Investor Presentaiton
2022 Financial Outlook
Total Revenue
Adjusted EBITDA*
Net Rental Capital Expenditures
$11.5 billion to $11.7 billion
$5.5 billion to $5.6 billion
$2.25 billion to $2.45 billion, after gross
purchases of $3.25 billion to $3.45 billion
$4.05 billion to $4.40 billion
Net Cash Provided by Operating Activities
Free Cash Flow*
$1.6 billion to $1.8 billion**
*Adjusted EBITDA and Free Cash Flow are non-GAAP measures. See the table provided elsewhere in this presentation for a reconciliation of forecasted Free Cash Flow to the most comparable GAAP measure. Information reconciling forecasted
adjusted EBITDA to the most comparable GAAP financial measures is unavailable to the company without unreasonable effort, as discussed in the "Introductory Information" slide.
**Excludes aggregate merger and restructuring related payments. FCF outlook assumptions include 2022 cash taxes of $385M and cash interest of $400M.
United Rentals®
United Rentals, Inc., 100 First Stamford Place, Stamford, CT 06902.2022 United Rentals, Inc. All rights reserved.
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