United Rentals Announces Redemption of 5½% Senior Notes due 2027

United Rentals, Inc. (NYSE:URI) ("URI") today announced that its subsidiary, United Rentals (North America), Inc. ("URNA"), has given notice of its intention to redeem all of the outstanding $500 million principal amount of its 5½% Senior Notes due 2027 (CUSIP Number 911365 BF0) (the "Notes") on December 24, 2025 (the "Redemption Date"). The Notes will be redeemed at a redemption price (the "Redemption Price") of 100.00% of the principal amount of the Notes, plus accrued and unpaid interest to, but excluding, the Redemption Date.

URNA has instructed Computershare Trust Company, N.A., as the trustee for the Notes (the "Trustee"), to distribute a notice of redemption to all registered holders of the Notes on November 24, 2025. Copies of such Notice of Redemption and additional information relating to the procedure for redemption of the Notes may be obtained from the Trustee by calling 1-800-344-5128.

URNA expects to use a portion of the net proceeds from its offering of 5.375% Senior Notes due 2033 (the "New Notes"), which is expected to close December 1, 2025, to redeem the Notes. Pending usage of such net proceeds to redeem the Notes, URNA may use such net proceeds to reduce borrowings under either its asset based revolving credit facility or accounts receivable securitization facility, in which case URNA expects to borrow under its asset based revolving credit facility or accounts receivable securitization facility, as applicable, to fund the redemption of the Notes.

The redemption is subject to, and conditioned upon, (i) the completion by URNA of an issuance of at least $500,000,000 aggregate principal amount of senior notes no later than the Redemption Date on terms and conditions satisfactory in all respects to URNA in its sole and absolute discretion and (ii) sufficient funds being available to be drawn by URNA under its asset based revolving credit facility and/or accounts receivable securitization facility at the time URNA is required to deposit the Redemption Price with the Trustee to fund the payment of the Redemption Price and such funds being disbursed when requested by URNA. The Redemption Date may be delayed until such time as the conditions precedent shall be satisfied. In the event that such conditions precedent have not been so satisfied by the Redemption Date, or by the Redemption Date as so delayed, URNA will notify the Trustee, and upon any such notice, the notice of redemption shall be rescinded and be of no force or effect for any purpose.

This news release is not intended to be a recommendation to buy, sell or hold securities and does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No assurance can be made that the offering of New Notes will be consummated on its proposed terms or at all. This news release does not constitute a notice of redemption with respect to the Notes or any of URI's other debt securities.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E 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 that may cause actual results to differ materially from such forward-looking statements. These statements are based on current plans, estimates and projections, and, therefore, you should not place undue reliance on them. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Forward-looking statements are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about the business and future financial results of the equipment rental industry, and other legal, regulatory and economic developments. URI uses words such as "anticipates," "believes," "plans," "expects," "projects," "future," "intends," "may," "will," "should," "could," "estimates," "predicts," "targets," "potential," "continue," "guidance" and similar expressions to identify these forward-looking statements that are intended to be covered by the safe harbor provisions of the PSLRA. Actual results could differ materially from the results contemplated by these forward-looking statements due to a number of factors, including, but not limited to, those described in the SEC reports filed by URI. URI gives no assurance that it will achieve its expectations and does not assume any responsibility for the accuracy and completeness of the forward-looking statements. The forward-looking statements speak only as of the date hereof. URI undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that affect the business of URI described in the "Risk Factors" sections of the Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed from time to time with the SEC by URI.

About United Rentals

United Rentals, Inc. is the largest equipment rental company in the world. The company has an integrated network of 1,639 rental locations in North America, 41 in Europe, 40 in Australia and 19 in New Zealand. In North America, the company operates in 49 states and every Canadian province. The company's approximately 27,900 employees serve construction and industrial customers, utilities, municipalities, homeowners and others. The company offers a fleet of equipment for rent with a total original cost of $22.82 billion. URI is a member of the Standard & Poor's 500 Index, the Barron's 400 Index and the Russell 3000 Index® and is headquartered in Stamford, Conn.

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Elizabeth Grenfell

Vice President, Investor Relations

O: (203) 618-7125

[email protected]