ࡱ> opqr l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1 Courier New1 Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)-**_($* #,##0_);_($* (#,##0);_($* "-"_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* "-"_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* "-"??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* "-"??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)6 0%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0)                + ) , *   Ј ~~ ؈ ~~#؈ ~~ ؈ ~~<#܈ ~~4#܈ ~~8#܈ ~~3#܈ ~~7#܈ ~~83ffff̙̙3f3fff3f3f33333f33& SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231##Quarterly Report on Form 10Q }7PART I&XSee the accompanying notes whic&wSee the accompanying notes (1)&8See the accompanying notes (2)Acton Acquisition&sResults from Discontinued Opera&#Results from Discontinued O (1)&qResults from Discontinued O (2)&Results from Discontinued O (3)&Results from Discontinued O (4)&#Results from Discontinued O (5)&Results from Discontinued O (6)Senior Secured Notes&!Accumulated Other Comprehensivec.NonControlling Interest"9NonControlling Interest (1)"ENonControlling Interest (2)"VNonControlling Interest (3)xcRestricted Stock AwardsDoRestricted Stock Units{Stock Option Awards`Stock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)2Reportable Segments (3)~Reportable Segments (4)Reportable Segments (5)&Reportable Segments (6)&Income Tax Benefit:Income Tax Benefit (1)OAdjusted EBITDA`Adjusted Gross Profit%wlNet Capex for Rental Equipment%yAdjusted EBITDA less Net CAPEX%Adjusted EBITDA less Net C (1)&kCash Flow Comparison of the ThrEXHIBIT l     dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } } 2       WillScot Corp 10-Q 05/04/2018'SECURITIES EXCHANGE ACT OF 1934    (Mark One)  ?/ 'QUARTERLY REPORT PURSUANT TO SECTION 13 / 'OR 15(d) OF THE SECURITIES EXCHANGE ACT  OF 19340(For the quarterly period ended March 31,~  OR ?-%TRANSITION REPORT PURSUANT TO SECTION2*13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934/'For the transition period from ________ to ________$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:|~rfZB N@2`I=1 =PF0*8X> @B l  "  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } 6} !       WillScot Corp 10-Q 05/04/2018!Baltimore, Maryland 21231  ! Large accelerated filer ? Accelerated filer ?$ Non ? accelerated filer ?# Smaller reporting company ?5 -(Do not check if a smaller reporting company)! Emerging growth company ? $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(Txl`HWK?=PF0*8X> @ l  -2z6  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231PART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } $ } I } $ } 6 -      WillScot Corp 10-Q 05/04/2018%Quarterly Report on Form 10-Q     PART I  Item 1(  Financial Statements (unaudited)   - %Condensed Consolidated Balance Sheets   2 *as of March 31, 2018 and December 31, 2017,$Condensed Consolidated Statements of3+Operations for the Three Months Ended March31, 2018 and 2017,$Condensed Consolidated Statements of/'Comprehensive Loss for the Three Months%Ended March 31, 2018 and 2017,$Condensed Consolidated Statements of3+Cash Flows for the Three Months Ended March31, 2018 and 20175-Notes to the Condensed Consolidated Financial StatementsItem 2,$Management?s Discussion and Analysis80of Financial Condition and Results of OperationsItem 30(Quantitative and Qualitative DisclosuresAbout Market RiskItem 4Controls and ProceduresPART IIItem 1Legal ProceedingsD lth\,{!r19IdH !"#$%&'()*+,  Item 1A  Risk Factors!!Item 2/!'Unregistered Sales of Equity Securities"""and Use of Proceeds##Item 3'#Defaults Upon Senior Securities$$Item 4$Mine Safety Disclosures%%Item 5%Other Information&&Item 6&Exhibits' SIGNATURE()$*____________________________1+)Created by Morningstar Document Research.0,(http://documentresearch.morningstar.com/xxA|J5)=PF0*8X> @,,++**''&&%%$$##""!!    l  A}HTU  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10Q!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } 7} $ A      WillScot Corp 10-Q 05/04/2018PART I        ) !(in thousands, except share data)" March 31, 2018 (unaudited)  December 31, 2017      Assets     ! Cash and cash equivalents~ ,  ~  0(Trade receivables, net of allowances for~ ~ /'doubtful accounts at March 31, 2018 and/'December 31, 2017 of $5,659 and $4,845, respectively Inventories~ ~ 1)Prepaid expenses and other current assets~ :~ Total current assets~ d~ Rental equipment, net~ A~ J|?