Global Economic Conditions Our operations are impacted by global economic conditions, including inflation, tariffs, interest rate fluctuations and supply chain constraints, and we take actions to modify our plans to address such economic conditions. Our operations can also be impacted by geopolitical risks, including risks related to international conflicts. To date, the impact from supply chain disruptions has been limited, but we may experience more severe supply chain disruptions in the future. Although interest rates have stabilized more recently, interest rates on our debt instruments have increased in recent years (the weighted average interest rates on our variable debt instruments were 1.4 percent in 2021, 6.3 percent in 2024, 5.4 percent in 2025 and 4.8 percent for the six months ended June 30, 2026). Interest rates on our indebtedness that bears interest at fixed rates have similarly fluctuated in recent years (for example, in December 2025, United Rentals (North America), Inc. (“URNA”) issued $1.5 billion principal amount of senior unsecured notes at a 5 3/8 percent interest rate, while URNA's issuance in August 2021 of $750 principal amount of senior unsecured notes was at a 3 3/4 percent interest rate). We have experienced and are continuing to experience inflationary pressures. A portion of inflationary cost increases is passed on to customers. The most significant cost increases that are passed on to customers are for fuel and delivery, and there are other costs for which the pass through to customers is less direct, such as repairs and maintenance, and labor. Tariffs could result in the costs we incur being more than anticipated. The impact of inflation, tariffs, interest rate fluctuations and international conflicts may be significant in the future. We continue to assess the economic environment in which we operate and take appropriate actions to address the economic challenges we face. Executive Overview We are the largest equipment rental company in the world, with an integrated network of 1,774 rental locations. We primarily operate in the United States and Canada, and have a smaller presence in Europe, Australia and New Zealand. Although the equipment rental industry is highly fragmented and diverse, we believe that we are well positioned to take advantage of this environment because, as a larger company, we have more extensive resources and certain competitive advantages. These include a fleet of rental equipment with a total original equipment cost (“OEC”) of $23.8 billion, and a North American branch network that operates in 49 U.S. states and every Canadian province, and serves 99 of the 100 largest metropolitan areas in the U.S. Our size also gives us greater purchasing power, the ability to provide customers with a broader range of equipment and services, the ability to provide customers with equipment that is more consistently well-maintained and therefore more productive and reliable, and the ability to enhance the earning potential of our assets by transferring equipment among branches to satisfy customer needs. We offer our equipment for rent to a diverse customer base that includes construction and industrial companies, manufacturers, utilities, municipalities, homeowners and government entities. Our revenues are derived from the following sources: equipment rentals, sales of rental equipment, sales of new equipment, contractor supplies sales and service and other revenues. Equipment rentals represented 87 percent of total revenues for the six months ended June 30, 2026. For the past several years, we have executed a strategy focused on improving the profitability of our core equipment rental business through revenue growth, margin expansion and operational efficiencies. In particular, we have focused on customer segmentation, customer service differentiation, rate management, fleet management and operational efficiency. Our general strategy focuses on profitability and return on invested capital, and, in particular, calls for: •A consistently superior standard of service to customers, often provided through a single lead contact who can coordinate the cross-selling of the various services we offer throughout our network. We utilize a proprietary software application, Total Control®, which provides our key customers with a single in-house software application that enables them to monitor and manage all their equipment needs. Total Control® is a unique customer offering that enables us to develop strong, long-term relationships with our larger customers. Our digital capabilities, including our Total Control® platform, allow our sales teams to provide contactless end-to-end customer service; •The further optimization of our customer mix and fleet mix, with a dual objective: to enhance our performance in serving our current customer base, and to focus on the accounts and customer types that are best suited to our strategy for profitable growth. We believe these efforts will lead to even better service of our target accounts, primarily large construction and industrial customers, as well as select local contractors. Our fleet team's analyses are aligned with these objectives to identify trends in equipment categories and define action plans that can generate improved returns; •A continued focus on “Lean” management techniques, including kaizen processes focused on continuous improvement. We have a dedicated team responsible for reducing waste in our operational processes, with the objectives of: condensing the cycle time associated with preparing equipment for rent; optimizing our resources for 26 Table of Contents delivery and pickup of equipment; improving the effectiveness and efficiency of our repair and maintenance operations; and implementing customer service best practices; •The continued expansion and cross-selling of adjacent specialty and services products, which enables us to provide a “one-stop” shop for our customers. We believe that the expansion of our specialty business, as exhibited by our acquisition of Yak Access, LLC, Yak Mat, LLC and New South Access & Environmental Solutions, LLC (collectively, “Yak”) in March 2024 and other recent, smaller acquisitions in Australia, as well as our tools and onsite services offerings, further positions United Rentals as a single source provider of total jobsite solutions through our extensive product and service resources and technology offerings; and •The pursuit of strategic acquisitions to continue to expand our core equipment rental business, as exhibited by our acquisition of assets of Ahern Rentals, Inc. (“Ahern Rentals”) in December 2022, as well as other smaller, more recent acquisitions. Strategic acquisitions allow us to invest our capital to expand our business, further driving our ability to accomplish our strategic goals. Financial Overview Prior to taking actions pertaining to our financial flexibility and liquidity, we assess our available sources and anticipated uses of cash, including, with respect to sources, cash generated from operations and from the sale of rental equipment. As of June 30, 2026, we had available liquidity of $2.999 billion, comprised of cash and cash equivalents, and availability under the ABL and accounts receivable securitization facilities. In April 2025, our Board of Directors authorized a $1.5 billion share repurchase program, which was increased to $2.0 billion following the enactment of new federal tax legislation in July 2025. This program was completed in the first quarter of 2026. In January 2026, our Board of Directors authorized a new $5.0 billion share repurchase program that has no expiration date, and share repurchases under this program began in March 2026, following completion of the prior $2.0 billion share repurchase program. We have repurchased $400 under the $5.0 billion program through June 30, 2026. We intend to complete $1.5 billion of total share repurchases in 2026, comprised of $1.15 billion of share repurchases under the $5.0 billion program and the $350 of share repurchases made to complete the $2.0 billion program. A 1 percent excise tax is imposed on “net repurchases” (certain purchases minus certain issuances) of common stock. The share repurchases above (as well as the total program sizes) do not include the excise tax, which totaled $6 year-to-date through June 30, 2026 (the total excise tax amount relates to both the current program and the prior program that was completed in the first quarter of 2026). During the six months ended June 30, 2026 and 2025, we paid dividends of $248 ($3.94 per share) and $235 ($3.58 per share), respectively. On July 22, 2026, our Board of Directors declared a quarterly dividend of $1.97 per share, payable on August 26, 2026 to stockholders of record on August 12, 2026. Gain on Sale of Business. The three and six months ended June 30, 2026 include a gain of $49 associated with the sale of part of our scaffolding business. The impact of the gain was an after-tax benefit of $37, or $0.58 per diluted share, to net income and a $49 benefit to adjusted EBITDA (as defined below). Merger Termination Benefit. In January 2025, we announced that we had signed a merger agreement to acquire H&E Equipment Services, Inc. d/b/a H&E Rentals (“H&E”). In February 2025, following the termination of that merger agreement, we received a break-up fee of $64. Our results for the six months ended June 30, 2025 include a net $39 merger termination benefit, which reflects this break-up fee, net of related transaction costs. The net merger termination benefit was comprised of $12 of professional fees recorded in selling, general and administrative ("SG&A") expenses, $13 of bridge financing fees recorded in interest expense, net, and the break-up fee of $64 recorded in other income, net. For the six months ended June 30, 2025, the impact of the merger termination was a $29 after-tax benefit, or $0.45 per diluted share, to net income and a $52 benefit to adjusted EBITDA (as defined below), cash flow from operating activities and free cash flow (as defined below). Net income. Net income and diluted earnings per share are presented below. Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Net income $ 753 $ 622 $ 1,284 $ 1,140 Diluted earnings per share $ 12.03 $ 9.59 $ 20.44 $ 17.48 Net income and diluted earnings per share for the three and six months ended June 30, 2026 include the impact of the gain associated with the sale of part of our scaffolding business that is discussed above. The impact of the gain on sale of business for the three and six months ended June 30, 2026 was a net after-tax benefit of $37, or $0.58 per diluted share. Net income and diluted earnings per share for the six months ended June 30, 2025 include the impact of the H&E merger termination benefit discussed above. The impact of the merger termination for the six months ended June 30, 2025 was a net 27 Table of Contents after-tax benefit of $29, or $0.45 per diluted share. Net income and diluted earnings per share include the after-tax impacts of the items below. The tax rates applied to the items below reflect the statutory rates in the applicable entities. Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Tax rate applied to items below 25.1 % 25.2 % 25.1 % 25.2 % Contribution to net income (after-tax) Impact on diluted earnings per share Contribution to net income (after-tax) Impact on diluted earnings per share Contribution to net income (after-tax) Impact on diluted earnings per share Contribution to net income (after-tax) Impact on diluted earnings per share Merger related intangible asset amortization (1) $ (24) $ (0.39) $ (31) $ (0.47) $ (51) $ (0.82) $ (65) $ (1.00) Impact on depreciation related to acquired fleet and property and equipment (2) (14) (0.22) (19) (0.29) (30) (0.48) (38) (0.58) Impact of the fair value mark-up of acquired fleet (3) (2) (0.03) (6) (0.08) (6) (0.10) (14) (0.21) Restructuring charge (4) (4) (0.07) — (0.01) (38) (0.61) (1) (0.02) Asset impairment charge (5) (1) (0.02) (2) (0.03) (1) (0.02) (2) (0.03) (1)This reflects the amortization of the intangible assets acquired in the major acquisitions that significantly impact our operations (the “major acquisitions,” each of which had annual revenues of over $200 prior to acquisition). (2)This reflects the impact of extending the useful lives of equipment acquired in certain major acquisitions, net of the impact of additional depreciation associated with the fair value mark-up of such equipment. (3)This reflects additional costs recorded in cost of rental equipment sales associated with the fair value mark-up of rental equipment acquired in certain major acquisitions that was subsequently sold. (4)This primarily reflects severance and branch closure charges associated with our restructuring programs. The restructuring charges generally involve the closure of a large number of branches over a short period of time, often in periods following a major acquisition. The amounts above primarily reflect charges associated with the restructuring program that was initiated in the fourth quarter of 2025 (see note 4 to the condensed consolidated financial statements for additional detail on our restructuring programs). (5)This reflects write-offs of leasehold improvements and other fixed assets. EBITDA GAAP Reconciliations. EBITDA represents the sum of net income, provision for income taxes, interest expense, net, depreciation of rental equipment and non-rental depreciation and amortization. Adjusted EBITDA represents EBITDA plus the sum of the restructuring charges, stock compensation expense, net, and the impact of the fair value mark-up of acquired fleet. See below for further detail on each adjusting item. 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. The net income and adjusted EBITDA margins represent net income or adjusted EBITDA divided by total revenue. Management believes that EBITDA and adjusted EBITDA, when viewed with the Company’s results under GAAP and the accompanying reconciliations, provide useful information about operating performance and period-over-period growth, and provide additional information that is useful for evaluating the operating performance of our core business without regard to potential distortions. Additionally, management believes that EBITDA and adjusted EBITDA help investors gain an understanding of the factors and trends affecting our ongoing cash earnings, from which capital investments are made and debt is serviced. However, EBITDA and adjusted EBITDA are not measures of financial performance or liquidity under GAAP and, accordingly, should not be considered as alternatives to net income or cash flow from operating activities as indicators of operating performance or liquidity. Adjusted EBITDA for the three and six months ended June 30, 2026 includes the impact of the gain associated with the sale of part of our scaffolding business that is discussed above. The impact of the gain on sale of business for the three and six months ended June 30, 2026 was a net after-tax benefit of $37 to net income and a $49 benefit to adjusted EBITDA. Adjusted EBITDA for the six months ended June 30, 2025 includes the impact of the H&E merger termination benefit discussed above. 