HERC HOLDINGS Business Summary

Herc Holdings Inc. (HRI) operates as a leading North American equipment rental provider, generating revenue primarily through the short- and long-term rental of a diverse fleet including aerial, earthmoving, material handling, and specialty equipment. The company’s business is segmented into its core Equipment Rental operations and its high-growth ProSolutions® specialty division, which provides technical services and equipment for power generation, climate control, and remediation. Following its landmark 2025 acquisition of H&E Equipment Services, Herc has significantly expanded its footprint to over 600 locations, targeting large-scale infrastructure "mega projects" and local contractor markets. In the competitive landscape, Herc Holdings maintains its position as the third-largest player in North America, trailing industry leaders United Rentals and Sunbelt Rentals (Ashtead Group) while competing with regional firms like H&E Equipment Services and specialized distributors such as Rush Enterprises. Herc is led by Chief Executive Officer Larry Silber, who has headed the company since its 2016 spin-off from Hertz Global Holdings and brings over 30 years of industrial experience from Ingersoll Rand. The leadership team was recently bolstered by the promotion of Aaron Birnbaum to President (effective January 1, 2026), a 35-year company veteran who previously served as COO, and Mark Humphrey, who serves as Senior VP and Chief Financial Officer. The technology strategy is directed by Tamir Peres, Senior VP and Chief Information Officer, focusing on fleet management and digital customer interfaces. The company’s Board of Directors, chaired by Patrick Campbell, recently added strategic depth with the 2026 appointments of John Olin (CFO of Wabtec) and Patrick Shannon (former CFO of Allegion), while major institutional backing is provided by significant shareholders including Invesco Advisers and Vanguard.