*"Property, plant and equipment, net~ ~ JGoodwill~ 2~ Intangible assets, net~ ~ δ Other non-current assets~ j5~ BTotal long-term assets~ V P~ >NN Total assets~ fnW~ V LiabilitiesAccounts payable~ ~ n{Accrued liabilities~ ~ BAccrued interest~ N~ B*D ls[ 4_)g?P !"#$%&'()*+,-./0123456789:;<=>?. &Deferred revenue and customer deposits~   ~  )!!Current portion of long-term debt~ !r!!~ !f!!"Total current liabilities~ "z ""~ "J "#Long-term debt~ #j(##~ ##&# $Deferred tax liabilities~ $F$$~ $`$.%&Deferred revenue and customer deposits~ %Z^%%~ %T%%&Other non-current liabilities~ &,&&~ &n.&'Long-term liabilities~ '<1''~ 'z/'(Total liabilities~ (@:((~ (‡8(/)'Commitments and contingencies (see Note)))))~ *66+.Class A common stock: $0.0001 par, 400,000,000~ +"++~ +"+/,'shares authorized at March 31, 2018 and3-+December 31, 2017; 84,644,774 shares issued2.*and outstanding at both March 31, 2018 and/December 31, 201760.Class B common stock: $0.0001 par, 100,000,000~ 000~ 00/1'shares authorized at March 31, 2018 and22*December 31, 2017; 8,024,419 shares issued23*and outstanding at both March 31, 2018 and4December 31, 2017"5Additional paid-in-capital~ 555~ 55,6$Accumulated other comprehensive loss~ 666~ 667Accumulated deficit~ 7ߛ77~ 77"8Total shareholders' equity~ 8;88~ 88 9Non-controlling interest~ 999~ 99: Total equity~ :N.::~ ::$;Total liabilities and equity~ ;fnW;;~ ;V;<=$>____________________________1?)Created by Morningstar Document Research.D9 l!b#en;7{F|$@0@(http://documentresearch.morningstar.com/H=PF0*8X> @:G@@??>>;;;;::::999988887777666655550000++++((((''''&&&&%%%%$$$$####""""!!!!       l  >it  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } 0} $ >      WillScot Corp 10-Q 05/04/2018kcSee the accompanying notes which are an integral part of these condensed consolidated financial sta         $ Three Months Ended March 31,) !(in thousands, except share data)~  ~   Revenues:   % Leasing and services revenue:   Modular leasing~ ~ 5)!Modular delivery and installation~ *~ (Sales: New units~ t~ U Rental units~ ;~ R[Total revenues~ ~9~ Costs:&Costs of leasing and services:Modular leasing~ j~ z*)!Modular delivery and installation~ Ǝ~ VCosts of sales: New units~ M~ ": Rental units~ .$~ 9( Depreciation of rental equipment~ t~ B Gross Profit~ ~ P Expenses:+#Selling, general and administrative~ z~ +#Other depreciation and amortization~ &~ VD lF:."-LTl>RU !"#$%&'()*+,-./0123456789:;<= Restructuring costs~    ~ r $!Currency losses (gains), net~ !!!~ !!#"Other (income) expense, net~ """~ " "#Operating income~ #E##~ #bK#$Interest expense~ $$$~ $V$%Interest income %?%%~ %%.&&Loss from continuing operations before~ &&&~ &n&' income tax(Income tax benefit~ (r((~ ((')Loss from continuing operations~ )6))~ )>),*$Income from discontinued operations, *?**~ *v"*+ net of tax,Net loss~ ,6,,~ ,`,0-(Net loss attributable to non-controlling~ --- -?-.interest, net of tax&/Total loss attributable to WSC~ /V//~ /`/00000001(Net (loss) income per share attributable11111"2to WSC ? basic and diluted3Continuing operations3{Gz33333333334Discontinued operations 4$?444333333?45Net loss per share5{Gz555ffffff56Weighted average shares666667Basic and diluted~ 7:Jg77~ 7w7)8!Cash dividends declared per share 8?88 8?89:$;____________________________1<)Created by Morningstar Document Research.0=(http://documentresearch.morningstar.com/@ D9vN8o#QR&^RF=PF0*8X> @"D==<<;;88887777555544443333////----,,,,****))))((((&&&&%%%%$$$$####""""!!!!      l  9  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } y<} $       WillScot Corp 10-Q 05/04/2018kcSee the accompanying notes which are an integral part of these condensed consolidated financial sta         $ Three Months Ended March 31, (in thousands)~  ~  Net loss~ 6  ~ ` # Other comprehensive income:     0(Foreign currency translation adjustment,~ ~ )2*net of income tax expense of $148 and $1561)for the three months ended March 31, 2018and 2017, respectivelyComprehensive loss~ ~ ڊ:2Comprehensive loss attributable to non-controlling~ B ?interest-%Total comprehensive loss attributable~ ~ ڊto WSC$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:F:."@*( =PF0*8X> @      l  EH  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } 8} $ E      WillScot Corp 10-Q 05/04/2018kcSee the accompanying notes which are an integral part of these condensed consolidated financial sta         $ Three Months Ended March 31, (in thousands)~  ~  Operating Activities:    Net loss~ 6  ~ ` 'Adjustments for non-cash items:%Depreciation and amortization~ ~ ~'Provision for doubtful accounts~ ~  2*Gain on sale of rental equipment and other~ ֹ~ :%property, plant and equipment,$Interest receivable capitalized into ?