United Rentals

Year-to-date gross rental capital expenditures of $3.760 billion.

SEC original ↗United Rentals — Earnings release (8-K exhibit)EX-99Oct 22, 2025

Returned $1.633 billion to shareholders year-to-date, comprised of $1.283 billion via share repurchases and $350 million via dividends paid.

SEC original ↗United Rentals — Earnings release (8-K exhibit)EX-99Oct 22, 2025

The net leverage ratio reflects net debt (total debt less cash and cash equivalents) divided by adjusted EBITDA for the trailing 12 months.

SEC original ↗United Rentals — Earnings release (8-K exhibit)EX-99Oct 22, 2025

Total liquidity reflects cash and cash equivalents plus availability under the asset-based revolving credit facility ( ABL facility ) and the accounts receivable securitization facility.

SEC original ↗United Rentals — Earnings release (8-K exhibit)EX-99Oct 22, 2025

During the nine months ended September 30, 2025, the company completed its prior $1.5 billion 9 share repurchase program, and commenced a new $1.5 billion 9 share repurchase program which was increased to $2.0 billion 9 following the enactment of new federal tax legislation in July 2025.

SEC original ↗United Rentals — Earnings release (8-K exhibit)EX-99Oct 22, 2025

During the nine months ended September 30, 2025, the company repurchased $1.283 billion 9 of common stock under both these programs, and paid dividends totaling $350 million.

SEC original ↗United Rentals — Earnings release (8-K exhibit)EX-99Oct 22, 2025

CEO Comment Matthew Flannery, chief executive officer of United Rentals, said, Our third-quarter results were again supported by our unrelenting focus on being the partner of choice to our customers as we serve their needs across both construction and industrial end-markets.

SEC original ↗United Rentals — Earnings release (8-K exhibit)EX-99Oct 22, 2025

I m very proud of the company we continue to build, supported by a well-proven strategy focused on profitable growth, strong through-cycle free cash flow generation and prudent capital allocation, all of which create compelling long-term value for our shareholders.

SEC original ↗United Rentals — Earnings release (8-K exhibit)EX-99Oct 22, 2025

These statements can generally be identified by the use of forward-looking terminology such as believe, expect, may, will, should, seek, on-track, plan, project, forecast, intend or anticipate, or the negative thereof or comparable terminology, or by discussions of vision, strategy or outlook.

SEC original ↗United Rentals — Earnings release (8-K exhibit)EX-99Oct 22, 2025

These items are excluded from adjusted EBITDA internally when evaluating our operating performance and for strategic planning and forecasting purposes, and allow investors to make a more meaningful comparison between our core business operating results over different periods of time, as well as with those of other similar companies.

SEC original ↗United Rentals — Earnings release (8-K exhibit)EX-99Oct 22, 2025

Such statements can be identified by the use of forward-looking terminology such as believe, expect, may, will, should, seek, on-track, plan, project, forecast, intend or anticipate, or the negative thereof or comparable terminology, or by discussions of strategy or outlook.

SEC original ↗United Rentals — 10-Q Quarterly report10-QOct 21, 2026

operations, including currency exchange risk and tariffs (36) labor shortages and or disputes, work stoppages or other labor difficulties, which may impact our productivity and increase our costs, and changes in law that could affect our labor relations or operations generally and (37) the effect of changes in tax law .

SEC original ↗United Rentals — Earnings release (8-K exhibit)EX-99Oct 22, 2025

For a more complete description of these and other possible risks and uncertainties, please refer to our Annual Report on Form 10-K for the year ended December 31, 2024, as well as to our subsequent filings with the SEC.

SEC original ↗United Rentals — Earnings release (8-K exhibit)EX-99Oct 22, 2025

You are cautioned that our business and operations are subject to a variety of risks and uncertainties, many of which are beyond our control, and, consequently, our actual results may differ materially from those projected.

SEC original ↗United Rentals — 10-Q Quarterly report10-QOct 21, 2026

operations, including currency exchange risk and tariffs; labor shortages and/or disputes, work stoppages or other labor difficulties, which may impact our productivity and increase our costs, and changes in law that could affect our labor relations or operations generally; and the effect of changes in tax law.

SEC original ↗United Rentals — 10-Q Quarterly report10-QOct 21, 2026

For a more complete description of these and other possible risks and uncertainties, please refer to our Annual Report on Form 10-K for the year ended December 31, 2025, as well as to our subsequent filings with the SEC.

SEC original ↗United Rentals — 10-Q Quarterly report10-QOct 21, 2026

We believe that the disaggregation of our revenue from contracts to customers as reflected above, coupled with the further discussion below and the reportable segment disclosures in note 3, depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors.

SEC original ↗United Rentals — 10-Q Quarterly report10-QOct 21, 2026