Work United™ - M&A Strategy Review

Transaction Highlights URI acquiring a leading domestic General Rental provider with LTM September 2022 revenue of $887M and Adjusted EBITDA of $310M (1) Consistent with United Rentals' "Grow the Core" strategy and recent acquisitions of national rental companies: Strategic Overview - Increases efficiencies of scale with an attractive footprint of 106 locations across major markets in the US - Ahern brings a national footprint, strong customer relationships, and valuable employees in key field roles - Attractive fleet mix with ~$1.85B in rental OEC (76% in Aerial and Material Handling) as well as ~$145M in non-rental fleet Leverages United Rentals' core competency in M&A integration Opportunity to utilize URI's processes and technology to improve productivity and efficiency in operations and sales Financial Overview is $ • • $2.0B cash purchase price, structured as an asset purchase, resulting in ~$426M NPV of tax benefits - Purchase multiple of 6.5x LTM September 2022 Adjusted EBITDA, 4.5x net of synergies and tax benefits - $40M of identified annual cost synergies expected to be realized on a run-rate basis in the first 12-18 months - $60M of targeted cross-sell opportunity by year 3 across Power & HVAC, Fluid Solutions, Trench & Safety, Mobile Storage, and Site Services The acquisition is expected to be accretive to EPS and FCF in the first year, with an attractive internal rate of return and NPV, and a run rate ROIC that exceeds cost of capital within 24 months of closing; return profile remains compelling across a range of macro scenarios • Expected to be funded through newly issued debt and ABL borrowings Net leverage ratio projected at 2.1x at year end (2.0x on a pro forma basis) . Expected to close during Q4 2022 (1) Adjusted EBITDA is a non-GAAP financial measure. See appendix to this presentation for a reconciliation between Ahern net income (loss) and Ahern adjusted EBITDA. United Rentals WORK UNITED™ 3

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