United Rentals Announces Full Redemption of 5.750% Senior Notes Due 2024

United Rentals, Inc. (NYSE:URI) today announced that its subsidiary,
United Rentals (North America), Inc. (“URNA”), has given notice of its
intention to redeem all of the outstanding $850 million principal amount
of its 5.750% Senior Notes due 2024 (CUSIP Number 911365 BB9) (the
“Notes”) on May 26, 2019 (the “Redemption Date”). The Notes will be
redeemed at a redemption price (the “Redemption Price”) of 102.875% of
the principal amount of the Notes, plus accrued and unpaid interest to,
but excluding, the Redemption Date.

URNA has instructed Wells Fargo Bank, National Association, as the
trustee for the Notes (the “Trustee”), to distribute a notice of
redemption to all registered holders of the Notes on April 26, 2019.
Copies of such Notice of Redemption and additional information relating
to the procedure for redemption of the Notes may be obtained from Wells
Fargo Bank, National Association by calling 1-800-344-5128.

URNA expects to use the net proceeds from its offering of 5.25% Senior
Notes due 2030, which is expected to close May 10, 2019, and additional
borrowings of $133 million under its senior secured asset-based
revolving credit facility to redeem the Notes and to pay related
expenses.

The redemption is subject to, and conditioned upon, (i) the completion
by URNA of an issuance of at least $750,000,000 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 senior secured asset-based revolving credit 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 to the Trustee, the notice
of redemption will be of no force or effect for any purpose.

This announcement 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.

About United Rentals

United Rentals, Inc. is the largest equipment rental company in the
world. The company has an integrated network of 1,165 rental locations
in North America and 11 in Europe. In North America, the company
operates in 49 states and every Canadian province. The company’s
approximately 18,600 employees serve construction and industrial
customers, utilities, municipalities, homeowners and others. The company
offers approximately 4,000 classes of equipment for rent with a total
original cost of $14.1 billion as of March 31, 2019. United Rentals 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.
Additional information about United Rentals is available at
unitedrentals.com.

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
those set forth in the 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. We
undertake no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or
otherwise. 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 industries, and other legal, regulatory and economic
developments. We use words such as “anticipates,” “believes,” “plans,”
“expects,” “projects,” “future,” “intends,” “may,” “will,” “should,”
“could,” “estimates,” “predicts,” “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. We give no assurance that it will achieve its expectations and
does not assume any responsibility for the accuracy and completeness of
the forward- looking statements.

You should carefully consider risks and uncertainties that affect our
businesses described in the “Risk Factors” section 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. All forward-looking statements included
in this document are based upon information available to URI on the date
hereof; and URI assumes no obligations to update or revise any such
forward-looking statements.

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