EquipmentShare com : Presentation (ea843e)

Published: 2026-05-13 16:48:14 ET EQPT

Published on 05/13/2026 at 04:48 pm EDT

May 13, 2026

Key Highlights

Market Opportunity

About EquipmentShare

T3 Technology

OWN Program

Financial Review G Outlook

Appendix

EquipmentShare At A Glance

Operating at Scale1

$9.1B

OEC Under Management2

407

Locations3

8,502

Employees

Premium Financial Performance1

$989M

1Q'26 Revenue

Differentiated Technology

100%

Equipment Managed on T35

$4.6B

Trailing Twelve Month Revenue as of March 31, 2026

More Spend from National High Engagement T3 Customers6

>50%

Mature Location Equipment Rental Segment EBITDA Margin Achieved in 2023, 2024, and 20254

>300

Engineer and Product Team Headcount1

As of March 31, 2026

Original equipment cost (OEC), which is defined as Owned OEC, plus Operating Lease OEC, plus OWN Program OEC

Includes 371 full-service rental locations, 27 building materials locations, and 9 dealerships.

Mature locations refer to locations opened greater than 24 months before the start of each measurement period

Rental fleet assets managed in T3 platform as of March 31, 2026

Represents the average revenue per national customer with high T3 engagement compared to the average revenue per national customer with no T3 engagement for the year ended December 31, 2025. See page 31 for definitions of engagement tiers 4

$16.5T addressable construction marfiet impacted by decades of unchanged productivity

37% Rental Segment1 revenue growth with mature locations delivering 55% Rental Segment Adjusted EBITDA margins and a 16.5% mature location ROIC2

Revolutionary T3 technology platform uniquely capable of unlocfiing contractor productivity gains

OWN Program provides capital-light fleet financing accelerating organic growth strategy

Founder operators securing strong financial performance at scale

Sources: Research and Markets and American Rental Association ("ARA") as of December 2025

Refers to the Equipment Rental and Services Operations segment

ROIC is a non-GAAP financial measure, annual metric as of December 31, 2025. Please refer to the appendix of this presentation for reconciliation to the nearest GAAP measure

Fastest growing U.S. equipment rental company1

Opened 200th location

Opened first distribution center

$3.8B

Opened 385th location

$4.4B

$2.6B

Materials business launched

T3 publicly launched Opened first on-site yard

$1.7B

Joined Y Combinator Opened 1st rental

location

$1.5M

First generation tracker available

$21M

Equipment sales business launched

$31M

Opened 20th location

$80M

Patented keypad solution launched

$252M

Opened 100th location Specialty business launched

$498M

$1.1B

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

Rental

Telematics/T3

Sales

Service & Parts

Specialty

Tooling

Tooling Materials

Tooling Materials Distribution

Among U.S. rental equipment peers (i.e., United Rentals, Inc., Sunbelt Rentals Inc. and Herc Holdings Inc.), as of December 31, 2025 based on publicly available annual revenue 2015 - 2025 6

Competitors show strengths in isolated layers; T3 integrates the hardware, data and workflows required to operate the full equipment lifecycle

T3 integrates hardware, data, and workflows into a single operating platform

PLATFORM

Workflow G operating-system depth

Contractor worfiflows

Third-party interoperability

Not equipment operating system

PARTIAL

No contractor operating system

Limited SaaS platform

depth

LIMITED

Internal rental operations only

Limited contractor

workflow

LIMITED

OEMs Rental Companies Construction Tech

EQPT

Maintenance signals

Limited lifecycle intelligence

Limited operator visibility

PARTIAL

Multi-tenant ERP • Contractor worfiflows

SaaS + rental + • Owned + rented fleet

internal operations management

Integrated access control • Third-party interoperability

Commercial SaaS platform

Equipment lifecycle • Engine + operator context visibility • Closed-loop insights

Operator identity-linfied • Third party ownership machine intelligence (OWN) real-time tracfiing

