Highlights of the Partnership Between T. Rowe Price and United Rentals. Solutions. Service. Scale. United Rentals + RSC + T.

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1 Solutions. Service. Scale. United Rentals RETIREMENT Plan Highlights of the Partnership Between T. Rowe Price and United Rentals T. Rowe Price Retirement Plan Services, Inc. United Rentals + RSC + T. Rowe Price Equipped for growth

2 T. Rowe Price Retirement Plan Services, Inc. 1. Global Account management: The Big Picture United Rentals relationship manager, Jean Fisher, provides more than team leadership. Jean also works as United Rentals strategic partner to deliver insight and accountability, and to ensure United Rentals satisfaction. Jean: Manages all aspects of service delivered by T. Rowe Price Retirement Plan Services, Inc. Leads the T. Rowe Price service team to fulfill goals jointly determined with the United Rentals team Is responsible and fully accountable for United Rentals complete satisfaction Meets regularly for strategic and investment reviews Assists the United Rentals organization with identifying fiduciary responsibilities Fosters the strategic partner relationship through personal service 2. Plan Services: Nuts and Bolts While United Rentals retirement plans have evolved, we ve demonstrated our flexibility and expertise in a climate of rapid change. Added target-date funds to the lineup, which now attract over 41% of new contributions and currently account for 27% of plan assets Introduced auto-increase service on an opt-in basis to help improve participant deferral rates over the long term Implemented significant plan service changes to outsource plan recordkeeping and participant services including the implementation of online beneficiary tracking Introduced a fiduciary toolkit to help United Rentals manage its fiduciary responsibilities Supported United Rentals move to a new payroll system Added encrypted as a valueadded security measure Closed TradeLink Brokerage service to new contributions to minimize fiduciary concerns Customized and enhanced online tools to allow additional reportingand to share files Continuously monitored our internal feedback tools, allowing our phone representatives to share participant suggestions and concerns to facilitate plan enhancements Added non-spousal beneficiary rollovers through direct transfers of non-spousal beneficiary distributions to IRA Audited and updated all procedural flows and incorporated them into the Plan Sponsor Web site for convenient reference Added Roth contributions, providing an additional savings opportunity to employees Closely monitored market downturn in and provided regular updates to United Rentals

3 3. Participant Communications: Results by design We never lose sight of our ultimate goal to help United Rentals participants save successfully for retirement. We ve created customized communication campaigns that reflect United Rentals brand, inform participants, and get results. Supported initial plan conversion and any subsequent conversion, acquisition, or corporate action through customized communications Supported educational employee meetings in multiple locations via the Web and in person Focused on personalized messaging to drive results. In 2011, an enrollment campaign was launched that included webinars, newsletters, postcards, and personalized annual increase statements to more than 2,000 employees, which resulted in 233 new deferrals Implemented ongoing communications and education. Some highlights include: Promoting investment guidance and diversification Educating participants on investment changes Providing a robust Web-based suite of educational tools, calculators, and services to help drive improved retirement income for participants and support decentralized human resource staff, including: 24/7 mobile access, enhanced Web-based features chat and click to call for quick response, and launching Retirement Income Manager SM Created successful program of trained United Rentals ambassadors empowered to help employees with plan education inquiries Strategized and developed custom communications, addressing plan and investment changes, unique events, automated solutions, and simplified services Targeting participants with low savings rates

4 4. Plan Compliance: By the Book Our Compliance Services division has demonstrated its aptitude, accuracy, and timeliness. Provided ongoing nondiscrimination testing support, which includes evaluation and projection analysis for the main plan and the union plan Partnered with United Rentals to cap highly compensated employees, which has resulted in passing nondiscrimination tests for the past five years Provided continuous support for payroll adjustments and prevention measures Consulted on potential adoption of auto-enrollment and auto-increase plan design and completed multiple match projections to determine associated plan costs for committee review Continued to communicate and discuss implications of complex fee disclosure requirements Conducted research, analysis, and proactive consultation regarding legislative and regulatory changes and the impact to United Rentals Provided fiduciary support through value-added insights via timely webinars and FiduciarySource SM 5. Investment Flexibility and Proactive Fee Oversight T. Rowe Price is committed to investment management excellence and full fee disclosure. We are also committed to providing investment flexibility through T. Rowe Price s open architecture platform. Over the past 12 years, T. Rowe Price has a history of reducing fees on T. Rowe Price investments and helping United Rentals reach its objective of enhancing the plans investment options. Some highlights of our collaboration include: 2003 T. Rowe Price added Retirement Funds, offering an easy-to-understand structure and professional portfolio management 2005 Closed the T. Rowe Price Growth & Income Fund and mapped to the T. Rowe Price Value Fund 2006 Closed the T. Rowe Price International Stock Fund and replaced with the Dodge and Cox International Stock Fund 2007 Reduced recordkeeping fee from $20 to $10 per participant Added T. Rowe Price Retirement 2050 and 2055 investment options 2008 Added a $35,000 communications allowance and 10 employee meeting days for no additional cost 2009 Exchanged into the Vanguard Institutional Index from the T. Rowe Price Equity Index Trust 2010 Eliminated trustee fees Added PIMCO Total Return Institutional Fund 2011 Eliminated recordkeeping fees of $10 per participant Added Vanguard Total Bond Market Index Fund and Vanguard International Stock Fund