28 Table of Contents The impact of the merger termination for the six months ended June 30, 2025 was a net after-tax benefit of $29 to net income and a $52 benefit to adjusted EBITDA and net cash provided by operating activities. The table below provides a reconciliation between net income and EBITDA and adjusted EBITDA: Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Net income $ 753 $ 622 $ 1,284 $ 1,140 Provision for income taxes 254 217 424 387 Interest expense, net 178 171 354 355 Depreciation of rental equipment 704 651 1,385 1,288 Non-rental depreciation and amortization 116 108 230 222 EBITDA $ 2,005 $ 1,769 $ 3,677 $ 3,392 Restructuring charge (1) 6 — 51 1 Stock compensation expense, net (2) 43 34 79 70 Impact of the fair value mark-up of acquired fleet (3) 2 7 8 18 Adjusted EBITDA $ 2,056 $ 1,810 $ 3,815 $ 3,481 Net income margin 17.1 % 15.8 % 15.3 % 14.9 % Adjusted EBITDA margin 46.6 % 45.9 % 45.4 % 45.4 % The table below provides a reconciliation between net cash provided by operating activities and EBITDA and adjusted EBITDA: Six Months Ended June 30, 2026 2025 Net cash provided by operating activities $ 3,305 $ 2,753 Adjustments for items included in net cash provided by operating activities but excluded from the calculation of EBITDA: Amortization of deferred financing costs and original issue discounts (8) (8) Gain on sales of rental equipment 314 313 Gain on sales of non-rental equipment 7 10 Gain on sale of business (4) 49 — Insurance proceeds from damaged equipment 23 23 Restructuring charge (1) (51) (1) Stock compensation expense, net (2) (79) (70) Debt related activity (5) — (13) Changes in assets and liabilities (383) (494) Cash paid for interest 342 339 Cash paid for income taxes, net 158 540 EBITDA $ 3,677 $ 3,392 Add back: Restructuring charge (1) 51 1 Stock compensation expense, net (2) 79 70 Impact of the fair value mark-up of acquired fleet (3) 8 18 Adjusted EBITDA $ 3,815 $ 3,481 ___________________ (1)This primarily reflects severance and branch closure charges associated with our restructuring programs. The restructuring charges generally involve the closure of a large number of branches over a short period of time, often in periods following a major acquisition. The amounts above primarily reflect charges associated with the restructuring program that was initiated in the fourth quarter of 2025 (see note 4 to the condensed consolidated financial statements for additional detail on our restructuring programs). 29 Table of Contents (2)Represents non-cash, share-based payments associated with the granting of equity instruments. (3)This reflects additional costs recorded in cost of rental equipment sales associated with the fair value mark-up of rental equipment acquired in certain major acquisitions that was subsequently sold. (4)See above for a discussion of the gain recognized upon sale of part of our scaffolding business. (5)The amount for the six months ended June 30, 2025 reflects bridge financing fees associated with the terminated H&E acquisition discussed above. For the three months ended June 30, 2026, net income increased $131, or 21.1 percent, to $753, and net income margin increased 130 basis points to 17.1 percent, including the $37 after-tax gain on sale of business discussed above. Excluding the gain on sale of business, net income margin increased 40 basis points year-over-year, primarily due to increased gross margin from equipment rentals (reflecting increased margin for the general rentals segment, partially offset by decreased margin for the specialty segment, as explained further below (see “Results of Operations-Segment Equipment Rentals Gross Profit”)). See “Results of Operations" for further discussion of the significant items impacting our operating results. For the six months ended June 30, 2026, net income increased $144, or 12.6 percent, to $1.284 billion, and net income margin increased 40 basis points to 15.3 percent, including the impacts of the $37 after-tax gain on sale of business recognized in the six months ended June 30, 2026 and the net after-tax H&E merger termination benefit of $29 recognized in the six months ended June 30, 2025, both of which are discussed above. The 2026 gain on sale of business and the 2025 merger termination benefit had offsetting impacts on the net income margin variance, and net income margin for the six months ended June 30, 2026 excluding these items increased 40 basis points year-over-year, primarily reflecting 1) increased gross margin from equipment rentals and 2) reductions in selling, general and administrative ("SG&A") expenses and interest expense as a percentage of revenue, partially offset by 3) $51 of restructuring charges incurred in the six months ended June 30, 2026, primarily under the restructuring program that was initiated in the fourth quarter of 2025. The increased gross margin from equipment rentals reflected increased margin for the general rentals segment, partially offset by reduced margin for the specialty segment, as explained further below (see “Results of Operations-Segment Equipment Rentals Gross Profit”). The restructuring charges are discussed in note 4 to the condensed consolidated financial statements. See “Results of Operations" for further discussion of the significant items impacting our operating results. For the three months ended June 30, 2026, adjusted EBITDA increased $246, or 13.6 percent, to $2.056 billion, and adjusted EBITDA margin increased 70 basis points to 46.6 percent, including the $49 gain on sale of business discussed above. Excluding the gain on sale of business, adjusted EBITDA margin decreased 40 basis points year-over-year, primarily reflecting decreased gross margin from equipment rentals in the specialty rentals segment, as discussed below (see “Results of Operations-Segment Equipment Rentals Gross Profit”). See “Results of Operations" for further discussion of the significant items impacting our operating results. For the six months ended June 30, 2026, adjusted EBITDA increased $334, or 9.6 percent, to $3.815 billion, and adjusted EBITDA margin was flat year-over-year at 45.4 percent, including the impacts of the $49 gain on sale of business recognized in the six months ended June 30, 2026 and the net H&E merger termination benefit of $52 recognized in the six months ended June 30, 2025, both of which are discussed above. The 2026 gain on sale of business and the 2025 merger termination benefit had offsetting impacts on the adjusted EBITDA margin variance, and adjusted EBITDA margin for the six months ended June 30, 2026 excluding these items increased 10 basis points year-over-year, primarily reflecting a slight reduction in SG&A expenses as a percentage of revenue offset by a slight decrease in gross margin from equipment rentals (excluding depreciation and stock compensation expense). See “Results of Operations" for further discussion of the significant items impacting our operating results. Revenues are noted below. Fleet productivity is a comprehensive metric that provides greater insight into the decisions made by our managers in support of equipment rental growth and returns. Specifically, we seek to optimize the interplay of rental rates, time utilization and mix to drive rental revenue. Fleet productivity aggregates, in one metric, the impact of changes in rates, utilization and mix on owned equipment rental revenue. We believe that this metric is useful in assessing the effectiveness of our decisions on rates, time utilization and mix, particularly as they support the creation of shareholder value. The table below includes the components of the year-over-year change in rental revenue using the fleet productivity methodology. 