Maintenance optimization

Self-developed and manufactured devices

OEM-agnostic fleet

Full CAN enablement

100% fleet connected

AI dashcams

Factory-integrated installs

100% CAN connected

Patented T3 access control

Equipment data remains siloed

Limited lifecycle intelligence

No operator-level visibility

LIMITED

Project-level data

Limited machine intelligence

Limited operator +

engine context

LIMITED

DATA

Equipment intelligence G lifestyle visibility

Factory Installs

Limited fleet-agnostic tracking

Limited access

control

PARTIAL

OEM-agnostic integrations

Limited device ownership/control

Limited CAN/access

control

PARTIAL

No proprietary device layer

Limited CAN/access control

Disconnected fleet

LIMITED

HARDWARE

Connected equipment G device control

FULL

1) Information is based on management's analysis and estimates

T3 Technology Generates Customer Demand G Powers ES Operations

Increased productivity, transparency, and control drive customer demand and enhance our operational efficiency, logistics, and fleet management

Organic Site Expansion Enabled by Capital-Light Fleet Growth

OWN Program enables EquipmentShare to scale fleet with capital efficiency, introducing more T3-enabled equipment into the market

Customer Demand Seeds Organic Site Expansion

Existing customers pull EquipmentShare to new markets, which are developed organically to capture that demand

Attractive Marfiet Opportunity

Customer Focused Solutions and Scaled Delivery Platform

$86B U.S. construction equipment rental market size

Top 4 rental companies have 36% market share

$7T+ of capital projects active or expected to break ground in the next 5 years in the U.S.

Proprietary T3 technology drives contractor productivity by creating a connected jobsite

Fully integrated jobsite solutions spanning equipment rental, tooling, materials, fuel, etc.

Nationwide scale with over 371 rental sites and

$9.1B of OEC to fully fleet the largest jobsites

Technology Driven Growth Model

Capital-Light Financing Advantage

T3 technology generates customer demand fueling organic growth strategy

75% of first year revenue at newly opened rental sites from existing customers

Asset visibility from T3 enables capital-light fleet financing through the OWN Program

OWN Program provides capital-light fleet financing accelerating EQPT's organic growth

Mature rental site ROIC1 over 16% with a long term target ROIC1 of +20%

Deep pools of capital across high-net worth, family offices, and institutional investors

Sources: Deloitte, Dodge Data G Analytics, and ARA

1) ROIC is a non-GAAP financial measure, annual metric as of December 31, 2025. Please refer to the appendix of this presentation for reconciliation to the nearest GAAP measure

Key Highlights

Marfiet Opportunity

About EquipmentShare

T3 Technology

OWN Program

Financial Review G Outlook

Appendix

Multi-trillion-dollar market opportunity with strong secular tailwinds Scale increasingly a differentiator

Expansive construction market underpinned by >$7T of public and private capital projects active or expected to break ground in the next five years in the U.S. Significant equipment demands and multi-horizons of mega projects1 drive overall growth and shift to equipment rental

$16.5T Global Jobsite Total Addressable Market

~$16,450B

Global Jobsite

~$1,244B

U.S. Construction

~$86B

U.S. Rental

~$4.4B

EquipmentShare2

Sources: ARA, Research and Markets, Dodge Data G Analytics, Company reports

Defined as projects with over $300 million in projected spend

Scaled rental companies have outpaced market growth due to the large equipment volume demands of mega projects and industry consolidation

Percentage Share of US Equipment Rental Market Revenue

83%

82%

80%

78%

76%

75%

72%

71%

70%

67%

66%

64%

36%

33%

34%

28%

29%

30%

24%

25%

22%

20%

17%

18%

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

2025 Annual Revenue 11

Productivity growth in the U.S. construction industry continues to lag those of major sectors

Construction productivity increased at an average annual rate of just 0.6% from 1947 to 20231

Labor scarcity

Value added per labor unit, constant prices

Analog systems

Lacfi of standardization

Reactive equipment maintenance

Productivity Compound Annual Growth Rate

Total Improvement

Agriculture

10.2x

Agriculture: 3%

Retail: 2%

Manufacturing: 1.7%

U.S. Economy: 1.5%

Construction: 0.6%

Retail Trade

4.8x

Manufacturing 3.5x

U.S. Economy 3.2x

Construction 1.6x

Construction 1.35x less productive since 1973

1947

1960

1970

1980

1990

2000

2010

2020

Index: 100 = 1947

Underutilized equipment

Increased project complexity

Source: BEA-BLS Integrated Industry-level Production Accounts (KLEMS), BLS Annual Total Factor Productivity 12

Since 2015, success in rental and physical distribution has fueled expansion into nine adjacent sectors, proving our right to scale and build a single system to run construction.

