Herc Acquires H&E, Ending H&E's Deal With United Rentals; H&E Shareholders To Receive $78.75 Cash Plus 0.1287 Herc Shares, Total Value $104.89 Per Share; H&E Shareholders To Hold 14.1% In Combined Company

Acquisition Scales Herc's Premier Platform and Accelerates Strategy for Industry Leading Growth and Superior Value Creation

Transaction Terms Same as Proposal Previously Announced on February 18, 2025

H&E Terminates Agreement with United Rentals

Herc Holdings Inc. (NYSE:HRI) ("Herc" or "the Company"), one of North America's leading equipment rental suppliers, and H&E Equipment Services, Inc. d/b/a H&E Rentals (NASDAQ:HEES) ("H&E") today announced that H&E has terminated its prior merger agreement with United Rentals, Inc. (NYSE:URI) and that Herc and H&E have entered into a definitive merger agreement under which Herc will acquire H&E.

As previously announced on February 18, 2025, under the terms of the Herc and H&E agreement, H&E shareholders will receive $78.75 in cash and 0.1287 shares of Herc common stock for each share they own, with a total value of $104.89 per share based on Herc's 10-day VWAP as of market close February 14, 2025. Following the close of the transaction, H&E's shareholders will own approximately 14.1% of the combined company.