30 Table of Contents Three Months Ended June 30, Six Months Ended June 30, 2026 2025 Change 2026 2025 Change Equipment rentals* $ 3,849 $ 3,415 12.7 % $ 7,268 $ 6,560 10.8 % Sales of rental equipment 330 317 4.1 % 680 694 (2.0) % Sales of new equipment 86 75 14.7 % 170 145 17.2 % Contractor supplies sales 44 41 7.3 % 84 77 9.1 % Service and other revenues 101 95 6.3 % 193 186 3.8 % Total revenues $ 4,410 $ 3,943 11.8 % $ 8,395 $ 7,662 9.6 % *Equipment rentals variance components: Year-over-year change in average OEC 7.1 % 6.4 % Assumed year-over-year inflation impact (1) (1.5) % (1.5) % Fleet productivity (2) 3.4 % 2.9 % Contribution from ancillary and re-rent revenue (3) 3.7 % 3.0 % Total change in equipment rentals 12.7 % 10.8 % ___________________ (1)Reflects the estimated impact of inflation on the revenue productivity of fleet based on OEC, which is recorded at cost. (2)Reflects the combined impact of changes in rental rates, time utilization, and mix that contribute to the variance in owned equipment rental revenue. See note 2 to the condensed consolidated financial statements for a discussion of the different types of equipment rentals revenue. Rental rate changes are calculated based on the year-over-year variance in average contract rates, weighted by the prior period revenue mix. Time utilization is calculated by dividing the amount of time an asset is on rent by the amount of time the asset has been owned during the year. Mix includes the impact of changes in customer, fleet, geographic and segment mix. (3)Reflects the combined impact of changes in the other types of equipment rentals revenue (see note 2 for further detail), excluding owned equipment rental revenue. Equipment rentals include our revenues from renting equipment, as well as revenue related to the fees we charge customers: for equipment delivery and pick-up; to protect the customer against liability for damage to our equipment while on rent; for fuel; and for environmental and other miscellaneous costs and services. Sales of rental equipment represent our revenues from the sale of used rental equipment. Sales of new equipment represent our revenues from the sale of new equipment. Contractor supplies sales represent our sales of supplies utilized by contractors, which include construction consumables, tools, small equipment and safety supplies. Services and other revenues primarily represent our revenues earned from providing repair and maintenance services on our customers’ fleet (including parts sales). See note 2 to the condensed consolidated financial statements for a discussion of our revenue recognition accounting. For the three months ended June 30, 2026, total revenues of $4.410 billion increased 11.8 percent compared with 2025. Equipment rentals and sales of rental equipment are our largest revenue types (together, they accounted for 95 percent of total revenue for the three months ended June 30, 2026). Equipment rentals increased $434, or 12.7 percent, primarily due to a 7.1 percent increase in average OEC and a 3.4 percent increase in fleet productivity. Sales of rental equipment did not change significantly year-over-year. For the six months ended June 30, 2026, total revenues of $8.395 billion increased 9.6 percent compared with 2025. Equipment rentals and sales of rental equipment are our largest revenue types (together, they accounted for 95 percent of total revenue for the six months ended June 30, 2026). Equipment rentals increased $708, or 10.8 percent, primarily due to a 6.4 percent increase in average OEC and a 2.9 percent increase in fleet productivity. Sales of rental equipment did not change significantly year-over-year. Results of Operations As discussed in note 3 to our condensed consolidated financial statements, our reportable segments are general rentals and specialty. The general rentals segment includes the rental of construction, aerial, industrial and homeowner equipment and related services and activities. The general rentals segment’s customers include construction and industrial companies, manufacturers, utilities, municipalities, homeowners and government entities. This segment operates throughout the United States and Canada. The specialty segment rents products (and provides setup and other services on such rented equipment) including (i) trench safety equipment, such as trench shields, aluminum hydraulic shoring systems, slide rails, crossing plates, construction lasers and line testing equipment for underground work, (ii) power and HVAC equipment, such as portable diesel generators, electrical distribution equipment, and temperature control equipment, (iii) fluid solutions equipment primarily used 31 Table of Contents for fluid containment, transfer and treatment, (iv) mobile storage equipment and modular office space and (v) surface protection mats. The specialty segment’s customers include construction companies involved in infrastructure projects, municipalities and industrial companies. This segment primarily operates in the United States and Canada, and has a smaller presence in Europe, Australia and New Zealand. As discussed in note 3 to our condensed consolidated financial statements, we aggregate our four geographic divisions—Central, Northeast, Southeast and West—into our general rentals reporting segment. Historically, there have occasionally been variances in the levels of equipment rentals gross margins achieved by these divisions, though such variances have generally been small (close to or less than 10 percent, measured versus the equipment rentals gross margins of the aggregated general rentals' divisions). For the five year period ended June 30, 2026, there was no general rentals' division with an equipment rentals gross margin that differed materially from the equipment rentals gross margin of the aggregated general rentals' divisions. The rental industry is cyclical, and there historically have occasionally been divisions with equipment rentals gross margins that varied by greater than 10 percent from the equipment rentals gross margins of the aggregated general rentals' divisions, though the specific divisions with margin variances of over 10 percent have fluctuated, and such variances have generally not exceeded 10 percent by a significant amount. We monitor the margin variances and confirm margin similarity between divisions on a quarterly basis. We believe that the divisions that are aggregated into our segments have similar economic characteristics, as each division is capital intensive, offers similar products to similar customers, uses similar methods to distribute its products, and is subject to similar competitive risks. The aggregation of our divisions also reflects the management structure that we use for making operating decisions and assessing performance. Although we believe aggregating these divisions into our reporting segments for segment reporting purposes is appropriate, to the extent that there are significant margin variances that do not converge, we may be required to disaggregate the divisions into separate reporting segments. Any such disaggregation would have no impact on our consolidated results of operations. These reporting segments align our external segment reporting with how management evaluates business performance and allocates resources. We evaluate segment performance primarily based on segment equipment rentals gross profit. Our revenues, operating results, and financial condition fluctuate from quarter to quarter reflecting the seasonal rental patterns of our customers, with rental activity tending to be lower in the winter. Revenues by segment were as follows: 32 Table of Contents General rentals Specialty Total Three Months Ended June 30, 2026 Equipment rentals $ 2,418 $ 1,431 $ 3,849 Sales of rental equipment 284 46 330 Sales of new equipment 39 47 86 Contractor supplies sales 25 19 44 Service and other revenues 89 12 101 Total revenue $ 2,855 $ 1,555 $ 4,410 Three Months Ended June 30, 2025 Equipment rentals $ 2,268 $ 1,147 $ 