U.S. TAM

Launched (as applicable)

CONSTRUCTION MANAGEMENT SOFTWARE G

SERVICES

$296B TAM18

LOGISTICS G TRANSPORTATION

$1.2T TAM17

ROBOTICS G AUTOMATION

SOFTWARE

$17B TAM16

DEMOLITION, WASTE REMOVAL, G

TREATMENT

$37B TAM15

STORAGE G WAREHOUSING

$43B TAM14

SAFETY G COMPLIANCE

$5B TAM13

FINANCING G LENDING

$1.3T TAM12

EQUIPMENT RENTAL

$86B TAM1

LAUNCHED 2015

TELEMATICS G CONSTRUCTION IoT

$9B TAM2 LAUNCHED 2016

EQUIPMENT SALES

$332B TAM3 LAUNCHED 2017

EQUIPMENT PARTS G SERVICE

$60B TAM4 LAUNCHED 2018

TOOLING G CONSUMABLES

$5B TAM5 LAUNCHED 2020

SPECIALTY RENTAL EQUIPMENT

$31B TAM6 LAUNCHED 2020

MATERIALS

$293B TAM7 LAUNCHED 2022

SUPPLY CHAIN MANAGEMENT SOFTWARE

$23B TAM11

POWER SERVICES

$212B TAM10 LAUNCHED 2025

FUEL

$49B TAM9 LAUNCHED 2025

CONSTRUCTION INSURANCE

$50B TAM8 LAUNCHED 2022

All footnote references (1-18) correspond to details in the appendix. Equipment Rental TAM includes Specialty Rental Equipment 13

Key Highlights Market Opportunity

About EquipmentShare

T3 Technology

OWN Program

Financial Review G Outlook

Appendix

EquipmentShare is Building the Future of Construction Driving Contractor Productivity

From Inefficient Jobsites…

Minimal Visibility

Equipment, people, and materials organized on paper. Little to no live data on location, fluid levels, utilization, or maintenance history

Analog Safety Measures

Widely-available universal keys for machines, no control over operator behavior, reliance on labor for jobsite security

Unplanned Downtime

Break-fix approach from lack of real-time equipment data leading to downed equipment, reactive service, and labor inefficiency

Increasing Complexity

Growing jobsite size and scope challenging already failing models for managing across project phases, equipment fleets, and subcontractors

…To A Smarter Way to Build

Productive, Connected Jobsite

Equipment, crew, tools, and materials connected in T3 with billions of dynamic data points and insights to drive productivity

Embedded Safety Tech

Cloud-connected keypads to ensure authorized access, in-cab visual and audio alerts for unsafe driving, smart cameras for proactive monitoring

Predictive Uptime

Predictive service, maintenance, and parts ordering, active monitoring, and full digital twin of equipment for next generation, remote support

Single, Simplifying Partner

Nationwide scale to fully fleet the largest jobsites, paired with site solutions (tooling, fuel, consumables, materials), all managed through a single, vertically-integrated, T3 technology platform

Industry disruptor with a differentiated, flywheel approach to solving construction's most persistent problems

Equipment Rental Services

Disruptive Tech-Enabled Platforms

Best of Breed Industrial Growth

Our Competitive Edge

Purpose-built T3 platform, combined with the infrastructure of an equipment rental incumbent and the innovation of a technology leader

Repeatable organic expansion playboofi

Technology-enabled fleet

Digitally-native, fully-integrated platform

Full ownership over customer relationship

Led by founders with deep industry experience

407 operational locations1, strategically located in high-growth markets

97% 45

Rental Revenue Driven by Organic Site Growth2

New Sites Added in Q1 2026

States with Operational Locations3

296

New Employees Added in Q1 2026

Houston MSA Spotlight

Expansion opportunities, as well as large, infill opportunities within existing markets

10 EquipmentShare sites in Houston MSA (~7.8M people)3

40 sites located in MSA for largest incumbent rental company4

Includes 371 full-service rental locations, 27 building materials locations, and 9 dealerships.

