Hertz Investor Presentation Deck

STRONG RECOVERY IN USED CAR MARKET 160 150 140 130 99 98 120 Jan-19 Apr-19 Jun-19 Aug-19 Oct-19 Jan-20 Mar-20 May-20 Jul-20 99 99 Manheim Used Vehicle Value Index 100 102 NADA Auction vs Retail (000s) 100 100 Auction Prices Used Retail Prices 100 Pre-COVID-19 90 99 99 98 86 87 91 96 97 101 98 Hertz dollar. Thrifty DONLEN CAR RENTAL CAR RENTAL A Hertz Company 158 106 108 101 102 1/31 2/9 2/18 2/27 3/7 3/16 3/25 4/3 4/12 4/22 5/1 5/10 5/195/28 6/6 6/15 6/24 7/4 ■ ■ ■ Strictly Confidential Subject to CA/ NDA Commentary Used vehicle prices have risen to their highest level since January 2019 per the Manheim Used Vehicle Value Index As a result of the recovery in used car prices, the Company is now operating in a favorable market environment to continue its defleeting strategy While recovery momentum has picked up, the Company still expects longer-term demand (over the next 12-18 months) to be remain below pre- COVID-19 levels, resulting in a smaller target fleet size Actual weekly wholesale auction volume began to approach pre-COVID-19 forecast levels at the end of May, ending the month -6% lower than initial forecasts Source: Bloomberg, JD Power Demonstration of strong improvement and recovery in used vehicle market ▪ Wholesale auction sales volume expected to exceed pre-virus expectations as increased supply enters the market due to used car pricing recovery 21

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