3,415 Sales of rental equipment 272 45 317 Sales of new equipment 49 26 75 Contractor supplies sales 22 19 41 Service and other revenues 87 8 95 Total revenue $ 2,698 $ 1,245 $ 3,943 Six Months Ended June 30, 2026 Equipment rentals $ 4,647 $ 2,621 $ 7,268 Sales of rental equipment 585 95 680 Sales of new equipment 87 83 170 Contractor supplies sales 46 38 84 Service and other revenues 173 20 193 Total revenue $ 5,538 $ 2,857 $ 8,395 Six Months Ended June 30, 2025 Equipment rentals $ 4,367 $ 2,193 $ 6,560 Sales of rental equipment 602 92 694 Sales of new equipment 92 53 145 Contractor supplies sales 42 35 77 Service and other revenues 168 18 186 Total revenue $ 5,271 $ 2,391 $ 7,662 Equipment rentals represented 87 percent of total revenues for the three months ended June 30, 2026. For the three months ended June 30, 2026, equipment rentals of $3.849 billion increased $434, or 12.7 percent, as compared to the same period in 2025, primarily due to a 7.1 percent increase in average OEC and a 3.4 percent increase in fleet productivity. For the three months ended June 30, 2026, equipment rentals represented 85 percent of total revenues for the general rentals segment. For the three months ended June 30, 2026, general rentals equipment rentals increased $150, or 6.6 percent, as compared to the same period in 2025, primarily reflecting increased average OEC. For the three months ended June 30, 2026, equipment rentals represented 92 percent of total revenues for the specialty segment. For the three months ended June 30, 2026, specialty equipment rentals increased $284, or 24.8 percent, as compared to the same period in 2025, primarily reflecting increased average OEC. For the six months ended June 30, 2026, equipment rentals represented 87 percent of total revenues. For the six months ended June 30, 2026, equipment rentals of $7.268 billion increased $708, or 10.8 percent, as compared to the same period in 2025, primarily due to a 6.4 percent increase in average OEC and a 2.9 percent increase in fleet productivity. For the six months ended June 30, 2026, equipment rentals represented 84 percent of total revenues for the general rentals segment. For the six months ended June 30, 2026, general rentals equipment rentals increased $280, or 6.4 percent, as compared to the same period in 2025, primarily reflecting increased average OEC. 33 Table of Contents For the six months ended June 30, 2026, equipment rentals represented 92 percent of total revenues for the specialty segment. For the six months ended June 30, 2026, specialty equipment rentals increased $428, or 19.5 percent, as compared to the same period in 2025, primarily reflecting increased average OEC. Sales of rental equipment. For the six months ended June 30, 2026, sales of rental equipment represented approximately 8 percent of our total revenues. For the three and six months ended June 30, 2026, sales of rental equipment did not change significantly year-over-year. Sales of new equipment. For the six months ended June 30, 2026, sales of new equipment represented approximately 2 percent of our total revenues. For the three and six months ended June 30, 2026, sales of new equipment increased 14.7 percent and 17.2 percent year-over-year, respectively, primarily due to normal variability. Contractor supplies sales represent our revenues associated with selling a variety of supplies, including construction consumables, tools, small equipment and safety supplies. For the six months ended June 30, 2026, contractor supplies sales represented approximately 1 percent of our total revenues. Contractor supplies sales for the three and six months ended June 30, 2026 did not change significantly year-over-year. Service and other revenues primarily represent our revenues earned from providing repair and maintenance services on our customers’ fleet (including parts sales). For the six months ended June 30, 2026, service and other revenues represented approximately 2 percent of our total revenues. For the three and six months ended June 30, 2026, service and other revenues did not change significantly year-over-year. Segment Equipment Rentals Gross Profit See note 3 to our condensed consolidated financial statements for additional information on segment performance. Segment equipment rentals gross profit and gross margin were as follows: General rentals Specialty Total Three Months Ended June 30, 2026 Equipment Rentals Gross Profit $ 865 $ 636 $ 1,501 Equipment Rentals Gross Margin 35.8 % 44.4 % 39.0 % Three Months Ended June 30, 2025 Equipment Rentals Gross Profit $ 796 $ 525 $ 1,321 Equipment Rentals Gross Margin 35.1 % 45.8 % 38.7 % Six Months Ended June 30, 2026 Equipment Rentals Gross Profit $ 1,618 $ 1,129 $ 2,747 Equipment Rentals Gross Margin 34.8 % 43.1 % 37.8 % Six Months Ended June 30, 2025 Equipment Rentals Gross Profit $ 1,475 $ 976 $ 2,451 Equipment Rentals Gross Margin 33.8 % 44.5 % 37.4 % General rentals. For the three months ended June 30, 2026, equipment rentals gross profit increased by $69, and equipment rentals gross margin increased by 70 basis points, year-over-year. Gross margin increased primarily due to a reduction in depreciation as a percentage of revenue. For the six months ended June 30, 2026, equipment rentals gross profit increased by $143, and equipment rentals gross margin increased by 100 basis points, year-over-year. Gross margin increased primarily due to better cost performance and fixed cost absorption on higher revenue, as reflected in reductions in depreciation and labor and benefits expenses as a percentage of revenue. Specialty. For the three months ended June 30, 2026, equipment rentals gross profit increased by $111, and equipment rentals gross margin decreased by 140 basis points, year-over-year. Gross margin decreased primarily due to changes in revenue mix driven by growth in lower-margin ancillary and re-rent revenues, partially offset by a reduction in labor and benefits expenses as a percentage of revenue. For the six months ended June 30, 2026, equipment rentals gross profit increased by $153, and equipment rentals gross margin decreased by 140 basis points, year-over-year. Gross margin decreased primarily due to changes in revenue mix driven 34 Table of Contents by growth in lower-margin ancillary and re-rent revenues, partially offset by a reduction in labor and benefits expenses as a percentage of revenue. Gross Margin. Gross margins by revenue classification were as follows: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 Change 2026 2025 Change Total gross margin 39.3 % 38.9 % 40 bps 38.1% 37.7% 40 bps Equipment rentals 39.0 % 38.7 % 30 bps 37.8% 37.4% 40 bps Sales of rental equipment 46.7 % 46.1 % 60 bps 46.2% 45.1% 110 bps Sales of new equipment 20.9 % 18.7 % 220 bps 18.8% 19.3% (50) bps Contractor supplies sales 31.8 % 31.7 % 10 bps 31.0% 29.9% 110 bps Service and other revenues 44.6 % 41.1 % 350 bps 42.5% 39.8% 270 bps For the three months ended June 30, 2026, total gross margin increased 40 basis points from 2025. Equipment rentals gross margin increased 30 basis points from 2025, reflecting increased margin for the general rentals segment, partially offset by reduced margin for the specialty segment, as discussed above. Gross margin from sales of rental equipment did not change significantly year-over-year. The gross margin fluctuations from sales of new equipment, contractor supplies sales and service and other revenues generally reflect normal variability, and such revenue types did not account for a significant portion of total gross profit (gross profit for these revenue types represented 4 percent of total gross profit for the three months ended June 30, 2026). For the six months ended June 30, 2026, total gross margin