Defined as percent of 2024 revenue from rental locations developed organically (i.e., sites not acquired via MGA activity)

MSA detail provided by Greater Houston Partnership

Based on publicly available 10-K information for United Rentals 17

Key features of an illustrative mature rental site

IOS Property Optimized site selection eliminates coverage redundancy

5-acre, industrial outdoor storage yard, 2,500 sqft office, and 10,000 sqft shop

Triple net lease on in-demand IOS site (extremely low vacancy rate)

Rental Coordinators

General Manager

Service Manager

Drivers

Headcount

Sales Reps

Mechanics

Yard Coordinator

20-person site staff at maturity

Fleet Mix

$40M rental fleet plus $4M support fleet

~50% OWN

Program Fleet

~50% On Balance Sheet Fleet

Service Trucks

Haul Trucks G Trailers Standard Pickup

60% non-residential / infrastructure customers

40% industrial customers

55% national customers1

35% regional customers

Customer Base

300 active, diversified customers

Data G Technology

Rich, proprietary data collected in T3

20 million data points collected per day

Model site data is meant as illustrative only, based on management targets and approximate site averages based on OEC for mature rental sites. All data based on trailing twelve months as of December 31, 2024.

1) Local is defined as a customer who has rented from one market. Regional is defined as a customer who has rented from 2 or more markets. National is defined as a customer who has rented from 2 or more regions 18

Targeting meaningful EBITDA expansion as adjacencies mature

Highly Attractive Site economics

Adjacency Opportunities

Long-Term Targets

Per rental site average unit economics of ES rental sites over 4-years in operation in 20241

Long-term target unit economics of SGGA efficiencies and service, parts, materials, T3 SaaS, insurance, and fuel sales2

Total target unit economics

Rental Fleet OEC

$40M

Rental Segment Revenue

$16M

$4M

$21M

Core EBITDA3

$10M

$2M

$12M

NOPAT4

$4M

$2M

$6M

Mature Site ROIC5

>16%

>20%

1) Site level economics reflect average FY2024 per site data from our 59 locations with 4+ years of operating history in FY 2024. 342 rental sites total as of Q3 2025. Includes allocated corporate costs. 2) Target site economics include allocated corporate costs. 3) Core EBITDA is a non-GAAP financial measure. Please refer to the appendix of this presentation for reconciliation to the nearest GAAP measure. 4) NOPAT is a non-GAAP financial measure. Please refer to the appendix of this presentation for reconciliation to the nearest GAAP measure. Calculated using federal statutory income tax rate of 21% Note: Numbers may not add due to rounding. Targets are not projections or predictions, but represent goals that are forward-looking and subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of the Company and management, and are based on assumptions that are subject to change, including, but not limited to, continued customer rental demand, our ability to increase customer demand for adjacencies and our ability to achieve additional efficiencies in corporate SGGA. Actual results may vary, and these variations may be material.

Nothing in this presentation should be regarded as a representation that these targets will be achieved, and the Company undertakes no obligation to update its targets. 5) Mature Site ROIC is a non-GAAP financial measure. Please refer to the appendix of this presentation for reconciliation to the nearest 19

GAAP measure.

Equipment Rental and Services Segment EBITDA Margin by Maturity Cohort

Equipment Rental and Services Segment EBITDA Margin for Q1 2026 TTM

Equipment Rental and Services Segment EBITDA for Q1 2026 TTM

$2.5M avg. new market start-up costs per new organic site1 incurred over the first 12 months

1-year payback period on new market startup costs

As sites mature they achieve >50% EBITDA

margins and >16% ROIC3

Site Maturity

$(13)M

$241M

$1,025M

$1,253M

(2)%

43%

48%

55%

< 12 months 1 - 2 years > 2 years Total2

210

371

Average new market start-up costs attributable to Equipment Rental and Services Operations segment

Represents total average equipment rental segment adjusted EBITDA margin for all sites

