M&A Strategy and Financial Overview

$0 $10 $20 $30 U.S. equipment rental industry overview Combined U.S. General Rental and Construction & Industrial Equipment Rental Market Size ($bn) $60 Peak-to- 25-year CAGR 10-year CAGR Peak CAGR 5.2% 5.1% 3.3% $50 $40 400% 350% 300% 250% 200% 150% 100% 50% 0% Growth of the U.S. equipment rental market has sharply outpaced underlying total non-res activity Indexed growth: US Equipment Rental Market Indexed growth: Total US Non-Res Construction United Rentals® Work United® 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2014 2015 2016 Q1OZ Largest players capturing a growing share of the U.S. equipment rental market Top 10 U.S. Rental Companies as % of Total Industry Revenues Equipment rental value proposition continues to drive secular penetration Sources: Company reports, ARA, RER, and U.S. Census Bureau (based on most current data available). 2017 2017 2018 2018 2019 2020 2021 2022 50% 44% 45% --40% 38% 40% 3.6% 35% 30% 25% 20% 22% 23% 24% 26% 27% 27% 30% 32% 20% 15% 10% 5% 0% 2 3 | 24

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