~ !notes due from affiliates/'Amortization of debt discounts and debt~ ~ .issuance costs( Share based compensation expense~  ?#Deferred income tax benefit~ r~ ~$Foreign currency adjustments~ &~ 4,Changes in operating assets and liabilities:Trade receivables~ ~~  Inventories~ ~  Prepaid and other assets~ " ~ #Accrued interest receivable ?~  Accrued interest payable~ ]~ :DL lF:."@@l^9Arb !"#$%&'()*+,-./0123456789:;<=>?6 .Accounts payable and other accrued liabilities~ v  ~ n) .!&Deferred revenue and customer deposits~ !^)!!~ ! $!1")Net cash provided by operating activities~ "J""~ "v"#Investing Activities:#####!$Acquisition of a business~ $$$ $?$.%&Proceeds from sale of rental equipment~ %%%~ %R[%$&Purchase of rental equipment~ & &&~ &z&,'$Lending on notes due from affiliates '?''~ ' '1()Proceeds from the sale of property, plant~ (.((~ (*() and equipment1*)Purchase of property, plant and equipment~ *b**~ **-+%Net cash used in investing activities~ +& ++~ ++,Financing Activities:,,, -Receipts from borrowings~ -F--~ -6X-0.(Receipts on borrowings from notes due to .?..~ ../ affiliates"0Payment of financing costs 0?00~ 0[01Repayment of borrowings 1?11~ 1172/Principal payments on capital lease obligations~ 222~ 2*213)Net cash provided by financing activities~ 32F33~ 3n}3/4'Effect of exchange rate changes on cash~ 4&44~ 445and cash equivalents/6'Net change in cash and cash equivalents~ 6266~ 6627*Cash and cash equivalents at the beginning~ 777~ 7J`78 of the period39+Cash and cash equivalents at the end of the~ 9,99~ 9B9:period;;;;+<#Supplemental Cash Flow Information:<<<= Interest paid~ =B==~ =w=2>*Income taxes paid, net of refunds received~ >2 >>~ >>/?'Capital expenditures accrued or payable~ ?J??~ ?j?D+lBl !x(82,>@ABCD@A$B____________________________1C)Created by Morningstar Document Research.0D(http://documentresearch.morningstar.com/ P=PF0*8X> @PDDCCBB????>>>>====99997777666644443333222211110000....----++++****((((''''&&&&%%%%$$$$""""!!!!        l  %+  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } 1} $ %      WillScot Corp 10-Q 05/04/2018Acton Acquisition     (in thousands) Three Months Ended  March 31, 2017! WSC historic revenues (a)~   Acton historic revenues~ 2Z Pro-forma revenues~ j$WSC historic pretax loss (a)~ n"Acton historic pretax loss~ jPro-forma pretax loss~ 0(Pro-forma adjustments to combined pretax loss:1)Impact of fair value mark-ups/useful life~ #changes on depreciation (b))!Intangible asset amortization (c)~ >Interest expense (d)~ .&Elimination of historic Acton interest~ j (e)Pro-forma pretax loss~ >Income tax benefit~ n0(Proforma loss from continuing operations~ #+#Income from discontinued operations~ v"Net loss~ FFD lth8^&QC s; !"#$ !$"____________________________1#)Created by Morningstar Document Research.0$(http://documentresearch.morningstar.com/ P=PF0*8X> @$$##""     l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } U5} $       WillScot Corp 10-Q 05/04/2018,$Results from Discontinued Operations     (in thousands) March 31, 2017% Remote accommodations revenue~  . &Remote accommodations costs of leasing~ ޴   and services( Depreciation of rental equipment~ ^d Gross profit~ 4,Selling, general and administrative expenses~ b/+#Other depreciation and amortization~ Restructuring costs~ Other income, net~ Operating profit~ DInterest expense~  ,$Income from discontinued operations,~ F:before income taxIncome tax expense~ ,$Income from discontinued operations,~ v" net of tax$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/BXymaU%bJ7[r\P(=PF0*8X> @    l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } *} $       WillScot Corp 10-Q 05/04/2018,$Results from Discontinued Operations     (in thousands) March 31, 2017& Remote accommodations revenue:   Lease revenue~ 2  Service revenue~  +#Total remote accommodations revenue~ #Remote accommodation costs:Cost of leases~ "Cost of services~ ڒ)!Total remote accommodations costs~ ޴$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6ymaU%S U=PF0*8X> @R     l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } y#} $       WillScot Corp 10-Q 05/04/2018,$Results from Discontinued Operations     (in thousands) March 31, 2017% Depreciation and amortization~ w  Capital expenditures~ #  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(TymaU%th\4=PF0*8X> @2    l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } y#} $       WillScot Corp 10-Q 05/04/2018,$Results from Discontinued Operations         (in thousands) March 31, 2018  December 31, 2017% Raw materials and consumables~   ~   Total inventories~   ~   $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(?TymaU/=PF0*8X> @J        l  8  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } m)} $       WillScot Corp 10-Q 05/04/2018,$Results from Discontinued Operations         (in thousands) March 31, 2018  December 31, 2017* "Modular units and portable storage~ (W  ~ T ) !Value added products and services~   ~   Total rental equipment~ Z  ~ n9X &Less: accumulated depreciation~ .