ROIC is a non-gaap financial measure. Please refer to the appendix of this presenrtation for reconciliation to the nearest GAAP measure

Target of 700 rental branches by 2030

Over 75% of New Sites' Year 1 Revenues ($MM) from Existing Customers

Existing customer demand underpins growing market share at new sites1

$75.0

Existing Customer Revenue

New Customer Revenue

$50.0

$25.0

% Existing Customer

89%

87%

85%

84%

82%

81%

79%

1 2 3 4 5 6 7 8 9 10 11 12

Proven Organic Growth Playboofi

1.0 Strategic Site Selection

Full control over site locations optimizes network efficiency

Proprietary forecasting model fed by T3 signals, customer demand, and construction activity

2.0 Construction Experts

Consistent quality, with control over construction spend and schedule

Value-engineered with centralized procurement and kitting

3.0 T3-Driven Steep Revenue Ramp

Built for national customers, T3 powers +75% pull-through demand at new sites

Operational excellence from T3 connectivity, visibility, and analytics

Note: X-axis shows age of sites in months since opening and does not correspond to calendar months. Total revenue between 2022-2025 by customer type by month for 132 sites that opened between 2022 and 2024 and have at least 12 months of revenue history within the reported period.

7% 5%

26% Industry Segment1

61%

Diversified,resilient customers...

Intentionally serving customers supporting large industrial, infrastructure, and non-residential construction projects

10%

Geographic

32% Segment1 58%

... with 95% retention among national and regional accounts

That retention is responsible for 75% of national account revenue growth, as existing customers pull us to new markets and expand our presence in existing markets

All data based on revenue trailing twelve months as of March 31, 2026

1) See appendix for applicable definitions

>$5T opportunity in EquipmentShare regions

With >80% of active and planned mega projects already in serviceable range of our existing markets, our continued expansion is expected to unlock even greater coverage and accelerate market penetration.

Value of Active and Planned Mega Projects in EquipmentShare Regions

Pacific

$662B

13% ES Branches

Mountain West

$679B

12% ES Branches

Midwest

$1,038B

24% ES Branches

Southwest

$1,632B

26% ES Branches

Northeast

$840B

10% ES Branches

Southeast

$712B

16% ES Branches

Source: Dodge Data G Analytics

Mega project defined as projects with total value over $300M

1) Estimated based on an industry report from Dodge Data G Analytics 23

Fit-for-purpose in high-growth industries

Scalable Equipment

On-demand fleet fulfillment for thousands of assets

Data-Driven Insights

Real-time data from T3 to optimize jobsite performance

Service and Logistics

Rapid maintenance fleet management to prevent delays

Customizable Solutions

>15 offerings, including fueling, security, and tooling to design a site optimal for the work, weather, and schedule

We believe EquipmentShare is

1 of 4

Equipment rental companies able to fully fleet mega projects1

1 of 1

With an all-in-one solution to manage assets, people, materials on-site

1) Management estimate based on OEC and Outlets per equipment rental company reported in Rental Equipment Register 2024. Mega project defined as projects with total value over $300M

In use on data centers, industrial manufacturing, battery plants, solar farms, and infrastructure projects in the U.S.

Source: ENR top 50 general contractors from 2025 Top 400 Contractors list, 2024 EquipmentShare annual revenue 25

Top 30 ENR General Contractor1

+$5B revenue

High engagement

"Their onsite availability and readiness have allowed us

to eliminate 100% of time-consuming deliveries and errands. Through the T3 platform, we've gained realtime insights into asset location, maintenance, usage, and trade partner management, leading to an estimated 20% improvement in overall jobsite efficiency.

EquipmentShare also manages all refueling, which has

saved us approximately 30% in labor time by removing the burden from our crews."

Top 10 ENR General Contractor1

+$10B revenue

High engagement

"We chose to replace another one of the industry's

largest rental partners on one of our remote, hyperscale data centers with EquipmentShare who scaled from less than 20 pieces of equipment to several thousand and mobilizing a full onsite presence in a couple of months.