increased 40 basis points from 2025. Equipment rentals gross margin increased 40 basis points from 2025, reflecting increased margin for the general rentals segment, partially offset by reduced margin for the specialty segment, as discussed above. Gross margin from sales of rental equipment did not change significantly year-over-year. The gross margin fluctuations from sales of new equipment, contractor supplies sales and service and other revenues generally reflect normal variability, and such revenue types did not account for a significant portion of total gross profit (gross profit for these revenue types represented 4 percent of total gross profit for the six months ended June 30, 2026). Other costs/(income) The table below includes the other costs/(income) in our condensed consolidated statements of income, as well as key associated metrics: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 Change 2026 2025 Change Selling, general and administrative ("SG&A") expense $472 $422 11.8% $913 $859 6.3% SG&A expense as a percentage of revenue 10.7% 10.7% — bps 10.9% 11.2% (30) bps Restructuring charge 6 — —% 51 1 5,000.0% Non-rental depreciation and amortization 116 108 7.4% 230 222 3.6% Interest expense, net 178 171 4.1% 354 355 (0.3)% Other income, net (47) (7) 571.4% (55) (75) (26.7)% Provision for income taxes 254 217 17.1% 424 387 9.6% Effective tax rate 25.2% 25.9% (70) bps 24.8% 25.3% (50) bps SG&A expense primarily includes sales force compensation, information technology costs, third party professional fees, management salaries, bad debt expense and clerical and administrative overhead. SG&A expense for the six months ended June 30, 2025 included $12 of professional fees associated with the terminated H&E acquisition discussed above. Excluding the impact of the 2025 costs associated with the terminated H&E acquisition, SG&A expense for the six months ended June 30, 2026 decreased year-over-year as a percentage of revenue primarily due to better fixed cost absorption on higher revenue. The restructuring charges primarily reflect severance and branch closure charges associated with our restructuring programs. We incur severance costs and branch closure charges in the ordinary course of our business. We only include such costs that are part of a restructuring program as restructuring charges. The designated restructuring programs generally involve 35 Table of Contents the closure of a large number of branches over a short period of time, often in periods following a major acquisition, and result in significant costs that we would not normally incur absent a major acquisition or other triggering event that results in the initiation of a restructuring program. The amounts above primarily reflect charges associated with the restructuring program that was initiated in the fourth quarter of 2025 (see note 4 to the condensed consolidated financial statements for additional detail on our restructuring programs). Since the first such program was initiated in 2008, we have completed seven restructuring programs and have incurred total restructuring charges of $435. Non-rental depreciation and amortization includes (i) the amortization of other intangible assets and (ii) depreciation expense associated with equipment that is not offered for rent (such as computers and office equipment) and amortization expense associated with leasehold improvements. Our other intangible assets consist of customer relationships, non-compete agreements and trade names and associated trademarks. Interest expense, net for the three and six months ended June 30, 2026 did not change significantly year-over-year, as the impact of decreased variable debt interest rates was offset by increased average debt. The weighted average interest rates on our variable debt instruments were 4.8 percent for the three and six months ended June 30, 2026, and 5.6 percent for the three and six months ended June 30, 2025. Interest expense, net for the six months ended June 30, 2025 included $13 of bridge financing fees associated with the terminated H&E acquisition discussed above. Other income, net primarily includes (i) currency gains and losses, (ii) finance charges, (iii) gains and losses on sales of non-rental equipment and (iv) other miscellaneous items. Our results for the three and six months ended June 30, 2026 include the gain of $49 associated with the sale of part of our scaffolding business that is discussed above, and this gain was primarily recognized in other income, net. Other income, net for the six months ended June 30, 2025 included $64 of income associated with the receipt of the break-up fee associated with the terminated H&E acquisition discussed above. The effective tax rates for 2026 and 2025 differed from the federal statutory rate of 21 percent primarily due to the geographical mix of income between foreign and domestic operations, the impact of state and local taxes, stock compensation, and other deductible and nondeductible charges. Balance sheet. Accounts receivable, net increased by $287, or 11.4 percent, from December 31, 2025 to June 30, 2026, primarily due to increased revenue. Accounts payable increased by $834, or 107.5 percent, from December 31, 2025 to June 30, 2026, primarily due to seasonal increases in capital expenditures and business activities. See the condensed consolidated statements of cash flows for further information on changes in cash and cash equivalents, the condensed consolidated statements of stockholders’ equity for further information on changes in stockholders’ equity and note 6 to the condensed consolidated financial statements for further information on debt changes. 36 Table of Contents Liquidity and Capital Resources We manage our liquidity using internal cash management practices, which are subject to (i) the policies and cooperation of the financial institutions we utilize to maintain and provide cash management services, (ii) the terms and other requirements of the agreements to which we are a party and (iii) the statutes, regulations and practices of each of the local jurisdictions in which we operate. In April 2025, our Board of Directors authorized a $1.5 billion share repurchase program, which was increased to $2.0 billion following the enactment of new federal tax legislation in July 2025. This program was completed in the first quarter of 2026. In January 2026, our Board of Directors authorized a new $5.0 billion share repurchase program that has no expiration date, and share repurchases under this program began in March 2026, following completion of the prior $2.0 billion share repurchase program. We have repurchased $400 under the $5.0 billion program through June 30, 2026. We intend to complete $1.5 billion of total share repurchases in 2026, comprised of $1.15 billion of share repurchases under the $5.0 billion program and the $350 of share repurchases made to complete the $2.0 billion program. A 1 percent excise tax is imposed on “net repurchases” (certain purchases minus certain issuances) of common stock. The share repurchases above (as well as the total program sizes) do not include the excise tax, which totaled $6 year-to-date through June 30, 2026 (the total excise tax amount relates to both the current program and the prior program that was completed in the first quarter of 2026). Since 2012, we have repurchased a total of $10.152 billion (inclusive of excise taxes, which were first imposed in 2023) of Holdings' common stock under our share repurchase programs (comprised of ten programs that have ended, including the program that was completed in the first quarter of 2026, and the current program). During the six months ended June 30, 2026 and 2025, we paid dividends totaling $248 ($3.94 per