~ BRental equipment, net~ A~ J|?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.ymaU*[xP=PF0*8X> @z         l  s  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable 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US  Modular ? Other  Total       North America" Balance at January 1, 2017 $?  ~ w  ~ w ! Acquisition of a business~    ?  ~  0(Effects of movements in foreign exchange ?~ r=~  r=  ratesImpairment losses ?~ J~  J $Balance at December 31, 2017~  ?~   !Acquisition of a business~ :5 ?~  :5 -%Changes to preliminary purchase price~  ?~    allocations!Balance at March 31, 2018~ 2 $?~  2 $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:\ ymaUOnK:+ i]Q)=PF0*8X> @                l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } 6} m} $ } }  $                          WillScot Corp 10-Q 05/04/2018,$Results from Discontinued Operations            $ (in thousands, except rates)  Interest rate  Year of maturity  March 31, 2018  December 31, 2017 Senior secured notes 7.875% ~  ~   ~   US ABL Facility Varies ~  ~ 6k  ~ % ! Canadian ABL Facility (a) Varies ~   ?   ? 5-Capital lease and other financing obligations~ .Y~  B]  Total debt~ N(~  @& /'Less: current portion of long-term debt~ ~   Total long-term debt~ j(~  #& $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2ymaU uGu=PF0*8X> @           l  `!  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } }  } $       WillScot Corp 10-Q 05/04/2018Senior Secured Notes    Year Redemption Price~  y&1Y@ %~  t~Y@ % 2021 and thereafter~  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*h}qeAuiA=PF0*8X> @"  l  -  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured NotesNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } U5} $                       WillScot Corp 10-Q 05/04/2018,$Accumulated Other Comprehensive Loss          (in thousands) / 'Foreign Currency Translation Adjustment  Total$ Balance at December 31, 2017 ~   ~  (  Total other comprehensive income ~   ~  4 ,Reclassifications to accumulated deficit (a) ~ R  ~ R !Balance at March 31, 2018~ ~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|ymaUszR=PF0*8X> @j          l  9  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable 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from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } } U5       WillScot Corp 10-Q 05/04/2018 Non-Controlling Interest    Level 1 -/ 'Observable inputs such as quoted prices . &in active markets for identical assets  or liabilities;  Level 2 -4 ,Observable inputs, other than Level 1 inputs.&in active markets, that are observable*"either directly or indirectly; and Level 3 -.&Unobservable inputs for which there is/'little or no market data, which require/'the reporting entity to develop its own assumptions$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6ymaIOQ=PF0*8X> @ l  !U  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } -} $       WillScot Corp 10-Q 05/04/2018 Non-Controlling Interest                           March 31, 2018 December 31, 2017  Carrying Amount  Fair Value Carrying Amount  Fair Value (in thousands)    Level 1 Level 2 Level 3    Level 1 Level 2 Level 3- %Financial liabilities not measured at         fair value!ABL Facility (see Note 7)~ Δ $?~    $? ~  V $?~ B $?Notes (see Note 7)~ < ?~    ? ~  B ?~   ? Total~  $?~ f   $? ~  Z $?~ " $?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2, yma5 *I=1 =PF0*8X> @:'                  l  b  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } %} $       WillScot Corp 10-Q 05/04/2018 Non-Controlling Interest         $ Three Months Ended March 31, (in thousands)~  ~  Balance at January 1,~   ~  ! Charges during the period~    ~ r 'Cash payments during the period~ ~ ~Currency~ ~  Balance at March 31,~  ~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0yma*Zf=PF0*8X> @        l  n  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } }  } $       WillScot Corp 10-Q 05/04/2018Restricted Stock Awards         Number of Shares . &Weighted-Average Grant Date Fair Value" Balance, December 31, 2017 ?   $?  Granted~ n   333333+@   Forfeited ?   ? Balance, March 31, 2018~ n333333+@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|znbC2&=PF0*8X> @J       l  Wz  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } }  } $       WillScot Corp 10-Q 05/04/2018Restricted Stock Units         Number of Shares . &Weighted-Average Grant Date Fair Value" Balance, December 31, 2017 ?   $?  Granted~  B8   333333+@   Forfeited ?   ? Balance, March 31, 2018~  B8333333+@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|{ocD3'=PF0*8X> @J       l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } 0.}  } $       WillScot Corp 10-Q 05/04/2018Stock Option Awards         Number of Options 1 )Weighted-Average Exercise Price per Share    ~ . &Outstanding options, December 31, 2017 ?   $?  Granted~ &#   333333+@  Exercised ? ? Forfeited ? ?+#Outstanding options, March 31, 2018~ &#333333+@-%Fully vested and exercisable options, ? $? end of period$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2i~rfjO=PF0*8X> @b       l  ?  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsReportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } 0.} $ } $       WillScot Corp 10-Q 05/04/2018Stock Option Awards      March 31, 2018 Expected volatility~  % Expected dividend yield ?  Risk-free interest rate ףp= @ % Expected term (in years)@Exercise price333333+@.&Weighted-average grant date fair value ףp= @$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0~rf6XvN=PF0*8X> @R      l  (X  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } $4}  $ (                                  WillScot Corp 10-Q 05/04/2018Reportable Segments             ) !Three Months Ended March 31, 2018 (in thousands)  Modular - US % Modular - Other North America  Total  Revenues:     % Leasing and services revenue:     Modular leasing~ 2^~ ~   )!Modular delivery and installation~ v~ #~  * Sales:  New units~ ~j~  ~  t  Rental units~ j4~ &~  ; Total Revenues~ s~ ~  ~9  Costs: %Cost of leasing and services: Modular leasing~ ~  ~  j )!Modular delivery and installation~ rf~ V(~  Ǝ Cost of sales:  ?  New units~ ZG~ ~  M  Rental units~ ~ z~  .$ ( Depreciation of rental equipment~ >C~ Z1~  t  Gross profit~ b~ F@~   Adjusted EBITDA~ ~ -~  * Other selected data: DP l~rfcO@ y  ! " # $ % & ' 3 +Selling, general and administrative expense~ }  ~ D  ~ z +!#Other depreciation and amortization~ !v"!!~ !!!~ ! &! -"%Capital expenditures for rental fleet~ """~ "b""~ " R" #$$%____________________________1&)Created by Morningstar Document Research.0'(http://documentresearch.morningstar.com/c7+=PF0*8X> @5'' && %% """""" !!!!!!                   l  (  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } $4} $ (      WillScot Corp 10-Q 05/04/2018Reportable Segments                 ) !Three Months Ended March 31, 2017 (in thousands)  Modular - US % Modular - Other North America  Corporate & Other  Total  Revenues:       % Leasing and services revenue:       Modular leasing~ ~ j|~    ~  5)!Modular delivery and installation~ *~   ?  ~  (Sales:    New units~ >~ "  ?  ~  U Rental units~ 6L~   ?  ~  R[Total Revenues~ U~ n~    ~     Costs:   %Cost of leasing and services:   Modular leasing~ ~~   $?  ~  z*)!Modular delivery and installation~ ~   ?  ~  VCost of sales:    New units~ (~ v~    ~  ": Rental units~ 0~ N   ?  ~  9( Depreciation of rental equipment~ ~ >-  ?  ~  BGross profit (loss)~ ^~ B~    ~  PAdjusted EBITDA~ r~ 0~  "  ~  VOther selected data:   D%l~rfmW3{u,fB{!v !"#$%&'3 +Selling, general and administrative expense~ *v  ~ Z?  ~ fJ  ~  +!#Other depreciation and amortization~ !!!~ !!!~ ! ! ! ~ ! V!-"%Capital expenditures for rental fleet~ "X""~ " "" " $?" " ~ " Vb"#$$%____________________________1&)Created by Morningstar Document Research.0'(http://documentresearch.morningstar.com/==PF0*8X> @"D''&&%%"""""" "" !!!!!! !!                                 l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } 0.}  $                              WillScot Corp 10-Q 05/04/2018Reportable Segments             ) !Three Months Ended March 31, 2018 (in thousands)  Modular - US % Modular - Other North America  Total. &Loss from continuing operations before~   ~   ~    income taxesInterest expense, net~ b~ ~   %Depreciation and amortization~ e~ 4~   Currency losses, net~ v~  ~   Restructuring costs~  ~ *~    Integration costs~ ) ?