T3 has been incredibly versatile and scalable. It has

helped us solve a lot of challenges as the job has grown, especially when it comes to managing subcontractors and keeping track of equipment. The real-time visibility into machine location and usage has completely changed how we run the site. Nothing compares to the level of detail and amount of information T3 captures."

Top Global Automotive Manufacturer

+$90B revenue2

High engagement

"Through our collaboration with EquipmentShare over the

past few years, they've become our preferred rental partner. They're not just a vendor; they've become a true extension of our team. Their T3 technology brings real value to the jobsite. With trackers, keypads, and live data, we have complete visibility into where our equipment is, who's using it, and how it's performing. That level of insight makes managing the site easier and far more efficient.

Our operation runs 24/7, and EquipmentShare is always

there when we need them. Whether it's an after-hours delivery or quick support to keep things moving, their team is responsive and dependable. At this scale and pace, you need partners who can keep up and deliver without hesitation. EquipmentShare does exactly that."

Engineering News Record 2025, revenue based on publicly available data, high engagement defined as customers who utilize T3 for holistic fleet management

Revenue based on publicly available data, high engagement defined as customers who utilize T3 for holistic fleet management 26

Key Highlights Market Opportunity

About EquipmentShare

T3 Technology

OWN Program

Financial Review G Outlook

Appendix

Complete sensor-to-server platform of web applications and connected hardware

Two-Way Dashcams

Bluetooth Tags

T3 hardware embedded into equipment by many manufacturers at the factory

21 issues U.S. patents

18 pending U.S. patents

Software developed in-house by over 300 engineers and product team members1

Fleet: Advanced telematics for live fleet management

Work Orders: Centralized and streamlined service hub

Time Tracking: Labor and overtime management

PIM: Centralized and standardized product data

E-Logs: Driver monitoring, reporting, and compliance

Cost Capture: Expense tracking and recording

Analytics: Customized reporting and insights

Inventory: Streamlined intake and order workflows

Cloud-Connected Keypads

Asset Trackers

Engineers and product team employees as of December 31, 2025 equaled 303

EquipmentShare managed service team proactively monitors preventative maintenance, swapping inventory when needed to reduce project down time

Telemetry data is consumed from several sensors on every machine, working together to deliver real time status, diagnostics, and insight

Rental business, customers, and OEMs benefit from data, benchmarks, and insights derived from seeing how a machine performs in the field, creating shared incentives to drive better productivity

Customers track machine usage to determine what to on/off-rent

View live critical performance metrics and location to ensure productivity and reduce theft

Efficient Fleet G Logistics

Real-time visibility customer demand and uptime to load balance across rental sites

Lower Maintenance Spend

Performance data paired with real-time monitoring optimizes predictive maintenance

Lower Insurance Costs

T3 hardware reduces theft and improves operator accountability through driver alerts

Capital-Light Fleet Growth

T3 enables the OWN Program and provides participants with full asset visibility

Rental Customers

Reduced Downtime

Equipment "just works" because real-time monitoring rapidly deploys predictive service

Safer Operations

Keypads restrict equipment use to trained and licensed operators

Reduced Theft

Keypads prevent illegitimate use and location tracking enhances recoverability

Better Customer Support

Live monitoring empowers ES branches to be on site, even when remote

Average Rental Spend per Customer Type (2025)1

600K

500K

Medium Engagement

6x higher rental spend

from high T3 engagement 2

High + Medium Engagement

47% of rental revenues come from customers who engage with the T3 platform at a medium- and high-level3

400K

300K

200K

High Retention

Over 95% retention among national and regional rental customers4

100K

Regional National

1) National defined as a customer who has rented from 2+ regions, regional 2+ markets, and local 1 market. To be eligible for tier classification in this T3 engagement analysis, a company must have at least two rentals within the designated period. This threshold ensures that only customers with a minimum level of transactional activity are evaluated for T3 engagement insights. High Engagement is defined as companies that exhibit strong digital engagement and demonstrate operational intent through active subscription or device usage. Medium Engagement is defined as companies with measurable, but moderate, digital activity, not reaching High Engagement threshold. Low Engagement is defined as companies with minimal, but non-zero, digital activity. No Engagement is defined as companies with rental history, but no detectable digital engagement. The T3 Engagement Score is calculated using a weighted formula that blends three key metrics: how often users take meaningful actions on the platform, how many users at the company are actively engaging during the period, and how much time users spend in active use (versus idle or passive time) during their sessions 2) On a national per customer basis 3) Twelve months ended December 31, 2025 4) Calculated as the percentage of rental revenue retained in 2025 from the cohort of national and regional customers as of December 31, 2024, based on the same customers' rental spend during the trailing twelve months