share) and $235 ($3.58 per share), respectively. On July 22, 2026, our Board of Directors declared a quarterly dividend of $1.97 per share, payable on August 26, 2026 to stockholders of record on August 12, 2026. Our principal existing sources of cash are cash generated from operations and from the sale of rental equipment, and borrowings available under our ABL and accounts receivable securitization facilities. As of June 30, 2026, we had cash and cash equivalents of $112. We believe that our existing sources of cash will be sufficient to support our existing operations over the next 12 months. The table below presents financial information associated with our principal sources of cash as of and for the six months ended June 30, 2026: ABL facility: Borrowing capacity, net of letters of credit $ 2,802 Outstanding debt, net of debt issuance costs (1) 1,666 Interest rate at June 30, 2026 4.7 % Average month-end principal amount of debt outstanding (1) 1,391 Weighted-average interest rate on average debt outstanding 4.7 % Maximum month-end principal amount of debt outstanding (1) 1,677 Accounts receivable securitization facility: Borrowing capacity 85 Outstanding debt, net of debt issuance costs 1,414 Interest rate at June 30, 2026 4.6 % Average month-end principal amount of debt outstanding 1,480 Weighted-average interest rate on average debt outstanding 4.6 % Maximum month-end principal amount of debt outstanding 1,500 ___________________ (1)The outstanding and maximum amounts of debt under the ABL facility exceeded the average outstanding amount primarily due to the use of borrowings under the facility to fund seasonal expenditures. 37 Table of Contents We expect that our principal short-term (over the next 12 months) and long-term needs for cash relating to our operations will be to fund (i) operating activities and working capital, (ii) the purchase of rental equipment and inventory items offered for sale, (iii) payments due under operating leases, (iv) debt service, (v) share repurchases, (vi) dividends and (vii) acquisitions. We plan to fund such cash requirements from our existing sources of cash. In addition, we may seek additional financing through the securitization of some of our real estate, the use of additional operating leases or other financing sources as market conditions permit. To access the capital markets, we rely on credit rating agencies to assign ratings to our securities as an indicator of credit quality. Lower credit ratings generally result in higher borrowing costs and reduced access to debt capital markets. Credit ratings also affect the costs of derivative transactions, including interest rate and foreign currency derivative transactions. As a result, negative changes in our credit ratings could adversely impact our costs of funding. Our credit ratings as of July 20, 2026 were as follows: Corporate Rating Outlook Moody’s Ba1 Stable Standard & Poor’s BB+ Positive A security rating is not a recommendation to buy, sell or hold securities. There is no assurance that any rating will remain in effect for a given period of time or that any rating will not be revised or withdrawn by a rating agency in the future. Loan Covenants and Compliance. As of June 30, 2026, we were in compliance with the covenants and other provisions of the ABL, accounts receivable securitization and term loan facilities and the senior notes. Any failure to be in compliance with any material provision or covenant of these agreements could have a material adverse effect on our liquidity and operations. The only financial covenant that currently exists under the ABL facility is the fixed charge coverage ratio. Subject to certain limited exceptions specified in the ABL facility, the fixed charge coverage ratio covenant under the ABL facility will only apply in the future if specified availability under the ABL facility falls below 10 percent of the maximum revolver amount under the ABL facility for five consecutive business days. When certain conditions are met, cash and cash equivalents and borrowing base collateral in excess of the ABL facility size may be included when calculating specified availability under the ABL facility. As of June 30, 2026, specified availability under the ABL facility exceeded the required threshold and, as a result, this financial covenant was inapplicable. Under our accounts receivable securitization facility, we are required, among other things, to maintain certain financial tests relating to: (i) the default ratio, (ii) the delinquency ratio, (iii) the dilution ratio and (iv) days sales outstanding. The accounts receivable securitization facility also requires us to comply with the fixed charge coverage ratio under the ABL facility, to the extent the ratio is applicable under the ABL facility. Covenants in the agreements governing our ABL facility, term loan facility and certain other debt instruments impose limitations on our ability to make share repurchases and dividend payments, subject to important exceptions that would allow us to make such repurchases or payments under certain conditions. Based on our current total indebtedness leverage ratio (as defined in the applicable debt agreements) and usage of the ABL facility as of June 30, 2026, we met the criteria under the applicable debt agreements for these exceptions, and as a result we were not restricted in our ability to make share repurchases and dividend payments. Sources and Uses of Cash. During the six months ended June 30, 2026, we (i) generated cash from operating activities of $3.305 billion, (ii) generated cash from the sale of rental and non-rental equipment of $706 and (iii) received proceeds from the sale of part of our scaffolding business of $82. We used cash during this period principally to (i) make payments for purchases of rental and non-rental equipment and intangible assets of $2.885 billion, (ii) purchase other companies for $400, (iii) make debt payments, net of proceeds, of $91, (iv) purchase shares of our common stock for $816 and (v) pay dividends of $248. Cash paid for income taxes, net decreased from $540 for the six months ended June 30, 2025 to $158 for the six months ended June 30, 2026, primarily due to the impact of federal tax legislation that was enacted in July 2025 (such tax legislation did not materially impact our effective tax rate). During the six months ended June 30, 2025, we (i) generated cash from operating activities of $2.753 billion, including $52 associated with the H&E merger termination benefit discussed above, and (ii) generated cash from the sale of rental and non-rental equipment of $725. We used cash during this period principally to (i) make payments for purchases of rental and non-rental equipment and intangible assets of $2.303 billion, (ii) make debt payments, net of proceeds, of $123, (iii) purchase shares of our common stock for $720 and (iv) pay dividends of $235. Free Cash Flow GAAP Reconciliation. We define “free cash flow” as net cash provided by operating activities less payments for purchases of, and plus proceeds from, equipment and intangible assets. The equipment and intangible asset items are included in cash flows from investing activities. Management believes that free cash flow provides useful additional information concerning cash flow available to meet future debt service obligations and working capital requirements. However, free cash flow is not a measure of financial performance or liquidity under GAAP. Accordingly, free cash flow should not be 38 Table of Contents considered an alternative to net income or cash flow from operating activities as an indicator of operating performance or liquidity. The table below provides a reconciliation between net cash provided by operating