To Our Customers, Investors and Friends,

This is the time of year when many of us observe holiday traditions and celebrate with those we hold dear. In this season of fellowship and good cheer, I hope that you are able to safely spend quality time with family and friends. Even if restrictions may limit our ability to gather, it’s important to connect with those who support and encourage us throughout the year.

With the last weeks of 2020 upon us, I wanted to express my appreciation and gratitude to our customers for their business and our investors for their interest in our company. We responded to the year’s extraordinarily challenging circumstances to make sure that we provided solutions for our customers’ needs while ensuring that our interactions focused on safety and efficiency.

We began 2020 with great optimism. Less than three months into the year our business experienced a severe decline due to pandemic-related lockdowns. By mid-year, we began a gradual recovery and affirmed our role as an essential business supporting customers across a number of critical industries. Since then, we have continued to make progress in returning to business levels that meaningfully advance our long-term strategy and our vision to be the equipment rental industry’s supplier, employer and investment of choice.

Our 2020 performance once again demonstrated Team Herc’s resolve with the rapid integrated enhanced pandemic safety protocols to protect ourselves and our customers. Every team member adapted to new ways of working together when physical distancing prevented in-person interaction. We supported fellow team members and communities in response to numerous natural disasters. And Team Herc collectively maintained focus despite the year’s economic uncertainty, social unrest, political distractions and the many disruptions affecting our daily lives, including arrangements for daycare, schooling and other personal and family matters.

I am proud to be part of Team Herc and appreciate everyone’s perseverance throughout the year’s difficulties. I am confident that better days are ahead and that we eventually will return to a time when we can gather together without worry; conduct our work in the company of each other; and celebrate our successes with handshakes, high-fives and hugs. In the meantime, may you find time to relax during the holiday season as you prepare for what I hope will be a happy beginning to 2021.

Happy holidays and, again, thank you.

Larry Silber
President and CEO