Custom Truck (CTOS) Announces 12.3M Share Secondary Offering of Common Stock

Custom Truck One Source, Inc. (the "Company") (NYSE: CTOS) today announced that selling stockholders affiliated with Blackstone have commenced a secondary offering of 12,322,975 shares of Company common stock. In connection with the offering, the selling stockholders intend to grant the underwriters a 30-day option to purchase up to an additional 1,848,446 shares of Company common stock.

The Company is not offering any shares of its common stock and will not receive any net proceeds from the sale of common stock by the selling stockholders. Citigroup is serving as the lead book running manager of, and representative of the underwriters for, the offering. Baird, Deutsche Bank Securities, Oppenheimer & Co. Inc. and Stifel are also serving as book-running managers of the offering.

The offering of these securities will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the offering may be obtained from:

Citigroup Global Markets Inc.Attention: Prospectus DepartmentC/O Broadridge Financial Solutions1155 Long Island AvenueEdgewood, New York 11717Telephone: (800) 831-9146

The offering of these securities is being made pursuant to an effective shelf registration statement. These securities may not be sold, nor may offers to buy be accepted, prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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