Hertz Investor Presentation Deck

STRATEGIC DEFLEETING IN PROCESS I ■ Management is aggressively executing its defleeting strategy in an effort to optimize vehicle utilization based on customer demand Hertz expects to sell approximately ~134K risk vehicles through the end of the year and tum back approximately ~12K program vehicles, resulting in a target fleet size of -310K vehicles by year end 2020 As a result of the ABS settlement, the Company has the flexibility to hold additional vehicles depending on customer demand through the end of 2020 and sell additional vehicles if customer demand is lower than projected ▪ 310K Fleet Scenario December 2020 fleet size is sized based on interim ABS settlement ▪ The Company agreed to sell -$750mm worth of used vehicles to a third party purchaser in July 2020 U.S. RAC Average Vehicles (310K Fleet Scenario) 503 Jan-20 520 Feb-20 532 526 508 474 Mar-20 Apr-20 May-20 Jun-20 Hertz dollar. Thrifty DONLEN CAR RENTAL CAR RENTAL A Hertz Company 75K 413 Jul-20 17K 367 18K 350 13K Strictly Confidential Subject to CA/NDA 335 Aug-20 Sep-20 Oct-20 (Units in thousands) 12K 322 Nov-20 12K Vehicles sales Actuals Projections 310 Dec-20 22

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