CEO OVERVIEW Customer Sentiment is Strong across all our end-user markets and regions End User Demand for Parts and Service continues to be very high amidst supply chain issues related to new equipment Market deliveries Conditions: Favorable Industry Indicators signal solid construction activity Business conditions and Material Handling Segment Poised for Further Growth industry indicators remain as the predicted need for additional warehouse space is another 1 billion square favorable. feet by 2025 and vacancy rates are at record lows (source: JLL) Physical Utilization and Rates on Rental Equipment Continues to Increase with utilization growth of 3.2%, up to 72.4%, and rates up 9.2% from a year ago Governmental Initiatives (IIJA, Chips Act and IRA) will be an Incremental Benefit and Should Extend the cycle