Hertz Investor Presentation Deck

UNENCUMBERED ASSET OVERVIEW Risk FMV Marks Program Contract Value Program A/R Cash in HVF II Total Asset Value ▪ As of September 2020 the fair market value based on NADA and Black Book of the risk fleet represented -115% of ABS NBV Fair Market Value Basis ($M) Outstanding Debt ABS Note Principal Balance (Excl. Class RR) (+) Class Risk Retention Notes Total ABS Debt Outstanding Implied Equity Value (Over Collateralization) ■ Equity Interest in HVF II 9/8/2020 $6,929 784 40 401 $8,154 Hertz dollar. Thrifty DONLEN CAR RENTAL CAR RENTAL A Hertz Company $6,771 547 $7,318 $835 Strictly Confidential Subject to CA/NDA Implied Equity - HVF/HVF II Structure Implied Equity Value - HVF Fleet Asset Value (-) Series 2013-G1 Loan Balance Implied HVF Fleet Equity Implied Equity Value - HVF II Series 2013-G1 Loan Balance (-) HVF II ABS Debt, Net Implied HVF II Fleet Equity Implied Equity Value (Over Collateralization) 9/8/2020 $7,753 (7,226) $527 ($ in mm) $7,226 (6,918) $308 Equity Interest in New ABS Financing Facility [$500] million [$1.0] billion based on value, financing structure and number of vehicles purchased in the new ABS structure $835 Note: 11/2L lenders have reserved rights with respect to the extent of their liens on prepetition collateral, and have silent, junior adequate protection liens on all assets to the extent of any diminution in value of their collateral, if any 6

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