Hertz Investor Presentation Deck

U.S RAC BUSINESS GAINING MOMENTUM ■ ■ I Commentary Every month since the trough in April, revenue has steadily increased with the mix of rentals shifting significantly to off airport locations Revenue was up -$50mm from April to May and -$80mm from May to June Airport locations have seen slower recovery as passenger travel remains soft as demonstrated by TSA screenings data - Airport Rate Per Day ("RPD") has been consistently increasing month over month since bottom of demand in April and has largely fully recovered to 2019 levels TSA screenings remained down -80% in July but have recovered from low of down 96% in April Off airport business is seeing a faster recovery due to consumer desire to have access to vehicles for leisure travel and an uptick in insurance replacement business Off airport RPD has also largely fully recovered to 2019 levels Airport On-Rents 250,000 200,000 150,000 100,000 50,000 0 Mar-20 Apr-20 May-20 Jun-20 Jul-20 10.0% (10.0%) (30.0%) (50.0%) 76,948 (70.0%) (71.9%) (90.0%) Aug-20 % YoY Change vs. 2019 Hertz dollar. Thrifty DONLEN CAR RENTAL CAR RENTAL A Hertz Company 140,000 120,000 100,000 80,000 60,000 40,000 20,000 Strictly Confidential Subject to CA/ NDA 0 Mar-20 Actuals Apr-20 Off Airport On-Rents mur May-20 Jun-20 Jul-20 0.0% (10.0%) 99,583 (20.0%) (30.1%) (30.0%) (40.0%) (50.0%) (60.0%) Aug-20 20

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