Hertz Investor Presentation Deck

DISCLAIMERS (CONT'D) Strictly Confidential Subject to CA/NDA Forward-Looking Statements Certain statements contained in this presentation, and in related comments by the Company's management, include "forward-looking statements." Forward-looking statements include information conceming the Company's liquidity and its possible or assumed future results of operations, including descriptions of its business strategies. These statements often include words such as "believe," "expect," "project," "potential," "anticipate," "intend," "plan," "estimate," "seek," "will," "may," "would," "should," "could," "forecasts" or similar expressions. These statements are based on certain assumptions that the Company has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate in these circumstances. The Company believes these judgments are reasonable, but you should understand that these statements are not guarantees of performance or results, and the Company's actual results could differ materially from those expressed in the forward-looking statements due to a variety of important factors, both positive and negative. Important factors that could affect the Company's actual results and cause them to differ materially from those expressed in forward-looking statements include, among others, those that may be disclosed, revised or supplemented from time to time in subsequent reports on Forms 10-K, 10-Q and 8-K filed with or fumished to the Securities and Exchange Commission ("SEC"). Among other items, such factors could include: our ability to navigate the Chapter 11 process, including obtaining Bankruptcy Court approval for certain requirements, complying with and operating under the requirements and constraints of the Bankruptcy Code, gotiating and consun ting a Chapter 11 plan, developing, funding and exe our business plan and cont ing as a going concem; our ability to maintain listing of our common stock on the New York Stock Exchange; the value of our common stock due to the Chapter 11 process; levels of travel demand, particularly with respect to business and leisure travel in the United States and in global markets; the length and severity of the COVID-19 pandemic and the impact on our vehicle rental business as a result of travel restrictions and business closures or disruptions; the impact of the COVID-19 pandemic and actions taken in response to the pandemic on global and regional economies and economic factors; general economic uncertainty and the pace of economic recovery, including in key global markets, when the COVID-19 pandemic subsides; our ability to successfully restructure our substantial indebtedness or raise additional capital; our post- bankruptcy capital structure; our ability to maintain an effective employee retention and talent management strategy and resulting changes in personnel and employee relations; the recoverability of our goodwill and indefinite-lived intangible assets when performing impairment analysis; our ability to dispose of vehicles in the used-vehicle market, use the proceeds of such sales to acquire new vehicles and to reduce exposure to residual risk; actions creditors may take with respect to the vehicles used in the rental car operations; significant changes in the competitive environment and the effect of competition in our markets on rental volume and pricing, including on our pricing policies or use of incentives; occurrences that disrupt rental activity during our peak periods; our ability to accurately estimate future levels of rental activity and adjust the number and mix of vehicles used in our rental operations accordingly; increased vehicle costs due to declining value of our non-program vehicles; our ability to maintain sufficient liquidity and the availability to us of additional or continued sources of financing for our revenue eaming vehicles and to refinance our existing indebtedness; risks related to our indebtedness, including our substantial amount of debt, our ability to incur substantially more debt, the fact that substantially all of our consolidated assets secure certain of our outstanding indebtedness and increases in interest rates or in our bonowing margins; our ability to meet the financial and other covenants contained in our senior credit facilities and letter of credit facilities, our outstanding unsecured senior notes, our outstanding senior second priority secured notes and certain asset-backed and asset-based arrangements; our ability to access financial markets, including the financing of our vehicle fleet through the issuance of asset-backed securities; fluctuations in interest rates, foreign currency exchange rates and commodity prices; our ability to sustain operations during adverse economic cycles and unfavorable extemal events (including war, terrorist acts, natural disasters and epidemic disease); our ability to prevent the misuse or theft of information we possess, including as a result of cyber security breaches and other security threats; our ability to adequately respond to changes in technology, customer demands and market competition; our ability to purchase adequate supplies of competitively priced vehicles and risks relating to increases in the cost of the vehicles we purchase; our recognition of previously defened tax gains on the disposition of revenue eaming vehicles; financial instability of the manufacturers of our vehicles, which could impact their ability to fulfill obligations under repurchase or guaranteed depreciation programs; an increase in our vehicle costs or disruption to our rental activity, particularly during our peak periods, due to safety recalls by the manufacturers of our vehicles; our ability to execute a business continuity plan; our access to third-party distribution channels and related prices, commission structures and transaction volumes; our ability to retain customer loyalty and market share; risks associated with operating in many different countries, including the risk of a violation or alleged violation of applicable anticomuption or antibribery laws, our ability to repatriate cash from non-U.S. affiliates without adverse tax consequences, our exposure to fluctuations in foreign currency exchange rates and our ability to effectively manage our interational operations after the United Kingdom's withdrawal from the European Union; a major disruption in our communication or centralized information networks; a failure to maintain, upgrade and consolidate our information technology systems; costs and risks associated with litigation and investigations or any failure or inability to comply with laws and regulations or any changes in the legal and regulatory environment, including laws and regulations relating to environmental matters and consumer privacy and data security; our ability to maintain our network of leases and vehicle rental concessions at airports in the U.S. and intemationally; our ability to maintain favorable brand recognition and a coordinated branding and portfolio strategy; changes in the existing, or the adoption of new laws, regulations, policies or other activities of govemments, agencies and similar organizations, where such actions may affect our operations, the cost thereof or applicable tax rates; risks relating to our deferred tax assets, including the risk of an "ownership change" under the Internal Revenue Code of 1986, as amended; our exposure to uninsured claims in excess of historical levels; risks relating to our participation in multiemployer pension plans; shortages of fuel and increases or volatility in fuel costs; changes in accounting principles, or their application or interpretation, and our ability to make accurate estimates and the assumptions underlying the estimates, and which could have an effect on operating results. Additional information conceming these and other factors can be found in the Company's filings with the SEC, including its Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Cument Reports on Form 8-K. You should not place undue reliance on forward-looking statements. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date hereof, and except as required by law, the Company undertakes no obligation to update or revise publicly any forward- looking statements, whether as a result of new information, future events or otherwise. Hertz dollar. T DONLEN CAR RENTAL CAR RENTAL A Hertz Company 3