ended December 31, 2025. 31

From analog, unsafe, and reactive… … to connected, secure, and predictive

Equipment Access

Physical fieys that start any machine readily available for under $20

Before EquipmentShare:

Equipment on site overnight used to steal expensive, critical copper piping from roof storage

Cloud-connected fieypads that protect the equipment from only being started by operators with authorized access

After EquipmentShare:

Equipment inaccessible to thieves and remains off even when keypad damaged or removed

Fueling

Offline fueling necessitating rocks as markers for technicians refueling equipment

Before EquipmentShare:

Fueled equipment marked by a rock on the track. Servicer checks for missing rocks when refueling

Live fuel monitoring accessible remotely in app or on desktop 24 hours a day

After EquipmentShare:

Servicer checks equipment fuel levels remotely and route plans around consumption and utilization

Maintenance

Reactive maintenance triggered by a downed machine and a customer phone call

Before EquipmentShare:

$13 part shuts down a jobsite even though its replacement is a technician-known issue

Predictive maintenance triggered by proprietary data models and implemented by a nation-wide service team

After EquipmentShare:

Service technician dispatched to every customer rental with the impacted part for proactive replacement. Equipment stays up; jobsite stays up

From cheap, universal keys to cloud-connected keypads managed on T3 Fleet software

Increased Safety

Customer-created, operator-specific key codes ensures only qualified personnel use equipment

Reduced Costs

Secured from universal keys, reducing theft-related replacement, repair, and delay costs

Increased Productivity

Software pushes codes to the keypad in real time preventing schedule delays from lost keys

Modernized Reporting

Operator performance visibility optimizes future staffing and streamlines subcontractor billing

"I'd bet microtheft happens 1,000 times more often than total theft of a machine, and it's why 100% of my company's fleet is now connected to EquipmentShare's ecosystem."2

An internal EquipmentShare study of company-owned, keypad-equipped 10K telehandlers. Compared the average number of hours accrued by each asset per rental day before and after keypad installation. Estimates extrapolated based on case study, 2024

Quote from owner of a regional excavating company

20%

Estimated reduced annual maintenance costs1

Connecting an estimated 6.4 billion daily data points1 directly to field operations

Rich, proprietary data

Estimated 6.4 billion proprietary, daily data points collected in T31. Data is high-quality and multi-modal collected across equipment and customer lifecycle

AI-powered insights

Performance G uptime

Engine health G diagnostics

Safety G security

Cost management

Data is unified into insights by an in-house team of over 300 engineers2 leveraging AI infrastructure, algorithms, and data models

Immediate field action G feedbacfi loop

Predictive failure models

Chatbot service discovery

LLM repair workflow

Fleet optimization

Actionable, AI-generated insights integrated directly into operations via physical distribution network of 407 operational locations and 252,000 machines2

Estimated total daily data points collected based on average daily data points collected per asset and total assets managed by T3 as of December 31, 2024

As of December 31, 2025

AI Service AssistantTM reads error codes to surface fix steps, predict parts, and guide techs

Predictive intervention on critical jobsite equipment to prevent downtime

Key Highlights Market Opportunity

About EquipmentShare

T3 Technology

OWN Program

Financial Review G Outlook

Appendix

T3 Technology Generates Customer Demand G Powers ES Operations

Increased productivity, transparency, and control drive customer demand and enhance our operational efficiency, logistics, and fleet management

Organic Site Expansion Enabled by Capital-Light Fleet Growth

OWN Program enables EquipmentShare to scale fleet with capital efficiency, introducing more T3-enabled equipment into the market

Customer Demand Seeds Organic Site Expansion

Existing customers pull EquipmentShare to new markets, which are developed organically to capture that demand