~  ) "Stock compensation expense~  ?~    Other expense~ Z~  ~  b Adjusted EBITDA~ ~ -~  * $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/: ~rfiSH;;/#=PF0*8X> @"                l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } 0.} $       WillScot Corp 10-Q 05/04/2018Reportable Segments                 ) !Three Months Ended March 31, 2017 (in thousands)  Modular - US % Modular - Other North America  Corporate & Other  Total. &Loss from continuing operations before~   ~ "  ~ X  ~ n   income taxesInterest expense, net~ ~ j~  rS  ~  X%Depreciation and amortization~ ~ 1~    ~  #Currency gains, net~ ~ ~    ~  Restructuring costs ? ?~  r  ~  r Other expense~ j~  ~  ^  ~  Adjusted EBITDA~ r~ 0~  "  ~  V$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6 ~rfm=4=PF0*8X> @"$                    l  %  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } %} 1} $                       WillScot Corp 10-Q 05/04/2018Reportable Segments             March 31,   December 31, (in thousands)% Financial statement line Item~  ~ ' Receivables due from affiliates1 )Prepaid expenses and other current assets~    ~ , ! Amounts due to affiliates Accrued liabilities~ B  ~  ,$Total related party liabilities, net~ ~ r$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|~rf>^=PF0*8X> @j          l  /  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } U5} 2} $                          WillScot Corp 10-Q 05/04/2018Reportable Segments           $ Three Months Ended March 31, (in thousands)% Financial statement line item~  ~ , $Leasing revenue from related parties Modular leasing revenue~ r   $? . &Management fees and recharge income on2 *Selling, general & administrative expenses ?  ~  $transactions with affiliates4,Interest income on notes due from affiliatesInterest income ?~ 3+Interest expense on notes due to affiliatesInterest expense ?~ F)!Total related party expenses, net~ r~ ʨ$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2%~rfO[PD8=PF0*8X> @        l  5#  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } 0}  $ 5                                  WillScot Corp 10-Q 05/04/2018Reportable Segments             $ Three Months Ended March 31, 2018 vs. 2017 $ Change (in thousands)~  ~    Revenues:     % Leasing and services revenue:     Modular leasing~ ~ 5~  ι )!Modular delivery and installation~ *~ (~  :q Sales:   New units~ t~ U~  Z  Rental units~ ;~ R[~  > Total revenues~ ~9~ ~  ) Costs: &Costs of leasing and services: Modular leasing~ j~ z*~  } )!Modular delivery and installation~ Ǝ~ V~  rs Costs of sales:   New units~ M~ ":~    Rental units~ .$~ 9~  > ( Depreciation of rental equipment~ t~ B~  Vo  Gross Profit~ ~ P~    Expenses: +#Selling, general and administrative~ z~ ~   +#Other depreciation and amortization~ &~ V~   D l~rf2|hG`jqa ! " # $ % & ' ( ) * + , - . / 0 1 2 3 4  Restructuring costs~    ~ r  ~ b $!Currency losses (gains), net~ !!!~ !!!~ ! J/! #"Other (income) expense, net~ """~ " ""~ " " #Operating income~ #E##~ #bK##~ # b# $Interest expense~ $$$~ $V$$~ $ 5$ %Interest income %?%%~ %%%~ % b(% .&&Loss from continuing operations before~ &&&~ &n&&~ & :& ' income tax(Income tax benefit~ (r((~ (((~ ( E( ')Loss from continuing operations~ )6))~ )>))~ ) V) ,*$Income from discontinued operations, *?**~ *v"**~ * * + net of tax,Net loss~ ,6,,~ ,`,,~ , B4, 0-(Net loss attributable to non-controlling~ --- -?--~ - - .interest, net of tax&/Total loss attributable to WSC~ /V//~ /`//~ / b>/ 01$2____________________________13)Created by Morningstar Document Research.04(http://documentresearch.morningstar.com/. {`\D.n[;k=PF0*8X> @U44 33 22 ////// ------ ,,,,,, ****** )))))) (((((( &&&&&& %%%%%% $$$$$$ ###### """""" !!!!!!                   l  S8  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } $4} $ } $} $ } $}  $ } $                                  WillScot Corp 10-Q 05/04/2018Income Tax Benefit:             ) !Three Months Ended March 31, 2018/ '(in thousands, except for units on rent  Modular - US % Modular - Other North America  Total  and rates) Revenue~ s  ~   ~ ~9  Gross profit~ b~ F@~   Adjusted EBITDA~ ~ -~  * 1)Capital expenditures for rental equipment~ ~ b~  R 3+Modular space units on rent (average during~ F~ >U~  M  the period).