Herc Rentals Investor Presentation — March 2021

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©2021 Herc Rentals Inc. All Rights Reserved.Bank of America Securities

Global Industrials Conference Larry Silber

President and Chief Executive Officer

Senior Vice President &

Chief Financial Officer

Elizabeth Higashi, CFA

Vice President, Investor Relations &

Sustainability 2NYSE: HRI

©2021 Herc Rentals Inc. All Rights Reserved.Safe Harbor Statements and Non -GAAP Financial Measures

Information Regarding Non -GAAP Financial Measures

In addition to results calculated according to accounting principles

generally accepted in the United States (“GAAP”), the Company has

provided certain information in this presentation that is not calculated

according to GAAP (“non -GAAP”), such as adjusted net income,

adjusted earnings per diluted share, EBITDA, adjusted EBITDA,

adjusted EBITDA margin, REBITDA, REBITDA margin, REBITDA flow -

through and free cash flow. Management uses these non -GAAP

measures to evaluate operating performance and period -over-period

performance of our core business without regard to potential

distortions, and believes that investors will likewise find these non -

GAAP measures useful in evaluating the Company’s performance.

These measures are frequently used by security analysts, institutional

investors and other interested parties in the evaluation of companies in

Non-GAAP measures should not be considered in isolation or as a

substitute for our reported results prepared in accordance with GAAP

and, as calculated, may not be comparable to similarly titled measures

of other companies. For the definitions of these terms, further

information about management’s use of these measures as well as a

reconciliation of these non -GAAP measures to the most comparable

GAAP financial measures, please see the appendix that accompanies

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