Rental Rental Sales ($ millions, except where indicated) • Rental revenue increased by more than $1M vs. Q3 '22 4.6x 4.4x 4.3x 4.0x 3.8x 3.8x 3.8x 3.5x 2.0x 2.5x 3.0x 3.5x 4.0x 4.5x Deal Close Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 • Expect to be free cash flow positive for the year (in $ millions) (3) Adjusted Gross Profit and Adjusted EBITDA data for YTD '21 are each shown adding back $10M of previously disclosed leasing receivables and inventory reserve charges. ($ millions, except where indicated) • ...

Custom Truck One Source, Inc. (NYSE:CTOS) Q4 2022 Earnings Conference Call March 14, 2023 5:00 PM ET Company Participants Brian Perman - VP, IR Fred Ross - CEO Ryan McMonagle - President and COO Chris Eperjesy - CFO Conference Call Participants Scott Schneeberger - Oppenheimer Michael Shlisky - D.A. Davidson Companies Kenneth Chung - Citigroup Noelle Dilts - Stifel Justin Hauke - Robert W. Baird Operator Ladies and gentlemen, thank you for standing by and welcome to the Custom Truck One Sources. Fourth Quar ...

Market Overview - The annual capital expenditure in the electric utility T&D end-market is approximately $65 billion, driven by the need for grid resiliency and renewable energy investments [28]. - Telecommunications infrastructure spending has exceeded approximately $80 billion annually, with a projected growth due to the deployment of 5G technology [33]. - The spend required by key telecom operators to deploy 5G technology is expected to grow at a 47.6% CAGR from 2022 to 2030, totaling approximately $198 billion [35]. - The total infrastructure capital expenditure spend annually exceeds $200 billion, indicating a positive outlook for the infrastructure end-market [40]. - The backlog of projects required to attain a "state of good repair" for public transit is estimated at $90 billion, projected to grow to $122 billion by 2032 [38]. - The municipal solid waste revenue is projected to grow at a CAGR of 3.3% from 2020 to 2027, driven by increasing waste generation per capita [41]. - The six largest public railroads in North America spend more than $10 billion annually in capital expenditures, with growth expected as freight demands increase [36]. Company Operations - Custom Truck operates one of the industry's largest specialty rental equipment fleets, comprising over 10,000 units with an average age of approximately 3.7 years [21]. - The rental fleet consists of over 10,000 units, with an average age of 3.7 years, achieving over 80% utilization on average over the last two years [51]. - The company serves more than 3,000 customers, with the top 15 customers representing approximately 25% of total revenue, and no single customer exceeding 4% of total revenue in 2022 [53]. - The company has identified additional attractive geographic markets for potential expansion, despite already operating more than 35 locations [52]. - The company maintains a diverse geographic footprint with over 100 third-party service locations to enhance customer service [52]. - The company has a diverse geographic footprint with over 35 equipment rental and service locations across the U.S. and Canada, focusing on a one-stop shop approach [151]. - The company has launched an e-commerce platform to sell proprietary Load King™ equipment parts and other specialty equipment parts [60]. - The company focuses on four primary end-markets: Electric Utility Transmission and Distribution, Telecom, Rail, and Infrastructure, with continued demand observed in these sectors [200]. Financial Performance - Total revenue for the year ended December 31, 2022, was $1,573,086, a 34.8% increase from $1,167,154 in 2021, driven by strong customer demand and the addition of Custom Truck LP's revenues [204]. - Rental revenue increased to $464,039, representing 29.5% of total revenue, up from $370,067 (31.7%) in 2021, reflecting higher utilization and pricing gains [204]. - Equipment sales rose to $982,341, accounting for 62.4% of total revenue, a 41.3% increase from $695,334 in 2021, aided by improved supply chain conditions [204]. - Gross profit for 2022 was $383,748, an 82.7% increase from $210,013 in 2021, resulting in a gross profit margin of 24.4% [204]. - Net income for the year was $38,905, a significant recovery from a net loss of $181,501 in 2021, marking a change of $220,406 [210]. - Adjusted EBITDA for 2022 was $392,978, a 41.5% increase from $277,784 in 2021, reflecting improved operational performance [216]. - The overall effective tax rate for 2022 was 16.7%, with a tax expense of $7.8 million recognized, compared to a negative rate of (2.5)% and $4.4 million tax expense in 2021 [207]. Debt and Financial Risks - As of December 31, 2022, the company's total indebtedness was $1,394.4 million, including $920.0 million in 2029 Secured Notes and $437.7 million under the Asset Based Lending Facility [117]. - The company faces significant risks related to its high level of indebtedness, which could limit its ability to obtain future financing and affect its operational flexibility [118]. - The company has variable rate debt of $437.7 million under the ABL Facility, exposing it to interest rate risk; a one-eighth percentage point increase in interest rates would increase interest expense by approximately $0.5 million per year [127]. - The company is subject to significant operating and financial restrictions under its debt agreements, which may limit its ability to capitalize on business opportunities [126]. - The company may need to adopt alternatives such as refinancing or selling assets if it cannot generate sufficient cash flows to meet its obligations [122]. Operational Challenges - The company faces risks related to supply chain disruptions, including semiconductor shortages, which could adversely affect revenue generation [104]. - Uncertainty in macroeconomic conditions, including rising inflation and supply chain disruptions, may adversely affect demand for the company's products and services [107]. - Regulatory changes in core end-markets could lead to reduced spending by customers on the company's products and services, impacting revenues [109]. - The company may encounter difficulties in integrating acquired businesses, which could lead to higher costs and delays in realizing anticipated benefits [110]. - Cybersecurity risks have increased, with the company experiencing ongoing cyberattacks that could adversely affect operating results and reputation [135]. - The company maintains insurance coverage for cybersecurity risks, but there is no guarantee that all costs or losses will be covered [137]. - The company may incur significant costs to comply with evolving climate-related regulations and standards, impacting financial condition and operations [145]. Employee and Corporate Governance - The company has a workforce that includes 8% military veteran employees, contributing valuable skills and attributes [75]. - The company emphasizes safety with a network of approximately 100 Safety Ambassadors to promote a safe workplace [80]. - The company is committed to lifelong learning, providing tuition assistance and training for employee development [77]. - The company offers competitive pay and benefits, including a 401(k) savings program with company matching [81]. - The company provided 20 paid internships and hired 11 full-time employees from a local behavior support organization in 2022 [76]. - The company has established reserves for legal claims and believes that existing legal matters will not materially affect its financial condition [85]. - The company does not expect any pending lawsuits or claims to have a material adverse impact on its financial condition [155]. Acquisitions and Stock Information - Custom Truck One Source, Inc. completed the acquisition of Custom Truck One Source, L.P. for a purchase price of $1.5 billion on April 1, 2021 [169]. - The company issued 148.6 million shares of common stock to Platinum at a price of $5.00 per share as part of the acquisition financing [169]. - The company has never declared or paid cash dividends and does not anticipate doing so in the foreseeable future [162]. - A stock repurchase program was authorized for up to $30 million of the company's common stock, with no expiration date [163]. - During Q4 2022, the company purchased 1,443,797 shares at an average price of $6.31 per share [164]. - The company has approximately 68 holders of record of its common stock and 14 holders of record of warrants as of March 8, 2023 [159]. - The company operates a total of 68 properties, with a mix of owned and leased locations across the United States and Canada [153].