&Average modular space utilization rate33333Q@ %LL@ % yQ@  %1)Average modular space monthly rental rate~ V~ v~  Z /'Portable storage units on rent (average~ ~ ~   during the period),$Average portable storage utilization33333Q@ %fffffK@ % 33333Q@  % rate/'Average portable storage monthly rental~ ~ ~    rate$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/B= X~rfqr:#|H*u=PF0*8X> @*%                 l  M  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitAdjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } $4} $ } $} $ } $}  $ } $} $ } $       WillScot Corp 10-Q 05/04/2018Income Tax Benefit:                 ) !Three Months Ended March 31, 2017/ '(in thousands, except for units on rent  Modular - US % Modular - Other North America  Corporate & Other  Total  and rates) Revenue~ U  ~ n  ~   ~   Gross profit~ ^~ B~    ~  PAdjusted EBITDA~ r~ 0~  "  ~  V1)Capital expenditures for rental equipment~ X~    $?  ~  Vb3+Modular space units on rent (average during~  $~ 6K  ?  ~  >o the period).&Average modular space utilization rate33333R@ %33333sH@ %  ?  %  33333Q@ %1)Average modular space monthly rental rate~ ~ J  $?  ~  /'Portable storage units on rent (average~ ~   ?  ~  nduring the period),$Average portable storage utilizationfffffR@ %YJ@ %  ?  %  lR@ % rate/'Average portable storage monthly rental~ ~   $?  ~   rate$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/B X~rfmN$ @ =PF0*8X> @0                          l   O_  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } 0.} $       WillScot Corp 10-Q 05/04/2018Adjusted EBITDA         $ Three Months Ended March 31, (in thousands)~  ~  Net loss~ 6  ~ ` , $Income from discontinued operations, ?  ~ v"  net of tax'Loss from continuing operations~ 6~ >Income tax benefit~ r~ .&Loss from continuing operations before~ ~ n income taxInterest expense, net~ ~ X%Depreciation and amortization~ ~ #$Currency losses (gains), net~ ~ Restructuring costs~  ~ rIntegration costs~ ) ?"Stock compensation expense~  ? Other expense~ b~ Adjusted EBITDA~ *~ V$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/D lvj @Pj 8}dXL$=PF0*8X> @         l  k  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDA Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } '} $       WillScot Corp 10-Q 05/04/2018Adjusted Gross Profit         $ Three Months Ended March 31, (in thousands)~  ~   Gross profit~   ~ P (  Depreciation of rental equipment~ t  ~ B Adjusted Gross Profit~ :~  V$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,||pd6i]Q)=PF0*8X> @b         l  x  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } 6} $       WillScot Corp 10-Q 05/04/2018&Net Capex for Rental Equipment         $ Three Months Ended March 31, (in thousands)~  ~ * "Total purchase of rental equipment~    ~ z 0 (Total purchases of rental equipment from ?  ~ R discontinued operations0(Total purchases of rental equipment from~  ~ continuing operations.&Proceeds from sale of rental equipment~ ~ R[5-Net Capital Expenditures for Rental Equipment~ ~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4sg[ z=PF0*8X> @        l  ,Ð=  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the Thr EXHIBITU } 0.} $ ,      WillScot Corp 10-Q 05/04/2018&Adjusted EBITDA less Net CAPEX                 ) !Three Months Ended March 31, 2018 (in thousands)  Modular - US % Modular - Other North America  Corporate & Other   Consolidated Net (loss) income~   ~   ~   ~ 6 , $Income from discontinued operations, ?   ?   ?   ?  net of tax'Loss from continuing operations~ ~ ~    ~  6Income tax benefit (a) ? ?~  r  ~  r.&Loss from continuing operations before~ ~   ?  ~   income taxInterest expense, net~ b~   ?  ~  Operating income (loss)~ r[~ R  ?  ~  E%Depreciation and amortization~ e~ 4  ?  ~  EBITDA~ "~ F  ?  ~  fCurrency losses, net~ v~    ?  ~  Restructuring costs~  ~ *  ?  ~   Integration costs~ ) ?  ?  ~  )"Stock compensation expense~  ?  ?  ~   Other expense~ Z~    ?  ~  bAdjusted EBITDA~ ~ -  ?  ~  * Less:   Rental unit sales~ j4~ &  ?  ~  ;!Rental unit cost of sales~ ~ z  ?  ~  .$Dlsg[bM7UVZ` !"#$%&'()*+) !Gross profit on rental unit sales~   ~    ?  ~ b "!Gain on insurance proceeds~ !.!! !?!! ! ?! ! ~ ! .! "Less:""""" " " "#Total capital expenditures~ #V##~ ### # ?# # ~ # #'$Proceeds from rental unit sales~ $w$$~ $&$$ $ ?$ $ ~ $ $ %Net Capital Expenditures~ %zt%%~ %z%% % ?% % ~ % %&&Adjusted EBITDA less Net CAPEX~ &E&&~ &&& & $?& & ~ & b^&'($)____________________________1*)Created by Morningstar Document Research.0+(http://documentresearch.morningstar.com/2H3g[O'=PF0*8X> @"d++**))&&&&&& && %%%%%% %% $$$$$$ $$ ###### ## !!!!!! !!                                             