Equipment costs off balance sheet, while maintaining operational control

Buy new equipment from OEMs

Leverage buying power to purchase new equipment at industry-leading prices

Place new equipment into rental fleet

Absorb new equipment into rental fleet and start renting to customers / generating revenue

Sell equipment to OWN participants

Rent OWN equipment in normal operations

Share portion of rental revenues

Buy or remarfiet equipment at end of term

Sell packages of equipment to third-parties and enter into asset management and revenue sharing agreements for defined term

Manage, rent, and maintain fleet identically to balance-sheet equipment

Pays third-parties a portion of rental revenues generated by their OWN Program equipment

Retain options at end of term to purchase equipment for the appraised value or help third-party remarket the equipment for sale

OWN Program Participants

Third-Party Participants Capital Sources Program Benefits

High-net-worth individuals Family offices

Levered equity returns

Tax benefits, such as accelerated depreciation

>45 Prominent asset managers G institutions

>$14.6T Total AUM

>$2.1B

3.2x

>$25M

In ABS transactions

Average debt oversubscription Average allocation

OWN Program Terms

True Sales

Equipment not on EquipmentShare balance sheet

Full Control

EquipmentShare has full operational control of the equipment during term

No Guarantees

No utilization guarantees No minimum payments No fixed lease payments

No Discrimination

Equipment status in OWN Program not disclosed to rental customers, salespeople, or operators

Purchase Option

EquipmentShare retains option to purchase equipment at appraised value at term end

Real-Time Visibility

OWN Program participants can use T3 to track location, utilization, and service history of their equipment, securing collateral in real-time

Multi-Tenancy

T3 seamlessly supports multiple tenants, allowing equipment ownership to change easily, without disrupting operations. Status in the OWN Program is not disclosed and equipment is managed identically to on-balance-sheet equipment

Next Gen Procurement

T3 data feeds proprietary total cost of ownership model

and intelligent fleet purchasing for industry-leading prices

Theft Resistance

Cloud-connected access control tracks location, ensures event-based access, and reduces theft risk

Residual Value

T3 preventative and predictive maintenance is designed to help protect residual equipment values over defined OWN Program term

Accurate Billing

T3 ties rental revenue to the item of equipment that generated the revenue and gives the owner visibility into revenue generation by asset

ES On Balance Sheet

OWN

Program1

Illustrative OEC

$100

Rental Revenue (Over 7 Years)

$294

(-) Cost of Rental Operations

($142)

(-) Revenue Share with OWN Participants

($88)

Net Rental Operations Cash Flows

$152

$64

(+) Margin on Initial Sale to OWN

$10

(-) Interest Expense

($33)

(-) Financing Repayment

($100)

(+) Asset Sale

$54

Illustrative Net Cash Flows

$73

$74

Cumulative over 7-years

ES On-Balance Sheet

Illustrative $100 OEC purchase funded with 75% ABL debt and 25% bond debt2

Asset sale value equal to approximately 54% of OEC at end of 7 years (based on depreciation schedule and Rouse industry valuations)

Assumes equipment usage and rental rates in line with historical performance over the past 4 years

OWN Program

7-year sharing period enrollment period

Illustrative $100 OEC is sold into OWN Program with margin

End of term residual values in line with historical precedent

Assumes equipment usage and rental rates in line with historical performance over the past 4 years

Note: All values are approximate. Rental revenue (over 7 years) and other metrics presented herein are not projections or forecasts, but instead reflect illustrative examples to demonstrate similarities in hypothetical cash flows for our on-balance sheet equipment and equipment rolled in the OWN Program. This illustrative example is based on management's estimate of potential future OWN Program net cash flows based on recent OWN Program terms and assumes that future terms and conditions will be similar to such terms.This is not indicative of all of the Company's OEC Under Management that is enrolled in the OWN Program and does not represent a forecast of total OWN Program net cash flows. No assurances can be given that future results will be achieved as indicated

Indicative of approximately 24% of total OWN Program as of December 31, 2024

Assumes a 6.67% blended cost of debt 40

Disclaimer

EquipmentShare.com Inc. published this content on May 13, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 13, 2026 at 20:44 UTC.