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Mobile Mini Initiates Quarterly Cash Dividend and Authorizes $125 Million Share Repurchase Program

  Mobile Mini Initiates Quarterly Cash Dividend and Authorizes $125 Million
  Share Repurchase Program

Business Wire

TEMPE, Ariz. -- November 8, 2013

Mobile Mini, Inc. (NASDAQ GS:MINI), the world’s leading supplier of portable
storage solutions, today announced that its Board of Directors has authorized
the payment of quarterly cash dividends, the first cash dividends in the
Company’s history, as well as a share repurchase program. The announcement
highlights the Company’s confidence in its long-term strategy, operational
excellence, expected revenue and earnings growth, and the maintenance of a
strong and consistent free cash flow profile.

Capital Allocation Highlights

  *Initiating a regular quarterly cash dividend of $0.17 per share, or $0.68
    per share annually. The initial quarterly dividend will be payable on
    March 20, 2014 to all common shareholders of record as of March 6, 2014.
  *Authorizing a repurchase program for up to $125 million of common stock in
    open market and private transactions.
  *The dividend initiation and share repurchase program do not diminish the
    Company’s ability to aggressively deploy capital for organic growth
    opportunities or pursue potential acquisitions.
  *Strong balance sheet and stable free cash flow generation supports an
    ongoing shareholder payout.
  *Targeting debt/adjusted EBITDA between 3.0-4.0x on a sustained basis.

“Our unique market position and superior business model allow us to combine a
growth strategy with significant returns to our shareholders. We have a long
track record of creating value by aggressively investing in our business,”
said Erik Olsson, Mobile Mini’s President and CEO. “Our decision to declare a
quarterly dividend is a result of our strong operating results and consistent
free cash flow generation. As a result, we have substantial financial
flexibility, which enables us to continue to invest in numerous organic and
strategic growth opportunities, while at the same time enhancing returns to
shareholders.”

Mark Funk, Mobile Mini’s Executive Vice President and Chief Financial Officer
added, “Our strong free cash flow totaled $103.5 million over the last twelve
months and has enabled us to reduce our debt-to-adjusted EBITDA ratio to
approximately 3.5x. The durability of our business model, as evidenced by our
performance over the last cycle, its significant operating leverage, and its
capacity to generate free cash flow, will continue to support our ongoing
growth initiatives, while driving value to our shareholders through the cash
dividend and our share repurchase program.”

About Mobile Mini

Mobile Mini, Inc. is the world’s leading provider of portable storage
solutions. Mobile Mini is included on the Russell 2000® and 3000® Indexes and
the S&P Small Cap Index. For more information visit www.mobilemini.com.

This news release contains forward-looking statements, including, but not
limited to, our ability to invest in and generate growth opportunities, our
operating results, such as revenue and earnings growth and free cash flow
generation, and enhance returns to shareholders, which involve inherent risks
and uncertainties. Statements that are not historical facts, including
statements about Mobile Mini, Inc.'s beliefs, plans or expectations, are
forward-looking statements. These statements are based on current plans,
estimates and expectations. Actual results may differ materially from those
projected in such forward-looking statements and therefore you should not
place undue reliance on them. A non-exclusive list of the important factors
that could cause actual results to differ materially from those in such
forward looking statements is set forth in Mobile Mini, Inc.'s most recent
report on Form 10-K and Mobile Mini’s other documents on file with the
Securities and Exchange Commission. Mobile Mini, Inc. undertakes no obligation
to publicly update or revise any forward-looking statement, whether as a
result of new information, future developments or otherwise.

Contact:

Mobile Mini, Inc.
Mark Funk, 480-477-0241
Executive VP & Chief Financial Officer
www.mobilemini.com
or
INVESTOR RELATIONS COUNSEL:
The Equity Group Inc.
Fred Buonocore, 212-836-9607
or
Linda Latman, 212-836-9609
 
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