5 Experienced People you can rely on. People you can trust. Over the past 12 years, we ve helped you strengthen and grow the United Rentals plans to help your employees reach a better retirement. Accomplishments include increased participation and portfolio diversification, greater investment flexibility, enhanced participant services, and consistent fee oversight. Together we ve achieved a great deal. We ask for the opportunity to deepen our relationship as your organization continues to grow. Your dedicated service team Your team is experienced and committed to quality services: Jean Fisher, Relationship Manager Jean is a vice president relationship manager of T. Rowe Price Retirement Plan Services, Inc. She is your strategic collaborator and is ultimately responsible for your satisfaction. Debra Federick, Retirement Plan Coordinator Debra is your primary contact for daily plan-related questions. She is available to assist you with the day-to-day administrative details. Dorothy Ditton, Compliance Analyst Dorothy is a compliance manager with T. Rowe Price Retirement Plan Services, Inc. She is responsible for consulting with you concerning legislative and regulatory plan compliance and analyzing effects of new legislation on your plan design and operation. Heather Foster, Communications Consultant Heather is a communications consultant with T. Rowe Price Retirement Plan Services, Inc. Her primary role is working with you as a strategic partner to develop goals and effective solutions for educating employees about your retirement plans. Suzy Flahive, Conversion Manager Jeremy McCurdy, Conversion Consultant Suzy and Jeremy will manage your plan conversion. They leverage resources and best practice considerations to ensure that the transition to T. Rowe Price is seamless. Stanley Gbandawa, Client Administration Manager Stanley manages the United Rentals operations team. He is responsible for ensuring your satisfaction with the day-today operations of the plan. UR_bro_prs_0512 6/

6 Our History With United Rentals T. Rowe Price is proud to have collaborated with United Rentals for more than 12 years, helping to design and deliver improved retirement outcomes for United Rentals employees. Highlights of our partnership include: April 2000 Converted and merged three plans to T. Rowe Price May 2006 Successfully completed Handy Rent acquisition May 2007 Successfully completed spinoff for Highway Technologies Moving Forward We are eager to continue working with you to expand our relationship, achieve your new objectives, and enhance the United Rentals plans for you and your participants. Here s a look at just some of what s ahead: Enhanced holistic, practical, and personalized participant experience, including personalized check-ins and one-on-one retirement consultations. Integration of future acquisitions Ongoing discussions related to investment product opportunities November 2007 Strategized and communicated stock merger that was eventually repudiated June 2008 Strategized and communicated the completion of a modified Dutch auction October 2008 Merged acquisition plan into the investment plan for added efficiencies January 2009 Strategized and developed communications related to the reduction in force and matching contribution change January 2011 Supported communications to highlight increased matching contribution Enhanced plan analysis tools to measure participant retirement income Expanded planning tools to help participants achieve retirement readiness Addition of Morningstar Advice services Addition of Retirement Income Manager SM distribution component Targeted participation campaign for units with low participation Introduction of auto-enrollment and auto-increase T. Rowe Price at a glance Pioneer in retirement planning and investing Founded in 1937 Offering mutual funds within retirement plans since 1972 Committed to full-service retirement plan service since 1982 Solely focused on investment management and retirement plan services Leader in developing industry innovations such as auto-services $554.8 billion in assets under management (60% of which are retirement related)* Flexible, cost-effective investment options Dedicated service team supported by advanced technology capabilities Comprehensive education and communications resources Service capabilities for defined contribution, defined benefit, and nonqualified plans *As of March 31, 2012.