United Rentals, Inc. · NYSE:URI

United Rentals — Merger or Acquisition (January 2025)

10 slides from United Rentals's merger presentation, Jan 14, 2025

  1. Slide 1: United Rentals to Acquire H&E Equipment Services

    1 I © 2023 United Rentals, Inc. All rights reserved. United Rentals to Acquire H&E Equipment Services January 14, 2025

  2. Slide 2: Forward-Looking Statements

    2 I This presentation contains forward - looking statements within the meaning of Section 21 E of the Securities Exchange Act of 1934 , as amended, and the Private Securities Litigation Reform Act of 1995 , known as the PSLRA . Forward - looking statements involve significant risks and uncertainties

  3. Slide 3: Transaction Highlights

    3 Transaction Highlights (1) Adjusted EBITDA is a non - GAAP financial measure. See appendix to this presentation for a reconciliation between H&E Equipment S ervices net income (loss) and H&E Equipment Services adjusted EBITDA. URI acquiring a leading domestic General Rental provider with LTM Septe

  4. Slide 4: Proven Ability to Create Value Through GenRent M&A

    4 Note: Financial benefits are not exhaustive and exclude the net present value of related tax benefits. Cost and revenue syner gie s reflect targeted levels. Proven Ability to Create Value Through GenRent M&A M&A is a Core Competency that Benefits Both Customers and Shareholders 2012 2017 2017 2018

  5. Slide 5: H&E Overview

    5 H&E Equipment Services Overview • H&E is a leading U.S. General Rental provider offering equipment across four key categories: aerial work platforms, earthmoving, material handing, and general equipment • Founded in 1961 and headquartered in Baton Rouge, LA • ~2,900 employees and ~160 locations ac

  6. Slide 6: National Footprint: Locations

    6 National footprint: H&E Equipment Services Locations (1) Attractive Footprint that Adds Capacity in Key Markets (1) Footprint as of September 30, 2024

  7. Slide 7: Compelling Financial Opportunity

    7 Compelling Financial Opportunity • Core business well aligned with URI’s General Rental business • Meaningful opportunity for cost synergies • Significant opportunity for cross - selling of United Rentals’ Specialty offerings • Rapid integration will enable fleet sharing across the combined custom

  8. Slide 8: Overview of Synergies and Growth Opportunity

    8 Overview of Synergies and Growth Opportunity Identified Cost Synergies Cross - Sell Opportunity Overview $75M $55M Identified Synergies Net Operational Efficiency SG&A Synergies $130M 71% 29% URI Customers’ 2023 Total Revenue Breakdown Specialty (1) General Rental H&E’s primary offering Opportunit

  9. Slide 9: Tilt

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  10. Slide 10: Reconciliation of Net Income to Adjusted EBITDA

    10 Reconciliation of H&E Equipment Services Net Income to Adjusted EBITDA (1) Adjustment includes goodwill impairment charges in the third quarter ended September 30, 2023. H&E Equipment Services EBITDA represents the sum of net income, interest expense, provision for income taxes, rental deprecia t

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