QUARTERLY INVESTOR PRESENTATION THIRD QUARTER 2025 November 6, 2025 2 SAFE HARBOR Forward Looking Statements This presentation contains forward-looking statements (including the guidance/outlook contained herein) within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. The words "estimates," "expects," "anticipates," "believes," "forecasts," "plans," "intends," "may," "will," "should," "shall," "outlook," "guidance," ...

Financial Performance - Q2 2025 total revenues decreased by 3% year-over-year to $589.083 million[64, 87] - Leasing revenue decreased by 3% year-over-year to $442.916 million[64, 87] - Adjusted EBITDA Margin decreased by approximately 130 bps year-over-year to 42.3%[64] - Adjusted Free Cash Flow Margin was 22% in Q2 2025 and 23.6% over the last twelve months[69, 110] - Leverage at 3.6x last-twelve-months Adjusted EBITDA of $1.029 billion[77, 103] Operational Metrics - Modular space unit average monthly rental rate increased 5% year-over-year to $1,237 in Q2 2025[58, 94] - Portable storage unit average monthly rental rate increased 7% year-over-year to $282 in Q2 2025[58, 94] - VAPS revenue increased 40 bps year-over-year to 17% of total revenue in Q2 2025[61, 94] - Average modular space units on rent declined 6% year-over-year[48] - Average portable storage units on rent declined 14% year-over-year[51] Future Outlook - The company revised its 2025 financial outlook, expecting revenue between $2.3 billion and $2.35 billion and Adjusted EBITDA between $1 billion and $1.02 billion[84]

Q1 2025 Financial Performance - Total revenues decreased by 5% year-over-year to $559551000[63, 65] - Leasing revenue decreased by 6% year-over-year, driven by volume declines in modular and storage units [65] - Adjusted EBITDA decreased by 8% year-over-year, with an Adjusted EBITDA Margin of 409%, a decrease of approximately 130 bps[65] - Adjusted Free Cash Flow Margin was 26% in Q1 2025 and 23% over the last twelve months[72] Units on Rent and Rental Rates - Average modular units on rent declined by 5% year-over-year[49] - Average portable storage units on rent declined by 16% year-over-year[49] - Modular space unit average monthly rental rate increased 5% year-over-year to $1209[54] - Portable storage unit average monthly rental rate increased 2% year-over-year to $267[55] Growth and Strategy - Value-Added Products and Solutions (VAPS) revenue increased by 80 bps year-over-year, reaching 172% of total revenue in Q1 2025[58] - The company is targeting VAPS to comprise 20%-25% of total revenue in 3-5 years[58] - The company maintains a leverage of 35x last-twelve-months Adjusted EBITDA of $104 billion[77]