Custom Truck One Source, Inc. (NYSE:CTOS) Q3 2022 Results Conference Call November 8, 2022 5:00 PM ET Company Participants Brian Perman - VP, IR Fred Ross - CEO Ryan McMonagle - President and COO Chris Eperjesy - CFO Conference Call Participants Nicole DeBlase - Deutsche Bank Justin Hauke - Baird Stefanos Crist - CJS Securities Noelle Dilts - Stifel Scott Schneeberger - Oppenheimer Operator Greetings. And welcome to the Custom Truck One Source Inc. Third Quarter 2022 Earnings Conference Call. [Operator Inst ...

Table of Contents _______________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38186 _______________________________ CUSTOM TRUCK ONE ...

1 CONFIDENTIAL DRAFT Custom Truck One Source 2nd Quarter 2022 Investor Presentation August 9, 2022 2 2 Forward-Looking Statements This presentation includes certain financial measures that have not been prepared in a manner that complies with generally accepted accounting principles in the United States ("GAAP"), including, without limitation, EBITDA, Adjusted EBITDA, and Pro Forma Adjusted EBITDA (collectively, the "non-GAAP financial measures"). These non-GAAP financial measures are not measures of financ ...

Custom Truck One Source, Inc. (NYSE:CTOS) Q2 2022 Earnings Conference Call August 9, 2022 5:00 PM ET Company Participants Brian Perman - Vice President-Investor Relations Fred Ross - Chief Executive Officer Ryan McMonagle - President and Chief Operating Officer Todd Barrett - Interim Chief Financial Officer Conference Call Participants Scott Schneeberger - Oppenheimer Nicole DeBlase - Deutsche Bank Stefanos Crist - CJS Securities Noelle Dilts - Stifel Justin Hauke - Robert W. Baird Operator Ladies and gentl ...

Table of Contents _______________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38186 _______________________________ CUSTOM TRUCK ONE SOURC ...

1 CONFIDENTIAL DRAFT Custom Truck One Source 1st Quarter 2022 Investor Presentation May 10, 2022 2 2 Forward-Looking Statements This presentation includes certain financial measures that have not been prepared in a manner that complies with generally accepted accounting principles in the United States ("GAAP"), including, without limitation, EBITDA, Adjusted EBITDA, and Pro Forma Adjusted EBITDA (collectively, the "non-GAAP financial measures"). These non-GAAP financial measures are not measures of financia ...

Custom Truck One Source, Inc. (NYSE:CTOS) Q1 2022 Earnings Conference Call May 10, 2022 5:00 PM ET Company Participants Brian Perman - Vice President-Investor Relations Fred Ross - Chief Executive Officer Ryan McMonagle - President & Chief Operating Officer Brad Meader - Chief Financial Officer Todd Barrett - Chief Accounting Officer Conference Call Participants Justin Hauke - Baird Nicole DeBlase - Deutsche Bank Stefanos Crist - CJS Securities Scott Schneeberger - Oppenheimer Noelle Dilts - Stifel Operator ...