l  1]ȹ  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX!Cash Flow Comparison of the Thr EXHIBITU } I;} $ 1      WillScot Corp 10-Q 05/04/2018&Adjusted EBITDA less Net CAPEX                 ) !Three Months Ended March 31, 2017 (in thousands)  Modular - US % Modular - Other North America  Corporate & Other   Consolidated Net loss~   ~ "  ~ >  ~ ` , $Income from discontinued operations, ?   ?  ~ v"  ~ v" net of tax (b)'Loss from continuing operations~ ~ "~  ʤ  ~  >Income tax benefit (a) ? ?~    ~  .&Loss from continuing operations before~ ~ "~  X  ~  n income taxInterest expense, net~ ~ j~  rS  ~  XOperating income (loss)~ ~ ~  &  ~  bK%Depreciation and amortization~ ~ 1~    ~  #EBITDA~ ~ 3~    ~  nCurrency gains, net~ ~ ~    ~  Restructuring costs ? ?~  r  ~  r Other expense~ j~  ~  ^  ~  Adjusted EBITDA~ r~ 0~  "  ~  V Less:   Rental unit sales~ 6L~   ?  ~  R[!Rental unit cost of sales~ 0~ N   ?  ~  9)!Gross profit on rental unit sales~ ~   ?  ~  b! Less:   Dlsg[bT:VT[O !"#$%&'()*+,-./0" Total capital expenditures~ ^b  ~     ?  ~ bl 4!,Total capital expenditures from discontinued !?!! !?!!~ ! "! ! ! " operations2#*Total capital expenditures from continuing~ #^b##~ # ##~ # R# # ~ # bl#$ operations'%Proceeds from rental unit sales~ %6L%%~ %%% % ?% % ~ % R[%9&1Proceeds from rental unit sales from discontinued &?&& &?&& & ?& &  & ?&' operations7(/Proceeds from rental unit sales from continuing~ (6L((~ ((( ( ?( ( ~ ( R[() operations *Net Capital Expenditures~ ****~ ***~ * R* * ~ * *&+Adjusted EBITDA less Net CAPEX~ +V@++~ +0++~ + + + ~ + z$+,-$.____________________________1/)Created by Morningstar Document Research.00(http://documentresearch.morningstar.com/&#@O2V@=PF0*8X> @:g00//..++++++ ++ ****** ** (((((( (( &&&&&& && %%%%%% %% ###### ## !!!!!!                                          l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1) EXHIBITU } a/} $       WillScot Corp 10-Q 05/04/2018NFCash Flow Comparison of the Three Months Ended March 31, 2018 and 2017         $ Three Months Ended March 31, (in thousands)~  ~ * "Net cash from operating activities~ J  ~ v * "Net cash from investing activities~ &   ~  *"Net cash from financing activities~ 2F~ n}/'Effect of exchange rate changes on cash~ &~ and cash equivalents/'Net change in cash and cash equivalents~ 2~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2hcWK?3] =PF0*8X> @        l  &  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??(!SECURITIES EXCHANGE ACT OF 1934Baltimore Maryland 21231Quarterly Report on Form 10QPART I!See the accompanying notes whic!See the accompanying notes (1)!See the accompanying notes (2)Acton Acquisition!Results from Discontinued Opera!Results from Discontinued O (1)!Results from Discontinued O (2)!Results from Discontinued O (3)!Results from Discontinued O (4)!Results from Discontinued O (5)!Results from Discontinued O (6)Senior Secured Notes!Accumulated Other ComprehensiveNonControlling InterestNonControlling Interest (1)NonControlling Interest (2)NonControlling Interest (3)Restricted Stock AwardsRestricted Stock UnitsStock Option AwardsStock Option Awards (1)Reportable SegmentsReportable Segments (1)Reportable Segments (2)Reportable Segments (3)Reportable Segments (4)Reportable Segments (5)Reportable Segments (6)Income Tax BenefitIncome Tax Benefit (1)Adjusted EBITDAAdjusted Gross Profit Net Capex for Rental Equipment Adjusted EBITDA less Net CAPEX Adjusted EBITDA less Net C (1)!Cash Flow Comparison of the ThrU } } U} 6 &      WillScot Corp 10-Q 05/04/2018EXHIBIT     Exhibit No.  Exhibit Description ?@ *0 (Certification of Chief Executive Officer  5 -pursuant to Section 302 of the Sarbanes-Oxley    Act of 2002333333?@ *0(Certification of Chief Financial Officer5-pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 @@ **0(Certification of Chief Executive Officer5-pursuant to Section 906 of the Sarbanes-Oxley Act of 2002@@ **0(Certification of Chief Financial Officer5-pursuant to Section 906 of the Sarbanes-Oxley Act of 2002101.INSXBRL Instance Document101.SCH/'XBRL Taxonomy Extension Schema Document101.CAL4,XBRL Taxonomy Extension Calculation LinkbaseDocument101.DEF3+XBRL Taxonomy Extension Definition LinkbaseDocument101.LAB.&XBRL Taxonomy Extension Label LinkbaseDocument101.PRE,$XBRL Taxonomy Extension PresentationD& l~rN h9f>}+R& !"#$%   Linkbase Document!"$#____________________________1$)Created by Morningstar Document Research.0%(http://documentresearch.morningstar.com/Vd=PF0*8X> @%%$$## Root Entry FBook    !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmn