue growth . • • Access to new customers Margin opportunities Ethics and integrity • Manage leverage . Management philosophy . • Enhance cross-selling Internal Rate of Return • Customer focus • Best practice adoption • ROIC . 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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