Ashtead : Audited results for the year and unaudited results for the fourth quarter ended 30 April 2020

LEGAL NOTICE

This presentation has been prepared to inform investors and prospective investors in the secondary markets about the Group and does not constitute an offer of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire securities in Ashtead Group plc or any of its subsidiary companies.

The presentation contains forward looking statements which are necessarily subject to risks and uncertainties because they relate to future events. Our business and operations are subject to a variety of risks and uncertainties, many of which are beyond our control and, consequently, actual results may differ materially from those projected by any forward looking statements.

Some of the factors which may adversely impact some of these forward looking statements are discussed in the Principal Risks and Uncertainties section on pages 32-35 of the Group's Annual Report and Accounts for the year ended 30 April 2019 and in the unaudited results for the year ended 30 April 2020 under "Current trading and outlook" and "Principal risks and uncertainties". Both these reports may be viewed on the Group's website atwww.ashtead-group.com

This presentation contains supplemental non-GAAP financial and operating information which the Group believes provides valuable insight into the performance of the business. Whilst this information is considered as important, it should be viewed as supplemental to the Group's financial results prepared in accordance with International Financial Reporting Standards and not as a substitute for them.

COVID-19 RESPONSE: DELIVERING FOR OUR STAKEHOLDERS

At the outset of COVID-19, we quickly outlined and communicated to our team members that our core focus as a business is to deliver for our stakeholders.

• • Health and safety: record year for safety metrics

• • No redundancies or wage reductions

• • Performance bonuses maintained

• • Recognition bonuses paid for skilled trade work force

• • Pride, fulfilment and goodwill from supporting customers and communities

• • Essential service provider

• • Remained open across our network

• • Partnered to service our communities

• • We were there for them

• • Responsible and swift actions to optimise cash flow

• • Demonstrated diversity and resiliency in unprecedented times

• • Increased credit facility by $500m

• • Balance sheet strength and record cash generation

• • Strengthening our market position

• • Final dividend maintained; full dividend of 40.65p (2019: 40.0p)

We continue to come through for all our stakeholders.

OUR 3-PHASE PANDEMIC RESPONSE STRATEGY

Following our initial, early response, we implemented a clear near-term strategy throughout the business.

March - April

• • Health and safety of our team members and customers

• • Stakeholder focus

• • Serving the needs of our customers and communities

• • Optimising cash flow, reducing operating costs, enhanced liquidity

• • Extremely focused market approach

• • Record safety performance

• • Outperformed market

May - June

• • Operational readiness

• • Amplification of sales and marketing initiatives

• • Progressed strategic deliverables

• • Rigorous prioritisation of efforts

• • 275,000 customers engaged

• • Record level of fleet readiness

• • Order capture technology fully rolled out

HIGHLIGHTS

•  Another strong year capped by the impact of the COVID-19 pandemic

•  Profit before tax of £1.1bn

•  Record free cash flow of £792m

•  Consistent application of our capital allocation priorities:

  • - Invested £1.5bn in capital expenditure and £453m on bolt-ons

  • - 105 locations opened / added as we continued to broaden geographical and product reach

  • - £449m spent on share buybacks

•  Leverage maintained within our 1.5 to 2.0 times net debt to EBITDA range (excluding the impact of IFRS 16)

•  Proposed final dividend of 33.5p making 40.65p for the year (2019: 40.0p)

•  Look to the medium term with confidence and the coming year as one of strong cash generation and strengthening our market position