Issuer:

United Rentals (North America), Inc. (the “Issuer”)

Title of Securities:

4.875% Senior Notes due 2028 (the “Notes”)

Aggregate Principal Amount:

$925,000,000

Distribution:

SEC Registered

Gross Proceeds:

$925,000,000

Net Proceeds

(after underwriting discounts and commissions):

$913,437,500

Maturity:

January 15, 2028

Issue Price:

100%, plus accrued interest from August 11, 2017

Coupon:

4.875%

Yield to Maturity:

4.875%

Spread to Maturity:

+258 bps

Benchmark:

2.375% due May 15, 2027

Interest Payment Dates:

January 15 and July 15

Record Dates:

January 1 and July 1

First Interest Payment Date:

January 15, 2018

Optional Redemption:

Except as set forth below under “Optional Redemption with Equity Proceeds” and “Make-Whole Redemption”, the Issuer will not be entitled to redeem the Notes at its option prior to January 15, 2023.

The Issuer may, at its option, redeem some or all of the Notes at any time on or after January 15, 2023 at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest, if any, on the Notes redeemed to the applicable redemption date, if redeemed during the 12-month period beginning on January 15 of each of the years indicated below:

Year

Percentage

2023

102.438%

2024

101.625%

2025

100.813%

2026 and thereafter

100.000%

Optional Redemption with Equity Proceeds:

At any time on or prior to January 15, 2021, the Issuer may, at its option, on one or more occasions, redeem up to 40% of the aggregate principal amount of the Notes with the net cash proceeds of certain equity offerings, at a price equal to 104.875% of the aggregate principal amount of the Notes redeemed plus accrued and unpaid interest, if any, to the redemption date.

Make-Whole Redemption:

At any time prior to January 15, 2023, the Issuer may redeem some or all of the Notes at a price equal to 100% of the aggregate principal amount of the Notes to be redeemed, plus a “make-whole” premium and accrued and unpaid interest, if any, to the redemption date.

Change of Control:

Upon certain change of control events, the Issuer must offer to repurchase the notes at 101% of principal amount plus accrued and unpaid interest, if any, to the purchase date.

Trade Date:

July 28, 2017

Settlement Date:

August 11, 2017

Extended Settlement:

Delivery of the Notes will be made against payment therefor on August 11, 2017, which will be the tenth business day following the date of pricing of the Notes, or “T+10.” Under Rule 15c6-1 of the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in three business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade Notes on the date of pricing or the next six succeeding business days will be required, by virtue of the fact that the Notes initially settle in T+10, to specify an alternate settlement arrangement at the time of any such trade to prevent a failed settlement. Purchasers of the Notes who wish to trade the Notes prior to their date of delivery hereunder should consult their advisors.

CUSIP/ISIN

Numbers:

 911365 BG8 / US911365BG81

Bookrunners:

Merrill Lynch, Pierce, Fenner & Smith Incorporated

Barclays Capital Inc.

Citigroup Global Markets Inc.

Deutsche Bank Securities Inc.

J.P. Morgan Securities LLC

MUFG Securities Americas Inc.

Morgan Stanley & Co. LLC

Scotia Capital (USA) Inc.

Wells Fargo Securities, LLC

Co-Managers:

BMO Capital Markets Corp.

PNC Capital Markets LLC

SunTrust Robinson Humphrey, Inc.

TD Securities (USA) LLC