activities and free cash flow. Six Months Ended June 30, 2026 2025 Net cash provided by operating activities $ 3,305 $ 2,753 Payments for purchases of rental equipment (2,720) (2,121) Payments for purchases of non-rental equipment and intangible assets (165) (182) Proceeds from sales of rental equipment 680 694 Proceeds from sales of non-rental equipment 26 31 Insurance proceeds from damaged equipment 23 23 Free cash flow $ 1,149 $ 1,198 Free cash flow for the six months ended June 30, 2026 did not change significantly year-over-year, as the impact of higher net payments for rental capital expenditures (payments for purchases of rental equipment less the proceeds from sales of rental equipment) was offset by increased net cash provided by operating activities. Net cash provided by operating activities and free cash flow for the six months ended June 30, 2025 both included the $52 H&E merger termination benefit discussed above. Relationship between Holdings and URNA. Holdings is principally a holding company and primarily conducts its operations through its wholly owned subsidiary, URNA, and subsidiaries of URNA. Holdings licenses its tradename and other intangibles and provides certain services to URNA in connection with its operations. These services principally include: (i) senior management services; (ii) finance and tax-related services and support; (iii) information technology systems and support; (iv) acquisition-related services; (v) legal services; and (vi) human resource support. In addition, Holdings leases certain equipment and real property that are made available for use by URNA and its subsidiaries. Information Regarding Guarantors of URNA Indebtedness URNA is 100 percent-owned by Holdings and has certain series of its senior notes that are guaranteed by both Holdings and certain U.S. subsidiaries of URNA, including United Rentals Highway Technologies Gulf, LLC, United Rentals (Delaware), Inc. and United Rentals Realty, LLC (together, the “guarantor subsidiaries”). Other than the guarantee by our Canadian subsidiary of URNA's indebtedness under the ABL facility, none of URNA’s indebtedness is guaranteed by URNA's foreign subsidiaries, the U.S. special purpose vehicle which holds receivable assets relating to the Company’s accounts receivable securitization facility (the “SPV”), certain immaterial subsidiaries or the foreign subsidiary holding company acquired in connection with the General Finance acquisition (together, the “non-guarantor subsidiaries”). The receivable assets owned by the SPV have been sold or contributed by URNA to the SPV and are not available to satisfy the obligations of URNA or Holdings’ other subsidiaries. Holdings consolidates each of URNA and the guarantor subsidiaries in its consolidated financial statements. URNA and the guarantor subsidiaries are all 100 percent-owned and controlled by Holdings. Holdings’ guarantees of URNA’s indebtedness are full and unconditional, except that the guarantees may be automatically released and relieved upon satisfaction of the requirements for legal defeasance or covenant defeasance under the applicable indenture being met. The Holdings guarantees are also subject to subordination provisions (to the same extent that the obligations of the issuer under the relevant notes are subordinated to other debt of the issuer) and to a standard limitation which provides that the maximum amount guaranteed by Holdings will not exceed the maximum amount that can be guaranteed without making the guarantee void under fraudulent conveyance laws. The guarantees of Holdings and the guarantor subsidiaries are made on a joint and several basis. The guarantees of the guarantor subsidiaries are not full and unconditional because a guarantor subsidiary can be automatically released and relieved of its obligations under certain circumstances, including sale of the guarantor subsidiary, the sale of all or substantially all of the guarantor subsidiary's assets, the requirements for legal defeasance or covenant defeasance under the applicable indenture being met, designating the guarantor subsidiary as an unrestricted subsidiary for purposes of the applicable covenants or the notes being rated investment grade by certain rating agencies as specified in the applicable indenture. Like the Holdings guarantees, the guarantees of the guarantor subsidiaries are subject to subordination provisions (to the same extent that the obligations of the issuer under the relevant notes are subordinated to other debt of the issuer) and to a standard limitation which provides that the maximum amount guaranteed by each guarantor will not exceed the maximum amount that can be guaranteed without making the guarantee void under fraudulent conveyance laws. All of the existing guarantees by Holdings and the guarantor subsidiaries rank equally in right of payment with all of the guarantors' existing and future senior indebtedness. The secured indebtedness of Holdings and the guarantor subsidiaries (including guarantees of URNA’s existing and future secured indebtedness) will rank effectively senior to guarantees of any 39 Table of Contents unsecured indebtedness to the extent of the value of the assets securing such indebtedness. Future guarantees of subordinated indebtedness will rank junior to any existing and future senior indebtedness of the guarantors. The guarantees of URNA’s indebtedness are effectively junior to any indebtedness of our subsidiaries that are not guarantors, including our foreign subsidiaries. As of June 30, 2026, the indebtedness, net of debt issuance costs, of our non-guarantors was comprised of (i) $1.414 billion of outstanding borrowings by the SPV in connection with the Company’s accounts receivable securitization facility, (ii) $147 of outstanding borrowings under the ABL facility by non-guarantor subsidiaries and (iii) $15 of finance leases of our non-guarantor subsidiaries. Covenants in the agreements governing our ABL facility, term loan facility and certain other debt instruments impose limitations on our ability to make share repurchases and dividend payments, subject to important exceptions that would allow us to make such repurchases or payments under certain conditions. Based on our current total indebtedness leverage ratio (as defined in the applicable debt agreements) and usage of the ABL facility as of June 30, 2026, we met the criteria under the applicable debt agreements for these exceptions, and as a result we were not restricted in our ability to make share repurchases and dividend payments. Based on our understanding of Rule 3-10 of Regulation S-X (“Rule 3-10”), we believe that Holdings’ guarantees of URNA indebtedness comply with the conditions set forth in Rule 3-10, which enables us to present summarized financial information for Holdings, URNA and the consolidated guarantor subsidiaries in accordance with Rule 13-01 of Regulation S-X. The summarized financial information excludes the financial information of the non-guarantor subsidiaries. In accordance with Rule 3-10, separate financial statements of the guarantor subsidiaries have not been presented. Our presentation below excludes the investment in the non-guarantor subsidiaries and the related income from the non-guarantor subsidiaries. The summarized financial information of Holdings, URNA and the guarantor subsidiaries on a combined basis is as follows: June 30, 2026 Current receivable from non-guarantor subsidiaries $3 Other current assets 613 Total current assets 616 Long-term assets 25,121 Total assets 25,737 Current liabilities 2,977 Long-term liabilities 16,865 Total liabilities 19,842 Six Months Ended June 30, 2026 Total revenues $7,645 Gross profit 2,952 Net income 1,136 40 Table of Contents